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Invesco Global Asset Management LimitedGlobal DistributorGeorge’s Quay House43 Townsend Street, Dublin 2, IrelandTelephone: +353 1 439 8000 Facsimile: +353 1 439 8400Website: www.invesco.com

Invesco Asset Management Asia LimitedHong Kong Sub-Distributor and Representative32nd Floor, Three Pacific Place1 Queen's Road EastHong KongTelephone: + 852 3128 6000Facsimile : + 852 3128 6001Website: www.invesco.com.hk

Contact us Invesco Funds Interim Report

For the six months ended 31 August 2010 (Unaudited)

Halbjahresbericht für das Halbjahr zum 31. August 2010 (ungeprüft)

Rapport intérimaire et Comptes pour la période de six mois seterminant le 31 août 2010 (non audité)

Halvårsrapport og regnskaper for de seks månedene som bleavsluttet31. August 2010 (Urevidert)

Bilanci provvisori Bilanci provvisori per il semestre chiusoal 31 agosto 2010 (non sottoposti a revisione contabile)

Informe y Cuentas Semestrales correspondientes al semestrecerrado a31 de agosto de 2010 (sin auditar)

Relatório e Contas Anuais provisórios do semestre findo em 31 de agosto de 2010 (Não revistos)

218627 INVESCO Funds Cover.qxp 10/11/10 12:56 Page 1

01 Invesco Funds

Registered Office: Sitz: Statutaire zetel: Siège social: Registrert kontor: Sede Social: Domicilio Social: Sede Social:Yhtiön kotipaikka:

2-4 rue Eugène Ruppert, L-2453 Luxembourg

No subscription can be accepted on the basis of financial reports alone. Subscriptions, in order to be valid, must be made onthe basis of the current Prospectus supplemented by a copy of the latest available Audited Annual Report and AuditedAccounts and a copy of the latest Semi-Annual Report, if later than such Audited Annual Report.

Copies of the Prospectus, Audited Annual Report and Audited Accounts and Semi-Annual Report may be obtained at theRegistered Office of the Company (Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, as well as from the offices ofthe Global Distributor in Dublin. Notices of all General Meetings will be published in the Luxemburger Wort and, to the extentrequired by law, in the Mémorial, Recueil des Sociétés et Associations (“Mémorial”) and will be sent to holders of registeredShares at their address in the Register of Shareholders by post at least 15 days prior to meetings. In the event of anydiscrepancy between translations from English text into foreign languages, please note that the English text will prevail.

The notice required by Luxembourg law in respect of the issue and sale of Shares by the Fund has been deposited with theGreffe du Tribunal d’Arrondissement of Luxembourg.

Equalisation is calculated for tax reporting purposes and is not disclosed in the audited annual report.

Anteilszeichnungen können nicht aufgrund von Finanzberichten angenommen werden. Zeichnungen erfolgen auf derGrundlage des gültigen Prospektes und des letzten Jahresberichtes sowie des letzten Halbjahresberichtes, falls ein solcherzwischenzeitlich veröffentlicht wurde.

Exemplare des Verkaufsprospektes, des geprüften Jahresberichts und des Halbjahresberichts sind am Geschäftssitz des Fondsin, 2-4 rue Eugène Ruppert, L-2453 Luxembourg, sowie bei der weltweiten Vertriebsgesellschaft in Dublin erhältlich.Mitteilungen über sämtliche Hauptversammlungen werden im Luxemburger Wort veröffentlicht sowie, falls gesetzlichvorgeschrieben, im Mémorial, Recueil des Sociétés et Associations (“Mémorial”) und werden den Inhabern vonNamensanteilen mindestens 8 Tage vor dem Versammlungstermin auf dem Postweg an die im Anteilsregister eingetrageneAdresse zugesandt. Bei Abweichungen zwischen dem englischen Wortlaut und der Übersetzung in eine andere Sprache gilt derenglische Text als verbindlich.

Die nach luxemburgischem Recht erforderliche Mitteilung zu Ausgabe und Verkauf von Anteilen des Fonds wurde beimHandels- und Gesellschaftsregister des Bezirksgerichts Luxemburg (Greffe du Tribunal d’Arondissement) hinterlegt.

Der Ertragsausgleich wird zu Steuerzwecken berechnet und ist in dem geprüften Jahresbericht nicht ausgewiesen.

Aucune souscription ne peut être acceptée sur la foi des seuls rapports financiers. Pour qu’une souscription soit recevable, ilfaut que l’investisseur ait reçu un exemplaire du Prospectus en cours ainsi que du dernier Rapport annuel et des derniersComptes audités et, si ceux-ci sont parus après le dernier Rapport annuel, un exemplaire du dernier Rapport semestriel paru.

Le Prospectus, le Rapport annuel, les Comptes audités et les Comptes semestriels peuvent être demandés au Siège social dela (Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, et auprès des bureaux du Distributeur mondial à Dublin. Lesavis de convocation aux Assemblées générales seront publiés dans le Luxemburger Wort et, dans la mesure où la loi l’exige,dans le Mémorial, Recueil des Sociétés et des Associations (dénommé ci-après le « Mémorial ») et ils seront envoyés par voiepostale aux détenteurs d’Actions nominatives, à l’adresse figurant dans le Registre des Actionnaires, au moins 8 jours avant ladate de l’assemblée. Au cas où une différence apparaîtrait entre les traductions et le texte original en anglais, veuillez noterque le texte anglais fera fois.

La péréquation est calculée à des fins de déclaration fiscale. Elle n’est pas mentionnée dans le rapport annuel audité.

Tegning av aksjer aksepteres ikke på grunnlag av regnskapene alene. For å være gyldig må tegning av aksjer gjøres pågrunnlag av gjeldende prospekt sammen med den siste tilgjengelige årsrapporten og de reviderte regnskapene og den sistehalvårsrapporten, hvis denne er utgitt etter årsrapporten.

Kopier av prospektet, årsrapporten, reviderte regnskaper og halvårsrapporten er tilgjengelig fra fondets registrerte kontor på(Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, samt fra kontorene til den globale distributøren i Dublin.Innkallelser til alle generalforsamlinger vil bli kunngjort i Luxemburger Wort, og i den utstrekning det kreves av loven, iMémorial, Recueil des Sociétés et Associations (“Mémorial”) og vil bli sendt med post til eiere av registrerte aksjer til denadresse som står i aksjonærregisteret minst 8 dager før møtet. Bei Abweichungen zwischen dem englischen Wortlaut und derÜbersetzung in eine andere Sprache gilt der englische Text als verbindlich.

Bekjentgjørelsen som kreves av loven i Luxembourg med hensyn til utstedelse og salg av aksjer av fondet er blitt deponert hosGreffe du Tribunal d’Arrondissement de et à Luxembourg.

Regulering beregnes av hensyn til skatterapporteringen, og blir ikke tatt med i den reviderte årsrapporten.

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02 Invesco Funds

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Non potranno essere accettate sottoscrizioni sulla base solamente delle relazioni finanziarie. Per essere valide, le sottoscrizionidebbono essere effettuate sulla base del Prospetto vigente corredato da una copia dell’ultima Relazione Annuale Certificatadisponible e da una copia dell’ultima Relazione Semestrale, se successiva all’ultima Relazione Annuale.

Copie del Prospetto, della Relazione Annuale e della Relazione Semestrale possono essere ottenute presso la Sede Legaledella (Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, nonché presso gli uffici del Distributore Globale a Dublino.Le convocazioni di tutte le Assemblee Generali saranno pubblicate sul Luxemburger Wort e, se previsto dalla legge, sulMémorial, Recueil des Sociétés et Associations (“Mémorial”), oltre ad essere inviate per posta ai detentori di Azioninominative all’indirizzo riportato nel Registro degli Azionisti 8 giorni prima dell’assemblea. In caso di discrepanze tra laversione inglese originale e le traduzioni in lingue straniere, si sottolinea che prevarrà il testo inglese.

L’avviso prescritto dalla legge del Lussemburgo in materia di emissione e vendita di Azioni da parte della SICAV è statodepositato presso la Cancelleria del Tribunale Distrettuale di ed a Lussemburgo.

La perequazione è calcolata a fini di rendicontazione fiscale e non è rilevata nella relazione annuale sottoposta a revisione.

No se aceptarán suscripciones basadas únicamente en los estados financieros. Para su validez, las suscripciones deberánformularse con base al Folleto Informativo vigente, acompañado de un ejemplar del último Informe Anual auditado disponibley, de ser posterior a éste, del último Informe Semestral.

Podrán obtenerse copias del Folleto Informativo, del Informe Anual auditado y del Informe Semestral en el Domicilio Social del(Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, así como en las oficinas del Distribuidor Mundial en Dublín. Lasconvocatorias de todas las Juntas Generales Ordinarias se publicarán en el Luxemburger Wort y, en la medida en que así lorequiera la ley, en el Mémorial, Recueil des Sociétés et Associations (“Mémorial”), remitiéndose asimismo por correo a lostitulares de Acciones nominativas a sus direcciones inscritas en el Libro Registro de Accionistas al menos 8 días antes de lasjuntas. En caso de discrepancia entre el texto en inglés y sus traducciones a otros idiomas, prevalecerá el texto en inglés.

La compensación se calcula para fines impositivos y no se incluye en el informe anual auditado.

As subscrições fundamentadas exclusivamente em relatórios financeiros não são aceites. Para terem validade, as subscriçõesdevem ser realizadas com base no Prospecto actual acompanhado pelo exemplar do último Relatório Anual e Contas Revistase um exemplar o Relatório Semestral mais recente, caso este tenha data posterior à do Relatório Anual.

Os interessados podem obter exemplares do Prospecto, Relatório Anual e Contas Revistas, assim como do RelatórioSemestral, (Invesco Funds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, e dos escritórios do Distribuidor Mundial, em Dublin.As convocatórias de todas as Assembleias-Gerais serão publicadas no Luxemburger Wort e, no âmbito exigido por lei, noMémorial, Recueil des Sociétés et Associations (“Memorial”), sendo enviadas para os titulares de acções nominativas, para asmoradas constantes do Livro de Registo de Accionistas, com uma antecedência mínima de 8 dias relativamente à data dasreferidas assembleias. No caso de discrepâncias entre as traduções do texto em inglês para os idiomas estrangeiros, a versãoinglesa prevalecerá

A equalização é calculada para fins declaração de impostos e por isso não consta do relatório anual auditado.

Invesco Funds Interim


03 Invesco Funds

PageSeitePageSide

Statement of Wertpapierbestand Portefeuille de InvesteringsbeholdningInvestments placements

Equity Funds Aktienfonds Compartiments d’actions Aksjefond

Global Global Mondiaux GlobaleInvesco Global Structured Equity Fund 5-7

America Amerika Amérique AmerikaInvesco US Structured Equity Fund 8-10Invesco US 130/30 Equity Fund 11-13Invesco Latin American Equity Fund 14-15

Europe Europa Europe EuropaInvesco Pan European Structured Equity Fund 16-18Invesco Pan European Equity Fund 19-20Invesco Pan European Small Cap Equity Fund 21-24Invesco European Growth Equity Fund 25-26Invesco Pan European Equity Income Fund 27-29Invesco Pan European 130/30 Equity Fund 30-31Invesco Emerging Europe Equity Fund 32-33

Japan Japan Japon JapanInvesco Nippon Small/Mid Cap Equity Fund 34-35Invesco Nippon Select Equity Fund 36-37

Asia Asien Asie AsiaInvesco Asia Opportunities Equity Fund 38-39Invesco Greater China Equity Fund 40-41Invesco Asia Infrastructure Fund 42-44Invesco India Equity Fund 45-46Invesco Asia Consumer Demand Fund 47-49

Theme Funds Themenfonds Compartiments sectoriels TemafondInvesco Global Leisure Fund 50-51Invesco Energy Fund 52-53Invesco Asia Pacific Real Estate Securities Fund 54-55Invesco Global Income Real Estate Securities Fund 56-59Invesco Emerging Markets Quantitative Equity Fund 60-63Invesco Gold & Precious Metals Fund 64-65

Reserve Funds Reservefonds Compartiments monétaires ReservefondInvesco USD Reserve Fund 66Invesco Euro Reserve Fund 67

Bond Funds Rentenfonds Compartiments obligataires ObligasjonsfondInvesco Global Bond Fund 68Invesco European Bond Fund 69-70Invesco Absolute Return Bond Fund 71Invesco Euro Corporate Bond Fund 72-75Invesco Euro Inflation-Linked Bond Fund 76Invesco UK Investment Grade Bond Fund 77-78Invesco Emerging Local Currencies Debt Fund 79-80Invesco Global Investment Grade Corporate Bond Fund 81-83Invesco Global Unconstrained Bond Fund 84

Structured Fund Strukturierte Fonds Compartiments structurés Strukturert fondInvesco Capital Shield 90 (EUR) Fund 85

Mixed Fund Mischfonds Compartiments mixtes BlandingsfondIInvesco Asia Balanced Fund 86-89Invesco Pan European High Income Fund 90-93Invesco Global Absolute Return Fund 94Invesco Balanced-Risk Allocation Fund 95

CONTENTS INHALT SOMMAIRE INNHOLD

Invesco Funds


04 Invesco Funds

PageSeitePageSide

Financial Statements Finanzausweise Etats financiers Regnskaper

Statement of Aufstellung des Etat de l’actif net Regnskap forNet Assets Nettovermögens netto eiendeler 96-103

Notes to the Financial Erläuterungen zu Notes aux états Noter tilStatements den Finanzausweisen financiers regnskapene 104-187

Board of Directors Verwaltungsrat Conseil d’Administration Styre 379-385

Organisation Organisation Organisation Organisasjon 379-385

CONTENTS INHALT SOMMAIRE INNHOLD

Invesco Funds


05 Invesco Funds

Invesco Global Structured Equity Fund

Statement of Investments as at 31 August 2010 / Wertpapierbestand zum 31. August 2010Portefeuille de placements au 31 août 2010 / Beholdning av investeringer pr. 31. August 2010

Investment Nominal/Shares Market Value Net AssetsWertpapiere Nennwert/Aktien Marktwert NettovermögenPlacement Valeur nominale / Actions Valeur de marché Actif netInvestering Pålydende/Aksjer Markedsverdi Netto eiendeler

USD %

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKET

AN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE

VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS TITRES CESSIBLES NÉGOCIÉS SUR

D’AUTRES MARCHÉS RÉGLEMENTÉS

OMSETTELIGE OG OFFISIELT BØRSNOTERTE VERDIPAPIRER OG OMSETTELIGE VERDIPAPIRER OMSATT PÅ ANDRE REGULERTE MARKEDER

EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAAnsell Ltd 4,891 58,677 0.24

BHP Billiton Ltd 12,318 406,264 1.64

Coca-Cola Amatil Ltd 27,523 292,085 1.17

Cochlear Ltd 1,104 68,012 0.28

Iluka Resources Ltd 9,978 49,348 0.20

Metcash Ltd 28,167 109,964 0.45

Telstra Corp Ltd 153,867 377,404 1.53

1,361,754 5.51

BELGIUM BELGIEN BELGIQUE BELGIABelgacom SA 3,955 140,588 0.57

Colruyt SA 372 92,064 0.37

Delhaize Group SA 1,646 110,079 0.45

Mobistar SA 3,165 177,037 0.71

519,768 2.10

BERMUDA BERMUDAS BERMUDES BERMUDAAllied World Assurance Co Holdings Ltd 3,500 173,075 0.71

Catlin Group Ltd 31,435 158,300 0.64

Endurance Specialty Holdings Ltd 1,300 48,126 0.19

379,501 1.54

CANADA KANADA CANADA CANADABank of Montreal 4,382 241,224 0.98

Baytex Energy Trust 2,700 89,701 0.36

BCE Inc 20,200 633,731 2.56

CGI Group Inc 12,200 170,878 0.69

Enbridge Inc 7,749 386,823 1.57

Fairfax Financial Holdings Ltd 591 230,863 0.93

George Weston Ltd 2,100 165,391 0.67

Intact Financial Corp 2,600 109,765 0.44

Loblaw Cos Ltd 1,500 62,194 0.25

Metro Inc 2,600 112,882 0.46

National Bank of Canada 3,200 184,945 0.75

Rogers Communications Inc 18,900 668,759 2.71

TELUS Corp 7,000 291,327 1.18

TELUS Corp (Non-voting) 2,600 103,287 0.42

3,451,770 13.97

DENMARK DÄNEMARK DANEMARK DANMARKColoplast A/S 798 84,715 0.34

Novo Nordisk A/S 7,483 634,238 2.57

718,953 2.91

FRANCE FRANKREICH FRANCE FRANKRIKESanofi-Aventis SA 2,126 122,061 0.49

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDHannover Rueckversicherung AG 3,970 174,853 0.71

HONG KONG HONG KONG HONG KONG HONG KONGCLP Holdings Ltd 26,000 198,743 0.80


06 Invesco Funds




USD %

IRELAND IRLAND IRLANDE IRLANDKerry Group Plc 4,871 156,022 0.63

Ryanair Holdings Plc 19,231 93,980 0.38

Warner Chilcott Plc 4,600 131,606 0.53

381,608 1.54

ITALY ITALIEN ITALIE ITALIAMediaset SpA 30,333 186,904 0.76Parmalat SpA 29,137 70,095 0.28Snam Rete Gas SpA 53,109 244,738 0.99Terna Rete Elettrica Nazionale SpA 143,943 577,068 2.34

1,078,805 4.37

JAPAN JAPAN JAPON JAPANAsahi Breweries Ltd 17,200 323,061 1.31

Astellas Pharma Inc 12,376 426,616 1.73

Benesse Holdings Inc 5,500 246,118 1.00

Central Japan Railway Co 12 96,373 0.39

Chubu Electric Power Co Inc 16,349 428,493 1.73

Daito Trust Construction Co Ltd 4,400 251,660 1.02

East Japan Railway Co 5,300 341,144 1.38

Hisamitsu Pharmaceutical Co Inc 3,900 160,304 0.65

Hokuriku Electric Power Co 2,800 66,631 0.27

Lawson Inc 3,800 172,523 0.70

Miraca Holdings Inc 5,700 189,831 0.77

Nippon Express Co Ltd 27,000 93,937 0.38

Nippon Telegraph & Telephone Corp 10,000 429,410 1.74

Nitto Denko Corp 4,200 134,250 0.54

Osaka Gas Co Ltd 58,000 217,259 0.88

Shikoku Electric Power Co Inc 2,600 80,133 0.32

Takeda Pharmaceutical Co Ltd 14,200 648,897 2.62

Tohoku Electric Power Co Inc 2,502 57,819 0.23

Tokyo Gas Co Ltd 126,000 583,997 2.37

Toyo Suisan Kaisha Ltd 7,435 155,953 0.63

Yamato Holdings Co Ltd 7,400 86,579 0.35

5,190,988 21.01

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDKoninklijke KPN NV 20,885 299,620 1.21

SWEDEN SCHWEDEN SUEDE SVERIGESvenska Handelsbanken AB 10,154 262,211 1.06

Swedish Match AB 5,888 134,779 0.55

396,990 1.61

SWITZERLAND SCHWEIZ SUISSE SVEITSNovartis AG 11,151 585,164 2.37

Roche Holding AG (Gebusscheine) 4,434 600,808 2.42

Schindler Holding AG 753 73,815 0.30

Swisscom AG 1,157 446,229 1.81

1,706,016 6.90

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAstraZeneca Plc 12,809 633,717 2.56

AstraZeneca Plc (SE Line) 2,178 107,792 0.44

Berkeley Group Holdings Plc 3,654 45,635 0.18

Compass Group Plc 53,996 442,701 1.80

Mondi Plc 7,221 51,141 0.21

Next Plc 13,530 410,831 1.66

Provident Financial Plc 21,842 278,434 1.13

Reckitt Benckiser Group Plc 12,811 640,785 2.59

Stagecoach Group Plc 96,594 254,618 1.03

2,865,654 11.60


07 Invesco Funds




USD %

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAbbott Laboratories 2,300 113,850 0.46

AmerisourceBergen Corp 11,092 306,417 1.24

Amgen Inc 7,000 361,480 1.46

Career Education Corp 2,400 42,948 0.17

Cimarex Energy Co 1,200 78,636 0.32

Del Monte Foods Co 31,400 409,926 1.66

DR Horton Inc 28,800 296,208 1.20

Exxon Mobil Corp 5,300 312,620 1.27

Gannett Co Inc 5,400 65,718 0.27

Hershey Co 3,300 151,124 0.61

InterActiveCorp 14,200 348,255 1.41

ITT Educational Services Inc 600 32,781 0.13

Lincare Holdings Inc 26,300 619,101 2.52

Micron Technology Inc 22,200 145,077 0.59

Omnicare Inc 9,100 177,405 0.72

Oshkosh Corp 9,700 243,373 0.98

ResMed Inc 49,968 151,033 0.61

Sunoco Inc 4,900 166,527 0.67

Tellabs Inc 88,000 634,040 2.56

Walter Energy Inc 2,600 178,113 0.72

4,834,632 19.57

TOTAL EQUITIES AKTIEN INSGESAMT TOTAL ACTIONS SUM EGENKAPITAL23,681,716 95.84

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 23,681,716 95.84

Total Gesamtanlagen Total des Sum Investments investissements investeringer 23,681,716 95.84

The accompanying notes form an integral part of these financial statements./Die in diesem Dokument enthaltenen Erläuterungen sind wichtiger

Bestandteil dieser Finanzausweise/Les notes associées font partie intégrante de ces états financiers./Følgesedlene er en integrert del av dette

regnskapet.


