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Invesco Perpetual Select Trust plc: UK Equity share portfolio update

Video | 22 March 2017

Video information


James Goldstone

James Goldstone

Fund Manager

Investment risks

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

Forecasts are not reliable indicators of future performance.

When making an investment in an investment trust you are buying shares in a company that is listed on a stock exchange. The price of the shares will be determined by supply and demand. Consequently, the share price of an investment trust may be higher or lower than the underlying net asset value of the investments in its portfolio and there can be no certainty that there will be liquidity in the shares.

The Invesco Perpetual Select Trust plc may use derivatives for the purpose of efficient portfolio management. There may not be a precise correlation between price movements in the underlying securities, currency or index, on the one hand, and price movements in the investments, which are the subject of the hedge, on the other. In addition, an active market may not exist for a particular derivative instrument at any particular time.

The Directors intend that each portfolio will effectively operate as if it were a stand-alone company. However, prospective investors should be aware that in the event that any of the portfolios have insufficient funds or assets to meet all of its liabilities, such a shortfall would become a liability of the other portfolios. In addition, should the investment trust incur material liabilities in the future, a significant fall in the value of the investment trust’s assets as a whole may affect the investment trust’s ability to pay dividends on a particular class of Shares, even though there are distributable profits attributable to the relevant portfolio.

The investment trust may use borrowings to invest in the market. The use of borrowings may enhance total return when the value of the investment trust’s assets is rising, but it will have the opposite effect when asset values fall. The use of borrowings may increase the volatility of the share price and the net asset value per share. In certain circumstances, the investment trust may be required to repay borrowings and this could adversely affect income and capital returns.

The investment trust expects to increase dividend payments on the Global Equity Income and UK Equity shares by making use of its ability to distribute capital. To the extent the investment trust uses its ability to fund dividends using capital profit this will reduce capital growth.


James Goldstone became Portfolio Manager of the Invesco Perpetual Select Trust plc UK Equity Share Portfolio on 4 October 2016. The previous Portfolio Manager was Mark Barnett, Head of UK Equities at Invesco Perpetual.

Important information

All information correct as at 7 March 2017, sourced from Invesco Perpetual unless otherwise stated.

Where James Goldstone has expressed opinions, they are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco Perpetual investment professionals.

Where securities are mentioned in this video they do not necessarily represent a specific portfolio holding and do not constitute a recommendation to purchase, hold or sell.

For more information on our investment trusts, please refer to the relevant Alternative Investment Fund Managers Directive document (AIFMD) and the latest Annual or Half-Yearly Financial Reports. This information is available from the Literature section of our website

Issued on behalf of the board of the Invesco Perpetual Select Trust plc by Invesco Fund Managers Limited. Authorised and regulated by the Financial Conduct Authority.