Invesco and Barnett relieved of Perpetual Income and Growth management duties

Follows 'an extended period of underperformance'

Mike Sheen
clock • 3 min read

The board of the Perpetual Income and Growth trust has given Invesco Fund Managers a notice of termination, removing Mark Barnett from management duties after "an extended period of underperformance".

Barnett, who has managed the trust for more than 20 years, has previously been under pressure from the trust's board, which said the "the decision had not been taken lightly" and identified the manager's failure to benefit from an anticipated "Brexit bounce" had "proved to be short-lived". It follows a similar decision taken by the board of the Edinburgh investment trust last year, which saw Barnett replaced with Majedie Asset Management CIO James de Uphaugh after period of underperformance. the £400m Perpetual Income and Growth has seen a share price decline of 36.5%, 40.9%, and 40.9...

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 Investment

Why 2026 is the time for investors to challenge market 'certainties'

Why 2026 is the time for investors to challenge market 'certainties'

Six critical questions investors should be asking themselves

Matthew Spencer
clock 09 February 2026 • 4 min read
Advisers zoomed in on capital accumulation in Q4 2025

Advisers zoomed in on capital accumulation in Q4 2025

Titan Square Mile research finds

Jen Frost
clock 30 January 2026 • 3 min read
Measure for measure: How to track your tracker fund

Measure for measure: How to track your tracker fund

Tracking difference and tracking error

Terry McGivern
clock 28 January 2026 • 3 min read