Barnett's two remaining income funds to switch IMA sector

Mark Barnett's Invesco Perpetual Income and UK Strategic Income funds are to exit the IMA UK Equity Income sector in the next few days.

The manager's £13bn High Income fund was ejected from the UK Equity Income sector earlier this year, moving to the UK All Companies sector. Now the group has confirmed his other two main mandates will both move across at the end of June. Invesco Perpetual had already flagged the possibility of the two funds moving sector when Barnett's High Income fund exited at the end of March. All three funds have a similar investment style, and are lagging the three-year yield requirement imposed by the IMA. A number of other income mandates have already been forced to exit the peer group. ...