The Believers

INVESCO joins the rush to offer funds based on sector themes, not geography. But where will this leave Asia?

INVESCO is doing the rounds in Asia promoting new sector funds, including ones dedicated to financial services and energy and natural resources, as well as a global growth fund that has been restructured as a multi-sector vehicle. Singapore-based Andrew Callender, investment director of global products, says the funds will launch on 19 February.

Sector themes are not new, but Callender outlines a vision of how they could usurp traditional geography-based funds as core holdings, not just for retail investors, which have to date been enthusiastic customers, but also for institutional clients. It boils down to what degree investors buy into globalization and other meaty concepts.

Callender explains that if you believe a series of...

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