Invesco Advisers has completed the termination and liquidation of Invesco High Income 2024 Target Term Fund (IHTA) on December 2, 2024. The fund, launched in December 2017, failed to meet its objective of returning the original NAV of $9.835 per share, instead returning $7.57 per share as its liquidating distribution plus a final distribution of $0.1471 per share. Since inception, the fund paid 83 regular distributions totaling $3.35 per share, achieving an average distribution rate of 4.93% on Original NAV. The annualized total return on NAV was 2.12%, while the total return on market price was 1.86%.
Invesco Advisers, Inc., a subsidiary of Invesco (NYSE: IVZ), has announced details for the liquidation of Invesco High Income 2024 Target Term Fund (NYSE: IHTA). The Fund is set to terminate and liquidate on or about December 2, 2024. As it prepares for liquidation, the Fund will deviate from its stated investment strategy, moving assets to high-quality, short-term securities, U.S. Treasury securities, and cash equivalents. As of October 21, 2024, the Fund's portfolio consisted of approximately 100% cash and cash equivalents.
The Fund's objective to return the original NAV of $9.835 per share to common shareholders on the Termination Date is not expected to be met. As of October 18, 2024, the Fund's NAV per share was $7.71. Trading of common shares on the NYSE will continue through November 25, 2024, and be suspended from November 26, 2024. A final liquidating distribution is anticipated on or about the Termination Date.
Summary not available.