Invesco Perpetual has merged its emerging market and Asian equities teams under the co-leadership of William Lam and Ian Hargreaves, ahead of the retirement of previous team heads Stuart Parks and Dean Newman next year.
Amid an ongoing succession plan, the £13.2bn Asian equities franchise has combined with the £693.2m emerging markets equity business to form the Asian & emerging markets equities team after working closely together in previous years and sharing a common investment approach and philosophy.
Lam and Hargreaves took over their new roles as head of Asian & emerging markets equities on 1 September 2018.
The group said Lam has worked closely with Parks as a fund manager on the Asian equities team since 2006, when he joined the firm from Orbis Investment Advisory. He began running funds in 2009 and is responsible for the group's Asian fund and the Asian portion of Invesco's Pacific funds.
Meanwhile, Hargreaves has also worked alongside Parks as fund manager since 2005. He has over 20 years of investment experience after beginning his career as an analyst for Invesco Asia Pacific in Hong Kong in 1994.
Hargreaves is responsible for the Invesco Asia Trust, the Asian Focus Equity fund and the Asian portion of Invesco Perpetual's global small cap funds.
Invesco said bringing the two teams together will ensure "greater depth and strength across key markets".
Nick Mustoe, CIO, explained: "Our careful long-term succession planning is key to ensuring that we have a strong, stable and highly experienced set of investors who are able to assume leadership and investment responsibilities when the time comes.
"William and Ian are talented and experienced fund managers who have a close and complementary working relationship. They have played important roles in developing our Asian equities capability and are well qualified to successfully manage and develop our emerging markets team."
Parks is set to retire in July 2019 after heading up the Asian equities franchise since 2004, while Newman is retiring January next year after almost 25 years with Invesco. He became head of emerging markets in 2007.
Both will be actively involved in managing the funds until their departures.
Mustoe added: "Stuart and Dean's investment careers span 33 and 32 years respectively, and they can be extremely proud of the leading investment capabilities that they have established here at the Henley investment centre.
"On behalf of everyone at Invesco, I would like to thank them for their tremendous contributions to helping our clients achieve their investment objectives and wish them the very best for their eventual retirements."
Parks commented: "Will and Ian are experienced and proven investors and we are confident in their ability to lead a strong team and continue to deliver the highest quality of investment insight and long term outperformance for our clients."
Newman said: "These developments really highlight the depth of individual and team talent we have focused on progressing within the Henley investment centre as part of our long-term succession planning."
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