Invesco's close of its purchase of Van Kampen from Morgan Stanley is causing a subadvisor switch for TD Ameritrade Mutual Funds. The move though, is not a surprise. Officials at TD Asset Management disclosed to shareholders that Invesco Advisors will replace Morgan Stanley Investment Management as the portfolio advisor to the TD International Equity Growth Fund.
The change was a direct result of the sale of Van Kampen and will have no impact on how the portfolio is managed. Current portfolio managers Hans van den Berg and David Sugimoto will remain in their role.
* * *
runs a Q&A with Invesco CEO Marty Flanagan, who tells the magazine the deal will allow Invesco to go head-to-head with the biggest mutual fund firms. He adds that active ETFs are not finding traction with the firm's client base.
Sean Hanna, Editor in Chief
Stay ahead of the news ... Sign up for our email alerts now