Maligned fund giant
Standard Chartered, an international bank that focuses mainly on Asia, said it did not sell Invesco funds in December and is not selling them now "pending the outcome of the U.S. investigation."
In December, New York Attorney General Eliot Spitzer charge Invesco and its top man Raymond Cunningham for improper trading arrangements with hedge funds, and may be the first step toward forcing the NFLs Denver Broncos to strip the word "Invesco" from its new football stadium.
A spokesman for Standard Chartered said the Invesco funds it sells are not those affected by the U.S. probe. The bank declined to say how many Invesco funds it sold or give the value of assets run for it by the fund manager.
Standard Chartered, listed in London and Hong Kong, mainly sells mutual funds in Hong Kong and Singapore.
