Fact sheet: Invesco Perpetual UK Smaller Companies IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK SMALL COMPANIES
Sector
IT UK Smaller Companies
Fund type
Investment Trust
Primary aim
No data available.
Why Money Observer Rates Invesco Perpetual UK Smaller Companies IT

New for 2017. An increased income and a search for 'self-help' companies

This trust aims to appeal to investors who are attracted to smaller companies but also need an income. In March 2015, its board decided to start paying a materially higher dividend to shareholders by taking a small contribution from capital profits if necessary, and to make quarterly income payments.

The investment strategy remains the same, however, which is to invest in a broad cross-section of small to medium-sized UK quoted companies, including those listed on Aim. Manager Jonathan Brown seeks to invest in well-managed, financially strong companies with unique propositions or clear competitive advantages.

Brown runs a portfolio of around 80-100 stocks. As a result of his stockpicking approach, the proportion invested in a particular sector is principally determined by the number of attractive companies he can find in that area, rather than by taking a more general view on the wider economy.

He looks for companies that either have great products or services, or companies that are exposed to higher growth niches within the UK economy or overseas. They also need to be able to make strong profit margins and have a means of preventing them being eroded.

In the current low growth environment, he favours stocks with 'self-help' characteristics - companies with the ability to grow profits independently of the wider economy. This can include restructuring stories or businesses with scope to roll out a successful concept more widely.

3 Year Performance
Fund Performance77.7%
Average of Rated Funds Group61.2%
Sector Performance51.7%
Fund information
Fund name
Invesco Perpetual UK Smaller Companies plc
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund managers
  • Jonathan Brownsince 31/05/2002
  • Robin Westsince 31/03/2015
Accolades
Fund objective
The Company’s investment objective is to achieve long-term total return for shareholders primarily by investment in a broad cross-section of small to medium sized UK quoted companies.
Benchmark
  • Numis Smaller Companies Excluding Investment Companies
Investment style
Growth
Investment method
No data available.
Quick stats
1 Year return
42.3%
1 Year rank in sector
5/17
Sector
IT UK Smaller Companies
Yield
3.5%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.78%
Fund size
£263m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
111
Mid price
495
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
505.89
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-2.15
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
100
Top in this sector
Fund name1 Year
River & Merc UK Micro Cap59.2%
Rights & Issues IT50.7%
BlackRock Sm Cos IT46.3%
BlkRck Throgmrtn TstPLC43.4%
Invesco Perp UK Sm Cos plc42.3%
...more in IT UK Smaller Companies

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund6.5%6.5%18.1%42.3%77.7%189.6%
Sector-0.2%4.8%14.1%33.1%51.7%139.5%
Rank within sector1 / 187 / 176 / 175 / 172 / 152 / 15
Quartile1st2nd2nd2nd1st1st
Calendar performance
 YTD - 20172016201520142013
Fund21.3%11.4%28.3%3%39.8%
Sector17.1%4%25.3%-5.1%44.7%
Rank within sector6 / 173 / 175 / 164 / 1510 / 15
Quartile2nd1st2nd2nd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
3.94
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.13
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
13.67
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.48
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.57
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.76
Price movement
52 week high499.5
52 week low357
Current bid price495
Current offer price500
Current mid price495
Region
1UK100%
Industry sector
1Industrials31.8%
2Consumer Services20.3%
3Financials13.9%
4Technology12%
5Health Care10.3%
6Consumer Goods4.8%
7Oil & Gas4%
8Basic Materials1.8%
9Telecommunications1.1%
Asset type
1UK Equities100%
Individual holdings
1DECHRA PHARMACEUTICALS2.9%
2FDM GROUP PLC2.7%
3COATS GROUP PLC2.6%
4CVS CAREMARK CORP2.6%
5JOHNSON SERVICE GROUP PLC2.3%
6CLINIGEN GROUP PLC2.2%
7JD SPORTS FASHION PLC2.2%
8SAFESTORE HLDGS PLC2.1%
9SANNE GROUP PLC2.1%
Management
Fund manager group
Invesco Perpetual
Fund manager company
Invesco Asset Management
Fund type
Investment Trust
Fund objective
The Company’s investment objective is to achieve long-term total return for shareholders primarily by investment in a broad cross-section of small to medium sized UK quoted companies.
Benchmark
  • Numis Smaller Companies Excluding Investment Companies
Investment style
Growth
Investment method
No data available.
Fund managers
NameSinceBiography
Jonathan Brown31/05/2002Based in Henley-on-Thames, Jonathan is responsible for the management of a number of UK small cap portfolios. Jonathan began his investment career with Lazard Asset Management in 1997, where he specialised in private client fund administration, before joining our company within a similar role in 2000. In 2004 Jonathan joined our UK Equities team as a trainee fund manager and, after three years specialising in the UK small cap sector, became a fund manager in his own right. Jonathan graduated with a BSc in Bio-Chemistry from UMIST and has also secured both the Investment Management Certificate from the CFA Society of the UK and the Securities Institute Diploma.
Robin West31/03/2015Robin joined Aviva Investors in 2004 as a fund manager in the UK Equities team. He joined from Oriel Securities where he worked as a small companies analyst. Previously he spent eight years as a smaller companies fund manager at Invesco and five years at KPMG working on audit and special assignments. Robin has a MA in Natural Sciences from Cambridge University. He has the following professional qualifications: Associate of the Institute of Chartered Accountants (ACA), Investment Management Certificate (IMC) and Chartered Financial Analyst (CFA).
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Invesco Perpetual UK Smaller Companies plc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price498.91
CurrencyGBX
Price updated19/07/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNLIN
Invesco Perpetual UK Smaller Companies plc NFV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price505.89
CurrencyGBX
Price updated19/07/2017
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBM5
Invesco Perpetual UK Smaller Companies plc NPV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price505.89
CurrencyGBX
Price updated19/07/2017
Type-
Institutional or retail classRetail
Domicile-
Citi codeEBM6
Data provided by

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