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Press release from PR Newswire

Invesco Announces Portfolio Management Changes to Certain Closed-End Funds

Monday, April 29, 2013

Invesco Announces Portfolio Management Changes to Certain Closed-End Funds

10:45 EDT Monday, April 29, 2013

ATLANTA, April 29, 2013 /PRNewswire/ -- Invesco announced today changes to the portfolio management teams of Invesco Dynamic Credit Opportunities Fund (VTA) and Invesco Senior Income Trust (VVR).

(Logo:  http://photos.prnewswire.com/prnh/20110131/MM39469LOGO-a )

Effective April 29, 2013, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco Dynamic Credit Opportunities Fund (the Fund). In addition, Invesco Asset Management Limited also became a subadviser for the Fund:

  • Mr. Scott Baskind, Managing Director, is the co-chief investment officer of the global senior loan business.  He is also a senior portfolio manager and head of the Investment Committee. Mr. Baskind oversees investment strategies across all funds managed by the business. Mr. Baskind joined Invesco Senior Secured Management, Inc. (ISSM) in 1999 as a credit analyst and was promoted to his current position in 2002. Mr. Baskind began his career in 1996, when he joined NatWest Markets as a commercial lending analyst. In 1997, he joined Gleacher NatWest as an associate in the Leveraged Finance and Private Equities Group. He was responsible for credit analysis of non-investment grade bank loans and mezzanine debt financings. Mr. Baskind earned a B.S. in business administration, with majors in finance and management information systems, from the University at Albany, State University of New York.
  • Mr. Philip Yarrow has been managing the Fund since 2007 and has been associated with ISSM and/or its affiliates since 2010. From 2005-2010 and prior to joining ISSM, Mr. Yarrow was an Executive Director with Morgan Stanley. Previously, he was a credit analyst and a portfolio manager at Bank One/JP Morgan. He has more than 15 years of investment experience.
  • Mr. Nuno Caetano, Director and Portfolio Manager in ISSM's Bank Loan Group. Mr. Nuno has 13 years of investment experience. Prior to joining Invesco in 2010, Mr. Nuno was a vice president and portfolio manager with Morgan Stanley, a position he held since late 2006. Previously, Mr. Nuno was a vice president in the Leveraged Finance Portfolio Group at Citigroup. While at Citigroup, Mr. Nuno also held positions as a senior associate in the European Deal Structuring & Origination team, an associate banker in the firm's Global Banking franchise and a warrants trader in its Corporate & Investment Bank.  He received a Bachelor of Science in business administration and a Master of Science in corporate finance from Universidade Catolica Portuguesa and is also a CFA charterholder and member of the CFA Institute.

Also effective April 29, 2013, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco Senior Income Trust (the Trust):

  • Mr. Scott Baskind, Managing Director, is the co-chief investment officer of the global senior loan business.  He is also a senior portfolio manager and head of the Investment Committee. Mr. Baskind overseas investment strategies across all funds managed by the business. Mr. Baskind joined Invesco Senior Secured Management, Inc. in 1999 as a credit analyst and was promoted to his current position in 2002. Mr. Baskind began his career in 1996, when he joined NatWest Markets as a commercial lending analyst. In 1997, he joined Gleacher NatWest as an associate in the Leveraged Finance and Private Equities Group. He was responsible for credit analysis of non-investment grade bank loans and mezzanine debt financings. Mr. Baskind earned a B.S. in business administration, with majors in finance and management information systems, from the University at Albany, State University of New York.
  • Mr. Thomas Ewald has been managing the Trust since 2010 and has been associated with ISSM and/or its affiliates since 2000. Prior to joining ISSM, Mr. Ewald was one of the founding portfolio managers of First Union Institutional Debt Mgmt. and assisted in growing assets under management to more than $2 billion. Before joining Institutional Debt Mgmt., he worked for several departments within First Union Securities, including par loan research, syndications, and mergers and acquisitions.
  • Mr. Philip Yarrow has been managing the Fund since 2007 and has been associated with ISSM and/or its affiliates since 2010. From 2005-2010 and prior to joining ISSM, Mr. Yarrow was an Executive Director with Morgan Stanley. Previously, he was a credit analyst and a portfolio manager at Bank One/JP Morgan. He has more than 15 years of investment experience.

Investing involves risk and it is possible to lose money on any investment in each fund.

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 retail, institutional and high net worth 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. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for its STIC Global Funds. Invesco Senior Secured Management, Inc., Invesco Advisers, Inc. and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries 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.

SOURCE Invesco

For further information: David Bachert, 713-214-1465, david.bachert@invesco.com

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