08 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBASIC MATERIALS ROHSTOFFE MATERIAUX DE BASE GRUNNMATERIALERFreeport-McMoRan Copper & Gold Inc 13,500 949,995 1.54

International Paper Co 34,300 685,486 1.11

Lubrizol Corp 1,400 129,479 0.21

Newmont Mining Corp 1,800 107,865 0.17

Titanium Metals Corp 11,000 197,890 0.32

2,070,715 3.35

COMMUNICATIONS KOMMUNIKATION COMMUNICATIONS KOMMUNIKASJONAOL Inc 4,000 88,620 0.14

AT&T Inc 77,900 2,074,866 3.35

CBS Corp 45,000 615,150 1.00

Gannett Co Inc 82,000 997,940 1.62


Motorola Inc 39,800 299,495 0.49

New York Times Co 4,000 29,180 0.05

Sprint Nextel Corp 32,000 125,120 0.20

Tellabs Inc 40,400 291,082 0.47

Time Warner Inc 23,900 706,962 1.15

Verizon Communications Inc 28,800 847,584 1.37

6,544,427 10.60

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICALS KONSUMGÜTER CYCLIQUES FORBRUKERVARERDR Horton Inc 84,600 870,111 1.41

Ford Motor Co 124,700 1,415,968 2.30

Harley-Davidson Inc 4,900 119,683 0.19

Home Depot Inc 12,700 355,346 0.58

Jones Apparel Group Inc 24,200 366,993 0.59

Ltd Brands Inc 42,200 1,018,286 1.65

Macy’s Inc 43,100 826,658 1.34

Oshkosh Corp 17,000 426,530 0.69

Sears Holdings Corp 1,800 111,069 0.18

Starbucks Corp 37,900 887,808 1.44

Wyndham Worldwide Corp 18,800 434,656 0.70

Wynn Resorts Ltd 7,700 629,629 1.02

7,462,737 12.09

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERAbbott Laboratories 4,200 207,900 0.34

Amgen Inc 24,500 1,265,180 2.05

Cardinal Health Inc 5,000 151,000 0.24


Cephalon Inc 4,000 227,160 0.37

Coca-Cola Co 19,300 1,071,729 1.74

Colgate-Palmolive Co 1,100 81,268 0.13

Eli Lilly & Co 32,700 1,110,492 1.80

Forest Laboratories Inc 4,700 129,697 0.21

Hershey Co 700 32,057 0.05

Humana Inc 7,000 335,895 0.54

Johnson & Johnson 34,100 1,953,247 3.17

Medtronic Inc 24,000 766,680 1.24

Pfizer Inc 76,000 1,204,600 1.95

Philip Morris International Inc 26,500 1,362,763 2.21

Procter & Gamble Co 35,800 2,124,908 3.45

Tyson Foods Inc 35,600 583,484 0.95

UnitedHealth Group Inc 38,600 1,231,147 1.99

13,928,682 22.57

Invesco US Structured Equity Fund



USD %


09 Invesco Funds



ENERGY ENERGIE ENERGIE ENERGICanadian Natural Resources Ltd 3,800 123,709 0.20

Chevron Corp 24,800 1,830,116 2.96

ConocoPhillips 26,500 1,395,888 2.26

Exxon Mobil Corp 47,200 2,784,092 4.52

Occidental Petroleum Corp 17,100 1,261,638 2.04

7,395,443 11.98

FINANCIAL FINANZWESEN FINANCE FINANSAmerican Express Co 33,200 1,324,845 2.15

Berkshire Hathaway Inc 10,500 818,055 1.33

Capital One Financial Corp 26,900 1,012,919 1.64

Comerica Inc 5,200 174,018 0.28

Commerce Bancshares Inc 900 32,180 0.05

Equity Residential 700 31,651 0.05

Fifth Third Bancorp 81,500 885,497 1.43

Franklin Resources Inc 1,300 125,314 0.20

Goldman Sachs Group Inc 4,650 635,446 1.03

IntercontinentalExchange Inc 1,100 103,906 0.17

JPMorgan Chase & Co 1,400 50,218 0.08

M&T Bank Corp 3,700 314,537 0.51

PNC Financial Services Group Inc 8,200 412,952 0.67

Prudential Financial Inc 20,000 1,001,599 1.62

Simon Property Group Inc 400 35,924 0.06

Travelers Cos Inc 2,900 141,970 0.23

US Bancorp 10,900 225,794 0.37

Vornado Realty Trust 2,300 185,196 0.30

Wells Fargo & Co 39,600 920,897 1.49

XL Group Plc 29,200 516,548 0.84

8,949,466 14.50

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRI3M Co 3,700 294,613 0.48

Emerson Electric Co 4,500 209,430 0.34

Flextronics International Ltd 90,000 452,250 0.73

General Electric Co 9,400 136,441 0.22

Joy Global Inc 4,500 251,528 0.41

Tyco Electronics Ltd 5,500 137,005 0.22

United Parcel Service Inc 7,200 460,188 0.75

United Technologies Corp 11,800 771,837 1.24

Waste Management Inc 1,400 46,823 0.08

2,760,115 4.47

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIApple Inc 2,200 533,566 0.86

CA Inc 22,700 408,714 0.66

Dell Inc 35,800 430,495 0.70

Hewlett-Packard Co 32,200 1,241,793 2.01

Intel Corp 31,800 570,969 0.92

International Business Machines Corp 16,500 2,036,182 3.30

Lexmark International Inc 20,900 734,635 1.19


Microsoft Corp 87,300 2,064,208 3.35

SanDisk Corp 23,400 802,152 1.30

Seagate Technology Plc 16,900 178,718 0.29

9,764,720 15.82

UTILITIES VERSORGUNG SERVICES PUBLICS BASISTJENESTERConstellation Energy Group Inc 7,800 227,058 0.37

Exelon Corp 19,900 806,547 1.30

1,033,605 1.67



USD %


10 Invesco Funds






Bestandteil dieser Finanzausweise./Les notes associées font partie intégrante de ces états financiers./Følgesedlene er en integrert del av dette

regnskapet.


USD %


11 Invesco Funds

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET





EQUITIES AKTIEN ACTIONS AKSJERCANADA KANADA CANADA CANADACanadian Natural Resources Ltd 800 26,044 0.68

Teck Resources Ltd 200 6,625 0.17

32,669 0.85

IRELAND IRLAND IRLANDE IRLANDCooper Industries Plc 600 25,290 0.66


XL Group Plc 2,600 45,994 1.19

94,549 2.45

SINGAPORE SINGAPUR SINGAPOUR SINGAPOREFlextronics International Ltd 5,000 25,125 0.65

SWITZERLAND SCHWEIZ SUISSE SVEITSNoble Corp 700 21,966 0.57

Transocean Ltd 200 10,476 0.27


Tyco International Ltd 1,000 37,710 0.98

97,553 2.53

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USA3M Co 100 7,963 0.21

Abbott Laboratories 300 14,850 0.39

Activision Blizzard Inc 400 4,242 0.11

Akamai Technologies Inc 200 9,237 0.24

American Express Co 1,200 47,886 1.24

Amgen Inc 1,500 77,459 2.01

AOL Inc 200 4,431 0.12

Apple Inc 100 24,253 0.63

Berkshire Hathaway Inc 600 46,746 1.21

Biogen Idec Inc 100 5,393 0.14

CA Inc 1,800 32,409 0.84

Capital One Financial Corp 1,700 64,013 1.67

Cardinal Health Inc 300 9,060 0.24

Career Education Corp 600 10,737 0.28

CBS Corp 2,200 30,074 0.78

Cephalon Inc 800 45,431 1.18

Cimarex Energy Co 500 32,765 0.85

Coca-Cola Co 200 11,106 0.29

Comerica Inc 300 10,040 0.26

Computer Sciences Corp 200 8,033 0.21

ConocoPhillips 1,400 73,745 1.91

Constellation Energy Group Inc 1,000 29,110 0.76

Convergys Corp 500 5,085 0.13

CROCS Inc 1,400 17,059 0.44

Cypress Semiconductor Corp 2,300 23,817 0.62

Dell Inc 5,000 60,124 1.56

Dover Corp 300 13,349 0.35

DR Horton Inc 5,500 56,567 1.47

Eastman Chemical Co 100 6,016 0.16

Eastman Kodak Co 4,200 15,099 0.39

Edison International 700 23,401 0.61

Eli Lilly & Co 400 13,584 0.35

Exelon Corp 1,800 72,954 1.89

Expedia Inc 1,500 34,118 0.89


Ford Motor Co 6,800 77,213 2.01

Forest Laboratories Inc 900 24,836 0.64

Freeport-McMoRan Copper & Gold Inc 1,100 77,406 2.01

Invesco US 130/30 Equity Fund



USD %


12 Invesco Funds

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Gannett Co Inc 4,800 58,415 1.51

Gap Inc 700 11,823 0.31


Gilead Sciences Inc 200 6,483 0.17

Goldman Sachs Group Inc 200 27,331 0.71

Harman International Industries Inc 300 9,449 0.25

Hershey Co 700 32,057 0.83

Hologic Inc 1,900 26,800 0.70

Home Depot Inc 1,300 36,374 0.94

Humana Inc 1,100 52,783 1.37

Huntington Bancshares Inc 1,900 9,966 0.26

Illinois Tool Works Inc 600 24,711 0.64

Intel Corp 1,500 26,933 0.70


IntercontinentalExchange Inc 300 28,338 0.74


Interpublic Group of Cos Inc 3,900 33,033 0.86

ITT Corporation 100 4,321 0.11

Johnson & Johnson 200 11,456 0.30


Joy Global Inc 500 27,947 0.73

JPMorgan Chase & Co 400 14,348 0.37

Key Corp 800 5,820 0.15

KLA-Tencor Corp 100 2,842 0.07

L-3 Communications Holdings Inc 400 26,811 0.70

Leggett & Platt Inc 100 1,910 0.05

Lennar Corp 900 11,813 0.31


Liberty Media Corp - Interactive 1,200 12,714 0.33

Ltd Brands Inc 2,700 65,150 1.69

Lubrizol Corp 300 27,746 0.72

M&T Bank Corp 500 42,505 1.10

Macy’s Inc 2,200 42,196 1.10

Masco Corp 300 3,125 0.08

MeadWestvaco Corp 800 17,260 0.45

Medtronic Inc 1,800 57,500 1.49


Microsoft Corp 600 14,187 0.37

Motorola Inc 7,700 57,942 1.50

National Oilwell Varco Inc 1,700 64,005 1.66

National Semiconductor Corp 1,400 17,759 0.46

New York Community Bancorp Inc 800 12,492 0.32


Newmont Mining Corp 400 23,970 0.62

Occidental Petroleum Corp 1,100 81,158 2.11

Omnicom Group Inc 100 3,512 0.09

Oshkosh Corp 1,200 30,108 0.78

Parker Hannifin Corp 300 17,811 0.46

Peabody Energy Corp 400 16,764 0.44

PetSmart Inc 100 3,203 0.08

Pfizer Inc 900 14,265 0.37

Philip Morris International Inc 300 15,428 0.40

Pioneer Natural Resources Co 200 11,623 0.30

PNC Financial Services Group Inc 400 20,144 0.52

PPG Industries Inc 600 39,285 1.02

Principal Financial Group Inc 500 11,253 0.29

Prudential Financial Inc 1,200 60,095 1.57

Pulte Group Inc 700 5,639 0.15

Raytheon Co 400 17,690 0.46

Rockwell Automation Inc 200 10,214 0.27

Safeway Inc 700 13,339 0.35




USD %


13 Invesco Funds




USD %

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)SanDisk Corp 500 17,140 0.44

Sara Lee Corp 1,800 25,821 0.67

Sealed Air Corp 400 8,260 0.21

Sears Holdings Corp 400 24,682 0.64


Starbucks Corp 2,400 56,219 1.46

Starwood Hotels & Resorts Worldwide Inc 200 9,197 0.24

Symantec Corp 2,300 31,476 0.82

Telephone & Data Systems Inc 200 6,092 0.16

Tellabs Inc 6,500 46,833 1.22

Teradata Corp 300 9,555 0.25

Texas Instruments Inc 1,200 27,906 0.72


Tyson Foods Inc 2,600 42,614 1.11

United Parcel Service Inc 500 31,957 0.83

United Technologies Corp 700 45,786 1.18

UnitedHealth Group Inc 2,700 86,116 2.23

URS Corp 300 10,745 0.28

Ventas Inc 200 10,085 0.26


Virgin Media Inc 1,800 35,973 0.93

Vornado Realty Trust 100 8,052 0.21


Wynn Resorts Ltd 200 16,354 0.42

Xilinx Inc 100 2,434 0.06

3,398,940 88.25






regnskapet.


14 Invesco Funds

Invesco Latin American Equity Fund







EQUITIES AKTIEN ACTIONS AKSJERARGENTINA ARGENTINIEN ARGENTINE ARGENTINATelecom Argentina SA ADR 1,600 30,192 0.98

BAHAMAS BELGIEN BELGIQUE BELGIAPetrominerales Ltd 750 17,760 0.58

BERMUDA BERMUDAS BERMUDES BERMUDACredicorp Ltd 425 44,825 1.46

BRAZIL BRAZIL BRÉSIL BRASILAliansce Shopping Centers SA 4,800 31,273 1.02

Banco ABC Brasil SA 3,700 28,911 0.94

Banco do Brasil SA 6,100 95,970 3.12

Banco do Estado do Rio Grande do Sul 3,800 34,076 1.11

Banco Panamericano SA 5,300 23,975 0.78

BM&FBovespa SA 8,200 58,621 1.91

BRF - Brasil Foods SA 3,600 46,071 1.50

Brookfield Incorporacoes SA 8,100 42,555 1.38

Cia de Bebidas das Americas ADR 425 45,785 1.49

Cia de Transmissao de Energia Electrica Paulista 1,300 36,735 1.19

Cia Hering 1,700 66,065 2.15

Cia Siderurgica Nacional SA 3,800 58,208 1.89

EcoRodovias Infraestrutura e Logistica SA 7,000 43,220 1.41

EDP - Energias do Brasil SA 2,000 42,598 1.39

Even Construtora e Incorporadora SA 7,500 35,056 1.14

Fibria Celulose SA 2,700 40,691 1.32

Helbor Empreendimentos SA 3,000 27,917 0.91

Iguatemi Empresa de Shopping Centers SA 1,700 32,871 1.07

Itau Unibanco Holding SA ADR 10,600 220,585 7.18

Julio Simoes Logistica SA 7,500 35,759 1.16

Localiza Rent a Car SA 3,300 45,158 1.47

Multiplan Empreendimentos Imobiliarios SA 2,000 37,427 1.22

Odontoprev SA 4,200 44,394 1.44

OGX Petroleo e Gas Participacoes SA 10,200 119,841 3.90

Parana Banco SA 6,100 34,838 1.13

Petroleo Brasileiro SA ADR 4,200 121,589 3.95

Petroleo Brasileiro SA ADS 3,250 106,600 3.47

Souza Cruz SA 1,100 50,225 1.63

Suzano Papel e Celulose SA 4,300 38,462 1.25

Totvs SA 650 47,030 1.53

TPI - Triunfo Participacoes e Investimentos SA 8,300 29,857 0.97

Trisul SA 8,000 29,437 0.96

Ultrapar Participacoes SA 975 52,947 1.72

Usinas Siderurgicas de Minas Gerais SA 1,600 39,984 1.30

Vale SA ADR 10,425 275,219 8.96

Vivo Participacoes SA ADR 1,775 42,778 1.39

2,162,728 70.35

CANADA KANADA CANADA CANADAAlamos Gold Inc 500 8,138 0.26

Guyana Goldfields Inc 839 7,412 0.24

Pacific Rubiales Energy Corp 775 18,312 0.60

Silver Wheaton Corp 600 13,725 0.45

Ventana Gold Corp 750 5,974 0.19

53,561 1.74


USD %


15 Invesco Funds



CHILE CHILE CHILI CHILECia Cervecerias Unidas SA 4,250 48,544 1.58

Empresas La Polar SA 6,900 48,342 1.57

96,886 3.15

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGTernium SA ADR 500 16,253 0.53

MEXICO MEXIKO MEXIQUE MEXICOAmerica Movil SAB de CV ADR 3,325 153,498 4.99

Bolsa Mexicana de Valores SAB de CV 16,200 25,101 0.82

Corp GEO SAB de CV 10,900 28,063 0.91

Fomento Economico Mexicano SAB de CV ADR 800 39,380 1.28

Genomma Lab Internacional SA de CV 23,900 44,857 1.46

Grupo Financiero Banorte SAB de CV 7,800 27,743 0.90

Grupo Mexico SAB de CV 15,400 39,368 1.28

Industrias CH SAB de CV 11,800 43,428 1.42

Kimberly-Clark de Mexico SAB de CV 6,400 36,870 1.20

Mexichem SAB de CV 16,200 41,942 1.36

Wal-Mart de Mexico SAB de CV 25,300 55,075 1.79

535,325 17.41

PANAMA PANAMA PANAMA PANAMACopa Holdings SA 875 42,166 1.37

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAntofagasta Plc 2,300 35,798 1.16

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAGran Tierra Energy Inc 3,300 20,588 0.67






regnskapet.


