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Invesco Perpetual Enhanced Income Limited

May 2017 (Content as at 30 April 2017)

Introduction

Update on the Fixed Interest investment companies

In this latest update, Rhys Davies discusses how the general improvement in confidence around the global economic outlook has influenced the performance of the Fixed Interest investment companies, how the portfolios are currently positioned and where he sees the biggest risks and opportunities over the coming months.

Watch Rhys’ latest update

Rhys Davies

Video | Duration 05:40

5 May 2017

Rhys Davies, Fixed Interest Portfolio Manager, Invesco Perpetual

Investment objective

The Company’s principal objective is to provide shareholders with a high level of income whilst seeking to maximise total return through investing in a diversified portfolio of high yielding corporate and Government bonds. The Company may also invest in equities and other instruments that the Manager considers appropriate. The Company seeks to balance the attraction of high yield securities with the need for protection of capital and to manage volatility. The Company generally employs gearing in its Investment Policy.

Further details of the Company’s Investment Policy and Risk and Investment Limits can be found in the Report of the Directors contained within the Company’s Annual Financial Report.

Key facts

Launch date: 15 October 1999

Fund manager: Paul Causer, Co-Head of Fixed Interest, Invesco Perpetual. View profile.

Fund manager: Paul Read, Co-Head of Fixed Interest, Invesco Perpetual. View profile.

Portfolio manager: Rhys Davies, Invesco Perpetual. View profile.

View latest company announcements

Company Directors

Donald Adamson (Chairman)
Clive Spears
Peter Yates
Michael Lombardi
Richard Williams

Company Secretary

Should you wish to contact a member of the Board of Directors, please do so via the Company Secretary:

R&H Fund Services (Jersey) Limited
Ordnance House
31 Pier Road
St Helier
Jersey
JE4 8PW
Channel Islands

Tel: +44 (0)1534 825200
Email: info@rhfsl.com

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.

When making an investment in an investment company 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 company 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 portfolio has a significant proportion of high-yielding bonds, which means that there is more risk to investors’ capital and income than from a Company investing in government or investment-grade bonds. Income from the investment may fluctuate and is not guaranteed.

The Company may invest in derivatives. This means that the net asset value of the Company may, at times, be highly volatile. The use of derivative instruments involves certain risks (including market or communication breakdown, counterparty failure and credit risk) and there is no assurance that the objectives for the use of such instruments will be achieved.

The Company may use borrowings to invest in the market. The use of borrowings may enhance total return when the value of the company’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 company may be required to repay borrowings and this could adversely affect income and capital returns.

The Company is Jersey-domiciled and is regulated by the Jersey Financial Services Commission.

Issued on behalf of the board of the Invesco Perpetual Enhanced Income Limited by Invesco Fund Managers Limited.

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Fund manager

Paul Causer

Title: Co-Head of Fixed Interest

Team: Invesco Perpetual - Fixed Interest

Rhys Davies

Title: Fixed Interest Portfolio Manager and Senior Credit Analyst

Team: Invesco Perpetual - Fixed Interest

Paul Read

Title: Co-Head of Fixed Interest

Team: Invesco Perpetual - Fixed Interest

Overview

Objective

Invesco Perpetual Enhanced Income Fund Limited's principal objective is to provide shareholders with a high level of income whilst seeking to maximise total return through investing in a diversified portfolio of high yielding corporate and Government bonds. The Company may also invest in equities and other instruments that the Manager considers appropriate. The Company seeks to balance the attraction of high yield securities with the need for protection of capital and to manage volatility. The Company generally employs leverage in its investment policy. Further details of the Company's Investment Policy and Risk and Investment Limits can be found in the Report of the Directors contained within the Company's Annual Financial Report.

Fixed interest roundtable Q&A: where next for bond markets?

