Invesco Canada has launched four new index mutual funds structured as fund-of-ETFs.
In an announcement Jan. 28, the company said these new products enable investors to access four recently launched innovation-focused Invesco ETFs through a mutual fund structure.
"In 2020, Invesco launched a line-up of ETFs that showcase our key strengths and longstanding partnerships. Based on interest in our ESG ETFs and the Nasdaq Innovation suite, we are expanding the series to Canadian investors," says Jason MacKay, Head of Wealth Management Intermediaries, Canada. "Wrapping these ETFs in an index mutual fund structure offers Canadian investors the ability to easily access four key indexes through another investment structure."
The four new index mutual funds, which will generally invest one-for-one in the four ETFs, include: the Invesco S&P 500 ESG Index ETF Fund; the Invesco S&P/TSX Composite ESG Index ETF Class; the Invesco NASDAQ 100 Index ETF Fund and the Invesco NASDAQ Next Gen 100 Index ETF Fund.
All four funds will be offered in Series A, Series F and Series PTF. Series A will be offered in a front-end sales charge (SC) option only. Series F and Series PTF will be offered in a no sales charge (NSC) option.
"Offering Canadian investors these four mutual funds represent the next step in the continued democratization of investing," explains MacKay. "Advancing the growing concept that personalization in investing continues to drive benefits to the end investor, regardless of the fund structure."
