Invesco Canada has announced updates to the investment strategy of PowerShares Monthly Income Fund.
The changes will provide the management team, Invesco Global Solutions, with greater flexibility in the selection of underlying strategies and the ability to invest in exchange-traded funds (ETFs), stated the company in a Jan. 15 announcement.
To reflect this new investment strategy, the fund will be renamed Invesco Monthly Income ETF Portfolio.
“The goal of these changes is to create a more diversified portfolio that can provide the potential for lower volatility and higher risk-adjusted returns, while maintaining a focus on monthly income generation,” says Invesco.
All changes will be effective as of the close of business on Jan. 19, 2018.