Invesco Perpetual Select Trust - UK Equity Share

Page 1 of 2 | Morningstar Factsheets | All data as at 05 Feb 2015 unless stated otherwise
Invesco Perpetual Select Trust - UK Equity Share Portfolio
Morningstar Peer Group Classification
UK All Companies
IVPU
Total Return Performance (GBP) over 5 years (or since inception)
Investment Objective
To provide shareholders with an attractive real long-term total return by
investing primarily in UK quoted equities.
Valuation statistics (NAVs estimated1) GBX
05 Feb 2015
Price
159.00
Fair Cum NAV
164.74
Fair Ex NAV
165.08
Par Cum NAV
164.74
Par Ex NAV
165.40
Fair Cum Discount
-3.49
Fair Ex Discount
-3.68
Par Cum Discount
-3.49
Par Ex Discount
-3.87
Peer Group Discount
-10.25
-1.85
Z-Statistic2
12 m High
161.50
Low
143.00
166.30
143.86
+3.42
-4.78
Last Actual NAVs (GBX) as at 04 Feb 2015
Fair Cum NAV
165.12
Fair Ex NAV
165.46
Par Cum NAV
165.12
Par Ex NAV
165.46
Key Data
Domicile
Launch Date
Financial Year-end
Exchange
Next AGM
NAV Frequency
Dividend Frequency
Total Assets (GBP)
Net Assets (GBP)
Shares Outstanding
Gross Gearing3
Net Gearing4
Average Daily Shares Traded (1yr)
Average Daily Value Traded (1yr)
Total Expense Ratio5 (2014)
Market Capitalisation (GBP)
Net Dividend Yield6
UK
23 Nov 2006
31 May
London (LSE)
Sep 2015
Daily
Quarterly
75.3m
65.5m
39,610,257
115
116
0.010m
0.024m
1.08%
63.0m
3.33%
Performance (Total Return %)8 GBP
1 month 3 months
Price
+3.19
+5.05
NAV
+6.72
+7.29
Peer Group (Price)
+4.35
+4.02
Peer Group (NAV)
+4.10
+6.47
Benchmark
+6.61
+5.90
6 months
+5.82
+12.29
+4.45
+6.75
+5.16
1 year
+11.75
+17.52
+0.59
+6.27
+9.91
YTD
+3.19
+5.44
+3.06
+3.36
+4.49
3 years
+93.74
+79.72
+55.25
+51.42
+34.39
5 years
+140.05
+139.05
+89.65
+88.62
+68.29
Peer Group: Morningstar IT UK Growth P
Morningstar Benchmark: FTSE All-Share Index
Fund distributions reinvested on ex-dividend date8
Dividend Yields over 5 years (or since inception)
Dividend Policy
The fund intends to pay quarterly dividends
Year-on-Year Dividend Growth % (financial year 31 May)
2015
0.00
2014
-4.50
2013
30.59
2012
1.19
2011
10.53
Distributions (GBP) over 5 years (or since inception)
Dividend Growth % (annualised on current financial year)7
1 year
0.00
2 years
-2.28
3 years
7.64
4 years
5.99
5 years
6.88
Directors
Patrick Gifford (Chairman), Sir Michael Bunbury, Alan Clifton, David Rosier
Fund Manager: Mark Barnett (23 Nov 2006)
INVESCO Asset Management
6th Floor, 125 London Wall, London, UK, EC2Y 5AS
Telephone: +44 (0)800 085 8677
Website: www.invescoperpetual.co.uk/investmenttrusts
Stockbroker: Canaccord Genuity Limited
Management Fee Summary
Management fee 0.65% p.a. of net assets. Performance fee 12.5% of the
increase in net assets per relevant share in excess of a hurdle of the
benchmark plus 1% per annum. The amount of the performance fee
payable in any one year will be limited to 0.65%. Contract terminable on 12
months notice.
Latest Dividend History (GBp)
Type
Income
Income
Income
Income
Income
Income
Income
Income
Income
Income
Income
Income
Dividend Declared Date
1.200
15 Jan 15
1.300
16 Oct 14
1.000
16 Jul 14
2.450
15 Apr 14
15 Jan 14
0.900
17 Oct 13
1.100
18 Jul 13
0.850
17 Apr 13
2.450
17 Jan 13
0.950
18 Oct 12
1.000
19 Jul 12
1.150
18 Apr 12
1.400
Ex Div Date
22 Jan 15
23 Oct 14
23 Jul 14
23 Apr 14
22 Jan 14
23 Oct 13
24 Jul 13
24 Apr 13
23 Jan 13
24 Oct 12
25 Jul 12
25 Apr 12
Record Date
23 Jan 15
24 Oct 14
25 Jul 14
25 Apr 14
24 Jan 14
25 Oct 13
26 Jul 13
26 Apr 13
25 Jan 13
26 Oct 12
27 Jul 12
27 Apr 12
Payment Date
13 Feb 15
14 Nov 14
15 Aug 14
16 May 14
17 Feb 14
15 Nov 13
16 Aug 13
17 May 13
15 Feb 13
16 Nov 12
17 Aug 12
18 May 12
Initial Public Offering
at 1.00 GBP on 23 Nov 2006
The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages
are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any
kind arising out of the use of all or part of these factbook pages.
