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S&P places Invesco fund on hold

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By Vishal Teckchandani
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2 minute read

Research house Standard & Poor's (S&P) has placed the Invesco Wholesale Asia ex Japan Share Fund on hold ahead of a planned restructure of funds by the manager.

The move follows notification by Invesco Australia that the fund is to be closed from late March.

Invesco previously offered three Asian equity capabilities to Australian investors, including Japan, Asia ex Japan and Asia (including Japan) funds.

In the future, the manager will offer a single Asian equity product, the restructured Invesco Wholesale Asia Share Fund.

This product will adopt the same benchmark, investment objective, investment team and capability as the Invesco Wholesale Asia ex Japan Share Fund.

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"This restructure reflects the manager's view that the current Asian fund offering lacks sufficient scale to meet its investment objectives," S&P fund analyst Nathan Bode said.

"The aim of the restructure is to deliver a more streamlined product line-up."

Existing investors in the funds that will be closed will be given an opportunity to switch their investments across to the Wholesale Asian Share Fund, regardless of investment size and free of any buy/sell margin or switching costs.