Investors to wait and see whether Butcher's Invesco revolution can reverse underperformance

An end to turnovers and losing mandates?

Changes instigated at Invesco by new CIO Stephanie Butcher will put the firm in a transitional period, with fund buyers keen to wait and see whether 2020's turnover will translate into better performance for the group.

Invesco has long topped both underperformance and outflow tables for UK fund managers. Having led the past five editions of Tilney Bestinvest's Spot the Dog compilation of poor performing funds, Invesco accounts for the largest number of funds in the list, at 13, and the most assets, at £11.4bn, meaning a third of its assets are currently underperforming for clients. As a result, the company has seen persistent outflows from its UK-domiciled open-ended fund range, estimated to be in excess of £21.4bn in the 36 months to 31 December 2020. During that time, only eight of its 47 funds...