Invesco Perpetual launches first multi-asset strategy

Invesco Perpetual has announced the launch of the Invesco Perpetual Global Targeted Returns Fund, the first to be managed by its newly formed Multi Asset investment team based in Henley-on-Thames.

The fund, which aims to achieve a positive total return, through capital growth and income, in all market conditions over a rolling three year period, is the next step by Invesco Perpetual in its aim to build a franchise in multi asset investing to meet the needs of advisers and their clients, the firm said.

The new strategy has been created by the highly experienced team brought into the business earlier this year. Led by David Millar, along with fund managers Dave Jubb and Richard Batty, the team takes an unconstrained, conviction-led approach to multi asset investing, consistent with the approach taken by Henley-based fund managers across equities and fixed income, and using Invesco Perpetual’s highly experienced investment capability.

The new Invesco Perpetual Global Targeted Returns Fund dispenses with asset class labels and instead focuses on a robust 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 risk-based fund management framework, and then implementing these investment ideas through Invesco Perpetual’s global trading desks.

The fund targets a gross return of 5% per annum above UK 3 month LIBOR (or an equivalent reference rate) on a rolling three year basis and aims to achieve this with less than half the volatility of global equities, over the same rolling three year period.

Alongside the fund managers, two further investment specialists have joined the team – Georgina Taylor, product director and Gwilym Satchell, risk manager- each bringing with them considerable expertise and a proven capability to support a multi asset investment approach.

Nick Mustoe, chief investment officer at Invesco Perpetual, said: “As investors in the UK seek to grow their money without taking excessive levels of risk there has been consistent demand for multi asset investing, but there are very few managers doing it well. At Invesco Perpetual we have waited to find the right people, with the ability to create a market leading product in response to this demand. Building a leading multi asset capability is central to our vision for the Invesco Perpetual Business.”

Ian Trevers, head of distribution at Invesco Perpetual, said: “A recurring theme in our conversations with clients has been the challenges they face in constructing portfolios that not only combine diversification with the control of volatility, but also the need to deliver returns. These talented managers have a proven track record and capability in building risk-managed portfolios that deliver for clients.

“The fund will appeal to a broad range of investors; it could fit into an existing portfolio, where its broad diversification can dampen risk elsewhere, or form the core holding in a new one.

David Millar, head of multi asset investment at Invesco Perpetual, said: “As a team we believe that the way to achieve true diversification is to break away from the constraint of asset class labels and bring good investment ideas, which cross asset classes and geographies, together into a single diversified portfolio. This strategy, combined with the fact that we can draw on the immense intellectual capital of Invesco Perpetual gives us the ability to create something market leading.”

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