UPDATE 1-Edinburgh Investment Trust fires Invesco's Mark Barnett as manager

* Follows period of underperformance

* Shares in the trust up 1.2% year to date, lag FTSE
mid-caps

* Invesco says no plans to change investment style
(Adds Invesco response, background)

By Carolyn Cohn and Simon Jessop

LONDON, Dec 11 (Reuters) - Edinburgh Investment Trust
, which said it has suffered from a prolonged period of
underperformance, has replaced Invesco's Mark Barnett as
its investment manager.

The London-listed trust, which has a market capitalisation
of 1.1 billion pounds ($1.41 billion), said on Wednesday it had
appointed Majedie Asset Management as its new manager, with
James de Uphaugh as the portfolio manager.

Barnett, head of UK equities at Invesco, worked with veteran
fund manager Neil Woodford at Invesco before Woodford left to
set up his own now-closed firm, and has come under pressure this
year.

"I am disappointed by another weak result for the company in
today's interim results, extending the period of
underperformance to beyond three years," trust chairman Glen
Suarez said.

The trust posted a 3.1% fall in net asset value in the six
months to Sept. 30. Its shares were up 0.3% at 606 pence at 0930
GMT, compared with a 0.5% fall in the FTSE 250 index.

In the year to date, shares in the trust are up 1.2%,
lagging an 18% gain in the FTSE 250.

Invesco said in a statement that it was "disappointed", but
had no plans to change the way it invested.

"We remain of the conviction that our investment strategy is
sound...We believe there will be a revision of current market
consensus and that we are on the cusp of this potential being
realised."

Invesco last month appointed long-serving Invesco fund
manager Martin Walker to act as co-head of UK equities alongside
Barnett. The move followed a year of heavy outflows from funds
managed by Barnett as well as by the broader group.

Barnett's UK Strategic Income, High Income and Income funds
saw combined outflows of just over 2 billion pounds in the 12
months to Sept. 30, data from industry tracker Morningstar
showed.
($1 = 0.7794 pounds)
(Reporting by Carolyn Cohn and Simon Jessp, editing by Mike
Harrison)