Some highly rated portfolio managers overseeing Morgan Stanley- and Van Kampen-branded mutual funds will remain with Morgan Stanley's institutionally focused money management arm after Invesco completes the purchase of Morgan Stanley's retail business.
According to a list compiled by Morgan Stanley, its top domestic value equity managers will join Invesco after the expected close of the deal in mid-2010. The two companies announced Oct. 19 the agreement for Invesco to purchase $119 billion in predominantly mutual fund client assets from Morgan Stanley.
Those heading to Invesco include the value equity and balanced fund investment team led by Thomas Bastian, which oversees two big Morningstar four-star rated funds: the $12.4 billion Van Kampen Equity and Income fund and the $6.4 billion Van Kampen Growth and Income fund.
Also slated to join Invesco is the value equity team led by Kevin Holt and Jason Leder, which manages the $8.6 billion Van Kampen Comstock fund.
Other highly rated teams, however, will remain with Morgan Stanley Investment Management, after the sale of that company's retail operations leaves it focused on institutional money management.
For example, MSIM's London-based international and global value equity team, led by Peter Wright and William Lock, will stay with Morgan Stanley. That team oversees funds that boast Morningstar's top five-star rating, including the $1.5 billion Van Kampen Global Franchise fund and the $4.3 billion Morgan Stanley Institutional International Equity fund. According to eVestmentAlliance, the team was overseeing a combined $16 billion in institutional and retail client assets as of June 30.
Also staying with Morgan Stanley is the New York-based growth equity team led by Dennis Lynch, which oversees a number of funds, including the four-star rated $1.5 billion Morgan Stanley Institutional Small Company Growth fund and the four-star rated $3.8 billion Morgan Stanley Institutional Mid Cap Growth fund.
According to Morgan Stanley, the teams heading to Invesco include the midcap domestic value equity team led by Thomas Copper; the small-cap value equity team led by Richard Glass, which oversees the four-star rated $319 million Morgan Stanley Special Value fund; the small-cap domestic growth equity fund led by Matthew Hart; the international growth equity team led by Hans van den Berg; the global growth team led by Edward Ramos; the global dividend yield team led by Nathalie Degans; the Japan equity team led by Kunihiko Sugio, Tadao Minaguchi and Hiroaki Yamazaki the U.S. active equity team led by Gregory Lai; the quantitative and structured solutions team led by Justin Simpson and Michael Nolan; the systematic strategies team led by Hooman Yaghoobi, which oversees the five-star rated Van Kampen Exchange fund; the convertibles team led by Ellen Gold, which oversees the four-star rated Morgan Stanley Convertible Securities fund; the municipals team led by Mark Paris, Bill Black and James Phillips; the high-yield team led by Dennis Schaney; and the senior loans team led by Mr. Schaney, Jinny Kim and Philip Yarrow.
Other teams staying with MSIM include the real estate team led by Ted Bigman, which oversees the five-star rated Morgan Stanley Institutional U.S. Real Estate fund, and the asset allocation team led by Henry McVey.