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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.



FSA fails to crack down on bankers’ pay

The FSA has not brought a single enforcement case over failures to comply with the regulator’s remuneration code since it was introduced three years ago. The Sunday Telegraph reports FSA staff have been holding back from launching enforcement cases and are instead opting for regular informal conversations with banks and brokers. One source told the […]


Advisers’ New Year’s resolutions and business aims for 2013

The Christmas period offers an opportunity to reflect on the year just gone and plan for the year ahead. Money Marketing talks to number of advisers to find out what their new year’s resolutions are and their all important business aims for 2013. Jason Butler, partner, Bloomsbury Financial Planning “We’re already experiencing enormous growth, we […]


Aviva unveils latest protection and retirement planning TV ad

Aviva has begun airing its latest national TV ad campaign which focuses on the key life stages when consumers can benefit from protection and retirement planning. The 60 second “Cradle Talk” ad was first broadcast on Boxing Day and will continue to run throughout next year. It again features Paul Whitehouse, who has led several […]


Hector Sants awarded knighthood

Former FSA chief executive Hector Sants has been knighted as part of the New Year Honours for 2013. Sants (pictured), who left the regulator in June, was recognised for services to financial services and regulation. It emerged earlier this month Sants was joining Barclays as head of compliance and government and regulatory relations, reportedly on […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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