PBP, CQQQ and RYJ to reduce fees; fee waiver extended for
ICLO
ATLANTA, Jan. 4, 2024
/PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset
management firm, has announced that it will implement changes to
four 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 Jan.
1, Invesco has agreed to extend the fee waiver for Invesco
AAA CLO Floating Rate Note ETF (ICLO) through April 30, 2024.
Effective at market open on Jan.
5, Invesco's management fee for Invesco China Technology ETF
(CQQQ) will be reduced from 70 bps to 65 bps, and the management
fee for Invesco S&P 500 BuyWrite ETF (PBP) will be reduced from
49 bps to 29 bps.
Fund
name
|
Ticker
|
Current
mgmt. fee
(bps)
|
Effective
net mgmt.
fee
(bps)
|
Effective
|
Invesco AAA CLO
Floating Rate
Note ETF
|
ICLO
|
26
|
0*
|
Jan. 1, 2024
– April 30,
2024
|
Invesco China
Technology ETF
|
CQQQ
|
70
|
65
|
Jan. 5, 2024
|
Invesco S&P
BuyWrite ETF
|
PBP
|
49
|
29
|
Jan. 5, 2024
|
*
|
The Adviser has
voluntarily agreed to extend the fee waiver previously set to
expire on Dec. 31, 2023, waiving 100% of its management fee for the
Fund through April 30, 2024.
|
Also effective at market open on March
25, Invesco's management fee for Invesco Raymond James SB-1
Equity ETF (RYJ) will be reduced from 75 bps to 40 bps, and Invesco
will make modifications to the name, ticker and underlying index of
RYJ, as outlined below.
Current
fund name
(ticker)
|
Current
index
|
Current
index
provider
|
New fund
name (ticker)
|
New
index
|
New index
provider
|
Current
mgmt.
fee
(bps)
|
Effective
net
mgmt.
fee (bps)
|
Effective
|
Invesco
Raymond
James SB-1
Equity ETF
(RYJ)
|
Raymond
James
SB-1
Equity
Index
|
Raymond
James
Research
Services,
LLC
|
Invesco
Bloomberg
Analyst Rating
Improvers
ETF (UPGD)
|
Bloomberg
ANR
Improvers
Index
|
Bloomberg
Index
Services
Limited
|
75
|
40
|
March 25,
2024
|
In addition to the changes mentioned above, effective at market
open on Jan. 25, PBP's listing will
transfer from NYSE Arca to Cboe BZX Exchange, as outlined
below.
Fund
name
|
Ticker
|
Current
exchange
|
New
exchange
|
Effective
|
Invesco S&P
BuyWrite ETF
|
PBP
|
NYSE Arca
|
Cboe BZX
Exchange
|
Jan. 25,
2024
|
"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 $1.49 trillion in assets on behalf of clients
worldwide as of Sept. 30, 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.
01/24 NA3306620
Contact: Rachael Peng,
+713.214.4193 rachael.peng@invesco.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/invesco-announces-changes-to-four-etfs-302026704.html
SOURCE Invesco Ltd.