Source to be acquired by Invesco Limited

April 27, 2017 - Invesco Ltd has entered into a definitive agreement to acquire Source, a leading, independent specialist provider of exchange traded funds (ETFs). With approximately $18 billion in Source-managed AUM, plus approximately $7 billion in externally managed AUM (as of March 31, 2017), Source has established a reputation as one of Europe’s most innovative ETF providers.
The combining of Source with Invesco PowerShares ETFs will further enhance our ability to help clients meet their investment objectives. The fit between Source and Invesco PowerShares is exceptionally complementary in terms of product range, a shared focus on clients and a history of innovation. The combined business will be a true leader in the ETF market across Europe and its target markets.

Martin L. Flanagan, President and CEO of Invesco, said:
“We’re excited about this opportunity to build on Invesco’s 40 years of factor investing experience and our existing PowerShares ETF business, which will significantly enhance our ability to deliver meaningful solutions to institutional and retail clients in Europe and around the world. The addition of Source will help us meet increasing demands from clients who want to work with investment organizations that can deliver across the full range of investment capabilities and provide the outcomes they seek.”

Mike Paul, Executive Chairman of Source, said:
"Invesco and Source are extremely complementary, and the combined business will be a true leader in the ETF market across Europe. We are very proud to have built Source into one of Europe's most competitive and innovative ETF providers with some of the most compelling products in the market. Our drive for new product excellence will remain at the heart of the combined business.”

Subject to regulatory approval, the acquisition is expected to close in the third quarter of 2017.

About Invesco Ltd.
Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.  The organisations culture puts clients firmly at the centre of everything they do; with a pure focus on investing that enables the delivery of strong, long-term investment performance to clients. Invesco manages more than $835 billion* in assets on behalf of clients worldwide. The firm offers:

• Specialised investment teams managing investments across a comprehensive range of asset classes, investment styles and geographies 
• More than 6,500 employees focused on client needs across the globe
• Proximity to clients with an on-the-ground presence in 25 countries**, including 13 countries in the Europe, Middle East and Africa region
• Solid financials, investment grade debt rating, and strong balance sheet

To find out more about Invesco visit www.Invesco.com

*Invesco Ltd. As a March 31 2017
** Portfolio Manager, Analyst, Trader, Economist, Strategist and/or Distribution staff (UK (and Jersey); Dubai; Netherlands; Belgium; Germany; Spain; Italy; France; Czech Republic; Sweden; Austria; Poland; Switzerland)

Download the press release here