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Morningstar places Invesco Global Equity Income fund under review

Morningstar OBSR has placed the £300m Invesco Perpetual Global Equity Income fund under review following the departure of fund managers Paul Boyne and Doug McGraw.

Earlier this month, Money Marketing’s sister publication Fundweb revealed the pair were leaving the asset manager for roles in North America.

The pair manage the £300m Invesco Global Equity Income fund. The fund, which launched in March 2009, is the top performing fund in the Investment Management Association Global Equity Income sector over three years, having returned 36.8 per cent compared to a sector average of 25.4 per cent.

Boyne joined Invesco in October 2008 as a senior fund manager within the global equities team. He has previously held roles at Grant Thornton, Morgan Stanley Investment Management and Bank of Ireland.

McGraw joined Invesco in December 2009 initially as a senior analyst, before becoming a fund manager within the global equities team.

Invesco Perpetual chief investment officer Nick Mustoe will take over the management of the fund in the interim, backed by the global equity team. Invesco is looking to hire a fund manager for the team in the New Year.

The fund previously held a bronze rating from Morningstar OBSR, which says it will review the rating once it has assessed the developments.

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