David Millar steps back from direct fund management at Invesco

He will remain accountable for the troubled Global Targeted Returns fund, which he has helped build since he joined the firm in 2013, and has seen assets under management shrink by almost £10bn over the past three years. Investors to wait and see whether Butcher's Invesco revolution can reverse underperformance He will also be responsible for the Global Targeted Income strategies, Managed Income and Managed Growth funds, and the Summit Growth and Summit Responsible ranges. Millar joined Invesco from Standard Life Investments, where he worked as a fund manager on the now embattled G...