Invesco Perpetual have announced a changed of named manager on their International Equity fund. Previously run by Invesco CIO Bob Yerbury, the fund is now under the control of Invesco Perpetual’s Global Equity group. Yerbury will still be involved with the fund, but it will now be run on a more authentically global basis with the Global Equity group comparing stocks internationally - previously Yerbury handled the asset allocation with stock selection delegated to the regional teams on a carve-out basis.
The fund is also to undergo a change of name - from April, it will be called the Invesco Perpetual Global Equity fund.
Recommendation
Though similar processes have proven successful elsewhere, we will wait for the new team to establish a track record before considering the fund for a rating.