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Mark Barnett goes back to basics after 'frustrating' run

Invesco Perpetual Income and High Income manager says he has re-examined some of his major holdings after heavy share price falls.

Mark Barnett, manager of the £10.5 billion Invesco Perpetual High Income and £5.2 billion Invesco Perpetual Income funds, has suffered a difficult 18 months, hurt by heavy share price falls from a number of major holdings like Provident Financial (PFG), Capita (CPI), BT (BT) and Allied Minds (ALML).

In a video interview in the Citywire studio, Barnett said his run of poor performance had been ‘very frustrating’ and admitted he could have better anticipated the impact of political uncertainty on some of his stocks.

‘Every year there are stocks that don’t work out in the way you’d anticipated. In the last year I’ve had too many of those,’ he said.

But he insisted that after re-examining stocks like Provident Financial and BT after their poor performance, he was convinced his original investment rationale was still intact.

 

 

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88/91 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 1.63%
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