In the Margins

Invesco, shareholder in U.K. fund, board row

May 31, 2018

By Financial News

Invesco has been attacked by a leading shareholder over an "unjustified" attempt to oust directors at one its investment trusts—an increasingly acrimonious spat that has broader implications for the governance of U.K. mutual funds. Invesco filed a resolution calling for the sacking of the independent chairman of the Invesco Perpetual Enhanced Income Trust and another of its senior directors on May 22 following a dispute over the fees that the fund pays to Invesco. In an unusual move this week, wealth manager Brewin Dolphin, which owns 2.5% of the Invesco Perpetual Enhanced Income Trust, came out strongly in favor of the trust's board. Read the original story from Financial News.

 

 

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