Invesco Canada is enhancing the offering of its innovative Platform Traded Fund (PTFs), effective March 12, 2018.

Designed for fee-based accounts, PTFs transact and settle like listed securities or exchange-traded funds. Developed by Invesco Canada and introduced in 2015, the funds aim to deliver active investment management at a cost comparable to institutional pricing.

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PTF enhancements

The fixed-rate expense fees on all PTFs will be reduced. These fixed fees partially cover the funds’ operating expenses. Any operating expenses beyond these amounts are paid by Invesco Canada.

Fixed-rate expense fee reductions

FundSeriesCurrent 
fixed-rate 
expense 
feeReduced 
fixed-
rate 
expense 
fee
Invesco Canadian Bond FundPTF0.20%0.05%
Invesco Global Bond FundPTF0.20%0.10%
Invesco Advantage Bond FundPTF0.20%0.15%
Invesco Global High Yield Bond FundPTF0.20%0.15%
Invesco Floating Rate Income FundPTF0.20%0.15%
Trimark Diversified Yield ClassPTF0.20%0.15%
Trimark Global Diversified Income FundPTF0.20%0.15%
Invesco Global Monthly Income FundPTF0.20%0.15%
Trimark Global Balanced ClassPTF0.20%0.15%
Trimark Canadian Endeavour FundPTF0.20%0.15%
Trimark Canadian Opportunity ClassPTF0.20%0.15%
Trimark Canadian Plus Dividend ClassPTF0.20%0.15%
Invesco Canadian Premier Growth ClassPTF0.20%0.15%
Trimark U.S. Companies ClassPTF, PTFU0.20%0.15%
Trimark U.S. Small Companies ClassPTF, PTFU0.20%0.15%
Trimark Global Dividend ClassPTF0.20%0.15%
Invesco Global Dividend Income FundPTF0.20%0.15%
Trimark FundPTF, PTFU0.20%0.15%
Trimark Global Fundamental Equity ClassPTF0.20%0.15%
Trimark Global Endeavour ClassPTF, PTFU0.20%0.15%
Trimark Global Small Companies ClassPTF, PTFU0.20%0.15%
Invesco Global Growth ClassPTF, PTFU0.20%0.15%
Trimark International Companies ClassPTF0.20%0.15%
Invesco International Growth ClassPTF, PTFU0.20%0.15%
Invesco European Growth ClassPTF, PTFU0.20%0.15%
Trimark Europlus FundPTF, PTFU0.20%0.15%
Invesco Indo-Pacific FundPTF, PTFU0.30%0.20%
Trimark Emerging Markets ClassPTF, PTFU0.30%0.20%
Trimark Energy ClassPTF0.20%0.15%
Trimark Resources FundPTF0.20%0.15%
Invesco Global Real Estate FundPTF, PTFU0.20%0.15%

Invesco will also reduce the management and advisory fees (MAFs) on the following PTFs:

FundSeriesCurrent
management 
feeReduced
management 
fee
Trimark Global Balanced ClassPTF0.60%0.55%
Trimark U.S. Companies ClassPTF, PTFU0.70%0.55%
Invesco Indo-Pacific FundPTF, PTFU0.80%0.75%
Trimark Emerging Markets ClassPTF, PTFU0.80%0.75%
Trimark Energy ClassPTF0.80%0.75%
Trimark Resources FundPTF0.80%0.75%
Invesco Global Real Estate FundPTF, PTFU0.80%0.75%

Note on MER reporting

The fee reductions above won’t be immediately reflected in the published management expense ratio (MER) for any given PTF.

MERs are based on the fees applied during the previous calculation period. They are calculated and published twice a year: on June 30 and Dec. 31 for funds with a Dec. 31 year-end, and on Mar. 31 and Sept. 30 for funds with a Mar. 31 year-end.

As such, published MERs will fully reflect the lower fees on June 30, 2019, for funds with a Dec. 31 year-end, and on Mar. 31, 2019, for funds with a Mar. 31 year-end.

Risk rating change

Invesco Canada has also changed the risk rating for the following funds, effective as of Feb. 23, 2018:

FundCurrent risk 
classificationRevised risk 
classification
Invesco Indo-Pacific FundMedium to highMedium
Trimark Resources FundMedium to highHigh

Risk rating changes were made in accordance with the risk classification methodology introduced by Canadian Securities Administrators to determine the risk level of mutual funds. There are no changes to the investment objectives, strategies or management of the funds.

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