Invesco Perpetual's Parks turns cautious on Asia

Invesco Perpetual's Stuart Parks has moved his Asian fund more defensive in anticipation of a short-term ‘pause' in markets.

The head of Asian equities, who is the manager of the £604m IP Asian fund and responsible for around £1.5bn in total AUM, has made a series of changes over the past three months in response to inflationary pressures. This follows a period of fairly consistent fund positioning for Parks over the past two and a half years. He said: “In the past three months we have become more cautious. One of the by-products of monetary expansion has been inflation. Central banks are increasing interest rates, which will lead to a slower rate of growth. We have taken off some of the more aggressive bets a...