Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Mark Barnett's Invesco Perpetual High Income fund to switch sectors

1
Mark Barnett's Invesco Perpetual High Income fund to switch sectors

Mark Barnett’s High Income fund will move from the IMA Equity Income sector into the IMA UK All Companies sector on 31 March, Invesco Perpetual has confirmed.

The group has also advised that it is likely to move the Income fund and the Strategic Income fund into the UK All Companies later this year too.

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.’

Citywire AAA-rated Barnett officially took over the firm's income franchise earlier this month, replacing Neil Woodford who is setting up a boutique for Oakley Capital.

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.

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

Related Fund Managers

Mark Barnett
Mark Barnett
6/73 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 58.82%
Neil Woodford
Neil Woodford
24/73 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 46.52%
Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter