The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Three Fund Firm Mergers Near Their Finish Lines Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 02, 2017

Three Fund Firm Mergers Near Their Finish Lines

News summary by MFWire's editors

A trio of mutual fund firm mergers are nearing their respective finish lines, and a fourth isn't too far behind.

Richard M. Weil
Janus Capital Group
Last week shareholders of Denver-based Janus [profile] and London-based Henderson [profile] both approved the pending cross-Atlantic "merger of equals" of the two publicly-traded asset managers. Janus CEO Dick Weil and Henderson CEO Andrew Formica confirm that the deal, first unveiled in October is expected to go through on May 30. Formica and Weil will serve as co-CEOs of the combined company, which will be called Janus Henderson Global Investors. As of March 31, 2017, Janus Capital Group reports $204.7 billion AUM and Henderson manages $128.9 billion in assets.

Meanwhile, word on the mutual fund industry street is that the close of Hartford-based, publicly-traded Virtus' [profile] planned acquisition of Atlanta-based, private-equity-backed RidgeWorth [profile] is just around the corner. Last week in its Q1 2017 earnings report Virtus revealed Q1 "acquisition and integration costs of $1.6 million" related to the RidgeWorth deal and confirmed that, as planned back when the deal was unveiled in December, the close is expected by the end of Q2. Virtus has an AUM of $48 billion as of March 31, 2017 while RidgeWorth manages approximately $40 billion in assets as of December 31, 2017.

Watch for Paris-based, publicly-traded Amundi's purchase of Boston- and London-based, UniCredit-backed Pioneer [profile] to also close by the end of this quarter. Last week in its Q1 2017 earnings report Amundi revealed 3.5 million euros (about $3.82 million), net of tax, of "expenses related to the forthcoming integration of Pioneer Investments," which Amundi CEO Yves Perrier still expects to close by the end of Q2 as planned when Amundi unveiled the deal back in December.The Paris-based asset manager has 1,100 billion ($1198.59 billion) AUM while Pioneer manages 228.4 billion ($240.8 billion) as of December 31, 2016.

Meanwhile, Aberdeen, Scotland-based, publicly-traded Aberdeen [profile] also released earnings last week, which Bloomberg describes as showing "slowing outflows and improving profitability as investors return to its emerging-market strategies." Aberdeen's impending merger with another publicly-traded Scottish giant, Standard Life, is expected to close next quarter. Standard Life manages 277.9 billion ($359 billion) as of December 31, 2016 and Aberdeen has $385.2 billion under management and advice as of March 31, 2017.  

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use