Invesco Advisers Announces Portfolio Management Changes for Invesco Municipal Closed-End Funds

Invesco Advisers, Inc., a subsidiary of Invesco Ltd., has announced significant portfolio management changes for its municipal closed-end funds. The restructure, effective from June 30, 2023, affects a broad spectrum of Invesco’s funds including Invesco Advantage Municipal Income Trust II, Invesco Municipal Opportunity Trust, Invesco Municipal Trust, and Invesco Trust for Investment Grade Municipals among others.

Invesco has appointed a distinguished team of portfolio managers who will be jointly and primarily responsible for the day-to-day management of various funds’ portfolios. These include veterans like Mark Paris, John “Jack” Connelly, Joshua Cooney, Tim O’Reilly, John Schorle, and Julius Williams, who have all been associated with Invesco and/or its affiliates for more than a decade. This transition also marks an increased responsibility for Rebecca Setcavage, associated with Invesco since 2019, previously with OppenheimerFunds.

Additional notable changes are seen in the portfolio management for Invesco California Value Municipal Income Trust and Invesco Trust for Investment Grade New York Municipals. Here, the team expands with the inclusion of Michael Camarella, Scott Cottier, and Mark DeMitry, all of whom were associated with OppenheimerFunds before joining Invesco.

Invesco’s strategy seems to be a balanced blend of experienced hands and fresh perspectives, ensuring stability while driving innovation. As a leading global independent investment management firm, Invesco emphasizes its commitment to delivering an investment experience that helps people get more out of life.

However, investors should remember that there’s no guarantee that a closed-end fund will achieve its investment objective. Shares are bought on the secondary market and may trade at a discount or premium to NAV. Standard brokerage commissions apply.

This move by Invesco signifies its continuous effort to enhance performance and serve the diverse needs of its global client base, which it oversees $1.4 trillion in assets for, as of March 31, 2023