The £1bn bid for Perpetual by Invesco's parent company Amvescap has created speculation over how the...
The £1bn bid for Perpetual by Invesco's parent company Amvescap has created speculation over how the funds will be run once the two groups have combined and how charges and IFA commission terms will be aligned.
The charging structure on the two groups' unit trust ranges are virtually identical, however Perpetual offers IFA commission of 5% on its range, whereas Invesco offers up to 3%. Both offer 0.5% renewal.
It is clear Invesco's unit trust range has the edge in performance over three years.
In the 12 Autif unit trust sectors where the groups both have funds with three-year track records up to 11 October, Invesco's are better performers in seven sectors while Perpetual has the performance edge in five sectors.
Invesco outperforms Perpetual in the Europe excluding UK, UK All Companies and UK Equity Income sectors.
Other Invesco funds which have outperformed their Perpetual peers over three years are in the Global Bond, Japan, North America and North American Smaller Companies sectors.
Over three years to 11 October, Invesco GT Income has returned 25.5%, offer to bid, compared to 20.3% for Perpetual High Income and 23.6% for Perpetual Income. In the Europe excluding UK sector, Invesco GT European Growth has posted returns of 123.2%, offer to bid, over the three years to 11 October, compared to 46% for Perpetual European Growth.
Perpetual has outperformed Invesco in UK Smaller Companies, UK Corporate Bond, Global Emerging Markets, Global Growth and Far East excluding Japan sectors.
Perpetual Corporate Bond has posted returns of 17.2%, offer to bid, in the three years to 11 October compared to a return of 10.8% for Invesco GT Corporate Bond over the same time period.
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