Notification of changes to the underlying fund of M85 Invesco Global Select Equity
19 September 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 into which the above named fund invests.
The Underlying Fund into which the above named fund invests was invested into a sub-fund of Invesco Funds Series (the “Merging Fund”), Irish umbrella. The Company have informed that the Merging Fund has merged with a sub-fund of Invesco Funds (the “Receiving Fund”), Luxembourg umbrella, with effect from 07 September 2018.
Below are the key areas for your attention, which we have extracted from the shareholder notice of the underlying fund of the above named fund.
|
Before 07 September 2018 |
With Effect From 07 September 2018 |
|
|
Fund Name |
Invesco Global Select Equity |
Invesco Global Opportunities |
|
Fund Code |
M85 |
M85 |
|
Underlying Fund |
Invesco Funds Series – Invesco Global Select Equity |
Invesco Funds – Invesco Global Opportunities |
|
Underlying Fund ISIN |
IE0030382356 |
LU1762220934 |
|
Structure |
Unit Trust |
SICAV |
|
Country of Establishment |
Ireland |
Luxembourg |
|
Manager/Management Company |
Invesco Global Asset Management DAC |
Invesco Management S.A. |
|
Management Fee |
1.50% |
1.40% |
|
Ongoing Charges |
2.05% |
1.75% |
|
Underlying Fund Investment Objective and Policy |
This Fund is invested to achieve capital growth in international securities. The Manager will invest mainly in shares of companies quoted on the world’s stock markets, although it may include other investments that the Manager considers appropriate. The Fund may enter into financial derivative instruments as set out in the Prospectus (Section 7 (Investment Restrictions)), for efficient portfolio management and hedging purposes only. |
The objective of the Fund is to achieve long-term capital growth. The Fund intends to achieve its objective by investing primarily in a concentrated portfolio of global equities, with a market capitalization of at least USD 1 billion at the time of initial investment. Up to 30% of the NAV of the Fund may be invested in aggregate in cash, cash equivalents, Money Market Instruments or other eligible Transferable Securities of issuers worldwide. The Fund may enter into financial derivative instruments for efficient portfolio management and hedging purposes only. |
To facilitate the merger of the underlying fund, dealing on M85 Invesco Global Select Equity was temporarily suspended for 3 days from 05 September 2018 to 07 September 2018. Please note that instructions received for M85 after 5pm (UK time) cut off time on 04 September 2018 will not have transacted until the next available dealing date of 10 September 2018.
Should you have any questions regarding these changes, please contact International Funds & Investments.