Asset manager Invesco has overhauled the line-up of portfolio managers on its bond funds, with one of its two co-heads stepping back from a number of products and a series of promotions in his wake.

Invesco’s 26-strong fixed-income team, based in Henley outside London, manages £27.9bn in all. It is headed by Paul Read and Paul Causer, who said in a statement on 22 July that the changes had come from a “regular review [of] responsibilities within the team”.