Parks, who is also head of Asian equities, is stepping aside to allow Lam sole control of the £949m fund from 1 May.
The group said the decision was in recognition of Lam’s experience running Asian portfolios and the “valuable contribution” he has made to date.
He has been a fund manager in the Asian equities team at Invesco Perpetual since 2006 and has co-managed the fund since 2015, working alongside Parks.
Parks said: “William is an experienced and talented fund manager who has made a significant contribution to the success of our Asian equities franchise.
“The decision for William to become the sole manager of the Asian fund is the natural next step in his career progression and is in recognition of the important role he has played in delivering outperformance for our clients and helping grow the assets of the franchise overall.”
Lam has managed pan-Asian portfolios at Invesco Perpetual since 2009 including the Asia Pacific ex-Japan portion of the Invesco Perpetual Pacific Fund and the Invesco Pacific Equity Fund since 2010.
He takes on the management of Invesco Perpetual Asian Fund after it reported an impressive performance in the first three months of 2017, returning 14.97% and making it one of the top 10 best-performing equity funds year to date, according to FE.
The IA Asia Pacific excluding Japan sector was up 11.6% in the same period.
