Invesco offers assurance money market funds safe

By Associated Press
September 17, 2008 | Comments (0)

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Asset manager Invesco Ltd. said Wednesday its U.S. money market funds have no exposure to troubled financial services companies.

The Atlanta-based company said it is offering clients daily portfolio updates to assure them its U.S. money market funds are not at risk as a result of Lehman Brothers Holdings Inc.'s bankruptcy filing or the financial difficulties facing American International Group Inc. and Washington Mutual Inc.

The firm is the latest to attempt to reassure investors that their money is safe. BlackRock Inc., Legg Mason Inc., Charles Schwab Corp. and Federated Investors Inc., which manage $815 billion in money market funds as of July 31, also have confirmed that their money funds have no Lehman exposure.

Invesco said none of its money market funds hold securities that have been downgraded by credit rating agencies, and all portfolios are operating normally.

Invesco is a global investment management company operating in 20 countries under the brand names Invesco AIM, Atlantic Trust, Perpetual, PowerShares, Trimark, and WL Ross.

Shares fell $1.18, or nearly 5 percent, to $23.04 in afternoon trading as the broader markets continued to plunge on financial market fears.

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Invesco offers assurance money market funds safe

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