ATLANTA, Dec. 4,
2023 /PRNewswire/ -- Invesco Advisers, Inc., a
subsidiary of Invesco Ltd. (NYSE: IVZ), announced today that it
completed the termination and liquidation of the Invesco High
Income 2023 Target Term Fund (NYSE: IHIT) (the "Fund"). In
accordance with its investment objectives and organizational
documents, and previously announced liquidation plans, the Fund
terminated its existence and liquidated on December 1, 2023 (the "Termination
Date").
The Fund launched on November 28,
2016 with the investment objectives 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
anticipated and previously disclosed, the
Fund's objective of returning the Original NAV to common
shareholders on or about the Termination Date was not met.
The objective to return the Fund's Original NAV was not an
express or implied guarantee obligation of the Fund
and was dependent on a number of factors.
The Fund is returning to its shareholders a NAV of
$6.94 per common share as its
liquidating distribution. Since inception, the Fund paid 83 regular
distributions totaling $3.78 per
common share, which equates to an average distribution rate of
5.46% on NAV and 5.55% on market price. The annualized total return
on NAV for the Fund shareholders who invested at the initial public
offering was 0.87% and the total return on market price was
0.63%.
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 $1.3 trillion in assets on behalf of clients
worldwide as of September 30, 2023.
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: Jeaneen
Terrio, Jeaneen.Terrio@invesco.com, 212-278-9205
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SOURCE Invesco Ltd.
