Invesco Perpetual Select Trust PLC - investor with four share classes with separate asset portfolios - UK Equity Share Portfolio outperforms benchmark, with net asset value total return of 11% for the six months to November 30 compared to a 6.9% total return for the FTSE All-Share Index in the same period. Global Equity Income Share Portfolio in NAV total return 16%, while benchmark the MSCI World Index total return returns 12%. Balanced Risk Allocation Share Portfolio likewise beats benchmark, returning 14% in NAV terms versus the 2.6% return for benchmark the ICE BoA Merrill Lynch 3 month LIBOR plus 5% per annum. Managed Liquidity Share Portfolio returns 1.0% based on NAV.
"Towards the end of the period, the announcement of a number of successful vaccines led to a significant rise in equities, with many markets having their greatest ever monthly return in November. The company's portfolios benefitted from being geared in the period, as well as from positive stock and sector selection by the portfolio managers," says Chair Graham Kitchen.
Invesco Perpetual declares equal first, second, and third quarterly dividends for its current financial year for each equity share classes. They were all at the same level as later year, meaning a total UK Equity shares dividend of 4.5p year-to-date, and 4.65p per Global Equity Income share. No Managed Liquidity Shares dividend was declared thus far in financial 2021 and no dividend was declared for Managed Liquidity Shares either.
"We remain convinced that the company offers an attractive and unique mix of strategies, and its structure, with opportunities to convert between share classes, makes it an ideal vehicle for self-managed investors who want enhanced control of their investments – long-term investing with flexibility to switch portfolios in response to market changes," says Kitchen.
Invesco Perpetual is intending to merge with Invesco Income Growth Trust PLC. It has been agreed that James Goldstone, current manager of Invesco Perpetual's UK Equity Portfolio, plus Invesco Income portfolio manager Ciaran Mallon will be joint managers of Invesco Perpetual's UK Equity Portfolio on completion of the deal. It was previously proposed that Mallon would manage this portfolio on completion.
Current stock price: UK Equity 161.04p; Global Equity 212.00p; Balanced Risk 154.10p
Year-to-date change: UK Equity down 0.6%; Global Equity up 2.4%; Balanced Risk up 1.3%
By Anna Farley; annafarley@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.