Rory Powe to leave Invesco Perpetual

Rory Powe is leaving Invesco Perpetual as manager of the European Growth fund to run his own independent hedge fund. He will remain at the helm until the end of the year to assist with the handing over process and will be replaced by Alistair Hibbert who has worked alongside Rory for the last three and half years and is one of the senior committee members on the fund. Powe made a name for himself with the European Growth fund at the height of the tech stocks boom, when the fund was worth £4bn, however, the fund has since lost ground and has assets under management of around £1bn.