Trust analysts praise 'outbreak of sanity' as IP Enhanced Income board reappoints Invesco as manager

Follows months of negotiations

Investment trust analysts have welcomed news that the board of the £120m Invesco Perpetual Enhanced Income trust has reappointed Invesco as manager, which has seen the fund's share price rise by 5% and its discount swing back to a premium.

Fixed income stars Paul Read and Paul Causer who have been managing the Invesco Perpetual Enhanced Income trust since 2004, will remain as its managers alongisde Rhys Davies after months of negotiations with the board following a relationship breakdown, which led to the team announcing its resignation. The dispute was initially thought to be over performance fees when it was made public in April, though it later came to light that the managers' decision to resign was "in fact based on the behaviour of the chairman, which made managing the trust untenable for Invesco". However the part...