Share Name Share Symbol Market Type Share ISIN Share Description
Invesco Enhanced Income Limited LSE:IPE London Ordinary Share GB00B05NYM32 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 73.80 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
72.80 74.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 8.88 7.88 4.54 16.3 128
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 73.80 GBX

Invesco Enhanced Income (IPE) Latest News

Invesco Enhanced Income News

Date Time Source Headline
21/5/202119:11ALNCCity Merchants and Invesco Enhanced merger completed
20/5/202108:00UKREGOfficial List Removal - Invesco Enhanced Income Limited
19/5/202114:45UKREGInvesco Enh Inc Results of Scheme
19/5/202111:21UKREGInvesco Enh Inc Result of Meeting
14/5/202111:29UKREGInvesco Enh Inc Net Asset Value(s)
13/5/202111:25UKREGInvesco Enh Inc Net Asset Value(s)
12/5/202111:33UKREGInvesco Enh Inc Net Asset Value(s)
11/5/202111:13UKREGInvesco Enh Inc Net Asset Value(s)
10/5/202111:22UKREGInvesco Enh Inc Net Asset Value(s)
07/5/202111:33UKREGInvesco Enh Inc Net Asset Value(s)
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Invesco Enhanced Income Investors    Invesco Enhanced Income Takeover Rumours

Invesco Enhanced Income (IPE) Discussions and Chat

Invesco Enhanced Income Forums and Chat

Date Time Title Posts
24/5/202108:55Invesco Perpetual Enhanced Income151
09/4/202112:57Help with adding IPE to monitor list2

