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Invesco targeting capital securities with global fund

Invesco Perpetual has launched a global financial capital fund under the management of co-heads of fixed income Paul Causer and Paul Reed and chief investment officer Nick Mustoe.

The fund will invest in a portfolio of capital securities of banks and other financial institutions, including cash and cash equivalents across the globe. It will also invest in equities where appropriate.

The fund sits in the Investment Management Association specialist sector. Annual management fee is 1.25 per cent and initial charge is 5 per cent, which will be discounted by 1.75 per cent initially. Minimum investment is £500.

Head of distribution Ian Trevers says: “We are launching this fund to enable investors to participate in the attractive income streams and capital growth opportunities that we see in the financials sector, which is undergoing a long-term process of structural reform and rehabilitation. Banks and other financials are reorganising their capital structures to meet new regulatory obligations and these changes are strengthening the sector.”

Chelsea Financial Services managing director Darius McDermott: “Invesco has taken a different stance on the financials sector. This fund adds more competition to an area of the market that has been dominated by one or two houses.”


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