Invesco Perpetual High Income

bendix

Is anyone else getting frustrated with Neil Woodford and this damn fund?

Yes, yes, yes we keep hearing the defensive stocks are coming to the fore, but having been in this for six months I've sat back patiently while it has significantly underperformed other UK share funds, waiting for catch up and day after day I watch the key shares it holds - AZ, GSK, BAT, Vodafone etc - do absolutely nothing.

Neil Woodford investment guru, my a**e.

Rant over :rotfl:

Lokolo

lol sore loser.

my funds have gone down around 5-10% over the last 2 weeks. p*ssing me off! nevermind, I am still up 20%

bendix

Hahahaha. Luckily, I only have a small portion of my portfolio in the fund, but I'm getting bored reading what a genius this guy is. Given the profile he has in the media, I was half-expecting him to have helped me retire already!

To date, I've been underwhelmed by the fund . . .

Lokolo

bendix wrote: »

Hahahaha. Luckily, I only have a small portion of my portfolio in the fund, but I'm getting bored reading what a genius this guy is. Given the profile he has in the media, I was half-expecting him to have helped me retire already!

To date, I've been underwhelmed by the fund . . .

Yeh I think also a lot of people have invested in this fund, so maybe its too big for him to handle??

Who knows, who knows.

What I do know though is, it's time for lunch. Ta ta!

dunstonh

Prior to this fund taking the crown as a top fund, you used to have Liontrust First Income as the best one. That went off the boil as where it invested and the opinions of the manager just didnt perform as well as the rest of the market. i.e. it suited a certain period in the cycle but when that changed, the fund didnt. I wonder if history is repeating itself here.

bendix

Which leads one to the obvious conclusion - most of this is pure luck.

I look at the top 10 share allocations of the leading UK funds and their similarities are amazing - dominated by Glaxo, AstraZen, BG, BT, BAT, Vodafone, Tesco.

We put these fund managers on a pedestal and yet - frankly - I'm really struggling to see where the skill is.

Decide you share purchases, make the buy and sit back and wait - that seems to be pretty much all there is to it.

dunstonh

Which leads one to the obvious conclusion - most of this is pure luck.

its more to do with economic cycle. The funds that do well in each cycle tend to be the ones that are best suited to that cycle. When it moves on from that the funds dont often change (or may not be allowed to change within their remit).

Historically, the top performing sector in the previous economic cycle does not tend to be the top performing in the next.

During rebalances this year, i have been reducing the equity income holdings and moving to recovery and spec sits funds. Like anyone else, I dont know the future but you tend to find these do better in recovery situations. There have been warnings for some time now that equity income is not likely to be the best place for your UK equity holdings.

bendix

dunstonh wrote: »

its more to do with economic cycle. The funds that do well in each cycle tend to be the ones that are best suited to that cycle. When it moves on from that the funds dont often change (or may not be allowed to change within their remit).

Historically, the top performing sector in the previous economic cycle does not tend to be the top performing in the next.

During rebalances this year, i have been reducing the equity income holdings and moving to recovery and spec sits funds. Like anyone else, I dont know the future but you tend to find these do better in recovery situations. There have been warnings for some time now that equity income is not likely to be the best place for your UK equity holdings.

Please stop being so reasonable and logical, dunstonh.

I'm trying to have a good old rant, and you're breaking my stride.

mr_fishbulb

I have this fund in both my ISA and Pension and I'm waiting for something to happen too

Been hearing on podcasts that because it hasn't performed as well as other similar funds recently, it is due a correction (however that works!). They were talking about cyclical and defensive which I don't fully understand yet.

From low point on 9th March it has recovered 22% until today (but then again which equity fund hasn't)? It's just the last 2 months where nothing has happened.

ses6jwg

I opened 2 funds back in June, and one about a month ago.

Blackrock UK Abs Alpha ACC - currently up 2.94%
Jupiter Financial Opps ACC - Up about 16% I think
M&G Index-linked gilt - down 0.8%

artha

ses6jwg wrote: »

I opened 2 funds back in June, and one about a month ago.

Blackrock UK Abs Alpha ACC - currently up 2.94%
Jupiter Financial Opps ACC - Up about 16% I think
M&G Index-linked gilt - down 0.8%

and the point is?