Invesco ICVC UK Equity High Income (UK) Class Z Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
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 | -33.5% | 24.9% | 9.9% | 0.9% | 12.9% |
| Sector | -19.2% | 38.0% | 5.4% | -1.9% | 7.6% |
| Rank | 208/213 | 180/219 | 84/223 | 114/229 | 21/231 |
| Quartile | 4 | 4 | 2 | 2 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 7.8% | 0.8% | 2.2% | |
| Sector | 3.6% | 4.4% | 4.8% | |
| Rank | 52/223 | 202/213 | 182/186 | |
| Quartile | 1 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TOTAL SE | 5.37 |
| NEXT | 5.35 |
| RELX | 4.68 |
| BRITISH AMERICAN TOBACCO | 4.57 |
| BP | 4.19 |
| FERGUSON | 4.08 |
| BARCLAYS | 4.07 |
| SSE | 3.77 |
| PURETECH HEALTH | 3.68 |
| SHELL | 3.50 |
| Total | 43.27 |
Fund Aims
The Fund aims to achieve a high level of income (greater than the income return of the FTSE All Share Index) and capital growth over the long term (5 years plus).
Fund Manager
James joined the Henley Investment Centre's UK Equities team in August 2012 and was appointed manager of the UK equities portfolio of Invesco Perpetual Select Trust plc in October 2016.
He was subsequently appointed manager of the Keystone Investment Trust plc portfolio in April 2017 and also manages UK equity pension and pan-European equity mandates. Prior to joining Invesco, James was co-head of pan-European sales at Banco Espirito Santo in London. James began his career in pan-European equity sales at Credit Lyonnais in 2001 and went on, via HSBC and Dresdner Kleinwort, to specialise in UK equity sales
Ciaran joined the company in January 2005 and is part of the UK Equities team managing UK Equity portfolios. Ciaran began his investment career in 1994 joining HSBC where he worked as an investment analyst before moving to United Friendly Asset Management (UFAM) in 1999 as a fund manager. He holds a BA (Hons) Chemistry from Oxford University and has also gained the CFA and Securities Institute Diploma.
Fund Overview
| Mid (26/04/2024) | 218.15p |
| Historic yield | 3.94% |
| Fund size (31/01/2024) | £2332.78m |
| Number of holdings | 167 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.87% |
| Launch date | 11/12/2012 |
Asset Allocation
| UK Equities | 86.76% | |
| International Equities | 10.91% | |
| Property | 1.78% | |
| Money Market | 0.49% | |
| International Bonds | 0.02% | |
| Cash and Equivalents | 0.01% | |
| UK Corporate Bonds | 0.01% | |
| Other Assets | 0.02% |
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 | 86.76% | |
| International Equities | 10.91% | |
| Property | 1.78% | |
| Money Market | 0.49% | |
| International Bonds | 0.02% | |
| Cash and Equivalents | 0.01% | |
| UK Corporate Bonds | 0.01% | |
| Other Assets | 0.02% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 16.95% | - | - | - | |
| Insurance | - | 6.41% | - | - | |
| Life Insurance | - | - | 5.26% | - | |
| Life Insurance | - | - | - | 5.26% | |
| Non-life Insurance | - | - | 1.16% | - | |
| Property & Casualty Insurance | - | - | - | 1.16% | |
| Banks | - | 5.41% | - | - | |
| Banks | - | - | 5.41% | - | |
| Banks | - | - | - | 5.41% | |
| Financial Services | - | 5.14% | - | - | |
| Investment Banking & Brokerage Services | - | - | 3.98% | - | |
| Asset Managers & Custodians | - | - | - | 3.44% | |
| Diversified Financial Services | - | - | - | 0.55% | |
| Finance & Credit Services | - | - | 1.15% | - | |
