Invesco Perpetual has been appointed to manage a diversified growth (multi asset) mandate for The Pensions Trust. The GBP101 million mandate is to be invested into the Invesco Perpetual Global Targeted Returns Fund.
Launched in 2013, the Invesco Perpetual Global Targeted Returns Fund is managed by fund managers Richard Batty and Dave Jubb, and David Millar, Head of Multi Asset. It dispenses with asset class labels and instead focuses on a three step approach which starts with selecting and approving investment ideas from across asset classes and geographies, combining these ideas into a single portfolio using a robust risk-based fund management framework, and then implementing these investment ideas through Invesco’s global trading desks.
The fund aims to achieve a positive total return in all market conditions over a rolling three-year period. The fund targets a gross return of 5 per cent per annum above UK three-month LIBOR (or an equivalent reference rate) and aims to achieve this with less than half the volatility of global equities, over the same rolling three-year period. There is no guarantee that the fund will achieve a positive return or its target and investor may not get back the full amount invested.
Hugh Ferrand (pictured), Head of UK Institutional Division, Invesco Perpetual, says: “I’m very pleased to welcome The Pensions Trust as a client. The Invesco Perpetual Global Targeted Returns Fund allows broad diversification within a single investment product and our team brings together a blend of actuarial, economic, fixed interest, risk management and multi asset skills. We believe that this combination means the fund can play a valuable role in The Pensions Trust’s long-term portfolio.”
David Adkins, Chief Investment Officer, The Pensions Trust comments: “The Invesco Perpetual multi-asset team’s investment credentials and track record speak for themselves, and the Global Targeted Returns Fund‘s strategy, which seeks to provide positive returns with a low level of volatility, suits our investment goals perfectly.”