Notification of changes to the underlying fund of J01 Invesco Bond
31 October 2018
Friends Provident International Limited (“Friends Provident International”) has been notified by Invesco Global Asset Management DAC (“The Company”) of the merger of the underlying fund of J01 Invesco Bond.
The underlying fund of J01 Invesco Bond invested into sub-funds of Invesco Funds Series 2 (the “Merging Fund”), Irish Umbrella. With effective from 05 October 2018 (the “Effective Date”), the Merging Fund has merged with sub-funds of Invesco Funds (the “Receiving Fund”), Luxembourg umbrella.
The Company has stated:
“The merger proposal is being undertaken in order to simplify Invesco’s cross-border fund offering and improve the client experience. This will be achieved by reducing the number of umbrellas, thereby creating efficiencies for clients in their interaction with Invesco. The Receiving Fund has been set up with the same characteristics as the Merging Fund, thereby allowing for long term continuity and track record of the strategy. As Invesco Funds has a wider distribution network than Invesco Funds Series 2, it is envisaged that this network will also help increase the assets under management of the Receiving Fund. This will benefit Shareholders through an increase in economies of scale.”
The Company has confirmed that the merger proposal of the underlying fund was approved by the requisite majority. As a result, the changes that have been made to J01 Invesco Bond are detailed in the table below.
|
Before 05 October 2018 |
With Effect From 05 October 2018 |
|
|
Fund Name |
Invesco Bond |
Invesco Bond |
|
Fund Code |
J01 |
J01 |
|
Underlying Umbrella Fund |
Invesco Funds Series 2 – Invesco Bond Fund |
Invesco Funds – Invesco Bond Fund |
|
Underlying Fund ISIN |
IE0003702200 |
LU1775948224 |
|
Structure |
Unit Trust |
SICAV |
|
Country of Establishment |
Ireland |
Luxembourg |
|
Manager/Management Company |
Invesco Global Asset Management DAC |
Invesco Management S.A. |
|
Management Fee |
0.50% |
0.50% |
|
Ongoing Charges |
0.66% |
0.66% |
Should you have any questions regarding these changes, please contact International Funds & Investments.