David Taylor has retired from Invesco after 18 years as a manager in the group’s fixed income team.
Taylor joined the firm as a portfolio manager in 1996, and 10 years later was promoted to the role of head of global cash management and operations.
Taylor managed two funds: the £150 million Invesco Euro Reserve fund and the £65 million Invesco US Dollar Reserve fund. The former has returned 0.56% over the past three years compared with 0.96% from its money-market index, and the latter 0.02% versus its index’s 0.33% through the same period.
‘Invesco are grateful to David for his contribution and wish him well in his retirement,’ a spokesperson for the group told Wealth Manager.
Taylor’s responsibilities on both funds have been handed to Paul Mueller, who joined Invesco in 2003.
Mueller also runs the £44 million Invesco Gilt fund, which has returned 14% over the past three years compared with 17% from its index, and the £13 million Invesco Euro Inflation Linked Bond fund that has generated 3.5% versus the index’s 6.3% on a three-year view.