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Invesco merging US funds to focus on bigger firms

Invesco Perpetual is to merge its 20m US smaller companies and 8m US aggressive funds into its 294m US equity fund.

The move, which is subject to shareholder approval, will see the newly merged fund focus on larger companies under the management of Andrew Shard.

The US range has been a thorn in Invesco Perpetual’s side in recent times.

All three funds are fourth quartile over three years in their IMA sectors and their underperformance was noted by Bestinvest’s recent Spot the Dog survey which highlights funds that have failed to beat their benchmark index in each of the past three years and underperformed their index by 10 per cent over that time.

Manager Ian Brady left the company in December 2007 and was replaced by Shard in February this year.

Invesco Perpetual chief executive and chief investment officer Bob Yerbury says: “Invesco Perpetual first launched a US equity fund in September 1983 and as a group we have over 25 years experience in managing US equities from Henley. In focusing our investment expertise into a single broad-cap US equity fund and with the recent appointment of Andrew Shard, we are taking the necessary steps to reinvigorate our US equity business.”

The changes are expected to take place on May 23.


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By my reckoning, you need to be at least 40 years old to have a clear memory of what happened during the last recession, so many people are perhaps in denial about how bad things could get in the housing market. Nothing embodies this better than the TV property programmes, which seem to live in a wonderland of ever rising prices. Many people are going to be shocked.

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The actions of OPEC have forced the oil supply to fall and producers to cut costs and rationalise, says Richard Hulf In an interview with journalist Alexis Xydias, Richard Hulf, manager of the Artemis Global Energy Fund, explains the impact of the fall in the oil price on energy companies. Alexis also quizzes Richard on […]


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