IVZ Invesco Ltd

TORONTO, May 21, 2015 /CNW/ - Continuing its commitment to act in the best interests of Canadian investors, Invesco Canada ("Invesco") is making several enhancements to its mutual fund lineup.

Upon completion, these changes will provide investors with more clarity regarding their investment choices and expand the number of choices available under the Invesco Private Wealth program.

Proposed fund mergers
To simplify the product lineup, Invesco proposes to merge the following funds effective on or about August 7, 2015:

The merger of Trimark North American Endeavour Class into Trimark U.S. Companies Class requires approval from the securityholders of Trimark North American Endeavour Class, as well as regulatory approval. Securityholders will be asked to vote at a special meeting to be held July 21 in Toronto (the "Special Meeting"). Details of this merger proposal will be provided to investors in a management information circular and proxy package that will be mailed in June. The Invesco Canada Funds' Independent Review Committee (the "IRC") has reviewed this proposed merger with respect to conflict of interest matters and has recommended that the merger achieves a fair and reasonable result for investors.

The other mergers were approved by the IRC. Accordingly, a Notice regarding these other mergers will be mailed to investors of the merging funds at least 60 days prior to the merger date. In addition, the merger of PowerShares Tactical Bond Capital Yield Class is subject to regulatory approval.

Series capping
Series A, T4, T6 and T8 of Trimark Diversified Income Class will be closed to new investors, effective the close of business June 3, 2015. Following the closure, only investors holding Series A, T4, T6 and T8 of Trimark Diversified Income Class may continue to purchase such series in the account(s) in which they are held.

Fund name change
Effective July 31, Invesco Pure Canadian Equity Fund will be renamed Trimark Canadian Opportunity Fund.

New series launches
To provide investors with greater choice within the Invesco Private Wealth program, the following fund series will also be launched effective June 30, 2015:

Other proposed product lineup enhancements
Invesco has also proposed changing the investment objective of Trimark Government Plus Income Fund to provide greater flexibility for the manager to invest in fixed-income securities issued by Canadian corporations, which are currently limited to one third of the Fund's assets. Removing this limit could potentially help the Fund achieve greater risk-adjusted returns and better performance relative to peers while maintaining the investment grade credit quality of the fund on average.

The change to investment objective is subject to securityholder approval at the Special Meeting. If approved, the Fund will be renamed Trimark Short-Term Income Fund. Both the investment objective and name change would be effective July 31, 2015.

Fund terminations
The following mutual funds will be terminated at the close of business on or about August 7, 2015:

• PowerShares Global Agriculture Class
• PowerShares Tactical Canadian Asset Allocation Fund

Prior to the termination of the funds, investors have the option to switch their investments into another Invesco Canada fund or to redeem their securities.

For more information, please visit www.invesco.ca. You can also connect with Invesco Canada on Twitter (@InvescoCanada), LinkedIn or Facebook, and get insights from the Trimark portfolio managers on the Trimark Investments blog.

Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the simplified prospectus before investing. Copies are available from your advisor or Invesco Canada Ltd.

About Invesco Canada Ltd.
Invesco Canada Ltd., operating under three distinct yet complementary product brands (Trimark, Invesco and PowerShares), is one of Canada's leading investment management companies. A subsidiary of Invesco Ltd., Invesco Canada's singular focus is on investment management, offering a diversified suite of solutions to institutions, organizations, companies and individual investors across Canada and around the world. Additional information is available at www.invesco.ca.

About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

Invesco^® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. PowerShares^®, Leading the Intelligent ETF Revolution^® and all associated trademarks are trademarks of Invesco PowerShares Capital Management LLC (Invesco PowerShares), used under licence. Trimark^®, Knowing pays^® and all associated trademarks are trademarks of Invesco Canada Ltd.

© Invesco Canada Ltd., 2015

SOURCE Invesco Canada Ltd.