The Invesco UK Equities team constantly seeks the best opportunities in the market and aims to deliver the best possible client outcomes. We offer a range of open-ended funds and investment trusts, which span the market cap spectrum.
Our UK equity capabilitiesThe UK has endured headwinds for several years – largely for geo-political reasons but also more recently during the pandemic. These are now abating and have created opportunities for investors at attractive valuations.
Put simply, we focus on the fundamentals of businesses, and seek to capitalise on market inefficiencies by buying stocks below their intrinsic value.
We seek to capitalise on market inefficiencies by buying stocks below their intrinsic value.
We take a long-term approach to investing but constantly re-evaluate our holdings to test our investment case.
Markets were relatively volatile during the quarter, with investors being pulled between the negatives of geopolitics and weaker industrial demand, and the potential benefit of lower interest rates.
Better inflation data prompted a strong start to the quarter, however, there was a sharp sell-off in August as positivity around interest rates was swamped by fears of a US recession. These fears gradually dissipated, and markets largely recovered by the end of the quarter.
In this video, fund manager Martin Walker discusses what has been happening in UK markets, economic news and recent fund performance, plus his outlook for UK equities.
UK equities present distinct and attractive opportunities for both domestic and global investors. Discover why they shouldn't be overlooked.
In this video recorded at a private investor conference, fund manager Robin West sets out why UK smaller companies deserve closer attention with insights on some of the extraordinary businesses in the portfolio.
Neville Pike, Product Director, UK Equities analyses the reasons behind why UK equity tracker funds have outperformed active managers and why the long-term outlook for UK active managers, relative to passive funds, remains especially attractive.
As economic growth stalls and fewer small and medium-sized businesses choose to list in the UK, we explore policy measures that could help provide a boost to the sector.
Fund manager, Ciaran Mallon believes the UK stock market has plenty of opportunities to find companies offering good and reliable dividends, plus world class businesses offering long term growth. Watch the video to learn more.
It’ll be a challenging backdrop for equities in 2024. From an investment perspective, company fundamentals are likely to become more important. Read our investment outlook for more.
Speakers:
Michael Joynson, Head of Market Insights
Martin Walker, Head of UK Equities
James Goldstone, Fund Manager
We have a collaborative approach to fundamental investment analysis and adhere to a structured and repeatable investment process. At the same time, each individual fund manager can bring their own unique perspective to the portfolios they manage. ESG issues and active engagement are integral to this approach.
The range of investment strategies and investment vehicles within our UK equity stable is designed to meet the varying requirements of investors.
| Asset class | Region | Focus | Managed by | |
|---|---|---|---|---|
| Invesco UK Equity High Income Fund (UK) |
Equities | UK | Income (Higher) | Ciaran Mallon & James Goldstone |
| Invesco UK Equity Income Fund (UK) |
Equities | UK | Income (Balanced) | Ciaran Mallon & James Goldstone |
| Invesco UK Opportunities Fund (UK) |
Equities | UK | Value | Martin Walker & Bethany Shard |
| Invesco Income & Growth Fund (UK) |
Equities | UK | Income & Capital Growth | Ciaran Mallon |
| Invesco UK Companies Fund (UK) | Equities | UK | Sustainable | Tim Marshall |
| Invesco UK Smaller Companies Equity Fund (UK) |
Equities | UK | Smaller Companies Growth | Jonathan Brown & Robin West |
| Invesco UK Enhanced Index Fund (UK)* |
Equities | UK | Capital Growth | Alexander Uhlmann & Georg Elsäesser |
| Asset class | Region | Focus | Managed by | |
|---|---|---|---|---|
| Invesco Select Trust Plc UK Equity Share Portfolio |
Equities | UK | Income & Capital Growth | Ciaran Mallon & James Goldstone |
| Invesco Perpetual UK Smaller Companies Investment Trust Plc |
Equities | UK | Smaller Companies Growth | Jonathan Brown & Robin West |
| Fund | Asset class | Region | Focus | Managed by |
|---|---|---|---|---|
| Invesco UK Equities Pension Fund | Equities | UK | All cap, Income & Capital Growth | James Goldstone |
| Invesco UK Smaller Companies Equities Pension Fund | Equities | UK | Smaller Companies Growth | Jonathan Brown |
| Asset class | Region | Focus | Managed by | |
|---|---|---|---|---|
| Invesco UK Equity Fund |
Equities | UK | Value | Martin Walker & Bethany Shard |
Keen to learn more? Visit our valuation opportunities page for:
Let us know using this form and one of our specialist team will quickly get back to you.
