Invesco Perpetual fixed income stalwart Paul Read is to step back as a listed manager on three of the asset manager's funds amid a broader reshuffle.
From the end of this year Mr Read, who leads the fixed interest team with Paul Causer, will no longer be listed as a manager on Invesco Perpetual's £5.1bn Corporate Bond, £103m Global Financial Capital and £133m High Yield offerings.
Mr Causer and Michael Matthews will continue to work on the Corporate Bond fund, while Julien Eberhardt and Thomas Moore will serve on the Global Financial Capital and High Yield funds respectively, together with Mr Causer.
Meanwhile Mr Causer is to step back from the Invesco Euro Corporate Bond fund, which Mr Eberhardt will work on together with Mr Read.
Mr Causer said: "These developments really highlight the strength and depth of talent within Invesco Perpetual’s Fixed Interest team and there will be no change to the investment process.
"Paul Read and I continue to focus on building a world class fixed interest capability to achieve best outcomes for our growing client base. Key to this is developing fund managers of the very highest calibre and ensuring that they are given investment responsibilities that reflect their expertise and experience.
"For us, this is the natural next step in their career progression and team development.”