USD %


16 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBELGIUM BELGIEN BELGIQUE BELGIABelgacom SA 193,061 5,411,500 1.97

Colruyt SA 7,882 1,538,172 0.56

Delhaize Group SA 39,623 2,089,519 0.76

Mobistar SA 26,301 1,160,071 0.42

10,199,262 3.71

BERMUDA BERMUDAS BERMUDES BERMUDALancashire Holdings Ltd 207,072 1,329,910 0.48

DENMARK DÄNEMARK DANEMARK DANMARKColoplast A/S 28,155 2,356,872 0.86

FLSmidth & Co A/S 9,671 443,134 0.16

Novo Nordisk A/S 97,964 6,547,342 2.38

9,347,348 3.40

FINLAND FINNLAND FINLANDE FINLANDFortum OYJ 346,307 6,273,351 2.28

Orion OYJ 106,182 1,517,872 0.55

Tieto OYJ 96,958 1,263,848 0.46

9,055,071 3.29

FRANCE FRANKREICH FRANCE FRANKRIKECie Generale d’Optique Essilor International SA 45,815 2,189,728 0.80

France Telecom SA 146,231 2,325,438 0.85

Metropole Television SA 43,416 697,261 0.25

Rhodia SA 307,139 4,519,550 1.64

Sanofi-Aventis SA 138,180 6,255,755 2.27

Schneider Electric SA 20,168 1,658,314 0.60

SEB SA 35,020 2,024,856 0.74

Societe BIC SA 23,873 1,368,400 0.50

Total SA 95,935 3,506,424 1.27

Valeo SA 238,657 6,568,438 2.38

31,114,164 11.30

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDAurubis AG 93,129 2,897,942 1.05

Fresenius Medical Care AG & Co KGaA 35,922 1,605,713 0.58

Fuchs Petrolub AG 18,231 1,383,551 0.50

Hannover Rueckversicherung AG 119,446 4,148,360 1.51

Rheinmetall AG 71,103 3,056,895 1.12

RWE AG 97,550 5,008,217 1.82

18,100,678 6.58

IRELAND IRLAND IRLANDE IRLANDPaddy Power Plc 36,720 1,006,679 0.37

ITALY ITALIEN ITALIE ITALIAEnel SpA 776,646 2,874,561 1.04

Mediaset SpA 1,075,467 5,225,425 1.90

Terna Rete Elettrica Nazionale SpA 2,178,494 6,886,764 2.50

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGTenaris SA 277,405 3,668,681 1.33

Invesco Pan European Structured Equity Fund



EUR %


17 Invesco Funds

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDASML Holding NV 262,075 5,146,498 1.87

CSM 43,615 875,898 0.32

Koninklijke Ahold NV 672,819 6,486,312 2.35

Koninklijke KPN NV 486,669 5,505,443 2.00

Koninklijke Philips Electronics NV 76,815 1,675,527 0.61

TNT NV 297,870 5,882,932 2.14

25,572,610 9.29

NORWAY NORWEGEN NORVEGE NORGETGS Nopec Geophysical Co ASA 602,653 6,422,291 2.33

PORTUGAL PORTUGAL PORTUGAL PORTUGALEDP - Energias de Portugal SA 1,537,238 3,690,140 1.34

Jeronimo Martins SGPS SA 148,355 1,284,680 0.47

4,974,820 1.81

SPAIN SPANIEN ESPAGNE SPANIAGestevision Telecinco SA 60,006 460,726 0.17

Tecnicas Reunidas SA 96,470 3,782,589 1.37

Viscofan SA 26,643 614,654 0.22

4,857,969 1.76

SWEDEN SCHWEDEN SUEDE SVERIGEAlfa Laval AB 383,202 4,317,109 1.57

Svenska Handelsbanken AB 165,599 3,372,058 1.23

Tele2 AB 338,752 4,760,498 1.72

12,449,665 4.52

SWITZERLAND SCHWEIZ SUISSE SVEITSNovartis AG 178,755 7,396,803 2.68

Roche Holding AG (Gebusscheine) 66,660 7,122,431 2.59

Schindler Holding AG 44,031 3,403,536 1.24

Swisscom AG 23,698 7,207,067 2.62

Zurich Financial Services AG 35,138 6,089,496 2.21

31,219,333 11.34

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAggreko Plc 47,757 823,530 0.30

AstraZeneca Plc (SE Line) 180,596 7,047,863 2.56

Berkeley Group Holdings Plc 171,288 1,686,873 0.61

BT Group Plc 3,857,411 6,177,668 2.24

Centrica Plc 1,749,917 6,945,565 2.52

Compass Group Plc 1,026,434 6,635,943 2.42

Croda International Plc 71,242 1,117,103 0.41

De La Rue Plc 49,079 417,639 0.15

GlaxoSmithKline Plc 380,481 5,631,558 2.05

Halfords Group Plc 126,897 745,575 0.27

Intercontinental Hotels Group Plc 283,278 3,403,398 1.24

Mondi Plc 538,494 3,007,265 1.09

Next Plc 265,544 6,358,050 2.32

Persimmon Plc 493,626 2,182,109 0.79

Petrofac Ltd 379,800 6,373,705 2.32

Reckitt Benckiser Group Plc 171,524 6,765,138 2.46

Shire Plc 378,350 6,406,926 2.32

Stagecoach Group Plc 1,047,019 2,176,282 0.79

Whitbread Plc 228,756 3,861,195 1.40

77,763,385 28.26




EUR %







regnskapet.




EUR %

18 Invesco Funds


19 Invesco Funds

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET / AN EINER AMTLICHEN BÖRSE

NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE /VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE TITRES

CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS / OMSETTELIGE OG OFFISIELT

BØRSNOTERTE VERDIPAPIRER OG OMSETTELIGE VERDIPAPIRER OMSATT PÅ ANDRE REGULERTE MARKEDER

EQUITIES AKTIEN ACTIONS AKSJERFINLAND FINNLAND FINLANDE FINLANDStora Enso OYJ 1,424,576 8,675,668 1.70

UPM-Kymmene OYJ 1,135,611 12,122,647 2.38

20,798,315 4.08

FRANCE FRANKREICH FRANCE FRANKRIKECie Générale des Etablissements Michelin 166,031 9,619,006 1.89

Rhodia SA 725,972 10,682,678 2.10

Safran SA 558,798 10,633,926 2.08

Sociéte Générale 235,500 9,248,674 1.81

40,184,284 7.88

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDBilfinger Berger AG 218,087 10,105,606 1.98

Daimler AG 281,055 10,546,589 2.06

Deutsche Boerse AG 120,817 5,746,661 1.13

Henkel AG & Co KGaA 188,224 6,925,702 1.36

33,324,558 6.53

GREECE GRIECHENLAND GRECE HELLASPublic Power Corp SA 385,261 4,390,049 0.86

IRELAND IRLAND IRLANDE IRLANDC&C Group Plc 1,200,000 3,672,600 0.72

CRH Plc 450,013 5,403,531 1.06

Kingspan Group Plc 627,536 3,381,164 0.66

12,457,295 2.44

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDASM International NV 294,054 5,068,021 0.99

ASML Holding NV 484,377 9,511,953 1.87

European Aeronautic Defence and Space Co NV 616,288 10,538,524 2.06

ING Groep NV 1,949,676 13,270,470 2.60


Reed Elsevier NV 705,000 6,631,935 1.30

SBM Offshore NV 614,152 7,276,166 1.43

TNT NV 280,965 5,549,059 1.09

67,102,319 13.15

NORWAY NORWEGEN NORVEGE NORGEOrkla ASA 680,000 4,353,880 0.85

Storebrand ASA 2,196,650 8,527,970 1.67

12,881,850 2.52

PORTUGAL PORTUGAL PORTUGAL PORTUGALOGalp Energia SGPS SA 300,000 3,811,500 0.75

SPAIN SPANIEN ESPAGNE SPANIABanco Bilbao Vizcaya Argentaria SA 1,548,489 14,391,657 2.82

Banco Santander SA 1,081,564 9,738,402 1.91

Iberia Lineas Aereas de Espana SA 2,933,700 7,463,333 1.46

Obrascon Huarte Lain SA 759,592 14,777,862 2.90

Telefonica SA 712,872 12,279,220 2.41

58,650,474 11.50

Invesco Pan European Equity Fund



EUR %


20 Invesco Funds

SWEDEN SCHWEDEN SUEDE SVERIGEAssa Abloy AB 507,820 7,921,233 1.55

Husqvarna AB 1,284,576 6,354,212 1.25

Telefonaktiebolaget LM Ericsson 970,000 7,394,689 1.45

21,670,134 4.25

SWITZERLAND SCHWEIZ SUISSE SVEITSNovartis AG 595,253 24,631,304 4.82


UBS AG 1,062,568 13,925,101 2.73


71,946,001 14.10

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAstraZeneca Plc 277,152 10,812,358 2.12Aviva Plc 635,864 2,918,055 0.57BAE Systems Plc 2,335,512 8,360,335 1.64Balfour Beatty Plc 1,308,577 3,769,383 0.74BG Group Plc 941,168 11,994,724 2.34BP Plc 577,921 2,638,961 0.52British American Tobacco Plc 500,974 13,516,169 2.65BT Group Plc 6,564,994 10,513,879 2.06Capita Group Plc 412,202 3,512,659 0.69Centrica Plc 2,124,409 8,431,954 1.65Cobham Plc 1,700,557 4,308,684 0.84G4S Plc 2,896,871 8,795,324 1.72GKN Plc 3,316,296 5,668,234 1.11GlaxoSmithKline Plc 909,798 13,466,061 2.64Imperial Tobacco Group Plc 439,214 9,677,149 1.90Legal & General Group Plc 2,675,459 2,976,706 0.59National Grid Plc 1,101,715 7,350,564 1.44Provident Financial Plc 220,638 2,217,855 0.43Rentokil Initial Plc 5,180,702 5,801,859 1.14Resolution Ltd 799,015 2,445,489 0.48Rolls-Royce Group Plc 513,615 3,414,302 0.67RSA Insurance Group Plc 1,988,618 2,954,879 0.58Smith & Nephew Plc 348,094 2,281,156 0.45UK Coal Plc 1,115,349 539,536 0.11Vectura Group Plc 949,751 572,121 0.11Vodafone Group Plc 6,072,138 11,389,048 2.24William Hill Plc 1,039,027 2,099,609 0.41Yell Group Plc 5,329,729 925,230 0.18

163,352,283 32.02


TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTE / TOTALE OMSETTELIGEBØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 510,569,062 100.08

OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/ AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGEVERDIPAPIRER

BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSUNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIABarclays Bank Plc NTS 28/02/2019 (LAKE ACQ-CVR) 1,102,320 321,952 0.06

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN INSGESAMT TOTAL DES OBLIGATIONS COTÉE TOTAL BONDS321,952 0.06

TOTAL OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES /SUM ANDRE OMSETTELIGE VERDIPAPIRER 321,952 0.06



Bestandteil dieser Finanzausweise./Les notes associées font partie intégrante de ces états financiers./Følgesedlene er en integrert del av dette regnskapet.




EUR %


21 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBELGIUM BELGIEN BELGIQUE BELGIAD’ieteren SA 1,408 515,518 0.60

RealDolmen NV/SA 19,800 273,141 0.32

Telenet Group Holding NV 41,539 972,428 1.13

1,761,087 2.05

BERMUDA BERMUDAS BERMUDES BERMUDADockwise Ltd 124,929 2,165,558 2.52

HAL Trust 4,639 375,411 0.44

Hiscox Ltd 78,428 345,790 0.41

Omega Insurance Holdings Ltd 240,630 259,891 0.30

Seadrill Ltd 25,881 467,706 0.54

Seawell Ltd 82,400 218,756 0.26

3,833,112 4.47

CANADA KANADA CANADA CANADAQuesterre Energy Corp 367,103 661,573 0.77

Western Coal Corp 51,643 143,605 0.17

805,178 0.94

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENECoastal Energy Co 23,144 70,413 0.08

Polarcus Ltd 1,508,000 758,300 0.88

Subsea 7 Inc 63,020 802,674 0.94

805,178 0.94

CYPRUS ZYPERN CHYPRE CYPRUSProSafe SE 49,782 190,530 0.22

Songa Offshore SE 394,397 966,979 1.13

1,157,509 1.35

DENMARK DÄNEMARK DANEMARK DANMARKGN Store Nord 39,140 194,772 0.23

Trigon Agri A/S 2,300,000 1,446,340 1.68

Tryg AS 5,478 231,141 0.27

1,872,253 2.18

FINLAND FINNLAND FINLANDE FINLANDElisa OYJ 15,927 245,037 0.29Tieto OYJ 10,911 142,225 0.17UPM-Kymmene OYJ 43,326 462,505 0.53

849,767 0.99

FRANCE FRANKREICH FRANCE FRANKRIKE1855 4,667,390 466,739 0.54Audika SA 7,859 158,791 0.19Bourbon SA 7,528 227,044 0.26Club Mediterranee 252 3,398 –Eramet 1,886 377,153 0.44Eurofins Scientific 32,743 1,170,644 1.37Ingenico 43,757 837,728 0.98Meetic 21,808 450,553 0.53Neopost SA 19,272 1,057,455 1.24Nexity 17,926 430,717 0.50NextRadioTV 27,442 370,879 0.43Rhodia SA 24,036 353,690 0.41SafeTIC 38,189 207,557 0.24

6,112,348 7.13

Invesco Pan European Small Cap Equity Fund



EUR %


22 Invesco Funds



GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDAareal Bank AG 23,793 345,950 0.40

Asian Bamboo AG 37,092 1,296,086 1.51

Bilfinger Berger AG 9,177 425,239 0.50

Biotest AG 16,055 483,215 0.56

Brenntag AG 23,350 1,398,898 1.63

CTS Eventim AG 25,552 866,660 1.01

Drillisch AG 79,967 401,994 0.47

Gerresheimer AG 32,932 889,082 1.04

H&R WASAG AG 85 1,516 –

Joyou AG 51,008 536,732 0.63

Kabel Deutschland Holding AG 17,619 433,956 0.51

Kinghero AG 23,000 353,050 0.41

Kontron AG 194,972 1,086,287 1.27

KUKA AG 86,277 1,046,324 1.22

Nabaltec AG 162,812 891,396 1.04

Praktiker Bau- und Heimwerkermaerkte Holding AG 28,899 175,691 0.20

Rheinmetall AG 13,112 563,718 0.66

VTG AG 42,757 529,332 0.62

Wirecard AG 270,560 2,507,009 2.93

14,232,135 16.61

GREECE GRIECHENLAND GRECE HELLASFolli-Follie SA 56,016 937,988 1.09

IRELAND IRLAND IRLANDE IRLANDDCC Plc 26,389 513,860 0.60Governor & Co of the Bank of Ireland 121,351 88,404 0.10Irish Continental Group Plc 101,472 1,506,859 1.76

2,109,123 2.46

ITALY ITALIEN ITALIE ITALIAPiaggio & C SpA 230,054 470,748 0.55Safilo Group SpA 35,579 293,349 0.34Sorin SpA 534,512 816,200 0.96Yoox SpA 122,654 791,118 0.92

2,371,415 2.77

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGAcergy SA 56,118 679,710 0.79GlobeOp Financial Services 39,818 112,661 0.13SES SA 40,000 711,501 0.84Transcom WorldWide SA 155,725 363,490 0.42

1,867,362 2.18

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDBrunel International NV 16,359 326,975 0.38Ordina NV 81,765 194,192 0.23Smartrac NV 118,336 2,351,633 2.74Unit 4 Agresso NV 16,261 281,356 0.33

3,154,156 3.68

NORWAY NORWEGEN NORVEGE NORGEAGR Group ASA 701,703 1,209,779 1.40Badger Explorer ASA 300,904 571,407 0.67Copeinca ASA 52,600 264,171 0.31Marine Harvest ASA 281,233 165,416 0.19Petroleum Geo-Services ASA 102,691 718,767 0.84Pronova BioPharma AS 406,369 604,145 0.71Rocksource ASA 1,067,151 202,648 0.24Sevan Marine ASA 426,432 306,731 0.36Telio Holding ASA 129,500 541,986 0.63TGS Nopec Geophysical Co ASA 16,547 176,336 0.21

4,761,386 5.56

PAPUA NEW GUINEA PAPUA-NEUGUINEA PAPOUASIE- PAPUA NEW GUINEANOUVELLE-GUINÉE

New Britain Palm Oil Ltd 54,206 382,603 0.45


EUR %


23 Invesco Funds



PORTUGAL PORTUGAL PORTUGAL PORTUGALBrisa Auto-Estradas de Portugal SA 88,012 431,303 0.50

SWEDEN SCHWEDEN SUEDE SVERIGEByggmax Group AB 79,045 461,264 0.53Medivir AB 7,224 83,059 0.10ORC Software AB 15,122 194,821 0.23

739,144 0.86

SWITZERLAND SCHWEIZ SUISSE SVEITSAcino Holding AG 10,906 775,442 0.91Clariant AG 1,882 18,986 0.02Dufry Group 7,535 557,788 0.65EFG International AG 41,306 343,124 0.40Gategroup Holding AG 14,989 430,132 0.50Lonza Group AG 26,677 1,740,798 2.04Temenos Group AG 15,608 312,197 0.36

