TORONTO, Oct. 15, 2020 /CNW/ -- Invesco Canada Ltd. ("Invesco") today announced voting results on proposals put forth at securityholder meetings held virtually today.
Securityholders approved changes to the investment objectives of three Invesco Canada funds – the Invesco Tactical Bond ETF (PTB), the Invesco Tactical Bond ETF Fund, and the Invesco DWA Global Momentum Index ETF (DWG). Securityholders also approved a change to the management fees for DWG.
The firm will rename and change the management fees, investment objectives and portfolio management teams for the following funds, effective October 30, 2020. Each of the funds will also change its investment strategies to align them with its new investment objectives. In the case of DWG, there will also be a change to the sub-advisory structure as noted below. DWG and PTB will also change their tickers as described below.
Current |
New |
|
Fund Name |
Invesco Tactical Bond ETF |
Invesco ESG Canadian Core Plus Bond ETF |
Fund Ticker |
PTB |
BESG |
Management Fee (% of NAV) |
0.49% |
0.35% |
Sub-advisor |
Invesco Advisers, Inc. Invesco Capital Management LLC |
Invesco Advisers, Inc. |
Management team |
Scott Wolle Mark Ahnrud Chris Devine Scott Hixon Christian Ulrich |
Todd Schomberg Avi Hooper Matthew Brill Michael Hyman |
Current |
New |
|
Fund Name |
Invesco Tactical Bond ETF Fund |
Invesco ESG Canadian Core Plus Bond ETF Fund |
Effective Management and Advisory Fee (Series A, T4, T6) (% of NAV) |
0.90%† |
0.85% |
Effective Management and Advisory Fee (Series F, F4, F6) (% of NAV) |
0.40%† |
0.35% |
†For the most recently completed financial year as at March 31, 2020. The Fund currently pays a stated management and advisory fee, as well as the portion of the management and advisory fees charged by the underlying funds held by the Fund that are not for duplicative services, The current effective management and advisory fee shown in the chart above is the total of these management and advisory fees.
BESG's and Invesco ESG Canadian Core Plus Bond ETF Fund's investment objectives will be as follows:
Each fund seeks to provide investment returns through a combination of income and capital growth. Each fund invests, directly or indirectly, primarily in debt securities issued by Canadian federal, provincial or municipal governments and companies while integrating environmental, social and governance (ESG) criteria as part of the fundamental evaluation of investment opportunities.
Under its investment strategies, Invesco ESG Canadian Core Plus Bond ETF Fund will invest primarily in BESG.
Current |
New |
|
Fund Name |
Invesco DWA Global Momentum Index ETF |
Invesco S&P 500 Momentum Index ETF |
Fund Ticker |
DWG DWG.F DWG.U |
MOM MOM.F MOM.U |
Management Fee (% of NAV) |
0.05%† in addition to the management fees charged by the underlying ETFs DWG may hold (e.g. PIE, PIZ, PDP, DWAS). |
0.18% |
† The management fee for this ETF is in addition to the management fee charged by any Invesco ETF held by it. The effective management fee paid by investors in this ETF may vary significantly from period to period depending on which Invesco ETFs are held by it and the allocations thereto. Under its Index methodology, the effective management fee, on an annualized basis, at any given time may range from 0.05% to 0.90%. Please see the prospectus for more information about this ETF's index methodology and for information about the management fees, other expenses and total annual fund operating expenses for the Invesco ETFs that may be held by it.
MOM's investment objectives will be as follows:
Invesco S&P 500 Momentum Index ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the S&P 500® Momentum Index, or any successor thereto, on an unhedged basis, in the case of any unhedged units, or on a hedged basis, in the case of any hedged units. This fund invests, directly or indirectly, primarily in U.S. equity securities.
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 August 31, 2020. For more information, visit 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.
Invesco Canada Ltd. ("Invesco") has obtained a licence from Dorsey, Wright & Associates, LLC ("Dorsey Wright") for use of certain Dorsey Wright trademarks and the Dorsey Wright Global Technical Leaders Index ("Index"). Such trademarks and Index have been developed by Dorsey Wright without regard to and independently of Invesco, this product, and/or any prospective investor. A determination that any portion of an investor's portfolio should be devoted to any product developed by Invesco with reference to a Dorsey Wright index is a determination made solely by the investor, not Dorsey Wright or Invesco. The licensing of any index to Invesco is not an offer to purchase or sell, or a solicitation or an offer to buy any security.
S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd.
The S&P 500® Momentum Index (the "Index") is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by Invesco Canada Ltd. Standard & Poor's®, S&P®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and has been licensed for use by SPDJI. This Invesco ETF is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index.
The S&P EPAC Ex. Korea Low Volatility Index (the "Index") is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by Invesco Canada Ltd. Standard & Poor's®, and S&P®, are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and has been licensed for use by SPDJI. Invesco ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index.
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.
Some ETFs seek to replicate, before fees and expenses, the performance of the applicable index, and are not actively managed. This means that the sub-advisor will not attempt to take defensive positions in declining markets and the ETF will continue to provide exposure to each of the securities in the index regardless of whether the financial condition of one or more issuers of securities in the index deteriorates. In contrast, if an ETF is actively managed, then the subadvisor has discretion to adjust that ETF's holdings in accordance with the ETF's investment objectives and strategies.
Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence.
© Invesco Canada Ltd., 2020
Contact: Gina Simonis, Invesco Media Relations 917-715-8339
SOURCE Invesco Ltd.
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