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Invesco to acquire ETF provider Source

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Invesco is to acquire Source, a provider of exchange-traded funds (ETFs) based in Europe. 

The transaction includes approximately USD18 billion in Source-managed AUM, plus approximately USD7 billion in externally managed AUM. 
 
The acquisition brings additional talent and a broad array of funds that further expand the depth and breadth of Invesco’s active, passive and alternative capabilities and expertise.
 
Invesco says that the acquisition is consistent with its strategic priorities globally and in EMEA, and will benefit clients by expanding the depth and breadth of factor-based strategies and ETFs, adding to the range of investment capabilities Invesco offers in EMEA and across the globe.
 
Invesco says the acquisition will also enhance its expertise and ability to meet the needs of institutional and retail clients in EMEA with the addition of dedicated on-the-ground ETF specialists spanning sales, marketing, capital markets, and product management and development; and strengthening its position in EMEA while achieving additional scale and relevance in the growing ETF market globally.
 
“We’re excited about this opportunity to build on Invesco’s 40 years of factor investing experience and our existing PowerShares ETF business, which will significantly enhance our ability to deliver meaningful solutions to institutional and retail clients in Europe and around the world,” says Martin L Flanagan (pictured), president and CEO of Invesco. “The addition of Source will help us meet increasing demands from clients who want to work with investment organisations that can deliver across the full range of investment capabilities and provide the outcomes they seek.”
 
“Source is a leading independent, diversified, at-scale ETF provider in Europe that is highly regarded for its product innovation,” says Andrew R Schlossberg, senior managing director and head of EMEA for Invesco. “The combination with Invesco will further strengthen our presence, expand our access to key client channels and enhance the expertise within our growing EMEA business.”
 
"Invesco and Source are extremely complementary, and the combined business will be a true leader in the ETF market across Europe,” says Mike Paul, executive chairman of Source. “We are very proud to have built Source into one of Europe's most competitive and innovative ETF providers with some of the most compelling products in the market. Our drive for new product excellence will remain at the heart of the combined business.”

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