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View the article online at http://citywire.co.uk/wealth-manager/article/a756262

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

by David Campbell on Jun 11, 2014 at 11:50

While the fund has done very well out of the recovery in the European banking system, he added that remained much more sceptical about the current craze for contingent convertible (Coco) issuance.

‘You have to remember that these are deeply subordinated and in the event of any difficulty, they will be absorbing capital losses. It’s not like old-style subordinated debt there’s no pussyfooting around.’

Over the last three years the Invesco Perpetual Corporate Bond fund has returned 24.9% versus a peer group average of 21.29% while the Invesco Perpetual High Yield fund has returned 42.28% versus an average of 26.99%.

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