4th Aug 2025 16:17
(Alliance News) - Invesco Global Equity Income Trust PLC on Monday said it outperformed the benchmark index and hailed "another year of strong absolute and relative investment performance".
The investment trust said its net asset value total return for the twelve months to the end of May was 11.9%, down from 21.0% in the 2024 financial year.
It beat the benchmark MSCI World index total return of 7.4%.
The trust said NAV per share at the end of the financial year was 337.36 pence, up 7.7% from 313.30p at the end of the prior year.
Income fell 41% to GBP4.4 million from GBP7.4 million, while net revenue available for ordinary shares was down 49% to GBP3.1 million from GBP6.1 million.
The trust declared a final dividend of 3.13p per share, up 23% from 2.55p a year ago. This gave a total dividend for the year of 12.52p, 70% higher than 7.35p for the prior year.
Invesco Global Equity Income Trust said the total dividend payable for the 2026 financial year will be 13.50p, an increase of 7.8% from the financial year just ended. The first interim dividend of 3.375p will be paid on August 14.
Since the end of the year, the NAV total return per share to the end of July was 7.7%, matching the benchmark total return for the period.
Looking ahead, Chair Sue Inglis said: "The constant barrage of geopolitical tensions and tariff disputes has weighed on the global growth outlook, though levels of uncertainty have eased somewhat since the financial year end. Nonetheless, forecasting the year ahead remains inherently difficult, particularly given the US president's unpredictable approach to policymaking."
Inglis said corporate fundamentals, particularly in the US, are "broadly supportive" despite expected further bouts of equity market volatility. "Valuations in other regions, notably Europe and the UK, also appear relatively attractive, offering compelling opportunities for selective investment," she added.
The chair said she is confident that the company is "well positioned to navigate uncertainty and continue to meet its long-term objectives".
Portfolio Manager Stephen Anness said: "It isn't often in your career that almost every business in the market goes on sale, as it did in April following 'liberation day'. There were many businesses on our shopping list that we had been waiting to buy, and many of those went on sale. This is potentially a very exciting time for future returns."
Shares in Invesco Global Equity Income Trust were up 2.6% at 361.00p in London on Monday afternoon.
By Michael Hennessey, Alliance News reporter
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