Paul Causer

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Glossary

  • Fund

    A way for individual investors to pool their money together, allowing them to invest in assets that would otherwise be unobtainable

  • Fund manager

    The person who decides where the fund's money should be invested. As such, finding a talented manager (such as those with a Citywire rating) is of paramount importance

  • Sector

    Funds are grouped together into sectors, allowing fund managers to be judged against their benchmarks and peer group. Each sector has rules about what assets funds are allowed to invest in

  • Assets

    A generic term meaning 'what you own'. If you can buy it, it's an asset. In the world of investments the most common assets are shares, bonds, property and cash.

  • Asset class

    A group of assets with similar properties. For example, while shares will rise or fall in price individually, economic factors can affect all shares similarly. The same economic factors might affect bonds very differently – so shares and bonds are separate asset classes.

  • Asset allocation

    The process of deciding which asset classes to invest in. Successful asset allocation is often more important than selecting individual assets (for example deciding whether to invest mainly in shares, rather than which shares to invest in). Since most fund managers are tied to their sector rules, you need to either do your own asset allocation or buy a managed fund.

  • Benchmark

    A measure of how different areas of the markets are performing, against which funds can be compared. For example, a fund in the UK All Companies sector might be compared against the FTSE All-Share index of every company traded on the London Stock Exchange. A good fund manager will be able to beat the benchmark most of the time, but very few can.

  • Securities

    A contract representing something of financial value. Shares and bonds are the most common types of securities.

  • Managed funds

    Unlike most funds, which are restricted to investing in particular markets by the rules of their sector, managed funds can invest in just about anything. While they can have subtly different objectives, they are split into 'Active Managed', where the manager is given free reign; 'Balanced Managed', where the manager can invest a maximum of 85% in shares to reduce risk; and 'Cautious Managed' with a 60% maximum in shares.

  • Shares

    A share in a company represents part ownership of its assets (e.g. its buildings, intellectual property and so on) and its future income (paid out as dividends). The value of a share depends largely on other investors' expectations of the company's future growth and income.

  • Bonds

    Companies can issue bonds as a way of raising money. When you buy a bond, the company is agreeing to pay you a fixed income (hence the alternative name 'fixed income securities') for a certain time period, after which your money is repaid. If investors suspect a company may be unable to repay, they will demand a higher income or 'yield' - hence 'high yield bonds'.

  • Risk

    The possibility that your investment objectives won't be met. The most obvious variety is 'capital risk' – the possibility that you won't get your money back – but there are many other forms such as currency risk, income risk, inflation risk (that your investments won't keep pace with the cost of living) and so on. To get better returns, you must accept more risk – this is a law of physics in investing, no matter what the people who advertise funds like to claim. Understanding your own risk tolerance is crucial.

  • Return

    A measure of how your investments have performed, relative to your initial investment. For example if you invest £1,000 in a fund, and a year later your investment is worth £1,100, you've made a 10% return.

  • Maximum loss

    Otherwise known as maximum 'drawdown', this is a measure of how much you would lose if you bought an investment at its most expensive and sold at its cheapest (which, owing to the frailties of human psychology, often happens). For example if a fund was worth £1 a unit at one point but then fell to 50p – regardless of what happened in the meantime – the fund's loss would be 50%. Comparing the maximum loss for different managers over a given period is a good way of seeing who's doing the best job of safeguarding investors' money.

Please see terms and conditions for restrictions on use of Citywire's Fund Manager database.

Paul Causer

Paul Causer

  • Currently running 9 funds
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  • Current rating:
    Citywire Plus

Paul Causer has clocked up more than 20 years' fund management experience. He started out as a research and credit analyst with Japanese bank Asahi Bank and moved on to the group's treasury department before he was given responsibility for the bank's multi-currency investment portfolio. Along with his co-manager Paul Read, Causer signed a new contract with Invesco Perpetual in 2002 after turning down an approach from New Star. The 'two Ps' also co-manage the Invesco Global Bond fund, and the Invesco Leveraged High Yield investment trust. In January 2004 they began co-managing the newly launched Invesco Perpetual Distribution fund alongside colleague Neil Woodford.

