Shrinking assets have prompted the closure of six Invesco funds with less than £20m in assets under management, the firm confirmed to International Investment's sister brand Investment Week.
This includes the £19.3m Global Emerging Markets Bond fund, launched in February 2017 and managed by Asad Bhatti and Stuart Edwards, which will close down on 27 January.
The fund has underperformed the IA Global EM Bonds sector by 5.7% over the last three years, losing 11.4%, according to FE fundinfo.
A spokesperson said: "Invesco reviews its fund range on a regular basis and it has been decided that the fund is no longer economically viable and will therefore be closed on 27 January 2023."
The firm has also shuttered five European-domiciled funds, each with less than €15m in assets under management.
These include the Invesco Euro High Yield Bond fund, which had been managed by Stuart Stanley and Niklas Nordenfelt, also launched in 2017. The fund held €12.4m in assets.
Another fund managed by Edwards, the Invesco Global Unconstrained Bond, has also been shut. On 12 October, the fund had £6.6m in assets.
Two sustainability strategies have also been affected. Including the $6.1m Invesco Responsible Emerging Markets Innovators Equity fund, run by Justin Leverenz, and the $7.2m Invesco Sustainable Emerging Markets Structured Equity fund, managed by Alexander Uhlmann and Alexander Tavernaro.
Invesco declined to comment further for this story.
