After careful consideration, Invesco Indexing has decided to postpone the March updates to all of our equity indexes. Extreme market volatility, halts, and closures are causing fast-moving and ever-evolving disruptions to security prices. In this environment, point-in-time reference prices for updates to index constituents may not provide the most accurate and timely information. Updating our indexes based on potentially skewed market data can create particular challenges for clients that rely on the integrity of our indexes to support index-based portfolios. The impact of the coronavirus is an additional disruptive force, causing increased strain on infrastructure, systems and people across the global economy. Postponing the March updates is consistent with the approach taken by our index calculation partner, Standard & Poor’s, and industry best practices.
The impacts of severe market dislocations and the spread of the coronavirus are evolving rapidly. At this time, Invesco Indexing has not established a new date to enact what would have been the March updates. It is possible that the March update will not occur, and the next update will occur, as scheduled, in June. We will communicate with our clients as the situation changes.
Please note the preceding update applies to Invesco Indexing’s equity indexes only. The team is in active discussions with our fixed income calculation partners, considering the most appropriate course of action for the March updates to those indexes as well.
Should you have any questions, please don’t hesitate to reach out to the client support team at IndexSupport@invesco.com.