TORONTO, July 23, 2018 /CNW/ - Invesco Canada today announced management fee reductions and fee waivers for several of its exchange-traded funds (ETFs). These changes will take effect on or about July 27, 2018.
Investors will benefit immediately upon effect, as management fees accrue daily.
The following tables describe the reductions and waivers:
| Management fee reductions |
| Tickers |
ETF name (and new name*) |
Previous |
New |
| PLV |
PowerShares Low Volatility Portfolio ETF (to be renamed Invesco Low Volatility |
0.55 |
0.37 |
| PFH.F |
PowerShares Fundamental High Yield (to be renamed Invesco Fundamental |
0.65 |
0.55 |
| BKL.C |
PowerShares Senior Loan Index ETF (to be renamed Invesco Senior Loan |
0.80 |
0.72 |
| ULV.C |
PowerShares S&P 500 Low Volatility (to be renamed Invesco S&P 500 Low |
0.35 |
0.30 |
| PZW |
PowerShares FTSE RAFI Global Small- (to be renamed Invesco FTSE RAFI |
0.60 |
0.49 |
| PXU.F |
PowerShares FTSE RAFI U.S. (to be renamed Invesco FTSE RAFI U.S. |
0.55 |
0.44 |
| PXS |
PowerShares FTSE RAFI U.S. (to be renamed Invesco FTSE RAFI U.S. |
0.55 |
0.44 |
| DWG |
PowerShares DWA Global Momentum (to be renamed Invesco DWA Global |
0.15† |
0.05† |
| QQC.F |
PowerShares QQQ Index ETF (to be renamed Invesco QQQ Index |
0.32 |
0.25 |
| * Names will be legally changed effective July 27, 2018. ETFs will commence trading under their new names, CUSIPs and ISINs as at the open of trading on July 31, 2018. |
| † The management fee for this ETF is in addition to the management fee charged by any Invesco ETF held by it. The effective management fee paid by investors in this ETF may vary significantly from period to period depending on which Invesco ETFs are held by it and the allocations thereto. Under its Index methodology, the effective management fee, on an annualized basis, at any given time may range from 0.15% (which will become 0.05% effective on or about July 27, 2018 as a result of a management fee reduction) to 1.00% (which will become 0.90% effective on or about July 27, 2018 as a result of a management fee reduction). Please see the prospectus for more information about this ETF's index methodology and for information about the management fees, other expenses and total annual fund operating expenses for the Invesco ETFs that may be held by it. |
| Management fee waivers |
| Tickers |
ETF name (and new name*) |
Management |
Net management |
| ELV |
PowerShares S&P Emerging Markets (to be renamed Invesco S&P Emerging |
0.44 |
0.34‡ |
| PXG |
PowerShares FTSE RAFI Global+ (to be renamed Invesco FTSE RAFI |
0.60 |
0.50†† |
| * Names will be legally changed effective July 27, 2018. ETFs will commence trading under their new names, CUSIPs and ISINs as at the open of trading on July 31, 2018. |
| ‡ Waiver will remain in effect until at least February 28, 2019. The 0.10% waiver is on an annualized basis; if the waiver is for less than a year the net management fee will be higher than 0.34%. |
| †† Waiver will remain in effect until at least December 31, 2019. The 0.10% waiver is on an annualized basis; if the waiver is for less than a year the net management fee will be higher than 0.50%. |
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, management fees and expenses may all be associated with investments in exchange-traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing. Copies are available from Invesco Canada Ltd. at invesco.ca. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to the ETF. Ordinary brokerage commissions apply to purchases and sales of ETF units.
S&P® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd. LSTA® is a registered trademark of Loan Syndications and Trading Association and has been licensed for use by S&P Dow Jones Indices LLC and Invesco Canada Ltd. The S&P/LSTA U.S. Leveraged Loan 100 Index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by Invesco Canada Ltd. Invesco Canada Ltd.'s
Invesco Senior Loan Index ETF is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates or LSTA and none of S&P Dow Jones Indices LLC or its affiliates or LSTA make any representation regarding the advisability of investing in such product.
S&P®, S&P 500®, and S&P 500 Low Volatility Index™ are trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd. The S&P 500 Low Volatility Index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by Invesco Canada Ltd. Invesco Canada Ltd.'s Invesco S&P 500 Low Volatility Index ETF is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates and none of S&P Dow Jones Indices LLC or its affiliates make any representation regarding the advisability of investing in such product.
S&P® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd. The S&P BMI Emerging Markets Low Volatility Index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by Invesco Canada Ltd. Invesco Canada Ltd.'s Invesco S&P Emerging Markets Low Volatility Index ETF is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates and none of S&P Dow Jones Indices LLC or its affiliates make any representation regarding the advisability of investing in such product(s).
FTSE® is a trademark owned by the London Stock Exchange Group companies and is used by FTSE International Limited ("FTSE") under licence. The FTSE RAFI® Index Series is calculated by FTSE in conjunction with Research Affiliates LLC ("RA"). Neither FTSE nor RA sponsor, endorse or promote this product and are not in any way connected to it and do not accept any liability in relation to its issue, operation and trading. Any intellectual property rights in the Index values and constituent list vest in FTSE.
"Fundamental Index®" and/or "Research Affiliates Fundamental Index®" and/or "RAFI®" and/or all other RA trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC.
Nasdaq®, OMX®, and Nasdaq OMX® are registered trademarks of The Nasdaq OMX Group, Inc. ("Nasdaq OMX") and LadderRite® is a registered trademark of LadderRite Portfolios LLC ("LadderRite"). Nasdaq®, OMX®, Nasdaq OMX® and LadderRite® are collectively the "Marks". The Marks are used under licence to Invesco Capital Management LLC and Invesco Canada Ltd. The product(s) have not been passed on by Nasdaq OMX or LadderRite as to their legality or suitability. The product(s) are not issued, endorsed, sold, or promoted by Nasdaq OMX or LadderRite, and NASDAQ OMX AND LADDERRITE MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
Invesco Canada Ltd. ("Invesco") has obtained a license from Dorsey, Wright & Associates, LLC ("Dorsey Wright") for use of certain Dorsey Wright trademarks and the Dorsey Wright Global Technical Leaders Index ("Index"). Such trademarks and Index have been developed by Dorsey Wright without regard to and independently of Invesco, this product, and/or any prospective investor. A determination that any portion of an investor's portfolio should be devoted to any product developed by Invesco with reference to a Dorsey Wright index is a determination made solely by the investor, not Dorsey Wright or Invesco. The licensing of any index to Invesco is not an offer to purchase or sell, or a solicitation or an offer to buy any security.
Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. PowerShares® and all associated trademarks are trademarks of Invesco Capital Management LLC used under licence.
© Invesco Canada Ltd., 2018
SOURCE Invesco Canada Ltd.
Aysha Mawani, Vice President, Corporate Affairs, Tel: 416.324.7712, [email protected]
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