Further volatility ahead – but opportunity amid uncertainty.

  • |
  • 10 mins 38 secs

Learning: Unstructured

James Goldstone, Fund Manager

The big story this quarter has been inflation.

Central banks have reacted quite dramatically in an attempt to prevent it from becoming entrenched, and this has created volatility across markets.

What lies ahead? How high is the risk of a policy error? And could we be on the brink of a recession?

James Goldstone thinks we should expect further volatility, but is finding pockets of opportunity in an undervalued UK equity market.

In his Q2 video update, James answers the following questions:

  • 00:12: What has happened in the market over the quarter?
  • 02:24: How concerned are you about inflation?
  • 03:32: How did the Invesco Select Trust plc – UK Equity Share Portfolio perform over the quarter?
  • 06:33: What changes have you made to the portfolio over the period?
  • 07:38: How is the portfolio positioned and what excites you the most in the portfolio at the moment?
  • 08:24: What is your outlook for UK equities?

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.

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

The Invesco Select Trust plc uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. In addition, some companies are suspending, lowering or postponing their dividend payments, which may affect the income received by the product during this period and in the future.

The Invesco Select Trust plc UK Equity Share Portfolio invests in smaller companies which may result in a higher level of risk than a product that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.

Important information

All information correct as at 8 July 2022 unless otherwise stated.

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 using the contact details shown.

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.

Issued by Invesco Fund Managers Limited, Perpetual Park, Perpetual Park Drive, Henley-on-Thames, Oxfordshire RG9 1HH, UK. Authorised and regulated by the Financial Conduct Authority.

Channel: Invesco



Contact us
Telephone 01491 417600
[email protected]

Show More