Fund name and strategy changes - Invesco Responsible Japanese Equity Value Discovery Fund (UK)
Invesco has notified us of various changes to the investment policy and strategy of the fund, which will take effect on 1 July 2024. In line with this, the fund name will also be amended.
Summary of the changes
On the 1 July 2024, the following changes will come into effect:
- The fund manager will no longer incorporate environmental, social and governance (“ESG”) factors in their investment decisions and, therefore, the fund’s investment policy and strategy will be updated to remove reference to ESG factors
- The fund manager will change to Tadao Minaguchi following the retirement of the current fund manager, Daiji Ozawa
- As a result of the above changes, the fund’s strategy is also changing (approximately 90% of the holdings of the fund will change)
- To reflect these changes, the fund’s name will change to Invesco Japanese Equity Advantage Fund (UK).
Why are these changes being made?
Invesco has made a commercial decision to no longer promote the fund as incorporating ESG characteristics. Instead, the fund will solely focus on its objective of delivering long-term capital growth to investors by investing in Japanese equities.
As the current fund manager, Daiji Ozawa, is retiring at the end of June, the fund manager will change to Tadao Minaguchi (Chief Investment Officer of Japanese Equities, based in Tokyo).
The fund’s strategy is also changing. With effect from 1 July 2024, the fund will invest in Japanese companies that use their capital effectively and take advantage of intangible assets such as brand, technology and customer loyalty within a strong business franchise in order to maintain and grow their business. Accordingly, the name of the fund will change to ‘Invesco Japanese Equity Advantage Fund (UK)’. Invesco believes the change in strategy will improve performance for investors over the longer term.
Fund name change applicable to Preference policies
| Current Fund Name, Share Class and ISIN Code | Fund Name, Share Class and ISIN Code from 1 July 2024 |
|---|---|
| Invesco Responsible Japanese Equity Value Discovery (UK) Acc GBP - GB0033028118 | Invesco Japanese Equity Advantage (UK) Acc GBP - GB0033028118 |
There will be no change to the investment objective or overall risk profile of the fund. For full details of the changes, please refer to the sample policyholder letter opposite.
Impacted policyholders and advisers have been notified by letter or e-mailshot. Policyholders do not need to take any action if they are happy with the changes, however, they can choose to switch into an alternative fund if they wish, free of charge.
For more information regarding Invesco Funds visit: www.Invesco.com