View the article online at http://citywire.co.uk/wealth-manager/article/a645627
Invesco Perpetual focuses on global equity in manager reshuffle
by Emma Dunkley on Dec 14, 2012 at 11:00
Invesco Perpetual has announced UK fund manager Stephen Anness is taking over the firm’s £53 million Global Opportunities fund from the start of next year, as part of the development of its global equity capability.
The Global Opportunities fund, launched in 1997, has been managed by the Global Equity Group (GEG), comprising chief investment officer Nick Mustoe (pictured) among others.
While Anness will continue to work within the GEG to use its regional expertise, he will apply his own strategy.
Mustoe said: ‘Global equities is a core priority for the business and, under the leadership of Nick Hamilton, head of global equity products, we have been building our franchise with the launch of our Global Equity Income fund and the development of our global smaller companies and global core capability.’
He added: ‘Giving Martin Walker management of both the Invesco Perpetual UK Growth fund and the Invesco Perpetual UK Aggressive fund is a logical move that will give one of our most experienced UK managers the chance to express his high conviction investment ideas in a more concentrated portfolio.'Invesco is the second firm this week to announce it is reshuffling its manager line-up to focus on global equities.
Newton Investment Management revealed Richard Wilmot is taking over the firm’s Higher Income fund, leaving Tineke Frikkee on the side-lines, as investors shift away from UK equities to focus on global equities, fixed income and absolute return.
Over three years to 13 December, Anness has delivered 33.3% versus the benchmark’s 25.3%.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop
More about this:
Look up the funds
Look up the fund managers
More from us
On the road
by Danielle Levy on Jul 25, 2014 at 10:50