Invesco to Permanently Reduce Management Fee on the Invesco 1-3 Year Laddered Floating Rate Note Index ETF (PFL)

PFL can help investors reduce risk in portfolios and benefit from higher yields in a rising rate environment

TORONTO, July 12, 2023  /CNW/ -- Invesco Canada Ltd. ("Invesco") announced today that the existing management fee on the Invesco 1-3 Year Laddered Floating Rate Note Index ETF (PFL) will be reduced from 0.20% to 0.12%. This change will go into effect on September 1, 2023.

PFL currently holds high-quality AAA rated and AA rated¹ short-term investment-grade government, agencies or provincial floating rate notes. The coupons paid by these holdings reset regularly resulting in higher coupon payments as interest rates rise. The laddering structure of PFL and short duration of underlying securities may help to reduce the interest-rate sensitivity of a portfolio in the current environment. As a fixed income ETF, PFL offers investors a potential low risk² investment during periods of rising interest rates.

PFL seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the FTSE Canada 1-3 Year Laddered Floating Rate Note Index. The index is designed to measure the return of a 1-3 year floating rate note laddered basket of Canadian government, agencies and provinces investment-grade floating-rate notes.

The full waiver of the management fee on PFL, announced by Invesco on July 14, 2022, will end on August 31, 2023.

For additional questions about this change please contact Invesco at 1.800.874.6275 or visit www.invesco.ca.

1.  Ratings by S&P.
2.  Invesco has rated the volatility of PFL as low.  This rating is based on how much PFL's returns have changed from year to year. It does not indicate how volatile PFL will be in the future.  The rating can change over time.  An ETF with a low risk rating can still lose money.

About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed US$1.5 trillion in assets on behalf of clients worldwide as of March 31, 2023. For more information, visit www.invesco.com.

Commissions, management fees and expenses may all be associated with investments in mutual funds and exchange-traded funds (ETFs). Trailing commissions may be associated with investments in mutual funds. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus before investing. Copies are available from Invesco Canada Ltd. at www.invesco.ca.

There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to the ETF. Ordinary brokerage commissions apply to purchases and sales of ETF units.

FTSE Global Debt Capital Markets Inc. ("FGDCM"), FTSE International Limited ("FTSE"), or the London Stock Exchange Group companies (the "Exchange") (together, the "Licensor Parties"). The Licensor Parties make no warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE Canada 1-3 Year Laddered Floating Rate Note Index ("the Index") and/or the figure at which the Index stands at any particular time on any particular day or otherwise. The Index is compiled and calculated by FGDCM and all copyright in the Index values and constituent lists vests in FGDCM. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in the Index and the Licensor Parties shall not be under any obligation to advise any person of any error therein. "FTSE®" is a trademark of FTSE International Limited in Canada and Taiwan, and "FTSE®" is a trademark of the London Stock Exchange Group companies in the rest of the world, and is used by FGDCM under licence

Invesco is a registered business name of Invesco Canada Ltd.

Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence.

© Invesco Canada Ltd., 2023

Contact: Stephanie Diiorio, 212-278-9037, [email protected]

SOURCE Invesco Ltd.