Barnett removed from Perpetual Income and Growth Trust
Archived article: Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
"News that Mark Barnett and Invesco have been served notice on their management of the Perpetual Income & Growth Investment Trust does not come as too much of a surprise given the scale of the underperformance of the trust against the FTSE All Share over the past few years, however it will be a blow to Invesco having also lost the Edinburgh Investment Trust", says Ryan Hughes, Head of Active Portfolios at AJ Bell.
"It clearly was of little comfort to the Board that other value focused investment trusts have suffered even more in the recent sell off, while they also have clearly lost confidence in the manager’s ability to capitalise on any post-coronavirus bounce-back which will hopefully come once we emerge from the other side of this current crisis. The £400m trust will now be a highly prized opportunity for a range of UK equity managers, particularly when the assets of so many will have been hit hard by recent market falls."
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Ryan Hughes: Managing Director of AJ Bell Investments
Ryan Hughes is AJ Bell's Managing Director of AJ Bell Investments. He joined AJ Bell in 2016 as Head of Fund Selection before moving on to become Head of Investment Partnerships and later, Investments Director...
