Invesco shareholders have approved the reorganization of three Invesco funds.
The Invesco Leisure Fund will be acquired by the Invesco American Franchise Fund. The Leisure fund is managed by Juan Hartsfield and Ido Cohen. It invests in equity securities related to companies related to hotels and gaming, publishing, and motion pictures and has assets under management of $404.9 million as of April 24th, according to Bloomberg data. The fund was launched on January 19, 1984.
The American Franchise Fund is managed by Cohen and Eric Voss. It invests in equity securities and has AUM of $5.6 billion as of April 24th, according to Bloomberg data. The fund was launched on June 23, 2005.
In addition, the Invesco Dynamics Fund will be acquired by the Invesco Mid Cap Growth Fund, which is managed by Jim Leach. The Dynamic fund invests at least 65% of its net assets in common stocks of mid-sized growth companies that are included in the Russell Mid-Cap Growth Index and has AUM of $797.4 million as of April 23, according to Bloomberg data. The fund was launched on September 15, 1967.
The Mid Cap Growth invests primarily in common stocks and other equity securities of medium-sized growth companies. It has AUM of $1.8 billion as of April 23, according to Bloomberg data, and was launched on December 27, 1995.
Lastly, the Invesco Municipal Bond Fund will be acquired by the Invesco Municipal Income Fund. The Municipal Bond fund is managed by Tom Byron and Robert Stryker. It invests primarily in a diversified portfolio of municipal bonds and has AUM of $576.7 million as of April 24, according to Bloomberg data. The fund was launched on September 1, 1993.
The Municipal fund is also managed by Byron and Stryker The fund invests at least 80% of its assets in a portfolio of investment- grade municipal securities and has AUM of $2.1 billion as April 24th, according to Bloomberg. The fund was launched on August 8, 1990.
