Invesco Endeavor Fund Hands Solo Reins to Trent May

Tim Miller has handed his lead manager duties on the young and solid (IVENX - Cramer's Take - Stockpickr)Invesco Endeavor fund to co-manager Trent May, the company said Thursday.

The move comes in the wake of Miller's July 19 promotion to chief investment officer at the $51 billion Denver growth shop. A company statement said Miller would continue to help manage the fund and that the management change doesn't signal a change in strategy for the $389 million all-cap growth fund.

Launched in October 1998, the fund invests in companies of any size that the manager believes are poised for outsize growth. Though it follows an all-cap strategy it has a large-cap bias -- 70% of the fund's assets were invested in large-caps at the end of June. It also has a taste for tech stocks, with more than 60% of its assets invested in the mercurial sector.

So far the strategy has worked out well. Over the past year the fund is up 63.5%, beating the S&P 500 by more than 50 percentage points and 95% of large-cap growth funds, according to Morningstar. Since Jan. 1 the fund is up 7.5%, which also beats its average peer and the S&P 500.

May has managed (FLRFX - Cramer's Take - Stockpickr)Invesco Blue Chip Growth since 1996. Over the past three years that tech-heavy fund's annualized return is 33.2%, beating the S&P 500 and its average large-cap growth fund.

At midday, Invesco's Web site still listed Miller as the fund's lead manager. He's also led the solid (FIDYX - Cramer's Take - Stockpickr)Invesco Dynamics fund's management team since 1993. The company's statement doesn't mention the Dynamics fund and company officials didn't immediately return a phone call.

See Wednesday's Fund Moves, Manager Changes.