Invesco Perpetual is lining up a Global Targeted Returns fund which is expected to be managed by the team it hired from Standard Life Investments last year, Investment Adviser understands.
Full details of the fund, a UK-domiciled Oeic, will aim to achieve positive returns in all market conditions in a rolling three-year period, will invest in equities, equity related securities, debt securities and money-market instruments, are expected to be released on Monday.
The fund is expected to be run by David Millar, Dave Jubb and Richard Batty, which Invesco hired from Standard Life Investments last September to form a new multi-asset group.
At the time, Invesco said the team would form an “integral part” of its Henley investment team and will build on Invesco’s existing Atlanta-based global multi-asset capability.
Ian Trevers, head of distribution at the group, said when the team was hired that he was “convinced” that multi-asset funds were not a passing product fad.
“Being successful in the multi-asset space will be a requirement for businesses like us to be successful in the next decade,” he said. “We wanted to get this done properly and not quickly.”
Mr Trevers added at the time that the company would look to launch funds after summer 2013.