Invesco have announced that from 30th July 2020, the Invesco High Income Fund will change to Invesco UK Equity High Income Fund.
Additionally, effective 1st October 2020, the frequency of distribution payments from the fund will change from half-yearly to quarterly. This is to provide a more regular income stream, in line with the majority of other UK equity income funds in the UK market.
Future distribution dates will be as follows: 28th February, 31st May, 31st August and 30th November.
With the recent departure of Mark Barnett, the new portfolio managers James Goldstone and Ciaran Mallon will continue to run the fund with the aim of growing the fund (dividends and capital appreciation).
Invesco's Chief Investment Officer Stephanie Butcher has commented:
"I have undertaken a comprehensive review of the UK equity range, recognising a period of disappointing performance and listening hard to client feedback. When I became CIO in January, I made it clear I would not shy from introducing change where I saw it necessary. We remain committed to our valuation-driven investment philosophy and are confident that with these enhancements we have the right leadership in place to capitalise on the value that exists in the UK market and deliver long-term investment results for our clients."
There will be no change to the aims of the fund, investment policy, investment strategy or risk profile of the fund.
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- uploaded - 03 July 2020