Invesco to close global targeted returns strategy in push to simplify multi-asset range
Georgina Taylor (pictured), took over as head of multi-asset at Invesco following the retirement of David Millar in March this year.
The closure follows a strategic review undertaken by the firm, which concluded that current demand for targeted return strategies had continued to diminish.
This led to the decision to focus on other capabilities within its multi asset franchise, where it is seeing «strong client demand». For the UK, Invesco believes client demand will continue for its outsourcing capabilities through the Summit ranges and Model Portfolio Services.
The Invesco Global Targeted Returns fund was launched in September 2023, with the aim to achieve a positive total return in all market conditions over a rolling three-year period.
Clive Emery departs from Invesco
The strategy holds £364.2m in assets and is managed by head of multi-asset Georgina Taylor and fund managers Richard Batty, Sebastian Mackay and Gwilym Satchell.
In the last five years, the strategy has returned 0.3%, while the Investment Association Targeted Absolute Return is up 9.6% over the same time period, according to FE Fundinfo.
In February this year, Invesco formed the Multi-Asset Strategies (MAS), which was set up in an effort to simplify its product range, accelerate growth and create «one collaborative global investment function».
Taylor took over as head of the multi-asset team in March this year following the retirement of David Millar, with Clive Emery taking on the role of head of multi asset strategies. However, Emery, who had been at the company since 2015, left the firm in May.
MAS encompasses capabilities across multi-asset, systematic/factor investing, and the solutions teams, bringing together more than 180 people across over
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