Invesco Perpetual is gearing up to launch a multi-asset fund for the members of Standard Life Investments’ GARS team it hired last year, Money Marketing understands.
The Invesco Perpetual Global Targeted Returns fund will be managed by David Millar, Dave Jubb and Richard Batty, who joined the Henley-based asset manager after working on SLI’s flagship GARS offering.
Millar is head of multi-asset at Invesco Perpetual; Jubb and Batty are fund managers. The three were seen as key personnel on the GARS fund, which was hit by the departure of SLI global head of multi-asset Euan Munro.
Domiciled in London and structured as an Oeic, the fund will aim to achieve a positive total return in all market conditions over a rolling three-year period, investing in equities, equity-related securities, fixed income and money-market instruments.
It is expected to be the first in a range of multi-asset funds for the team, which joined Invesco Perpetual in January. Invesco last year launched three risk-rated funds for its Atlanta-based global asset allocation team, headed by Scott Wolle.
Hargreaves Lansdown head of research Mark Dampier notes that the managers will be working as a smaller team at Invesco. He says: “We tend to prefer smaller teams, because we like good lines of communication.”