Video

15 July 2015

Invesco Perpetual Fixed Interest team

In this live roundtable with fund managers from our Fixed Interest team, they discussed key issues including whether the Greek debt crisis matters for bond markets and the current macroeconomic backdrop.

Market commentary

Key facts
Product type Investment trust/company
Launch date 15 October 1999
Total gross assets £140.0m
Dividend yield* 6.2%
Available within an ISA Yes
Available within a Savings Plan No

Manager

Paul Causer

Title: Co-Head of Fixed Interest
Team: Invesco Perpetual - Fixed Interest

Rhys Davies

Title: Fixed Interest Portfolio Manager and Senior Credit Analyst
Team: Invesco Perpetual - Fixed Interest

Paul Read

Title: Co-Head of Fixed Interest
Team: Invesco Perpetual - Fixed Interest
Investment trust/company details
Share class Ordinary Share
Currency GBP
Reporting period ends 30 September
Reporting published December
AGM January
Investment levels (within an ISA/Savings Plan)
Minimum additional lump sum £100
Minimum monthly amount £20
Minimum lump sum £500

Charges (within an ISA/Savings Plan)

Full charges are set out on pages 5 & 6 of the Investment Trust Key Features document, available from the Related features & literature tab.

Holdings

 

Literature

Brexit – the pros and cons

Article

04 August 2015

John Greenwood, Chief Economist, Invesco Ltd

The British public will soon have a chance to vote in the “in-out” referendum on continued membership of the European Union? Will the economic benefits of staying in the European project outweigh the costs? If the UK does decide to leave, what are the options available?

Monthly Market Roundup - covering July 2016

Article

03 August 2016

Invesco Perpetual

We review global market developments in July, highlighting the best and worst performing sectors globally.

Changes to our Invesco Perpetual Fixed Interest fund range

News

15 November 2013

Invesco Perpetual

Shareholder approval received to amend the investment objectives of our Invesco Perpetual Fixed Interest fund range.

Company Directors

George Baird (Chairman)
Donald Adamson
Gordon Neilly
Clive Spears
Hugh Ward

Company Secretary

R&H Fund Services (Jersey) Limited

Should you wish to contact a member of the Board of Directors, please do so via the Company Secretary:

Ordnance House
31 Pier Road
St Helier Jersey
JE4 8PW
Channel Islands

Tel: +44 (0) 1534 825200
Email: info@rhfsl.com

London Stock Exchange

Latest company news

View announcements

Literature and forms

Proposals to amend the Company's investment policy and also to change the Company's name

Investment risks

The value of investments and any income will fluctuate (this may partly be as a result of exchange rate fluctuations) and investors may not get back the full amount invested. Depending on individual circumstances, this may affect investment returns. Past performance is not a guide to future returns. The market price of shares in investment trusts may not reflect their underlying net asset value. Our portfolio has a significant proportion of high-yielding bonds, which means that there is more risk to investors' capital and income than from an investment company investing in government or investment-grade bonds. The income from the investment may vary due to differing tax arrangements and fluctuations in market conditions. The Company may invest in derivatives. This means that the net asset value of the Fund may, at times, be highly volatile. The use of derivative instruments involves certain risks (including market or communication breakdown) and there is no assurance that the objectives for the use of such instruments will be achieved. (Effective from 21 March 2007.)

Important information

This information has been issued on behalf of the board of the Company and has been approved for issue by Invesco Asset Management Limited, its Manager and Company Secretary. All portfolio figures are as at date shown (source: Invesco Perpetual). 50% of the annual management charge, and any performance-related fees which become payable and loan interest will be deducted from the fund's capital, which may boost income but constrain or erode long-term capital growth. When making an investment in an investment company 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 company 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 information on this page is selective and does not constitute an offer, or an invitation to subscribe for, or purchase, any securities. This page does not form part of any prospectus and application for shares should be considered only on the basis of a full prospectus. Where Invesco Perpetual has expressed views and opinions, these may change. For detailed information on our investment trusts, please contact us.