Invesco Shakes Up Domestic-Equity Growth Team
Plus, Matthews manager changes, and more.
Invesco has snatched a prominent Wells Fargo manager and made several other much-needed manager changes in an effort to revive its U.S. mid- and large-cap growth funds. Many of these funds, which once accounted for most of Invesco's domestic-equity assets, have been inconsistent and now represent the smallest slice of the money managed by the group.
Paul Rasplicka, who had managed Invesco Dynamics (FIDYX) since July 2004, has left the firm, and Brent Lium, who joined in July 2008, is no longer a listed manager but remains at Invesco on the team. Rasplicka is also off Invesco Capital Development (ACDAX), which he'd run since early 1998, and Invesco Van Kampen Mid Cap Growth (VGRAX), which he'd managed since June 2010.
Courtney Goethals Dobrow does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.