Invesco Perpetual UK Smaller outperforms

IPU : Invesco Perpetual UK Smaller outperforms

Invesco Perpetual UK Smaller Companies interim results for the six months ended 31 July 2014 show the fund outperforming the Numis Smaller Companies ex Investment Companies Index over the period – it generated a total return on net assets of -1.6% vs. -2.9% for the index.

The Chairman reiterated comments he made in the Annual Report that they would consider a continuation vote at the AGM in 2017 or a rollover into another vehicle or a cash exit close to NAV – these measures are intended to help narrow the company’s discount.

The manager says the company benefitted from holdings in recruitment company, Staffline, (up 72%), veterinary service company, CVS, and Amerisur – a Colombian Oil & Gas company. On the downside consulting group, RPS, fell by 24% and Xaar halved after reporting lower growth in its end markets