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Invesco Enhanced Income Daily Update: Invesco Enhanced Income Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker IPE. The last closing price for Invesco Enhanced Income was 73.80p.
Invesco Enhanced Income Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 76p while the 1 year low share price is currently 63.60p.
There are currently 173,969,855 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Invesco Enhanced Income Limited is £128,389,752.99.
panshanger1: Has a new thread been set up for IPE / CMHY Now BIPS
cc2014: I use HL and AJBell. I only have IPE with HL, which credited my dividend yesterday but the shares still show as IPE. Reading these BB over the years out of the mainstream brokers HL, AJBell provide the best service in terms of corporate action. Probably ii next and Barclays go to the bottom of the list
rahosi: HSBC InvestDirect. Today, IPE still showing in my portfolio &, as usual, yesterday's dividend has not yet been credited. Am interested to know how other platforms perform. HSBC RARELY credit on dividend payment date and I'm getting fed up with them
marktime1231: According to an announcement by CMHY today its merger with (acquisition of) IPE completed today. My 0.75p bonus dividend on IPE shares landed this morning, and the IPE holding was wiped. In exchange we will receive 0.383084 shares in CMHY for every IPE held. This should show up in your portfolio tomorrow if it didn't already today. Future dividends are expected at the rate of 11p per annum in quarterly instalments of 2.75p per share, the next ex-div in mid July. A yield c. 5.7% at a price around 193p. At some stage I think pretty soon the combined entity will be renamed BIPS. I wonder if a member on here will set up a BIPS thread now this one is defunct.
nerja: Cmhy only aye 10 p at the moment, so the 11p would be a slight increase. I can’t work out what the combined price should be.
scrwal: So for both companies there is a dividend rerating downwards. Forward yield for IPE holders is 6% based on Friday close. Based on the time frame we should get the usual 1.25p in April plus the 0.75p special as well.
speedsgh: Proposed Merger with City Merchants High Yield Trust Ltd - HTTPS://www.investegate.co.uk/invesco-enhanced-income-ltd--ipe-/prn/proposed-merger-with-city-merchants-high-yield-trust-ltd/20210301070000P9116/ The Board of Invesco Enhanced Income Limited (the “Company” or “IPE”) is pleased to announce that it has signed Heads of Terms with the Board of City Merchants High Yield Trust Limited (“CMHY”) in respect of a proposed merger with CMHY to be effected by way of a shareholder approved contractual scheme of reconstruction (the “Scheme”). The Scheme will be implemented on a Formula Asset Value (“FAV”) for FAV basis. It is proposed that IPE will be merged into CMHY and the current fund manager of both IPE and CMHY, Rhys Davies, will continue as the fund manager of the enlarged entity which will be renamed Invesco Bond Income Plus Limited (“BIPS”) which, based on the existing net assets of IPE and CMHY, would have net assets in excess of £300 million. (The above proposals are referred to herein as the “Proposals”.) The Board believes that the Proposals will enable IPE shareholders to benefit from greater economies of scale that are expected to result from the enlarged asset base of BIPS whilst retaining the same investment approach and manager. Benefits of the Proposals to IPE Shareholders The Board believes that the Proposals have a number of benefits for IPE shareholders: ~ Greater scale through the combination of similar investment portfolios: Shareholders will be able to continue with the same fund management company and investment manager with a similar investment style. Rhys Davies currently manages both funds with a good track record and does so with a similar investment objective of high income and a focus on high-yield fixed-interest securities. There is a high degree of overlap between the two investment portfolios. ~ Lower management fee arrangements: In connection with the Proposals, it has been agreed with Invesco Fund Managers Limited (“IFML”) that the management fee will be reduced to an annual amount equal to 0.65 per cent of the total assets less current liabilities to reflect the larger size of BIPS. This is a reduction from the IPE tiered annual management fee with a current blended rate of 0.76 per cent of IPE’s net assets; other costs will be spread across a larger asset base resulting in further economies of scale. ~ Sustainable income level: It is anticipated that the income yield payable to IPE shareholders will be placed onto a more sustainable basis as a consequence of the transaction. In addition, IPE shareholders will be paid a special pre-liquidation dividend of 0.75 pence per IPE ordinary share ahead of the transaction. ~ Increase in scale and improved liquidity: The Board expects that the enlarged entity will benefit from greater liquidity in its shares. ~ Potential for strong share price rating: The Board believes that the above benefits should assist the shares in maintaining a strong rating as the greater scale of BIPS is expected to result in broader market appeal. The Proposals will be subject to the approval by the shareholders of both IPE and CMHY in addition to regulatory and tax approvals. A timetable and further details of the Proposals will be announced in due course... Dividend Policy In connection with the Proposals, it is proposed that BIPS adopt a dividend policy to target an annual dividend of 11.0 pence per share over a three year period following the implementation of the Scheme by way of 4 quarterly dividends of 2.75 pence per share. This is approximately equivalent to an annual dividend of 4.25p per share for IPE shareholders[1]. It is anticipated that dividends will be substantially covered by net income from the portfolio, although BIPS will support the target dividend over this period through the use of revenue and capital reserves if necessary. Thereafter, the Board of BIPS shall give consideration to its ongoing dividend policy, taking into account the annualised net income from its portfolio and the market environment at that time. This proposed dividend policy has been agreed between the Board of IPE and CMHY in recognition of the differential in income distribution ratios adopted by each of the two companies and is intended to provide a path towards a longer-term sustainable income distribution to shareholders of BIPS. Whilst the target dividend of 11.0 pence per share would result in a reduction in the annual dividend income for IPE’s shareholders compared with IPE’s historical dividend pay-out, IPE shareholders will be paid a special pre-liquidation dividend of 0.75 pence per IPE ordinary share ahead of the transaction, which is expected to be approximately equal to the reduction for the first year following the merger. IPE’s dividend has been supported by the use of revenue reserves