Invesco Ltd. (IVZ), a global asset management firm, Tuesday announced that it has agreed to sell the management agreements of its Canadian fund business to CI Global Asset Management or CI GAM, a Canadian asset management unit of CI Financial Corp.
The financial details of the transaction have not been divulged and the said transaction is expected to close in the second quarter of 2026.
Invesco's Canadian fund business has a total of around C$26 billion of assets under management and with this deal CI GAM's assets under management will increase to approximately C$170 billion.
As per the agreement terms, CI GAM will become the manager of 100 mutual funds and exchange-traded funds currently offered by Invesco Canada Ltd.
Further, both the companies will enter into a long-term strategic partnership under which Invesco affiliates will continue to provide portfolio management services to 63 funds through a sub-advisory arrangement with total assets under management of approximately C$13 billion.
Currently, IVZ shares are trading at $28.63, down 0.43% on the New York Stock Exchange.
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