PLW to reduce fees; ICLO and GTO implement fee
waivers
ATLANTA, June 28,
2023 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a
leading global asset management firm, has announced that it will
implement a management fee reduction or fee waiver for three ETFs
as further outlined below. These changes reflect Invesco's
commitment to continually evaluate its product line and provide a
better investment experience for its clients.
Effective at market open on June
26, Invesco's management fee for Invesco 1-30 Laddered
Treasury ETF (PLW) was reduced from 25 bps to 15 bps.
Effective at market open on June
28, Invesco has agreed to waive a portion of its management
fee through Aug. 31, 2025, for
Invesco Total Return Bond ETF (GTO) and waive its entire management
fee through Dec. 31, 2023, for
Invesco AAA CLO Floating Rate Note ETF (ICLO). After giving effect
to such waiver, GTO's net unitary management fee will be 25 basis
points and ICLO's total expense ratio will be 0 basis points
through Dec. 31, 2023. These changes
are outlined below.
Fund
name
|
Ticker
|
Current
mgmt. fee
(bps)
|
Effective
net mgmt.
fee (bps)
|
Effective
period
|
Invesco 1-30
Laddered
Treasury ETF
|
PLW
|
25
|
15
|
June 26, 2023
(permanent)
|
Invesco Total Return
Bond ETF
|
GTO
|
50
|
25*
|
June 28, 2023 – Aug.
31,
2025
|
Invesco AAA CLO
Floating
Rate Note ETF
|
ICLO
|
26
|
0**
|
June 28, 2023 – Dec.
31,
2023
|
*
|
The Adviser has
contractually agreed to waive fees and/or pay certain Fund expenses
through at least Aug. 31, 2025.
|
**
|
The Adviser has
voluntarily agreed to waive 100% of its management fee for the Fund
through Dec. 31, 2023.
|
|
|
"Bps" refers to the
unit of measurement known as "basis points," used to describe a
percentage value or rate. One basis point is equivalent to 0.01%
(1/100th of a percent) or 0.0001 in decimal form.
|
|
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive, and alternative investment capabilities. With
offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients
worldwide as of March 31, 2023. For
more information, visit www.invesco.com.
Important Information
Not a Deposit | Not FDIC Insured | Not
Guaranteed by the Bank | May Lose Value |
Not Insured by any Federal Government Agency
There are risks involved with investing in ETFs, including
possible loss of money. Shares are not actively managed and are
subject to risks similar to those of stocks, including those
regarding short selling and margin maintenance requirements.
Ordinary brokerage commissions apply. The Fund's return may not
match the return of the Underlying Index. The Fund is subject to
certain other risks. Please see the current prospectus for more
information regarding the risk associated with an investment in the
Fund.
Investments focused in a particular industry or sector are
subject to greater risk, and are more greatly impacted by market
volatility, than more diversified investments.
Interest rate risk refers to the risk that bond prices generally
fall as interest rates rise and vice versa. An issuer may be unable
to meet interest and/or principal payments, thereby causing its
instruments to decrease in value and lowering the issuer's credit
rating.
Shares are not individually redeemable and owners of the Shares
may acquire those Shares from the Fund and tender those Shares for
redemption to the Fund in Creation Unit aggregations only,
typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000,
100,000 or 150,000 Shares.
Before investing, investors should carefully read the
prospectus/summary prospectus and carefully consider the investment
objectives, risks, charges and expenses. For this and more complete
information about the Fund call 800 983 0903 or visit invesco.com
for the prospectus/summary prospectus.
Invesco Distributors, Inc. is the US distributor for Invesco's
retail products and private placements, and Invesco Capital
Management LLC is the investment adviser for ETFs. Both entities
are indirect, wholly owned subsidiaries of Invesco Ltd.
06/26 NA2973428
Contact: Jeaneen Terrio,
+917.714.0358 jeaneen.terrio@invesco.com
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SOURCE Invesco Ltd.