Bestinvest says
Whilst the fund is built around high quality OECD government debt, the managers may also include exposure to corporate bonds if they perceive that more attractive investment opportunities are available. Currency exposure and managing interest rate sensitivity will also act as a driver of returns. The manager can take steps to reduce the potential negative impact of an increase in inflationary expectations but generally the fund will tend to struggle more under such circumstances.
The Invesco Perpetual Global Bond Fund seeks to achieve a good investment return in the medium to long term, combined with relative security of capital, by investing mainly in sovereign debt with some exposure to quality and high yield corporate debt.
The management team begins with a review of global fixed income markets with the aim of identifying interest rate anomalies through the evaluation of the local macro economic and monetary environments. The global economic team in Henley will provide input into this process, as does external analysis from preferred City brokers. This overview is then combined with considerations of currencies, global yield curves, relative values in differing markets and credit spreads. Individual portfolio securities represent the best ideas derived from the fundamental research that fit into this market overview.