Today, Invesco Indexing concluded its consultation on proposed replacement rates for USD London Interbank Offered Rate (“LIBOR”) and London Interbank Bid Rate (“LIBID”) used in select Invesco Indexing indexes. As previously announced, the proposed alternative reference rates were the Secured Overnight Financing Rate (“SOFR”), Euro Short-Term Rate (“ESTR”), and Tokyo Overnight Average Rate (“TONA”). Having received and considered stakeholder feedback, Invesco Indexing will be implementing the changes as outlined in the consultation and summarized below:
These updates to reference rates used within Invesco indexes will be implemented after the close of business on December 31st, 2021.
A summary of the changes by index is provided below.
For any questions, please contact the client support team at IndexSupport@invesco.com
| Index Name | Ticker |
How Current Reference Rate Is Applied |
Current |
Updated Reference Rate Effective 12/31/2021 |
|
Invesco Euro Corporate Bond Index |
IIZIC |
Reinvestment Rate |
1 Month USD LIBID |
ESTR |
|
Invesco Euro Corporate ex-Subordinated & Financials Bond Index |
IIZICX |
Reinvestment Rate |
1 Month USD LIBID |
ESTR |
|
Invesco Euro Liquid Corporate Bond Index |
IIZILC |
Reinvestment Rate |
1 Month USD LIBID |
ESTR |
|
Invesco Euro Liquid Corporate ESG Bond Index |
IIZILEC |
Reinvestment Rate |
1 Month USD LIBID |
ESTR |
|
Invesco Peak Index |
IIPEAK |
Excess Return Calculation |
3 Month LIBOR |
SOFR |
|
Invesco Developed Markets ex-Japan Sovereign Bond Index |
IIDKSBHY |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco Global Broad Bond Index |
IIGIB |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco Global ex-Japan Environmental Stewards Corporate Bond Index |
IIGKESY |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco Global ex-Japan Green Horizons Bond Index |
IIGKGHY |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco Investment Grade Defensive Index |
IIIGD |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco Investment Grade Value Index |
IIIGV |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Broad Bond Index |
IIUIB |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Fixed Rate 30-Year MBS Index |
IIUSMBS |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US High Yield Corporate Bond Index |
IIDUHC |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Liquid Corporate Bond Index |
IIUILC |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Liquid Corporate ESG Bond Index |
IIUILEC |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Treasury 10-30 Years Index |
IIUSTYLT |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco US Treasury 1-3 Years Index |
IIUSTYST |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco USD Broad Emerging Markets Government Bond Index |
IIBEGB |
Reinvestment Rate |
1 Month USD LIBID |
SOFR |
|
Invesco JGB Index |
IIJGBY |
Reinvestment Rate |
1 Month USD LIBID |
TONA |