US Executive Order 14032 – Chinese Military-Industrial Complex Companies
Invesco’s policy is to fully comply with all applicable sanctions globally, including but not limited to sanctions issued by the US Treasury Department’s Office of Foreign Assets Control (“OFAC”), the United Nations (“UN”) and the European Union (“EU”). We are aware of Executive Order 14032 (“EO 14032”) relating to Chinese Military-Industrial Complex Companies (“CMICs”) and associated guidance issued by OFAC in the form of FAQs.
Our policy is to comply with EO 14032 and OFAC guidance, in particular relating to restrictions on trading in securities prohibited by EO 14032, effective August 2, 2021 and the associated divestment period.
For US registered funds and portfolios and other US commingled products, Invesco will prohibit the purchase of any securities of the CMICs listed under EO 14032 from August 2, 2021 (with securities of any subsequently sanctioned entities commencing from and after the relevant such future date for CMIC securities subsequently listed by OFAC).
Our approach to compliance with EO 14032 includes our intention to divest such holdings as per the June 3, 2022 divestiture period (or any such future date as determined by OFAC).