TORONTO, Nov. 2, 2017 /CNW/ - Invesco Canada ("Invesco") today announced enhancements to its mutual fund lineup to help reduce the cost of investing.
Effective November 10, 2017, Invesco will begin to automatically link non-registered and registered accounts held by a single investor at the same dealership.
Individual and linked accounts with a minimum of $100,000 in aggregate assets will qualify for preferred pricing under Invesco's Private Investor Series and will be automatically switched into a lower-cost, Private Investor Series of the fund, where available. For example, Series A holdings will be switched to Series P; Series F holdings will switch to Series PF.
Investors may also ask their advisor to link the accounts of others within their household, as well as their business accounts, to reach this minimum.
This service is at no cost to clients and will not cause a taxable event.
Accounts will be reviewed on a weekly basis, and any new assets that qualify will be switched automatically on the first business day of the following month, beginning December 1, 2017.
Other than the applicable fees, there is no difference between the Retail Investor Series and the Private Investor Series into which the investors' investments would be switched upon meeting the eligibility criteria.
If an investor ceases to meet the eligibility criteria for Private Investor Series, their investment may be switched into a series with a higher management and advisory fee, which will not exceed the Retail Investor Series fees.
Certain restrictions may apply and investors should check the prospectus. These changes are subject to regulatory approval.
Investors will not receive the Fund Facts document in connection with an automatic switch into Private Investor Series, but may request the Fund Facts document for the relevant series by calling 1.800.874.6275 or via e-mail to [email protected]. The Fund Facts document will be delivered at no cost. Fund Facts documents may also be found on the SEDAR website at www.SEDAR.com or at invesco.ca.
Investors will not have the right to withdraw from an agreement of purchase and sale in connection with an automatic switch into a Private Investor Series. However, investors will have the right of action for damages or rescission in the event of any misrepresentation in the Fund Facts document or document incorporated by reference into the Simplified Prospectus for the relevant series, regardless of whether the investor requests the Fund Facts document.
About Invesco Ltd.
Invesco 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, 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 Invesco Canada Ltd.
* Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence.
SOURCE Invesco Canada Ltd.
For further information: Aysha Mawani, Vice President, Corporate Affairs, Tel: 416.324.7712, [email protected]