ATLANTA, Oct. 21,
2024 /PRNewswire/ -- Invesco Advisers, Inc., a
subsidiary of Invesco Ltd. (NYSE: IVZ), announced today additional
details concerning the liquidation of Invesco High Income 2024
Target Term Fund (NYSE: IHTA) (the "Fund"). In accordance with its
investment objectives and organizational documents, the Fund plans
to terminate and liquidate on or about December 2, 2024 (the "Termination Date").
As the Fund prepares for its liquidation on the Termination
Date, the Fund will deviate from its stated investment strategy and
policies, which are to primarily invest in securities
collateralized by loans secured by real properties and other real
estate related debt securities. Instead, the Fund's portfolio
managers will continue to move the Fund's assets to high quality,
short-term securities and U.S. Treasury securities, and cash and
cash equivalents. As of October 21,
2024, the Fund's portfolio consisted of approximately 100%
cash and cash equivalents.
The Fund's investment objectives are to provide a high level of
current income and to return $9.835
per share (the original net asset value ("NAV") per Common Share
before deducting offering costs of $0.02 per share) ("Original NAV") to common
shareholders on the Termination Date. As previously disclosed,
based on current market conditions, management anticipates that the
Fund's objective of returning the Original NAV to common
shareholders on or about the Termination Date will not be met. The
objective to return the Fund's Original NAV is not an express or
implied guarantee obligation of the Fund and is dependent on a
number of factors. As of October 18,
2024, the Fund's NAV per share was $7.71.
The Fund's common shares will continue trading on the New York
Stock Exchange through November 25,
2024 and will be suspended from trading before the open of
trading on November 26, 2024. The
Fund will declare its regular monthly distribution in November 2024 and expects that all other
accumulated earnings will be included in the final liquidating
distribution. The Fund anticipates making its final liquidating
distribution on or about the Termination Date.
Shareholders may recognize a gain or loss for U.S. tax purposes
as a result of the liquidation of the Fund. Invesco does not
provide tax advice; shareholders should consult a professional tax
advisor regarding their specific tax situation.
For more information, call 1-800-341-2929.
This communication is not intended to, and shall not,
constitute an offer to purchase or sell shares of any of the
Invesco Funds, including the Fund.
About Invesco Ltd.
Invesco Ltd. 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 $1.7 trillion in assets on behalf of clients
worldwide as of June 30, 2024. For
more information, visit www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an investment
adviser; it provides investment advisory services to individual and
institutional clients and does not sell securities. Each entity is
a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund
will achieve its investment objective. Common shares are bought on
the secondary market and may trade at a discount or premium to NAV.
Regular brokerage commissions apply.
NOT A DEPOSIT l NOT FDIC INSURED l NOT
GUARANTEED BY THE BANK | MAY LOSE VALUE |
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Media Relations Contact: Matthew
Chisum, Matthew.Chisum@invesco.com, 212-652-4368
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SOURCE Invesco Ltd.