Invesco High Income 2024 fund fails to return original NAV to shareholders

On December 2, 2024, Invesco Advisers, Inc., a subsidiary of Invesco Ltd, announced the termination and liquidation of the Invesco High Income 2024 Target Term Fund. The Fund was initiated on December 4, 2017, with goals of providing significant current income and returning its original net asset value of $9.835 per share to investors. However, due to various factors affecting fund performance, it ultimately failed to achieve this aim. Shareholders received a liquidating distribution of $7.57 per common share instead, along with an additional distribution of $0.1471 on the final termination date. Since its inception, the Fund distributed a total of $3.35 per share over 83 distributions, averaging about 4.93%. Shareholders who invested at the Fund's start realized an annualized return of only 2.12%. The termination of the Fund marks a significant moment for the company and its investors, representing both a financial loss and a reflection of the shifting market conditions impacting high-income investment vehicles. Investors were advised to consult tax professionals regarding potential tax implications resulting from the liquidation.