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Invesco plans second AIC Latin America play

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. Run by Dean Newman since it was launched in 1994, the £390m Latin America 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 anxious that any launch should coincide with the manager’s view of the Latin American markets.

“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.”

Newman would also run the proposed closed-ended trust.

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