Invesco is paring back its management team as four of its portfolio managers were issued their walking papers, Reuters reports.

The Denver-based firm is the latest fund shop to go under the knife as skippers Brian Hayward, Richard Hinderlie, Robert Hickey and Peter Lovell were recently removed from the manager list on the company’s website, the report said. The move is a result of parent company Amvescap's restructuring plan to eliminate 20 mutual funds by merging them into other portfolios . Two analysts are also exiting the firm.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.