On 1st July 2024, Invesco enacted some changes to the Invesco Responsible Japanese Equity Discovery Fund.
The fund manager no longer incorporates Environmental, Social and Governance ("ESG") factors in their investment decisions, therefore, the Fund's investment policy and strategy will be updated to remove reference to ESG factors. Following the retirement of Daiji Ozawa, the fund manager is now Tadao Minaguchi. As a result of these changes, the Fund's strategy has also changed and the new fund name is Invesco Japanese Equity Advantage Fund.
Invesco have stated the following:
"With effect from 1 July 2024, the Fund will invest in Japanese companies which use their capital effectively and take advantage of intangible assets such as brand, technology and customer loyalty within a strong business franchise in order to maintain and grow their business. We believe the change in strategy will improve performance for investors over the longer term."
As a result, there will be changes made to the portfolio of the Fund (approximately 90% of the holdings of the Fund will change). Any costs associated with these changes will be borne by the Fund.
If this is something that may interest you, please get in touch.
- uploaded - 12 June 2024