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Invesco Perpetual considers Latin American launch

Invesco Perpetual is considering the launch of a Latin American investment trust.

The fund would only be the second offering in the Association of Investment Companies Latin America sector, sitting alongside the £305m BlackRock Latin American investment trust.

Invesco Perpetual already manages an open-ended fund investing in the same area, the Invesco Perpetual Latin America fund. Managed by Dean Newman since it was launched in 1994, the £390m fund has returned 269.5 per cent over five years to April 19, according to Morningstar.

Invesco Perpetual sales director of specialist funds Andrew Watkins says: “We are in the early stages of looking at various options but we are anxious that any launch should coincide with the manager’s view of the Latin American markets’ prospects.

“It has had a good recent run and while JP Morgan did well to raise nearly £50m for its Brazil investment trust, we are looking at having a wider remit and a different investment bias and will only launch when the manager says it is the right time.”

Newman would also run the proposed closed-ended trust and in his view, says Watkins, Latin America offers one of the best investment opportunities of the non-developed markets over the medium-to-longer term.

Over 12 months to April 19 the open-ended fund, which sits in the Investment Management Association Specialist sector, returned 87.1 per cent bid-to-bid. Over the same time period BlackRock Latin American Investment Trust has returned 62.1 per cent mid-to-mid.

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