The firm has shuffled the management of a flagship Asia fund.

UK-based Invesco Perpetual has reshuffled the management of its portfolio leadership, putting William Lam in sole charge of its Invesco Perpetual Asian Fund. 

Lam has been a fund manager with the Asian equities team since 2006 and became co-manager of the fund in 2015, working alongside the company’s head of Asian equities, Stuart Parks. He has been managing pan-Asian portfolios at the firm since 2009, including the Asia-Pacific ex-Japan portion of the Invesco Perpetual Pacific Fund and the Invesco Pacific Equity Fund since 2010.

As a result of the change, Parks will no longer work on the fund with Lam, freeing up his time for other responsibilities at the group, a spokesperson said. "By making William the sole manager of the Invesco Perpetual Asian Fund, Stuart will have more time to dedicate to developing Invesco’s institutional offering as well as nurturing the significant pool of talent within the Asian equities team. Stuart will continue to manage the offshore Invesco Asian Equity Fund," the spokesperson added. 

“The decision for William to become the sole manager of the Asian Fund is the natural next step in his career progression and is in recognition of the important role he has played in delivering outperformance for our clients and helping grow the assets of the franchise overall,” Parks said in a statement. 

Since 2009, Lam’s portfolios have on average outperformed the benchmark index by 6.7 per cent per annum. This figure is based on the chain-linked performance of Asia-Pacific ex-Japan sub-portfolios (from 1 January 2009 to 30 April 2015) and the IP Asian Fund co-managed with Parks (from 1 May 2015 onwards), against performance of the MSCI AC Asia Pacific ex Japan index. The figures are in sterling, gross of all charges and do not reflect the entry charge paid by individual investors, according to Invesco Perpetual.

The fund has £949 million ($1.186 billion) of assets under management (as of 28 February 2017).