Invesco High Income fund ejected from IMA Equity Income sector

Invesco Perpetual has confirmed Mark Barnett's High Income fund is to exit the UK Equity Income sector at the end of the month, with two other income funds likely to follow suit.

The fund is moving in to the IMA UK All Companies sector at the end of the month. The group said due to similarities in its investment approach to equity income investing, the Invesco Perpetual Income Fund - previously run by Neil Woodford - and Barnett's Invesco Perpetual Strategic Income Fund  are also likely to move into the same sector later in 2014. "These changes are due to the constraints around the three year yield requirement used as a qualifier for the IMA Equity Income sector," the group said in a statement. The loss of the funds is a major blow for the sector, which has...