Assets halved in Powe fund

Professional Adviser
clock

Rory Powe's Invesco GT European Growth fund has lost almost 50% in assets in less than a year, write...

Rory Powe's Invesco GT European Growth fund has lost almost 50% in assets in less than a year, writes Kira Nickerson. The fund has shrunk from £3bn to £1.86bn by the end of June 2001 as a result of underperformance. In September 2000, Investment Week wrote the fund had passed the £3bn mark and, according to recently issues figures from Lipper, as of the end of March 2001, the fund had dropped to £2bn. According to Autif, as at June the size of the fund had further fallen to £1.86bn. For the 12 months to the 25 July, the fund has fallen 51.2%, showing the loss in assets is down almost ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •