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“News that Mark Barnett has left Invesco will perhaps come as little surprise after the last couple years with performance suffering and questions being asked over the positions taken in the portfolios, particularly around illiquid small caps and unquoted companies," says Ryan Hughes, Head of Active Portfolios at AJ Bell.
"While Invesco would have been hoping that the steps taken to improve performance in recent months would have been sufficient, it is clear that making a clean break has been decided as the better course of action for both parties. With a review of the UK range also having taken place, Invesco clearly want to try and get their UK franchise back on the front foot, however it will take a long time for the new managers to turn around performance.
“Looking ahead, investors will need to think about whether they remain in the Invesco funds and further clarity will be needed from the new managers as to any portfolio changes that may be made.”
Read the announcement from Invesco here.
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Ryan Hughes: Managing Director of AJ Bell Investments
Ryan Hughes is AJ Bell's Managing Director of AJ Bell Investments. He joined AJ Bell in 2016 as Head of Fund Selection before moving on to become Head of Investment Partnerships and later, Investments Director...