Mick O’Brien
Invesco anticipates the ‘on hold’ rating it received from Standard & Poor’s (S&P) yesterday for its Australian share funds will remain for the next couple of months while it looks to fill two senior positions in its investment team.
S&P placed the funds on hold because the departures of Rohan Walsh, head of Australian equities, and Luke Sinclair, investment manager, meant a significant change had occurred.
Walsh and Sinclair had worked together at Invesco since 1999 and were the senior members of the portfolio management team.
Both the Invesco Australian Share Fund and the Invesco Wholesale Australian Share Fund were affected by the departures.
Invesco director of retail sales and marketing Mick O’Brien said the investment team was currently putting in place a management approach to satisfy the objectives of the fund.
He added Invesco was investigating a number of options for replacing Walsh and Sinclair, however this process could take a couple of months.
S&P will review its decision after meeting and reviewing the new investment team.