Financial Year
2015
2015
2015
2014
2014
2014
2014
2013
2013
2013
2013
2012
Page 2 of 2 | Morningstar Factsheets | All data as at 05 Feb 2015 unless stated otherwise
Invesco Perpetual Select Trust - UK Equity Share Portfolio
IVPU
Risk & Return9
Discrete Monthly Price & NAV Total Return % (GBP)
Sector Breakdown (%)
Discrete Yearly Price & NAV Total Return % (GBP)
Geographic Breakdown (%)
Risk & Correlation
Alpha (NAV) 11
Beta (NAV)12
R-squared (NAV)13
Sharpe (NAV)14
Price Volatility15
NAV Volatility15
Benchmark Volatility15
Peer Group Price Volatility15
Peer Group NAV Volatility15
3 months
0.03
0.85
0.82
2.02
8
14
15
10
11
6 months
0.06
0.86
0.84
1.79
9
12
13
11
11
1 year
0.73
0.88
0.82
1.73
7
12
11
10
11
3 years
0.85
0.97
0.86
1.90
8
12
12
11
12
5 years
0.75
0.82
0.76
1.46
12
13
15
13
14
Additional Performance (Total Return%8) GBX
Largest Holdings (% Portfolio10) as at 31 Dec 2014
British American Tobacco
Reynolds American, Inc.
Imperial Tobacco Plc
British Telecom Group PLC
AstraZeneca
Bae Systems Plc
Roche Holding AG
GlaxoSmithKline Plc
Btg PLC
Legal & General Plc
Total
Capital Structure
Number of Shares
39,610,257
6,523,000
Loan CCY
GBP
4.6%
4.6%
4.5%
4.3%
4.2%
3.8%
3.6%
2.7%
2.6%
2.6%
37.2%
Share Type
Ord 1p
Treasury Shares
£m
9.8
Redemption
Coupon
1.325%
Price
+3.19
+10.54
+35.07
+26.92
+2.26
+17.90
+231.37
+119.84
+118.57
NAV Peer Price
+5.44
+3.06
+9.09
-3.06
+39.77
+37.61
+15.50
+23.98
+7.92
-13.56
+16.40
+23.68
+227.62
+193.82
+116.75
+70.85
+110.13
+57.53
Peer NAV Benchmark
+3.36
+4.49
+1.27
+1.18
+31.08
+20.81
+21.76
+12.30
-10.80
-3.46
+22.06
+14.51
+188.17
+153.86
+68.69
+49.61
+55.34
+38.25
Wind-up Provisions/Buy Back Policy
The Trust has an unlimited life. Shares will be convertible at the option of the holder into other share classes on or
around 1 February, 1 May, 1 August and 1 November each year. Ten days notice is required ahead of each
conversion. The Directors have the authority to repurchase up to 14.99% of the issued share capital of the Company.
Renewal of this authority will be sought annually at each AGM. The Trust may hold any shares bought-back in
Treasury. On 31-Jan-13, the Company adopted a zero tolerance discount policy and will offer or purchase shares in
any of the Companys share classes with a view to maintaining the middle market price at which a share trades on
the LSE at close to its most recently published NAV.
Net Dividend Yield – This is calculated by dividing the current financial years dividends (this will include prospective dividends) by the current price.
Dividend Growth – The annualised percentage growth in dividends. Based upon the current financial year, including any future estimates or forecasts.
Performance – Calculated using start and end period Share Prices or NAV Dividends are reinvested on the ex-dividend date at the prevailing Share Price or NAV.
Risk & Return – 1 Year ex income par NAV total return performance against 1 Year NAV volatility. Please see notes 8 and 15 for performance and volatility definitions
respectively.
2
10 Portfolio – In order to calculate the portfolio value we deduct any holdings in cash only (Note that Fixed Interest is not included).
11 Alpha – The difference between the fund’s average excess total return and the benchmark’s average excess total return.
3
12 Beta – The sensitivity of the fund to broad market movements. A Beta of 0.5 would imply the fund will move by half as much as the index.
4
13 R-squared – A measure of correlation between the fund and index. A value of 0.8 means that 80% of the fund’s NAV changes can be explained by changes in the index.
14 Sharpe – A risk-adjusted return measure, calculated by dividing the fund’s average monthly excess total return over the risk-free rate by the standard deviation of those returns.
5
The figure shown is the annualized Sharpe Ratio.
15 Volatility – The annualized standard deviation of the logged daily returns, adjusting for distributions from capital.
The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages
are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any
kind arising out of the use of all or part of these factbook pages.
1
NAV Estimation - Fair value of debt refers to the market price of the debt if it is traded or, if it is not traded, an
estimation of its value calculated using points over gilt methodology.
Cum Income NAVs include net revenue in the financial year to date. All estimates are fully diluted for the effects of
warrants, convertibles or treasury shares. NAV estimations are created and maintained by Morningstar. For more
detailed methodology document please contact FD.Support@morningstar.com
Z-Statistic 1y – Shows whether the fund’s current discount is significantly higher or lower than the average over the
past year, calculated as (Current Discount – Mean) / Std Dev
Gross Gearing – The ratio of estimated gross Assets to the Net Assets, expressed as a percentage
Net Gearing – The ratio of estimated Gross Assets minus cash and fixed interest to the Net Assets, expressed as a
percentage. Cash and fixed interest represents not-equity exposure.
Total Expense Ratio – (Total Expenses – Performance Fees – Cost of Leverage – Tax – Restructuring Costs) /
Average Net Assets
Period
2015
2014
2013
2012
2011
2010
Since FTSE 2009 Low (13 Mar 09)
Since Sub-Prime (20 Nov 07)
Since FTSE 2007 Peak (13 Oct 07)
6
7
8
9