Following the change of fund manager Mark Bennett in May, Invesco has announced that the Invesco High Income fund will be renamed.
From 30 July 2020, the fund will be called Invesco UK Equity High Income. It will also have a new objective and the frequency of its distribution changes will also change from half yearly to quarterly.
New fund objective
The original fund objective was to achieve a high level of income together with capital growth over the long term (5 years plus).
It has now been clarified and the new objective is to achieve a high level of income (greater than the income return of the FTSE All Share Index over a rolling 5 year period) and capital growth over the long term (5 years plus).
New distribution payment dates
Additionally, effective 1 October 2020, the frequency of distribution payments from the fund will change from half-yearly to quarterly. Invesco says this change will provide a more regular income stream, in line with the majority of other UK equity income funds in the UK market.
The original distribution payment dates were 28 February and 31 August.
Future distribution dates will be 28 February, 31 May, 31 August and 30 November.