DUBLIN - Invesco Markets plc has announced a forthcoming change to the name of its Invesco S&P 500 ESG UCITS ETF, which will be rebranded as the Invesco S&P 500 Scored & Screened UCITS ETF. This change, set to take effect from February 10, 2025, follows a revision to the name of the fund's reference index.
The current reference index, known as the S&P 500 ESG Index, will be renamed the S&P 500 Scored & Screened Index. The decision comes in response to the European Securities and Markets Authority (ESMA) guidelines, which stipulate that funds using environmental, social, and governance (ESG) terms in their names must adhere to specific investment criteria, including an 80% threshold of investments that meet the fund's ESG characteristics and the exclusionary criteria for Paris-aligned Benchmarks as detailed in the Commission Delegated Regulation (EU) 2020/1818.
The index provider, after consultation, has opted to remove the "ESG" designation from the index name since it does not incorporate the Paris-aligned Benchmarks (PAB) exclusions. As a result, the fund's name will be adjusted to align with the new index designation.
Shareholders of the fund have been notified of the impending change and have been informed that they may redeem their shareholding if they choose to do so, in accordance with the dealing provisions outlined in the fund's prospectus.
The supplement to the fund will be amended to reflect the name changes on or shortly after the effective date. Shareholders can obtain relevant documents, including the prospectus, key investor information documents, and the latest reports, free of charge from the registered office of the Manager or the local representatives.
The announcement is based on a press release statement and is intended to keep investors informed of the changes that are in compliance with regulatory guidelines.
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