to let investors open and fund new accounts on-line.
The Denver-based company plans to add the capability to its Web site Oct. 1. The service, it said, will eliminate paperwork and mailing and enable investors to open accounts in a single session. Funds for the accounts are to be drawn directly from customers' bank accounts.
In addition to opening accounts, investors will be able to buy and redeem shares at the Invesco site. They already can use it to exchange money between shares and check their accounts.
Invesco has $30 billion of assets under management. It is a subsidiary of Amvescap PLC, a global investment company with $296 billion of assets under management. -- Stephen Garmhausen