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Invesco Perpetual Select Trust plc Managed Liquidity Share Portfolio

September 2016 (Content as at 31 August 2016)

Introduction

Investment objective

The investment objective of the Managed Liquidity Share Portfolio is to produce an appropriate level of income return combined with a high degree of security.

Investment policy

The Managed Liquidity Portfolio invests in a range of sterling-based or related money market fund assets (which may include transferrable securities, money market instruments, warrants, collective investment schemes and deposits), either directly or indirectly through money market funds, including funds managed by Invesco Perpetual or its associated companies.

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 (Invesco Perpetual Select Trust plc): 23 November 2006

Fund manager: Stuart Edwards, Fund Manager, Invesco Perpetual. View profile.

View latest company announcements

Company Directors and Company Secretary

Patrick Gifford (Chairman)
Alan Clifton
Sir Michael Bunbury
Victoria Muir
Craig Cleland
Paul Griggs (Company Secretary)

Should you wish to contact a member of the Board of Directors, please do so via the Company Secretary (see Contact details).

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 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 investment trust 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.

Issued on behalf of the board of the Invesco Perpetual Select Trust plc by Invesco Fund Managers Limited.

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Fund manager

Stuart Edwards

Title: Fund Manager

Team: Invesco Perpetual - Fixed Interest

Overview

Objective

The investment objective of the Managed Liquidity Share Portfolio is to produce an appropriate level of income return combined with a high degree of security. The Portfolio, managed by Invesco Perpetual, invests in a range of Sterling-based or related money market fund assets (which may include transferable securities, money market instruments, warrants, collective investment schemes and deposits), either directly or indirectly through money market funds, including funds managed by Invesco Perpetual or its associated companies. Initially, a significant proportion of the Managed Liquidity Share Portfolio is invested in the Invesco Perpetual Money Fund, a sub-fund of the Invesco Perpetual Managed Investment Series, an ICVC authorised by the FSA. The Invesco Perpetual Money Fund was launched in 1994 and has produced a cumulative 44.7 per cent. return over the 10 years ended 31 August 2006.

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 23 November 2006
Total gross assets £6.0m
Dividend yield* 0.0%
Benchmark index MSCI World
Available within an ISA Yes
Available within a Savings Plan No

Manager

Stuart Edwards

Title: Fund Manager
Team: Invesco Perpetual - Fixed Interest
Investment trust/company details
Share class Ordinary Share
Currency GBP
Reporting period ends 31 May
Reporting published August
AGM September
Investment levels (within an ISA/Savings Plan)
Minimum additional lump sum n/a
Minimum monthly amount n/a
Minimum lump sum n/a

Charges (within an ISA/Savings Plan)

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?

Company Directors

Patrick Gifford (Chairman)
David Rosier
Alan Clifton
Sir Michael Bunbury

Company Secretary

Karina Bryant

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

Contact details

London Stock Exchange

Latest company news

View announcements

Literature and forms

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. The market price of shares in investment trusts may not reflect their underlying net asset value. The ordinary shares may be geared by way of a bank overdraft. As a consequence, any reduction in the value of the investment trust's investments may lead to a correspondingly greater percentage reduction in its net asset value which would be likely to adversely affect the investment trust's share price. There is no guarantee that the investment policy adopted by the Invesco Perpetual Select Trust plc will provide the returns sought by the investment trust. There can be no guarantee, therefore, that the Invesco Perpetual Select Trust plc will achieve its investment objectives. 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. Although the shares are traded on the London Stock Exchange, it is possible that there may not be a liquid market in one or more of the classes of shares. Invesco Perpetual Select Trust plc may invest in emerging market securities. Investors should be prepared to accept a higher degree of risk than for an investment trust with a broader investment mandate, as difficulties in dealing, settlement and custody could arise. Invesco Perpetual Select Trust plc may use derivatives for the purpose of efficient portfolio management. There may not be a price 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.

Important information

This information has been issued on behalf of the board of the investment trust 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). 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 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.