Fund Objective

The Invesco Perpetual International Equity Fund aims to achieve capital growth

View on Past Performance

The credit market impasse and speculative short-selling of shares were blamed for the demise of some of Wall Street's most recognised names during the month. The crisis initially affecting US financial institutions spread globally and a number of companies in the UK and Europe also had to be rescued by government intervention, taken over by rival institutions or left to file for bankruptcy.Stockmarket volatility peaked when the US government's plan to extend credit to troubled financial companies was initially rejected by Congress. Over the month, the FTSE World index fell by 9.9% (£, total return). More broadly, data showed that economic conditions deteriorated across much of the world, with unemployment levels rising in Western countries. Ireland became the first country in the eurozone to enter a technical recession.More positively, commodity prices fell, easing inflationary pressures enough for the People's Bank of China to reduce interest rates for the first time in six years. Oil prices fell by 13% as slowing global economic growth was expected to reduce demand.

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