Invesco's new Premium Income Fund announces benchmark index

By Toni Weeks

San Diego, Dec. 14 - Invesco Ltd. announced that its new Invesco Premium Income Fund will be benchmarked against the Barclays Capital U.S. Aggregate Index, according to a press release.

The fund launched on Wednesday.

As previously reported, the fund uses two portfolios: a high-income portfolio, which seeks income and increase in value during periods of economic strength, and a government bond portfolio, which will hold assets expected to provide income and increase in value during periods of economic stress.

The portfolio team, led by Scott Wolle, will also make opportunistic investments in other asset classes by investing in affiliated and unaffiliated exchange-traded funds, open-end investment companies, closed-end investment companies that invest in senior secured floating-rate loans, senior secured floating-rate debt instruments, mortgage-backed securities, equity securities of global companies engaged in the real estate industry, equity Real Estate Investment Trusts (REITs) and mortgage REITs. The fund may invest all of its assets in securities or loans of issuers located in foreign countries.

The fund will impose a maximum sales charge of 5.5% for class A shares and 0% for class C, R and Y shares.

The portfolio will be managed by four portfolio management teams: Scott Wolle, Mark Ahnrud, Chris Devine, Scott Hixon and Christian Ulrich are part of the Global Tactical Allocation Team; Claudia Calich, Jack Deino and Eric Lindenbaum make up the Emerging Markets Debt Team; Peter Ehret, Darren Hughes and Scott Roberts comprise the High-Yield Debt Team; and Peter Hubbard and Jeffrey Kernagis make up the Preferred Equity Team. All are employees of Invesco and/or its affiliates.

Atlanta-based Invesco Adviser, Inc. is the fund's investment adviser.

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