“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
TORONTO, Canada, October 15, 2020 – Invesco Ltd. (NYSE: IVZ) today announced changes
intended to further strengthen the broad range of its investment capabilities in the Canadian market.
“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:
Press Release
For immediate release
Invesco announces changes to strengthen
investment capabilities available in Canada
Contact: Jeaneen Terrio 212.278.9205 [email protected]
Funds 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.”
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.
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.
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