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Saturday, December 9, 2023

Why are shares of Invesco Ltd. (IVZ) rising in premarket trading?

Invesco Ltd. (IVZ) has experienced an increase of 6.47% in the premarket without any specific reason. However, the last trading session concluded at $24.89 with a decline of 2.58%.

IVZ Announces August 31, 2021, Assets Under Management

IVZ announced on 13th September 2021 that provisional month-end assets under management (AUM) are $1,562.7 billion. This month, the company received $8.4 billion in net long-term inflows. Moreover, money market net inflows were $2.6 billion, while non-management fee earning net inflows were $2.6 billion. Market returns, which boosted AUM by $22 billion, had a beneficial influence on AUM. Also, FX had a $1.1 billion drop in AUM. The preliminary average total AUM for the quarter ended August 31 was $1,532.4 billion, while the preliminary average active AUM for the same period was $1,061.8 billion.

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Chris Womack to join Invesco Ltd. Board of Directors

IVZ stated on 7th September 2021 that Chris Womack will join the board of directors in early October. Mr. Womack is the Chairman, President, and CEO of Georgia Power Business. Mr. Womack will also serve on the Audit, Compensation, Nomination, and Corporate Governance Committees of the Invesco Ltd. Board of Directors.

In addition, the Invesco Board of Directors appointed a talented person to join the board of directors. Chris is however a talented person to support the company. His considerable leadership experience and substantial public policy background distinguish him as a valuable addition who will contribute significantly to Invesco’s future success.

Details of Tender Offer and Reorganization for Invesco Dynamic Credit Opportunities Fund

On 3rd September 2021, IVZ announced that additional information on Invesco Dynamic Credit Opportunities Funds. The Fund will execute a tender offer for up to 12,596,028 of its outstanding common shares of beneficial interest, or 20% of its common shares, for cash.

The Fund has established a managed distribution plan under which it will pay a monthly dividend to common shareholders of $0.075 per share. The Plan is designed to provide shareholders with a regular, but not guaranteed, cash payout, regardless of when or if income or capital gains are produced.

To maintain the Plan’s controlled distribution level, the Fund will disburse long-term capital gains and/or return of capital if sufficient investment income is not available for monthly distribution. When part or all of the money that shareholders put into the Fund is returned to them, this is known as a return of capital.

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