Invesco Perpetual Managed Income Fund
Launch Date 15/02/1997 Initial Charge 5.00%
Fund Size £203M Discount 5.00%
ISIN Number GB0033052308 The total cost of investment after the discount is applied* 0%
Legal Structure OEIC (OEIC) Annual Management Charge 1.50%

*Additionally the fund manager will incur stamp duty, bid/offer spreads in the market and stockbroking commission, which may be in part passed onto the investor. Charges rounded up to nearest 0.25%

The Invesco Perpetual Managed Income fund aims to provide an above average level of income and capital growth through investment in a portfolio of Invesco Perpetual funds, which in turn invest in equities and bonds worldwide. It is suitable for an investor who requires exposure to world stock markets, who may require income, and who is prepared to accept an average level of investment risk.

This fund is managed by Bob Yerbury. The fund does not invest directly in shares and bonds, instead it invests in other funds within Invesco Perpetual. It benefits from the large number of funds available within the group, and the contrasting investment styles followed by different fund managers. The manager can control the positioning of the fund through the combination of underlying funds used. Yerbury does not have control over the underlying fund portfolios, but he will be fully aware of the strategies being employed by the underlying managers.

There is no element of "double charging" as all underlying fund charges are fully rebated back to the fund. The fund currently contains 13 unit trust holdings, but each of these will contain 50 to 100 individual shares resulting in a large degree of diversification.
Key Top 10 holdings - as at August 31st % of fund
   INVESCO FUND MANAGERS INCOME ACC 18.5%
   INVESCO FUND MANAGERS CORPORATE BD ACC 14.7%
   INVESCO FUND MANAGERS US EQUITY ACC 13.7%
   INVESCO FUND MANAGERS UK GROWTH ACC 11%
   INVESCO FUND MANAGERS EUROPEAN EQUITY ACC 8%
   INVESCO FUND MANAGERS ASIAN ACC 7.5%
   INVESCO FUND MANAGERS EUROPEAN EQUITY INCOME FD AC 6.9%
   INVESCO FUND MANAGERS JAPAN ACC 6.6%
   INVESCO FUND MANAGERS UK SMALLER COS EQUITY ACC 5.2%
   INVESCO ASSET MANAGEMENT(IRELAND) GBP BD`A` 2%

The current top ten holdings are shown above and the relative performance of the fund is given in the table below. Please bear in mind that past performance is not a guide to the future, the value of the investments and any income can go down as well as up and you may not get back the amount you invested.
Cumulative Performance
3 mth 6 mth 1 yr 3 yr 5 yr
Fund -7.28% -2.46% 17.25% -5.48% 26.25%
Sector -5.7% -1.07% 16.17% -8.05% 17.94%
Relative to sector -1.58% -1.39% 1.08% 2.57% 8.31%
Rank within sector 176/200 162/186 82/180 44/118 16/92

Data supplied by Financial Express as at July 2010, bid/bid income reinvested. Our views are based upon our understanding of the current legislation. You should not act on any of the information without seeking professional advice. clarity is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate all types of Pensions, Mortgages or Taxation Advice.