Invesco considers strategic bond launch
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Invesco Perpetual is considering the launch of a strategic bond fund, Money Marketing understands.
The firm’s £2.68bn monthly income plus fund already sits in the IMA strategic bond sector and is managed by Paul Causer, Paul Read and Neil Woodford. It invests in high yielding corporate and government bonds, together with UK equities but the firm is lacking a pure strategic bond fund.
Thames River multi-manager co-head Gary Potter says such a launch would complement their product range.
He says: “I think it would be a natural thing for them to do as the easy money has been made in corporate bonds. It would not surprise me if the next stage of their development was a more strategic type approach using Ucits III powers with a greater scope to use different parts of the bond market to create a product which is adaptive in what are probably going to be quite interesting but volatile bond markets over the next couple of years.”
Advisers say Read and Causer would be the likely candidates to captain a fund.
Hargreaves Lansdown investment manager Ben Yearsley says: “If they did it, it would be Read and Causer. I think a lot of money would move over from the MIP if that was the case because it is effectively their strategic vehicle at the moment.”
An Invesco Perpetual spokeswoman says: “Our product development team is always looking at ways of enhancing and strengthening our offering for our clients. Given the strength and expertise of our fixed income capability this would be a natural area for them to be reviewing.”
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