Archived article
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"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, Investments Director - AJ Bell Investments
Ryan started his career in 1999 working for an independent financial adviser, progressing to become Head of Portfolio Management at an award-winning advisory firm. Ryan then joined a global asset management firm as a Fund Manager, where he oversaw more than £10bn of multi-asset portfolios and also sat on the investment and global asset allocation committees. After seven years, Ryan joined a small multi-asset boutique managing portfolios for clients all around the world, before joining AJ Bell in 2016 to help establish our investment capability and overseeing all investment research for AJ Bell. In 2022, Ryan was appointed as Head of Investment Partnerships with responsibility for managing bespoke portfolios tailored to specific adviser needs and then in 2023, Ryan was made Investments Director with oversight of AJ Bell’s investment capability.
Ryan is a member of the CFA UK Society, is frequently asked for his views in the press and on panel debates while also being recognised as one of the leading fund researchers in the UK.