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Invesco Perpetual launches global multi-asset income fund

Invesco Perpetual launches global multi-asset income fund

Invesco Perpetual has launched a global targeted income fund for its multi-asset team, headed by David Millar (pictured).

The Invesco Perpetual Global Targeted Income fund will target a gross income of 3.5% per annum above UK 3 month Libor while keeping volatility to less than half that of global equities over a three year rolling period.

This fund will be jointly managed by Richard Batty, Sebastian Mackay and Gwilym Satchell.

It employs a similar process to that employed on the £7.3 billion Invesco Perpetual Global Targeted Returns fund - also run by the trio - which has returned 11.6% in the three years to the end of October versus an average of 6.3% in the peer group.  

Like the existing fund, the new Global Targeted Income fund will typically invest in 20-30 investment ideas with a time horizon of two to three years. 

In terms of costs, the new strategy will have a ongoing charge of 0.82%, 0.87% or 1.07% depending on the share class chosen (these are fixed fees but exclude transaction costs).

Launched for the Investment Association Targeted Absolute Return Sector, the fund has a minimum investment of £500.

'In today’s low yield environment, multi asset investing helps investors spread the overall risk taken while providing the opportunity for more stable returns compared to investing in just one asset class,' said Millar.

'Given Invesco Perpetual’s long and established track record of income investing, alongside the success of its multi asset investment approach, the Global Targeted Income fund seeks to help those clients looking for predictable monthly income, relatively low volatility and a focus on capital preservation.'

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