Toronto-based Invesco Canada Ltd. on Friday announced name changes to its lineup of mutual funds, institutional pooled funds and ETFs.
The investment objectives, strategies, and portfolio management teams remain the same for all but five mutual funds.
Changes to the investment objectives of Invesco Active Multi-Sector Credit Fund were made to allow for a global multi-sector approach. This will permit the fund to better leverage the Invesco fixed income team’s global depth and sector expertise, Invesco says in a news release.
Changes to the investment objectives of Invesco 1-5 Year Laddered Corporate Bond Index ETF Fund, Invesco Canadian Dividend Index ETF Class, Invesco Canadian Preferred Share Index ETF Class, and Invesco FTSE RAFI Canadian Index ETF Class are expected to increase trading efficiency, as the portfolio management team can invest in the Invesco ETF that tracks each fund’s respective index, rather than buying and selling the underlying securities that make up each index.
As previously announced, several PowerShares ETFs will be rebraded as Invesco ETFs. These ETFs will trade under their new names, CUSIPs and ISINs as at the open of trading on July 31.
Invesco also announced changes to the risk ratings for eight funds, effective immediately.