Invesco Perpetual has decided to go back to its roots as a global equities manager with the launch of a global equity income fund.
“Invesco Perpetual as a business dates back to the 1970s, when we were running a concentrated global equity income portfolio,” said Nick Hamilton, head of international products. “We hadn’t been doing that for a while..
“We had the backbone and the infrastructure to look at every market in the world. But we didn’t have the final piece, which was the person at the top to bring it together.”
Paul Boyne, formerly of Bank of Ireland Asset Management, was recruited to fill the role in September 2008. He will manage the Global Equity Income fund, with about 75 holdings, and the Global Opportunities Fund, previously the Global Dynamic Theme fund.
The timing of the launch is likely to raise some eyebrows – while dividend yields are currently at record highs, this is in large part due to recent plummeting equity prices.
Mr Hamilton was quick to emphasise this was a long-term play..