Invesco Perpetual has continued the promotion of more junior fund managers with William Lam being given full responsibility on its £948m Asian equity strategy.
Mr Lam (pictured) has been co-manager of the Invesco Perpetual Asian fund alongside head of Asian equities Stuart Parks since 2015, but will now assume full control.
As a result, Mr Parks will step back from the day-to-day management of the fund he has run since 2005 on May 1.
The move comes as Invesco Perpetual ramps up its attempts to bring through junior managers on its offerings. In its fixed income arm, bond stalwart Paul Read recently stepped back on several strategies to give other managers more prominence.
Similarly, the firm then launched an emerging market debt fund for newer managers, with no involvement from Mr Read or his co-head Paul Causer.
Mr Lam joined Invesco in 2006 and began managing Asian equity portfolios in 2009, mainly on the Pacific equity funds for both Invesco Perpertual and Invesco.
Mr Parks said: "The decision for William to become the sole manager of the Asian Fund is the natural next step in his career progression and is in recognition of the important role he has played in delivering outperformance for our clients and helping grow the assets of the franchise overall."
