Yerbury to step down from Invesco Perpetual Select trust

Invesco Perpetual managing director Bob Yerbury is to step down from his co-manager role on the Invesco Perpetual Select investment trust as the group revamps its mandate.

Yerbury runs the global equity share portfolio of the £ trust, which is set to have a greater income focus in a bid to boost dividends. "The board is proposing a move to a greater income orientation in the investment policy of the global equity portfolio, which will entail a change of portfolio manager within Invesco Perpetual, subject to shareholder approval," said the group, "The initial target dividend yield will be 3.5% with potential for dividend growth in the future." Yerbury has been preparing for his eventual retirement by gradually stepping back from day to day fund manage...