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The insiders' edge for 40 Act industry executives!
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Friday, March 25, 2011 Invesco's PMs Play Musical Chairs Invesco [see profile] is trying to breathe new life into its U.S. mid- and large-cap growth funds with some new faces. Paul Rasplicka, who had managed Invesco Dynamics since July 2004, has left the firm, and Brent Lium, who joined in July 2008, is no longer listed as a manager, Morningstar's Fund Times reports. Rasplicka also ran Invesco Capital Development, and Invesco Mid Cap Growth. In his stead, Invesco has reportedly hired James Leach, former co-manager of Wells Fargo Advantage Discovery and Wells Fargo Advantage Enterprise to take over the three funds and lead the mid-cap growth team. He'll report to U.S. domestic growth equity CIO Juliet Ellis. Under Rasplicka, the Dynamics fund trailed 60 percent of its peers and the Russell Mid Cap Growth Index. Also, Erik Voss will now PM Invesco's large-cap strategies and also report to Ellis. He'll manage the $3 billion Invesco Constellation, the firm's eighth biggest fund. Rob Lloyd, who had run Constellation, has left the firm. Constellation has struggled against its peers and the S&P 500 Index. Printed from: MFWire.com/story.asp?s=36365 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |