Fact sheet: Invesco Perpetual Select Global Equity Income 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.
GLOBAL EQUITY INCOME
Sector
IT Global Equity Income
Fund type
Investment Trust
Primary aim
GROWTH & INCOME
Why Money Observer Rates Invesco Perpetual Select Global Equity Income IT

Rated Fund 2015-2017. Investing in quality companies at the right price

The Global Equity Income portfolio is one of four portfolios within the Invesco Perpetual Select Trust. It yields 3.3 per cent. The other portfolios are UK Equity, Balanced Risk and Managed Liquidity. They operate as standalone companies with different managers. Global Equity Income is the second largest portfolio in the trust after UK Equity.

An attraction of the trust is that investors are able to switch between asset classes without triggering a disposal for capital gains purposes. Switches between the four portfolios can be made on a quarterly basis. Another positive is the board's strict discount control policy.

Global Equity Income has been managed since 2011 by Nick Mustoe, Invesco Perpetual's chief investment officer. He decides on the asset allocation and draws on the expertise of the group's relevant country managers when choosing individual stocks. His strategy is to invest in high-quality companies at attractive valuations.

His definition of high-quality companies are those businesses that can sustain profit margins and deliver positive returns through the economic cycle, with attractive franchises and balance sheets with a conservative level of debt. He sees growing and sustainable dividends as clear evidence of this sort of company.

Mustoe stresses his long-term approach; despite 2016's political upheavals, he remains an optimist. At the end of 2016, the portfolio's highest exposures were to the US and Europe, with the UK on just under 20 per cent.

3 Year Performance
Fund Performance43.1%
Average of Rated Funds Group40.9%
Sector Performance42.9%
Fund information
Fund name
Invesco Perpetual Select Global Equity plc
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund managers
  • Nick Mustoesince 01/12/2012
  • IP Global Equity Income Groupsince 01/12/2012
Accolades
Fund objective
The investment objective of the Global Equity Income Share Portfolio is to provide an attractive and growing level of income return and capital appreciation over the long term, predominantly through investment in a diversified portfolio of equities worldwide.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
No data available.
Quick stats
1 Year return
9.7%
1 Year rank in sector
4/7
Sector
IT Global Equity Income
Yield
3.2%
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.
0.81%
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.
72
Mid price
205
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.
204.56
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.
+0.22
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.
106
Top in this sector
Fund name1 Year
JPM Gbl Grw&Inc plc14.2%
Blue Planet Inv Tst PLC ORD 1P13.3%
Hnd Int Inc Tst plc10%
Invesco Perp Select GE plc9.7%
Murray Intl Tst PLC9%
...more in IT Global Equity Income

Performance snapshot

Holdings snapshot

  • Europe39.5%
    Americas33.2%
    UK15.5%
    Pacific ex-Japan8.9%
    Japan2.9%
  • No data available.
  • European Equities39.5%
    American Equity33.2%
    UK Equities15.5%
    Asia Pacific ex Japan Equities8.9%
    Japanese Equities2.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.6%-0.2%3.8%9.7%43.1%90.7%
Sector-4.3%-1.8%1.2%10.1%42.9%66.1%
Rank within sector2 / 72 / 72 / 74 / 74 / 73 / 7
Quartile2nd2nd2nd3rd3rd2nd
Calendar performance
 YTD - 20182017201620152014
Fund-0.5%13.5%23%7.7%8.5%
Sector-3.2%17.6%25.6%1.7%2.4%
Rank within sector1 / 75 / 77 / 72 / 72 / 7
Quartile1st3rd4th2nd2nd
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.
2.05
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.
0.88
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.
1.15
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%.
9.45
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.
6.25
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.
0.04
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 high212
52 week low189.25
Current bid price202
Current offer price208
Current mid price205
Region
1Europe39.5%
2Americas33.2%
3UK15.5%
4Pacific ex-Japan8.9%
5Japan2.9%
Industry sector
No data available.
Asset type
1European Equities39.5%
2American Equity33.2%
3UK Equities15.5%
4Asia Pacific ex Japan Equities8.9%
5Japanese Equities2.9%
Individual holdings
1MICROSOFT CORP3.1%
2CHEVRON CORP3%
3JPMORGAN CHASE & CO3%
4ORANGE SA2.9%
5BP2.6%
6ING GROEP N.V.2.5%
7ROYAL DUTCH SHELL2.5%
8TAIWAN SEMICONDUCTOR MANUFACTURING2.5%
9DEUTSCHE POST AG2.4%
Management
Fund manager group
Invesco Perpetual
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund objective
The investment objective of the Global Equity Income Share Portfolio is to provide an attractive and growing level of income return and capital appreciation over the long term, predominantly through investment in a diversified portfolio of equities worldwide.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
No data available.
Fund managers
NameSinceBiography
Nick Mustoe01/12/2012Based in Henley-on-Thames, Nick is Chief Investment Officer of Invesco Perpetual. Nick joined the company in June 2010. His investment career spans over 30 years to date, having started with Phillips & Drew Fund Management as a UK equity manager in 1985. More recently, he was appointed CIO of Pictet Asset Management in 2006 after joining Hermes Pensions Management as CIO in 2002. He holds a first class honours degree in Business Studies from Bradford University.
IP Global Equity Income Group01/12/2012The Invesco Perpetual Global Equity Income Group comprises CIO Nick Mustoe and fund managers Tim Marshall (UK Equities), Andrew Hall (Global Equities), Simon Clinch (US Equities), Stephanie Butcher (European Equities), Tim Dickson (Asian Equities) and Tony Roberts (Japan Equities) and Investment Strategist Martin Weiss (Global Equities) and Product Manager Arwel Green (Global Equities).
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Invesco Perpetual Select Global 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 price205.63
CurrencyGBX
Price updated19/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNLMY
Invesco Perpetual Select Global 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 price204.56
CurrencyGBX
Price updated19/02/2018
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBL6
Invesco Perpetual Select Global 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 price204.56
CurrencyGBX
Price updated19/02/2018
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBL7
Data provided by

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