“Invesco still has a very strong fixed income team, which has been built up methodically over the years. This, combined with the fact that both Pauls will remain in-situ until the end of this year, means we believe investors can take their time to decide if they want to stick with the funds or move elsewhere."
Ryan Hughes, head of active portfolios at AJ Bell, added: “The ‘two Pauls’ have been synonymous with the fixed interest capability at Invesco for longer than most fund research analysts have been in the market and therefore their well-earned retirement at the end of the year will certainly be a loss to the business.
"However, the announcement a year ago that they were stepping back on a number of funds to allow their colleagues to take more of a front foot was a sign that this announcement would come sooner rather than later.
“Looking ahead...with a solid and experienced team, there is certainly no need for existing holders of any of the Invesco fixed interest funds to panic and given the well communicated handover, I expect little impact on the funds over time.”
sally.hickey@ft.com
