Invesco deal to have minimal impact on MSIM in Asia
Morgan Stanley is exiting its retail mutual fund business in the US, including Van Kampen Investments, and will only lose its Japan equities retail business.
Morgan Stanley Investment Management's Asian business is unlikely to be significantly affected following the takeover by Invesco announced yesterday, says Blair Pickerell, Asia head of MSIM.
Atlanta-based Invesco will buy Morgan Stanley's retail asset management business, including Van Kampen Investments, for $1.5 billion. Invesco will pay for the deal with both cash and stock, leaving Morgan Stanley with a 9.4% Invesco stake.
Invesco will gain a global book of $119 billion of asset…
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