Webinar replay: Fixed Income update
- 59 mins 43 secs
Listen now to hear Fixed Interest Fund Managers Mike Matthews and Thomas Moore discuss their current market views and where they see challenges and opportunities, along with an update on how their portfolios are positioned.
Funds that are covered:
- Invesco Corporate Bond Fund (UK)
- Invesco Distribution Fund (UK)
- Invesco High Yield Fund (UK)
- Invesco Monthly Income Plus Fund (UK)
- Invesco Sterling Bond Fund
- Invesco Tactical Bond Fund (UK)
Standardised rolling 12-month performance (%)
|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||YTD|
|Invesco Monthly Income Plus (UK) Class Z||-2.55||8.9||4.22||0.96||-5.48||-11.42|
|IA Sterling Strategic Bond Sector||-1.61||7.68||1.95||2.28||-1.86||-6.62|
Past performance is not a guide to future returns. Source: Invesco as at 31 March 2019. Fund performance figures are shown for the Z Acc share class, in sterling, inclusive of reinvested income, net of the Ongoing Charge and net of portfolio transaction costs. Sector average performance is calculated on an equivalent basis. This is a Comparator Benchmark. Given its asset allocation the Funds performance can be compared against the Benchmark. However the Fund is actively managed and is not constrained by any benchmark.
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 securities that the funds invest in 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 for the securities in which the Fund invests, may mean that the Fund may not be able to sell those securities at their true value. These risks increase where the Fund invests in high yield or lower credit quality bonds.
The funds have the ability to make use of financial derivatives (complex instruments) which may result in the fund being leveraged and can result in large fluctuations in the value of the fund. Leverage on certain types of transactions including derivatives may impair the fund’s liquidity, cause it to liquidate positions at unfavourable times or otherwise cause the fund not to achieve its intended objective. Leverage occurs when the economic exposure created by the use of derivatives is greater than the amount invested resulting in the fund being exposed to a greater loss than the initial investment.
The funds may be exposed to counterparty risk should an entity with which the fund does business become insolvent resulting in financial loss.
The funds may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.
The funds’ performance may be adversely affected by variations in interest rates.
As one of the key objectives of the Invesco Distribution Fund (UK), the Invesco Monthly Income Plus Fund (UK) and Invesco High Yield Fund (UK) is to provide income, the ongoing charge is taken from capital rather than income. This can erode capital and reduce the potential for capital growth.
As the Invesco Tactical Bond Fund (UK) can rapidly change its holdings across the fixed income and debt spectrum and cash, this can increase its risk profile.
The Invesco Tactical Bond Fund (UK) has the ability to invest more than 35% of its value in securities issued by a single government or public international body.
Invesco Sterling Bond Fund
Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date. Changes in interest rates will result in fluctuations in the value of the fund. The fund uses derivatives (complex instruments) for investment purposes, which may result in the Fund being significantly leveraged and may result in large fluctuations in the value of the fund. Investments in debt instruments which are of lower credit quality may result in large fluctuations in the value of the Fund. The fund may invest in distressed securities which carry a significant risk of capital loss. The fund may invest extensively in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.
All data is as at 29/02/2020 and sourced from Invesco 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. This web page is marketing material and 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.
This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Persons interested in acquiring the fund should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences. As with all investments, there are associated risks. This document is by way of information only. Asset management services are provided by Invesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictions where its promotion and sale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not all share classes are the same nor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependent on share class chosen. Please check the most recent version of the fund prospectus in relation to the criteria for the individual share classes and contact your local Invesco office for full details of the fund registration status in your jurisdiction.
For more information on our offshore funds, please refer to the most up to date relevant fund and share class-specific Key Investor Information Documents, the latest Annual or Interim Reports and the latest Prospectus, and constituent documents. Subscriptions of shares are only accepted on the basis of the most up to date legal offering documents. These documents are available from our website www.invesco.eu and are without charge. The Key Investor Documents are available in local language. This marketing document is not an invitation to subscribe for shares in the fund and is by way of information only, it should not be considered financial advice.
For the purposes of UK law, the Invesco Sterling Bond Fund is a recognised scheme under section 264 of the Financial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do not apply to offshore investments.
For the most up to date information on our funds, please refer to the relevant fund and share class-specific Key Investor Information Documents, the Supplementary Information Document, the Annual or Interim Reports and the Prospectus, which are available using the contact details shown.
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.