The Guggenheim Investments’ ETF business consisted of $38.8 billion of assets under management (as of Feb. 28, 2018).
Effective as of the close of business on Monday, substantially all of the Guggenheim ETFs have been reorganized into corresponding newly created ETFs of PowerShares by Invesco family of ETFs in a tax-free transaction.
A small number of Guggenheim ETFs are still awaiting shareholder approval to reorganize into PowerShares ETFs, and will be reorganized when that approval is received.
Guggenheim Investments president Jerry W. Miller said they were confident that Invesco was the right partner and platform to deliver continued value to its former ETF shareholders.
“With the closing of this transaction, Guggenheim Investments takes an important step forward in our growth strategy to focus on active portfolio management for both institutional and individual clients,” Miller said.
The CurrencyShares ETF product line, also part of the Guggenheim transaction, were transitioned to Invesco effective at the close of business on Monday. These products offer investors and institutions a convenient and cost-effective method of gaining potential investment benefits similar to holding foreign currencies.
For more information on the acquisition, visit www.invesco.com.