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Invesco secures IOOF passive mandates 18 May 2021
Invesco has picked up more than $23.1 billion in index investments with IOOF, after US rival Vanguard dumped the contract.
The 14 index mandates within the former ANZ pensions and investments business, which form the OneAnswer index funds as well as the Smart Choice and OnePath diversified funds, will transfer to Invesco by early June. ); googletag.cmd.push(function() { googletag.display( div-gpt-ad-1606778578862-0 ); }); }
IOOF deputy chief investment officer and head of equities, Stanley Yeo, led the decision.
“Invesco was selected based on its high aggregate score across the following criteria: portfolio construction, implementation and risk management, business management, smart beta capabilities and ESG credentials,” Mr Yeo said. ....
Invesco has picked up a $23.1 billion contract to run passive investment strategies across the former ANZ Bank superannuation funds in what is believed to be the nation’s largest external investment mandate. ....
Stanley Yeo, IOOF’s deputy chief investment officer and head of equities, led the Invesco move and said the firm reviewed several index managers as part of the due diligence process. “Invesco was selected based on its high aggregate score across the following criteria: portfolio construction, implementation and risk management, business management, smart beta capabilities and environmental, social and governance (ESG) credentials,” Yeo said. “Further, Invesco has the necessary skill, experience, resources and scale to deliver close tracking of indices. “The scale of Invesco’s operations provides it with significant resources relative to smaller competitors.” Invesco’s indexing business was worth over $388 billion which extended across equities, fixed income, and alternatives. ....
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