Invesco Perpetual has named Simon Laing - latterly of Newton Investment Management - as head of US equity fund management.  

Laing will take over management of the Invesco Perpetual US Equity Fund, as well as playing a role in the company’s global equity team.

While at Newton, a UK subsidiary of BNY Mellon, he was director of investment management for North American equities and co-chairman of the equity strategy group.

The former lead manager of Invesco's US fund, Andrew Shard, left the company in July and Nick Mustoe, chief investment officer, has been managing the fund on an interim basis.

The company’s US Equity Fund has underperformed so far in 2011, declining 1.9 per cent while North American funds (as measured by Trustnet) have risen by 0.6 per cent.