Causer, Read, Butcher: Paul Causer has managed the fund since launch in March 2006, Paul Read since July 2008 and Stephanie Butcher since February 2012.
e-fundresearch.com: What is the current size of the fund?
e-fundresearch.com: Do you also manage other funds or mandates?
Causer, Read, Butcher: Yes, all three fund managers manage other funds and mandates.
e-fundresearch.com: What is the total amount of assets you manage currently?
Causer, Read, Butcher: Paul Causer and Paul Read are co-heads of Invesco Perpetual’s Fixed Interest team. The team has total assets under management of €24.4bn (31/12/2013).
Stephanie Butcher is a portfolio manager in Invesco Perpetual’s European Equity team. She is directly responsible for the management of €1.6bn of assets (31/12/2013).
e-fundresearch.com: How long have you been in the business as a fund manager?
Causer, Read, Butcher:
Paul Causer, Co-Head of Fixed Interest at Invesco Perpetual, began his investment career in 1984 and joined our company in 1994.
Paul Read, Co-Head of Fixed Interest at Invesco Perpetual, began his investment career in 1986 and joined our company in 1995.
Stephanie Butcher, European Equities Fund Manager at Invesco Perpetual,began her investment career in 1993 and joined our company in 2003.
e-fundresearch.com: What are the main steps in your investment process and in which area is your competitive edge to add value to investors?
Causer, Read, Butcher: Our team’s approach to investment management can be summarised as active, flexible and pragmatic, market and valuation driven, with a range of products that are designed to be managed through the market cycle. This philosophy and approach have shaped an investment process which comprises three key elements which drive portfolio construction – macroeconomic analysis, credit analysis and value assessment.
By combining equities and fixed income the Invesco Pan European High Income Fund can access what we believe to be the best opportunities for income and capital growth across Europe. The fund primarily invests in higher yielding European debt securities, but it also has the flexibility to put up to 30% in cash, money market instruments and equities. This allows the managers to reposition the fund through the market cycle.
e-fundresearch.com: Which benchmark is most relevant and how should investors compare the fund vs. benchmarks or peer groups?
Causer, Read, Butcher: The investment team does not manage the fund against a benchmark. We use the fund’s peer group, the Morningstar GIF OS EUR Cautious Allocation, for performance comparisons only.
e-fundresearch.com: Which performance did you achieve for the fund YTD and over the past five calendar years in absolute terms and relative to relevant benchmark or other reference indices?
Causer, Read, Butcher: The table below summarises the returns of the fund and its peer group over the past five calendar years.
e-fundresearch.com: What motivates you in your job?
Causer, Read, Butcher: Our business principles motivate us in our jobs here at Invesco Perpetual. Our main aim is to help investors worldwide to achieve their financial objectives.
Our principles allow us to stay motivated and focused on our goals:
- We are passionate about our clients' success
- We earn trust by acting with integrity
- People are the foundation of our success
- Working together, we achieve more
- We believe in the continuous pursuit of performance excellence
e-fundresearch.com: Thank you!
