Toronto-based Invesco Canada Ltd. is closing four funds.
Those funds are: Invesco Canadian Core Plus Bond Class; Invesco Short-Term Income Class; Invesco Energy Class and Invesco Resources Fund.
Subject to approval, the closures will be effective Aug. 7 and investors will receive a 60-day notice next month. All four funds are closed to new investors, while existing investors can make purchases until July 24.
Toronto-based Purpose Investments Inc. also announced a fund closure on Friday. Effective July 20, the asset manager will terminate the Purpose Pension Portfolio Fund.
The decision to shutter that fund, and redeem all issues and shares of its various series, was made because of its “relatively low assets under management and the costs associated with maintaining a fund of this size,” the company said in a release.
Shares of the portfolio fund are no longer available for purchase.