Invesco Monthly Income Plus (UK)

  • 102.24p
    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.

  • 352.22p
    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?

  • 5.00% 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!

  • 1.42%
    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).

  • 1.42%
    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.

  • 5.30%
    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 24 September 2020, fund data last updated 16 April 2012

This fund aims to achieve a high level of income through investing in high yielding corporate and government bonds and high yielding UK equities. The team invests throughout global bond markets, with no formal rules as to specific sectors, regions or type of fixed interest security. The equity portion, limited to 20% of the portfolio, is run by Ciaron Mallon manager of the Invesco Perpetual Income and Growth Fund. The fund is unconstrained and targets top quartile performance within the IA £ Strategic Bond peer group. Bonds issued by major governments and companies will be more stable than those issued by emerging markets or smaller corporate issuers; in the event of an issuer experiencing financial difficulty, there may be a risk to some or all of the capital invested. Any historical or current yields quoted should not be considered reliable indicators of future performance.

Fund summary

Sector £ Strategic Bond
Structure OEIC
Launched
Size £2,292m
Yield 5.30%
Charging basis Capital
Dividends paid Last day of each month

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.42%
Ongoing charges figure 1.42%

Allocation

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Investment process

The investment approach is valuation driven and aims to deliver long term outperformance in most market conditions by exploiting inefficiencies in both the fixed interest and equity markets. The fund mainly invests in sterling and euro denominated corporate bonds. All non-sterling fixed interest currency exposure is hedged. Ciaran Mallon manages the equity portion of the fund, restricted to a maximum of 20% of the portfolio, with an aim to identify companies whose outlook and growth prospects are not reflected in their valuations. The general direction of interest rates and the shape of the yield curve will determine the preferred maturities, yields, sectors and credit risk tolerances of assets. It is normal for the bottom up research to be the main contributor but there will be times in the economic or market cycle where the influence of macroeconomic views will be stronger. The team has the ability to use derivatives including interest rate futures as an investment option with an aim to reduce either risk or cost or to generate additional income or capital.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 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

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Sector breakdown

Banks 36.00%
Government Bonds 14.00%
Foods 6.00%
Telecommunications 5.00%
Insurance 4.00%
Money Market 4.00%
Services 2.00%
Retail 2.00%
Automobiles 2.00%
Utilities 2.00%

Portfolio

The portfolio holds around 200 securities over the three asset classes. The corporate bond mix is approximately 75% high yield and 25% investment grade.

Key Investor Information - Income

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Key Investor Information - Accumulation

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