Invesco to give up Enhanced Income trust over fee disagreement

12 months' notice

Jayna Rana
clock • 3 min read

Invesco has given written notice to the board of the £132m Invesco Perpetual Enhanced Income trust that it will be stepping down as investment manager over contractual arrangements.

In an announcement released this morning, the company said the letter was "sent notwithstanding the detailed and extended efforts of the board to reach satisfactory ongoing contractual arrangements (including in respect of fees payable) for both shareholders and the current manager having regard to prevailing market practice". The board has in turn written to Invesco, acknowledging the letter and opening up discussions in respect of any transitional period. It has also reminded shareholders the investment management agreement may be terminated on 12 months' written notice. What will b...

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