IVPG.L Regulatory News (IVPG)

Invesco Perpetual Select Trust Plc - Statement re Portfolio Guidance

PR Newswire

London, April 20

Invesco Perpetual Select Trust plc

LEI: 549300JZQ39WJPD7U596

Statement re Portfolio Guidance

The Board announces an adjustment to its guidance as to the number of stocks typically held in the Company’s Global Equity Income portfolio. The new guidance is that the portfolio will typically comprise 40 to 55 stocks (previously 45 to 80 stocks, as published in the last annual financial report). The portfolio has tended to be managed around the lower end of the range, with 52 stocks held at the Company’s last year end, 31 May 2019, and 45 stocks at 31 March 2020. The portfolio manager aims to generate superior performance through active management of a relatively concentrated portfolio and the Board believes that its guidance as to a narrower range, which allows slightly more concentration, will emphasise this. For the avoidance of doubt, it is not intended that the number of stocks held will be less than 40. 

Investors are reminded that from the beginning of 2020 Stephen Anness has taken over full responsibility for the management of the Company’s Global Equity Income portfolio. The portfolio was previously managed by Invesco’s Global Equity Income Group, which was chaired by Nick Mustoe. Stephen leads Invesco’s Global Equity team in Henley, which takes responsibility for research, portfolio construction and communications. Additional idea generation and market insights are provided by regional equity market specialists in the Henley Investment Centre. In the current environment Stephen’s focus is on companies with strong balance sheets that will enable them to see out the Covid-19 crisis.

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Invesco Asset Management LtdCorporate Company Secretary

20 April 2020