Invesco ICVC Global Bond (UK) Class Z Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | 7.2% | -4.0% | -5.9% | -1.9% | 3.6% |
| Sector | 5.2% | -1.2% | -8.8% | 1.4% | 6.5% |
| Rank | 20/74 | 75/80 | 22/87 | 78/89 | 80/91 |
| Quartile | 2 | 4 | 1 | 4 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | -1.4% | -0.3% | 1.5% | |
| Sector | -0.5% | 0.5% | 2.2% | |
| Rank | 54/87 | 50/74 | 26/46 | |
| Quartile | 3 | 3 | 3 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| 4¼% Treasury Gilt 2034 | 5.23 |
| UNITED STATES TREAS 4.000 FEB 15 34 | 4.40 |
| ¼% Treasury Gilt 2025 | 4.03 |
| AUSTRALIA(CMNWLTH) 1.750 NOV 21 32 | 3.88 |
| 1⅝% Treasury Gilt 2028 | 3.01 |
| MEXICO(UTD MEX ST) 7.750 MAY 29 31 | 2.65 |
| BRAZIL(FED REP OF) 10.000 JAN 01 27 | 2.61 |
| UNITED STATES TREAS 1.250 APR 15 28 | 2.24 |
| SPAIN(KINGDOM OF) 3.900 JUL 30 39 114 | 2.22 |
| SPAIN(KINGDOM OF) 0.000 JAN 31 27 | 2.15 |
| Total | 32.41 |
Fund Aims
The Fund aims to achieve income and capital growth over the medium to long term (3 to 5 years plus). The Fund invests at least 80% of its assets in debt securities (including investment grade, non-investment grade and unrated) issued by governments, supranational bodies, other public entities as well as by companies, globally. The Fund will take active currency positions globally.In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities, money market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash.
Fund Manager
Stuart joined the company in December 2003. Initially, he was the fixed income specialist within the firm's Investment Communication team and then transferred internally to the Fixed Interest team in January 2006 as a fixed income strategist, specialising in the analysis of macro economic data and trends. In March 2010 Stuart was promoted to the role of portfolio manager of the team’s cash portfolios, the Invesco Global Bond fund, and co-manager of the Invesco Global Bond fund with Michael Matthews. Previously, Stuart began his career in 1997 at Standard & Poor’s as an economist, initially specialising in analysis of the Benelux region and then covering the UK fixed income and money markets with responsibility for forecasting UK economic data and providing fixed income strategy. He holds a BSc (Hons) in Business Economics with Computing from the University of Surrey and a MSc in Finance from Birkbeck College, University of London.
Fund Overview
| Mid (20/12/2024) | 183.58p |
| Distribution yield | 3.15% |
| Underlying yield | 3.15% |
| Fund size (30/09/2024) | £147.09m |
| Number of holdings | 274 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.62% |
| Launch date | 11/12/2012 |
Asset Allocation
| International Bonds | 70.59% | |
| UK Gilts | 18.55% | |
| UK Corporate Bonds | 4.71% | |
| Cash and Equivalents | 2.91% | |
| Alternative Trading Strategies | 0.65% | |
| Money Market | 0.31% | |
| Other Assets | 2.28% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Bonds | 70.59% | |
| UK Gilts | 18.55% | |
| UK Corporate Bonds | 4.71% | |
| Cash and Equivalents | 2.91% | |
| Alternative Trading Strategies | 0.65% | |
| Money Market | 0.31% | |
| Other Assets | 2.28% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 93.85% | - | - | - | |
| Cash and Equivalents | 3.22% | - | - | - | |
| Non-Classified | 2.28% | - | - | - | |
| Alternative Trading Strategies | 0.65% | - | - | - | |
| Alternative Trading Strategies | - | 0.65% | - | - | |
| Alternative Trading Strategies | - | - | 0.65% | - | |
| Alternative Trading Strategies | - | - | - | 0.65% | |
Regional Allocation
| Developed Europe - Excl UK | 27.64% | |
| UK | 23.26% | |
| North America | 20.55% | |
| Non-Classified | 7.12% | |
| South & Central America | 6.29% | |
| Australia & New Zealand | 5.86% | |
| Cash and Equivalents | 3.22% | |
| Middle East & Africa | 2.68% | |
| Emerging Asia | 1.43% | |
| Other Regions | 1.92% |
Fixed Interest Currencies
| Pound Sterling | 35.35% | |
| US Dollar | 23.69% | |
| Euro | 22.51% | |
| Australian Dollar | 3.88% | |
| Non-Fixed Interest Assets | 3.23% | |
| Mexican Peso | 3.10% | |
| Other Currencies | 8.24% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 27.64% | - | |
France
|
- | 6.25% | |
