The product is called the Invesco Perpetual Global Targeted Returns Fund, which it says is the first to be managed by its newly formed multi-asset investment team based in Henley-on-Thames, to the west of London.

The new strategy has been created by a team led by David Millar, along with fund managers Dave Jubb and Richard Batty. The team takes an unconstrained, conviction-led approach to multi asset investing.

The fund targets a gross return of 5 per cent per annum above UK three-month LIBOR (or an equivalent reference rate) on a rolling three-year basis and aims to achieve this with less than half the volatility of global equities, over the same rolling three-year period.

“A recurring theme in our conversations with clients has been the challenges they face in constructing portfolios that not only combine diversification with the control of volatility, but also the need to deliver returns,” Ian Trevers, head of distribution at Invesco Perpetual, said.

“The fund will appeal to a broad range of investors; it could fit into an existing portfolio, where its broad diversification can dampen risk elsewhere, or form the core holding in a new one,"said Trevers.

The portfolio is typically built with approximately 60 per cent of assets under management allocated to other eligible funds in the Invesco Perpetual range and wider Invesco group and around 40 per cent allocated to cash or near cash (as cover for derivative exposure).