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Causer and Read get financials fund co-manager

Causer and Read get financials fund co-manager

Invesco Perpetual has promoted Julien Eberhardt to deputy manager of its Global Financial Capital fund, which is run by the Citywire + rated pair of Paul Causer and Paul Read.

Eberhardt joined Invesco Perpetual in 2008 as a fixed interest credit analyst, having begun his investment career in 2005 at Moody’s as a high yield and investment grade corporate bond analyst.

Launched in January 2012, the £82 million Global Financial Capital fund is the absolute best performer in its Citywire Global Bonds sector over the past year. It has returned 28% compared with a peer group average of 3.8%.

‘I am delighted that Julien is to become deputy fund manager of the Invesco Perpetual Global Financial Capital fund,’ commented Causer (pictured), co-head of fixed interest at Invesco Perpetual.

‘Julien has provided the team with high quality and expert analysis of the financial sector during even the challenging periods we have seen in the last few years and his input has contributed immensely to the success of the fund.’

The appointment will also see Nick Mustoe, Invesco Perpetual’s chief investment officer (CIO), step back from the fund’s management.

‘The Invesco Perpetual fixed interest team’s in-depth knowledge of the risk reward opportunities in all areas of the financial sector, and capacity and expertise in sourcing equity as well as credit ideas, have meant that I am able to step back as fund manager. I will continue to provide input and challenge through my CIO role,’ Mustoe said.

The fund invests in the debt of banks and other financial institutions, with top holdings currently including bonds issued by the likes of Nationwide and Lloyds.

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Paul Read
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39/82 in Bonds - Global (Performance over 3 years) Average Total Return: 13.56%
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