Fund Groups

Invesco Perpetual

St James's Place

Invesco Asset Management (Germany)

Total returns in each sector over

  • Bonds - Sterling Corporate Bond

    27%Average manager 22.6%

    Bonds - Sterling Corporate Bond

    View performance chart

    27%
  • Bonds - Sterling Strategic Bond

    26.7%Average manager 22.4%

    Bonds - Sterling Strategic Bond

    View performance chart

    26.7%

Paul Causer also manages these funds

Fund Manager's Citywire Ratings History

  • Rated AA in Jan 2004
  • Rated A in Feb 2004
  • Rated A in Mar 2004
  • Rated A in Apr 2004
  • Rated A in May 2004
  • Rated A in Jun 2004
  • Rated A in Jul 2004
  • Rated A in Aug 2004
  • Rated A in Sep 2004
  • Rated AA in Oct 2004
  • Rated AA in Nov 2004
  • Rated A in Dec 2004
  • Rated AA in Jan 20052005
  • Rated A in Feb 2005
  • Rated AA in Mar 2005
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  • Rated AAA in Jan 20062006
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  • Rated AA in Jan 20072007
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  • Rated A in Jan 20082008
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  • Rated Plus in Sep 2013
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  • Rated Plus in Jan 20142014
  • Rated Plus in Feb 2014
  • Rated Plus in Mar 2014
  • Rated Plus in Apr 2014
Learn how Citywire Ratings are calculated

News about: Paul Causer

How has Paul Causer performed over

Fund Manager's Citywire Ratings History

  • Rated AA in Jan 2004
  • Rated A in Feb 2004
  • Rated A in Mar 2004
  • Rated A in Apr 2004
  • Rated A in May 2004
  • Rated A in Jun 2004
  • Rated A in Jul 2004
  • Rated A in Aug 2004
  • Rated A in Sep 2004
  • Rated AA in Oct 2004
  • Rated AA in Nov 2004
  • Rated A in Dec 2004
  • Rated AA in Jan 20052005
  • Rated A in Feb 2005
  • Rated AA in Mar 2005
  • Rated AA in Apr 2005
  • Rated AA in May 2005
  • Rated AA in Jun 2005
  • Rated AAA in Jul 2005
  • Rated AAA in Aug 2005
  • Rated AAA in Sep 2005
  • Rated AAA in Oct 2005
  • Rated AAA in Nov 2005
  • Rated AAA in Dec 2005
  • Rated AAA in Jan 20062006
  • Rated AAA in Feb 2006
  • Rated AAA in Mar 2006
  • Rated AAA in Apr 2006
  • Rated AAA in May 2006
  • Rated AAA in Jun 2006
  • Rated AA in Jul 2006
  • Rated AA in Aug 2006
  • Rated AA in Sep 2006
  • Rated AA in Oct 2006
  • Rated AA in Nov 2006
  • Rated AA in Dec 2006
  • Rated AA in Jan 20072007
  • Rated AA in Feb 2007
  • Rated AA in Mar 2007
  • Rated AA in Apr 2007
  • Rated AA in May 2007
  • Rated AA in Jun 2007
  • Rated AA in Jul 2007
  • Rated A in Aug 2007
  • Rated AA in Sep 2007
  • Rated AA in Oct 2007
  • Rated AA in Nov 2007
  • Rated AA in Dec 2007
  • Rated A in Jan 20082008
  • Rated A in Feb 2008
  • Not rated in Mar 2008
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  • Rated A in May 2010
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  • Rated Plus in Sep 2013
  • Rated A in Oct 2013
  • Rated Plus in Nov 2013
  • Rated Plus in Dec 2013
  • Rated Plus in Jan 20142014
  • Rated Plus in Feb 2014
  • Rated Plus in Mar 2014
  • Rated Plus in Apr 2014
Learn how Citywire Ratings are calculated
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