Notification of a changes to various Invesco funds

30 June 2020

J01 Invesco Bond

J02 Invesco Asian Equity

J38 Invesco Emerging Markets Equity

J57 Invesco Global Health Care

J58 Invesco US Equity

J73 Invesco UK Equity (USD)

L40 Invesco Continental European Small Cap Equity

L45 Invesco India Bond

L48 Invesco Global Targeted Returns (USD HDG)

M85 Invesco Global Opportunities

M87 Invesco Global Small Cap Equity

P55 Invesco UK Equity (GBP)

P74 Invesco Euro Corporate Bond

P75 Invesco Sterling Bond

R25 Invesco Asia Opportunities Equity

 

We have been notified by Invesco Management S.A. (“The Company”) of the upcoming update to disclosures regarding swing pricing mechanism of the underlying funds of the mirror funds named above. This update will take effect from 29 July 2020 (the “Effective Date”).

The Company has confirmed the following update:

The Board of Directors has taken the decision to update the disclosures regarding swing pricing mechanism as disclosed in Section 6.2 (Calculation of assets and liabilities) of the prospectus to allow the adjustment applicable to a specific Fund to exceed 2% of the original NAV per Share on a temporary basis under exceptional market conditions (such as high market volatility) (i) where it is believed that the price adjustment limit of 2% currently stated in the prospectus does not adequately reflect the disconnect between prices used in the NAV calculation and the dealing and other costs and (ii) where justified by the best interest of Shareholders. When this happens investors will be given prior notice on the Website of the Management Company.

 

Changes to J57 Invesco Global Health Care

For J57 Invesco Global Health Care there will be a change of name, clarification of the investment objective and policy and reduction of management fees. This change will also take effect from the Effective Date. The Company have confirmed this is in order to better reflect the thematic investment approach. In order to be in line with the new fund’s name, it will be clarified in the investment objective and policy that the fund seeks to invest in innovative healthcare companies throughout the world and that the Investment Manager classifies companies as innovative based on criteria such as their products, services, processes, business models, management, use of technology or approach to serving health care needs.

	Before 29 July 2020 After 29 July 2020	Before 29 July 2020 After 29 July 2020
Name of mirror fund	J57 Invesco Global Health Care	J57 Invesco Global Health Care Innovation
Name of underlying fund	Invesco Global Health Care Fund	Invesco Global Health Care Innovation Fund
Management Fee	1.50%	1.00%

 

The Company have confirmed the above modifications will not change the way the fund is managed nor will it result in any change to the risk profile of the fund.

Should you have any questions regarding these changes, please contact International Funds & Investments.