InvescoOct 5 2016

Barnett 'passes baton' on Invesco Perpetual Select Trust

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Barnett 'passes baton' on Invesco Perpetual Select Trust

Mark Barnett has relinquished management of the UK portion of Invesco Perpetual's Select Trust after 10 years in a bid to empower one of the firm's "rising stars".

The trust's board has announced that management of the company's UK equity portfolio has passed to James Goldstone after a decade of Barnett's tenure.

Mr Goldstone has worked closely with Mr Barnett for the last four years and currently manages some £160m in UK equity pension fund assets and pan-European equity mandates.

Patrick Gifford, chairman on the trust's board, said: "The board of Invesco Perpetual Select Trust wishes to record its appreciation of Mark's management skill over the 10 years since the company's launch and acknowledges that this is an appropriate time for him to pass the baton to one of the rising stars of Invesco Perpetual's UK equities team."

Mr Barnett has become a more prominent face at the asset manager in recent years, taking on some of its income offerings following the departure of star manager Neil Woodford in 2014.