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Ex-Aberdeen chief takes on Invesco Euro fund

Stephanie Gerrard, former head of pan-European equities at Aberdeen Asset Management, is taking over Invesco Perpetual&#39s £915m European growth fund in a bid to reverse its ailing performance.

Gerrard, a highly respected European manager, is replacing Alister Hibbert, who has failed to dislodge the fund from the bottom of the performance tables since taking over in late 2001.

Under his tenure, the fund has fallen by 21.1 per cent while, over three years, it is down by 61.19 per cent against a sector average of -36.95 per cent.

Hibbert will remain in the team but concentrate on running institutional mandates.

Gerrard will be supported by Jeff Taylor, who heads the European equities team. He will continue to run the European equity fund with the help of John Surplice.

Chelsea Financial Services managing director Darius McDermott says: “Gerrard is a very good manager and she may prompt us to take the fund off our sell list. Nevertheless, it is still a long way from being an outright buy.”


F&C Investment Trust sees 7.6 per cent growth

Foreign & Colonial Investment Trust interim results show net assets have increased by 7.6 per cent from £1,826m to £1,697m and NAV per share has also increased by 7.6 per cent to 192.38p.

Stand up and be counted on PI

I note with interest that some of the letters you are printing in your paper on PI and other regulatory subjects are becoming anonymous as far as the authors are concerned, presumably on the grounds of fear of retribution. This matter is far too serious for those with a grievance to remain anonymous.From what I […]

Standard Life Bank extends overpayment facility

Standard Life Bank is extending the overpayment facility on its full range of fixed rate mortgages. Customers will be able to overpay by up to 10 per cent on any fixed rate, and make unlimited overpayments on the bank&#39s Freestyle variable rate products. This means that a customer with a £120,000 capital mortgage on Standard […]

Axa extra income fund evolves offshore

Axa Isle of Man has added the evolution extra income fund to its unit-linked fund range for the evolution and estate planning bonds. The fund fits in at the lower end of evolution&#39s risk spectrum and consequently it is likely to produce modest returns. It aims to provide income and preserve capital by investing entirely […]


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