* The UK Enhanced Index Fund (UK) is not managed by the UK Team.
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
ICVCs
The funds may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the fund. The Manager, however, will ensure that the use of derivatives within the fund does not materially alter the overall risk profile of the fund. In the case of the Invesco UK Companies Fund (UK), such derivatives may not be aligned with the Fund’s ESG screening criteria.
The Invesco UK Opportunities Fund (UK) typically has a concentrated number of holdings, it may carry a higher degree of risk than a fund which invests in a broader range of holdings or takes smaller positions in a relatively large number of holdings.
The Invesco UK Smaller Companies Equity Fund (UK), Invesco Income & Growth Fund (UK), Invesco UK Equity Income Fund (UK) and Invesco UK Equity High Income Fund (UK) invest in smaller companies which may result in a higher level of risk than a fund that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.
The Invesco UK Equity High Income Fund (UK) and Invesco UK Equity Income Fund (UK) may invest in private and unlisted equities which may involve additional risks such as lack of liquidity and concentrated ownership. These investments may result in greater fluctuations of the value of the fund. The Manager, however, will ensure that any investments in private and unlisted equities do not materially alter the overall risk profile of the fund.
As one of the key objectives of the Invesco UK Equity High Income Fund (UK), Invesco UK Equity Income Fund (UK) and Invesco Income & Growth Fund (UK) funds is to provide income, the ongoing charge is taken from capital rather than income. This can erode capital and reduce the potential for capital growth.
The use of ESG criteria may affect the investment performance and the Invesco UK Companies Fund (UK). As such, it may perform differently to similar products that do not screen investment opportunities against ESG criteria.
Investment trust
The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
The products use derivatives for efficient portfolio management which may result in increased volatility in the NAV.
The products invest in smaller companies which may result in a higher level of risk than a product that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.
Pension funds
Investing in equity securities involves risks associated with the unpredictable drops in a stock’s value or periods of below-average performance in a given stock or in the stock market as a whole. Share prices on equity markets may fluctuate. Such fluctuations, or volatility, have historically been much greater for equity markets than the volatility of fixed income markets.
The UK Equities Pension Fund and the Invesco UK Smaller Companies Equity Pension Fund invest in smaller companies which may result in a higher level of risk than a fund that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.
Please note the following when investing in the UK Smaller Companies Equity Pension Fund. Where a fund invests across a range of funds with a view to diversifying risk and potential returns, each of these underlying funds may have specific risks. Examples include: emerging market funds, smaller company funds and concentrated funds.
Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.
For the most up to date information on our ICVC funds, please refer to the relevant fund and share class-specific Key Investor Information Documents, the Supplementary Information Document, the Annual or Interim Reports and the Prospectus, which are available using the contact details shown.
For more information on our SICAV funds, please refer to the most up to date relevant fund and share class-specific Key Investor Information Documents, the latest Annual or Interim Reports and the latest Prospectus, and constituent documents, available from www.invesco.eu. A summary of investor rights is available in English from www.invescomanagementcompany.lu. The management company may terminate marketing arrangements. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. As with all investments, there are associated risks. This document is by way of information only. Asset management services are provided by Invesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictions where its promotion and sale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not all share classes are the same nor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependent on share class chosen. Please check the most recent version of the fund prospectus in relation to the criteria for the individual share classes and contact your local Invesco office for full details of the fund registration status in your jurisdiction. The Invesco UK Equity Fund is domiciled in Luxembourg. For the purposes of UK law, the fund is a recognised scheme under section 264 of the Financial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do not apply to offshore investments.
For more information on the pension funds, please refer to the most up-to-date Invesco Trustee Investment Plan Brochure and Key Features Document, and to the fund’s Key Information Document. These documents are available on the Invesco Pensions Website: www.invesco.co.uk/pensions.
For more information on our investment trust, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. This information is available using the contact details shown.
This material should not be considered financial advice. Persons interested in acquiring the products should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences.
Issued by Invesco Pensions Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
