Invesco Perpetual has promoted Jonathan Brown as head of UK smaller companies replacing Richard Smith, who will retire from fund management in 2014.
Jonathan Brown will become the sole fund manager of the Invesco Perpetual UK Smaller Companies Equity Fund and Invesco Perpetual UK Smaller Companies Investment Trust plc, effective from 30 December 2013.
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Following the move, the investment objective of either the fund or the investment trust will remain unchanged.
Brown, who has joined Invesco in 2000, became co-manager on both the open ended fund and the investment trust in March 2011.
Smith, with more than 40 years of industry exerience, joined Invesco in 2002 and has been managing the two smaller companies’ funds. Prior to this, he has worked for 17 years at Lazard Asset Management. Smith started his career with Triumph Fund Managers in 1973.
Invesco Perpetual chief investment officer Nick Mustoe said Brown has been managing the funds alongside Smith since March 2011.
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By GlobalData"His fund management partnership with Richard has been extremely successful and I am confident that he will continue to focus on producing good long term investment returns for our clients," Mustoe added.
