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United States : INVESCO fund begins with equity bias

May 20, 2014

Paul Causer, Veteran bond fund manager said Invesco Perpetual s new Global Distribution fund will start with a high allocation to equities.

The manager said the relative worth of equities against bonds was as good as I have ever seen it , especially in stocks that paid a dividend.

He said, That will be reflected in the global fund. We will start with a pretty toppy allocation to equities and I foresee us keeping that for some time.

In spite of being an international fund, the manager said he saw worth in the UK equity market and said the asset class would have a significant part to play .

Causer, who will run the international version of the existing multi-asset £2.8 billion distribution fund with Paul Read, co-head of fixed income and the firm s international equity income team, said he was not as comfortable taking the types of credit risk he had in his funds 18 month to two years ago.

Read and Causer launched their Financial Capital fund on the back of what they saw as absolute worth value in financial bonds and equities.

He said, In the bond space we still see value in financials but not the absolute value that we were talking about 18 months ago. This is relative value compared to other things of similar risk, as you can find things with marginally more income.

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Source: TendersInfo (India)

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