Invesco fund to close following failed merger

European High Income fund

The Invesco European High Income fund is set to close, following a failed proposal to merge it into the firm’s Global Income fund.

In an investor letter seen by Investment Week, Invesco said it believed the fund "is no longer commercially viable due to its low assets under management and that any potential for meaningful growth is highly unlikely". The letter added the fund will stop accepting new investments into the fund from 8 June. The proposed merger, which was announced in January, was voted down by shareholders. At the time, Invesco argued that shareholders would benefit from a broader universe of equities and debt, while keeping the investment objective, process and style the same. Both funds had been man...