Invesco GBP Overnight Return Swap UCITS ETF Acc

Issuer: Invesco

Asset Class: Fixed Income

TER: 10bps

Trading Currency: GBX

Pays Income: False

Listing Date: 30 Oct 2025

Ticker: GONS

ISIN: IE0006N7AK90

This fund is designed to provide investors with a return equivalent to the UK's sterling overnight interest rate, specifically by tracking the SONIA benchmark. It functions as an efficient tool for managing short-term cash balances, presenting a potential alternative to holding cash in a traditional deposit account. The primary objective is to deliver the performance of the overnight rate, less fees, offering a liquid and transparent method for earning a return on sterling holdings. This makes the investment particularly suitable for those looking to park cash for short durations while aiming to protect capital from the volatility associated with longer-duration fixed income or equity investments, especially during periods of market uncertainty.

The product utilises a synthetic swap-based structure to achieve its investment goal. This replication method facilitates very precise tracking of the benchmark index with minimal tracking error, as a swap counterparty commits to paying the index's return. This approach can be more efficient and cost-effective than physically holding a portfolio of short-term debt instruments. The fund is engineered for a diverse range of investors, from corporate treasurers managing liquidity to individual investors seeking a low-risk, highly liquid instrument for their sterling cash reserves. It can serve as a core component for cash management within a broader portfolio, providing daily liquidity and direct access to the UK money market rate.