08 May 2024
Robin West, UK Small Cap Equities Fund Manager
Share prices were generally more subdued over the first quarter of 2024, as expectations of when interest rates are first cut and by how much were reined in. This was on the back of a stronger than expected US economic performance with payroll and wages data coming in ahead of forecast. Meanwhile in the UK, inflation has continued to fall.
In this video, Robin looks back on the first quarter of 2024 and answers the following questions:
00:23 - What were the key events driving the market in Q1?
02:43 - How did the investment trust perform during the period?
04:53 - What changes have been made to the portfolio?
05:40 - How do you see the economy and the market progressing in 2024?
Investment risks
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
The Invesco Perpetual UK Smaller Companies Investment Trust plc invests in smaller companies which may result in a higher level of risk than a product that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.
The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.
The Invesco Perpetual UK Smaller Companies Investment Trust plc uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. In addition, some companies are suspending, lowering or postponing their dividend payments, which may affect the income received by the product during this period and in the future.
Important information
All information correct as at 31 March 2024 unless otherwise stated.
This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.
Views and opinions are based on current market conditions and are subject to change.
For more information on our products, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. This information is available on the website www.invesco.com/uk/en/investment-trusts.html.
Further details of the Company’s Investment Policy and Risk and Investment Limits can be found in the Report of the Directors contained within the Company’s Annual Financial Report.
If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser.