By STEPHEN MARRIOTT 19/03/2009
Mark Barnett follows a value bias targeting companies where there is a strong fundamental case for investing. The benchmark plays little part in the investment approach, with there being a strong macroeconomic view played out in the portfolio.
Barnett also manages two investment trusts and has established a strong track record with Perpetual Income & Growth IT, which he’s run for the longest amount of time (since May 2000). Note, currently the fund’s portfolio is very similar to that of the group’s flagship fund, Invesco Perpetual Income, which is managed by Neil Woodford. However, this should not come as no surprise at the moment given that Invesco Perpetual’s UK desk have a negative view of the UK economy. UK Strategic Income is differentiated by the fact that it takes less concentrated bets at the individual stock level and has greater freedom to invest in small cap ideas.
We have awarded the fund three stars.