Invesco Canada announces changes to its mutual fund product line

TORONTO, May 22, 2020 /CNW/ -- Invesco Canada Ltd. ("Invesco") today announced proposed changes to its mutual fund product line. Subject to applicable approvals, one fund will be merged into an existing Invesco Canada fund, four funds will be terminated, and one fund will make changes to its investment objective, fund name and management team. Additionally, four series will be launched for existing mutual funds, and one series will be renamed. The firm has also provided several clarifications regarding portfolio management responsibilities for six funds. Finally, the firm has revised its investment risk ratings for two funds.

Invesco proposes merging the following funds:

Non-continuing fund	Continuing fund	Effective date
Invesco Canadian Interest Fund	Invesco Canada Money Market Fund	August 7, 2020

Approved by the Independent Review Committee (IRC). Investors will receive a 60-day notice, which will be mailed in early June 2020.

The firm plans to terminate the following funds, effective August 7, 2020:

Terminating fund

Invesco Canadian Core Plus Bond Class

Invesco Short-Term Income Class

Invesco Energy Class

Invesco Resources Fund

Investors will receive a 60-day notice, which will be mailed in June 2020. Effective May 22, 2020, these funds are closed to new investors. Existing investors may continue to purchase securities until July 24, 2020.

The firm proposes to change the investment objective of Invesco Indo-Pacific Fund.

This change is subject to investor approval. Further details surrounding the investment objective change will be included in a management information circular and proxy, which will be available online, and a Notice-and-Access Document will be mailed in July 2020 to investors of record as of July 2, 2020. If approved, effective August 21, 2020, the fund will also change its name to Invesco Emerging Markets Fund, the investment objective and strategies will change, as will the portfolio management team.

The firm plans to launch the following new series for existing funds, effective June 8, 2020:

Fund	Series to be launched
Invesco Allocation Fund	Series P
Invesco Canada Money Market Fund	Series F, Series FDCA
Invesco FTSE RAFI Global+ ETF Fund	Series F4

The firm will rename the following fund series, effective June 8, 2020:

Old name	New name
Invesco Canada Money Market Fund – Series DCA Heritage	Invesco Canada Money Market Fund – Series Default

Series Default of Invesco Canada Money Market Fund will not be available for direct purchase by investors effective June 8, 2020.

The firm has made the following changes to clarify the roles and responsibilities of the portfolio management teams, effective June 30, 2020:

Fund	Current management team	New management team*
Invesco Emerging Markets Class	Jeff Feng Matt Peden	Jeff Feng
Invesco Emerging Markets Select Pool	Jeff Feng Matt Peden	Jeff Feng
Invesco Europlus Fund	Matt Peden Michael Hatcher	Matt Peden Andrea Salsiri
Invesco Global Companies Fund**	Michael Hatcher Jeff Feng Matt Peden	Michael Hatcher
Invesco Global Diversified Income Fund	Michael Hatcher Jeff Feng Matthew Brill Avi Hooper Todd Schomberg	Michael Hatcher Matthew Brill Avi Hooper Todd Schomberg
Invesco Global Dividend Class	Michael Hatcher Jeff Feng	Michael Hatcher

There have been no changes to the lead manager on these strategies. Senior Portfolio Managers Michael Hatcher, Jeff Feng, and Matt Peden have worked together as a team since 2009 and will continue to leverage each other's expertise and insights as part of Invesco's broader investment team. In each case, clarifications are being made to better identify the key decision-maker while having fewer listed portfolio managers in supporting roles on each strategy. 

The firm has also revised its investment risk ratings for the following funds:

Fund	Previous investment risk rating	New investment risk rating
Invesco Emerging Markets Class	Medium to high	Medium
Invesco Emerging Markets Select Pool	Medium to high	Medium

The risk rating changes were made in accordance with the risk classification methodology set by the Canadian Securities Administrators to determine the investment risk level of mutual funds. There are no changes to the investment objectives or strategies of the funds.

Please contact Invesco at 1.800.874.6275. You can also connect with Invesco on Twitter (@InvescoCanada), LinkedIn, Facebook, or through the Invesco Canada blog.

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 25 countries, Invesco managed US$1.1 trillion in assets on behalf of clients worldwide as of March 31, 2020. For more information, visit invesco.com.

Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the simplified prospectus before investing. Copies are available from your advisor or from Invesco Canada Ltd.

Series F is available only to eligible investors who have fee-based accounts with their Dealer and whose Dealer has signed an Invesco Series F Dealer agreement with Invesco Canada. Sales charges and trailing commissions are not payable for Series F units/shares; however investors may pay other fees to their Dealer for investment advice and other services. Other series' performance (and star ratings) will differ due to fees and expenses.

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

© Invesco Canada Ltd., 2020

Contact: Natalie Marin, Invesco Media Relations 212.323.4352

SOURCE Invesco Ltd.