Up until now, the fund has been labelled under the IMA UK Equity Income sector.
“Funds are placed into the IMA sector whose criteria they meet. The Invesco Perpetual High Income fund meets the criteria for the IMA UK All Companies sector, and no longer meets the criteria for the IMA UK Equity Income sector,” a spokesperson for the IMA said.
The company also announced that its Income Fund and Strategic Income Fund will be transferred into the same sector later this year. This is due to the similarities in the funds’ investment approach to equity investing, as well as the three year yield requirement restraint used to qualify for the IMA UK Equity Income sector.
“We believe that the interests of clients in these particular funds are best served by us continuing to focus on providing a growing level of income, balanced with the opportunity for capital growth over the long term,” Ian Trevers, head of UK retail, commented.
He added that the sector change would not impact the investment strategy of the funds.
