Invesco has relaunched the Invesco Global Equity Income trust (IGET), following board approval to pool in Invesco Select trust's four share classes and merge them into one global income portfolio.
The £203m trust will target capital growth and income, and includes a new 4% dividend target set by the board to focus on dependable income. In addition, the board has introduced a new discount policy and will consider share buybacks if the discount reaches 10%. The relaunch came after shareholders voted in favour of the changes in a meeting on 16 April. The vehicle will be managed by a team of ten people led by Stephen Anness, Invesco head of global equities. The team will pursue companies with a history of strong dividend yields, companies with low yields but clear per-share value ...
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