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
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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 PLC8,942.00 GBP0.00Rating
BAE Systems PLC574.00 GBP0.00Rating
Edinburgh Investment Ord617.99 GBP-0.32Rating
GlaxoSmithKline PLC1,424.60 GBP0.00Rating
Imperial Brands PLC1,563.50 GBP0.00Rating
Invesco UK Eq High Inc UK Acc732.12 GBP0.46Rating
Invesco UK Equity Inc UK Inc1,303.96 GBP0.54Rating
Keystone Positive Change Investment Ord352.37 GBP3.33
LF Equity Income A Sterling Acc3.40 GBP0.00

About Author

Emma Wall  is former Senior International Editor for Morningstar