Invesco files Preliminary Proxy Statement to Reclassify Invesco QQQ Trust鈩� , Series 1
Invesco Capital Management (NYSE: IVZ) has filed a preliminary proxy statement with the SEC to reclassify the Invesco QQQ Trust from a "unit investment trust" to a "management company" with an "open-end company" subclassification under the Investment Company Act of 1940.
The proposed changes include replacing The Bank of New York Mellon as Trustee with a board of individual trustees, while BNY will continue serving as custodian, administrator, and transfer agent. Additionally, ICM will be appointed as investment adviser to QQQ with a unitary fee of 18 basis points, representing a 2 basis point reduction from the current 20 basis point expense ratio.
Invesco Capital Management (NYSE: IVZ) ha presentato una dichiarazione preliminare alla SEC per riclassificare l'Invesco QQQ Trust da "unit investment trust" a "management company" con la sottoclassificazione di "open-end company" ai sensi dell'Investment Company Act del 1940.
Le modifiche proposte prevedono la sostituzione di The Bank of New York Mellon come Trustee con un consiglio di fiduciari individuali, mentre BNY continuer脿 a svolgere le funzioni di custode, amministratore e agente di trasferimento. Inoltre, ICM sar脿 nominata consulente per gli investimenti di QQQ con una commissione unitaria di 18 punti base, che rappresenta una riduzione di 2 punti base rispetto all'attuale rapporto di spesa del 20 punti base.
Invesco Capital Management (NYSE: IVZ) ha presentado una declaraci贸n preliminar ante la SEC para reclasificar el Invesco QQQ Trust de un "unit investment trust" a una "management company" con la subclasificaci贸n de "open-end company" bajo la Investment Company Act de 1940.
Los cambios propuestos incluyen reemplazar a The Bank of New York Mellon como fideicomisario por una junta de fideicomisarios individuales, mientras que BNY continuar谩 actuando como custodio, administrador y agente de transferencia. Adem谩s, ICM ser谩 nombrada asesora de inversiones de QQQ con una tarifa unitaria de 18 puntos b谩sicos, lo que representa una reducci贸n de 2 puntos b谩sicos respecto al ratio de gastos actual de 20 puntos b谩sicos.
Invesco Capital Management (NYSE: IVZ)電� Invesco QQQ Trust毳� 'unit investment trust'鞐愳劀 1940雲� 韴瀽須岇偓氩曥棎 霐半ジ 'open-end company' 頃橃渼 攵勲毳� 臧�歆� 'management company'搿� 鞛秳毳橅晿旮� 鞙勴暣 SEC鞐� 鞓堧箘 鞙勳瀯鞛� 靹滊毳� 鞝滌稖頄堨姷雼堧嫟.
鞝滌晥霅� 氤�瓴� 靷暛鞐愲姅 The Bank of New York Mellon鞚� 靾橅儊鞛�(Trustee)鞐愳劀 臧滌澑 靾橅儊鞛� 鞚挫偓須岆 甑愳泊頃橂姅 瓴冹澊 韽暔霅橂┌, BNY電� 瓿勳啀頃挫劀 靾橅儊鞛�, 甏�毽瀽 氚� 鞚挫爠 雽�毽澑 鞐暊鞚� 靾橅枆頃╇媹雼�. 霕愴暅 ICM鞚� QQQ鞚� 韴瀽 鞛愲靷 鞛勲獏霅橂┌, 雼澕 靾橃垬耄� 18氩犾澊鞁滌姢 韽澑韸�搿� 順勳灛 20氩犾澊鞁滌姢 韽澑韸胳潣 牍勳毄 牍勳湪鞐愳劀 2氩犾澊鞁滌姢 韽澑韸� 鞚疙晿霅� 靾橃鞛呺媹雼�.
Invesco Capital Management (NYSE : IVZ) a d茅pos茅 une d茅claration pr茅liminaire aupr猫s de la SEC pour reclassifier l'Invesco QQQ Trust d'un "unit investment trust" en une "management company" avec une sous-classification "open-end company" en vertu de l'Investment Company Act de 1940.
Les changements propos茅s incluent le remplacement de The Bank of New York Mellon en tant que Trustee par un conseil de trustees individuels, tandis que BNY continuera 脿 agir en tant que d茅positaire, administrateur et agent de transfert. De plus, ICM sera nomm茅 conseiller en investissement de QQQ avec des frais unitaires de 18 points de base, ce qui repr茅sente une r茅duction de 2 points de base par rapport au ratio de d茅penses actuel de 20 points de base.
Invesco Capital Management (NYSE: IVZ) hat eine vorl盲ufige Vollmachtsmitteilung bei der SEC eingereicht, um den Invesco QQQ Trust von einem "unit investment trust" in eine "management company" mit der Unterkategorie "open-end company" gem盲脽 dem Investment Company Act von 1940 umzuwandeln.
Die vorgeschlagenen 脛nderungen beinhalten den Ersatz von The Bank of New York Mellon als Treuh盲nder durch einen Vorstand einzelner Treuh盲nder, w盲hrend BNY weiterhin als Verwahrer, Verwalter und Transferagent fungiert. Zudem wird ICM als Anlageberater f眉r QQQ ernannt mit einer einheitlichen Geb眉hr von 18 Basispunkten, was eine Reduzierung um 2 Basispunkte gegen眉ber dem aktuellen Aufwandssatz von 20 Basispunkten darstellt.
- None.
- Requires shareholder approval through proxy vote
- Potential operational transition risks during restructuring
If the proposals are approved, it is contemplated that the following will occur shortly thereafter: (i) The Bank of New York Mellon (BNY), QQQ's current Trustee will be replaced with a board of individual trustees (with BNY instead serving as QQQ's custodian, administrator and accounting agent, and transfer agent); (ii) ICM will be appointed as investment adviser to QQQ pursuant to an investment advisory agreement. The proposed investment advisory agreement contemplates a unitary fee of 18 basis points, reflecting an anticipated pro-forma reduction of 2 basis points to QQQ's current expense ratio of 20 basis points.听
The preliminary proxy statement and letter to shareholders is available on the SEC's website here:
About Invesco Ltd.
Invesco Ltd. (Ticker NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed
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Contact: Stephanie Diiorio, [email protected], 212.278.9037
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