Fund changes aimed at increasing flexibility for multinational investor

Fund changes aimed at increasing flexibility for multinational investor

Fund changes aimed at increasing flexibility for multinational investor As multinational companies look for greater flexibility in how they invest their assets in fixed-income securities issued by Canadian corporations, one company has been given the green light to merge two of its classes of funds.
 
Invesco Canada received securityholder approval to merge Trimark North American Endeavour Class into Trimark U.S. Companies Class recently, with the merger expected to become effective after the close of business in early August.
 
“To simplify our product lineup, Trimark North American Endeavour Class will be merged into Trimark US Companies Class and will be managed by Trimark veteran Jim Young,” says Aysha Mawani, vice president of corporate affairs for Invesco Canada. “We believe the changes are in the best interests of investors and should provide them with long-term benefits.”
 
In a separate vote, securityholders of Trimark Government Plus Income Fund approved changes to the fund’s investment objectives – to promote flexibility to invest a greater percentage of the fund’s assets in fixed-income securities issued by Canadian corporations.
 
As a result, the fund has been renamed Trimark Sort-Term Income Fund.
 
“We received investor approval to change the objectives and name of Trimark Government Plus Income Fund,” says Mawani. “Effective July 31 the fund will be renamed Trimark Short Income Fund and will now have the flexibility to invest a greater percentage of its assets in fixed-income securities issued by Canadian corporations, which had been limited to one-third of the Fund’s assets.”
 
Invesco Canada is one of the nation’s leading investment management companies that operates under three distinct yet complementary product brands: Trimark, Invesco and PowerShares. A subsidiary of Invesco Ltd., the parent companies provides investment strategies to clients in more than 20 countries.