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Invesco Inc Grth Tst (IVI)

  Print      Mail a friend       Annual reports

Monday 17 January, 2011

Invesco Inc Grth Tst

Interim Management Statement

                        Invesco Income Growth Trust plc                        

                         Interim Management Statement                          

                   for the Three Months ended 31 December 2010                   

Material Events

No material events, specifically in relation to the Company, occurred during
the period.


During the period, a second interim of 1.9p per ordinary share was paid in
respect of the quarter ended 30 September 2010. This dividend was paid on 30
December 2010 to shareholders on the register on 3 December 2010.

The Directors have declared the third interim dividend in respect of the
quarter ended 31 December 2010 of 1.9p per ordinary share payable on 4 March
2011 to shareholders on the register on 4 February 2011.

Performance - Total Return

                              3 Months      1 Year      3 Years      5 Years   
Share Price                     5.7%        19.0%        -2.3%        25.2%    
Net Asset Value                 6.5%        14.0%        -5.8%        18.3%    
FTSE All-Share Index            7.4%        14.5%         4.4%        28.4%    

Source: Thomson Datastream

Share Price and Discount

                                         For the Three Months Ended 31 Dec 2010
                       As at 31 Dec 10       High         Low        Average   
Share Price                 191.0           192.3        182.5        187.8    
Discount                     7.4%                                              

Source: Thomson Datastream

Assets and Gearing

                                    31 Dec 2010    30 Sept 2010      Change
Total Gross Assets (£m)                   129.4           126.9        2.0%
Cash (£m)                                     -               -           -
Borrowings (£m)                             8.6             9.7      -11.1%
Cum income Net Asset Value                206.3            196.3*      5.1%
Actual Gearing                              107             108            
Effective Gearing                           105             106            

* Ex dividend

`Actual Gearing' reflects loans drawn down, whereas `Effective Gearing'
reflects the amount of loans, i.e. loans less cash and bond holdings, in use by
the Company. It is calculated by taking the aggregate of net loans and
shareholders' funds and dividing by shareholders' funds.

Sector Breakdown of Portfolio

                           31 Dec 2010    30 Sept 2010
Consumer Services                19.3%           19.7%
Financials                       16.5%           16.6%
Utilities                        13.5%           13.0%
Consumer Goods                   12.3%           12.1%
Industrials                      10.5%           10.8%
Healthcare                       10.5%           11.0%
Oil & Gas                         9.7%            9.5%
Telecommunications                6.2%            5.8%
Basic Materials                   1.5%            1.5%

Top Ten Holdings

Ranking   Top Ten Holdings*                 %           Ranking at    
At 31 Dec                             of Portfolio      30 Sept 10    
1         Royal Dutch Shell               4.9%               3        
2         British American Tobacco        4.8%               1        
3         Imperial Tobacco                4.7%               5        
4         GlaxoSmithKline                 4.7%               4        
5         HSBC                            4.6%               7        
6         AstraZeneca                     4.4%               2        
7         Vodafone                        4.0%               6        
8         Tesco                           2.8%               9        
9         Scottish & Southern Energy      2.8%              11        
10        Barclays (ords & floating       2.5%              10        
          14% perp bond)                                              

* Ordinary shares unless otherwise stated

Changes to Share Capital

                             Ordinary Shares of 25p each
                                    Issued   Treasury   
As at 30 Sept 2010              58,551,530       0      
Shares bought back                       0       0      
Shares issued                            0       0      
As at 31 Dec 2010               58,551,530       0      

The Company has authority to buy back shares (for cancellation or into
treasury) and to issue new shares (disapplying pre-emption rights), in each
case within specified limits. The Company expects to renew these authorities at
the Annual General Meeting each year.


The Company's Ordinary shares are listed on the London Stock Exchange and the
price is published in The Financial Times, The Daily Telegraph, The Times, The
Independent and The Evening Standard.

The Company's net asset value is calculated on a daily basis and can be viewed
on the London Stock Exchange website at

Further information can be obtained from Invesco Perpetual as follows:

Free Investor Helpline: 0800 085 8677

Internet address:

The information provided in this statement should not be considered as a
financial promotion.

Interim management statements are normally expected to be published in January
and July each year.

For and on behalf of

Invesco Asset Management Limited

- Company Secretary

17 January 2011