Hedge pool provides best returns on Invesco Perpetual Select trust

Invesco Perpetual Select's board has admitted its discount controls mean shares are not the cheapest...

Invesco Perpetual Select's board has admitted its discount controls mean shares are not the cheapest in the market but believes its structure compensates for this. It converted from Merrill Lynch Asset Allocator last year and offers four separate pools of assets, with UK equities, global equities and liquidity run by Invesco Perpetual and fund of hedge funds by Fauchier Partners. Of the four, the hedge fund portfolio produced the best return over 12 months to end March, benefiting from investments that took advantage of the collapse in the US housing loan market and increased volatility...