The fourth-largest issuer in the U.S. market will be rebranding its funds with the name of its parent company. Fresh off its acquisition of Guggenheim Investments’ ETF business, Invesco is retiring the PowerShares brand. As of June 4, the 206 ETFs currently trading under the PowerShares name will be rebranded as Invesco funds.
Some of those funds have only carried the PowerShares name for a few weeks given that the Guggenheim acquisition was completed earlier this month. Roughly 60 Guggenheim ETFs were reorganized into PowerShares ETFs, with a small handful still waiting for their shareholders to approve their reorganizations.
The switch to the Invesco brand affects nearly $182 billion worth of ETF assets, a total AUM topped only by three firms: State Street Global Advisors at No. 3, Vanguard at No. 2 and BlackRock’s iShares at No. 1. That said, State Street seems pretty assured of holding on to its No. 3 spot in the league tables for at least the time being, with $612 billion in assets. However, Invesco’s ETF footprint is growing fairly rapidly.
PowerShares was founded as an independent ETF issuer in 2002 by Bruce Bond and John Southard. It was originally acquired by Invesco in 2006.
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