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Invesco Perpetual to tap into emerging Europe rise with fund launch

Invesco Perpetual is to launch an emerging European fund for former Schroders fund manager Liesbeth Rubinstein.

Citywire understands the Invesco Perpetual Emerging European fund will launch on 12 December. The fund will be registered onshore and levy a 1.5% annual charge.

The fund is expected to be heavily weighted towards Russia at launch.

A spokesperson for Invesco Perpetual said: 'Given the strength of our existing emerging markets capability, clearly if would be natural for us to look at adding to our product shelf by utilising the investment expertise of Dean Newman [Invesco Perpetual head of emerging markets] and his team.'

Rubinstein joined Invesco Perpetual in March 2007 from Schroders where she was head of Europe, Middle East and Asia equities and managed the firm’s Emerging European funds.

Prior to this she worked as a fund manager for JP Morgan Asset Management specialising in the Middle East and central eastern Europe.

At Invesco Rubinstein is responsible for managing eastern European segments of the firm’s emerging markets assets along with running some eastern European mandates.

Rubinstein’s profile in the emerging markets team rose in April following the departure of Invesco emerging market head and Citywire AAA-rated Kathryn Langridge to Lloyd George Asset Management.

The fund will sit in the firm’s suite of emerging markets funds, which includes Newman’s Invesco Perpetual Latin American (INVESCO PERPETUAL Latin American Acc) and Emerging Markets Select Equity funds.

Emerging Europe markets have enjoyed a phenomenal run against more developed markets recently. According to Lipper, the MSCI Emerging Europe index has returned 166% in the three years to the end of September on a capital return basis versus a rise of 87% in the FTSE Developed Europe index.

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Dean Newman
Dean Newman
104/239 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 36.59%
Kathryn Langridge
Kathryn Langridge
112/239 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 36.17%
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