4,178,467 4.88

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAbbey Protection Plc 226,194 223,654 0.26Accsys Technologies Plc 1,270,745 368,516 0.43Advanced Medical Solutions Group Plc 336,487 212,934 0.25Afren Plc 103,735 123,400 0.14Alternative Networks Plc 121,021 231,961 0.27Amlin Plc 52,959 262,724 0.31Aveva Group Plc 11,876 202,046 0.24Axis-Shield Plc 24,611 81,053 0.09Babcock International Group Plc 163,884 995,598 1.16Beazley Plc 189,789 256,832 0.30Brewin Dolphin Holdings Plc 95,496 138,730 0.16Britvic Plc 15,069 87,180 0.10BTG Plc 132,376 326,540 0.38Caretech Holdings Plc 28,370 111,343 0.13Carillion Plc 82,995 307,244 0.36Chemring Group Plc 31,713 992,614 1.17Clean Energy Brazil Plc 54,187 53 –CPP Group Plc 68,444 201,569 0.24Cranswick Plc 26,868 274,001 0.32Croda International Plc 50,635 793,977 0.93CVS Group Plc 161,268 155,777 0.18Datacash Group Plc 46,647 202,871 0.24Davis Service Group Plc 37,122 170,741 0.20Dechra Pharmaceuticals Plc 115,440 572,826 0.67Devro Plc 36,812 106,284 0.12Dialog Semiconductor Plc 3,243 28,063 0.03Dignity Plc 46,280 400,298 0.47Domino Printing Sciences Plc 91,944 507,148 0.58E2V Technologies Plc 142,626 110,433 0.13Eaga Plc 209,309 254,464 0.30Education Development International Plc 95,524 109,854 0.13EMIS Group Plc 52,764 204,994 0.24Fenner Plc 257,063 635,520 0.74Fidessa Group Plc 18,441 301,281 0.35Filtrona Plc 92,215 265,403 0.31FLEX LNG Ltd 1,975,093 987,008 1.15Group NBT Plc 39,803 157,424 0.18Gulfsands Petroleum Plc 76,545 275,728 0.32H&T Group Plc 89,521 311,576 0.36Hansard Global Plc 24,793 50,689 0.06Hargreaves Services Plc 17,009 126,472 0.15Hill & Smith Holdings Plc 45,583 147,695 0.17Homeserve Plc 197,645 1,093,181 1.28Hunting Plc 21,400 155,540 0.18James Halstead Plc 30,056 230,433 0.27JD Wetherspoon Plc 61,862 312,688 0.36Jupiter Fund Management Plc 79,590 192,988 0.23Immunodiagnostic Systems Holdings Plc 33,268 299,593 0.35Intec Telecom Systems Plc 153,984 111,966 0.13Laird Plc 80,688 123,478 0.14Latchways Plc 4,164 35,978 0.04Marston’s Plc 169,202 189,180 0.22May Gurney Integrated Services Plc 155,362 345,049 0.40Mears Group Plc 184,246 582,967 0.68


EUR %


24 Invesco Funds



UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Melrose Plc 108,946 327,411 0.38Micro Focus International Plc 88,405 317,536 0.37Microgen Plc 186,610 193,031 0.23Mitie Group Plc 181,809 425,800 0.50Morson Group Plc 122,558 148,401 0.17Mouchel Group Plc 223,622 306,154 0.36N Brown Group Plc 119,397 329,904 0.39Northgate Plc 49,941 111,447 0.13Pace Plc 140,692 353,559 0.42PayPoint Plc 75,822 275,892 0.32Phoenix IT Group Ltd 126,614 311,440 0.36Playtech Ltd 38,801 195,545 0.23Premier Oil Plc 32,961 606,291 0.71PZ Cussons Plc 38,749 152,926 0.18RM Plc 243,191 388,806 0.45Rotork Plc 12,577 239,992 0.28RPS Group Plc 34,917 72,173 0.08RWS Holdings Plc 110,401 345,958 0.40Salamander Energy Plc 76,806 202,734 0.24SDL Plc 36,831 246,294 0.29Serco Group Plc 127,455 898,454 1.05Spectris Plc 25,678 275,459 0.32Spirax-Sarco Engineering Plc 16,710 321,195 0.37Staffline Group Plc 90,214 98,807 0.12Synergy Health Plc 170,541 1,395,186 1.64Tetragon Financial Group Ltd 924,904 3,041,271 3.54Ultra Electronics Holdings Plc 14,366 288,028 0.34United Business Media Ltd 13,920 94,059 0.11Valiant Petroleum Plc 38,125 312,479 0.36Victrex Plc 12,558 163,904 0.19Xchanging Plc 260,555 420,927 0.49YouGov Plc 172,045 82,701 0.10

28,891,323 33.72

UNITED STATES VEREINIGTE STAATEN ETATS-UNIS USAVON AMERIKA

KKR & Co LP 165,717 1,305,434 1.52



OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/ AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGE

EQUITIES AKTIEN ACTIONS AKSJERCYPRUS ZYPERN CHYPRE CYPRUSRemedial (Cyprus) Plc 220,000 – –

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAHomebuy Group 155,656 – –

Invesco Cont Small 4,250,000 – –

TOTAL EQUITIES AKTIEN INSGESAMT TOTAL ACTIONS SUM EGENKAPITAL- -

OPTIONS OPTIONEN OPTIONS OPSJONERGERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDDax Mid-Cap Index Put Option Eur 7,450 17/09/2010 210 46,515 0.05

TOTAL OPTIONS OPTIONEN INSGESAMT TOTAL OPTIONS SAMLEDE OPSJONER46,515 0.05

TOTAL OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/OMSETTELIGE VERDIPAPIRER 46,515 0.05

Total Gesamtanlagen Total Sum investeringerInvestments investissements 84,501,282 98.59




EUR %


25 Invesco Funds

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIEREVALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS TITRES CESSIBLES NÉGOCIÉS SURD’AUTRES MARCHÉS RÉGLEMENTÉSOMSETTELIGE OG OFFISIELT BØRSNOTERTE VERDIPAPIRER OG OMSETTELIGE VERDIPAPIRER OMSATT PÅ ANDRE REGULERTE MARKEDER

EQUITIES AKTIEN ACTIONS AKSJERAUSTRIA ÖSTERREICH AUTRICHE ØSTERRIKEAndritz AG 8,956 426,395 0.58

BELGIUM BELGIEN BELGIQUE BELGIAAnheuser-Busch InBev NV 31,616 1,273,809 1.75

BERMUDA BERMUDAS BERMUDES BERMUDALancashire Holdings Ltd 119,494 767,445 1.05


DENMARK DÄNEMARK DANEMARK DANMARKNovo Nordisk A/S 19,665 1,314,294 1.80

FRANCE FRANKREICH FRANCE FRANKRIKEAXA SA 30,488 368,752 0.51BNP Paribas 18,247 885,756 1.20Cie Générale des Etablissements Michelin 6,116 354,330 0.49Danone 17,027 716,241 0.98Total SA 18,129 662,615 0.91

2,987,694 4.09

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDBayer AG 24,257 1,161,001 1.59Bayerische Motoren Werke AG 24,331 991,975 1.36Deutsche Boerse AG 13,588 646,313 0.89Fresenius Medical Care AG & Co KGaA 16,145 721,682 0.99Puma AG Rudolf Dassler Sport 5,949 1,248,099 1.71SAP AG 16,141 556,179 0.76Wirecard AG 95,155 881,706 1.21

6,206,955 8.51

GREECE GRIECHENLAND GRECE HELLASIntralot SA-Integrated Lottery Systems & Services 253,557 787,295 1.08JUMBO SA 81,612 401,939 0.55

1,189,234 1.63

IRELAND IRLAND IRLANDE IRLANDDCC Plc 46,453 904,556 1.24Paddy Power Plc 47,511 1,302,514 1.79

2,207,070 3.03

ITALY ITALIEN ITALIE ITALIAAnsaldo STS SpA 30,964 284,172 0.39Finmeccanica SpA 63,202 497,242 0.68UniCredit SpA 358,460 654,369 0.90

1,435,783 1.97

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGOriflame Cosmetics SA 10,083 412,087 0.56

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDAalberts Industries NV 90,926 1,008,143 1.39Koninklijke Ahold NV 87,759 846,041 1.16Koninklijke KPN NV 61,518 695,922 0.95TNT NV 42,459 838,565 1.15Unilever NV 25,170 528,255 0.72

3,916,926 5.37

NORWAY NORWEGEN NORVEGE NORGEPetroleum Geo-Services ASA 53,789 376,486 0.52TGS Nopec Geophysical Co ASA 102,765 1,095,136 1.50

1,471,622 2.02

Invesco European Growth Equity Fund



EUR %


26 Invesco Funds

RUSSIA RUSSIA RUSIA RÚSSIAGazprom OAO ADR 45,194 725,395 1.00VimpelCom Ltd ADR 50,635 593,723 0.81

1,319,118 1.81

SPAIN SPANIEN ESPAGNE SPANIAProsegur Cia de Seguridad SA 11,998 479,860 0.66

SWEDEN SCHWEDEN SUEDE SVERIGEIntrum Justitia AB 92,253 736,220 1.01Kinnevik Investment AB 45,987 655,080 0.90

1,391,300 1.91

SWITZERLAND SCHWEIZ SUISSE SVEITSAryzta AG 51,242 1,720,578 2.36Dufry Group 16,741 1,239,273 1.70Julius Baer Group Ltd 21,347 583,898 0.80Nestle SA 39,603 1,605,013 2.20Novartis AG 21,268 880,060 1.21Roche Holding AG (Gebusscheine) 16,188 1,729,642 2.36Syngenta AG 3,984 721,294 0.99

8,479,758 11.62

TURKEY TÜRKEI TURQUIE TYRKIAHaci Omer Sabanci Holding AS 435,743 1,533,373 2.10Tupras Turkiye Petrol Rafine 71,800 1,254,060 1.72

2,787,433 3.82

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAmlin Plc 257,469 1,277,277 1.75Babcock International Group Plc 84,498 513,327 0.70Balfour Beatty Plc 244,291 703,685 0.96BG Group Plc 59,858 762,861 1.05British American Tobacco Plc 36,667 989,268 1.36Bunzl Plc 83,572 722,091 0.99Centrica Plc 277,479 1,101,337 1.51Chemring Group Plc 28,222 883,347 1.21Compass Group Plc 209,850 1,356,690 1.86Homeserve Plc 304,880 1,686,302 2.30IG Group Holdings Plc 227,991 1,435,129 1.97Imperial Tobacco Group Plc 66,300 1,460,779 2.00Informa Plc 295,118 1,358,820 1.86International Power Plc 297,667 1,340,310 1.84Kingfisher Plc 164,269 403,313 0.55Mitie Group Plc 423,708 992,333 1.36Next Plc 25,011 598,851 0.82Reckitt Benckiser Group Plc 34,752 1,370,666 1.88Reed Elsevier Plc 130,718 829,986 1.14Royal Dutch Shell Plc 27,618 555,821 0.76Shire Plc 101,940 1,726,238 2.37Tesco Plc 237,844 1,167,401 1.60Ultra Electronics Holdings Plc 62,302 1,249,108 1.71United Business Media Ltd 76,519 517,048 0.71Vodafone Group Plc 559,256 1,048,953 1.43William Hill Plc 204,963 414,178 0.57WPP Plc 99,220 773,075 1.06

27,238,194 37.32






regnskapet.




EUR %


27 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBASIC MATERIALS ROHSTOFFE MATERIAUX DE BASE GRUNNMATERIALERFiltrona Plc 7,430 21,384 0.52

Lonza Group AG 260 16,966 0.41

UPM-Kymmene OYJ 3,543 37,822 0.92

76,172 1.85

COMMUNICATIONS KOMMUNIKATION COMMUNICATIONS KOMMUNIKASJONBT Group Plc 26,880 43,048 1.04

Deutsche Telekom AG 6,551 67,263 1.64

Eutelsat Communications 1,864 52,318 1.26

Koninklijke KPN NV 7,026 79,482 1.92

Reed Elsevier NV 3,845 36,170 0.88

Telecom Italia SpA 34,890 29,883 0.72

Telefonaktiebolaget LM Ericsson 5,073 38,673 0.94

Telefonica SA 4,799 82,663 2.00

Telekom Austria AG 4,050 40,854 0.99

Vivendi SA 2,789 51,046 1.24

Vodafone Group Plc 62,519 117,263 2.84

Yell Group Plc 102,172 17,737 0.43

656,400 15.90

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICALS KONSUMGÜTER CYCLIQUES FORBRUKERVARERCarnival Plc 885 22,423 0.54


Daimler AG 1,071 40,189 0.97

Galiform Plc 13,335 10,293 0.25

Inditex SA 897 46,442 1.12

155,848 3.77

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERAstraZeneca Plc 2,337 91,172 2.21

Atlantia SpA 1,914 27,935 0.68

British American Tobacco Plc 2,838 76,569 1.85

BTG Plc 8,083 19,939 0.48

Bunzl Plc 2,092 18,076 0.44

Capita Group Plc 3,683 31,385 0.76

Carrefour SA 1,402 50,125 1.21

G4S Plc 19,656 59,678 1.45

GlaxoSmithKline Plc 6,594 97,600 2.36

Husqvarna AB 5,541 27,409 0.66

Imperial Tobacco Group Plc 3,286 72,400 1.75

Koninklijke Ahold NV 6,788 65,440 1.58

Nestle SA 2,425 98,279 2.38

Novartis AG 3,665 151,657 3.67

Premier Foods Plc 41,239 8,092 0.20

Reckitt Benckiser Group Plc 499 19,681 0.48

Rentokil Initial Plc 43,156 48,330 1.17

Reynolds American Inc 984 42,633 1.03


Sanofi-Aventis SA 873 39,523 0.96

Smith & Nephew Plc 2,163 14,175 0.34

Tesco Plc 5,423 26,618 0.64

Unilever NV 1,455 30,537 0.74

WM Morrison Supermarkets Plc 4,068 14,220 0.34

1,281,593 31.02

Invesco Pan European Equity Income Fund



EUR %


28 Invesco Funds

DIVERSIFIED DIVERSIFIZIERT ENTREPRISES DIVERSIFISERTDIVERSIFIÉES

Drax Group Plc 4,230 20,295 0.49

ENERGY ENERGIE ENERGIE ENERGIAltona Energy Plc 141,523 13,778 0.33BG Group Plc 4,363 55,605 1.35Galp Energia SGPS SA 3,958 50,286 1.22Repsol YPF SA 3,973 70,799 1.71Royal Dutch Shell Plc 2,572 53,729 1.30Sterling Energy Plc 12,181 17,825 0.43

262,022 6.34

FINANCIAL FINANZWESEN FINANCE FINANS Ageas 32,577 63,655 1.54Allianz SE 792 63,617 1.54Amlin Plc 3,378 16,758 0.41Banco Bilbao Vizcaya Argentaria SA 4,604 42,790 1.04Banque Cantonale Vaudoise 147 54,936 1.33Burford Capital Ltd 10,846 14,057 0.34Catlin Group Ltd 7,473 29,675 0.72Credit Suisse Group AG 1,044 35,712 0.86ING Groep NV 8,473 57,671 1.40Provident Financial Plc 4,485 45,083 1.09UBS AG 4,334 56,798 1.38Unibail-Rodamco SE 255 37,128 0.90Zurich Financial Services AG 384 66,548 1.61

584,428 14.16

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRIBAE Systems Plc 18,626 66,674 1.62Bilfinger Berger AG 885 41,009 0.99Chemring Group Plc 1,258 39,375 0.95Cobham Plc 17,139 43,425 1.05CRH Plc 2,892 34,726 0.84European Aeronautic Defence and Space Co NV 2,410 41,211 1.00Irish Continental Group Plc 1,745 25,913 0.63Koninklijke Philips Electronics NV 1,981 43,211 1.05Obrascon Huarte Lain SA 1,549 30,136 0.73Oesterreichische Post AG 2,641 53,236 1.29Rolls-Royce Group Plc 4,150 27,588 0.67Safran SA 2,116 40,267 0.98Thales SA 1,613 40,571 0.98TNT NV 3,659 72,264 1.75

599,606 14.53

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIASML Holding NV 2,003 39,334 0.95Sage Group Plc 10,988 32,487 0.79

71,821 1.74

UTILITIES VERSORGUNG SERVICES PUBLICS BASISTJENESTERCentrica Plc 12,916 51,265 1.24EDP - Energias de Portugal SA 9,990 23,981 0.58Enagas 1,486 20,392 0.49Gas Natural SDG SA 2,627 30,762 0.75GDF Suez 2,465 60,448 1.46National Grid Plc 5,657 37,743 0.91Pennon Group Plc 3,617 25,200 0.61Red Electrica Corp SA 1,472 47,887 1.17Terna Rete Elettrica Nazionale SpA 10,250 32,403 0.78United Utilities Group Plc 2,156 14,824 0.36

344,905 8.35






EUR %


29 Invesco Funds




EUR %

OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGEVERDIPAPIRERBONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSFINANCIAL FINANZWESEN FINANCE FINANS Barclays Bank Plc NTS 28/02/2019 (LAKE ACQ-CVR) 17,697 5,169 0.13

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN TOTAL DES OBLIGATIONS TOTAL BONDSINSGESAMT COTÉE 5,169 0.13

TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES /SUM ANDRE OMSETTELIGE VERDIPAPIRER 5,169 0.13

OPEN-ENDED OFFENE FONDS À CAPITAL OPEN-END FONDFUNDS INVESTMENTFONDS VARIABLEInvesco Perpetual Fixed Interest Investment Series - European High Yield Fund 94,812 41,191 1.00

TOTAL OPEN- OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-END FONDENDED FUNDS INSGESAMT CAPITAL VARIABLE 41,191 1.00

Total Gesamtanlagen Total Sum investeringerInvestments investissements 4,099,450 99.28




30 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBELGIUM BELGIEN BELGIQUE BELGIADelhaize Group SA 156 8,227 0.17

D’ieteren SA 245 89,703 1.88

KBC Groep NV 402 12,904 0.27

110,834 2.32

DENMARK DÄNEMARK DANEMARK DANMARKDanisco A/S 891 50,005 1.05

Danske Bank A/S 310 5,350 0.11

Novo Nordisk A/S 1,250 83,543 1.75

138,898 2.91

FINLAND FINNLAND FINLANDE FINLANDFortum OYJ 5,309 96,172 2.01

Metso OYJ 2,151 60,992 1.28

UPM-Kymmene OYJ 3,627 38,718 0.81

195,882 4.10

FRANCE FRANKREICH FRANCE FRANKRIKEBNP Paribas 1,390 67,474 1.41

Bouygues SA 1,039 32,954 0.69

France Telecom SA 4,115 65,439 1.37

Legrand SA 3,802 89,652 1.87

Rhodia SA 2,272 33,432 0.70

Sanofi-Aventis SA 2,759 124,907 2.61

Total SA 3,565 130,301 2.73

Valeo SA 3,217 88,540 1.85

Vallourec SA 1,234 81,216 1.70

713,915 14.93

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDAllianz SE 764 61,369 1.28

Aurubis AG 2,548 79,287 1.66

BASF SE 1,777 73,275 1.53

Deutsche Bank AG 1,082 52,956 1.11

Deutsche Lufthansa AG 5,953 73,832 1.55

Fuchs Petrolub AG 183 13,888 0.29

Hannover Rueckversicherung AG 1,439 49,976 1.05

Kloeckner & Co SE 5,490 83,667 1.74

Muenchener Rueckversicherungs AG 320 31,958 0.67

Rheinmetall AG 1,742 74,893 1.57

RWE AG 1,623 83,325 1.74

678,426 14.19

ITALY ITALIEN ITALIE ITALIAEnel SpA 8,628 31,934 0.67

ENI SpA 7,102 110,614 2.31

Intesa Sanpaolo SpA 5,702 9,984 0.21

Mediaset SpA 17,687 85,937 1.80

Terna Rete Elettrica Nazionale SpA 29,294 92,605 1.94

UniCredit SpA 4,425 8,078 0.17

339,152 7.10

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGTenaris SA 2,332 30,841 0.65

