Invesco fund management duo set to retire

Invesco fund management duo set to retire

The respective heads of the Invesco emerging market and Asian investment teams are to retire within a year.

Dean Newman, head of emerging market equities at the Henley-based firm, and manager of a range of funds including the £379m Invesco Global Emerging markets fund, will retire in January 2019.

Stuart Parks, head of Asian equities at the firm, runs the Invesco Asian Equity fund.

He will retire in July 2019.

The Asian and emerging market desks at Invesco will merge, with William Lam and Ian Hargreaves becoming co-heads of the department.

Mr Lam runs the IP Asian fund, while Mr Hargreaves runs the Asian investment trust at the firm, among other mandates.

Nick Mustoe, chief investment officer at Invesco, said: "The success of the Henley investment style is firmly rooted in the team approach.

"Invesco Perpetual has a world-class investment culture with one of the longest-serving investment groups in the industry, and our careful long-term succession planning is key to ensuring that we have a strong, stable and highly experienced set of investors who are able to assume leadership and investment responsibilities when the time comes.

"William and Ian are talented and experienced fund managers who have a close and complementary working relationship. They have played important roles in developing our Asian equities capability and are well qualified to successfully manage and develop our Emerging Markets team."

Philip Milton, who runs PJ Milton and Co, an advice firm in Devon, said he is an admirer of the value style of investing used by Invesco.

This article has been amended to clarify the funds managed by Mr Parks and Mr Lam.