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“On Friday, Invesco (ticker: IVZ) announced that it will close 42 ETFs. They run the gamut from emerging market debt funds to U.S. large-cap factor funds to currency funds. The website ETF.com reported that the total assets in those funds exceeds $1 billion and that eight of the 42 funds have more than $50 million in assets, which ETF.com noted, is the point at which an ETF is considered “safe from closure.”
Barrons Article - From these Bing search results should be at / near top.
Looks like INVESCO produces a lot of junk. Wonder how much of a haircut the investors in these funds is going to get. That's the story I am interested in. Bet it doesn't make print!!!
Looks like INVESCO produces a lot of junk. Wonder how much of a haircut the investors in these funds is going to get. That's the story I am interested in. Bet it doesn't make print!!!
Haircut? I’d rather doubt that. Reason for the closings is duplication of offerings with Oppenheimer, with whom they’ve recently merged. In addition, they’re being squeezed by larger better players in the market, and so looking to cut costs.
A lot of junk? Some have suggested that. I really don’t know. I’ve long clung to a few A shares at Oppenheimer I purchased directly for an IRA at a much less experienced age (around 1995). There were things to like and things to dislike at Oppenheimer. But I always found something to invest in there that provoked my interest. In particular, there were some niche funds (like a gold fund) that TRP has yet to offer.
I’m staggered by how much larger the selection is at Invesco. Who needs 50-100 new funds to digest at my age? There is a lot of duplication with Oppenheimer - a reason for the shuttering of many funds. At a glance they have a similarity high fee structure to what Oppenheimer had. I’ve been under the impression they are London based, but a quick check tonight revealed that they are headquartered in Atlanta GA. Part of my invested assets will be coming out of there in 2020 (wherever they are).
Comments
Here’s a better link with the list of closings. As far as I know, these will be liquidated unless investors exchange into other funds first.https://www.etf.com/sections/daily-etf-watch/invesco-shuttering-42-etfs-1b-assets?nopaging=1
And here’s the Invesco Press Release: https://www.prnewswire.com/news-releases/invesco-announces-changes-to-its-us-etf-and-mutual-fund-product-lines-300974616.html
A lot of junk? Some have suggested that. I really don’t know. I’ve long clung to a few A shares at Oppenheimer I purchased directly for an IRA at a much less experienced age (around 1995). There were things to like and things to dislike at Oppenheimer. But I always found something to invest in there that provoked my interest. In particular, there were some niche funds (like a gold fund) that TRP has yet to offer.
I’m staggered by how much larger the selection is at Invesco. Who needs 50-100 new funds to digest at my age? There is a lot of duplication with Oppenheimer - a reason for the shuttering of many funds. At a glance they have a similarity high fee structure to what Oppenheimer had. I’ve been under the impression they are London based, but a quick check tonight revealed that they are headquartered in Atlanta GA. Part of my invested assets will be coming out of there in 2020 (wherever they are).