We are pleased to introduce the Invesco Perpetual Global Targeted Returns fund to our Academy of Funds with an A rating. This is an absolute return fund in which the managers aim to achieve a return of 3 month LIBOR plus 5% gross of fees (equivalent to about LIBOR plus 4% net of fees) over rolling three year time periods with volatility of no more than half that of equities.
The team that runs this fund is experienced, with several senior members having previously worked at competitors such as Standard Life Investments, and very committed to the process and the product. They also draw on the wider Invesco teams, both in the UK and further afield, for idea generation, although the final say as to whether or not an idea should get into the portfolio, as well as the way in which ideas should be implemented, is down to the Multi Asset team. This fund has a clear, tangible and, in our view, realistic objective which should give clients a clear idea what to expect, a robust process and experienced team. Whilst it is still early days both for the team, who are still expanding, and the fund itself, we believe it has made a very encouraging start.
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