Invesco launches global equity income fund
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The fund, which was first tipped by Money Marketing in April last year, will be a high conviction portfolio of 75 stocks, but with the portfolio able to range between 60 and 100.
Invesco is to merge its international growth fund into the new offering at the conclusion of the offer period on February 27, subject to shareholder approval.
Boyne joined the firm in September 2008 and will look for ideas from the European, Asian, American, Japanese and emerging market equity investment teams.
Invesco Perpetual CIO Bob Yerbury says: “Global equities is an important and growing area for us and the launch of this fund is part of a long-term initiative, led by Nick Hamilton, Head of International Products, aimed at offering investors increased access to the team’s global equity income expertise.”
Boyne says: “Dividend yields are at multi year highs and whilst there are question marks over sustainability of some of these yields, we believe there is a wealth of opportunity available to us.
“Our strategy will be to gain more focused exposure to high quality businesses at attractive prices and then hold them with a view to generating total returns over the long term and managing risk according to market conditions.”
Invesco is also re-naming the global dynamic theme fund to global opportunities. The fund will also be managed by Boyne and will typically hold 50 stocks.
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