The pair managed the €150 million Invesco Global Equity Income, a Luxembourg-domiciled which they had been running since its launch in mid 2010.
Invesco said the changes take place with immediate effect on Boyne and McGraw’s decision to leave for another company based in North America.
In running the fund, Mustoe will keep in place the same investment strategy and will be supported by the Global Equity Group.
Mustoe said in a statement: ‘We are committed to our global equity income franchise in which we have invested significant resource over the last four years and we look forward to building on these foundations in 2013 and beyond.’
Over the past year till the end of November the fund has returned 21.8% while its Citywire benchmark, FTSE World TR, has risen 18.1% in euro terms.