Mark Lattis, a seasoned investment professional with more than $3 billion under his watch, has surfaced as the latest addition to a growing list of portfolio managers who have left Invesco within the past 18 months, Rocky Mountain News reports.
Lattis, who helped steer Invescos $2.2 billion Core Equity Fund and $719 million Total Return fund, voluntarily stepped down to pursue other business opportunities, according to a spokesman. The Core Equity Fund is now being managed by John Ferreby, Andrew Shipman, Jeff Krumpelman, Richard Hermann and Carl Hafele.
Some of Lattis former peers have left their posts to join a growing community of independent Denver-based hedge fund managers. Hedge funds are potentially more lucrative for skilled portfolio managers that traditional mutual funds.
Invesco has experienced a rotation among its top portfolio managers during the past year. For example, Sean Katof and Jeffery Morris, who helped manage the Core Equity Fund, were asked to step down in October. In addition, six fund managers were downsized during the integration of 20 funds after London-based Amvescap PLC decided to merge key investment management units of its Invesco and AIM Investment Management subsidiaries.