Morningstar has moved the Morningstar Analyst Rating for the Invesco Perpetual High Income and Invesco Perpetual Income funds to Bronze. Both funds previously held a Neutral rating. Morningstar has also initiated coverage of the Invesco Perpetual UK Strategic Income fund with a Bronze rating.
Invesco Perpetual High Income and Invesco Perpetual Income
Following a recent Morningstar Analyst Ratings Meeting, Morningstar has moved the Invesco Perpetual High Income and Invesco Perpetual Income funds to a Morningstar Analyst Rating of Bronze. The funds were previously rated Neutral. Mark Barnett took control of these two funds in March 2014 from Neil Woodford. Barnett broadly shares the same investment philosophy as Woodford.
He mixes a high-level macro overview with bottom-up stock-picking, has a long term focus and a contrarian style. Morningstar has a positive view of Barnett, bolstered by his strong track managing similar mandates such as Invesco Perpetual UK Strategic Income and the Perpetual Growth and Income investment trust. Morningstar has now seen evidence of his ability to cope with the considerable increase in assets under his management, and he has the support of a re-built UK team allowing the fund’s rating to move from Neutral to Bronze.
Invesco Perpetual UK Strategic Income
Following a recent Morningstar Analyst Ratings Meeting, Morningstar has initiated coverage of the Invesco Perpetual UK Strategic Income fund with a Morningstar Analyst Rating of Bronze. Mark Barnett has managed this fund since January 2006. Morningstar has a positive view of Barnett, bolstered by his strong track managing this fund and the Perpetual Growth and Income investment trust which he has run since 1996.
Barnett mixes a high-level macro overview with bottom-up stock-picking, has a long term focus and a contrarian style. Morningstar has now seen evidence of his ability to cope with the considerable increase in assets under his management after he took on Neil Woodford's former funds, and he has the support of a re-built UK team.