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Invesco Perpetual Corporate Bond

Elite Rated by FundCalibre

This fund offers investors access to Invesco’s renowned and well-resourced fixed interest team. The managers use the flexibility within the fund’s sector guidelines to full effect and run the fund with a pragmatic and proactive style. Over the years, their process has resulted in strong returns for investors.

Company Description

Founded in 1969, Invesco Perpetual forms part of Invesco Ltd, a global independent investment management company with more than 740 dedicated investment professionals in more than 20 countries. Its focus is on equities but it also invests in fixed interest and other asset types. It was awarded the Elite Provider for Equities Rating in 2016 and 2017.

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Fund Manager

Paul Causer, who is extremely well-respected in the industry, heads up Invesco’s renowned fixed interest team and has managed this fund since 1995. Michael Matthews has also worked with the team since 1995 and has co-managed the fund since 2012.

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We’re active managers. Our job is to invest where we see a good reward for the risk and to be defensive where we don’t.

Paul Causer - Fund Manager

The Investment Process

The managers’ process involves fundamental analysis to assess the credit worthiness of the issuer and to identify bonds that they believe to be undervalued. This is then complemented by the team’s macroeconomic views. They are happy to take long and short-term positions.

Risk

The fund’s performance could be affected by interest rate rises. The risk levels of the fund are also increased by its considerable size, which could become a problem should there be large investor outflows.

Our Opinion

Invesco has one of the best fixed interest teams around and the fund is managed by some of the most respected managers in the industry. It has been positioned cautiously over the past few years, which has hurt relative performance as interest rates have continued to fall until recently.However, over the longer term, it has an excellent track record and is typically one of the less volatile funds in its sector.

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©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.