Invesco launches Global Income trust for Boyne and McGraw

Invesco Perpetual plans to raise £100m for a Global Income trust run by managers Paul Boyne and Doug McGraw.

The trust will primarily invest in high-yielding stocks to act as a hedge against inflation, using bottom-up stock selection to create the portfolio. The vehicle will target a dividend of 3.5% per annum, which the managers will  look to grow by between 6-12% per year. Boyne and McGraw believe high-dividend yielding stocks offer a compelling value opportunity in either an inflationary or deflationary environment. The trust will have 50-70 holdings and will have a gearing limit of 20%. The managers take the view that with the economy recovering and inflation rising companies will ...