Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Invesco Perpetual Monthly Income Plus

Ranked 22 out of 61 in - Sterling Strategic Bond over 12 months
All calculations are in GBP

Managed by

Paul Causer

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.

Ciaran Mallon

Ciaran Mallon studied at Oxford University where he obtained his degree in Chemistry. He is also a CFA charterholder, and has the Securities Institute Diploma. He started his career at HSBC Private Clients where he worked as an investment analyst. In 1999, he joined United Friendly Asset Management (acquired by Royal London Asset Management). Ciaran joined Invesco Perpetual in January 2005 and is part of the UK equities team managing UK equity portfolios. His investment style is pragmatic, active and valuation-orientated.

Paul Read

Although Paul Read cites Neil Woodford as the investor he admires most, he has tremendous respect for Paul Causer, the man with whom he has established a highly successful partnership during the past seven years at Invesco Perpetual. The pair head fixed interest retail investment at the group and jointly oversee billions of pounds in a diverse range of unit trusts, pension funds, offshore funds and investment trusts. Within this range is their key portfolio, the Invesco Perpetual Corporate Bond fund, which they have managed since July 1995. Born in November 1961, Read graduated in Economics and History from the University of Toronto.


The fund aims to achieve a high level of income with capital growth over the medium to long term. The Fund seeks to achieve its objective by investing primarily in corporate and government high yielding 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 and other transferable securities Financial derivative instruments can be used for investment purposes and for efficient portfolio management.


Sterling Strategic Bond over : 31/10/2014 - 31/10/2015

Total Return

Quarterly Performance

to 30/09/2015 Annual Q1 Q2 Q3 Q4
2015 3.4% -1.3% -1.6%
2014 5.2% 1.8% 2.1% 0.2% 1.0%
2013 11.0% 4.6% 0.5% 2.7% 2.8%
2012 21.9% 9.1% -0.2% 6.6% 5.1%
2011 -2.2% 3.7% 0.6% -8.7% 2.6%
2010 13.8% 7.9% -2.9% 7.9% 0.7%
2009 44.6% -5.3% 22.6% 17.8% 5.7%
2008 -21.8% -5.5% 1.5% -8.1% -11.4%
2007 2.7% 1.9% -0.3% 0.9% 0.1%
2006 10.9% 3.4% 0.5% 3.7% 2.9%
2005 10.9% 1.3% 3.2% 3.7% 2.4%
2004 16.4% 4.0% 1.4% 4.0% 6.2%
2003 33.8% 4.7% 15.6% 4.0% 6.3%
2002 -5.6% -2.6% -3.9% -4.9% 6.0%
2001 -0.7% 4.5% -1.2% -10.6% 7.6%
2000 6.2% 5.2% 1.7% -0.9% 0.1%
1999 3.2% 0.5% 3.9%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
GBP Forward Contract 30.79
Future General Security 5.41
United Kingdom 2.000% 22-Jan-2016 4.24
United Kingdom 4.000% 07-Sep-2016 2.59
US Treasury 0.375% 31-Jan-2016 2.42
US Treasury 0.375% 30-Apr-2016 2.25
Barclays Bk PERP 1.35
Lloyds Bank PLC PERP 1.31
GBP Cash 1.30
US Treasury 0.500% 31-Jul-2016 1.13

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date06/02/1999
  • Share Class size3,649Mn
  • Base currencyGBP
  • ISIN GB0033051334

Purchase Info

  • Min. initial investment500
  • Min. additional investment20


  • Initial investment5

Related News

Invesco Perpetual takes liquidity to 17% on bond fears says Read

‘We are not out here to beat a drum and say that this is a market that you have to be buying.’

Should strategic bond funds resist the lure of high yield?

Strategic bond managers have done well from high yield; should they now be locking in profits?

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.

How this wealth manager is navigating QE-driven bubbles

IBoss managing director Chris Metcalfe is cautious of asset prices fuelled by quantitative easing (QE). He favours underlying managers with a pragmatic and flexible approach, particularly in IBoss’s fixed income and UK and global equity exposure.

Why Woodford's head was turned by eight 'exciting' firms

Invesco Perpetual’s Neil Woodford is known for his big, defensive bets, but the manager also puts money to work in smaller start-ups.  Wealth Manager was given an insight into why they caught his eye.

Key study puts Woodford funds on ‘sell’ alert as assets soar

Neil Woodford’s High Income and Income funds have been placed on the ‘sell’ list of the latest Income Study, due to their extremely large sizes and concentrated, defensive stock positions.

Woodford sold troubled Yell publisher Hibu ahead of 90% profit slump

Neil Woodford has disposed of Yellow Pages publisher Hibu, revealing the move to his investors on the same day as the firm announced a 90% slump in pre-tax profits.

A spotlight on Whitechurch's private client performance

An entry into emerging market debt is on the cards for Whitechurch Securities.


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