Invesco Global Smaller Companies (UK) Y

  • 451.20p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 479.64p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.90%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.90%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.50%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 30 November 2021

This fund targets capital growth from a global portfolio of quoted smaller companies. The fund is managed as a series of regional sub-portfolios, each of which is run by Invesco's relevant regional team. Asset allocation is decided at monthly meetings chaired by the CIO and attended by the regional teams. Bottom-up stock research primarily determines stock selection within those regions. Whilst we believe in the importance of smaller companies exposure we have higher conviction in our rated regional small cap funds.

Fund summary

Sector Global
Structure OEIC
Launched
Size £734m
Yield 0.50%
Charging basis Income
Dividends paid 30 Sep

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.90%
Ongoing charges figure 0.90%

Allocation

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Investment process

The fund aims to achieve capital growth through a portfolio of international securities, mainly quoted smaller companies. The fund is run on a carve-out basis, with the whole team deciding on asset allocation and each regional portfolio delegated to the relevant regional specialist manager. All of the sub-portfolios are run from Invesco's Henley office with the exception of the Houston based US portfolio. The non-US portfolios are run on a qualitative basis with a focus on valuation anomalies. Portfolio construction is based on a combination of the outputs from top-down macro analysis and bottom-up stock research. The former is the primary influence on the regional allocation, while the latter determines the stock selection within these countries or sectors and is the key driver. Stock weights are influenced by the team’s conviction on the perceived degree of under-valuation, the value of the stock as a diversifier and regulatory or liquidity constraints.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

Proportion (%)

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Allocation

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Sector breakdown

Industrials 23.00%
Consumer Discretionary 17.00%
Financials 16.00%
Information Technology 15.00%
Health Care 10.00%
Materials 7.00%
Real Estate 4.00%
Consumer Staples 3.00%
Communications 3.00%
Utilities 1.00%

Portfolio

The portfolio has 300-450 securities. Stock weights will typically not exceed 5%. Targets 80% invested in companies that qualify for inclusion in MSCI World Small Cap Index.

Key Investor Information - Income

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Key Investor Information - Accumulation

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