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Invesco makes two fund mergers


Invesco is merging the US Equity Fund into the Invesco US Structured Equity Fund and the Invesco Global Telecom Fund into the Invesco Global Technology Fund.

The US Equity Fund and the US Structured Equity Fund are US equity funds which operate under broadly the same investment criteria.

The majority of the equities held in the Invesco US Equity Fund are also held in the portfolio of the Invesco US Structured Equity Fund. Both funds are currently managed by the same Invesco investment team in New York.

Merging the two funds is expected to be beneficial for the shareholders of the Invesco US Structured Equity Fund as its total expense ratio is expected to decline due to the larger asset base after the merger.

The Invesco Global Telecom Fund and the Invesco Global Technology Fund pursue similar investment objectives and are managed by the same investment adviser in the US. The higher AUM resulting from the fund merger should make the Invesco Global Technology Fund more cost effective and economical which, in turn, should have a positive effect on its TER.

The fund mergers are a consequence of Invesco’s recent review of its range of funds.

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