Five years ago

What made the news on 22 February 1999

Rapid growth for Rory Powe fund Invesco Perpetual was playing down the massive growth in Rory Powe's European Growth fund over the previous year. From £250m at the beginning of 1998, the fund had grown to £826m in mid-February, with Powe taking £6m to £7m a day. Then deputy chief executive of the group Mike Webb said the increased size of the fund would not create any problems with its management and claimed this would remain the case until the fund reached £2bn, which it did the following year. Edinburgh and Premier launches split capital portfolios Edinburgh Fund Managers and Premier ...