Fund chiefs discuss impact of M&A on clients

The race for asset management scale is well and truly on, and it appears a buyer’s market for firms with the available capital, given how low stock prices are these days. US-based Invesco, for instance, is trading around $10 a share, down from $32 three years ago; even at the start of the year before Covid-19 hit it stood at just $17.67. At least six major fund houses are either actively up for sale or would be available if the right price were offered, AsianInvestor understands. …