Invesco appoints Smith to run small-cap trusts

Invesco Perpetual has hired long-serving Lazards fund manager Richard Smith to take over the managem...

Invesco Perpetual has hired long-serving Lazards fund manager Richard Smith to take over the management of its UK Smaller Companies Core fund and the Perpetual UK Smaller Companies Investment Trust. The two funds, which currently hold a total of around £383m in assets under management, were left without their previous managers when first John Sweet left to join Teather & Greenwood Investment Management and then Mark Niznik joined Standard Life. Smith, who will be based in Henley, had worked for Lazards since 1975, where he was director in charge of UK smaller company funds. In Invesco...