Notification of changes to the underlying fund of M85 Invesco Global Opportunities
29 Mar 2022
We have been notified by Invesco Funds ("Invesco") of the following changes to the underlying fund into which the FPIL mirror fund M85 - Invesco Global Opportunities invests:
- A change of the fund’s investment strategy to reflect its new focus on investing in a concentrated portfolio of companies where the company founder(s) or (an) individual(s) with material share ownership are represented on the company management team or on the board of directors.
- A change of the fund's name to Invesco – Global Founders & owners Fund
These changes will take effect as of 29 April 2022 (the “Effective Date”), and the mirror fund will also be amended accordingly.
|Before the Effective Date
|From the Effective Date
|Mirror Fund name and code
|M85 - Invesco Global Opportunities
|M85 - Invesco Global Founders & Owners Fund (USD)
|Underlying Fund name
|Invesco Global Opportunities Fund
|Invesco Global Founders & Owners Fund
Invesco has decided to reposition the underlying fund as a thematic founder-owner strategy. The underlying fund will seek to invest in a concentrated portfolio of companies where the company founder(s) or (an) individual(s) with material share ownership are represented on the company management team or on the board of directors.
At this stage Invesco has not announced a change of objective or policy, however should the updated prospectus, due to be published on April 8 2022, contain any material changes we will notify policyholders accordingly. A copy of the notification document with full details can also be viewed opposite.
We have written to policyholders and their financial advisers to notify them of the of the changes. A sample of which can be found opposite.
A follow up mailing was dispatched 13 April 2022 to confirm to policyholders and their financial advisers that following receipt of the updated prospectus that no further material changes were made.
Should you have any questions regarding these changes, please contact the Investment Marketing Team.