Invesco reduces fees, caps expenses for funds

Invesco Canada is reducing the management and advisory fees (MAFs) on select series across several funds, effective May 23, 2017. Operating expenses for select fee-based series of certain funds are also being capped.

The reductions and caps are expected to affect 75 fund series immediately, beginning May 23, 2017, since MAFs and operating expenses accrue daily. Of those, Invesco expects MERs will be reduced by an average of 0.17 percentage points. Depending on the series, the MER may be reduced by as much as 0.53 percentage points.

The operating expense caps will also provide cost certainty to investors in the funds that aren’t seeing immediate impact.

Invesco calculates and publishes MERs semi-annually, based on fees applied during the previous calculation period. As such, the MERs on affected funds with a December 31 year-end will reflect the fee reductions on June 30, 2018. For funds with a March 31 year-end, the MERs will reflect the fee reductions on September 30, 2018.

Changes are detailed in the tables below.

Management fee reductions
Fund	Series	Previous MAF	New MAF
Invesco Canadian Balanced Fund	F PF	1.00% 0.85%	0.85% 0.70%
Invesco Canadian Bond Fund	F	0.75%	0.65%
Invesco Core Canadian Balanced Class	F	1.00%	0.85%
Invesco Global Bond Fund	A P F PF PTF	1.25% 1.15% 0.75% 0.65% 0.65%	1.15% 1.05% 0.65% 0.55% 0.55%
Invesco Short-Term Bond Fund	F	0.75%	0.65%
Trimark Canadian Plus Dividend Class	F PF	1.00% 0.85%	0.85% 0.70%
Trimark Diversified Yield Class	F, F8 PF, PF6	1.00% 0.85%	0.85% 0.70%
Trimark Global Balanced Class	F, F4, F6, FH PF, PF4, PF6, PFH PTF	1.00% 0.85% 0.70%	0.85% 0.70% 0.60%
Trimark Global Balanced Fund	F PF	1.00% 0.85%	0.85% 0.70%
Trimark Global Diversified Income Fund	A P F PF PTF	2.00% 1.85% 1.00% 0.85% 0.70%	1.80% 1.65% 0.80% 0.65% 0.55%
Trimark Global Dividend Class	F, F4, F6, FH PF, PF4, PF6, PFH PTF	1.00% 0.85% 0.70%	0.85% 0.70% 0.60%
Trimark Income Growth Fund	F PF	1.00% 0.85%	0.85% 0.70%
Trimark Select Balanced Fund	F PF	1.00% 0.85%	0.85% 0.70%

