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Invesco Perpetual to merge funds

Invesco Perpetual, an investment management company, has announced that it will merge both the Invesco Perpetual US Aggressive Fund and the Invesco Perpetual US Smaller Companies Fund into the Invesco Perpetual US Equity Fund on May 23, 2008, subject to shareholder approval.

The newly merged Invesco Perpetual US Equity Fund will focus on investment in larger companies and will be managed by US fund manager Andrew Shard, who joined Invesco Perpetual in November 2007.

In addition to his fund management responsibilities Mr Shard joins the asset allocation committee and the global select investment trust committee.

Bob Yerbury, CEO and chief investment officer of Invesco Perpetual, said: In focusing our investment expertise into a single broad-cap US equity Fund and with the recent appointment of Andrew Shard we are taking the necessary steps to reinvigorate our US equity business.