Invesco ICVC UK Opportunities (UK) Class Z Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | -21.2% | 39.5% | 27.3% | 5.4% | 6.5% |
| Sector | -19.2% | 38.0% | 5.4% | -1.9% | 7.6% |
| Rank | 154/213 | 78/219 | 1/223 | 14/229 | 164/231 |
| Quartile | 3 | 2 | 1 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 12.6% | 9.5% | 6.7% | |
| Sector | 3.6% | 4.4% | 4.8% | |
| Rank | 1/223 | 4/213 | 22/186 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| SHELL | 6.36 |
| BP | 6.17 |
| ASTRAZENECA | 4.69 |
| UNILEVER | 3.85 |
| IMPERIAL BRANDS | 3.76 |
| SANOFI | 3.65 |
| GSK | 3.41 |
| SSE | 3.25 |
| ROYAL BANK OF SCOTLAND GROUP | 3.21 |
| LLOYDS BANKING GROUP | 3.08 |
| Total | 41.43 |
Fund Aims
The Fund aims to achieve long-term (5 years plus) capital growth.The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in the UK. The Fund typically holds a concentrated portfolio of 35-45 stocks. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non UK companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash.
Fund Manager
Beth joined the Henley-based UK Equities team in February 2020 as an Analyst, having joined Invesco’s Finance & Corporate Strategy function in January 2019.
Previously she spent over 4 years at Ernst & Young, initially within Corporate Audit before moving into Transaction Advisory Services where she performed financial due diligence on deals in the TMT sector.
Beth is a qualified Chartered Accountant, holds the Investment Management Certificate from the CFA Society of the UK and graduated with a Bsc in Natural Sciences from Durham University.
Martin joined the company in 1999 as a trainee fund manager in the UK Equities team. Martin began his investment career in 1997 joining BWD Rensburg. On joining Invesco, he initially assisted Neil Woodford a part of the team managing UK equity funds. Since then Martin’s role has developed as he gained more experience, first as a trainee fund manager, and then becoming a fully fledged fund manager. Although Martin came to Invesco with previous experience as an investment analyst, he has very much come through the ranks of the Henley- based UK Equities team, absorbing its methodology and approach over the course of the last ten years. He holds a BA, Financial Economics from Liverpool University and has also attained the Securities Institute Diploma.
Fund Overview
| Mid (26/04/2024) | 422.16p |
| Historic yield | 3.14% |
| Fund size (31/01/2024) | £1234.87m |
| Number of holdings | 45 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
| Launch date | 11/12/2012 |
Asset Allocation
| UK Equities | 88.96% | |
| International Equities | 11.42% | |
| Cash and Equivalents | -0.38% |
Important Information
Source of portfolio data: Broadridge. 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.
Asset Allocation
| UK Equities | 88.96% | |
| International Equities | 11.42% | |
| Cash and Equivalents | -0.38% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Staples | 18.56% | - | - | - | |
| Food, Beverage & Tobacco | - | 9.92% | - | - | |
| Food Producers | - | - | 4.30% | - | |
| Food Products | - | - | - | 4.30% | |
| Tobacco | - | - | 3.76% | - | |
| Tobacco | - | - | - | 3.76% | |
| Beverages | - | - | 1.86% | - | |
| Soft Drinks | - | - | - | 1.86% | |
| Personal Care, Drug & Grocery Stores | - | 8.63% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 8.63% | - | |
| Personal Products | - | - | - | 3.85% | |
| Food Retailers & Wholesalers | - | - | - | 2.89% | |
| Nondurable Household Products | - | - | - | 1.89% | |
| Energy | 15.07% | - | - | - | |
| Energy | - | 15.07% | - | - | |
| Non-Renewable Energy | - | - | 15.07% | - | |
| Integrated Oil & Gas | - | - | - | 15.07% | |
| Financials | 14.64% | - | - | - | |
| Banks | - | 8.33% | - | - | |
| Banks | - | - | 8.33% | - | |
| Banks | - | - | - | 8.33% | |
| Insurance | - | 6.30% | - | - | |
| Life Insurance | - | - | 4.18% | - | |
| Life Insurance | - | - | - | 4.18% | |
| Non-life Insurance | - | - | 2.12% | - | |
| Full Line Insurance | - | - | - | 2.12% | |
| Health Care | 14.52% | - | - | - | |
| Health Care | - | 14.52% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 11.75% | - | |
| Pharmaceuticals | - | - | - | 11.75% | |
| Medical Equipment & Services | - | - | 1.54% | - | |
| Medical Equipment | - | - | - | 1.54% | |
| Health Care Providers | - | - | 1.24% | - | |
| Health Care Facilities | - | - | - | 1.24% | |
| Industrials | 11.51% | - | - | - | |
| Industrial Goods & Services | - | 10.25% | - | - | |
| Industrial Support Services | - | - | 4.49% | - | |
| Professional Business Support Services | - | - | - | 3.11% | |
| Business Training & Employment Agencies | - | - | - | 1.38% | |