Management fee reductions

Fund

Series

Previous MAF

New MAF

Invesco Canadian Balanced Fund

1.00%

0.85%

0.70%

Invesco Canadian Bond Fund

0.75%

0.65%

Invesco Core Canadian Balanced Class

1.00%

0.85%

Invesco Global Bond Fund

PTF

1.25%

1.15%

0.75%

0.65%

1.15%

1.05%

0.65%

0.55%

Invesco Short-Term Bond Fund

0.75%

0.65%

Trimark Canadian Plus Dividend Class

1.00%

0.85%

0.70%

Trimark Diversified Yield Class

F, F8

PF, PF6

1.00%

0.85%

0.70%

Trimark Global Balanced Class

F, F4, F6, FH

PF, PF4, PF6, PFH

PTF

1.00%

0.85%

0.70%

0.85%

0.70%

0.60%

Trimark Global Balanced Fund

1.00%

0.85%

0.70%

Trimark Global Diversified Income Fund

PTF

2.00%

1.85%

1.00%

0.85%

0.70%

1.80%

1.65%

0.80%

0.65%

0.55%

Trimark Global Dividend Class

F, F4, F6, FH

PF, PF4, PF6, PFH

PTF

1.00%

0.85%

0.70%

0.85%

0.70%

0.60%

Trimark Income Growth Fund

1.00%

0.85%

0.70%

Trimark Select Balanced Fund

1.00%

0.85%

0.70%

Operating expense caps
Fund	Series	Operating expense cap
Invesco Advantage Bond Fund	F	0.20%
Invesco Canadian Balanced Fund	F, PF	0.20%
Invesco Canadian Bond Class	PF	0.20%
Invesco Canadian Bond Fund	F, PF	0.20%
Invesco Canadian Premier Growth Class	F, PF	0.20%
Invesco Canadian Premier Growth Fund	F	0.20%
Invesco Core Canadian Balanced Class	F	0.20%
Invesco Emerging Markets Debt Fund	F, PF	0.20%
Invesco European Growth Class	F, PF, PF6	0.25%
Invesco Floating Rate Income Fund	F, PF	0.20%
Invesco Global Bond Fund	F, PF	0.20%
Invesco Global Dividend Income Fund	F, PF	0.25%
Invesco Global Growth Class	F, PF	0.25%
Invesco Global High Yield Bond Fund	F	0.20%
Invesco Global Monthly Income Fund	F, PF	0.20%
Invesco Global Real Estate Fund	F	0.25%
Invesco Indo-Pacific Fund	F	0.25%
Invesco Intactive 2023 Portfolio	F	0.20%
Invesco Intactive 2028 Portfolio	F	0.20%
Invesco Intactive 2033 Portfolio	F	0.20%
Invesco Intactive 2038 Portfolio	F	0.20%
Invesco Intactive Balanced Growth Portfolio	F, PF	0.20%
Invesco Intactive Balanced Growth Portfolio Class	F, PF	0.20%
Invesco Intactive Balanced Income Portfolio	F, PF	0.20%
Invesco Intactive Balanced Income Portfolio Class	F, F4, F6, PF, PF4, PF6	0.20%
Invesco Intactive Diversified Income Portfolio	F, PF	0.20%
Invesco Intactive Diversified Income Portfolio Class	F, F4, F6, PF, PF4, PF6	0.20%
Invesco Intactive Growth Portfolio	F, PF	0.20%
Invesco Intactive Growth Portfolio Class	F, PF	0.20%
Invesco Intactive Maximum Growth Portfolio	F, PF	0.20%
Invesco Intactive Maximum Growth Portfolio Class	F, PF	0.20%
Invesco Intactive Strategic Yield Portfolio	F, F4, F6, PF	0.20%
Invesco International Growth Class	F, FH, PF, PFH	0.25%
Invesco International Growth Fund	F	0.25%
Invesco Select Canadian Equity Fund	F	0.20%
Invesco Short-Term Bond Fund	F	0.20%
Invesco Short-Term Income Class	F	0.20%
Trimark Canadian Class	F, PF	0.20%
Trimark Canadian Endeavour Fund	F, PF	0.20%
Trimark Canadian Fund	F	0.20%
Trimark Canadian Opportunity Class	F, PF	0.20%
Trimark Canadian Opportunity Fund	F	0.20%
Trimark Canadian Plus Dividend Class	F, PF	0.20%
Trimark Canadian Small Companies Fund	F, PF	0.20%
Trimark Diversified Yield Class	F, F8, PF, PF6	0.20%
Trimark Emerging Markets Class	F, PF	0.25%
Trimark Energy Class	F	0.25%
Trimark Europlus Fund	F, PF	0.25%
Trimark Fund	F, PF	0.25%
Trimark Global Balanced Class	F, F4, F6, FH, PF, PF4, PF6, PFH	0.20%
Trimark Global Balanced Fund	F, PF	0.20%
Trimark Global Diversified Income Fund	F, PF	0.20%
Trimark Global Dividend Class	F, F4, F6, FH, PF, PF4, PF6, PFH	0.25%
Trimark Global Endeavour Class	F, FH, PF, PFH	0.25%
Trimark Global Endeavour Fund	F, PF	0.25%
Trimark Global Fundamental Equity Class	F, FH, PF	0.25%
Trimark Global Fundamental Equity Fund	F	0.25%
Trimark Global Small Companies Class	F, PF	0.25%
Trimark Income Growth Fund	F, PF	0.20%
Trimark International Companies Class	F, PF	0.25%
Trimark International Companies Fund	F	0.25%
Trimark Resources Fund	F	0.25%
Trimark Select Balanced Fund	F, PF	0.20%
Trimark U.S. Companies Class	F, FH, PF, PFH	0.20%
Trimark U.S. Companies Fund	F	0.20%
Trimark U.S. Small Companies Class	F, PF	0.20%

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