Invesco ICVC Global Targeted Returns (UK) Class Z Acc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
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Top 10 Holdings
| Stock | % Weight |
|---|---|
| MEXICO(UTD MEX ST) 7.750 MAY 29 31 | 8.15 |
| BRAZIL (FED REP OF) 10.000 JAN 01 31 | 6.16 |
| STH AFRICA(REP OF) 8.250 MAR 31 32 | 3.57 |
| UNITED STATES TREAS 0.125 FEB 15 24 | 0.67 |
| CAIXABANK SA FLTG 5.875 PERP REGS | 0.27 |
| AT&T INC 2.900 DEC 04 26 | 0.25 |
| DEUTSCHE BANK A G FLTG 6.000 PERPETUAL | 0.23 |
| VERIZON COMMUNICATIO 4.400 NOV 01 34 | 0.20 |
| PHOENIX GRP HLD PLC FLTG 5.750 PERP REGS | 0.19 |
| ⅛% Index-linked Treasury Gilt 2026 | 0.18 |
| Total | 19.86 |
Fund Aims
The Fund aims to achieve a positive total return in all market conditions over a rolling 3 year period. The Fund targets a gross return of 5% per annum above 3 month SONIA. The Fund aims to achieve this with less than half the volatility of global equities, over the same rolling 3 year period.
Fund Manager
Georgina is a Fund Manager within the Henley Investment Centre's Multi Asset team. Georgina joined our company in June 2013 as a Product Director and then went on to become Research Director in 2016. Georgina commenced her career with HSBC in 2001 as an Equity Strategist. She went on to join the Equity Strategy team at Goldman Sachs in 2004 where she wrote global equity and asset allocation research. Georgina gained asset management experience at Legal & General Investment Management, contributing to the overall asset allocation outlook for the firm and multi asset funds. Before joining Invesco Georgina was head of Equity Strategy, EMEA, at State Street Global Markets, producing and presenting on asset allocation and equity research. Georgina holds a BSc (Hons) in Economics from the University of Bath.
Sebastian Mackay joined Invesco in August 2016 and serves as a fund manager for the Multi Asset team. He began his career at Scottish Widows Investment Partnership in 2000, where he was a senior economist for the Fixed Interest team prior to joining the Aggregate Bonds team as an investment director. In 2011, Sebastian moved to Standard Life Investments, where he was an investment director for the Fixed Income team, before joining the Multi-Asset Investing team in 2014. Sebastian holds an MA (Hons) in Economics from the University of Edinburgh and an MSc in Financial Economics from the University of London, School of Oriental and African Studies
Gwilym Satchell joined the company in March 2013, and serves as a Fund Manager and a Risk Manager for the Multi Asset team. Prior to this, he commenced his career in 2008 at Standard Life Investments, where he was involved in Multi Asset risk management, in particular the development of scenario analysis techniques. In addition, he was responsible for managing a range of liability-driven investment (LDI) funds. He graduated from Warwick University in 2005 with a degree in Computer Science, and gained a Master’s degree at the University of Edinburgh Business School in 2008. Gwilym also holds the Professional Risk Manager (PRM) designation which is an independent validation of skills and commitment to the highest standard of professionalism, integrity, and best practices within the risk management profession.
Fund Overview
| Mid (08/03/2024) | 246.12p |
| Historic yield | 4.13% |
| Fund size (31/01/2024) | £187.91m |
| Number of holdings | 547 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
| Launch date | 09/09/2013 |
Asset Allocation
| Cash and Equivalents | 54.68% | |
| UK Corporate Bonds | 25.55% | |
| International Bonds | 20.35% | |
| Money Market | 8.01% | |
| Alternative Trading Strategies | 3.09% | |
| UK Gilts | 0.18% | |
| Other Assets | -11.86% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| Cash and Equivalents | 54.68% | |
| UK Corporate Bonds | 25.55% | |
| International Bonds | 20.35% | |
| Money Market | 8.01% | |
| Alternative Trading Strategies | 3.09% | |
| UK Gilts | 0.18% | |
| Other Assets | -11.86% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Cash and Equivalents | 62.69% | - | - | - | |
| Bonds | 46.07% | - | - | - | |
| Alternative Trading Strategies | 3.09% | - | - | - | |
| Alternative Trading Strategies | - | 3.09% | - | - | |
| Alternative Trading Strategies | - | - | 3.09% | - | |
| Alternative Trading Strategies | - | - | - | 3.09% | |
| Non-Classified | -11.86% | - | - | - | |
Regional Allocation
| Cash and Equivalents | 62.69% | |
| UK | 25.73% | |
| North America | 17.22% | |
| South & Central America | 14.31% | |
| Japan | 13.49% | |
| Middle East & Africa | 3.64% | |
| South & Central America | 3.35% | |
| Australia & New Zealand | 0.24% | |
| Developed Asia | 0.09% | |
| Other Regions | -40.78% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 53.88% | |
| Unrecognised | 13.82% | |
| US Dollar | 9.07% | |
| Mexican Peso | 8.15% | |
| Brazilian Real | 6.16% | |
| Rand | 3.64% | |
