Invesco Perpetual is evolving a remuneration scheme designed to ensure its leading fund managers rem...
Invesco Perpetual is evolving a remuneration scheme designed to ensure its leading fund managers remain committed to the business in the longer term.
When Invesco acquired Perpetual in October 2000, the latter's fund managers were incentivised to stay, with packages maturing between December 2001 and March 2002.
Invesco would not comment on its plans, although the lock-in for former Perpetual managers is far from the only incentivisation scheme the group has in place for senior managers. All managers are awarded bonuses based on portfolio performance but there is also a graded series of positions, associate partner, partner and, most senior of all, global partner, which bring with them rolling grants of Amvescap share options.
Former Perpetual fund managers Neil Woodford, Stephen Whittaker and Bob Yerbury are all global partners in Invesco Perpetual. However Paul Causer and Paul Read, managers of the Corporate Bond, Global Bond and Monthly Income Plus funds, are not currently.
Of Invesco's best known managers, UK equity income specialist Graham Kitchen, European manager Claire Griffiths and UK small cap manager Andy Crossley are all global partners.
Amvescap's share price has fluctuated sharply since the start of 2000. At the end of January in that year, it stood at £6.76, rising as high as £15.40 in October 2001, before falling back to £8.53 as of 28 February 2002.
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