Invesco Pan European 130/30 Equity Fund



EUR %


31 Invesco Funds



NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDKoninklijke Ahold NV 5,308 51,172 1.07

Koninklijke DSM NV 166 5,443 0.11

Koninklijke Philips Electronics NV 742 16,185 0.34

STMicroelectronics NV 13,472 70,640 1.48

TNT NV 4,408 87,058 1.82

230,498 4.82

NORWAY NORWEGEN NORVEGE NORGEDnB NOR ASA 3,364 28,715 0.60

Statoil ASA 3,582 52,425 1.10

81,140 1.70

SPAIN SPANIEN ESPAGNE SPANIABanco Bilbao Vizcaya Argentaria SA 5,459 50,736 1.06

Banco Santander SA 10,093 90,877 1.90

Tecnicas Reunidas SA 1,299 50,934 1.07

192,547 4.03

SWEDEN SCHWEDEN SUEDE SVERIGEAlfa Laval AB 7,810 87,987 1.85

Castellum AB 836 6,734 0.14

Svenska Handelsbanken AB 1,484 30,218 0.63

Tele2 AB 3,991 56,086 1.17

181,025 3.79

SWITZERLAND SCHWEIZ SUISSE SVEITSBanque Cantonale Vaudoise 62 23,170 0.48

Clariant AG 9,060 91,400 1.91

Credit Suisse Group AG 1,532 52,406 1.10

GAM Holding AG 825 8,131 0.17

Nestle SA 5,402 218,930 4.59

Novartis AG 4,275 176,898 3.70

Roche Holding AG 743 83,675 1.75


Schindler Holding AG 1,183 91,444 1.91

UBS AG 1,377 18,046 0.38

Zurich Financial Services AG 420 72,788 1.52

968,951 20.27

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAggreko Plc 2,585 44,576 0.93AstraZeneca Plc 133 5,189 0.11Atkins WS Plc 2,207 18,492 0.39BHP Billiton Plc 2,066 44,715 0.94IG Group Holdings Plc 935 5,886 0.12Mondi Plc 14,262 79,647 1.66Petrofac Ltd 5,491 92,149 1.93Rio Tinto Plc 2,952 115,012 2.40Schroders Plc 670 11,080 0.24Stagecoach Group Plc 14,382 29,894 0.63Whitbread Plc 4,861 82,049 1.72

528,689 11.07






regnskapet.


EUR %


32 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERCYPRUS ZYPERN CHYPRE CYPRUSGlobaltrans Investment Plc GDR 55,700 759,470 2.35

CZECH REPUBLIC TSCHECHISCHE REPUBLIK RÉPUBLIQUE TCHÈQUE CZECH REPUBLICCEZ AS 13,750 577,511 1.79

Philip Morris CR AS 540 243,709 0.75

821,220 2.54

GEORGIA GEORGIEN GÉORGIE GEORGIABank of Georgia JSC GDR 51,123 629,069 1.95

HUNGARY UNGARN HONGRIE UNGARNMOL Hungarian Oil and Gas Plc 3,800 341,740 1.06

OTP Bank Plc 30,600 614,724 1.90

956,464 2.96

KAZAKHSTAN KAZAKHSTAN KAZAKHSTAN KAZAKHSTANKazMunaiGas Exploration Production GDR 22,300 395,268 1.22

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDX5 Retail Group NV GDR 22,600 791,339 2.45

POLAND POLEN POLOGNE POLENBank Pekao SA 10,000 483,675 1.49

Eurocash SA 76,500 539,464 1.67

KGHM Polska Miedz SA 27,000 894,112 2.77

Powszechna Kasa Oszczednosci Bank Polski SA 38,000 450,743 1.40

2,367,994 7.33

RUSSIA RUSSIA RUSIA RÚSSIACherkizovo Group OJSC GDR 46,900 740,551 2.29

Federal Hydrogenerating Co ADR 141,800 733,815 2.27

Gazprom OAO ADR 131,800 2,682,788 8.31

LSR Group GDR 98,800 782,990 2.42

Lukoil OAO ADR 49,500 2,630,925 8.15

Magnit OJSC GDR 24,200 490,171 1.52

Magnitogorsk Iron & Steel Works GDR 56,800 618,552 1.92

MMC Norilsk Nickel ADR 149,600 2,534,223 7.85

Mobile Telesystems OJSC ADR 72,490 1,496,919 4.63

NovaTek OAO GDR 20,880 1,521,108 4.71

Pharmstandard GDR 33,300 779,720 2.41

Polymetal OOO GDR 50,950 606,305 1.88

Rosneft Oil Co GDR 297,200 1,864,930 5.77

Sberbank of Russian Federation GDR 7,310 1,997,755 6.19

Surgutneftegas OJSC ADR 132,500 1,203,763 3.73

Tatneft ADR 47,000 1,360,885 4.21

VimpelCom Ltd ADR 42,800 636,436 1.97

22,681,836 70.23

TURKEY TÜRKEI TURQUIE TYRKIATAV Havalimanlari Holding AS 75,300 328,655 1.01

Turk Hava Yollari 117,371 364,541 1.13

Turk Traktor ve Ziraat Makineleri AS 25,000 280,347 0.87

Turkiye Sinai Kalkinma Bankasi AS 322,099 451,761 1.40

1,425,304 4.41

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAKazakhmys Plc 19,580 337,080 1.04

Invesco Emerging Europe Equity Fund



USD %


33 Invesco Funds

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USACentral European Distribution Corp 20,080 457,924 1.42






regnskapet.




USD %


34 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBASIC MATERIALS ROHSTOFFE MATERIAUX DE BASE GRUNNMATERIALERToda Kogyo Corp 116,000 74,588,000 1.89

COMMUNICATIONS KOMMUNIKATION COMMUNICATIONS KOMMUNIKASJONCyberAgent Inc 1,614 217,163,700 5.50

Gree Inc 24,400 151,036,000 3.83

Mixi Inc 49 22,135,750 0.56

Rakuten Inc 4,094 259,764,300 6.58

650,099,750 16.47

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICALS KONSUMGÜTER CYCLIQUES FORBRUKERVARERAmiyaki Tei Co Ltd 350 82,425,000 2.09

Cosmos Pharmaceutical Corp 35,900 85,549,700 2.17

Koito Manufacturing Co Ltd 36,000 41,724,000 1.06

Nifco Inc 73,500 137,151,000 3.47

Nishimatsuya Chain Co Ltd 60,900 44,487,450 1.13

Pal Co Ltd 20,550 69,150,750 1.75

TS Tech Co Ltd 65,600 79,605,600 2.02

Unipres Corp 106,200 138,219,300 3.49

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERDaiseki Co Ltd 25,600 39,078,400 0.99

Dr Ci:Labo Co Ltd 307 81,846,200 2.07

Fuji Pharma Co Ltd 18,700 31,359,900 0.79

JCR Pharmaceuticals Co Ltd 22,000 20,823,000 0.53

Medinet Co Ltd 1,330 39,620,700 1.00

Nihon M&A Center Inc 254 61,734,700 1.56

OncoTherapy Science Inc 435 68,860,500 1.74

Pigeon Corp 3,800 11,751,500 0.30

Sysmex Corp 27,400 145,494,000 3.70

Tsumura & Co 36,000 94,104,000 2.38

594,672,900 15.06

FINANCIAL FINANZWESEN FINANCE FINANS GCA Savvian Group Corp 447 34,262,550 0.87

Intellex Co Ltd 200 11,880,000 0.30

Tosei Corp 1,610 44,001,300 1.11

90,143,850 2.28

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRIAnritsu Corp 156,000 78,546,000 1.99

CKD Corp 127,300 63,586,350 1.61

Dai-ichi Seiko Co Ltd 31,700 105,561,000 2.68

Fujitsu General Ltd 218,000 91,342,000 2.31

GS Yuasa Corp 117,000 57,856,500 1.47

Harmonic Drive Systems Inc 182 61,061,000 1.55

Juki Corp 566,000 73,580,000 1.86

Meiko Electronics Co 59,500 81,544,750 2.07

Micronics Japan Co Ltd 22,400 19,745,600 0.50

Nippon Ceramic Co Ltd 20,300 25,831,750 0.65

NPC Inc 59,100 99,140,250 2.51

Okano Valve Manufacturing Co 64,000 45,632,000 1.16

Osaki Electric Co Ltd 125,000 79,062,500 2.00

Sekisui Plastics Co Ltd 192,000 71,520,000 1.81

Takasago Thermal Engineering Co Ltd 90,500 57,512,750 1.46

Tamron Co Ltd 15,600 23,618,400 0.60

Invesco Nippon Small/Mid Cap Equity Fund



JPY %


35 Invesco Funds

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRI(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Teikoku Electric Manufacturing Co Ltd 40,100 63,718,900 1.61

Torishima Pump Manufacturing Co Ltd 76,600 94,945,700 2.41

Toshiba Plant Systems & Services Corp 4,000 3,846,000 0.10

Toyo Tanso Co Ltd 4,900 19,906,250 0.50

1,217,557,700 30.85

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIMegachips Corp 79,200 119,037,600 3.01

Melco Holdings Inc 43,900 111,176,750 2.82

OBIC Business Consultants Ltd 26,600 114,247,000 2.89

Simplex Technology Inc 1,851 102,175,200 2.59

V Technology Co Ltd 128 46,432,000 1.18

493,068,550 12.49

TOTAL EQUITIES AKTIEN INSGESAMT TOTAL ACTIONS SUM EGENKAPITAL3,798,443,550 96.22

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTE / TOTALE OMSETTELIGEBØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 3,798,443,550 96.22

Total Gesamtanlagen Total des Sum Investments investissements investeringer 3,798,443,550 96.22



regnskapet.




JPY %


36 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBASIC MATERIALS ROHSTOFFE MATERIAUX DE BASE GRUNNMATERIALERDenki Kagaku Kogyo KK 465,000 157,402,500 1.91

Mitsubishi Materials Corp 378,000 83,727,000 1.02

OJI Paper Co Ltd 304,000 120,688,000 1.47

Taiyo Nippon Sanso Corp 151,000 100,264,000 1.22

462,081,500 5.62

COMMUNICATIONS KOMMUNIKATION COMMUNICATIONS KOMMUNIKASJONNippon Television Network Corp 14,960 166,579,600 2.03

SBI Holdings Inc 20,200 210,181,000 2.55

376,760,600 4.58

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICAL KONSUMGÜTER CYCLIQUES FORBRUKERVARERDenso Corp 57,300 130,357,500 1.59

FamilyMart Co Ltd 64,700 196,364,500 2.39

Fast Retailing Co Ltd 7,000 81,165,000 0.99

Haseko Corp 2,147,000 151,363,500 1.84

Honda Motor Co Ltd 67,300 186,757,500 2.27

Isetan Mitsukoshi Holdings Ltd 202,200 178,845,900 2.18

ITOCHU Corp 184,500 126,382,500 1.54


Kuraray Co Ltd 87,800 83,410,000 1.01

Mitsubishi Corp 137,100 246,642,900 3.00

NHK Spring Co Ltd 162,000 112,914,000 1.37

Nissan Motor Co Ltd 386,400 247,875,600 3.02

Pioneer Corp 620,000 154,070,000 1.87

Sekisui Chemical Co Ltd 126,000 61,992,000 0.75

Takata Corp 62,700 112,828,650 1.37

2,163,689,550 26.32

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERKirin Holdings Co Ltd 115,000 133,515,000 1.62

Unicharm Corp 33,000 338,250,000 4.12

471,765,000 5.74

FINANCIAL FINANZWESEN FINANCE FINANS Aeon Credit Service Co Ltd 99,000 87,763,500 1.07

Mitsubishi UFJ Financial Group Inc 560,900 224,640,450 2.73

ORIX Corp 12,500 79,000,000 0.96

Sumitomo Mitsui Financial Group Inc 125,900 314,561,150 3.83

Sumitomo Realty & Development Co Ltd 157,000 251,592,500 3.06

Tokio Marine Holdings Inc 130,000 292,435,000 3.56

1,249,992,600 15.21

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRIAsahi Glass Co Ltd 48,000 39,360,000 0.48

Fanuc Ltd 27,700 250,131,000 3.04

FUJIFILM Holdings Corp 116,600 296,980,200 3.62

Hitachi Ltd 792,000 269,676,000 3.28

JGC Corp 93,000 119,737,500 1.46

JS Group Corp 127,100 203,868,400 2.48

Komatsu Ltd 53,000 90,285,500 1.10

Kubota Corp 121,000 81,493,500 0.99

Mitsui OSK Lines Ltd 361,000 190,247,000 2.31

Nabtesco Corp 120,000 151,320,000 1.84

Nidec Corp 34,100 250,976,000 3.05

Rinnai Corp 23,000 115,230,000 1.40

SMC Corp 8,400 86,982,000 1.06

Invesco Nippon Select Equity Fund



JPY %


37 Invesco Funds

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRI(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Toshiba Corp 681,000 268,314,000 3.26

2,414,601,100 29.37

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGICCapcom Co Ltd 16,000 19,576,000 0.24

Elpida Memory Inc 146,600 147,626,200 1.80

Fujitsu Ltd 277,000 160,937,000 1.96

Itochu Techno-Solutions Corp 37,900 103,789,150 1.26

NTT Data Corp 950 249,422,500 3.03

Obic Co Ltd 10,000 157,850,000 1.92

Otsuka Corp 25,900 142,968,000 1.74

Tokyo Electron Ltd 25,100 98,831,250 1.20

1,081,000,100 13.15


TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTE /TOTALE OMSETTELIGEBØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 8,219,890,450 99.99

Total Gesamtanlagen Total des Sum Investments investissements investeringer 8,219,890,450 99.99



regnskapet.




JPY %


38 Invesco Funds

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKET / AN EINER AMTLICHEN BÖRSENOTIERTE ODER AUF

ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE/ VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES

MARCHÉS RÉGLEMENTÉS TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS / OMSETTELIGE OG OFFISIELT BØRSNOTERTE VERDIPAPIRER OG OMSETTELIGE

VERDIPAPIRER OMSATT PÅ ANDRE REGULERTE MARKEDER

EQUITIES AKTIEN ACTIONS AKSJERBERMUDA BERMUDAS BERMUDES BERMUDACOSCO Pacific Ltd 660,000 867,770 0.69GOME Electrical Appliances Holdings Ltd 2,563,000 779,049 0.63

1,646,819 1.32

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEBelle International Holdings Ltd 575,000 1,005,799 0.80China Resources Land Ltd 414,000 790,686 0.64Haitian International Holdings Ltd 1,101,000 875,917 0.70Ju Teng International Holdings Ltd 1,230,000 765,055 0.61Kingboard Chemical Holdings Ltd 189,500 893,232 0.72Lifestyle International Holdings Ltd 383,500 828,056 0.67Tencent Holdings Ltd 94,400 1,729,515 1.39Vinda International Holdings Ltd 860,000 883,142 0.71

7,771,402 6.24

CHINA CHINA CHINE KINABank of China Ltd 5,174,000 2,596,765 2.09China Construction Bank Corp 4,041,000 3,336,929 2.67China Life Insurance Co Ltd 651,000 2,482,886 1.99China Minsheng Banking Corp Ltd 1,237,000 1,120,046 0.90China Petroleum & Chemical Corp 1,776,000 1,402,652 1.13Dongfang Electric Corp Ltd 273,800 1,004,673 0.81Guangzhou Automobile Group Co Ltd 823,857 967,265 0.78Lianhua Supermarket Holdings Co Ltd 212,000 820,139 0.66Weichai Power Co Ltd 81,000 673,557 0.54

14,404,912 11.57

HONG KONG HONG KONG HONG KONG HONG KONGBank of East Asia Ltd 421,600 1,587,645 1.28Cheung Kong Holdings Ltd 149,000 1,880,541 1.51China Mobile Ltd 281,000 2,854,013 2.29Citic Pacific Ltd 446,000 911,990 0.73CNOOC Ltd 848,000 1,457,177 1.17Hong Kong & China Gas Co Ltd 735,000 1,776,893 1.43Hutchison Whampoa Ltd 169,000 1,248,391 1.00Industrial & Commercial Bank of China Asia Ltd 178,000 658,295 0.53Lenovo Group Ltd 1,432,000 819,008 0.66MTR Corp 293,500 1,045,839 0.84Sino Land Co Ltd 660,000 1,148,544 0.92Sun Hung Kai Properties Ltd 119,000 1,666,323 1.34Swire Pacific Ltd 97,500 1,171,973 0.94Wharf Holdings Ltd 323,000 1,742,522 1.40

19,969,154 16.04

INDIA INDIEN INDE INDIABajaj Auto Ltd 31,820 1,829,269 1.47ICICI Bank Ltd 117,461 2,407,819 1.94Infosys Technologies Ltd 40,369 2,303,705 1.85Larsen & Toubro Ltd 31,849 1,224,262 0.98Oil & Natural Gas Corp Ltd 34,230 972,359 0.78

8,737,414 7.02

INDONESIA INDONESIEN INDONÉSIE INDONESIAAstra International Tbk PT 420,500 2,214,199 1.78Bank Mandiri Tbk PT 3,324,000 2,161,428 1.74Bank Negara Indonesia Persero Tbk PT 577,000 219,528 0.18Bank Tabungan Negara Tbk PT 3,442,500 687,738 0.55Semen Gresik Persero Tbk PT 705,500 677,389 0.54

5,960,282 4.79

MALAYSIA MALAYSIA MALAISIE MALAYSIAAxiata Group Bhd 1,098,800 1,563,389 1.26CIMB Group Holdings Bhd 904,100 2,248,621 1.81Gamuda Bhd 1,330,700 1,465,059 1.18Genting Bhd 943,200 2,826,764 2.26Lafarge Malayan Cement Bhd 335,000 776,079 0.62

