News of Invesco Perpetual Income & Growth fund manager Graham Kitchen's departure does not worry Chartwell Asset Management.
Chartwell is backing his replacement Andy Jones, Kitchen deputy of 5 years will take responsibility for the Income & Growth unit trust, Martin Walker will take over the UK Equity fund and the UK Team will take charge of UK Key Trends.
Kitchen also managed the Invesco Income Growth investment trust and the UK Equity and UK Key Trends unit trusts.
Chartwell investment analyst Ryan Hughes Chartwell says: "It is sad to see a fund manager of Graham Kitchen's quality depart, but perhaps it is not too much of a surprise given the very large shadow of Neil Woodford that he was operating under.”
Hughes says investors in the Income & Growth fund should not worry with this change as the appointment of Andy Jones shows a strong continuation of the investment process.