Investment manager Invesco plans to close its global targeted return strategy as it looks to simplify its multi-asset range.
The closure is subject to regulatory approval.
The firm has made the decision based on a review which concluded that demand for targeted return strategies continues to diminish. Therefore, it wants to focus on other capabilities within its multi-asset operation where it is seeing strong client demand.
Formed in February 2023, the Multi-Asset Strategies (MAS) Group encompasses capabilities across multi-asset, systematic/factor investing and the solutions teams.
Invesco believes that client demand will continue for outsourcing capabilities through the Summit ranges and model portfolio services.
Stephanie Butcher, senior managing director and co-head of investments at Invesco, said: “Our global targeted return strategy has been a key pillar of investment for clients globally, since its launch in 2013 and has historically served clients well.
“We are immensely proud of the team and the contributions they have brought to the business over the past ten years and will continue to serve our clients as we move into a new era of multi-asset. However, demand has shifted and innovation in other areas is constantly evolving, so we have taken the difficult decision to close the global targeted return strategy.
“Within the MAS Group, some of the key focus areas of client interest are our Summit Growth and Summit Responsible ranges, MPS, along with tailored portfolios for institutional and retail clients, which our well-established solutions team has offered globally since 2015.”
