Invesco Perpetual reduces fund exposure limit on Global Targeted Returns

Changes made as vehicle's AUM grows to £2.9bn

Invesco Perpetual has reduced the level its Global Targeted Returns fund can invest in other funds to 10%, following a substantial increase in assets under management.

Since launch in September 2013, the funds - managed by former SLI GARS managers David Millar (pictured), Richard Batty and Dave Jubb - have invested a significant proportion of the assets under management into other Invesco funds. However, the fund has since decreased positions in these funds with the managers investing directly in the underlying assets as total AUM has grown to £2.9bn. Invesco strengthens multi-asset team as GTR assets top £1bn As a result, from the 19 October the fund's prospectus will be amended to say the vehicle can invest no more than 10% in other fund...