Article

Retail Offer Announcement

25 January 2024
Invesco

On 24th January 2024, Invesco Bond Income Plus Limited (BIPS) announced an offer to allow existing and new investors to access the investment trust at a 0.75% premium to NAV, representing a reduction to its current premium. This premium currently stands at 1.97%, with a 12-month average of 1.55%, reflecting ongoing demand for the investment trust.

BIPS is a high-yield bond investment trust notable for its consistent dividends delivered over several years, which has provided investors with dependable income – not just in terms of its 6.8% yield¹, but in real income, with the Board committed to providing investors with a dividend of 11.5p per share². This consistency has seen BIPS pay out at least 10p per share every year for the last decade, and increased it in each of the past two years despite market volatility. In September, BIPS was the winner of the AJ Bell Investment Awards 2023 in the ‘Active Bonds’ category.³

For investors seeking high-yield fixed income exposure, the BIPS offer presents an opportunity for new or existing shareholders to purchase shares at a modest premium to NAV. 

The offer is expected to close at 12:00 mid-day on 7 February 2024.

For further information: Read the Retail Offer Announcement 

If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser.

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  • ¹ The yield shown is expressed as a % of the current NAV of the fund, as at 23 January 2024 (source: Invesco). The yield is not guaranteed. Nor does it reflect any charges. Investors may be subject to tax on distributions.

    ² Dividend payments are determined by the Board and are not guaranteed.

    ³AJ Bell Investment Awards 2023: The AJ Bell Fund and Investment Trust Awards were launched in 2017 and rebranded this year to The AJ Bell Investment Awards 2023. It is the chance for AJ Bell customers to vote for their pick of active and passive funds as well as stocks in 39 award categories. The aim of the awards is to recognise and reward the funds, trusts and listed companies who are, in the eyes of investors that use AJ Bell platforms, simply the best. The first stage in the awards process was to narrow down the choice from the many thousands of investment funds, trusts and stocks available. To do this AJ Bell assembled an expert panel of investment professionals who selected their preferred nominations in each of the categories. In each category there were 6 finalists and AJ Bell customers then picked the overall winner for each category. For more information on the awards and the categories, please visit the website: http://investmentawards.ajbell.co.uk/

  • 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.

    The Invesco Bond Income Plus Limited has a significant proportion of high-yielding bonds, which are of lower credit quality and may result in large fluctuations in the NAV of the product.

    The Invesco Bond Income Plus Limited may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.

    The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.

    The Invesco Bond Income Plus Limited uses derivatives for efficient portfolio management which may result in increased volatility in the NAV.

  • Data as at 24 January 2024 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.

    Views and opinions are based on current market conditions and are subject to change.

    For more information on our products, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. This information is available on the website: https://www.invesco.com/uk/en/investment-trusts/invesco-bond-income-plus-limited.html.

    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.

    Invesco Bond Income Plus Limited is regulated by the Jersey Financial Services Commission.