INVESCO Perpetual is to convert its UK Key Trends fund to a best ideas style vehicle, changing the name to UK Focus.
The move is among a number of planned developments that will also see the £15m UK Key Trends portfolio, Neil Woodford’s £4bn Invesco Perpetual Income fund and the £230m Invesco Perpetual UK Equity fund moved to a new fund umbrella. Invesco said the reason for the change was because the overarching structure of the fund – an investment company with variable capital or ICVC – has regulatory limits on the amount that can be invested in any one company, currently 20pc. There are nine funds in the ICVC and Invesco said by moving three into a new structure, to be called UK 2 Investment Seri...
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