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

Trump, Modi and US-India trade tensions – who cares?

Trump, Modi and US-India trade tensions – who cares?

A bottom-up approach to finding hidden gems

Gabriel Sacks
clock 02 January 2026 • 4 min read
2026: Year of the racehorse or workhorse?

2026: Year of the racehorse or workhorse?

'Every year brings its challenges, and 2026 will be no exception'

Russell Andrews
clock 02 January 2026 • 4 min read
Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Will continue to be led by current management team

Patrick Brusnahan
clock 23 December 2025 • 2 min read