View more on these topics

Invesco and Perpetual revamping fund range

Invesco and Perpetual are to reduce their joint fund range from 48 funds to 33 by the end of the year as part of the mer-ger of the two groups.

The restructure of the company will see all funds rebranded under the Invesco Perpetual brand by the end of the fourth quarter but will aim to retain the independent management styles of the two houses. No funds are to be disbanded.

The growth fund range will largely consist of former Invesco funds while the core range will be mostly Perpetual funds. The income fund range will be the least altered, with Invesco&#39s Graham Kitchen and Perpetual&#39s Neil Woodford continuing to manage their existing funds.

The rebranding starts on April 6, with all but 15 funds changing to the Invesco Perpetual brand from that date. The 15 funds will be merged into Invesco Perp etual range, subject to unitholder approval in the last quarter of the year. Ten funds will be renamed as well as rebranded.

All funds will retain their current names and status until the end of the current tax year.

The new fund range will see both core and growth funds in six of the main fund management sectors: UK all companies, UK smaller companies, Europe excluding UK, North America, Japan and global.

Invesco chief executive Mike Webb says the distinction between core and growth funds was not an indication that the firm was making a move into the style market, stressing that core was not a synonym for value.

He says: “Schroders has taken a different approach with their style funds but both Perpetual and Invesco tend to run more adaptive investment styles.”

Recommended

James Hay sipps the fruits of external funds

Parrott says: “This offers a very good opportunity to revisit existing PPP clients and to attract those who are not getting much from their existing providers. The plan offers full Sipp benefits at equal or even lower cost than most standard insured PPPs. Many insurance companies will need to take this on board. There is […]

Christows sets up seminars for IFAs

Independent stockbroker and portfolio fund manager Christows is hosting a series of seminars for IFAs. The five seminars are being held from February 7 to 13 in London and the South-west. They focus on world markets and global opportunities for invest ment in 2001. They will also cover trends affecting investment trusts and opportunities for […]

Equitable accounts to be investigated

The Institute of Chartered Accountants in England and Wales is to look into the role of accountants which acted for Equitable Life prior to the troubled mutual closing its doors. The investigation is likely to look at Equitable&#39s auditors, Ernst & Young, although they say that they are satisfied with their performance. Referring to the […]

Paragon launches new fixed rate mortgage

Paragon is launching a new buy to let mortgage fixed at 6.95 per cent for two years. The mortgage reverts to the London inter-bank offered rate plus 1.5 per cent after the two year period and carries a redemption charge of six months interest over the first two years. Borrowers new to letting can obtain […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment