TORONTO, July 29, 2021 /CNW/ -- Invesco Canada Ltd. ("Invesco") today announced changes to its mutual fund product line. Two funds will change their names, two funds will change their investment strategies and two funds will change their portfolio management team. In addition, three fund's investment risk rating will be revised, and Invesco Emerging Markets Select Pool will make changes to certain operational practices. Finally, purchases and certain switches into the Deferred Sales Charge option, the Low Load option and the Lower Load 4 option of each Invesco Canada fund will be closed effective on or about May 31, 2022.
Investment strategies, portfolio management team and fund name changes
Effective July 30, 2021, Invesco Canadian Endeavour Fund and Invesco Active Multi-Sector Credit Fund will change their investment strategies.
The Invesco Canadian Endeavour Fund investment strategies enhancement will provide a solution for investors looking for a pure asset allocation to Canadian equities within their overall portfolio, as the fund will typically be 100% invested in Canadian equities but may invest 10% of its non-cash assets in foreign equities. This change offers investors a high conviction, low turnover portfolio that is diversified by business idea and industry, while being committed to a stable and predictable geographic allocation.
The Invesco Active Multi-Sector Credit Fund investment strategies enhancement implements a new "optimized yield approach" to the fund's strategic asset allocation meant to be more dynamic, forward looking and better optimize for yield per unit of risk. The fund continues to be focused on nimble, tactical allocation across fixed-income assets, security selection as a driver of alpha, and the identification and implementation of opportunistic ideas within a highly risk-controlled investment process.
In addition, effective July 30, 2021, Invesco Canadian Endeavour Fund and Invesco Canadian Opportunity Class will change their names to Invesco Pure Canadian Equity Fund and Invesco Pure Canadian Equity Class, respectively, and change their portfolio management team as follows:
Current portfolio management team | Revised portfolio management team |
Clayton Zacharias Alan Mannik | Brian Tidd David Pirie |
Invesco regularly conducts an extensive review of its products to ensure they continue to meet the evolving needs of advisors and investors; and is making these changes to offer an enhanced lineup that better meets investor demand and expectations.
Risk Ratings Change
Invesco has also revised its investment risk ratings for the following funds:
Fund | Previous investment | New investment |
Invesco Canadian Preferred Share Index ETF Class | Low to Medium | Medium |
Invesco FTSE RAFI Emerging Markets ETF Class | High | Medium to High |
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, not a result of any changes to the investment objectives or strategies of the fund.
Operational Practices of Invesco Emerging Markets Pool
Invesco Emerging Market Select Pool will make changes to some of its operational practices in order to align those practices to that of other investment funds managed by Invesco. These changes will be effected by amending the fund's Amended and Restated Declaration of Trust.
Restriction on Deferred Sales Charge
As a result of regulatory changes, effective on or about May 31, 2022 (i) purchases into the Deferred Sales Charge option, the Low Load option and the Lower Load 4 option of an Invesco fund will no longer be permitted, and (ii) switches from the Sales Charge option into the Deferred Sales Charge option, the Low Load option and the Lower Load 4 option of an Invesco fund will no longer be permitted. Holders of units and/or shares purchased prior to on or about May 31, 2022 under the Deferred Sales Charge option, the Low Load option and the Lower Load 4 option will continue to hold those shares and/or units under the relevant purchase option.
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. (Ticker NYSE: IVZ) 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 Ltd. managed US$1.5 trillion in assets on behalf of clients worldwide as of June 30, 2021. 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.
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., 2021
Contact: Matthew Chisum [email protected] 212.652.4368
SOURCE Invesco Ltd.
Share this article