Methinks Mark Barnett doth protest too much.
Invesco has been forced to put out a lengthy statement defending the performance of his investments, his fund’s liquidity, outflows and his investment objectives.
It followed a downgrade by Morningstar, which in turn had followed an in-depth analysis in the Sunday Times.
You can make as many grand statements as you like about what you are trying to achieve – but professional investors are not idiots.
They can see the fund is fourth quartile over any period (except the past three months) going back five years – and over that longest horizon is 227th out of 230. That is at the heart of the issue.
Mr Barnett rejects comparisons to former colleague Neil Woodford, but like Mr Woodford his woes lie in performance above and beyond everything else. Only better investment returns can stop the comparisons between the two.
Thank you to all the financial advisers who recently pointed me to scam adverts for savings that claimed to be recommended by The Times among others.
None of them were – and we are taking steps to have them removed.
It is time the Financial Conduct Authority and Treasury stopped arguing about their regulatory powers and acted together to protect savers from these phoney deals that are a scourge on this industry.
James Coney is money editor of The Times and The Sunday Times