Perpetual Inc&Growth Company Update

 
TIDMPLI 
 
11 December 2019 
 
Perpetual Income and Growth Investment Trust plc 
 
Company Update 
 
The Board of Perpetual Income and Growth Investment Trust plc (the "Company") 
notes the announcement made today by The Edinburgh Investment Trust plc 
("Edinburgh") concerning a change of its investment manager. Edinburgh is 
currently managed by Invesco Fund Managers Limited ("Invesco") with Mark 
Barnett as its portfolio manager, which is a similar management arrangement to 
that of the Company. 
 
In the Company's recent half-yearly financial report the Board made it clear 
that it was concerned about the Company's run of poor performance and is very 
sensitive to shareholder concerns about the continued weak results. The Board 
engages regularly with Mark Barnett, who continues to apply his consistent 
valuation-based investment approach and who continues to believe that the 
Company's exposure to UK domestic stocks will benefit from clarity regarding 
the Brexit negotiations. This may be easier to assess following the outcome of 
the UK General Election. 
 
While the Company's long-term performance remains poor, performance, both in 
absolute and relative terms, has improved over the last three months. In light 
of this, and with the General Election taking place this week, the Board does 
not consider it appropriate to undertake a review of its investment management 
arrangements at the current time. However, the Board has had a number of 
discussions with the management at Invesco about the continuing poor 
performance and about processes around individual portfolio managers and will 
be closely monitoring the situation, particularly with regards to the outcome 
of the upcoming General Election and the impact of this on the Company's 
portfolio and performance. 
 
Contact Details 
 
Richard Laing, Chair: telephone c/- 02037531517 
 
Winterflood Investment Trusts (Corporate Broker) Joe Winkley / Neil Morgan: 
telephone 020 3100 0000 
 
 
 
END

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December 11, 2019 03:08 ET (08:08 GMT)

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