The Invesco Perpetual European Smaller Companies Fund aims to achieve capital growth through a portfolio of investments in smaller European companies, excluding the United Kingdom. In pursuing this objective, the fund managers may include investments that they consider appropriate which include transferable securities, money market instruments, warrants, collective investment schemes, deposits and other permitted investments and transactions as detailed in Appendix 2 of the most recent Prospectus.
In a market where equities were under severe pressure, the risk-averse nature of investors saw them shun smaller companies. Consequently, smaller companies underperformed their large-cap peers during September, with the HSBC European Smaller Companies Index falling by 16.3%.Chemicals and vehicle manufacturers proved relatively resilient, while weakness was more pronounced in the natural resources and energy sectors. Macroeconomic data also continued to weaken as eurozone business surveys for September turned sharply lower, signalling a further downgrading of companies' growth expectations.
331.28p
