Wealth Manager - the site for professional investment managers

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 Comment
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.
Citywire TV
Brewin's Gutteridge: the opportunities in UK challenger banks

Brewin's Gutteridge: the opportunities in UK challenger banks

In this week's podcast, Brewin Dolphin's Ben Gutteridge and Guy Foster, discuss opportunities in the global financials sector with Aptus' Johnny De La Hey.

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Your Business: Cover Star Club

Profile: how Close Brothers gave power back to the regions

Profile: how Close Brothers gave power back to the regions

Almost a year into the role, Close Brothers Asset Management head of wealth management Andy Cumming has highlighted three keys areas of focus

Wealth Manager on Twitter