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.

 

 

FPA Advertisment

Most Read

10 Things
10 Things...on the regulatory agenda

The Securities and Exchange Commission has been accused of "over-regulation" in recent years as it has proposed and finalized dozens of rules in a relatively short ...