Invesco slashes pricing on sector ETFs

Invesco has dropped charging on its US equities sector exchange traded funds (ETFs), including its S&P US Technology Sector Ucits.

Ongoing charges figures (OCFs) on 10 funds all tracking S&P indices will be reduced to 0.14% from 0.30% previously.

The $573.4m technology ETF is the largest fund affected, followed by the $465.0m S&P US Financials Sector and $265.3m S&P Energy Sectors Ucits ETFs.

In total the changes apply to $1.8bn (£1.4bn) worth of assets.

The products are part of the $18bn stable of Source-managed ETFs Invesco acquired in April 2017.

Just over half of discretionary fund managers (DFMs) are currently using sector ETFs, according to SPDR research published in May.

ETF OCFAUM
Invesco S&P US Consumer Discretionary Sector Ucits ETF0.14%$135.1m
Invesco S&P US Consumer Staples Sector Ucits ETF0.14%$36.5m
Invesco S&P US Energy Sector Ucits ETF0.14%$265.3m
Invesco S&P US Financials Sector Ucits ETF0.14%$465.0m
Invesco S&P US Health Care Sector Ucits ETF0.14%$186.7m
Invesco S&P US Industrials Sector Ucits ETF0.14%$109.6m
Invesco S&P US Materials Sector Ucits ETF0.14%$6.6m
Invesco S&P US Real Estate Sector Ucits ETF0.14%$16.3m
Invesco S&P US Technology Sector Ucits ETF0.14%$573.4m
Invesco S&P US Utilities Sector Ucits ETF0.14%$12m

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