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Invesco Perpetual Distribution

Ranked 102 out of 122 in - Flexible GBP over 12 months
All calculations are in GBP unless stated

Managed by

Paul Causer

Based in Henley-on-Thames, Paul Causer co-leads Invesco Perpetual’s Fixed Interest team with Paul Read, managing a number of government, corporate and non- investment grade portfolios. Paul began his investment career in 1983 in research and credit analysis with Asahi Bank, the large Japanese commercial bank. He then moved to the bank's treasury department and traded securities and derivative instruments until 1990 when he was given responsibility for managing the bank's multi-currency investment portfolio before joining Invesco Perpetual in 1994. Paul holds a BSc in Economics from the London School of Economics.

Ciaran Mallon

Based in Henley-on-Thames, Ciaran Mallon is responsible for the management of a number of UK equity portfolios at Invesco Perpetual. Ciaran began his investment career in 1994, joining HSBC where he was as an investment analyst before moving to United Friendly Asset Management (UFAM) in 1999 as a fund manager and joining Invesco Perpetual in 2005.He holds an MA in Chemistry from Oxford University, the Securities Institute Diploma and is a CFA Charterholder.

Paul Read

Based in Henley-on-Thames, Paul Read co-leads Invesco Perpetual’s Fixed Interest team with Paul Causer, managing a number of government, corporate and non- investment grade portfolios across the maturity spectrum. Paul began his investment career with UBS (Securities) Ltd in 1986, and then moved to Merrill Lynch International in 1988. Paul initially worked on the bond sales desk, covering institutional investment managers at Merrill Lynch, before moving on to debt trading and working as a director of fixed interest trading in Tokyo from 1991 and in Paris from 1993 before joining Invesco Perpetual in 1995. He holds a BA in Economics and History from the University of Toronto and also has an MBA from INSEAD.


The Fund aims to achieve a combination of income and capital growth over the medium to long term. The Fund seeks to achieve its objective by investing primarily in corporate and government debt securities globally (which may be unrated or sub-investment grade) and equities. The Fund may also invest in cash, cash equivalents, money market instruments, collective investment schemes, currencies and other transferable securities.

Showing fund performance in United Kingdom View performance globally


Flexible GBP over : 30/09/2015 - 30/09/2016

Total Return

Quarterly Performance

to 30/09/2016 Annual Q1 Q2 Q3 Q4
2016 -0.5% 1.3% 4.6%
2015 1.1% 3.3% -1.9% -1.9% 1.7%
2014 4.7% 1.7% 1.8% -0.1% 1.2%
2013 14.1% 7.2% 0.8% 2.6% 2.9%
2012 19.7% 8.5% -0.3% 6.2% 4.2%
2011 1.4% 3.5% 1.6% -7.3% 4.1%
2010 11.4% 6.3% -3.2% 7.9% 0.3%
2009 32.8% -6.8% 17.7% 16.1% 4.3%
2008 -19.6% -6.5% 1.3% -6.3% -9.3%
2007 4.4% 1.5% 0.5% 0.7% 1.6%
2006 11.6% 2.9% 0.2% 5.0% 3.1%
2005 12.6% 1.4% 3.9% 3.5% 3.4%
2004 1.9% 3.1% 6.2%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
GBP Forward Contract 27.38
Future General Security 4.70
USD Cash 2.81
Imperial Brands PLC ORD 2.23
British American Tobacco PLC ORD 1.87
Bunzl PLC ORD 1.41
Reckitt Benckiser Group PLC ORD 1.37
National Grid PLC ORD 1.34
Croda International PLC ORD 1.32
Pennon Group PLC ORD 1.32

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date26/01/2004
  • Share Class size3,274Mn
  • Base currencyGBP
  • ISIN GB0033947226

Purchase Info

  • Min. initial investment500
  • Min. regular additional investment20


  • Initial investment5

Related News

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Invesco Perpetual launch Global Distribution fund for Causer & Read

The firm's co-fixed income heads Paul Causer and Paul Read will be supported by global equity manager Nick Mustoe as they look to replicate the success of their UK fund on a global stage.

Revealed: Woodford to launch Invesco income replica in May

Neil Woodford's new venture is readying an income fund launch for late May, Wealth Manager can reveal.

Woodford's income funds see £500m more outflows in October

Investors in Neil Woodford's Income and High Income funds redeemed over £500 million since the star manager announced his departure in mid-October.

Woodford to launch fund firm after quitting Invesco Perpetual

(Update) Neil Woodford is to leave Invesco Perpetual on 29 April to launch a fund firm, with Mark Barnett assuming his responsibilities.

Sponsored Video: Invesco Perpetual's Paul Read on Fixed Income

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Neil Woodford: No recovery within next three to four years

Invesco Perpetual's head of investment Neil Woodford says there are no green shoots for a recovery on the horizon, and there will not be for up to four years.


Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).