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Invesco Euro fund aims for 6% yield

Invesco Perpetual has set up a European high-income fund.

The fund has a target yield of 6 per cent. It is aiming for a high level of income and long-term capital growth by investing in continental European equities and bonds.

Heads of fixed income Paul Causer and Paul Read will manage the bond element of the fund and European equity income specialist Katharina Hoyland will manage the equity element.

Read says: “We launch this fund in exciting times. Conditions since last summer have presented a challenge but the sharp and indiscriminate widening of credit spreads has left credit markets in a position in which they are now beginning to offer compelling value.

Hoyland says: “Continental Europe is an attractive hunting ground for equity income investors. Companies now offer dividend yields and payout ratios approaching those traditionally found in the UK market. At the same time, Europe provides a diversified range of investment opportunities at interesting valuations.”

Minimum investment is £500, with £100 top-up. Initial charge is 5 per cent and annual 1.25 per cent for accumulation or income and 0.75 per cent for accumulation or income without trail.


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Even the most conservative of UK balanced pooled pension funds lost money in the opening quarter of this year.

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