'Household name' asset managers battle for management of Invesco trust

Board highlights four proposals

Jayna Rana
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 Invesco's Paul Read and Paul Causer, current managers of the trust
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Invesco's Paul Read and Paul Causer, current managers of the trust

The board of the £120m Invesco Perpetual Enhanced Income investment trust has said it has received "strong proposals" from a range of potential managers to take over responsibility of the trust from Invesco Perpetual, who announced its resignation last month.

In a statement released this morning, the board said a number of "highly credible proposals to act as investment manager for the company" had been received in response to the recruitment process initiated after Invesco submitted its formal resignation by letter in April. The board said the proposals had been submitted "despite the disruptive requisition that followed Invesco's resignation" and were predominantly from "household names" in the asset management industry.   Invesco Perpetual handed its 12 months' notice as manager of the trust last month following disagreements over fee a...

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