Invesco Indexing Consultation on Effective Dates for Postponed March 2020 Equity Index Updates

Invesco Indexing is conducting a consultation on proposed new effective dates for the postponed March 2020 equity index updates.

As previously announced, Invesco Indexing postponed the March 2020 updates for all equity indexes. Invesco Indexing made the decision to postpone after careful consideration of the potential negative impacts resulting from the extreme market volatility and related market halts and closures, as well as the coronavirus-related strain on infrastructure, processes, and teams across market participant firms.

Invesco Indexing is proposing two options for new Effective Dates for the postponed March 2020 equity index updates.

Option 1: Effective Date April 24, 2020 (market close) for all equity indexes

The new Reference Date for this option would be March 27, 2020.

Option 2: Cancel the March 2020 update for all market capitalization-weighted equity indexes; Effective Date April 24, 2020 (market close) for all other equity indexes

The next update to the capitalization-weighted indexes would be the regularly scheduled update in June 2020.

As with Option 1, the Reference Date for the April update for all non-cap weighted indexes would be March 27, 2020.

Note that the March equity updates typically are less comprehensive than, for example, the June updates. The June updates are aligned with the annual reconstitution of the full Invesco Indexing investable (III) universe. As such, index updates reflect underlying changes to the III universe. Furthermore, metrics that impact constituent weights in non-market capitalization weighted indexes (such as factor and ESG scores) also are updated in June.

Invesco Indexing welcomes your feedback on these proposals through Monday, April 13, 2020. To share your preference for these options, or provide additional feedback, please contact Invesco Indexing at