020 7189 9999

INVESCO GLOBAL TARGETED RETURNS (UK) Y

INVESCO GLOBAL TARGETED RETURNS (UK) Y - Overview

Overview of INVESCO GLOBAL TARGETED RETURNS (UK) Y Buy in ISA Buy in Investment Account

The Fund aims to achieve a positive total return in all market conditions over a rolling 3 year period. The Fund targets a gross of fee return of 5% per annum above UK 3 month LIBOR (or an equivalent reference rate) and aims to achieve this with less than half the volatility of global equities. The fund is typically built around a mix of directional and relative value investment themes, across the main asset classes, none of which on their own, is intended to dominate portfolio risk.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector Targeted Absolute Return
Structure OEIC
Launched March, 2014
Size £10,822m
Yield 1.1%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.82%
Ongoing charges figure 0.82%

Risks

Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Information Investor Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

The core investment team joined Invesco from Standard Life, where they were managed an identical product. The success of the product is very much dependent on the quality of idea generation and its subsequent implementation. The efforts of the Invesco team are dedicated to their two funds (a total return and an income version), they have no additional mandate responsibilities.

Portfolio

Allocation Proportion(%)
Equity 0
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 100
Fund cash 0
Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Emerging Markets 0
Allocation Proportion(%)
Large Caps 0
Mid Caps 0
Small Caps 0
View all performance data for this fund

Investment process

The investment process starts with the identification of 20-30 independent investment themes that can each contribute 25-50bps of performance p.a. against the team's core market scenario over a 2-3yr horizon. These return opportunities may be drawn from a number of research sources, which might include the broader Invesco Group and external sell side research. The ideas are subsequently combined into a portfolio and stress tested against different market scenarios to arrive at the optimal portfolio mix. The implementation of these ideas are then regularly re--assesed to ensure the most efficient and effective means of expression is being adopted. The greater diversification is designed to reduce the impact of one market or asset class on the portfolio. Typically the portfolio is expected to be evolve slowly. The team estimate they should be able to achieve their target return objective if they can achieve a 60% success / hit rate.

Live feed

Bid price(inc) 221.85p
Accum units 221.85p
Fund commentary 01/12/14
Fund data updated on 20/09/19

Asset allocation

Allocation Proportion(%)
Equity 0
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 100
Fund cash 0

Equity Geographic

Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Emerging Markets 0

Equity Capitalisation

Allocation Propor
tion(%)
Large Caps 0
Mid Caps 0
Small Caps 0

Top 10 holdings

As at: 30/08/2019
4.7093%Societe Generale Perpetual(Call Acct)
3.9874%Mexico(United Mexican States) 10% Bds 05/12/24 Mxn100
3.9111%France(Govt Of) 1.500 May 25 50 Reg
3.6153%South Africa(Republic Of) 10.5% Bds 21/12/2026 Zar1(186)
3.3173%Qatar National Bank Perpetual(Call Acct)
2.9182%Invesco Gbl Fd Mngrs Short Term Inv Stlg
2.5679%Tsy Infl Ix N/B 1.000 Feb 15 49 I/L
Source: Trustnet

Sector breakdown

Money Market 41%
Government Bonds 15%
Financials 11%
Consumer Services 7%
Oil & Gas 5%
Industrials 5%
Consumer Goods 5%
Technology 4%
Health Care 3%
Telecommunications 3%

Portfolio details

20-30 investment ideas.

Constraints

Max 50% allocation of risk to any one of credit, equity, interest rates, currency and volatility. Ex ante volatility is expected to be in the 4-8% range or less than half equity volatility.

Average monthly relative returns Bestinvest MRI
14/15 15/16 16/17 17/18 18/19   3 years 5 years Career 3 years 5 years Career
0.21% 0.29% 0.18% -0.22% -0.10%   -0.05% 0.07% 0.17% 56.80% 85.30% 96.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Invesco Perpetual Multi Asset Team

Manager. David Millar joined Invesco Perpetual in January 2013 to head the Multi Asset team. He began his investment career with Scottish Widows in 1989, where he qualified as an actuary. In 1996, he joined the fixed interest team at Scottish Widows Investment Partnership, and quickly rose to head of bond strategy and chair of its Bond Policy Group. In 2008, he joined Standard Life Investments as investment director in its multi asset investing team. He holds a BSc (Hons) in Mathematical Statistics from the University of Cape Town and is a Fellow of the Institute and Faculty of Actuaries.

Track record

Invesco Perpetual Multi Asset Team has 5.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.17%. During the worst period of relative performance (from May 2017 - November 2018) there was a decline of 7% relative to the index. The worst absolute loss has been 6%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance
Absolute -6% (May 2017 - November 2018)
Relative -7% (May 2017 - November 2018)

Other funds managed

Sector record since October 2013 (6 yrs)




About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Your Session will expire soonclose overlay

As you have been inactive for nearly 15 minutes you will soon be logged out of the secure area of our website. Click OK to remain logged in.