Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
Macquarie Investment Management Acquires First Investors Funds
FYI: Macquarie Investment Management today announced it has entered into a definitive agreement to purchase the assets related to the mutual fund management business of Foresters Investment Management Company, Inc., the investment adviser of the First Investors funds, with approximately $US12.3 billion in assets under management.* The acquired assets will become part of the Delaware Funds® by Macquarie family of funds. In addition, Macquarie Investment Management has been chosen by Foresters to manage a portion of Foresters’ general account supporting its life insurance business. The transaction is expected to close in the fourth quarter of calendar year 2019. Regards, Ted https://www.macquarie.com/us/about/newsroom/2019/macquarie-investment-management-to-acquire-2.3usd-billion-in-assets-of-first-investors-funds-managed-by-foresters-financial
Gets confusing. Macquire runs a fine infrastructure investment complex. Oppenheimer, where I have a bit, apparently farms out their infrastructure fund to Macquire to manage (OQGAX). Not a great record since Oppenheimer got involved - but they’ve only had it a year or so. I have small hold in it. Me thinks Macquire may be based in Australia, as a lot of their holdings are there.
On another front, Invesco is taking over Oppenheimer. Got a bunch of paperwork + proxies on the complex deal. Looks like Invesco will continue to run the current lineup of Oppenheimer funds alongside theirs - at first anyway. Firm commitment not to exceed current ER on all the funds for 3 years.
Invesco sounds, if anything, even higher fee and lower regarded than Oppenheimer.
Comments
On another front, Invesco is taking over Oppenheimer. Got a bunch of paperwork + proxies on the complex deal. Looks like Invesco will continue to run the current lineup of Oppenheimer funds alongside theirs - at first anyway. Firm commitment not to exceed current ER on all the funds for 3 years.
Invesco sounds, if anything, even higher fee and lower regarded than Oppenheimer.