ATLANTA, Jan. 29, 2016 /PRNewswire/ -- The Board of Trustees (the "Board") of the Invesco Senior Income Trust (the "Trust") recently approved a change in the Trust's investment policy. The Trust invests in floating and variable rate senior loans ("Senior Loans") made to domestic or foreign borrowers that may be corporations, partnerships or other entities. Effective immediately, the Senior Loans in the Trust's portfolio will no longer be required to at all times have a dollar-weighted average time until the next interest rate redetermination of 90 days or less. Prime based and federal funds rate loans reset periodically when the underlying rate resets. London Inter-Bank Offered Rate ("LIBOR") loans reset on set dates, typically every 30 to 90 days, but not to exceed one year.
The Adviser and the Board believe that by implementing this policy, the Adviser will be better able to manage the Trust's portfolio in the best interests of shareholders and to meet the Trust's investment objective. The Trust is not changing its investment objective, which is to provide a high level of current income, consistent with preservation of capital, or its fundamental policy to invest at least 80% of its total assets in senior loans.
About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. It is a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund will achieve its investment objective. Shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.
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SOURCE Invesco Ltd.