Invesco Asset Management has unveiled a new offshore feeder fund that invests into the Invesco Perpetual Income Fund.
Known as Invesco UK Equity Income Fund, the Luxembourg domiciled fund will allow investors outside of the UK to access Invesco Perpetual Income fund and has been launched under the UCITS IV directive.
The fund will be managed by Invesco’s head of UK equities Mark Barnett.
The ongoing charge for each share class of the feeder fund is similar to that of the equivalent share class in the master fund.
Nick Tolchard, managing director of Invesco’s international development division and head of Invesco Middle East said: "The fund has been launched in response to strong demand from overseas investors to access our market-leading UK equity income franchise which until now we have not been able to offer.
"A UCITS IV Master/feeder structure therefore provides us with a vehicle to broaden our distribution and give investors access to an established and market-leading investment team," he added.
The Invesco Perpetual Income fund was previously managed by Neil Woodford and currently has 8.7 billion in assets under management.
Recently, Invesco has launched an Indian bond fund to capture long-term growth in the developing country and also hard-closed the Japanese Equity Advantage fund.