8,879,912 7.13

Invesco Asia Opportunities Equity Fund



USD %


39 Invesco Funds



MAURITIUS MAURITIUS MAURICE MAURITIUSGolden Agri-Resources Ltd 2,593,000 1,065,879 0.86

SINGAPORE SINGAPUR SINGAPOUR SINGAPOREKeppel Corp Ltd 218,000 1,421,722 1.15Overseas Union Enterprise Ltd 479,000 951,820 0.76United Overseas Bank Ltd 85,102 1,174,643 0.94

3,548,185 2.85

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREAAmorepacific Corp 1,173 1,076,726 0.86Cheil Industries Inc 25,330 2,213,127 1.78Hyundai Heavy Industries Co Ltd 8,151 1,796,565 1.44Hyundai Home Shopping Network Corp 7,669 575,703 0.46Hyundai Mipo Dockyard 7,645 1,021,863 0.82Hyundai Mobis 11,382 2,057,759 1.65KCC Corp 4,289 1,066,973 0.86LG Chem Ltd 6,499 1,871,532 1.49Mando Corp 7,952 893,763 0.72OCI Co Ltd 5,167 1,600,007 1.29POSCO 2,322 941,757 0.76Samsung Electronics Co Ltd 4,502 2,836,985 2.28Samsung Engineering Co Ltd 9,554 1,049,912 0.84Samsung SDI Co Ltd 9,366 1,314,396 1.06Shinhan Financial Group Co Ltd 26,184 1,001,911 0.80

21,318,979 17.11

TAIWAN TAIWAN TAIWAN TAIWANCheng Shin Rubber Industry Co Ltd 386,250 784,341 0.63Chroma ATE Inc 652,000 1,499,027 1.20Fubon Financial Holding Co Ltd 391,629 456,314 0.37Hon Hai Precision Industry Co Ltd 669,556 2,361,860 1.90Largan Precision Co Ltd 91,000 1,641,944 1.32Motech Industries Inc 237,000 921,100 0.74Nan Ya Plastics Corp 728,000 1,402,186 1.13Pegatron Corp 1,495,000 1,872,601 1.50Powertech Technology Inc 558,000 1,653,063 1.33Taiwan Semiconductor Manufacturing Co Ltd 1,207,000 2,217,393 1.78Tong Yang Industry Co Ltd 1,034,000 1,631,664 1.31TXC Corp 915,927 1,541,128 1.24Unimicron Technology Corp 788,000 1,248,393 1.00Wistron Corp 367,621 573,225 0.46Yuanta Financial Holding Co Ltd 1,646,000 933,885 0.75

20,738,124 16.66

THAILAND THAILAND THAILANDE THAILANDMinor International PCL 1,731,100 666,872 0.54Pruksa Real Estate PCL 930,200 715,194 0.57Tisco Financial Group PCL 640,016 693,112 0.56

2,075,178 1.67

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAPunjab National Bank Ltd 1 25 –


TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 116,116,265 93.26

OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/ AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGE VERDIPAPIRERSTRUCTURED PRODUCTS STRUKTURIERTE PRODUKTE PRODUITS STRUCTURÉS STRUKTURERTE PRODUKTERUNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USACiti - Invesco China Opportunity II Fund P/N 20/01/2015 484,054 6,302,383 5.06

TOTAL STRUCTURED PRODUCTS STRUKTURIERTE TOTAL PRODUITS SAMLEDE 6,302,383 5.06PRODUKTE INSGESAMT STRUCTURÉS STRUKTURERTE PRODUKTER

TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES /SUM ANDRE OMSETTELIGE VERDIPAPIRER 6,302,383 5.06


The accompanying notes form an integral part of these financial statements./Die in diesem Dokument enthaltenen Erläuterungen sind wichtigerBestandteil dieser Finanzausweise./Les notes associées font partie intégrante de ces états financiers./Følgesedlene er en integrert del av dette regnskapet.


USD %


40 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBERMUDA BERMUDAS BERMUDES BERMUDAGOME Electrical Appliances Holdings Ltd 48,647,200 14,786,796 2.99

Yue Yuen Industrial Holdings Ltd 2,578,000 8,424,206 1.70

23,211,002 4.69

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEAsia Cement China Holdings Corp 18,889,500 8,035,882 1.62

China High Speed Transmission Equipment Group Co Ltd 5,109,000 11,359,707 2.29

China Resources Land Ltd 5,108,000 9,755,618 1.97

Haitian International Holdings Ltd 11,178,000 8,892,827 1.80

Ju Teng International Holdings Ltd 4,612,000 2,418,436 0.49

Lifestyle International Holdings Ltd 600,000 1,295,525 0.26

Minth Group Ltd 6,606,000 10,672,322 2.15

Stella International Holdings Ltd 2,390,000 4,447,865 0.90

Uni-President China Holdings Ltd 22,238,000 13,218,816 2.67

Vinda International Holdings Ltd 17,895,000 18,376,532 3.71

WuXi PharmaTech Cayman Inc ADR 600,050 8,910,743 1.80

Xinyi Glass Holdings Co Ltd 19,676,000 10,102,729 2.04

Yingde Gases 2,635,000 2,468,842 0.50

109,955,844 22.20

CHINA CHINA CHINE KINAChina Construction Bank Corp 18,072,000 14,923,286 3.02

China Life Insurance Co Ltd 2,979,000 11,361,779 2.29

China National Materials Co Ltd 12,297,000 9,419,558 1.90

China Oilfield Services Ltd 4,002,000 5,099,821 1.03

China Shenhua Energy Co Ltd 2,032,000 7,390,865 1.49

Chongqing Changan Automobile Co Ltd 6,851,579 5,596,176 1.13

Chongqing Machinery & Electric Co Ltd 16,100,000 4,076,404 0.82

Datang International Power Generation Co Ltd 6,104,000 2,412,374 0.49

Guangzhou Automobile Group Co Ltd 4,300,000 5,048,497 1.02

Huadian Energy Co Ltd 2 1 –

Industrial & Commercial Bank of China 18,447,000 13,383,657 2.70

PetroChina Co Ltd 8,078,000 8,746,994 1.77

Ping An Insurance Group Co of China Ltd 670,000 5,541,259 1.12

Shanghai Jinjiang International Hotels Development Co Ltd 5,036,382 8,549,259 1.72

Weifu High-Technology Co Ltd 1 1 –

Wuxi Little Swan Co Ltd 3,011,403 3,911,022 0.79

ZTE Corp 1,505,000 5,556,248 1.12

111,017,201 22.41

HONG KONG HONG KONG HONG KONG HONG KONGBOC Hong Kong Holdings Ltd 1,458,000 3,827,407 0.77

Cheung Kong Holdings Ltd 608,000 7,673,618 1.55

China Mobile Ltd 2,036,500 20,683,976 4.18

China Resources Enterprise Ltd 1,302,000 5,400,853 1.09

Dah Chong Hong Holdings Ltd 16,300,000 13,041,034 2.64

Franshion Properties China Ltd 17,808,000 5,092,491 1.03

Hang Seng Bank Ltd 155,000 2,132,571 0.43

Lenovo Group Ltd 10,588,000 6,055,626 1.22

Shanghai Industrial Holdings Ltd 1,103,000 5,369,245 1.08

Sun Hung Kai Properties Ltd 225,000 3,150,612 0.64

Swire Pacific Ltd 298,000 3,582,029 0.72

Tianjin Development Holdings 4,000,000 2,678,446 0.54

78,687,908 15.89

Invesco Greater China Equity Fund



USD %


41 Invesco Funds



TAIWAN TAIWAN TAIWAN TAIWANCatcher Technology Co Ltd 3,152,000 6,971,321 1.41

Chinatrust Financial Holding Co Ltd 16,428,160 9,192,574 1.86

Compal Electronics Inc 11,270,056 12,612,589 2.55

E.Sun Financial Holding Co Ltd 8,110,206 3,620,403 0.73

Everlight Electronics Co Ltd 2,520,000 6,482,116 1.31

Far Eastern New Century Corp 6,119,404 7,139,690 1.44

Hon Hai Precision Industry Co Ltd 6,237,532 22,002,917 4.45

Hotai Motor Co Ltd 3,481,000 9,546,294 1.93

Largan Precision Co Ltd 584,000 10,537,309 2.13

MediaTek Inc 940,273 12,804,966 2.58

President Chain Store Corp 4,276,264 15,785,367 3.18

Simplo Technology Co Ltd 1,408,000 6,889,683 1.39

SinoPac Financial Holdings Co Ltd 13,623,000 4,794,886 0.97

Taishin Financial Holding Co Ltd 26,712,150 10,902,839 2.20

Taiwan Glass Industrial Corp 3,347,500 3,242,063 0.65

Taiwan Semiconductor Manufacturing Co Ltd 5,209,872 9,571,115 1.93

Tong Yang Industry Co Ltd 1,500,000 2,367,017 0.48

WPG Holdings Co Ltd 3,986,954 7,399,155 1.49

Yuanta Financial Holding Co Ltd 9,250,000 5,248,137 1.06

167,110,441 33.74


WARRANTS OPTIONSSCHEINE WARRANTS WARRANTSUNITED STATES VEREINIGTE STAATEN ETATS-UNIS USA

VON AMERIKAPing An Insurance Group WTS 17/01/2012 459,500 3,141,921 0.63

TOTAL WARRANTS OPTIONSSCHEINE TOTAL WARRANTS SUM WARRANTSINSGESAMT 3,141,921 0.63


Total Gesamtanlagen Total des Sum investeringerInvestments investissements 493,124,317 99.56



regnskapet.


USD %


42 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAAdelaide Brighton Ltd 4,000,000 11,663,002 0.45

ASX Ltd 493,000 12,787,951 0.49

BHP Billiton Ltd 2,595,200 85,593,239 3.27

Leighton Holdings Ltd 2,306,785 63,132,068 2.41

Macquarie Group Ltd 990,073 33,015,362 1.26

Map Group 8,552,727 22,500,964 0.86

Qantas Airways Ltd 4,200,000 9,404,297 0.36

Rio Tinto Ltd 1,298,875 81,040,197 3.09

Telstra Corp Ltd 5,100,000 12,509,237 0.48

Woodside Petroleum Ltd 816,910 30,462,937 1.16

WorleyParsons Ltd 1,476,445 27,328,186 1.04

389,437,440 14.87

BERMUDA BERMUDAS BERMUDES BERMUDACOSCO Pacific Ltd 11,600,000 15,251,717 0.58

Kunlun Energy Co Ltd 23,916,000 29,585,191 1.13

Nine Dragons Paper Holdings Ltd 10,604,000 14,569,093 0.56

Orient Overseas International Ltd 1,670,000 13,355,695 0.51

72,761,696 2.78

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEChina High Speed Transmission Equipment Group Co Ltd 16,927,000 37,636,671 1.43

China Zhongwang Holdings Ltd 24,000,000 14,204,501 0.54

Longfor Properties Co Ltd 16,337,000 18,214,904 0.70

Sany Heavy Equipment International Holdings Co Ltd 24,292,000 32,126,525 1.23

102,182,601 3.90

CHINA CHINA CHINE KINABeijing Capital International Airport Co Ltd 22,222,000 10,724,528 0.41

China Construction Bank Corp 18,750,000 15,483,157 0.59

China National Building Material Co Ltd 5,400,000 9,820,538 0.37

China Petroleum & Chemical Corp 36,200,000 28,590,093 1.10

China Railway Group Ltd 16,996,000 12,352,772 0.47


China Shipping Container Lines Co Ltd 43,000,000 14,838,768 0.57

China Southern Airlines Co Ltd 22,000,000 10,391,186 0.40

CSR Corp Ltd 25,458,000 21,398,687 0.81

Dongfang Electric Corp Ltd 5,280,000 19,374,261 0.74

Harbin Power Equipment Co Ltd 8,264,000 7,918,138 0.30

Jiangsu Expressway Co Ltd 24,782,000 24,158,893 0.92


Weichai Power Co Ltd 2,200,000 18,294,143 0.70

Zhejiang Expressway Co Ltd 13,554,000 12,046,053 0.46

248,720,651 9.49

HONG KONG HONG KONG HONG KONG HONG KONGBeijing Enterprises Holdings Ltd 3,286,000 23,143,723 0.88

Cathay Pacific Airways Ltd 5,500,000 13,543,886 0.52

China Mobile Ltd 6,911,000 70,192,465 2.68

Citic Pacific Ltd 14,750,000 30,161,109 1.15

CNOOC Ltd 16,600,000 28,524,931 1.09

Guangdong Investment Ltd 33,212,000 16,113,767 0.62

Hong Kong & China Gas Co Ltd 6,590,000 15,931,597 0.61

Hong Kong Exchanges and Clearing Ltd 1,660,000 26,018,065 1.00

Hutchison Whampoa Ltd 4,130,000 30,508,027 1.15

MTR Corp 10,060,036 35,847,279 1.37


Sun Hung Kai Properties Ltd 1,000,000 14,002,718 0.53

Invesco Asia Infrastructure Fund



USD %


43 Invesco Funds

HONG KONG HONG KONG HONG KONG HONG KONG(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Swire Pacific Ltd 1,050,000 12,621,243 0.48

331,212,379 12.64

INDIA INDIEN INDE INDIABharat Heavy Electricals Ltd 1,082,600 55,196,366 2.11

Crompton Greaves Ltd 1,781,817 11,166,883 0.43

GVK Power & Infrastructure Ltd 15,500,000 14,880,721 0.57

India Cements Ltd 2,900,000 6,569,757 0.25

Infrastructure Development Finance Co Ltd 3,200,000 12,025,074 0.46

Jindal Steel & Power Ltd 1,200,000 17,312,715 0.66

Larsen & Toubro Ltd 1,904,000 73,188,965 2.79

Oil & Natural Gas Corp Ltd 454,804 12,919,456 0.49

Reliance Industries Ltd 2,111,000 41,244,232 1.58

Sterlite Industries India Ltd 1,984,000 6,361,405 0.24

Tata Power Co Ltd 672,000 17,511,554 0.67

268,377,128 10.25

INDONESIA INDONESIEN INDONÉSIE INDONESIAAstra International Tbk PT 5,000,000 26,328,166 1.01

Bank Mandiri Tbk PT 34,000,000 22,108,466 0.84

Bank Negara Indonesia Persero Tbk PT 10,240,500 3,896,150 0.15

Indocement Tunggal Prakarsa Tbk PT 16,828,500 32,967,839 1.26

Perusahaan Gas Negara PT 73,800,000 32,570,833 1.24

Semen Gresik Persero Tbk PT 9,979,500 9,581,866 0.37

United Tractors Tbk PT 35,271,666 71,734,014 2.73

199,187,334 7.60

MALAYSIA MALAYSIA MALAISIE MALAYSIAGamuda Bhd 36,920,000 40,647,765 1.56

Genting Bhd 3,500,000 10,489,475 0.40

Lafarge Malayan Cement Bhd 7,590,000 17,583,410 0.67

Puncak Niaga Holding Bhd 945,000 865,758 0.03

YTL Power International Bhd 9,800,000 7,042,057 0.27

76,628,465 2.93

PAKISTAN PAKISTAN PAKISTAN PAKISTANOil & Gas Development Co Ltd 7,500,000 12,627,997 0.48

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEMetro Pacific Investments Corp 126,601,000 9,391,806 0.36

Philippine Long Distance Telephone 151,410 8,147,966 0.31

17,539,772 0.67

SINGAPORE SINGAPUR SINGAPOUR SINGAPORECapitaLand Ltd 6,000,000 17,187,102 0.66

Hyflux Ltd 3,000,000 6,658,067 0.25

Keppel Corp Ltd 3,708,000 24,182,319 0.92

SembCorp Industries Ltd 7,767,000 24,310,359 0.94

Singapore Exchange Ltd 3,864,000 21,438,974 0.81

Singapore Technologies Engineering Ltd 3,579,000 8,484,047 0.32

SMRT Corp Ltd 11,400,000 17,273,369 0.66

119,534,237 4.56

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREACheil Industries Inc 280,000 24,464,091 0.93

Doosan Corp 88,000 8,789,724 0.34

Hyundai Heavy Industries Co Ltd 195,000 42,980,021 1.64

Hyundai Mipo Dockyard 70,000 9,356,493 0.36

Hyundai Mobis 100,500 18,169,467 0.69

KCC Corp 126,400 31,444,489 1.20

Korea Electric Power Corp 528,000 12,848,777 0.49

LG Chem Ltd 361,000 103,957,999 3.98

POSCO 80,150 32,507,245 1.24




USD %


44 Invesco Funds

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Samsung Electronics Co Ltd 58,300 36,738,384 1.40

Samsung Engineering Co Ltd 270,000 29,670,947 1.13

SK Energy Co Ltd 153,000 16,303,069 0.62

367,230,706 14.02

TAIWAN TAIWAN TAIWAN TAIWANAsia Cement Corp 12,363,367 11,105,577 0.42

BES Engineering Corp 47,600,000 11,196,421 0.43

Cheng Shin Rubber Industry Co Ltd 1,825,000 3,705,947 0.14

China Steel Corp 8,780,500 8,298,363 0.32

Chunghwa Telecom Co Ltd 8,463,870 17,292,894 0.66

CTCI Corp 3,100,000 3,403,963 0.13



MediaTek Inc 1,138,271 15,501,372 0.59

Taiwan Cement Corp 25,827,000 23,703,382 0.90

Taiwan Fertilizer Co Ltd 3,586,000 10,948,085 0.41

Taiwan Mobile Co Ltd 6,700,000 13,187,088 0.50


226,609,458 8.65

THAILAND THAILAND THAILANDE THAILANDAdvanced Info Service PCL 3,000,000 8,907,444 0.34

Kasikornbank PCL 1,900,000 6,605,655 0.25

Pruksa Real Estate PCL 13,023,200 10,013,037 0.38

Quality Houses PCL 40,000,000 3,056,264 0.12

Siam Cement PCL 2,000,000 18,574,159 0.71

Siam Commercial Bank PCL 4,909,400 14,969,110 0.57

Thai Airways International PCL 4,628,900 5,993,298 0.23

UNITED ARAB EMIRATES VEREINIGTE ARABISCHE ÉMIRATES ARABES UNIS FOREND ARAB EMIRATEREMIRATE

DP World Ltd 17,666,667 8,559,500 0.33


TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTE/ TOTALE OMSETTELIGEBØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 2,508,728,331 95.77

OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS FONDS A CAPITAL VARIABLE OPEN-END FONDUNITED STATES VEREINIGTE STAATEN ETATS-UNIS USA

VON AMERIKACitigroup Global Marketing Holdings Invesco China ID Fund P/N 25/02/2011 13,561,807 93,305,232 3.56

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-END FONDINSGESAMT CAPITAL VARIABLE 93,305,232 3.56

Total Gesamtanlagen Total des Sum investeringerInvestments investissements 2,602,033,563 99.33



regnskapet.




