Change of managers for Invesco Perpetual bond funds

17th November 2016 - Invesco Perpetual's co-heads of fixed interest, Paul Causer and Paul Read, are handing over the management of four of their funds.

The reshuffle, according to Invesco, is a reflection of the expanding experience in the team, rather than either Paul taking a step back from fund management. And, with more than £30 billion of fixed income assets under management, responsibility and workload will be spread more evenly.

Paul Read is stepping back from three funds, one of which is on the Chelsea Selection: Invesco Perpetual Corporate Bond. Paul Causer will remain on the fund, as will existing co-manager Michael Matthews.

The other two funds are Invesco Perpetual High Yield Bond and Invesco Perpetual Global Financial Capital fund. The High Yield Bond fund will also still be managed by Paul Causer, with the help of Thomas Moore, and Global Financial Capital will also be run by existing co-managers Paul Causer and Julien Eberhardt.

Paul Causer is stepping back from Invesco Euro Corporate Bond fund, which will be run by Paul Read and Julien Eberhardt.
Invesco Perpetual Monthly Income Plus fund, which is in the Chelsea Core Selection and Income EasyISA, is unaffected by the reshuffle.

Darius McDermott, managing director of Chelsea, commented: As the assets under management have grown in Invesco fixed income products, they have been keen to bolster the team and this is a sign that they are confident they now have the breadth of experience to promote new co-managers to the funds. As one of the two Pauls remains on each fund we are comfortable that the Corporate Bond fund retains its place in the Chelsea Selection.