| Financial Data & Systems | - | - | - | 1.15% | |
| Consumer Discretionary | 15.73% | - | - | - | |
| Retail | - | 6.31% | - | - | |
| Retailers | - | - | 6.31% | - | |
| Diversified Retailers | - | - | - | 5.35% | |
| Apparel Retailers | - | - | - | 0.96% | |
| Media | - | 4.68% | - | - | |
| Media | - | - | 4.68% | - | |
| Publishing | - | - | - | 4.68% | |
| Consumer Products & Services | - | 2.77% | - | - | |
| Consumer Services | - | - | 2.77% | - | |
| Vending & Catering Service | - | - | - | 2.77% | |
| Travel & Leisure | - | 1.97% | - | - | |
| Travel & Leisure | - | - | 1.97% | - | |
| Hotels & Motels | - | - | - | 1.97% | |
| Industrials | 13.74% | - | - | - | |
| Industrial Goods & Services | - | 10.88% | - | - | |
| Industrial Support Services | - | - | 5.87% | - | |
| Industrial Suppliers | - | - | - | 4.08% | |
| Professional Business Support Services | - | - | - | 1.79% | |
| General Industrials | - | - | 2.11% | - | |
| Diversified Industrials | - | - | - | 2.11% | |
| Aerospace & Defence | - | - | 1.83% | - | |
| Defense | - | - | - | 1.83% | |
| Industrial Transportation | - | - | 1.08% | - | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 1.08% | |
| Construction & Materials | - | 2.85% | - | - | |
| Construction & Materials | - | - | 2.85% | - | |
| Cement | - | - | - | 2.85% | |
| Utilities | 13.16% | - | - | - | |
| Utilities | - | 13.16% | - | - | |
| Gas, Water & Multi-utilities | - | - | 6.89% | - | |
| Multi-Utilities | - | - | - | 3.47% | |
| Water | - | - | - | 3.42% | |
| Electricity | - | - | 6.27% | - | |
| Conventional Electricity | - | - | - | 6.27% | |
| Energy | 13.06% | - | - | - | |
| Energy | - | 13.06% | - | - | |
| Non-Renewable Energy | - | - | 13.06% | - | |
| Integrated Oil & Gas | - | - | - | 13.06% | |
| Consumer Staples | 10.96% | - | - | - | |
| Food, Beverage & Tobacco | - | 6.04% | - | - | |
| Tobacco | - | - | 4.57% | - | |
| Tobacco | - | - | - | 4.57% | |
| Food Producers | - | - | 1.47% | - | |
| Food Products | - | - | - | 1.47% | |
| Personal Care, Drug & Grocery Stores | - | 4.92% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 4.92% | - | |
| Food Retailers & Wholesalers | - | - | - | 3.19% | |
| Nondurable Household Products | - | - | - | 1.73% | |
| Health Care | 6.21% | - | - | - | |
| Health Care | - | 6.21% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 4.71% | - | |
| Biotechnology | - | - | - | 3.68% | |
| Pharmaceuticals | - | - | - | 1.03% | |
| Medical Equipment & Services | - | - | 1.50% | - | |
| Medical Equipment | - | - | - | 1.50% | |
| Basic Materials | 5.48% | - | - | - | |
| Basic Resources | - | 4.82% | - | - | |
| Precious Metals & Mining | - | - | 2.68% | - | |
| Gold Mining | - | - | - | 2.68% | |
| Industrial Metals & Mining | - | - | 2.14% | - | |
| General Mining | - | - | - | 2.14% | |
| Chemicals | - | 0.66% | - | - | |
| Chemicals | - | - | 0.66% | - | |
| Chemicals: Diversified | - | - | - | 0.66% | |
| Non-Classified | 2.38% | - | - | - | |
| Real Estate | 1.78% | - | - | - | |
| Real Estate | - | 1.78% | - | - | |
| Real Estate Investment Trusts | - | - | 1.78% | - | |
| Residential REITs | - | - | - | 1.78% | |
| Cash and Equivalents | 0.50% | - | - | - | |
| Bonds | 0.03% | - | - | - | |
Regional Allocation
| UK | 86.77% | |
| Developed Europe - Excl UK | 8.23% | |
| North America | 2.68% | |
| Property | 1.78% | |
| Cash and Equivalents | 0.50% | |