| Other Currencies | 5.28% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Cash and Equivalents | 62.69% | - | |
| UK | 25.73% | - | |
United Kingdom
|
- | 25.73% | |
| North America | 17.22% | - | |
United States
|
- | 16.69% | |
Canada
|
- | 0.53% | |
| South & Central America | 14.31% | - | |
Brazil
|
- | 9.51% | |
Mexico
|
- | 8.15% | |
| Japan | 13.49% | - | |
Japan
|
- | 13.49% | |
| Middle East & Africa | 3.64% | - | |
South Africa
|
- | 3.64% | |
| South & Central America | 3.35% | - | |
| Australia & New Zealand | 0.24% | - | |
Australia
|
- | -3.87% | |
| Developed Asia | 0.09% | - | |
Hong Kong
|
- | 0.09% | |
| Emerging Europe | 0.06% | - | |
Greece
|
- | 0.06% | |
| Australia & New Zealand | -4.11% | - | |
| Non-Classified | -8.36% | - | |
| Developed Europe - Excl UK | -11.84% | - | |
France
|
- | 0.87% | |
Spain
|
- | 0.75% | |
Netherlands
|
- | 0.66% | |
Luxembourg
|
- | 0.26% | |
Italy
|
- | 0.22% | |
Denmark
|
- | 0.15% | |
Austria
|
- | 0.08% | |
Germany
|
- | -14.82% | |
| Emerging Asia | -16.53% | - | |
China
|
- | -16.53% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
6.29% |
| 5Yr - 10Yr Maturity |
|
22.51% |
| 10Yr - 15Yr Maturity |
|
0.47% |
| > 15Yr Maturity |
|
16.81% |
| Cash And Equivalents |
|
62.69% |
| Unknown Maturity |
|
-11.86% |
| Other Asset Types |
|
3.09% |
Fixed Interest Quality Profile
| AAA |
|
10.01% |
| AA |
|
0.47% |
| A |
|
0.75% |
| BBB |
|
10.47% |
| Sub-Investment Grade |
|
11.10% |
| Unknown Quality |
|
13.28% |
| Cash and Equivalents |
|
62.69% |
| Other Asset Types |
|
-8.77% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | MEXICO(UTD MEX ST) 7.750 MAY 29 31 | 8.15% | Bonds | Mexico |
| 2 | BRAZIL (FED REP OF) 10.000 JAN 01 31 | 6.16% | Bonds | Brazil |
| 3 | STH AFRICA(REP OF) 8.250 MAR 31 32 | 3.57% | Bonds | South Africa |
| 4 | UNITED STATES TREAS 0.125 FEB 15 24 | 0.67% | Bonds | United States |
| 5 | CAIXABANK SA FLTG 5.875 PERP REGS | 0.27% | Bonds | Spain |
| 6 | AT&T INC 2.900 DEC 04 26 | 0.25% | Bonds | United States |
| 7 | DEUTSCHE BANK A G FLTG 6.000 PERPETUAL | 0.23% | Bonds | Germany |
| 8 | VERIZON COMMUNICATIO 4.400 NOV 01 34 | 0.20% | Bonds | United States |
| 9 | PHOENIX GRP HLD PLC FLTG 5.750 PERP REGS | 0.19% | Bonds | United Kingdom |
| 10 | ⅛% Index-linked Treasury Gilt 2026 | 0.18% | Bonds | United Kingdom |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B8CHD61 |
| Mex Code | BRETGL |
| Isin Code | GB00B8CHD613 |
| Citi Code | JF3E |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
Aims and Benchmark
| Aims | The Fund aims to achieve a positive total return in all market conditions over a rolling 3 year period. The Fund targets a gross return of 5% per annum above 3 month SONIA. The Fund aims to achieve this with less than half the volatility of global equities, over the same rolling 3 year period. |
| Benchmark | The Fund targets a gross return of 5% per annum above 3 month SONIA (ICE 3 month Term Sterling Overnight Index Average Reference Rate) over a rolling 3 year period. |
| Benchmark Category | - |
| IA Sector | Targeted Absolute Return |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £0.50 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | No income |
| Distribution Payment Basis | Net |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Citibank |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | The Bank of New York Mellon (International) Limited |
Group Details
| Group name | Invesco ICVC |
| Group address | INVESCO Park Henley-on-Thames Oxfordshire RG9 1HH United Kingdom |
| Group telephone | 0800 028 2121 |
| Dealing telephone | 0800 085 8571 |
| Sally.Elsbury@Invesco.com | |
| Homepage | https://www.invesco.co.uk/uk |
| Fax number | 01491 416000 |
Dealing
| Minimum Investment | £500 |
| Minimum Top Up | £100 |
| Minimum Regular Saving | £20 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 0.62 |
| Beta | 0.70 |
| Sharpe | 0.00 |
| Standard Deviation | 4.74 |
| Info Ratio | 0.00 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | Yes |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | Yes |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Geared Investments
The fund focuses on geared investments. Funds which focus on geared investments such as warrants or options carry a higher degree of risk than other equity investments because of the risk of the underlying investments. It is possible that the fund may suffer sudden and large falls in value so that the short fall on cancellation, or the loss of the realisation on the investment at any time after the investor has bought the contract, could be very high and could even equal the amount invested, in which case you would get nothing back.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Ethical Restrictions
The fund is unable to invest in certain sectors and companies due to the ethical criteria used to select investments for the fund.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.