Financial Services Industry
Industry: Email Alert RSS FeedAt Deadline.(INVESCO Institutional and AMVESCAP PLC)(Teachers Insurance and Annuity Association - College Retirement Equities Fund)(Los Angeles County, California. Employees Retirement Association and Credit Suisse First Boston L.L.C.)
Pensions & Investments, April, 2007
$6.1 billion leaving INVESCO INVESCO Institutional will lose about $6.1 billion in stable value assets following the departure of 16 members of its worldwide fixed-income group, who left to join Deutsche Asset Management last month. In a call with investors, Martin Flanagan, president and CEO of INVESCO's parent, AMVESCAP, said the company has lost $1.7 billion in client assets to date because of the departures.
Other institutional clients have indicated they intend to terminate INVESCO from assignments totaling $4.4 billion; Charles Schwab officials said the firm had dropped INVESCO as subadviser of its $3 billion stable value mutual fund. Separately, AMVESCAP reported $471.2 billion in assets under management in the first quarter, a 1.9% increase from the...
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