| Non-Classified | 0.02% | |
| Australia & New Zealand | 0.01% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.97% | |
| Pound Sterling | 0.03% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 86.77% | - | |
United Kingdom
|
- | 86.77% | |
| Developed Europe - Excl UK | 8.23% | - | |
France
|
- | 5.37% | |
Ireland
|
- | 2.85% | |
| North America | 2.68% | - | |
Canada
|
- | 1.74% | |
United States
|
- | 0.94% | |
| Property | 1.78% | - | |
| Cash and Equivalents | 0.50% | - | |
| Non-Classified | 0.02% | - | |
| Australia & New Zealand | 0.01% | - | |
Australia
|
- | 0.01% | |
Breakdown By Market Cap (%)
| Mega |
|
51.24% |
| Large |
|
25.94% |
| Medium |
|
11.98% |
| Small |
|
3.98% |
| Micro |
|
0.71% |
| Non-Classified |
|
5.61% |
| Bonds |
|
0.03% |
| Cash |
|
0.50% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TOTAL SE | 5.37% | Non-Renewable Energy | France |
| 2 | NEXT | 5.35% | Retailers | United Kingdom |
| 3 | RELX | 4.68% | Media | United Kingdom |
| 4 | BRITISH AMERICAN TOBACCO | 4.57% | Tobacco | United Kingdom |
| 5 | BP | 4.19% | Non-Renewable Energy | United Kingdom |
| 6 | FERGUSON | 4.08% | Industrial Support Services | United Kingdom |
| 7 | BARCLAYS | 4.07% | Banks | United Kingdom |
| 8 | SSE | 3.77% | Electricity | United Kingdom |
| 9 | PURETECH HEALTH | 3.68% | Pharmaceuticals & Biotechnology | United Kingdom |
| 10 | SHELL | 3.50% | Non-Renewable Energy | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Financials | 16.95% | - | - | - | - | - | - | - | 16.95% |
| Real Estate | - | - | - | - | - | 1.78% | - | - | 1.78% |
| Consumer Discretionary | 15.73% | - | - | - | - | - | - | - | 15.73% |
| Consumer Staples | 10.96% | - | - | - | - | - | - | - | 10.96% |
| Energy | 7.69% | 5.37% | - | - | - | - | - | - | 13.06% |
| Utilities | 13.16% | - | - | - | - | - | - | - | 13.16% |
| Health Care | 6.21% | - | - | - | - | - | - | - | 6.21% |
| Industrials | 10.88% | 2.85% | - | - | - | - | - | - | 13.74% |
| Basic Materials | 2.80% | 2.68% | - | - | - | - | - | - | 5.48% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.01% | 0.01% |
| Bonds | - | - | 0.01% | 0.02% | - | - | - | - | 0.03% |
| Non-Classified | 2.36% | - | - | - | - | - | 0.02% | 0.49% | 2.87% |
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 | B8N46M8 |
| Mex Code | BRNCOM |
| Isin Code | GB00B8N46M88 |
| Citi Code | GUYB |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.87% |
Aims and Benchmark
| Aims | The Fund aims to achieve a high level of income (greater than the income return of the FTSE All Share Index) and capital growth over the long term (5 years plus). |
| 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 | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 28 February |
| 01 April | 31 May |
| 01 July | 31 August |
| 01 October | 30 November |
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. 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 | 4.28 |
| Beta | 0.87 |
| Sharpe | 0.39 |
| Standard Deviation | 11.07 |
| Info Ratio | 1.05 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | Yes |
| 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 | Yes |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | Yes |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
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.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
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.