Fact sheet: Invesco Perpetual Select UK Equity IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK GROWTH
Sector
IT UK All Companies
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Invesco Perpetual Select UK Equity IT

Rated Fund 2014-2017. A new manager with a similar approach

Invesco Perpetual Select UK is one part of the Invesco Perpetual Select Trust. We think it is interesting because it provides shareholders with a choice of investment strategies so they can change their asset allocation to meet their own requirements. The other strategies are Global Equity Income, Balanced Risk and Managed Liquidity.

They each operate as standalone companies but their structure means that investors can switch between the four portfolios at quarterly intervals to get exposure to the other asset classes without triggering a disposal for capital gains tax purposes. The UK Equity portfolio is managed by James Goldstone.

Goldstone took over from Mark Barnett in October 2016. However, he has worked alongside Barnett for the past four years and is deputy manager to Barnett on Edinburgh investment trust.

Interviewed after taking over from Barnett, he explained that they have a similar philosophy. They are both very valuation focused, take a long-term view in their investment process and regard dividends as a key measure of a company management's discipline.

Despite these similarities, however, he said that they currently run very different portfolios, potentially the result of a slightly different macroeconomic view. They are both bottom-up investors but pay heed to the wider macroeconomic picture.

Their slightly differing views on the outlook for inflation and interest rates may account for some of the differences in the structure of their portfolios. Like Barnett, however, Goldstone seeks companies with visibility of revenues, profits and cash flows.

3 Year Performance
Fund Performance31.6%
Average of Rated Funds Group51.8%
Sector Performance28.1%
Fund information
Fund name
Invesco Perpetual Select UK Equity plc
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund managers
  • James Goldstonesince 03/10/2016
Accolades
Highly Commended - Best UK Equity Trust
Fund objective
The investment objective of the UK Equity Share Portfolio is to provide Shareholders with an attractive real long-term total return by investing primarily in quoted UK equities.
Benchmark
  • FTSE All Share
Investment style
Growth
Investment method
No data available.
Quick stats
1 Year return
14.7%
1 Year rank in sector
9/15
Sector
IT UK All Companies
Yield
3.4%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.82%
Fund size
£68m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
71
Mid price
184.25
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
186.37
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-1.14
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
116
Top in this sector
Fund name1 Year
Manchester & London IT plc60.9%
Henderson Opps Tst36.8%
Mrtl IT PLC30.7%
Schroder UK Mid Cap30.1%
Artemis Alpha Tst plc30.1%
...more in IT UK All Companies

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.7%3.3%-1.4%14.7%31.6%100.8%
Sector-1.2%1.6%0.4%18.2%28.1%73.7%
Rank within sector6 / 157 / 159 / 159 / 156 / 146 / 13
Quartile2nd2nd3rd3rd2nd2nd
Calendar performance
 YTD - 20172016201520142013
Fund10.4%3.6%16%10.5%35.1%
Sector13.8%3.8%9.1%-1.7%31.3%
Rank within sector8 / 156 / 154 / 141 / 138 / 13
Quartile3rd2nd2nd1st3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
3.33
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.81
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.75
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
10.19
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
7.12
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.19
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.55
Price movement
52 week high193.5
52 week low166
Current bid price181.5
Current offer price187
Current mid price184.25
Region
1UK100%
Industry sector
1Financials34.3%
2Consumer Services17.2%
3Industrials15%
4Consumer Goods12.5%
5Health Care6.9%
6Oil & Gas6.6%
7Telecommunications2.4%
8Technology2.1%
9Basic Materials2%
Asset type
1UK Equities100%
Individual holdings
1BARCLAYS PLC4.5%
2BP PLC4.1%
3BRITISH AMERICAN TOBACCO PLC3.3%
4LLOYDS BANKING GROUP PLC3.2%
5NEXT3.2%
6AVIVA PLC3%
7LEGAL & GENERAL GROUP PLC2.9%
8SHIRE PLC2.8%
9RELX NV2.6%
Management
Fund manager group
Invesco Perpetual
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund objective
The investment objective of the UK Equity Share Portfolio is to provide Shareholders with an attractive real long-term total return by investing primarily in quoted UK equities.
Benchmark
  • FTSE All Share
Investment style
Growth
Investment method
No data available.
Fund managers
NameSinceBiography
James Goldstone03/10/2016James is responsible for the management of a number of UK equity portfolios. Prior to joining Invesco Perpetual in August 2012, James was co-head of pan-European sales at Banco Espirito Santo in London. James began his career in equity sales at Credit Lyonnais in 2001 and went on, via HSBC and Dresdner Kleinwort, to specialise in UK equity sales.James graduated with a BA in French from Manchester University.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Invesco Perpetual Select UK Equity plc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price186.71
CurrencyGBX
Price updated22/11/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNLJJ
Invesco Perpetual Select UK Equity plc NFV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price186.37
CurrencyGBX
Price updated22/11/2017
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBM3
Invesco Perpetual Select UK Equity plc NPV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price186.37
CurrencyGBX
Price updated22/11/2017
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBM4
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.