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Invesco Canada has updated the investment strategy of PowerShares Monthly Income Fund, which will be renamed Invesco Monthly Income ETF Portfolio.

The changes provide the management team with greater flexibility in the selection of underlying strategies and the ability to invest in ETFs.

Read: Continued growth expected for ETFs: report

The changes aim to create a more diversified portfolio that can potentially provide lower volatility and higher risk-adjusted returns, while maintaining a focus on monthly income generation.

The fund’s combination of high-yielding common equities and preferred shares, coupled with high-yield and corporate bonds, results in a balanced yield portfolio. The portfolio provides a diversified source of dividend and interest income along with growth potential from stock price increases.

All changes will be effective at the close of business on Jan. 19, 2018.

Also read:

ETF inflows increase at fastest pace ever for BlackRock iShares

Horizons ETFs announces consolidation of a fund

Originally published on Advisor.ca
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