Invesco Income Growth Trust plc

Invesco Income Growth Trust plc

20+ years of continuous dividend growth

Please read the Investment Risks and Footnotes at the bottom of the page.

Useful documents

Monthly factsheet (PDF download)

Annual financial report 2019 (PDF download)

Why consider Invesco Income Growth Trust?

  1. Focus on good quality, large UK companies with strong management teams
  2. Aims to reduce risk through diversification across a wide range of companies and sectors
  3. A long-term, valuation driven approach with a low turnover of stocks

How we invest

Strong company fundamentals are of central importance in building the portfolio. As part of his fundamental analysis of a company, this experienced fund manager asks a number of questions: Is it a good company? Is the management team on the shareholder’s side? What is the dividend yield and will it grow? Are the shares attractively valued?

Together with a focus on a number key themes – Industrial and support services, UK Domestic value, International opportunities, and Regulated utilities – appropriate use of gearing is used to potentially enhance returns.**

** Gearing: the trust can borrow money in order to buy more assets. This can increase returns but can also magnify losses.

Insights

Ciaran Mallon, Fund Manager
Investment philosophy

Driven by the prospects of businesses

Ciaran describes his investment philosophy and why it’s more about picking the shares that go in the portfolio than about taking big economic views.

Key facts

Launch date:   March 1996*
Fund managers:   Ciaran Mallon
ISIN:   GB0003585725
AIC sector:   UK Equity Income

* GT Income Growth Trust plc was launched in March 1996 as the successor investment trust to USDC investment trust plc. On 3 July 2000, shareholders approved resolutions to change the investment trust’s name to Invesco Income Growth Trust plc.

Performance

Standardised rolling 12-month performance (% growth)

  31.03.15 
31.03.16
31.03.16 
31.03.17
31.03.17
31.03.18
31.03.18 
31.03.19
31.03.19 
31.03.20
Ordinary Share Price -7.8 16.2 -3.7 1.2 -13.6
Net Asset Value -1.6 15.6 -3.9 5.7 -17.3
FTSE All-Share Index -3,9 22.0 1.2 6.4 -18.5

Past performance is not a guide to future returns. Ordinary share price performance figures have been calculated using daily closing prices with dividends reinvested. NAV performance figures have been calculated using daily NAV with dividends reinvested. The NAV used includes current period revenue and values debt at fair. The FTSE All-Share Index performance shown is total return. All performance figures are in sterling as at 31 March 2020 unless otherwise stated. Standardised past performance figures are updated on a quarterly basis. Source: Morningstar.

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Literature



Financial reports



PDF downloads

Board and Committee downloads



Investment objective

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.

All directors are non-executive and, in the opinion of the Board, are independent of the Manager.

Contact the Board of Directors

Should you wish to contact a member of the Board of Directors, please email the Company Secretary.

When you interact with us, we may collect information about you which constitutes personal data under applicable laws and regulations. The Trust privacy notice explains how we use and protect your personal data.

Footnotes

  • Total Assets: The value of all assets held, less current liabilities, including income for the current year.
  • Dividend Yield: The total declared and prospective dividends for the current financial year, expressed as a percentage of the trust’s value calculated at the last close price. The yield is indicative only and is not guaranteed.
  • Estimated NAV: The net asset value is the value of the company’s assets, less any liabilities.
  • Discount: The amount, expressed as a percentage by which the share price is less than the net asset value per share. Premium: The amount, expressed as a percentage, by which the share price is more than the net asset value per share.
  • Figures are subject to rounding.

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 you are buying shares in a 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 trust 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 use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.

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. This marketing material is not intended as a recommendation to invest in 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. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell securities.
  • 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 in the literature section.