Invesco Perpetual European Growth - fund merger
By Meera Patel | 20 Feb, 2008
Invesco Perpetual has recently completed a strategic review of their European funds. As part of this review, they are looking to merge the Invesco Perpetual European Growth Fund into the Invesco Perpetual European Equity Fund.
When Invesco and Perpetual merged in 2001 both companies had two established European funds which were managed by separate managers and utilised different investment styles. Over the years, these teams have become integrated under the stewardship of Jeff Taylor and both funds have become more aligned and are now managed using the same investment styles.
Invesco Perpetual believe the merger of these two funds will remove any duplication in funds and will allow the fund management team to focus their resource on a concentrated fund range which should also benefit long term investors. The merger is due to take place on 20 March 2008.
Jeff Taylor will be the lead manager of the merged funds and Stephanie Butcher, who currently manages the European Growth Fund will continue to be an integral member of the team assisting Jeff Taylor and managing other European funds for the group.
The merged fund will also sit comfortably alongside the Invesco Perpetual European Opportunities and European Equity Income Funds which were recently launched by the group. It will continue to focus on larger companies and will remain a core European proposition.
Given the nature of current volatile markets, the funds’ focus on larger companies has been serving it well and we are pleased to see recent performance has been encouraging relative to its peer group. We believe the move to rationalise the group’s European fund range makes sense and investors should continue benefiting from the skills of an established team. Although not on our Wealth 150 we will continue to monitor the funds for possible future inclusion.
Please click on the fund names below for the relevant Key Features;
Invesco Perpetual European Growth
Invesco Perpetual European Equity
