Invesco Perpetual has launched the Invesco Perpetual Global Distribution Fund, managed by co-heads of fixed interest Paul Causer and Paul Read and the global equity income group led by Nick Mustoe.
The fund will seek to provide a balance of income and capital growth through its investment in a portfolio of fixed income securities and global equities.
The mixed asset fund will combine Invesco Perpetual’s core strengths in fixed income and global equities. The fund will sit in the IMA Mixed Investment 20 per cent – 60 per cent shares sector.
Causer and Read, who have been managing funds together for 19 years and mixed asset funds for 15 years, will lead manage the fund and, in particular, manage the fixed interest component. Invesco Perpetual’s global equity income group will manage the equity component.
Causer and Read will also manage the weighting between bonds and equities. The flexibility to change the fund’s asset allocation weighting will allow the fund managers to react to market conditions and provide the opportunity to exploit value where they perceive it to be.
Ian Trevers, head of UK retail at Invesco Perpetual, says: “Low interest rates are driving demand for funds which offer genuine diversification and meet a need for income. Our Henley based fixed interest team have a proven ability in managing a successful range of mixed asset funds and this launch is the next step in the development of that range. The Global Distribution Fund provides access to global markets across the two largest asset classes within a single portfolio.”
Causer says: “A fund that can combine our bond ideas with an income-focused global equity strategy is attractive for us as fund managers. It gives us the ability to access income where it appears to be best value at different points in the cycle across a wide investment universe. It also enables us to position the fund for capital appreciation when we see the potential for that.”