Invesco is changing the name of its Invesco Aim unit to Invesco, and its AIM Funds to Invesco Funds, according to an executive at the investment firm.
The reason for the name change, effective April 30, is that “the connection between AIM and Invesco has been made,” said Andrew Schlossberg, chief marketing officer of Invesco AIM. “Invesco” now can stand in for “AIM” without any confusion, he added.
Invesco merged with AIM Investments in 1997.
No similar change is in the works for Van Kampen Funds, which Invesco acquired from Morgan Stanley for $1.5 billion in October. A strong connection doesn't yet exist between Invesco and Van Kampen, so Invesco will be added to the Van Kampen open-end fund names at the close of the acquisition, Mr. Schlossberg said. The deal is expected to be completed some time during the middle of the year.
Invesco, however, will rebrand the Morgan Stanley open-end funds that are part of the transaction by removing Morgan Stanley from fund names and replacing it with Invesco.
Invesco is still “working through the details” with regard to the fate of closed-end funds offered by both Van Kampen and Morgan Stanley, said Ivy McLemore, a spokesman for Invesco.
Asked if once a “connection” is made between Invesco and Van Kampen whether the Van Kampen name would be dropped, Mr. Schlossberg said that is something “clients and shareholders dictate over time.”
David Hoffman is a reporter with InvestmentNews, a sister publication of Pensions & Investments.