Nick Mustoe, Invesco’s Chief Investment Officer of their Henley office, is stepping down at the end of 2019. Stephanie Butcher is taking over from him on 1 January 2020. Butcher has over 25 years’ experience and joined Invesco in 2003 as a fund manager in the European Equities team.
As both Mustoe and Butcher currently manage or co-manage several funds, there are going to be some manager changes.
- Invesco Global Equity – Andy Hall to take over from Nick Mustoe
- Invesco Global Equity Income – Stephen Anness to take over from Nick Mustoe
- Invesco Global Smaller Companies – Invesco Global Smaller Companies Group to take over from Nick Mustoe
- Invesco European Equity – Stephanie Butcher to step down as co-manager and Jeff Taylor to become sole manager
- Invesco European Equity Income - Oliver Collin to take over from Stephanie Butcher
- Invesco Managed Income/Invesco Managed Growth – Invesco Multi Asset Team to take over from Nick Mustoe
Until the beginning of 2020, the funds will continue to run as they are. Once the manager changes take place, we don’t expect any of the funds’ aims, philosophies or processes to significantly alter. As with most new managers though, we’d expect some changes to the investments within the funds' portfolios.
We don't think investors need to take any action due to the changes, as long as the funds still meet your objectives. None of them feature on the Wealth 50 list of our favourite funds as we have higher conviction in other managers.