Conclusion from Consultation on Turnover Treatment in Invesco Defensive Equity Index

On March 5th, 2021 Invesco Indexing concluded the consultation period for a proposal on the treatment of turnover in the Invesco Defensive Equity Index.

As previously announced, the consultation covered the treatment of turnover in the Invesco Defensive Equity Index resulting from an update to a data input used in the Index’s security selection. The overall profile and exposures of the Index are expected to remain unchanged, though the new data input will result in some changes to index constituents and will have attendant impact on Index turnover.

After seeking and receiving input from market participants on the three potential options for handling upcoming rebalances of the Invesco Defensive Equity Index, Invesco Indexing will be implementing option 1 below:

          1) Incorporate all turnover associated with the data input update as part of the regularly scheduled March 2021 rebalance.

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