Invesco Perpetual launches Global Equity Income Fund

Invesco Perpetual announces the launch of a new fund, the Invesco Perpetual Global Equity Income Fund which brings together the best regional investment ideas from Invesco Perpetual's team of highly experienced fund managers.

The fund will be managed by Paul Boyne, who joined the group in September 2008, and will capture the collective investment ideas from the Henley UK, European, US, Asian, Japanese and Emerging Market equity investment teams in one (open-ended) fund.

Bob Yerbury, CIO of Invesco Perpetual commented: "Global equities is an important and growing area for us and the launch of this fund is part of a long-term initiative, led by Nick Hamilton, Head of International Products, aimed at offering investors increased access to the team's global equity income expertise."

He continued: "Our research amongst financial advisers has revealed a gap in this market in the UK and they believe that Invesco Perpetual has the capability for such a ‘best in class' investment process. Paul Boyne, will take full advantage of the specialist knowledge and proven investment expertise of the Henley investment team to construct a single global equity income portfolio. Given the response to our research, we believe it is the right time to launch now, despite current market conditions. It is all about long term positioning."

Commenting on prospects for the fund, Paul Boyne said: "Dividend yields are at multi year highs and whilst there are question marks over sustainability of some of these yields, we believe there is a wealth of opportunity available to us.

"Our strategy will be to gain more focused exposure to high quality businesses at attractive prices and then hold them with a view to generating total returns over the long term and managing risk according to market conditions."

The Global Equity Income Fund aims to achieve a rising level of income, together with capital growth, and will typically have 75 stocks in the portfolio, with a range of 60 to 100 holdings.

It will be high-conviction in nature, unrestricted by geography, sector or market cap and the active, unconstrained and long term approach will allow the fund manager to look for the right investment opportunities to deliver returns, whatever the market conditions.

The initial offer period for the Global Equity Income Fund is 30th January to 27th February. On 27th February the Invesco Perpetual International Growth Fund will be merged into the Global Equity Income Fund (subject to shareholder approval).

As part of this long term initiative, the Invesco Perpetual Global Dynamic Theme Fund mandate will change along with its name to the Invesco Perpetual Global Opportunities Fund. This change is expected to take place on the 27 February (subject to shareholder approval).

The Global Opportunities Fund, to be managed by Paul Boyne, will reflect the underlying team's highest investment convictions and will hold typically 50 stocks, with a range of 40 to 60 holdings. The focus will be on providing long-term capital growth.

As part of this initiative the group will also be renaming the following funds to more accurately reflect their investment structure:

Invesco Perpetual World Growth Portfolio to Invesco Perpetual Managed Growth Fund

Invesco Perpetual World Income Fund to Invesco Managed Income Fund.

These name changes will take place end April 2009.