Toronto-based Invesco Canada Ltd. announced on Monday that it’s expanding its lineup with the addition of two income-focused funds in response to the record low interest rate environment.
Invesco Global Dividend Income Fund and Invesco Global Monthly Income Fund aim to produce a “predictable income stream” for investors through “pre-set monthly distributions, using a target distribution rate or an aggregate yearly dollar amount per unit.”
Meggan Walsh, senior portfolio manager and head of dividend value team for Invesco Advisers Inc. (IA) in Houston, who has 30 years of investing experience, will oversee both funds. Walsh spearheaded the development of IA’s diversified dividend investment process, launched in 2002.
Invesco Global Dividend Income Fund, which is designed to mitigate the impact of inflation and interest rate risks, the firm’s statement explains, offers exposure to companies across the globe with “above-market and defensible dividend yields.”
Invesco Global Monthly Income Fund, which bills itself as a diversified global balanced portfolio, splits its target-asset allocation between 60% equities and 40% fixed-income.
This fund offers equities exposure by investing in the Invesco Global Dividend Income Fund. On the fixed-income side, the fund is exposed to global core bonds through Invesco Global Bond Fund and fixed-income securities through Invesco Global High Yield Bond Fund.