| Aerospace & Defence | - | - | 4.42% | - | |
| Defense | - | - | - | 4.42% | |
| General Industrials | - | - | 1.35% | - | |
| Diversified Industrials | - | - | - | 1.35% | |
| Construction & Materials | - | 1.26% | - | - | |
| Construction & Materials | - | - | 1.26% | - | |
| Cement | - | - | - | 1.26% | |
| Utilities | 11.34% | - | - | - | |
| Utilities | - | 11.34% | - | - | |
| Electricity | - | - | 5.94% | - | |
| Conventional Electricity | - | - | - | 5.94% | |
| Gas, Water & Multi-utilities | - | - | 5.41% | - | |
| Multi-Utilities | - | - | - | 3.93% | |
| Water | - | - | - | 1.47% | |
| Basic Materials | 8.55% | - | - | - | |
| Basic Resources | - | 8.55% | - | - | |
| Industrial Metals & Mining | - | - | 4.59% | - | |
| General Mining | - | - | - | 4.59% | |
| Precious Metals & Mining | - | - | 3.97% | - | |
| Gold Mining | - | - | - | 3.97% | |
| Consumer Discretionary | 6.18% | - | - | - | |
| Travel & Leisure | - | 4.07% | - | - | |
| Travel & Leisure | - | - | 4.07% | - | |
| Hotels & Motels | - | - | - | 2.89% | |
| Restaurants & Bars | - | - | - | 1.18% | |
| Retail | - | 1.24% | - | - | |
| Retailers | - | - | 1.24% | - | |
| Diversified Retailers | - | - | - | 1.24% | |
| Media | - | 0.87% | - | - | |
| Media | - | - | 0.87% | - | |
| Radio & TV Broadcasters | - | - | - | 0.87% | |
| Cash and Equivalents | -0.38% | - | - | - | |
Regional Allocation
| UK | 88.96% | |
| Developed Europe - Excl UK | 7.45% | |
| North America | 3.97% | |
| Cash and Equivalents | -0.38% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.67% | |
| Cash | 0.31% | |
| Pound Sterling | 0.02% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 88.96% | - | |
United Kingdom
|
- | 88.96% | |
| Developed Europe - Excl UK | 7.45% | - | |
France
|
- | 6.19% | |
Ireland
|
- | 1.26% | |
| North America | 3.97% | - | |
Canada
|
- | 3.97% | |
| Cash and Equivalents | -0.38% | - | |
Breakdown By Market Cap (%)
| Mega |
|
48.61% |
| Large |
|
17.31% |
| Medium |
|
21.08% |
| Small |
|
1.24% |
| Non-Classified |
|
12.14% |
| Cash |
|
-0.38% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | SHELL | 6.36% | Non-Renewable Energy | United Kingdom |
| 2 | BP | 6.17% | Non-Renewable Energy | United Kingdom |
| 3 | ASTRAZENECA | 4.69% | Pharmaceuticals & Biotechnology | United Kingdom |
| 4 | UNILEVER | 3.85% | Personal Care, Drug & Grocery Stores | United Kingdom |
| 5 | IMPERIAL BRANDS | 3.76% | Tobacco | United Kingdom |
| 6 | SANOFI | 3.65% | Pharmaceuticals & Biotechnology | France |
| 7 | GSK | 3.41% | Pharmaceuticals & Biotechnology | United Kingdom |
| 8 | SSE | 3.25% | Electricity | United Kingdom |
| 9 | ROYAL BANK OF SCOTLAND GROUP | 3.21% | Banks | United Kingdom |
| 10 | LLOYDS BANKING GROUP | 3.08% | Banks | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Financials | 14.64% | - | - | - | - | - | - | - | 14.64% |
| Consumer Discretionary | 6.18% | - | - | - | - | - | - | - | 6.18% |
| Consumer Staples | 18.56% | - | - | - | - | - | - | - | 18.56% |
| Energy | 12.53% | 2.54% | - | - | - | - | - | - | 15.07% |
| Utilities | 11.34% | - | - | - | - | - | - | - | 11.34% |
| Health Care | 10.88% | 3.65% | - | - | - | - | - | - | 14.52% |
| Industrials | 10.25% | 1.26% | - | - | - | - | - | - | 11.51% |
| Basic Materials | 4.59% | 3.97% | - | - | - | - | - | - | 8.55% |
| Cash and Equivalents | - | - | - | - | - | - | - | -0.38% | -0.38% |
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 | B8N46T5 |
| Mex Code | BRROWT |
| Isin Code | GB00B8N46T57 |
| Citi Code | GUYH |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.86% |
Aims and Benchmark
| Aims | The Fund aims to achieve long-term (5 years plus) capital growth.The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in the UK. The Fund typically holds a concentrated portfolio of 35-45 stocks. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non UK companies), money-market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. |
| Benchmark | IA UK All Companies Sector |
| Benchmark Category | - |
| IA Sector | UK All Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 28 February |
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 | Citibank |
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. 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.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 9.28 |
| Beta | 0.83 |
| Sharpe | 0.76 |
| Standard Deviation | 12.08 |
| Info Ratio | 1.22 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | Yes |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
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.
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.
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.