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Invesco launches retirement income fund alongside Summit multi-asset ranges

26 June 2024

The fund will complement Invesco’s Summit Growth and Summit Responsible funds.

By Gary Jackson,

Head of editorial, FE fundinfo

Invesco has unveiled a fund of funds to help UK financial advisers deliver reliable income streams to their clients, particularly during retirement.

The Invesco Summit Income fund targets an income of 2-3% above the Bank of England Base rate over a 12-month rolling period, to be paid monthly. Invesco said the fund has been launched because of “growing demand for income, particularly from clients in the decumulation stage of retirement”.

Invesco Summit Income will generate income from  both natural and enhanced sources, by investing in a wide range of asset classes and geographies. As well as income, the fund will focus on risk management and will use alternative investments in addition to traditional defensive investments such as bonds to dampen volatility.

Investing in both active and passive strategies, the portfolio will have at least 60% in debt securities, cash equivalents and money-market instruments while a maximum of 40% will be in equities, related securities and commodities.

It will be managed by David Aujla, John Burrello, Gwilym Satchell and Alessio de Longis from Invesco’s multi-asset strategies team and is designed to complement the team’s Summit Growth and Summit Responsible fund ranges by adding an income solution.

Aujla said: “As more investors enter the decumulation phase of their retirement journey there is increasing demand for investment solutions which provide steady income streams in an ever-changing landscape.

“We aim to deliver dependable income from a diverse, global range of sources within a tightly controlled risk management framework, so that investors can have the confidence in retirement that they need.”

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