USD %


45 Invesco Funds



VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES MARCHÉS RÉGLEMENTÉS TITRES CESSIBLES NÉGOCIÉS SUR D’AUTRES

MARCHÉS RÉGLEMENTÉS / OMSETTELIGE OG OFFISIELT BØRSNOTERTE VERDIPAPIRER OG OMSETTELIGE VERDIPAPIRER OMSATT PÅ ANDRE REGULERTE MARKEDER

EQUITIES AKTIEN ACTIONS AKSJERBASIC MATERIALS ROHSTOFFE MATERIAUX DE BASE GRUNNMATERIALERAsian Paints Ltd 35,000 2,050,369 1.54

Jindal Steel & Power Ltd 200,000 2,885,452 2.17

JSW Steel Ltd 85,000 2,029,893 1.52

Sterlite Industries India Ltd 660,000 2,116,193 1.59

9,081,907 6.82

COMMUNICATIONS KOMMUNIKATION COMMUNICATIONS KOMMUNIKASJONZee Entertainment Enterprises Ltd 360,000 2,162,256 1.62

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICAL KONSUMGÜTER CYCLIQUES FORBRUKERVARERBajaj Auto Ltd 125,000 7,186,003 5.40

Hero Honda Motors Ltd 30,000 1,122,442 0.84

Mahindra & Mahindra Ltd 235,000 3,097,499 2.32

Pantaloon Retail India Ltd 320,000 3,094,081 2.32

Sobha Developers Ltd 80,000 549,612 0.41

Tata Motors Ltd 275,000 5,824,207 4.38

20,873,844 15.67

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERDr Reddy’s Laboratories Ltd 105,000 3,044,006 2.28

Godrej Consumer Products Ltd 200,000 1,591,435 1.19

ITC Ltd 1,440,000 4,926,234 3.71

Lupin Ltd 600,000 4,500,796 3.38

Nestle India Ltd 24,999 1,631,934 1.22

15,694,405 11.78

DIVERSIFIED DIVERSIFIZIERT ENTREPRISES DIVERSIFISERTDIVERSIFIÉES

Sintex Industries Ltd 300,000 2,241,632 1.68

ENERGY ENERGIE ENERGIE ENERGIBharat Petroleum Corp Ltd 60,000 954,160 0.72


Reliance Industries Ltd 130,000 2,539,910 1.91

8,607,266 6.46

FINANCIAL FINANZWESEN FINANCE FINANS Axis Bank Ltd 200,000 5,585,377 4.19

Bank Of Baroda 230,000 3,912,272 2.94

Federal Bank Ltd 200,000 1,444,267 1.08

HDFC Bank Ltd 125,000 5,658,338 4.25

Housing Development Finance Corp 225,000 2,959,953 2.22

ICICI Bank Ltd 380,000 7,789,575 5.85

ING Vysya Bank Ltd 300,000 2,126,553 1.60

Jammu & Kashmir Bank Ltd 125,000 2,041,826 1.53

State Bank of India 55,000 3,215,959 2.41

34,734,120 26.07

INDUSTRIAL INDUSTRIE INDUSTRIES INDUSTRIBharat Heavy Electricals Ltd 25,000 1,274,625 0.96

Crompton Greaves Ltd 425,000 2,663,531 2.00

Grasim Industries Ltd 40,593 1,740,698 1.31

Larsen & Toubro Ltd 125,000 4,804,948 3.60

Titan Industries Ltd 40,000 2,503,580 1.88

12,987,382 9.75

Invesco India Equity Fund



USD %


46 Invesco Funds



TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIInfosys Technologies Ltd 165,000 9,415,921 7.06

Rolta India Ltd 140,000 480,873 0.36

Tata Consultancy Services Ltd 305,000 5,417,305 4.07

Wipro Ltd 355,000 2,996,620 2.25

18,310,719 13.74

UTILITIES VERSORGUNG SERVICES PUBLICS BASISTJENESTERGAIL India Ltd 345,000 3,342,038 2.51


TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 128,035,569 96.10




regnskapet.


USD %


47 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAASX Ltd 201,000 5,213,749 0.84

Australia & New Zealand Banking Group Ltd 490,000 9,857,061 1.58

Foster’s Group Ltd 1,180,000 6,366,396 1.02

JB Hi-Fi Ltd 400,000 7,416,244 1.19

Myer Holdings Ltd 2,434,000 7,985,408 1.28


Westpac Banking Corp 290,000 5,609,147 0.90

51,628,391 8.29

BERMUDA BERMUDAS BERMUDES BERMUDAGOME Electrical Appliances Holdings Ltd 49,000,000 14,894,033 2.39

Haier Electronics Group Co Ltd 9,600,000 6,027,274 0.97

20,921,307 3.36

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEBaWang International Group Holding Ltd 7,630,000 3,495,982 0.56

Belle International Holdings Ltd 4,900,000 8,571,154 1.37


Ctrip.com International Ltd ADR 236,000 9,783,380 1.57

Hengan International Group Co Ltd 670,000 5,905,079 0.95

Lifestyle International Holdings Ltd 3,000,000 6,477,623 1.04


Minth Group Ltd 4,190,000 6,769,154 1.09

New World Department Store China Ltd 7,200,000 6,227,771 1.00

Tencent Holdings Ltd 560,000 10,259,834 1.65


Zhongsheng Group Holdings Ltd 5,200,000 9,129,335 1.46

88,185,746 14.16

CHINA CHINA CHINE KINABank of China Ltd 21,500,000 10,790,575 1.73


Dongfeng Motor Group Co Ltd 4,200,000 6,510,010 1.05




Sinopharm Group Co 2,000,000 7,595,784 1.22

Wumart Stores Inc 2,700,000 5,593,890 0.90

69,098,973 11.10

HONG KONG HONG KONG HONG KONG HONG KONGCathay Pacific Airways Ltd 2,950,000 7,264,448 1.17China Mobile Ltd 600,000 6,093,978 0.98China Resources Enterprise Ltd 2,300,000 9,540,676 1.53Dah Chong Hong Holdings Ltd 5,000,000 4,000,318 0.64Wharf Holdings Ltd 1,650,000 8,901,429 1.43

35,800,849 5.75

INDIA INDIEN INDE INDIADr Reddy’s Laboratories Ltd 223,000 6,464,889 1.04

ICICI Bank Ltd 500,000 10,249,440 1.65

ITC Ltd 2,680,000 9,168,270 1.46

Lupin Ltd 835,000 6,263,607 1.01




Tata Motors Ltd 360,000 7,624,416 1.22


Invesco Asia Consumer Demand Fund



USD %


48 Invesco Funds

INDIA INDIEN INDE INDIA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Zee Entertainment Enterprises Ltd 980,000 5,886,142 0.95

72,996,605 11.72

INDONESIA INDONESIEN INDONÉSIE INDONESIAAstra International Tbk PT 1,540,000 8,109,075 1.30Bank Danamon Indonesia Tbk PT 10,100,000 5,924,737 0.95Bank Negara Indonesia Persero Tbk PT 11,870,000 4,516,118 0.73Bank Tabungan Negara Tbk PT 42,000,000 8,390,702 1.34Indofood Sukses Makmur Tbk PT 18,490,000 9,260,348 1.49Lippo Karawaci Tbk PT 56,000,000 3,083,564 0.50XL Axiata Tbk PT 13,000,000 7,140,287 1.15

46,424,831 7.46

MALAYSIA MALAYSIA MALAISIE MALAYSIAGenting Bhd 1,300,000 3,896,091 0.63Masterskill Education Group Bhd 4,150,000 5,276,524 0.84

9,172,615 1.47

MAURITIUS MAURITIUS MAURICE MAURITIUSGolden Agri-Resources Ltd 14,179,000 5,828,420 0.94

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEAlliance Global Group Inc 45,407,000 6,366,589 1.02SM Investments Corp 420,000 4,365,740 0.70

10,732,329 1.72

SINGAPORE SINGAPUR SINGAPOUR SINGAPORECapitaMalls Asia Ltd 2,900,000 4,501,015 0.72CDL Hospitality Trusts 4,300,000 6,356,869 1.03Overseas Union Enterprise Ltd 3,650,000 7,252,905 1.16SATS Ltd 2,657,000 5,436,444 0.87Singapore Airlines Ltd 560,000 6,272,002 1.01Wilmar International Ltd 1,480,000 6,749,348 1.08Yanlord Land Group Ltd 4,200,000 5,434,840 0.88

42,003,423 6.75

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREAAmorepacific Corp 7,510 6,893,615 1.11CJ CheilJedang Corp 21,441 3,974,695 0.64Hyundai Home Shopping Network Corp 25,565 1,919,134 0.31Hyundai Mobis 64,000 11,570,606 1.86Hyundai Motor Co 80,000 9,425,306 1.51KB Financial Group Inc 189,000 7,657,581 1.23LG Electronics Inc 87,000 6,991,784 1.12Samsung Electronics Co Ltd 13,700 8,633,205 1.39Samsung Fire & Marine Insurance Co Ltd 40,000 6,380,849 1.02Shinhan Financial Group Co Ltd 198,000 7,576,320 1.22

71,023,095 11.41

TAIWAN TAIWAN TAIWAN TAIWANCathay Financial Holding Co Ltd 4,231,500 6,092,840 0.97Cathay Real Estate Development Co Ltd 10,600,000 4,889,026 0.79Chimei Innolux Corp 6,200,000 6,411,160 1.03Chinatrust Financial Holding Co Ltd 16,569,949 9,271,912 1.48D-Link Corp 8,550,000 6,946,178 1.12Hon Hai Precision Industry Co Ltd 2,498,608 8,813,849 1.42President Chain Store Corp 1,940,000 7,161,301 1.15Uni-President Enterprises Corp 5,758,132 6,655,270 1.07

56,241,536 9.03

THAILAND THAILAND THAILANDE THAILANDKasikornbank PCL 2,700,000 9,386,984 1.51Pruksa Real Estate PCL 5,581,400 4,291,323 0.69Tisco Financial Group PCL 6,445,000 6,979,676 1.12

20,657,983 3.32





USD %


WARRANTS OPTIONSSCHEINE WARRANTS WARRANTSLUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGWuliangye Yibin Co Ltd WTS 20/01/2015 1,420,467 6,625,157 1.06

TOTAL WARRANTS OPTIONSSCHEINE TOTAL WARRANTS SUM 6,625,157 1.06INSGESAMT WARRANTS

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 607,341,260 97.54

OPEN-ENDED FUNDS OFFENE FONDS À CAPITAL OPEN-END FONDINVESTMENTFONDS VARIABLE

HONG KONG HONG KONG HONG KONG HONG KONGiShares FTSE ETF 3,900,000 5,949,773 0.96W.I.S.E. - CSI China Tracker Fund 1,190,000 4,867,439 0.78

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-INSGESAMT CAPITAL VARIABLE END FOND 10,817,212 1.74




regnskapet.




USD %

49 Invesco Funds


50 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAWoolworths Ltd 26,745 661,476 1.99

BERMUDA BERMUDAS BERMUDES BERMUDAOrient-Express Hotels Ltd 34,815 302,194 0.91

Regal Hotels International Holdings Ltd 621,382 239,987 0.72

542,181 1.63

MEXICO MEXIKO MEXIQUE MEXICOGrupo Televisa SA ADR 32,526 605,146 1.82

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDHeineken NV 7,431 330,044 0.99

PANAMA PANAMA PANAMA PANAMACarnival Corp 10,354 319,421 0.96

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAbercrombie & Fitch Co 14,943 523,902 1.58

Amazon.com Inc 5,174 640,101 1.92

American Eagle Outfitters Inc 36,636 477,733 1.44

Brinker International Inc 34,074 548,080 1.65

Buffalo Wild Wings Inc 7,413 313,162 0.94

Carter’s Inc 8,742 197,963 0.60

Choice Hotels International Inc 9,407 310,384 0.93

Coach Inc 9,119 326,050 0.98

Comcast Corp 46,935 798,130 2.40

Costco Wholesale Corp 8,407 471,423 1.42

Darden Restaurants Inc 18,634 771,354 2.32

DIRECTV 21,276 804,339 2.42

Discovery Communications Inc 21,348 805,780 2.42

Gap Inc 11,219 189,489 0.57

Google Inc 741 335,336 1.01

GSI Commerce Inc 13,780 306,881 0.92

Hanesbrands Inc 14,609 349,666 1.05


Home Depot Inc 35,903 1,004,566 3.02

Hyatt Hotels Corp 9,905 361,830 1.09

International Game Technology 44,560 660,825 1.99


J Crew Group Inc 10,139 306,705 0.92

Jack in the Box Inc 16,746 339,190 1.02

Knot Inc 35,634 252,111 0.76

Kohl’s Corp 21,492 1,000,130 3.01

Lamar Advertising Co 21,038 546,252 1.64

Lowe’s Cos Inc 48,779 997,774 3.00

Macy’s Inc 18,897 362,444 1.09

Marriott International Inc 35,918 1,137,343 3.41

McDonald’s Corp 14,905 1,084,562 3.25

MGM Resorts International 14,684 132,964 0.40

National CineMedia Inc 19,815 315,158 0.95

NIKE Inc 14,071 989,965 2.98

Nordstrom Inc 10,615 304,916 0.92

Omnicom Group Inc 28,527 1,001,726 3.02

OpenTable Inc 3,540 187,195 0.56

Penn National Gaming Inc 18,488 522,194 1.57

PepsiCo Inc 5,283 335,999 1.01

PF Chang’s China Bistro Inc 8,810 383,499 1.15

Polo Ralph Lauren Corp 4,280 322,840 0.97

Scripps Networks Interactive Inc 23,875 964,431 2.90

Invesco Global Leisure Fund



USD %


51 Invesco Funds

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Staples Inc 33,868 597,601 1.80

Starbucks Corp 29,058 680,684 2.05

Target Corp 25,997 1,319,999 3.96

Tiffany & Co 5,988 238,382 0.72

Time Warner Cable Inc 9,698 502,308 1.51

Time Warner Inc 23,966 708,914 2.13

TJX Cos Inc 8,060 325,664 0.98

Urban Outfitters Inc 7,334 225,117 0.68

Viacom Inc ’A’ 11,312 403,838 1.21

Viacom Inc ’B’ 15,975 501,695 1.51

Walt Disney Co 48,729 1,575,652 4.75

WMS Industries Inc 17,137 622,502 1.87

30,706,316 92.34


TOTAL TRANSFERABLE SECURITIES ADMITTED AN TO OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 33,164,584 99.73




regnskapet.




USD %


52 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERCANADA KANADA CANADA CANADACanadian Natural Resources Ltd 97,513 3,181,206 1.11

Niko Resources Ltd 31,797 3,123,384 1.09

Suncor Energy Inc 112,321 3,484,197 1.21

Talisman Energy Inc 181,993 2,892,779 1.01

Ultra Petroleum Corp 91,068 3,569,410 1.23

16,250,976 5.65

FRANCE FRANKREICH FRANCE FRANKRIKETotal SA ADR 127,484 5,896,772 2.05

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDCore Laboratories NV 41,481 3,292,554 1.15

SWITZERLAND SCHWEIZ SUISSE SVEITSTransocean Ltd 62,518 3,274,693 1.14

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIABG Group Plc 169,611 2,741,288 0.95

BP Plc ADR 34,969 1,232,657 0.43

Esco Plc ADR 130,640 5,426,133 1.89

Royal Dutch Shell Plc 166,904 4,416,260 1.54

Tullow Oil Plc 196,651 3,623,688 1.26

16,250,976 5.65

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAnadarko Petroleum Corp 264,003 12,243,139 4.26Apache Corp 138,105 12,364,541 4.30Arch Coal Inc 205,924 4,522,091 1.57Baker Hughes Inc 286,931 10,940,679 3.81Cabot Oil & Gas Corp 86,413 2,436,415 0.85Cameron International Corp 269,523 10,022,213 3.49Chevron Corp 169,541 12,511,278 4.35Comstock Resources Inc 49,480 1,081,138 0.38Concho Resources Inc 24,784 1,453,706 0.51ConocoPhillips 165,883 8,737,887 3.04Continental Resources Inc 61,515 2,509,812 0.87Dresser-Rand Group Inc 114,245 4,077,975 1.42Dril-Quip Inc 45,439 2,389,183 0.83EOG Resources Inc 88,550 7,752,553 2.70Exxon Mobil Corp 253,574 14,957,062 5.20Fluor Corp 47,419 2,129,350 0.74FMC Technologies Inc 93,016 5,779,549 2.01Halliburton Co 627,523 17,878,130 6.21Helmerich & Payne Inc 250,634 9,482,737 3.30Key Energy Services Inc 161,935 1,305,196 0.45Murphy Oil Corp 28,945 1,576,345 0.55National Oilwell Varco Inc 215,865 8,127,317 2.83Newfield Exploration Co 119,105 5,771,233 2.01Occidental Petroleum Corp 201,572 14,871,982 5.17Oceaneering International Inc 60,614 3,052,218 1.06Peabody Energy Corp 139,576 5,849,630 2.03Pride International Inc 120,678 2,831,106 0.98Rowan Cos Inc 55,636 1,433,183 0.50Schlumberger Ltd 290,207 15,711,807 5.47Southwestern Energy Co 212,394 7,047,233 2.45Valero Energy Corp 172,790 2,768,960 0.96Weatherford International Ltd 353,036 5,350,261 1.86XTO Energy

218,965,909 76.16

Invesco Energy Fund



USD %


53 Invesco Funds






regnskapet.

