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Invesco announces changes to strengthen investment capabilities available in Canada

·5 mins read

TORONTO, Oct. 15, 2020 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ) today announced changes intended to further strengthen the broad range of its investment capabilities in the Canadian market.

Invesco Ltd. logo. (PRNewsFoto/Invesco, Chris Wilson)
Invesco Ltd. logo. (PRNewsFoto/Invesco, Chris Wilson)

"The changes announced today will help us better deliver strong, repeatable investment outcomes and meet client needs in the important Canadian market," said John Zerr, President of Invesco Canada. "Many of the changes take advantage of the expanded set of capabilities we acquired as part of our combination with New York-based OppenheimerFunds."

"Invesco is highly committed to continuing to build our business in Canada," added Jason MacKay, Head of Wealth Management Intermediaries for Invesco Canada. "Our plans are intended to leverage our global breadth and depth of resources and capabilities, bringing the best of Invesco to this important and growing market."

"Invesco is enhancing the range of strategies we offer institutional investors in Canada," said Michael Peck, Senior Vice President, Institutional Investments, for Invesco Canada. "This will better serve investor needs and allow our institutional clients to better leverage their relationship with us.

The steps Invesco announced today will position the firm to:

  • Advance our growth as a world-class global investment manager, supporting improved risk management and strong investment results;

  • Address overlap in portfolio management capabilities to help mitigate confusion in the marketplace and create scale within investment teams for the benefit of our clients and our business;

  • Provide further enhancements to our ESG (environmental, social, governance) capabilities and expand our solutions offerings, consulting programs and thought leadership; and

  • Better promote the investment strategies of our strong-performing Toronto-based global, international and emerging markets equity teams to investors outside of the Canadian marketplace.

As a result of these changes, Invesco is announcing that effective immediately, Invesco Advisors, Inc. is appointed as the sole sub-advisor for the following funds, and accordingly, the current portfolio advisor or sub-advisors, and the investment strategies of these funds, are being changed:


Sub-Advisor Managers Appointed*

Invesco Global Balanced Class (equity portion)

Invesco Global Balanced Fund (equity portion)

Invesco Global Endeavour Class

Invesco Global Endeavour Fund

Lead manager Randall Dishmon (Global Equity Team)

Invesco U.S. Companies Class

Invesco U.S. Companies Fund

Lead managers Erik Voss and Ido Cohen (Large Cap Growth Team)

Invesco Global Small Companies Class

Lead managers Frank Jennings and Máire Lane (Global Equity Team)

Invesco U.S. Small Companies Class

Lead managers Adam Weiner and Matthew Ziehl (Main Street Team)

Invesco Core Canadian Balanced Class (equity portion)

Lead managers Jason Holzer and Richard Nield (EQV Team1)

*Portfolio managers are part of Invesco Advisers Inc, which is an affiliate of Invesco Canada Ltd and the subadvisor of the funds.

To better demonstrate our aligned capabilities, the following fund name changes are being announced:

Previous Name

New Name

Effective Date

Invesco Core Canadian Balanced Class

Invesco Canadian Premier Balanced Class

November 6, 2020

Invesco U.S. Small Companies Class

Invesco Main Street U.S. Small Cap Class

In addition, the following funds will be terminated effective on or about December 21, 2020, and accordingly, effective on or about October 22, 2020, these funds will be closed to new investors. Existing investors may continue to purchase securities until December 17, 2020:

Terminating Funds

Effective Date

Invesco Canadian Small Companies Fund

December 21, 2020

Invesco Canadian Opportunity Fund

As a result of the changes, a small number of investment professionals to the funds will be impacted. In addition to the changes set out above to the portfolio advisory teams, Rob Mikalachki will be leaving the firm, effective immediately. "We would like to thank Rob and others who are leaving the firm and who have supported the progress of Invesco over the years," added Mr. Zerr.

These changes affect less than 0.5% of Invesco's global assets under management of US$1.2 trillion and less than 0.8% of Invesco's total number of investment professionals.

"The changes represent a small fraction of the total number of investment professionals and AUM at Invesco," added Mr. Zerr. "As always, we will work to mitigate the impact of any changes on our valued clients as we continue to strengthen our ability to meet the needs of the market."

Mr. Zerr added, "As part of our efforts to bring the best of Invesco to the Canadian marketplace, we also plan to:

  • Further expand the range of ETFs and indexed product solutions offered within the Canadian marketplace, leveraging our capabilities as the fourth-largest ETF provider globally as of August 31, 2020 (source: Morningstar); and

  • Expand the range of alternative capabilities offered in Canada, leveraging our capabilities as the world's eighth-largest provider of alternatives as of December 2019 (source: Invesco)."

About Invesco Ltd.
Invesco is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in 25 countries, Invesco managed $1.2 trillion in assets on behalf of clients worldwide as of August 31, 2020. For more information, visit Invesco.com.
Commissions, management fees and expenses may all be associated with investments in mutual funds and exchange-traded funds (ETFs). Trailing commissions may be associated with investments in mutual funds. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus before investing. Copies are available from Invesco Canada Ltd. at www.invesco.ca.

1 The EQV Team is the Austin-based Global Equity team. EQV stands for Earnings, Quality, Growth which describes the team's investment process focused on stocks meeting Earnings (E), Quality (Q), and Valuation (V) characteristics.

Contact: Jeaneen Terrio 212.278.9205 Jeaneen.Terrio@invesco.com

SOURCE Invesco Ltd.