Investment objective changes to underlying fund of P75 Invesco Sterling Bond

12 Jun 2024

The directors of Invesco Funds (the “SICAV”) have notified us of amendments to their Invesco Sterling Bond fund (the “Underlying Fund”), which is the underlying fund of P75 Invesco Sterling Bond (the “Affected Mirror Fund”). These changes will take effect 15 July 2024 (the “Effective Date”)

Summary of Changes 

From the Effective date, the investment objective and policy of the Underlying Fund of the Affected Mirror Fund, will be clarified to reduce its maximum exposure to High Yield from 50% to 30% and its maximum investment in contingent convertible bonds ("CoCos") to 20%.

In addition, to better reflect the approach taken under the existing strategy, the investment objective of the Underlying Fund of the Affected Mirror Fund will be updated to disclose that the Underlying Fund will invest primarily in sterling-denominated securities (primarily being defined as representing 70% of a sub-fund's net asset value).

These changes will have no impact to the investment process, strategy or existing holdings. The Underlying Fund of the Affected Mirror Fund has historically been aligned with the new proposed restrictions around high yield, CoCos and minimum investment in sterling denominated securities.

Please refer to the Invesco Funds notification opposite for more information.

Should you have any questions regarding these changes, please contact the Investment Marketing Team.

For more information regarding Invesco Funds visit: www.Invesco.com