Economics
Invesco Shifts $1 Billion on Signs U.S. Economy Is Back on Track
- A gauge used by one of its funds is now bullish on the outlook
- That ETF is positioning for expansion after six-month slowdown
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Invesco Ltd. has a lot riding on U.S. growth.
The Atlanta-based money manager has re-positioned a $1 billion exchange-traded fund after its proprietary signals indicated that the economy was returning to an expansionary environment, as renewed appetite for risk ended a six-month slowdown. The ETF has shed holdings in more defensive sectors such as health care and consumer staples, and added more growth-sensitive sectors, such as industrials.