TORONTO, Nov. 5, 2018 /CNW/ - Invesco Canada today proposed changes to Invesco S&P International Developed Low Volatility Index ETF (ILV). The changes are subject to securityholder approval and a securityholder meeting will be held at Invesco's offices in Toronto on or about January 15, 2019.
The current investment objectives of ILV are:
The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the S&P BMI International Developed Low Volatility Index, or any successor thereto. ILV invests, directly or indirectly, primarily in low volatility equity securities of companies located in developed markets, excluding the United States.
Invesco Canada is seeking securityholder approval to change the investment objectives of ILV. If approved, ILV's investment objectives would be changed to:
The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the S&P EPAC ex-Korea Low Volatility 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. ILV invests, directly or indirectly, primarily in low volatility equity securities of companies located in developed markets within the Europe and Asia Pacific regions, excluding Korea.
The implementation of this investment objective change is also subject to acceptance by the Toronto Stock Exchange.
If the foregoing investment objective change is approved, Invesco Canada also proposes to change ILV's expenses payable which are also subject to securityholder approval. The Independent Review Committee ("IRC") of ILV has reviewed the potential conflict of interest matters related to the proposed change in expenses payable by ILV to include expenses related to tax agents and tax reclaims, and has advised Invesco Canada that, after reasonable inquiry, in the IRC's opinion, the proposed change in expenses payable by ILV achieves a fair and reasonable result for ILV.
Further details will be provided to securityholders in a proxy package that will be mailed in December and in a management information circular that will be available online via www.sedar.com. If the proposals are approved, the changes will be made effective in the first quarter of 2019.
About Invesco Ltd.
Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; invesco.com.
Commissions, management fees and expenses may all be associated with investments in exchange-traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. 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.
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 sub-advisor has discretion to adjust that ETF's holdings in accordance with the ETF's investment objectives and strategies.
The S&P BMI International Developed 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.
Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence.
© Invesco Canada Ltd., 2018
SOURCE Invesco Canada Ltd.
For further information: Aysha Mawani, Vice President, Corporate Affairs, Tel: 416.324.7712, [email protected]