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Mark Dampier appointed non-executive director of Invesco Income Growth Trust

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The board of Invesco Income Growth Trust has appointed Mark Dampier as a non-executive director of the company. The appointment will be effective from 1 March 2016.

Dampier has over 30 years’ experience in financial services and is currently head of investment research at Hargreaves Lansdown. He is also a director of Hargreaves Lansdown Asset Management LTD and a member of Hargreaves Lansdown PLC’s Executive Management Committee.
 
Hugh Twiss, Chairman of Invesco Income Growth Trust, says: “The Board is delighted to welcome Mark Dampier as a director of the Company. Mark brings with him a wealth of experience and wide knowledge of the investment trust world. In addition, his practical involvement, through Hargreaves Lansdown, in the huge growth of unadvised investors over recent years will greatly assist the Board in meeting its objective of making Invesco Income Growth Trust plc as appealing and accessible as possible. My fellow directors and I look forward to working with Mark.”
 
Dampier says: “I very much look forward to joining the Board of Invesco Income Growth Trust plc. Equity income is a favourite sector of mine and, given ageing demographics of the UK, will have an increasingly important role to play. Having been an investment trust adviser, supporter and investor for 33 years, I am delighted to have the opportunity to work with the portfolio manager Ciaran Mallon and the Board of Invesco Income Growth Trust plc.”
 
The Invesco Income Growth Trust plc aims to produce income and capital growth superior to that of the UK stock market and dividends paid quarterly that, over time, grow at above the rate of inflation. Managed by Ciaran Mallon since July 2005, the investment trust has delivered strong long-term growth. Over five years as at 31 December 2015 the investment trust has delivered a NAV total return of 76.5%, compared to a total return of 33.8% from the FTSE All-Share Index*, the company’s benchmark, and grown its dividend by 14.12%**.
 
Mallon says: “I manage Invesco Income Growth Trust plc in a carefully considered manner with the intention of holding a portfolio of companies with strong fundamentals, with sensible management whose interests are aligned with shareholders’ and with low-risk balance sheets; the aim is to provide shareholders with both capital and dividend growth. Weakening demand from China and the political backdrop have been headwinds in the short term but valuations are now more attractive in my view than they were nine months ago and I remain confident in the longer term return potential of the holdings in the Company’s portfolio”.

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