IVI Invesco Income Growth Trust Plc

 
TIDMIVPU TIDMIVI 
 
Invesco Perpetual Select Trust plc ("IVP") 
                           LEI: 549300JZQ39WJPD7U596 
 
      Update re combination with Invesco Income Growth Trust plc ("IVI") 
 
In the announcement made on 1 December 2020 in respect of the proposed 
combination of IVI with the UK Equity share class of IVP (the "Transaction"), 
it was proposed that Ciaran Mallon, the current portfolio manager of IVI would 
be appointed to manage IVP's UK Equity Portfolio ("IVPU") following completion 
of the Transaction. 
 
However, subsequent to the announcement, the Boards of IVP and IVI invited 
Invesco to consider the appointment of James Goldstone, the manager of IVPU, 
alongside Ciaran Mallon as joint managers of the enlarged UK Equity portfolio. 
Ciaran and James are the joint managers of Invesco's largest UK Equity UCITS 
funds, having been appointed in May 2020, and have started to build an 
encouraging performance record. 
 
Accordingly Invesco presented a joint manager proposition for the enlarged IVPU 
portfolio to the combined Boards of IVP and IVI. After due consideration and 
discussion, it was agreed that Ciaran and James be confirmed as joint managers 
of IVPU upon completion of the Transaction. Both Boards believe that the two 
managers' combined and complementary skills, with a disciplined investment 
process, can deliver attractive returns for shareholders. 
 
The substantial UCITS funds, where the managers' stock selection has been 
limited to larger, more liquid investments, have outperformed their benchmark 
since Ciaran and James were appointed. The smaller IVPU portfolio, held in an 
investment trust, will give the managers freedom to invest across the size and 
liquidity spectrum and to offer the prospect of a genuine 'best ideas' 
portfolio, clearly distinguished from their open-ended funds. 
 
A circular and prospectus relating to the Transaction will be posted to 
shareholders in due course. 
 
5 February 2021 
 
Enquiries: 
 
Invesco Asset Management Limited          +44 (0) 20 3753 1000 
Angus Pottinger 
Will Ellis 
 
Investec Bank plc                                         +44 (0) 20 7597 4000 
David Yovichic 
Tom Skinner 
Denis Flanagan 
 
 
 
END 
 
 

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February 08, 2021 02:00 ET (07:00 GMT)

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