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Mark Barnett's Invesco Perpetual High Income fund to switch sectors
by Robert St George on Mar 28, 2014 at 12:50
Invesco Perpetual explained that the switches were due to the constraints around the three-year yield requirement used as a qualifier for the IMA Equity Income sector.
‘We believe that the interests of clients in these particular funds are best served by us continuing to focus on providing a growing level of income, balanced with the opportunity for capital growth over the long term,’ commented Ian Trevers, head of UK retail at Invesco Perpetual.
‘We are comfortable that these three funds will have a different IMA classification. Our clients and their advisers can be confident that this sector change will not impact the way their investments are managed.’
The High Income fund has returned 52.3% over the last three years versus a 34% rise in the benchmark.
Barnett built his reputation on the Invesco Perpetual UK Strategic fund, which has returned 64.6% over the last three years.
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