Title: Factsheet - Invesco Bond Income Plus Limited URL Source: https://is.gd/XWo7Dp Published Time: Wed, 22 Jan 2025 22:02:57 GMT Markdown Content: # Invesco Bond Income Plus Limited # As at 31 December 2024 www.invesco.co.uk/bips Please note that on the 12th December 2024, the Board announced an increased 4th quarter dividend, and that the targeted dividend amount for 2025 would increase from 11.5p per share to 12.25p per share. > Portfolio Managers: Rhys Davies (pictured) and Edward Craven (Deputy Portfolio Manager) Key facts Launched May 1991 1 Ticker BIPS.L Total Assets £391.0m Ordinary shares Share Price Cum-Income NAV (debt at fair value) 174.0p 170.9p Premium 1.8% Dividend Yield 2 6.7% Gearing 3 9.9% Shares in issue Ordinary shares 202,379,323 Borrowing The Company may use repurchase agreements. ______________________________________ Yield to Maturity: 6.00% Investment objective The Company’s investment objective is to seek to obtain capital growth and high income from investment, predominantly in high-yielding fixed-interest securities. Further details of the Company’s Investment Policy and Risk and Investment Limits can be found in the Directors' Report contained within the Company’s Annual Financial Report. Ordinary share price and NAV cumulative performance % growth > 6 months 1 Year 3 Years 5 Years 10 Years Share Price 4.7 8.8 14.0 20.9 63.7 Net Asset Value 4.7 8.5 8.2 21.7 66.7 Standardised rolling 12-month performance % growth > 31.12.19 31.12.20 31.12.20 31.12.21 31.12.21 31.12.22 31.12.22 31.12.23 31.12.23 31.12.24 Ordinary Share Price 1.8 4.2 -5.2 10.5 8.8 Net Asset Value 6.8 5.3 -10.7 11.6 8.5 Past performance is not a guide to future returns. Ordinary share price performance figures have been calculated using daily closing prices with dividends reinvested. NAV performance figures have been calculated using daily NAV with dividends reinvested. The NAV used includes current period revenue and values debt at fair. All performance figures are in sterling as at 31 December 2024 except where otherwise stated. Standardised past performance figures are updated on a quarterly basis. Source: Morningstar. > 1 The business of the Company was originally launched in 1991. It has been maintained through two corporate reconstructions, the most recent of which was in 2012 when the business was transferred to the current corporate entity in Jersey. > 2 The total declared and prospective dividends for the current financial year, expressed as a percentage of the trust’s value calculated at the month end close price. The yield is indicative only and is not guaranteed. > 3 Reflects the amount of net borrowings invested, i.e. borrowings less cash. It is based on net borrowings as a percentage of shareholders’ funds. The level of borrowing may be varied from time to time in the light of prevailing circumstances subject to a maximum of 30% of the Company’s total assets at any time. Borrowings may be achieved through repurchase agreements to enhance income. Top 10 issuers % portfolio > Lloyds Banking Group 7.875% FRN Perpetual, 6.375% FRN Perpetual, 8.5% Cnv FRN Perpetual, 8.5% Cnv FRN 27 Mar 2071 3.1 Barclays 4.375% FRN Perp, 8.875% Cnv FRN Perp, 9.25% Cnv FRN Perp, FRN 14 Nov 2032, FRN Perp, 8.5% FRN Perp 3.0 UK Treasury Bill 0.125% 22Mar2051, 0.5% 22Oct2061, 1.25% 31 Jul 2051(SNR), 3.75% 22Oct2053, 4% 22Oct2063 2.6 Co-Operative Bank 11.75% 22 May 2034, 6% FRN 06 Apr 2027(SNR), 7.5% FRN 08 Jul 2026, 9.5% Cnv FRN 24 May 2028(SNR) 2.2 Virgin Money 11% Cnv FRN Perpetual, 8.25% Cnv Perpetual, Cnv FRN 23 Aug 2029 (SNR) 2.1 Eléctricité De France 5.625% FRN Perp, 5.875% Perp, 6% Perp, 7.375% FRN Perp, 7.5% FRN Perp 2.1 Thames Water Finance 4.625% 19 May 2026 (SNR), 7.75% 30 Apr 2044, 8.25% 25 Apr 2040 (SNR) 2.1 Aviva 6.875% Cnv FRN Perpetual, 8.875% Preference 1.9 Ineos 7.5% 15 Apr 2029 (SNR), 8.5% 15 Mar 29 (SNR), 9.625% 15 Mar 29 (SNR), 6.75% 15 Apr 30 (SNR) 1.8 Albion Finance 6.125% 15 Oct 2026 (SNR), 8.75% 15 Apr 2027(SNR) 1.6 > Total 22.5 Credit rating breakdown % portfolio > AA 3.0 CC 2.2 A1.0 C0.0 BBB 25.6 CDS -0.3 BB 34.2 Equity 0.7 B19.9 Not Rated 8.1 CCC 3.4 Cash 2.1 > Total 100.0 10 year dividend payment history (pence/share) Dividend Pence/Share 0 5 10 15 10 10 10 10 10 10 10.75 11.25 11.5 11.68 15 16 17 18 19 20 21 22 23 24 Financial Years Ending 31 December Source: Morningstar. Please note that this chart may include dividends declared but not yet paid. Past performance is not a guide to future returns Financial calendar and dividend information > Year End 31 December Annual Financial Report published April Half-Yearly Financial Report published August Dividend payment dates February, May, August and November Annual General Meeting June General information > The ordinary shares of the Company are listed on the London Stock Exchange. On an annual basis, shareholder approval is sought to authorise the buy back and issue of shares. This enables the Company to respond to an excess of supply or demand for the Company’s shares in the market. Continuation vote > Annual continuation vote at AGM Fund Ratings > - AJ Bell Investment Awards 2024: The AJ Bell Fund and Investment Trust Awards were launched in 2017 and were rebranded to The AJ Bell Investment Awards in 2023. For more information on the awards and the categories, please visit the website: http://investmentawards.ajbell.co.uk/ - RSMR Investment Trust Rating: Rayner Spencer Mills Research (RSMR) provide a wide set of recognised and respected ratings. For more information on RSMR’s ratings, please visit their website: https://www.rsmr.co.uk/our-research/ Further information Client Services Telephone 0800 085 8677 Email enquiry@invesco.com Telephone calls may be recorded. www.invesco.co.uk/bips Issued by Invesco Fund Managers Limited, Perpetual Park, Perpetual Park Drive, Henley-on-Thames, Oxfordshire RG9 1HH, UK Authorised and regulated by the Financial Conduct Authority # Invesco Bond Income Plus Limited # As at 31 December 2024 Investment risks The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested. The portfolio has a significant proportion of high-yielding bonds, which are of lower credit quality and may result in large fluctuations in the NAV of the product. The product may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall. The product uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. Important information This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/ investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. Views and opinions are based on current market conditions and are subject to change. For more information, please refer to the following documents: the Key Information Document (KID), the Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. These documents are available upon request using the contact details shown and on the Company’s website. If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser. Invesco Bond Income Limited has a registered office at JTC House, 28 Esplanade, St Helier, Jersey JE4 2QP, JTC Fund Solutions (Jersey) Limited acts as the administrator, and the Collective Investment Fund is regulated by the Jersey Financial Services Commission.