A whistleblower has filed a complaint against Invesco Asset Management (India), alleging irregularities in the management of its fixed income schemes.
The complaint has been filed with the Securities and Exchange Board of India (Sebi) as well as with the US Securities and Exchange Commission (US SEC). The complainant has also filed a case with the Bombay High Court, which is currently at a pre-admission stage, according to two people familiar with the matter.
The whistleblower worked as a fund manager with the fund house and was allegedly sacked a few days after the complaint was filed, said one of the persons. Sebi is said to be examining the matter internally and has reached out to the fund house on the matter, said a source. Business Standard could not, however, ascertain the nature of the alleged irregularities.
In an email response, Invesco Asset Management (India) said it maintains policies and procedures for investigating allegations of improper conduct received from any source and always handles such matters in a manner consistent with global best practices.
“Invesco seeks to maintain excellent relations with all our regulators. We cooperate with any regulatory inquiries (including any examinations or investigations) in a manner that is transparent and consistent with global best practices,” the fund house said,...
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