Welcome to our dedicated page for Invesco High Income 2023 Target Term Fund news (Ticker: IHIT), a resource for investors and traders seeking the latest updates and insights on Invesco High Income 2023 Target Term Fund stock.
Invesco High Income 2023 Target Term Fund (NYSE: IHIT) was established with the goal of delivering a high level of current income while aiming to return the original net asset value (NAV) of $9.835 per share to common shareholders upon its termination. Managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd., the fund primarily invested in securities collateralized by loans secured by real properties. As the fund approached its planned liquidation on December 1, 2023, it transitioned its portfolio towards high-quality, short-term securities, U.S. Treasury securities, and cash equivalents.
In accordance with its investment objectives and organizational documents, IHIT ceased operations and liquidated on the Termination Date, returning a NAV of $6.94 per common share to its shareholders. Despite not meeting its original NAV objective, the fund provided consistent distributions over its lifespan, delivering an average distribution rate of 5.46% on NAV and 5.55% on market price, culminating in 83 regular distributions totaling $3.78 per common share.
Invesco Ltd., the parent company, is a global independent investment management firm managing $1.3 trillion in assets as of September 30, 2023. Invesco is committed to offering a wide array of active, passive, and alternative investment capabilities to help clients achieve their financial objectives.
As the liquidation process concluded, shareholders were advised to consult tax professionals regarding potential gains or losses for U.S. tax purposes. The final liquidating distribution was anticipated to include all accumulated earnings and any remaining assets were to be disbursed through additional small distributions if necessary.
For further information, shareholders were encouraged to contact Invesco directly or refer to official communications.
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