Invesco Global Targeted Returns loses Square Mile rating following Millar's departure

Jupiter UK Alpha downgraded

Invesco Global Targeted Returns has lost its A rating following a run of poor performance and David Millar, one of the fund’s three original managers, stepping back from direct fund management, according to the latest Square Mile Investment Consulting and Research Academy of Funds.

Square Mile added that Millar was the second of the fund's original managers to step back, following David Jubb's departure in 2020, and that the removal of the rating was a "difficult decision". David Millar steps back from direct fund management at Invesco "The combination of disappointing performance and changes to the team has undermined Square Mile's conviction to the extent that the analysts feel the fund's A rating can no longer be justified," the firm explained. Premier Miton Multi-Asset Conservative Growth also lost its rating this month, with the change in management and ...