has planned to unveil its Global Growth Fund on the first of December, days after the liquidation of its Pacific Basin and Latin American Growth Funds.
Invesco spokesman Matt Barker asserted that the two events are unrelated and the sector funds were slated to be liquidated for independent reasons. At the beginning of this year, the Pacific Basin fund had $138.7 million in assets and the Latin American fund had $28 million.
"It was too narrow a geographical focus for our customers," said Barker.
Nonetheless, the new Global Growth Fund clearly offers investors the opportunity for international investment without the risk of overspecialization. Invesco also has a growth-focused European fund with assets of $885 million as of October 31, 2000.
"Once they looked at it, they thought that global funds would be an area of growth for Invesco," said Barker.
, recently appointed as director of research, will head management of the Global Growth Fund. Invesco expects that his duties overseeing the company's equity analysis will contribute to his management of the new fund.
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