Investment Trusts
H
aving helped many thousands of investors, we’re confident that with the right management, stock market investments have the potential to offer strong, long-term rewards. Investing your money within an investment trust can be an effective way, over the long-term, to enjoy the growth potential of the stock market.
In Henley, we manage a range of investment trusts. Whether you choose one of the newer investment trusts or the oldest, at the heart of each one is the same commitment to investment excellence. Each of the trusts is diligently managed with long-term performance in mind, based on an active, high conviction approach to investing.
Perpetual Income and Growth Investment Trust plc
High conviction UK investing
Managed by Mark Barnett, the Company’s investment objective is to provide shareholders with capital growth and real growth in dividends over the medium to longer term from a portfolio of securities listed mainly in the UK equity and fixed interest markets.
Invesco Income Growth Trust plc
Managed by Ciaran Mallon, the Company’s investment objective is to produce income and capital growth superior to that of the UK stock market and dividends paid quarterly that, over time, grow above the rate of inflation.
Keystone Investment Trust plc
The foundation of your portfolio
Managed by James Goldstone, the investment objective is to provide shareholders with long-term growth of capital, mainly from UK investments.
Invesco Perpetual UK Smaller Companies Investment Trust plc
Managed by Jonathan Brown and Robin West, the Company’s investment objective is to achieve long-term total return for shareholders primarily by investment in a broad cross-section of small to medium-sized UK quoted companies.
The Edinburgh Investment Trust plc
Managed by Mark Barnett, the Company invests primarily in UK securities with the long-term objective of achieving an increase of the Net Asset Value per share by more than the growth in the FTSE All-Share Index; and growth in dividends per share by more than the rate of UK inflation.
Invesco Asia Trust plc
Investing in companies that are worth more than the market believes
Managed by Ian Hargreaves, the Company’s objective is to provide long-term capital growth by investing in a diversified portfolio of Asian and Australasian companies. The Company aims to achieve growth in its net asset value (NAV) in excess of the Benchmark Index, the MSCI AC Asia ex Japan index (total return, in sterling terms).
City Merchants High Yield Trust Limited
Managed by Paul Causer, Paul Read and Rhys Davies, the Company’s investment objective is to seek to obtain both high income and capital growth from investment, predominantly in high-yielding fixed-interest securities.
Invesco Enhanced Income Limited
Managed by Paul Causer, Paul Read and Rhys Davies, the Company’s principal objective is to provide shareholders with a high level of income whilst seeking to maximise total return through investing in a diversified portfolio of high yielding corporate and government bonds. The Company may also invest in equities and other instruments that the Manager considers appropriate.
Invesco Perpetual Select Trust plc
This is a multi-asset class investment trust with four share portfolios with a range of objectives suited to investors looking for a long-term investment with the flexibility to react to changing investment conditions. Shareholders are able to convert between the four share classes once per quarter allowing maximum flexibility to gain exposure to their preferred asset classes without triggering a disposal for Capital Gains Tax purposes.
Balanced Risk Allocation Share Portfolio
Individual Investors/ Professional Clients
Global Equity Income Share Portfolio
Individual Investors/ Professional Clients
Managed Liquidity Share Portfolio
Individual Investors/ Professional Clients
UK Equity Share Portfolio
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/company you are buying shares in a investment trust/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 company 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 Edinburgh Investment Trust plc, Keystone Investment Trust plc and Perpetual Income and Growth Investment Trust plc use derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
- Invesco Income Growth Trust plc’s use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
- The Invesco Asia Trust plc invests in emerging and developing markets, where difficulties in relation to market liquidity, dealing, settlement and custody problems could arise. The product uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
- As the Invesco Perpetual UK Smaller Companies Investment Trust plc is a smaller companies investment product, investors should be prepared to accept a higher degree of risk than for a product with a broader investment mandate. The product uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
- The City Merchants High Yield Trust Limited and Invesco Enhanced Income Limited have 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 products use derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall. The products may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.
- The Invesco Perpetual Select Trust plc uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
- The Invesco Perpetual Select Trust plc Global Equity Income Share Portfolio may invest in emerging and developing markets, where difficulties in relation to market liquidity, dealing, settlement and custody problems could arise.
- In the Invesco Perpetual Select Trust plc Balanced Risk Allocation Share Portfolio, fixed income securities may not always make interest and other payments nor is the solvency of the issuers guaranteed. Market conditions, such as a decrease in market liquidity, may mean that the product may not be able to sell those securities at their true value. The product makes significant use of derivatives for investment purposes, which may result in the product being significantly leveraged and may result in large fluctuations in the NAV. The product has exposure to commodities which are generally considered to be high risk investments and may result in large fluctuations in the NAV.
Important information
- Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.
- 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 our website www.invesco.co.uk or by using the contact details shown.
- Further details of the Companies’ Investment Policies and Risks and Investment Limits can be found in the Report of the Directors contained within the Companies’ Annual Financial Reports.