7 January 2021 - Invesco has decided to disband its Henley-based Japanese equities team and move management of its UK and Luxembourg domiciled funds to the company’s dedicated investment team based in Tokyo, which already manages US$11.6bn in Japanese equity assets.
Subject to regulatory approvals and client notice periods, these changes should be completed in the first half of 2021.
As a result of this review, current co-manager of these funds, Paul Chesson will be leaving Invesco by mutual consent.
Stephanie Butcher, Chief Investment Officer, Henley Investment Centre at Invesco commented: “Paul has been a long standing and highly respected member of the team, on behalf of us all, I would like to thank him for his contribution and wish him the very best for the future.”
The other current co-manager, Tony Roberts, will be sole manager of the Invesco Japan Fund (UK) and Invesco Japanese Equity Core Fund until they are successfully transitioned to the Tokyo-based team in the first half of 2021. Tony will then transfer to the Asian Equities team.
In addition to the manager change, Invesco’s intension is to transition the UK domiciled Invesco Japan Fund (UK) to the new Japanese Value Discovery strategy.
While the new strategy continues to adopt a high-conviction active investment process, it also embeds environmental, social and governance (ESG) criteria within the investment process and applies negative and positive ESG screening to select the best valued Japanese equity stocks.