Invesco Ltd. is terminating two funds in the Canadian market and making Invesco Advisers, Inc. the sole sub-advisor for other funds, the Atlanta, Ga.-based asset manager said Thursday.
The firm is terminating the Invesco Canadian Small Companies Fund and Invesco Canadian Opportunity Fund, effective Dec. 21.
A “small number of investment professionals to the funds will be impacted,” the firm said, including Rob Mikalachki, chief investment officer with Invesco Canada.
“We would like to thank Rob and others who are leaving the firm and who have supported the progress of Invesco over the years,” Invesco Canada president John Zerr said in a press release.
Nine funds will now be sub-advised by Invesco Advisers managers. The firm said the changes take advantage of new capabilities that came with Invesco’s 2018 acquisition of OppenheimerFunds.