Invesco Perpetual UK Smaller Companies has an investment objective to achieve long-term total return for shareholders primarily by investment in a broad cross-section of small to medium sized UK quoted companies. The pursuit of income is of secondary importance. The portfolio primarily comprises shares traded on the London Stock Exchange, though it will also usually include a smaller proportion traded on AIM. The portfolio managers can also invest in unquoted securities, though these are limited to a maximum of 5% of gross assets at the time of acquisition.
The Manager seeks to outperform the benchmark index. As a result, the Manager’s approach can, and often does, result in significant overweight or underweight positions in individual stocks or sectors compared with the benchmark. Sector weightings are ultimately determined by stock selection decisions.