Barnett removed from Perpetual Income and Growth Trust

Writer,

"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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Written by:
Ryan Hughes

Ryan Hughes is Head of Active Portfolios at AJ Bell. He has 20 years of experience in finance and investments and started his career working as a financial adviser before becoming an investment analyst and discretionary fund manager as well as twice being named one of the most influential financial advisers in the UK. In 2006, Ryan joined Skandia Investment Management as a fund manager, sitting on both the investment committee and global asset allocation committee before then joining Apollo Multi Asset in 2013. In October 2016, Ryan joined AJ Bell to help establish the investment research capability.