Invesco Perpetual Income and High Income rated Elite

Morningstar has issued four new qualitative fund ratings, including an Elite rating for the UK-domiciled Invesco Perpetual Income Inc and Invesco Perpetual High Inc funds.

Morningstar fund analyst Chetan Modi comments: "In our view, Invesco Perpetual Income and Invesco Perpetual High Income are two of the best UK equity funds around. Manager Neil Woodford is highly experienced and willing to back his judgement with sizeable bets. That said, he has some £22bn in assets under his management, which limits his ability to make nimble moves in less-liquid stocks.  His contrarian approach, however, alleviates our concern. Both funds earn Morningstar's highest rating of Elite."

Offshore fund BlackRock Global Funds - Euro Bond A1 Eur receives a Superior rating - Morningstar's second-highest qualitative rating.

Fund analyst Alex Prineas comments: "We think BlackRock Euro Bond does what a bond fund should do, and well. Fund manager Michael Krautzberger is backed by BlackRock's large and well-resourced fixed income team, and he's used to working in big organisations, having managed bond funds at DWS and Union Investment. We also like the process which combines government bonds with corporate bonds, and it has delivered returns above the category average since Krautzberger's appointment in 2005. The fund earns our Superior rating."