Description

The Invesco Euro Government Bond UCITS ETF Dist aims to provide the total return performance of the Bloomberg Euro Treasury Majors Bond Index (the "Reference Index"), less the impact of fees. The fund distributes income on a quarterly basis.The Reference Index measures the performance of EUR-denominated, fixed-rate government debt. To be eligible for inclusion, a country must have EUR 50 billion issuance; if a country’s issuance falls below EUR 40 billion, it will exit the index. The list of eligible countries is reviewed on an annual basis. To enter the Reference Index, securities must be denominated in EUR; rated investment grade (Baa3/BBB-/BBB- or higher) using the middle rating of Moody’s, S&P and Fitch; have a minimum par amount outstanding of EUR 300 million; and at least one year until final maturity, regardless of optionality. To remain in the Reference Index, securities must be rated B3/B-/B- or higher, after dropping the highest and lowest available ratings. Local currency treasury issues are rated using the long-term local currency sovereign rating from Moody's, S&P and Fitch. The Reference Index rebalances monthly.The portfolio managers aim to achieve the fund’s objective by using portfolio modelling tools and techniques to buy and hold a proportion of the index securities that represents the characteristics of the entire index. The objective of this sampling method is to replicate the index performance as closely as possible while reducing the costs that would normally be incurred with full replication. This ETF is passively managed. An investment in this fund is an acquisition of units in a passively managed, index tracking fund rather than in the underlying assets owned by the fund.