Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Invesco Pan European High Income A Acc EUR

Ranked 72 out of 98 in - Conservative EUR over 12 months
All calculations are in CHF unless stated

Managed by

Stephanie Butcher

Stephanie Butcher began her career in finance at Lazard Brothers in October 1993 having studied history at Cambridge University’s Gonville and Caius College. Butcher began managing US portfolios at Lazard before moving to Aberdeen Asset Management in 1997. She joined Aberdeen’s European desk in the summer of 1998 after a brief spell as a North American fund manager. Butcher moved to Invesco in 2003 to become a fund manager on the group’s European equities team.

Paul Causer

Based in Henley-on-Thames, Paul Causer co-leads Invesco Perpetual’s Fixed Interest team with Paul Read, managing a number of government, corporate and non- investment grade portfolios. Paul began his investment career in 1983 in research and credit analysis with Asahi Bank, the large Japanese commercial bank. He then moved to the bank's treasury department and traded securities and derivative instruments until 1990 when he was given responsibility for managing the bank's multi-currency investment portfolio before joining Invesco Perpetual in 1994. Paul holds a BSc in Economics from the London School of Economics.

Paul Read

Based in Henley-on-Thames, Paul Read co-leads Invesco Perpetual’s Fixed Interest team with Paul Causer, managing a number of government, corporate and non- investment grade portfolios across the maturity spectrum. Paul began his investment career with UBS (Securities) Ltd in 1986, and then moved to Merrill Lynch International in 1988. Paul initially worked on the bond sales desk, covering institutional investment managers at Merrill Lynch, before moving on to debt trading and working as a director of fixed interest trading in Tokyo from 1991 and in Paris from 1993 before joining Invesco Perpetual in 1995. He holds a BA in Economics and History from the University of Toronto and also has an MBA from INSEAD.


The Fund aims to achieve a high level of income together with long-term capital growth. The Fund seeks to achieve its objective by investing primarily in European securities (debt and equity). At least 50% of the NAV will be invested in debt securities. Up to 30% of the NAV of the Fund may be invested in aggregate in cash, cash equivalents, Money Market Instruments, equity and equity-related securities issued by companies or other entities not meeting the above requirements or in convertible debt of issuers worldwide

Showing fund performance in Switzerland View performance globally


Conservative EUR over : 31/10/2017 - 31/10/2018

Total Return

Quarterly Performance

to 30/09/2018 Annual Q1 Q2 Q3 Q4
2018 -0.9% -2.2% -1.8%
2017 15.6% 2.5% 3.9% 5.6% 2.7%
2016 3.9% -1.2% 0.6% 4.1% 0.4%
2015 -7.4% -7.4% -2.6% 0.8% 1.8%
2014 5.3% 3.0% 2.6% -0.8% 0.4%
2013 14.6% 2.9% 1.7% 4.8% 4.4%
2012 26.2% 11.5% -1.8% 9.2% 5.7%
2011 -5.9% 7.5% -4.8% -12.0% 4.5%
2010 -4.0% 4.5% -9.6% 7.5% -5.4%
2009 61.9% -4.1% 34.0% 21.5% 3.7%
2008 -37.7% -11.2% 5.1% -13.5% -22.8%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
EUR Forward Contract 37.39%
STIC EUR Liquidity Portfolio Agency Acc 2.69%
US Treasury 2.500% 15-Feb-2046 1.06%
STIC GBP Liquidity Portfolio Agency Inc 1.05%
Germany 1.000% 15-Aug-2025 0.98%
Germany 0.500% 15-Aug-2027 0.94%
Novartis AG ORD 0.92%
Roche Holding AG Par 0.90%
Italy 0.900% 01-Aug-2022 0.89%
UniCredit SpA PERP 0.87%

Registered For Sale In

  1. Austria
  2. Belgium
  3. Cyprus
  4. Czech Republic
  5. Finland
  6. France
  7. Germany
  8. Greece
  9. Guernsey
  10. Hong Kong
  11. Hungary
  12. Ireland
  13. Italy
  14. Jersey
  15. Liechtenstein
  16. Luxembourg
  17. Macau
  18. Malta
  19. Netherlands
  20. Norway
  21. Portugal
  22. Singapore
  23. Slovakia
  24. Spain
  25. Sweden
  26. Switzerland
  27. United Kingdom

Fund Info

  • Launch date31/03/2006
  • Share Class size2,978Mn
  • Base currencyEUR
  • ISIN LU0243957239

Purchase Info

  • Min. initial investment1,000
  • Min. regular additional investment0


  • Annual management1.25%
  • Initial investment1.25%

Related News

Staying in the saddle: mixed asset stars reveal their strategies

In the first part of a two-part special, some of the sector’s most successful fund managers reveal how they’ve stayed ahead of the pack.

Footballnomics: how economic disarray can lead to World Cup glory

Invesco's European star manager Stephanie Butcher uses her economic nous to predict which nation could win the World Cup.

Big on liquidity: Invesco's blockbuster bond manager Paul Read

As the bond bull run stalls, Paul Read talks about post-Lehman lessons, high yield pitfalls and why liquidity is the name of the game.

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).