Invesco Canada is enhancing the offering of its innovative Platform Traded Fund (PTFs), effective March 12, 2018.
Designed for fee-based accounts, PTFs transact and settle like listed securities or exchange-traded funds. Developed by Invesco Canada and introduced in 2015, the funds aim to deliver active investment management at a cost comparable to institutional pricing.
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PTF enhancements
The fixed-rate expense fees on all PTFs will be reduced. These fixed fees partially cover the funds’ operating expenses. Any operating expenses beyond these amounts are paid by Invesco Canada.
Fixed-rate expense fee reductions
Fund | Series | Current fixed-rate expense fee | Reduced fixed- rate expense fee | |||
---|---|---|---|---|---|---|
Invesco Canadian Bond Fund | PTF | 0.20% | 0.05% | |||
Invesco Global Bond Fund | PTF | 0.20% | 0.10% | |||
Invesco Advantage Bond Fund | PTF | 0.20% | 0.15% | |||
Invesco Global High Yield Bond Fund | PTF | 0.20% | 0.15% | |||
Invesco Floating Rate Income Fund | PTF | 0.20% | 0.15% | |||
Trimark Diversified Yield Class | PTF | 0.20% | 0.15% | |||
Trimark Global Diversified Income Fund | PTF | 0.20% | 0.15% | |||
Invesco Global Monthly Income Fund | PTF | 0.20% | 0.15% | |||
Trimark Global Balanced Class | PTF | 0.20% | 0.15% | |||
Trimark Canadian Endeavour Fund | PTF | 0.20% | 0.15% | |||
Trimark Canadian Opportunity Class | PTF | 0.20% | 0.15% | |||
Trimark Canadian Plus Dividend Class | PTF | 0.20% | 0.15% | |||
Invesco Canadian Premier Growth Class | PTF | 0.20% | 0.15% | |||
Trimark U.S. Companies Class | PTF, PTFU | 0.20% | 0.15% | |||
Trimark U.S. Small Companies Class | PTF, PTFU | 0.20% | 0.15% | |||
Trimark Global Dividend Class | PTF | 0.20% | 0.15% | |||
Invesco Global Dividend Income Fund | PTF | 0.20% | 0.15% | |||
Trimark Fund | PTF, PTFU | 0.20% | 0.15% | |||
Trimark Global Fundamental Equity Class | PTF | 0.20% | 0.15% | |||
Trimark Global Endeavour Class | PTF, PTFU | 0.20% | 0.15% | |||
Trimark Global Small Companies Class | PTF, PTFU | 0.20% | 0.15% | |||
Invesco Global Growth Class | PTF, PTFU | 0.20% | 0.15% | |||
Trimark International Companies Class | PTF | 0.20% | 0.15% | |||
Invesco International Growth Class | PTF, PTFU | 0.20% | 0.15% | |||
Invesco European Growth Class | PTF, PTFU | 0.20% | 0.15% | |||
Trimark Europlus Fund | PTF, PTFU | 0.20% | 0.15% | |||
Invesco Indo-Pacific Fund | PTF, PTFU | 0.30% | 0.20% | |||
Trimark Emerging Markets Class | PTF, PTFU | 0.30% | 0.20% | |||
Trimark Energy Class | PTF | 0.20% | 0.15% | |||
Trimark Resources Fund | PTF | 0.20% | 0.15% | |||
Invesco Global Real Estate Fund | PTF, PTFU | 0.20% | 0.15% |
Invesco will also reduce the management and advisory fees (MAFs) on the following PTFs:
Fund | Series | Current management fee | Reduced management fee |
---|---|---|---|
Trimark Global Balanced Class | PTF | 0.60% | 0.55% |
Trimark U.S. Companies Class | PTF, PTFU | 0.70% | 0.55% |
Invesco Indo-Pacific Fund | PTF, PTFU | 0.80% | 0.75% |
Trimark Emerging Markets Class | PTF, PTFU | 0.80% | 0.75% |
Trimark Energy Class | PTF | 0.80% | 0.75% |
Trimark Resources Fund | PTF | 0.80% | 0.75% |
Invesco Global Real Estate Fund | PTF, PTFU | 0.80% | 0.75% |
Note on MER reporting
The fee reductions above won’t be immediately reflected in the published management expense ratio (MER) for any given PTF.
MERs are based on the fees applied during the previous calculation period. They are calculated and published twice a year: on June 30 and Dec. 31 for funds with a Dec. 31 year-end, and on Mar. 31 and Sept. 30 for funds with a Mar. 31 year-end.
As such, published MERs will fully reflect the lower fees on June 30, 2019, for funds with a Dec. 31 year-end, and on Mar. 31, 2019, for funds with a Mar. 31 year-end.
Risk rating change
Invesco Canada has also changed the risk rating for the following funds, effective as of Feb. 23, 2018:
Fund | Current risk classification | Revised risk classification |
---|---|---|
Invesco Indo-Pacific Fund | Medium to high | Medium |
Trimark Resources Fund | Medium to high | High |
Risk rating changes were made in accordance with the risk classification methodology introduced by Canadian Securities Administrators to determine the risk level of mutual funds. There are no changes to the investment objectives, strategies or management of the funds.
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