Invesco Perpetual, an independent investment manager in the UK, is planning to roll out its first multi-asset strategy, the IP Global Targeted Returns fund.
The fund will aim to achieve a positive total return through capital growth and income over a rolling three-year period.
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The Invesco Perpetual Global Targeted Returns (GTR) fund is managed by multi-asset head David Millar, Dave Jubb and Richard Batty and sits in the IMA’s Targeted Absolute Return sector.
The aim of the fund is to achieve a positive total return in all market conditions over a rolling three-year period. It will invest in equities, equity-related securities, debt securities, and money-market instruments.
The new vehicle will launch as an open-ended, UK-domiciled portfolio and target a gross return of 5% above the UK three-month Libor per year, with less than half the volatility of global equities.
The minimum investment for the fund is £500 and ongoing charges are 1.6%.
The trio joined the firm earlier this year from Standard Life Investments (SLI) where they played key roles in the management of the Standard Life Global Absolute Return Strategies (Gars) fund.
The three will be supported by fellow ex-SLI colleague Gwylim Satchell, who takes up the post of risk manager after managing a range of liability-driven investment funds at his previous team.
Invesco Perpetual’s head of distribution Ian Trevers said any new product would be differentiated from SLI’s hugely successful strategy.
Trevers said:" There will be no copycat products but something that is unique and identifiably Invesco, and not necessarily focused on absolute return. He believes they are struggling in constructing portfolios that not only combine diversification with the control of volatility, but also address the need to deliver returns.
"Multi-asset investing would be absolutely key given the regulatory environment and changing buying habits. Advisers are recognising that strategies of this nature have an important role to play in clients’ portfolios, we have seen this with the success of GARS," Trevers added.