Spain
|
- | 5.91% | |
Germany
|
- | 4.20% | |
Italy
|
- | 3.60% | |
Netherlands
|
- | 3.31% | |
Belgium
|
- | 1.92% | |
Switzerland
|
- | 1.12% | |
Luxembourg
|
- | 0.98% | |
Ireland
|
- | 0.36% | |
| UK | 23.26% | - | |
United Kingdom
|
- | 23.26% | |
| North America | 20.55% | - | |
United States
|
- | 19.96% | |
Canada
|
- | 0.60% | |
| Non-Classified | 7.12% | - | |
| South & Central America | 6.29% | - | |
Mexico
|
- | 3.68% | |
Brazil
|
- | 2.61% | |
| Australia & New Zealand | 5.86% | - | |
Australia
|
- | 5.86% | |
| Cash and Equivalents | 3.22% | - | |
| Middle East & Africa | 2.68% | - | |
South Africa
|
- | 1.94% | |
United Arab Emirates
|
- | 0.47% | |
Morocco
|
- | 0.27% | |
| Emerging Asia | 1.43% | - | |
Indonesia
|
- | 0.71% | |
South Korea
|
- | 0.49% | |
Malaysia
|
- | 0.23% | |
| Emerging Europe | 1.41% | - | |
Greece
|
- | 1.41% | |
| Japan | 0.51% | - | |
Japan
|
- | 0.51% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
38.31% |
| 5Yr - 10Yr Maturity |
|
31.44% |
| 10Yr - 15Yr Maturity |
|
5.00% |
| > 15Yr Maturity |
|
19.11% |
| Cash And Equivalents |
|
3.22% |
| Unknown Maturity |
|
2.28% |
| Other Asset Types |
|
0.65% |
Fixed Interest Quality Profile
| AAA |
|
18.57% |
| AA |
|
21.52% |
| A |
|
13.51% |
| BBB |
|
15.71% |
| Sub-Investment Grade |
|
7.94% |
| Unknown Quality |
|
16.60% |
| Cash and Equivalents |
|
3.22% |
| Other Asset Types |
|
2.92% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 4¼% Treasury Gilt 2034 | 5.23% | Bonds | United Kingdom |
| 2 | UNITED STATES TREAS 4.000 FEB 15 34 | 4.40% | Bonds | United States |
| 3 | ¼% Treasury Gilt 2025 | 4.03% | Bonds | United Kingdom |
| 4 | AUSTRALIA(CMNWLTH) 1.750 NOV 21 32 | 3.88% | Bonds | Australia |
| 5 | 1⅝% Treasury Gilt 2028 | 3.01% | Bonds | United Kingdom |
| 6 | MEXICO(UTD MEX ST) 7.750 MAY 29 31 | 2.65% | Bonds | Mexico |
| 7 | BRAZIL(FED REP OF) 10.000 JAN 01 27 | 2.61% | Bonds | Brazil |
| 8 | UNITED STATES TREAS 1.250 APR 15 28 | 2.24% | Bonds | United States |
| 9 | SPAIN(KINGDOM OF) 3.900 JUL 30 39 114 | 2.22% | Bonds | Spain |
| 10 | SPAIN(KINGDOM OF) 0.000 JAN 31 27 | 2.15% | Bonds | Spain |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B8N45G5 |
| Mex Code | BRYGHD |
| Isin Code | GB00B8N45G53 |
| Citi Code | GUWL |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.62% |
Aims and Benchmark
| Aims | The Fund aims to achieve income and capital growth over the medium to long term (3 to 5 years plus). The Fund invests at least 80% of its assets in debt securities (including investment grade, non-investment grade and unrated) issued by governments, supranational bodies, other public entities as well as by companies, globally. The Fund will take active currency positions globally.In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities, money market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. |
| Benchmark | IA Global Mixed Bond Sector |
| Benchmark Category | - |
| IA Sector | Global Mixed Bond |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Interest |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 May | 30 June |
| 01 November | 31 December |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Citibank |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Citibank |
Group Details
| Group name | Invesco ICVC |
| Group address | INVESCO Park Henley-on-Thames Oxfordshire RG9 1HH United Kingdom |
| Group telephone | 0800 028 2121 |
| Dealing telephone | 0800 085 8571 |
| Sally.Elsbury@Invesco.com | |
| Homepage | https://www.invesco.co.uk/uk |
| Fax number | 01491 416000 |
Dealing
| Minimum Investment | £500 |
| Minimum Top Up | £100 |
| Minimum Regular Saving | £20 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -0.22 |
| Beta | 0.91 |
| Sharpe | 0.00 |
| Standard Deviation | 5.66 |
| Info Ratio | -0.04 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | Yes |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
High Yield Bonds
The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Ethical Restrictions
The fund is unable to invest in certain sectors and companies due to the ethical criteria used to select investments for the fund.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.