The deal, which is subject to regulatory approval, sees Invesco’s full service DC pension business with total assets of around £470 million move to Threadneedle.
Threadneedle launched its DC product in 2001. The acquisition means it will now be managing pension funds for over 100 clients and will be managing assets of around £1.3 billion in the sector. Threadneedle says transferred clients will benefit from access to a broader range of funds, improved systems, web functionality and member communications. Crispin Henderson, chief executive of Threadneedle says: “It’s another important milestone in Threadneedle’s growth, and further evidence of our commitment to enhance our products and services for our clients. By bringing on board Invesco Perpetual’s full-service DC business, we enhance our position as a leading DC provider.”
Ian Trevers, head of distribution for Invesco Perpetual says: “This provides our clients access to a greater range of funds on the Threadneedle platform, access to additional services on-line and will allow Threadneedle’s clients access to our investment capability.”