Invesco announced it will reduce the fund management fee on most of its ICVC funds by 0.05% starting in December.
The decrease will also allow Invesco to streamline their investment platforms. Currently, the company holds a Y share class and Z share class, that are priced about 0.05% apart. With the fee decrease, Invesco plans to merge the Y share class into the Z share class, dismissing the Y share class all together.
The Invesco release stated: “By removing the Y share class we’re making it easier for you to work with us, as well as ensuring consistency across platforms. Further details of this second phase will be shared closer to the time.”
Groups subject to the change will include Acc, Inc, Acc No Trail, Inc No Trail, Z Acc and Z Inc share classes.
The change occurs under CEO Andrew Schlossberg, who took over the position in February of this year. As of 30 June, Invesco holds $1,538.2bn in assets with a team of over 8,400. The Invesco Global Emerging Markets fund was also awarded an “Elite” rating by Fundcalibre this August.
