Invesco looks to reform Latin American fund as EM ex China fund

Subject to shareholder approval

Invesco is looking to reposition its £77.7m Latin American fund as an Emerging Markets ex China fund.

The change, subject to shareholder approval, would occur on 31 March. "Following a review of the fund, Invesco has concluded that the fund does not deliver value to investors as it has not outperformed its comparator benchmark as consistently as they would expect," a letter seen by Investment Week said. In the three years to 15 February the fund, which is run by Nicholas Mason, has lost 15.1% while the MSCI Emerging Markets Latin America index lost 11.3% and the Investment Association Latin American sector lost 14.1%, according to FE fundinfo. Penny Lovell steps down as Sanlam Priv...