Invesco Global Total Return Bond Fund

A flexible global bond fund that aims to maximise total return by actively investing across the full range of global fixed income opportunities, with the freedom to adjust risk, duration and asset allocation as market conditions evolve.
Why this fund?
Introducing the Invesco Global Total Return Bond Fund

The opportunity for investors

The fund is designed to help investors navigate changing market conditions through a flexible and actively managed approach to global bond investing. Unlike traditional bond funds that are tied to a benchmark, the managers can position the portfolio wherever they see the best opportunities, with the aim of delivering attractive returns while carefully managing risk.

Flexibility is our philosophy

We have more flexibility to change the strategy’s asset allocation than traditional fixed income strategies.

Active duration management

Without duration restrictions, we can mitigate risk or take advantage of opportunities.

Attractive risk-adjusted return potential

We align risk and reward through our adaptable and opportunistic bond market allocations.

Why this strategy?

  • Diversified sources of return

    The strategy’s investment objective is to maximise total return, primarily through investment in a flexible allocation of debt securities and cash. 

    We are free from benchmark constraints, and can actively allocate to corporate bonds, government debt, high yield bonds and cash across fixed income markets globally. 

    The flexible strategy is characteristic of our philosophy as an investment team: we only invest when we believe the return potential is sufficient to compensate for the risk. We look to deliver strong performance across a range of market environments.

     

  • Flexible approach to duration

    By taking a flexible approach to duration, we believe we can reduce the impact of rate hikes on strategy performance and volatility.

    Meanwhile, when we think rates look attractive, we aim to take advantage of the returns on offer.

    We are free to hold up to 100% in cash and near-cash instruments, where appropriate.

     

  • Successfully managing bond strategies for 25+ years

    Our time-tested approach is based on fundamental analysis, with a strong emphasis on valuation. 

    Our 40+ team members have extensive industry experience and have been successfully managing bond strategies for 25+ years.

    Launched in 2010, this strategies has navigated a wide range of market environments.

Access the Invesco Global Total Return Bond Fund product page to view KIIDs/KIDs and factsheets. The investment concerns the acquisition of units in an actively managed fund and not in a given underlying asset.

See fund details

  • The strategy will invest in derivatives (complex instruments) which will result in leverage and may result in large fluctuations in value.

    Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date.

    Investments in debt instruments which are of lower credit quality may result in large fluctuations in value.

    Changes in interest rates will result in fluctuations in value.

    The strategy may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.

    The strategy may invest in distressed securities which carry a significant risk of capital loss.

    The strategy may invest in a dynamic way across assets/asset classes, which may result in periodic changes in the risk profile, underperformance and/or higher transaction costs.

Strategy managers

Julien Eberhardt and Asad Bhatti are responsible for managing the strategy, supported by the rest of Invesco’s Fixed Income Team. Together, Julien and Asad have a combined 40+ years of industry experience.

Julien Eberhardt, Fund manager


The mandate we have in this fund really allows us to align risk with reward across a range of market environments.

Julien Eberhardt
Fund manager

Frequently asked questions

Diversification
Bonds can help diversify a portfolio, as they have often behaved differently from equities during periods of market volatility. This can help reduce overall portfolio risk and support more consistent investment outcomes.

Income potential
Bonds typically provide a regular income stream through interest payments, making them an attractive option for investors seeking a balance of income and capital preservation.

Total return measures the overall gain from an investment, combining both the income it generates and any change in its value over time. For bond investors, this includes interest payments as well as any capital gains or losses. Focusing on total return means considering the full growth potential of an investment, rather than income alone.

Duration is a measure of how sensitive a bond's price is to changes in interest rates. In general, bonds with a higher duration tend to be more affected by interest rate movements than those with a lower duration.

Duration management refers to the active adjustment of a portfolio's interest rate exposure. By increasing or reducing duration, fund managers can position the portfolio to respond to changing market conditions and manage risk more effectively.

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  • This marketing communication is exclusively for use by Professional Clients in Dubai. It is not intended for and should not be distributed to the public.

    Data as at 28.02.2025, unless otherwise stated.

    This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.

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