Invesco Commodities Strategy Fund eliminates 2% redemption fee

By Toni Weeks

San Diego, Nov. 17 - Invesco Commodities Strategy Fund said that effective Jan. 1 it will eliminate the 2% redemption fees assessed on shares of the fund redeemed or exchanged within 31 days of purchase, according to a 497 filing with the Securities and Exchange Commission.

On the same date, the fund will also eliminate the limit on the number of exchanges allowed in the fund. The exchange limits were generally set to four exchanges out of a fund per year.

To limit excessive trading, the fund will implement a purchase blocking policy, under which a shareholder redeeming shares with a value of $5,000 or more on any trading day will be blocked from investing in that fund for 30 calendar days after the redemption or exchange transaction date.

The filing also noted that for any of the A, B, C, R or Y classes of the fund, the reinstatement privilege will be suspended for the period of time in which a purchase block is in place on a shareholder's account.

The fund's adviser is Atlanta-based Invesco Advisers, Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.