Fourth Invesco fund to exit IA UK Equity Income sector

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Invesco Perpetual's £600m Income & Growth fund is to move out of the Investment Association's UK Equity Income sector this Friday (27 February) after failing to meet the trade body's yield requirements.

The fund, run by Ciaran Mallon (pictured), is the fourth Invesco Perpetual portfolio to move from the UK Equity Income sector to the UK All Companies sector over the past 12 months, following in the footsteps of Mark Barnett’s High Income, Income and UK Strategic Income funds last year. All four funds have been moved because they failed to meet income sector requirements which stipulate funds must have a yield in excess of 110% of the FTSE All Share yield over a rolling three-year period. Two St James’s Place funds, James Henderson’s Henderson UK Equity Income fund and the JPM UK Stra...

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