Houston-Area Fund Firms Soldier on Through Harvey
All were well-prepared for the storm.
It was business unusual for Houston-based mutual fund families this week. Tropical Storm (formerly Hurricane) Harvey poured havoc and destruction on America's fourth-largest city, but money managers that Morningstar has been able to contact reported that they have thus far been able to implement backup plans to continue serving clients.
Harvey's unprecedented deluge has tested Invesco's business-continuity plans in recent days, but those efforts have so far appeared effective. All of Invesco's Houston-area employees are safe and accounted for, the company reported. About 1,500 of Invesco's 7,000 employees are based in the Houston area, the firm's largest concentration of workers.
Morningstar Fund Analysts does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.