Description

The Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist aims to provide the total return performance of the Morningstar MLP Composite Index (the “Reference Index”), less the impact of fees. The fund declares and distributes dividends on a quarterly basis.The Reference Index aims to provide representative, diversified exposure to US publicly traded energy master limited partnerships (MLPs). Each constituent is weighted by the dollar value of their annual distribution and is capped at 10%. The Reference Index targets the top 97% of MLPs by market capitalisation. It is calculated daily, rebalanced quarterly and reviewed semi-annually.The fund aims to achieve its objective by holding a basket of equities, which typically delivers most of the fund’s return but ordinarily would not be the same as those in the Reference Index. The fund will also use unfunded swaps, which are contracts whereby one or more approved counterparties agrees to exchange with the fund any difference between the returns of the Reference Index and the basket of equities held. The aim is to achieve a closer and more consistent performance relative to the Reference Index than would generally be possible through physical replication alone. 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.