The Invesco Perpetual Select Trust Balanced Risk portfolio, managed by Scott Wolle (pictured), generated a total return on net assets of 5.5% over the year that ended on 31 May 2014. Its discount widened however so that the return to shareholders was 4.5%. The net asset return matched the return on 3 month LIBOR+5%.
The biggest contribution to portfolio performance came from the equity portfolio. Bond holdings were also helpful but commodity exposure detracted from performance.