DENVER - Invesco Funds Group appointed Timothy J. Miller to the newly created post of chief investment officer, effective this Wednesday.
Mr. Miller, 42, a 20-year industry veteran, previously headed Invesco's growth team.
Laura Parsons, an Invesco spokeswoman, said the post was created to give the company strategic direction as it continues to grow. Invesco's assets under management have tripled in the past two-and-a-half years, largely as a result of the funds' performance, she said.
Next month Invesco will introduce a "hedge-like fund," an aggressive growth fund that will use strategies such as leverage opportunities and short-selling, Ms. Parsons said.
It also plans to add analysts and to introduce products in the fourth quarter, she said.
Invesco, which had more than $50 billion of assets under management on March 31, is a subsidiary of Amvescap PLC of London.
