Invesco to acquire ETF provider Source

The transaction includes the acquisition of approximately $18bn (£14bn) in Source-managed assets under management (AUM), plus approximately $7bn in externally managed AUM. This adds to Invesco's PowerShares business, which has AUM of $110bn as at 31 December 2016. A statement from Source said the acquisition, for an undisclosed sum, is expected to complete in Q3 2017. Invesco president and CEO Martin L Flanagan said: "We are excited about this opportunity to build on Invesco's 40 years of factor investing experience and our existing PowerShares ETF business, which will significantly e...