INVESCO Launches Three Directional Long-Short (130/30) Strategies

    Structured Products Utilizes 14-Year Experience in Long-Short

    NEW YORK, April 16 /CNW/ -- INVESCO's Global Structured Products Group
has recently been awarded mandates to fund three different directional
long-short products.  The new strategies are designed to help clients gain
additional alpha through the controlled use of shorting within their long-only
portfolio.  The team-managed portfolios will benefit from the group's more
than 14 years experience in shorting equities, dating from the inception of
its market neutral equity strategy in 1992.
    "These offerings are in direct response to our plan sponsors' needs and
demands for higher alpha tied to the efficient use of capital," said Russ
Kamp, CEO of INVESCO's Global Structured Products Group.  "We are excited
about making these strategies available to clients who are seeking enhanced
alpha strategies while preserving the strong risk control normally associated
with our stock selection strategies.  These strategies are a natural bridge
between our long-only portfolios and our market neutral capabilities which
have been in use for 23 and 14 years, respectively."
    130/30-type strategies have received increased attention over the past
year given their potential to increase alpha in the traditional long-only
space, without an appreciable increase in risk (tracking error). Plan sponsors
are concerned about low return expectations for large cap equities which
represent one of the largest asset allocations in their plan.  130/30-type
strategies are managed relative to a market benchmark and maintain the beta of
the underlying portfolio.  However, all 130/30-type strategies are not the
same. These strategies can be managed at the country, region, or global level
and can be flexible in terms of style and capitalization focus, as well as the
selected benchmark. Most of the funded strategies have been in the large cap
core space.  If successful, these products have huge potential to capture
significant market share.
    The three INVESCO strategies that have been funded with a combined more
than $515 million are:

    -- A Large Cap Core Directional Long/Short that is benchmarked to the
       MSCI US index
    -- A Small Cap Core Directional Long /Short that is benchmarked to the
       S&P 600 index
    -- A Large Cap Growth Directional Long/Short that is benchmarked to the
       Russell 1000 Growth index

    For more than 23 years, the INVESCO Global Structured Products Group has
managed equity strategies using a fundamentally based stock selection process
with rigorous risk management in an attempt to provide clients with consistent
returns and high information ratios. The 50+ member team manages $30 billion
in assets (as of December 31, 2006) from offices located in New York, Boston,
and Frankfurt.  Additional information is available at .

    INVESCO is part of AMVESCAP, a leading independent global investment
manager, dedicated to helping people worldwide build their financial security.
Operating under the AIM, AIM Trimark, Atlantic Trust, INVESCO, Invesco
Perpetual, PowerShares and WL Ross & Co. brands, AMVESCAP strives to deliver
outstanding products and services through a comprehensive array of enduring
investment solutions for our retail, institutional and private wealth
management clients around the world. The company is listed on the London, New
York and Toronto stock exchanges with the symbol "AVZ." Additional information
is available at .

For further information:

For further information: Bill Hensel, Media Relations for INVESCO,
+1-404-479-2886, fax +1-404-962-8238,; Web Site:;

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