Invesco acquires Morgan Stanley retail business for $1.5bn

The deal, which includes US mutual fund subsidiary Van Kampen Investments, will see Morgan Stanley receive $500m in cash and a 9.4% stake in Invesco. Morgan Stanley Investment Management (MSIM) will now focus on its institutional operations. The UK operations remain at Morgan Stanley. Invesco will acquire $119bn in assets under management from MSIM - across equity, fixed income, alternatives and investment trusts. The deal has been both companies and is expected to be completed by mid-2010.