One of the first results of the merger of INVESCO and AIM Management Group will be to give clients of each firm's bundled 401(k) products access to the other's mutual funds. Management for the two firms said they expect their respective mutual fund families to remain separate and under their current names - AIM is a load family and INVESCO's is no-load - but they expect to cooperate in launching new products.
As expected, the two firms announced today they will merge into a new holding company called AMVESCO in a transaction worth $1.6 billion. The firms will remain separate and under their current names after the deal closes in February. Charles W. Brady, chairman and CEO of INVESCO, will have the same title in the merged company.