TORONTO, Nov. 2, 2017 /CNW/ - Invesco Canada ("Invesco")
today announced enhancements to its mutual fund lineup to help
reduce the cost of investing.
Effective November 10, 2017,
Invesco will begin to automatically link non-registered and
registered accounts held by a single investor at the same
dealership.
Individual and linked accounts with a minimum of $100,000 in aggregate assets will qualify for
preferred pricing under Invesco's Private Investor Series and will
be automatically switched into a lower-cost, Private Investor
Series of the fund, where available. For example, Series A holdings
will be switched to Series P; Series F holdings will switch to
Series PF.
Investors may also ask their advisor to link the accounts of
others within their household, as well as their business accounts,
to reach this minimum.
This service is at no cost to clients and will not cause a
taxable event.
Accounts will be reviewed on a weekly basis, and any new assets
that qualify will be switched automatically on the first business
day of the following month, beginning December 1, 2017.
Other than the applicable fees, there is no difference between
the Retail Investor Series and the Private Investor Series into
which the investors' investments would be switched upon meeting the
eligibility criteria.
If an investor ceases to meet the eligibility criteria for
Private Investor Series, their investment may be switched into a
series with a higher management and advisory fee, which will not
exceed the Retail Investor Series fees.
Certain restrictions may apply and investors should check the
prospectus. These changes are subject to regulatory approval.
Investors will not receive the Fund Facts document in connection
with an automatic switch into Private Investor Series, but may
request the Fund Facts document for the relevant series by calling
1.800.874.6275 or via e-mail to inquiries@invesco.ca. The Fund
Facts document will be delivered at no cost. Fund Facts documents
may also be found on the SEDAR website at www.SEDAR.com or at
invesco.ca.
Investors will not have the right to withdraw from an agreement
of purchase and sale in connection with an automatic switch into a
Private Investor Series. However, investors will have the right of
action for damages or rescission in the event of any
misrepresentation in the Fund Facts document or document
incorporated by reference into the Simplified Prospectus for the
relevant series, regardless of whether the investor requests the
Fund Facts document.
For more information, please visit invesco.ca. You can
also connect with Invesco on Twitter (@InvescoCanada), LinkedIn,
Facebook, or through the Invesco Canada blog.
About Invesco Ltd.
Invesco is an independent
investment management firm dedicated to delivering an investment
experience that helps people get more out of life. NYSE: IVZ;
invesco.com.
Commissions, trailing commissions, management fees and expenses
may all be associated with mutual fund investments. Mutual funds
are not guaranteed, their values change frequently and past
performance may not be repeated. Please read the simplified
prospectus before investing. Copies are available from your advisor
or Invesco Canada Ltd.
* Invesco® and all associated trademarks are
trademarks of Invesco Holding Company Limited, used under
licence.
SOURCE Invesco Canada Ltd.