Hickey will manage more than $1 billion in assets held in INVESCOs High Yield and Select Income funds, the company announced today. Hickey replaces Jerry Paul, who is "assuming a consultative role during a transition period," the company said in a statement.
Hickey will run the High Yield Fund independently and will co-manage the Select Income Fund with Richard Hinderlie, who was also named manager of INVESCOs Balanced Fund, which was formerly managed by Paul. In addition, Hinderlie manages the firms money market funds and U.S. Government Securities Fund.
Hickey and two other portfolio managers left Van Kampen in late July when the firm announced it would hand the management of its fixed income products to Morgan Stanley Investment Management, the investment management arm of its parent company, Morgan Stanley Dean Witter, said a spokeswoman for Van Kampen.
As director of corporate bonds With Van Kampen, Hickey was the senior manager for the firms High Yield Bond, High Income Trust, High Income Trust II, Income Trust and High Income Corporate Bond funds. He also managed $4 billion in an SPDA annuity company for OakRe Life/Xerox Financial Services Life Insurance.