To achieve capital growth at a higher rate than the FTSE All-Share Index and dividend growth above the UK rate of inflation. The Company will generally invest in companies quoted on a recognised stock exchange in the UK. The Company may also invest up to 20% of the market value of the Company's investment portfolio, measured at the time of any acquisition, in securities listed on stock exchanges outside the UK. The portfolio is selected by the Manager on the basis of its assessment of the fundamental value available in individual securities.
Invesco Asset Management is entitled to a management fee which will be 0.55% of the Funds market capitalisation. The management fee is payable monthly in arrears. No performance fee is payable. The management agreement provides for three months notice of termination.
To achieve an above-inflation increases in dividend pay-outs. Dividends on Ordinary shares are payable quarterly, in November, February, May and July of each financial year. Interest on 11.5% Debenture Stock is payable semi-annually, on 30 June & 31 December. Interest on 7.75% Debenture Stock is payable semi-annually, in March and September.