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Invesco cuts fees on Barnett and Mustoe’s trust

Invesco cuts fees on Barnett and Mustoe’s trust

Invesco has cut the charges on its closed-ended fund of funds.

The Invesco Perpetual Select Trust is an umbrella structure for four discrete strategies, including a UK equity portfolio managed by Citywire AA-rated Mark Barnett (pictured) and a global equity sleeve run by chief investment officer Nick Mustoe.

The firm has lowered the basic management fees from 0.75% to 0.65% on both mandates and brought down the maximum performance fee payable on both portfolios from 0.75% to 0.65%.

No changes have been made to the fees of the other two elements of the trust: a money-market portfolio under AA-rated Stuart Edwards and a multi-asset segment headed by Scott Wolle.

James Carthew, director of Marten & Co, has argued the trust's structure comes into its own if 'investors fear triggering capital gains tax but want to be able to switch between asset classes, to match changes in their risk appetite or to time markets’.

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Scott E. Wolle
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110/132 in Mixed Assets - Balanced (Performance over 3 years) Average Total Return: 21.56%
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36/65 in Bonds - Global (Performance over 3 years) Average Total Return: 9.74%
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15/76 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 71.17%
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19/46 in Equity - Global Equity Income (Performance over 1 year) Average Total Return: 8.46%
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