Invesco High Income 2024 Target Term Fund
IHTA
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- Invesco High Income 2024 Target Term Fund (NYSE: IHTA) is a closed-end management investment company focused on providing high current income and returning original net asset value to shareholders by a target term date. The Fund primarily invests in securities collateralized by loans secured by real properties, other real estate-related debt securities, high-quality short-term securities, U.S. Treasury securities, and cash equivalents; its portfolio strategy emphasizes income generation through real estate-backed debt instruments while transitioning to liquid assets in preparation for liquidation. Founded in 2017 and headquartered at 1555 Peachtree Street N.E., Atlanta, Georgia, the Fund operates in the asset management industry within the financials sector, targeting income-seeking investors in the United States market. In a major strategic shift announced in late 2024, the Fund deviated from its core real estate debt focus to hold approximately 100% in cash equivalents and short-term securities to facilitate an orderly wind-down. Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), completed the Fund's termination and liquidation on December 2, 2024, distributing a final net asset value of $7.57 per common share plus an additional $0.1471 per share, falling short of the original $9.835 NAV target due to market conditions. Trading of the Fund's shares on the NYSE was suspended on November 26, 2024, marking the conclusion of its operations after paying 83 regular distributions totaling $3.35 per share since inception. The Fund, managed by portfolio professionals including Brian P. Norris, Jason Marshall, and Mario L. Clemente, delivered an annualized total return on NAV of 2.12% for initial public offering investors.