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Wednesday, June 02, 2010

Invesco Deal Causes TD Funds Subadvisor Change

News summary by MFWire's editors

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.
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InvestmentNews 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. 

Edited by: Sean Hanna, Editor in Chief


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