Led by head of multi-asset investment David Millar, Richard Batty, Sebastian Mackay and Gwilym Satchell will jointly manage the fund, supported by the other seven members of the team.
Sitting in the IA Targeted Absolute Return sector, the fund has three main objectives: to deliver an annual gross income of 3.5% above UK three-month Libor; to preserve capital in all market conditions over a rolling three-year period; and to manage volatility at less than half that of the MSCI World index over the same rolling three-year period.
Global Targeted Income will typically invest in 20-30 investment ideas with a time horizon of between two and three years.
Millar said: “Conversations with our clients have highlighted a clear and growing need for sustainable income due to a challenging macroeconomic climate and an ever-lengthening retirement period.
“In today’s low-yield environment, multi-asset investing helps investors spread the overall risk taken while providing the opportunity for more stable returns compared to investing in just one asset class.”
Invesco Perpetual said it would use a similar process to the investment process on the Global Targeted Return fund.
With a minimum investment of £500, the ongoing charges will be 0.82%, 0.87% or 1.07%, depending on the chosen share class. These charges are net but exclude transaction charges.
Millar added: “Given Invesco Perpetual’s long and established track record of income investing, alongside the success of its multi-asset investment approach, the Global Targeted Income fund seeks to help those clients looking for predictable monthly income, relatively low volatility and a focus on capital preservation.”
