Mutual funds giant Invesco has completed its acquisition of London-based ETF provider Source for an undisclosed sum.
The deal, announced in April, gives the $125 billion (€106 billion) Atlanta-based fund manager, the world’s fourth largest ETF provider, a foothold in Europe’s burgeoning ETF market.
Source has around $18 billion of assets under management and approximately $8 billion of externally-managed assets.
Source’s former executive chairman Mike Paul will lead Invesco’s ETF business in Europe, the Middle East and Asia.
Earlier this month it was reported that Invesco is in talks to buy the exchange-traded fund and mutual funds business of US investment firm Guggenheim Partners.
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