Fixed Income  

More departures from Invesco’s investment team

A statement released by Invesco Perpetual on 1 May confirmed that brothers Stephen and Paul Lamacraft, as well as Saku Saha, have all left the company recently. A spokesperson for Woodford Investment Management said that the three individuals had all been offered roles at Mr Woodford’s nascent boutique firm, which will be affiliated to London-based asset manager Oakley Capital.

The statement said that Stephen Lamacraft was responsible for the UK equities side of the £39.98m Invesco Pan European Equity Income fund, and that his reponsibilities had been taken over by James Goldstone, UK equities fund manager.

Mr Saha and Paul Lamacraft, who were analysts at Invesco Perpetual, have been replaced by Frederick Bouverat and other members of the company’s UK equities team.

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The statement added: “Under the leadership of Mark Barnett, Invesco Perpetual has recently strengthened the UK equities team, with the appointments of John Richards, previously chief investment officer at Société Générale Asset Management UK, and Hilary Cook as UK equities product directors.”


Invesco Perpetual received an £18.6m regulatory fine for breaches of rules around investment limits, inadequate trading controls and the introduction of risky leverage partly related to popular income funds managed by Mr Woodford. The transgressions occurred between 2008 and 2011. Both the FCA and Invesco Perpetual have not commented on possible further regulatory action against those involved. When asked if the departures related to the FCA’s fine, a spokesman for Invesco Perpetual denied this was the case.