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Brady to run fund of funds at Invesco

Invesco Perpetual head of US equities Ian Brady has taken over the running of the company’s fund of funds from company chief executive Bob Yerbury.

Brady has been given seven new roles in a reshuffle which sees Yerbury concentrate on his role as chief investment officer. Brady gets specific responsibility for the world growth portfolio funds of funds at Invesco Perpetual which he has been helping Yerbury run for the past year.

Yerbury’s other two roles as manager of the international equity fund and overseas equity pension fund are handed to Kathryn Langridge. She will have responsibility for all multi-region equity funds managed in the Henley-based investment team.

Her former role as manager of the Asian fund has been given to Stuart Parks, who is promoted to head of Asian equities.

The 201m world growth portfolio aims to achieve capital growth from a portfolio primarily of Invesco Perpetual funds.

The fund managers may include other investments that they consider appropriate, which may cover transferable securities, warrants, deposits, derivatives and other permitted investments and transactions.

It returned 23 per cent in 2003 and 12 per cent in 2004 and is almost two-thirds invested in the UK. Its top holdings are the Invesco Perpetual income, growth, and income and growth funds.

As well as the fund of funds, Brady will also manage the world growth portfolio, world income, managed pension, global equity pension, international equity pension, global equity pension and growth managed pension.

Yerbury says: “Although I initially planned to retain management of the fund of funds, it became increasingly clear that the best decision would be for Ian to take on sole responsibility. I can now focus entirely on my joint role as chief executive and chief information officer to ensure that Invesco Perpetual is a successful business.”


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