for several years. As noted in IPE’s 2020 Annual Financial Report, the medium term effects of Covid-19 will likely bring a prolonged period of very low interest rates, in light of which the Board would be reviewing whether the dividend policy is sustainable, balancing the need for current income against the requirement to preserve investors’ capital to earn that income in coming years. The Board of IPE has taken this into account when considering the dividend proposals set out above and believes they will continue to provide an attractive level of income for IPE shareholders over the long-term... Expected timetable It is currently envisaged that a shareholder circular and notice of the general meeting setting out the details of the Scheme and seeking shareholder approval will be sent to shareholders in April 2021. The relevant general meetings are also expected to be convened in May 2021. The Chairman of IPE, Kate Bolsover , commented: “We believe the combination of the two trusts to form Invesco Bond Income Plus (“BIPS”) to be beneficial and appropriate for IPE shareholders given the greater scale and lower ongoing charges. The Board believes the Proposals will provide an attractive and sustainable level of income for IPE shareholders over the long-term whilst also promoting greater liquidity in its shares and a strong long-term share price rating. The continuation of investment approach which will be led by the same fund manager and fund management house underpins the clear rationale for the merger, allowing shareholders to benefit from the manager’s strong track record.”
speedsgh: Dividend Declaration - HTTPS://www.investegate.co.uk/invesco-enhanced-income-ltd--ipe-/prn/dividend-declaration/20210226120141P9EF9/ The Directors of the Company are pleased to announce the 2nd interim dividend, in respect of the period from 1 January 2021 to 31 March 2021, of 1.25 pence per Ordinary share. This dividend will be paid on 30 April 2021, to shareholders on the register on 9 April 2021. Shares will be quoted ex-dividend on 8 April 2021.
cc2014: Not much to say is there. I don't really care about the split between income and capital but I suspect 90% of investors do and that the share price will fall when it happens based on what's I've seen happen in similar situations. I don't think IPE is the only one in this situation. NCYF looks far more ready for a cut than here but they don't seem to worry about capital deprecation. I shall hold my shares here. If they do fall on a dividend cut I'll consider that a buying opportunity.
speedsgh: Portfolio Update - HTTPS://www.investegate.co.uk/invesco-enh-inc--ipe-/prn/portfolio-update/20200323091926P7652/ In this very challenging time, an update from the Company’s portfolio manager is set out below. The Company’s closed ended structure means the Manager does not have to realise investments in these volatile markets to meet redemptions. It also enables the Manager to utilise borrowings to take advantage of opportunities to purchase bonds at attractive prices and enhance income as and when they present themselves. Furthermore, the Company has material revenue reserves available to support the payment of the quarterly dividend. The Company’s dividend policy remains unchanged and, whilst the Board is closely monitoring developments throughout this crisis, it remains confident that the portfolio is in good hands. Rhys Davies, Portfolio Manager, commented: “The rapid spread of the coronavirus outbreak has sadly impacted many lives and will impact many more over the coming months. This sobering prospect is paramount in my thoughts. As a portfolio manager I must, however, consider the economic and market impact of the virus, and how best to position Invesco Enhanced Income Limited (IPE). As of the date of this release, high yield bond markets appear dysfunctional. We are observing widespread selling and at times there are very few buyers, which creates immense downward pressure on bond prices. Cash is king and those that can invest are able to name their price. We have not witnessed markets like this since the financial crisis. Shareholders in the Company have experienced a decline in the share price that extends far beyond the movement in the Company’s NAV. Thankfully, IPE entered this crisis on a relatively strong footing. The portfolio was cautiously positioned by the end of 2019, which was a natural response to yields having fallen so much and our sober view on valuations. At the very early stages of the virus outbreak I raised cash in the portfolio significantly. As the crisis developed, I also put a hedge in place via a credit default swap. This defensive stance has meaningfully reduced the impact of market volatility on the Company’s NAV and leaves the Company with a solid base from which to invest. The portfolio is well diversified and has always maintained exposure to well over 100 different companies. It is my belief that such diversification of credit risk is essential in a portfolio that is focussed on high yield bonds. These are unprecedented times and it is not clear how the default environment will evolve but a diversified portfolio will leave the Company in a strong position to cope. Finally, the portfolio has been constructed with a bottom-up approach, based on individual company selection. Invesco has a team of highly experienced credit analysts whose job it is to navigate credit markets in both good times and bad. The global policy responses announced so far are astounding but markets remain rightly focussed on the economic impact that the virus will inflict. High yield bond markets have repriced to reflect the severe economic shock that we can expect, but a lack of market liquidity has undoubtedly exacerbated price moves. Such dislocation between prices today and longer-term value is already creating very attractive opportunities for the Company. Whilst maintaining a prudent level of cash I am slowly and cautiously starting to add positions to the portfolio, buying bonds from companies that we believe have a balance sheet and business profile that can survive even a severe economic disruption. These attractive purchases at low prices will increase the Company’s income beyond its pre-crisis level, to the benefit of dividend cover. It is important that I, and indeed shareholders, take a longer-term view beyond the current volatility in markets. We do not know when there will be a positive development around the virus, but in the meantime the Company contains a diversified portfolio of bonds that produce an attractive level of income for shareholders. I would like to wish all shareholders and readers of this note good health at this worrying time and to reassure you that our long established and successful investment process ensures that we are well equipped to manage the portfolio through the current uncertainty.”
Invesco Enhanced Income share price data is direct from the London Stock Exchange
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