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Invesco Income Growth (IVI) and Invesco Select Trust’s UK Equity (IVPU) shares are merging to create a vehicle with up to c. £200m of gross assets. Under the umbrella of Invesco Select Trust (which has three other share classes offering global equities, multi-asset and cash exposures, and was renamed in early March from Invesco Perpetual Select Trust), the combined fund will thereby take a significant step towards achieving critical mass, but will also share fixed costs of running the trust across a larger pool of assets.
Ciaran Mallon and James Goldstone, previously sole managers on each trust, have worked in the same team at Invesco for eight years. They will now work together on Invesco Select UK Equity, building on the successful partnership they have developed since May 2020 when they became co-managers on Invesco’s open-ended UK Equity High Income and UK Equity Income funds. Since then, these funds have outperformed their benchmarks by 2.7% and 4.1% respectively (data to 28 February 2021).
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