GLG hires veteran Powe for European fund launch

GLG has hired veteran European fund manager Rory Powe as it moves to expand its product range with a European long-only fund.

Powe, who has previously worked at Invesco Perpetual, has more than 25 years' experience managing portfolios and selecting stocks in Europe. He joins from Powe Capital Management (PCM), the business he launched in 2001 after his exit from Invesco. At GLG he will launch and run a focused European equity long-only strategy as the group moves to develop its equity offering. Powe made his name running the Invesco Perpetual European Growth fund in the 1990s, but left after a period of underperformance following a dramatic increase in the size of the portfolio which impacted his mid-cap ...