Invesco rolls out two Luxembourg-based European funds

Invesco has launched two European funds - the Euro Corporate Bond and the Continental European Absol...

Invesco has launched two European funds - the Euro Corporate Bond and the Continental European Absolute Return.

Both offerings are offshore sub-funds of Invesco Funds Umbrella, a Luxembourg investment company.

The Corporate Bond fund, co-managed by Paul Causer and Paul Read, is a euro-denominated, investment grade credit vehicle, which will be actively managed with an absolute risk/return focus.

It will be invested on a medium to long-term horizon focusing primarily on investment grade fixed and floating rate bonds, but will consider non-investment grade securities not exceeding 30% of the fund's net assets. The annual management charge is 1% with an initial charge of up to 5.25%.

Causer also co-manages the Continental European Absolute Return fund with Dominic Wallington, a European Equities fund manager at the group.

Wallington said the fund aims to provide long-term total return growth in excess of cash returns from an actively-managed, diversified portfolio investing primarily in Continental European equities, fixed interest securities and cash. There will be no restriction on exposure to particular asset classes, sector or country.

The annual management charge is 1% with an initial charge of 5.25%. The minimum investment is $2,500 (£1,439)

Wallington added: "We believe that an unconstrained multi-asset class approach, looking to generate returns through both top-down asset allocation and bottom-up security selection, should be able to deliver absolute returns in excess of cash under most market conditions with relatively low volatility."

key points

Invesco launches two European funds

Both are domiciled in Luxembourg

Paul Causer will co-manage both portfolios