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Article: Uncertain future for Invesco Perpetual European.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- August 4, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mark Robinson
FUND PROFILE: Shareholders' vote prompts wind up or rollover at Invesco Perpetual's European Absolute Return Trust
Invesco Perpetual's European Absolute Return Trust (IPE) charges a performance fee, but poor returns have led dissatisfied shareholders to defeat an ordinary resolution at the June AGM to continue the company as an investment trust in its present form.
Under the Articles of Association, the board is now in consultations that could result in a cash return to shareholders (based on net asset value), or possible rollovers (at formula NAV) into either the City Merchants High Yield Trust or the Jupiter European ...