Invesco Perpetual has expanded its multi-asset offering with the launch of the Invesco Perpetual Global Targeted Income Fund.
The fund will aim to deliver a gross income of 3.5 per cent per annum above UK 3-month LIBOR (before the deduction of corporation tax), whilst aiming to preserve capital in all market conditions over a rolling three year period.
In addition, the fund will aim to keep volatility to less than half that of global equities over the same rolling three year period.
Under the leadership of David Millar, the fund will be managed jointly by Richard Batty, Sebastian Mackay and Gwilym Satchell, who will be supported by the other seven members of the Invesco Perpetual multi asset team.
The team will use a similar investment process to the existing Invesco Perpetual Global Targeted Returns Fund, and will aim to search for good investment ideas unconstrained by asset class and geography.
The Global Targeted Income Fund will typically invest in between 20 and 30 ‘investment ideas’ at any one time, with a time horizon of two to three years. This gives the fund managers the freedom to put together a diversified portfolio which provides exposure to the upside in financial markets, whilst seeking sustainable income.
David Millar (pictured), head of multi asset investment at Invesco Perpetual, says: “Conversations with our clients have highlighted a clear and growing need for sustainable income due to a challenging macro-economic climate and an ever-lengthening retirement period. 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.
“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.”