The Missouri Public School Retirement System, Jefferson City, is conducting a comprehensive review of INVESCO Global in light of civil market-timing lawsuits against sister company INVESCO Funds Group, said Craig Husting, CIO. INVESCO Global runs $900 million in active international equities for the $22.8 billion system, Mr. Husting said. "Comprehensive review" implies lower concern than placing a manager on watch, he said. Frank Russell is assisting.
Separately, Massachusetts Pension Reserves Investment Management Board, Boston, is reviewing its investments with INVESCO Realty because of civil lawsuits filed against the firm's sister business, INVESCO Funds Group, said Karen Sharma, spokeswoman for Massachusetts Treasurer Timothy Cahill. INVESCO Realty manages $387 million in a direct real estate fund for the $30.5 billion system, Ms. Sharma said. "We are conducting due diligence, including meeting with INVESCO officials, taking a look at some of these issues," she said.
"We have been in constant communication with our clients as events have unfolded over the last three weeks," said Bill Hensel, spokesman for INVESCO parent AMVESCAP.