Fund chiefs discuss impact of M&A on clients
With talk of consolidation swirling around several big fund houses, AsianInvestor quizzes Aberdeen Standard’s Hugh Young and Mark Browning of Franklin Templeton about the trend.
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.
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