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Invesco High Income Inclusive - Income (GBP)

Sell:268.23p Buy:268.23p Change: 1.96p (0.74%)
Prices as at 27 March 2020
Change: 1.96p (0.74%)
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
Prices as at 27 March 2020
Change: 1.96p (0.74%)
Prices as at 27 March 2020
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on our Wealth 50 list of what we believe are the best funds in each sector. If a fund is not within our Wealth 50 this is not necessarily a recommendation to sell. However, if you are thinking of adding to your investments, we believe the Wealth 50 is a good place to start. View funds on the Wealth 50 »

Mark Barnett has managed equity income funds since 1999 and over that time he's gained lots of experience. He combines his views on the economy with his views on individual companies and invests in the ones he thinks are destined for success.

Barnett is a genuinely active fund manager. He invests this fund quite differently from other UK income funds. This means performance will be different, but over the long term it could help deliver good returns. The reverse is also true though.

We think the manager has the potential to do a good job over the long term. But there are lots of talented fund managers investing in the UK for income and we think there are superior alternatives. Our favourites feature on the Wealth 50.

Our view on the sector

The UK stock market is home to lots of world-class companies. From international giants to a diverse array of smaller businesses. This provides a rich hunting ground for fund managers in this sector. They all try to grow investors' money over the long term, but each goes about it in a different way. Some focus on larger companies in the FTSE 100 index, others invest in medium-sized or smaller companies, and some have the flexibility to invest in any company, regardless of size. Some aim to match or deliver a return similar to the broader UK stock market. Others have the freedom to try and make as much money as possible for investors and take more risks. That could mean investing in only a small number of companies, for instance. A fund that invests in UK shares is normally the first port of call for UK-based investors. But with such a variety on offer, investors should make sure a fund is right for their circumstances before investing.

Performance Analysis

Mark Barnett's delivered reasonable returns over the long run, though performance has lagged the broader UK stock market in recent years.

The manager's increased investments in domestic companies that make most of their money in the UK. He thinks they offer more value than those that sell more of their goods and services overseas. They've remained out of favour though and this held performance back. Past performance isn't a guide to future returns.

Investment Philosophy

Mark Barnett focuses on unloved, but financially strong companies. He invests when their share prices and valuations are low, then waits patiently for the business to improve or the sector to return to favour. He also likes companies with the ability to grow their earnings, which could translate into a rising dividend.

Process and Portfolio Construction

The manager looks at trends in the wider economy and aims to identify the sectors that will benefit. He then invests in the companies in these sectors he thinks have the most potential. They must also have the ability to grow earnings, and dividends, over the long term.

He spends time meeting and getting to know the managers of the businesses he invests in because they could have a significant impact on their success.

Barnett has the flexibility to invest in companies of all sizes across the UK, including higher-risk smaller ones. He also uses part of his freedom to invest up to 20% of the fund in overseas companies.

question mark Manager Track Record Based on HL Quantitative Research

  • Invesco High Income (UK) Acc
  • Invesco UK Strategic Income (UK)...
  • FTSE All-Share TR

Fund Track Record

27/03/15 to 27/03/16 27/03/16 to 27/03/17 27/03/17 to 27/03/18 27/03/18 to 27/03/19 27/03/19 to 27/03/20
Annual return -2.27% 10.30% -6.84% -1.02% -30.60%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Invesco is one of the largest investment managers in the UK and they believe there are no short cuts to long-term investment success. They offer a large range of funds across a number of sectors and each follows a clear, disciplined investment process. The company has a particularly strong reputation for their UK equity and fixed interest funds.

Information about the fund

Fund manager biography

manager photo
Manager Name: Mark Barnett
Manager start date: 6 March 2014
Manager located in: Henley

Mark joined the company in 1996 as a fund manager in the UK Equities team. Mark began his investment career in 1992 with Mercury Asset Management before joining Invesco. He holds a BA, French & Politics from the University of Reading in 1992 and has passed the associate examinations of the Association for Investment Management and Research (AIMR). .

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account