Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a565329

Invesco Perpetual ditch hedge manager on Select trust

by Danielle Levy on Feb 13, 2012 at 07:33

Shareholders in the Invesco Perpetual Select Trust have decided to ditch Fauchier Partners in favour of Invesco manager Scott Wolle to run the hedge portion of the multi-asset trust.

Fauchier Partners has underperformed with the hedge fund portfolio, known as Balanced Risk , posting a 13.5% loss over the past 12 months and a 9.35% loss in NAV terms, while the FTSE World was down 0.8%.

This led shareholders to vote in favour of replacing Fauchier as manager of the hedge portfolio in favour of Wolle, who is CIO of Invesco's Atlanta-based global asset allocation team. The trust is currently trading on a 13% discount to net asset value.

The trust, which enables shareholders to tailor their asset allocation to reflect their market views by having the opportunity to convert between share classes every quarter. Alongside hedge fund of funds, investors can gain access to cash-plus strategy, UK equities and global equities strategies.

New manager Wolle will adopt a risk parity strategy in the porfolio, replicating the strategy he uses for the Invesco Balanced Risk fund, which has posted an annualised return of 13.8% since the fund was launched in June 2009.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the investment trusts

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet