How Mark Barnett is Changing Invesco Perpetual High Income

Invesco Perpetual High Income manager Mark Barnett is selling off some of his largest holdings as he implements his own management style and deals with outflows

Emma Wall 7 August, 2014 | 1:40PM

Invesco Perpetual fund manager Mark Barnett runs a lot of cash. When taking over management of the Invesco Perpetual High Income, Invesco Perpetual Income and Edinburgh Trust (EDIN) from Neil Woodford earlier this year, Barnett boosted his book by £21 billion.

Barnett already ran Perpetual Income & Growth (PLI) and Keystone Investment Trust (KIT), responsibilities he has retained, boosting the total assets under the management of Barnett to a cool £22 billion.

The sheer size of these combined portfolios have led to Morningstar analysts downgrading Barnett’s open and closed-end funds, at least until he has proved capable of running such a large amount of money. Going from £1.1 billion responsibility to twenty times that takes some adjustment.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AstraZeneca PLC7,521.00 GBP0.00
BAE Systems PLC637.00 GBP0.00
Edinburgh Investment Ord600.01 GBP-0.33
GlaxoSmithKline PLC1,667.00 GBP0.00
Imperial Brands PLC1,803.20 GBP0.00
Invesco High Income UK Acc815.62 GBP-0.51
Invesco Income UK Inc1,516.53 GBP-0.49
Keystone Ord342.05 GBP-1.14
LF Woodford Equity Income A Sterling Acc20.22 GBP-1.02
Perpetual Income & Growth Ord323.50 GBP-0.31

About Author

Emma Wall  is former Senior International Editor for Morningstar

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