Invesco Energy Fund



USD %


54 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIACFS Retail Property Trust 43,046 74,349 2.41

Goodman Group 185,655 104,546 3.39

ING Office Fund 97,744 52,431 1.70

Mirvac Group 47,164 56,372 1.83

Stockland 40,387 141,490 4.58

Westfield Group 25,994 289,976 9.39

719,164 23.30

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEAgile Property Holdings Ltd 42,000 48,826 1.58

China Resources Land Ltd 14,000 26,738 0.87

KWG Property Holding Ltd 13,000 8,830 0.29

Longfor Properties Co Ltd 19,500 21,741 0.70

Renhe Commercial Holdings Co Ltd 134,000 26,608 0.86

Shimao Property Holdings Ltd 6,500 10,543 0.34

143,286 4.64

HONG KONG HONG KONG HONG KONG HONG KONGChina Overseas Land & Investment Ltd 62,400 133,050 4.31

Hang Lung Properties Ltd 28,000 125,234 4.06

Henderson Land Development Co Ltd 5,000 30,428 0.99

Hongkong Land Holdings Ltd 26,000 138,970 4.50

Hysan Development Co Ltd 7,000 22,222 0.72

Kerry Properties Ltd 13,000 65,496 2.12

Link REIT 25,500 74,806 2.42

New World Development Ltd 20,000 32,080 1.04

Sino Land Co Ltd 24,000 41,765 1.35

Sun Hung Kai Properties Ltd 20,000 280,055 9.08

Wharf Holdings Ltd 22,000 118,686 3.84

1,062,792 34.43

JAPAN JAPAN JAPON JAPANAdvance Residence Investment Corp 8 12,395 0.40

Aeon Mall Co Ltd 1,000 22,807 0.74

Japan Prime Realty Investment Corp 15 33,197 1.08

Japan Real Estate Investment Corp 5 44,186 1.43

Japan Retail Fund Investment Corp 26 34,596 1.12

Kenedix Realty Investment Corp 6 20,885 0.68

Mitsubishi Estate Co Ltd 15,000 224,394 7.26

Mitsui Fudosan Co Ltd 11,000 177,466 5.74

Nippon Building Fund Inc 2 16,856 0.55

NTT Urban Development Corp 34 26,399 0.86

Sumitomo Realty & Development Co Ltd 5,000 94,980 3.08

708,161 22.94

SINGAPORE SINGAPUR SINGAPOUR SINGAPORECapitaCommercial Trust 32,000 32,678 1.06CapitaLand Ltd 40,000 114,580 3.71CapitaMall Trust 64,530 92,067 2.98CapitaMalls Asia Ltd 9,000 13,969 0.45City Developments Ltd 2,000 16,177 0.52Keppel Land Ltd 18,000 50,500 1.64Suntec Real Estate Investment Trust 47,000 49,036 1.59

369,007 11.95


Invesco Asia Pacific Real Estate Securities Fund



USD %



OTHER SECURITIES SONSTIGE WERTPAPIERE AUTRES TITRES ANDRE VERDIPAPIRER

EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIABGP Holdings 214,552 – –


TOTAL OTHER SECURITIES SONSTIGE WERTPAPIERE TOTAL AUTRES TITRES TOTALT ANDRE VERDIPAPIRERINSGESAMT - -




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USD %

55 Invesco Funds


56 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIACFS Retail Property Trust 41,886 72,345 0.73

Goodman Group 175,000 98,546 0.99

ING Office Fund 70,988 38,079 0.38

Mirvac Group 36,802 43,987 0.44

Stockland 37,993 133,103 1.34


. 685,786 6.91

AUSTRIA ÖSTERREICH AUTRICHE ØSTERRIKEConwert Immobilien Invest SE 1,841 21,060 0.21

BRAZIL BRAZIL BRÉSIL BRASILAliansce Shopping Centers SA 1,200 7,818 0.08

BR Properties SA 2,200 17,453 0.17


45,856 0.46

CANADA KANADA CANADA CANADABoardwalk Real Estate Investment Trust 500 20,528 0.21

Brookfield Properties Corp 3,907 55,829 0.56

Canadian Real Estate Investment Trust 2,900 84,085 0.85

Cominar Real Estate Investment Trust 1,900 36,986 0.37

Morguard Real Estate Investment Trust 1,900 23,958 0.24

Primaris Retail Real Estate Investment Trust 1,400 25,033 0.25

246.419 2.48

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENE Agile Property Holdings Ltd 40,000 46,501 0.47





120,869 1.22

FINLAND FINNLAND FINLANDE FINLANDCitycon OYJ 6,529 21,776 0.22

Sponda OYJ 6,433 24,352 0.24

46,128 0.46

FRANCE FRANKREICH FRANCE FRANKRIKEGecina SA 287 28,511 0.29

Klepierre 3,009 91,573 0.92

Mercialys SA 1,116 36,295 0.37

Societe Immobiliere de Location pour l’Industrie et le Commerce 361 39,349 0.40

Unibail-Rodamco SE 958 176,890 1.77

372,618 3.75

HONG KONG HONG KONG HONG KONG HONG KONGHang Lung Properties Ltd 25,000 111,816 1.13




Link REIT 15,500 45,470 0.46


Sino Land Co Ltd 16,000 27,844 0.28



1,025,871 10.34

Invesco Global Income Real Estate Securities Fund



USD %


57 Invesco Funds

ITALY ITALIEN ITALIE ITALIABeni Stabili SpA 18,144 14,398 0.15

JAPAN JAPAN JAPON JAPANAdvance Residence Investment Corp 7 10,845 0.11

Aeon Mall Co Ltd 900 20,526 0.21










661,066 6.66

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGProLogis European Properties 3,470 20,408 0.21

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDCorio NV 1,304 73,556 0.74

Eurocommercial Properties NV 829 31,558 0.32

105,114 1.06

SINGAPORE SINGAPUR SINGAPOUR SINGAPORECapitaCommercial Trust 29,000 29,615 0.30

CapitaLand Ltd 37,000 105,987 1.07

CapitaMall Trust 61,000 87,030 0.88

CapitaMalls Asia Ltd 12,000 18,625 0.19

City Developments Ltd 2,000 16,177 0.16

Keppel Land Ltd 18,000 50,500 0.51

Suntec Real Estate Investment Trust 44,000 45,906 0.46

353,840 3.57

SWEDEN SCHWEDEN SUEDE SVERIGECastellum AB 3,869 39,523 0.40

SWITZERLAND SCHWEIZ SUISSE SVEITSSwiss Prime Site AG 1,086 70,030 0.71

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIABig Yellow Group Plc 6,203 27,288 0.27

British Land Co Plc 9,541 65,657 0.66

Derwent London Plc 1,489 32,103 0.32

Hammerson Plc 11,746 63,746 0.64

Hansteen Holdings Plc 19,403 18,962 0.19

Land Securities Group Plc 9,965 92,274 0.94

Segro Plc 6,734 27,379 0.28

Shaftesbury Plc 5,887 37,191 0.37

Unite Group Plc 7,781 21,411 0.22

386,011 3.89

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAcadia Realty Trust 1,565 27,841 0.28

Alexandria Real Estate Equities Inc 1,300 90,448 0.91

AMB Property Corp 1,900 44,935 0.45

AvalonBay Communities Inc 834 85,848 0.87

BioMed Realty Trust Inc 1,400 23,562 0.24

Boston Properties Inc 1,200 97,332 0.98

Camden Property Trust 2,500 112,250 1.13

Corporate Office Properties Trust SBI MD 600 21,726 0.22

DCT Industrial Trust Inc 5,600 25,956 0.26

DiamondRock Hospitality Co 2,900 25,912 0.26

Digital Realty Trust Inc 2,200 128,017 1.29




USD %


58 Invesco Funds

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Equity Residential 3,500 158,252 1.59

Essex Property Trust Inc 1,000 103,370 1.04

HCP Inc 1,000 35,350 0.36

Health Care REIT Inc 2,800 127,274 1.28

Highwoods Properties Inc 1,500 46,785 0.47

Host Hotels & Resorts Inc 8,715 113,644 1.15

Kilroy Realty Corp 1,800 54,801 0.55

LaSalle Hotel Properties 900 18,860 0.19

Liberty Property Trust 3,200 96,176 0.97

Macerich Co 2,419 97,607 0.98

Marriott International Inc 1,563 49,492 0.50

Mid-America Apartment Communities Inc 300 16,763 0.17

National Retail Properties Inc 1,300 31,096 0.31

Nationwide Health Properties Inc 1,700 64,983 0.65

Omega Healthcare Investors Inc 1,500 31,515 0.32

Piedmont Office Realty Trust Inc 2,000 35,810 0.36

ProLogis 5,200 55,926 0.56

Public Storage 1,200 116,874 1.18

Regency Centers Corp 2,800 101,598 1.02

Retail Opportunity Investments Corp 1,414 13,270 0.13

Senior Housing Properties Trust 4,200 97,230 0.98

Simon Property Group Inc 3,565 320,172 3.24

SL Green Realty Corp 600 34,962 0.35

Sovran Self Storage Inc 400 14,818 0.15

Tanger Factory Outlet Centers 700 32,022 0.32

Ventas Inc 1,700 85,723 0.86


Washington Real Estate Investment Trust 1,200 36,546 0.37

2,825,317 28.46


BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSUNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAHammerson Plc 4.875% EUR 19/06/2015 100,000 132,379 1.33

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USACorporate Office Properties Trust SBI MD 7.625% USD Perpetual 500 12,596 0.13

Digital Realty Trust Inc 7.875% USD Perpetual 6,500 167,278 1.69

Health Care REIT Inc 7.625% USD Perpetual 2,200 55,990 0.56

Kilroy Realty Corp 7.8% USD Perpetual 6,800 169,864 1.71

LaSalle Hotel Properties 7.25% USD Perpetual 3,100 72,819 0.73


National Retail Properties Inc 7.375% USD Perpetual 2,300 58,291 0.59

Omega Healthcare Investors Inc 8.375% USD Perpetual 2,200 56,551 0.57

PS Business Parks Inc 7.2% USD Perpetual 1,200 30,210 0.30


Public Storage 6.625% USD Perpetual 5,200 132,249 1.33



Realty Income Corp 6.75% USD Perpetual 2,600 65,605 0.66

SL Green Realty Corp 7.875% USD Perpetual 14,400 362,087 3.65

Vornado Realty Trust 7% USD Perpetual 3,600 92,826 0.94

1,821,782 18.36

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN INSGESAMT TOTAL DES OBLIGATIONS COTÉE TOTAL BONDS1,954,161 19.69





USD %


OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/ AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGE

VERDIPAPIREREQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIABGP Holdings 187,667 – –


BONDS BÖRSENNOTIERTE OBLIGATIONS BONDSUNITED STATES ANLEIHENVEREINIGTE ETATS-UNIS USA

STAATEN VON AMERIKABank of America Lar Loan FRN USD 15/10/2019 100,000 82,446 0.83

Bear Stearns Commercial Mortgage Securities 4.484% USD 11/06/2041 491 491 –

Commercial Mortgage Pass Through Certificates 6.83% USD 16/02/2034 80,000 81,107 0.82

Credit Suisse Collaterised Mortgage Obligation FRN USD 15/10/2021 100,000 85,306 0.86

DLJ Commercial Mortgage Corp 7.459% USD 10/06/2031 45,000 49,792 0.50

LB-UBS Commercial Mortgage Trust 4.31% USD 15/02/2030 8,772 8,805 0.09


Merrill Lynch Collaterised Mortgage Obligations 0.446% USD 15/06/2022 50,000 42,792 0.43

Merrill Lynch Trust FRN USD 15/06/2022 75,000 60,761 0.61

Wachovia Bank Commercial Mortgage Trust FRN USD 15/09/2021 50,000 41,055 0.41

Wachovia Bank Commercial Mortgage Trust 4.107% USD 15/06/2035 20,000 20,531 0.21

568,177 5.73

TOTAL BONDS BÖRSENNOTIERTE TOTAL DES OBLIGATIONS TOTAL BONDSANLEIHEN INSGESAMT COTÉE

568,177 5.73





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USD %

59 Invesco Funds


60 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERBRAZIL BRAZIL BRÉSIL BRASILBanco Bradesco SA ADR 2,380 41,162 0.60



BR Malls Participacoes SA 1,500 22,977 0.33

Bradespar SA 2,200 44,820 0.65


Cia de Bebidas das Americas 200 21,332 0.31

Cia Energetica de Minas Gerais ADR 900 14,787 0.21

Cielo SA 4,500 38,461 0.56

CPFL Energia SA 4,000 94,039 1.36

Cyrela Brazil Realty SA Empreendimentos e Participacoes 4,900 60,217 0.87

Investimentos Itau SA 10,000 68,222 0.99


Klabin SA 14,200 38,936 0.56


Lojas Renner SA 2,200 69,242 1.00

Marfrig Alimentos SA 2,500 23,981 0.35

Marfrig Alimentos SA (Rights 04/09/2010) 1 0 –

Natura Cosmeticos SA 1,200 29,013 0.42

Petroleo Brasileiro SA 4,300 62,177 0.90

Redecard SA 800 11,077 0.16

Souza Cruz SA 2,200 100,448 1.45


Vale SA 2,300 53,190 0.77


1,140,879 16.51


China Shineway Pharmaceutical Group Ltd 7,000 18,308 0.26

China Zhongwang Holdings Ltd 62,800 37,169 0.54


Tencent Holdings Ltd 2,200 40,307 0.59

124,370 1.80

CHILE CHILE CHILI CHILEEnersis SA 167,361 73,325 1.06

ENTEL Chile SA 980 15,795 0.23

Sociedad Quimica y Minera de Chile SA 425 18,228 0.26

107,348 1.55

CHINA CHINA CHINE KINAAir China Ltd 12,000 12,840 0.19Bank of China Ltd 190,000 95,359 1.38Bank of Communications Co Ltd 45,000 47,744 0.69BBMG Corp 14,500 18,617 0.27China Communications Construction Co Ltd 15,000 13,264 0.19China Construction Bank Corp 138,000 113,956 1.65China Life Insurance Co Ltd 20,000 76,279 1.10China Merchants Bank Co Ltd 22,500 57,720 0.84China Petroleum & Chemical Corp 136,000 107,410 1.55Dongfeng Motor Group Co Ltd 30,000 46,499 0.67Industrial & Commercial Bank of China 162,000 117,534 1.70Inner Mongolia Yitai Coal Co 5,100 28,165 0.41PetroChina Co Ltd 32,000 34,650 0.50Weichai Power Co Ltd 3,000 24,947 0.36Yanzhou Coal Mining Co Ltd 6,000 12,300 0.18Zhejiang Expressway Co Ltd 22,000 19,552 0.28

826,836 11.96

Invesco Emerging Markets Quantitive Equity Fund



USD %


61 Invesco Funds

EGYPT ÄGYPTEN ÉGYPTE EGYPTEgyptian Financial Group-Hermes Holding 2,553 12,953 0.19

HONG KONG HONG KONG HONG KONG HONG KONGChina Mobile Ltd 25,000 253,916 3.68

CNOOC Ltd 60,000 103,102 1.49

357,018 5.17

INDONESIA INDONESIEN INDONÉSIE INDONESIABank Mandiri Tbk PT 67,500 43,892 0.64

Bank Negara Indonesia Persero Tbk PT 130,500 49,651 0.72

Indo Tambangraya Megah PT 8,500 36,902 0.53

Semen Gresik Persero Tbk PT 24,000 23,044 0.33

153,489 2.22

MALAYSIA MALAYSIA MALAISIE MALAYSIAAlliance Financial Group Bhd 15,100 14,748 0.21DiGi.Com Bhd 4,700 36,723 0.53PLUS Expressways Bhd 13,000 17,337 0.25Public Bank Bhd 11,600 44,986 0.65RHB Capital Bhd 11,100 23,469 0.34Telekom Malaysia Bhd 45,000 50,690 0.74Tenaga Nasional Bhd 19,500 55,024 0.80UMW Holdings Bhd 6,900 14,490 0.21

257,467 3.73

MEXICO MEXIKO MEXIQUE MEXICOAlfa SAB de CV 7,700 54,384 0.79America Movil SAB de CV ADR 3,300 152,344 2.20Grupo Aeroportuario del Pacifico SAB de CV ADR 1,500 42,248 0.61Grupo Mexico SAB de CV 7,700 19,684 0.28Kimberly-Clark de Mexico SAB de CV 5,300 30,533 0.45

299,193 4.33

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEMetropolitan Bank & Trust 28,000 39,583 0.57

POLAND POLEN POLOGNE POLENGrupa Lotos SA 1,440 13,317 0.19Powszechna Kasa Oszczednosci Bank Polski SA 1,191 14,127 0.20Powszechny Zaklad Ubezpieczen SA 460 54,025 0.79

81,469 1.18

RUSSIA RUSSIA RUSIA RÚSSIAFederal Hydrogenerating Co ADR 2,927 15,147 0.22Gazprom OAO ADR 4,062 82,682 1.20Lukoil OAO ADR 320 17,008 0.25Mechel ADR 600 13,221 0.19MMC Norilsk Nickel ADR 2,544 43,095 0.62Rosneft Oil Co GDR 23,363 146,603 2.11Tatneft ADR 2,761 79,945 1.16

397,701 5.75

SOUTH AFRICA SÜDAFRIKA AFRIQUE DU SUD SØR-AFRIKAABSA Group Ltd 2,716 45,508 0.66African Rainbow Minerals Ltd 2,286 46,493 0.67AngloGold Ashanti Ltd ADR 600 25,485 0.37ArcelorMittal South Africa Ltd 5,346 59,182 0.87Exxaro Resources Ltd 1,526 23,124 0.33FirstRand Ltd 19,399 49,220 0.71Imperial Holdings Ltd 3,772 50,991 0.74Kumba Iron Ore Ltd 1,187 52,722 0.76Liberty Holdings Ltd 3,526 33,423 0.48Standard Bank Group Ltd 947 13,053 0.19Woolworths Holdings Ltd 24,706 80,183 1.16

479,384 6.94




USD %


62 Invesco Funds

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREABusan Bank 2,700 28,770 0.42

Dongkuk Steel Mill Co Ltd 2,060 41,152 0.60

GS Holdings 1,700 69,693 1.00

Hana Financial Group Inc 1,660 42,750 0.61

Hankook Tire Co Ltd 590 12,807 0.19

Hynix Semiconductor Inc 2,920 51,330 0.74

Hyundai Heavy Industries Co Ltd 71 15,649 0.23

Hyundai Motor Co 535 63,032 0.91

Hyundai Motor Co (Preferred) 308 12,961 0.19

Industrial Bank of Korea 1,650 19,921 0.29

Kia Motors Corp 1,430 36,767 0.53

Korea Exchange Bank 3,570 37,743 0.55

KT Corp 2,950 107,958 1.56

LG Chem Ltd 157 45,212 0.65

LG Corp 236 16,939 0.25

LG Display Co Ltd 1,690 46,976 0.68

POSCO 113 45,830 0.66

Samsung Electronics Co Ltd 235 148,088 2.15

Samsung Engineering Co Ltd 141 15,495 0.22

SK Energy Co Ltd 124 13,213 0.19

Woori Investment & Securities Co Ltd 2,470 36,105 0.52

908,391 13.14

TAIWAN TAIWAN TAIWAN TAIWANAdvanced Semiconductor Engineering Inc 63,794 43,862 0.63

AU Optronics Corp 14,000 12,073 0.17

Chang Hwa Commercial Bank 69,000 39,148 0.57

E.Sun Financial Holding Co Ltd 39,511 17,638 0.26

Farglory Land Development Co Ltd 9,000 19,442 0.28

Formosa Plastics Corp 16,000 35,437 0.52

HTC Corp 2,100 38,317 0.55

Hua Nan Financial Holdings Co Ltd 36,925 21,642 0.31

Macronix International 23,000 12,224 0.18

Mega Financial Holding Co Ltd 50,000 30,163 0.44

Nan Ya Plastics Corp 17,000 32,743 0.47

Powertech Technology Inc 26,000 77,024 1.11

Qisda Corp 26,000 14,447 0.21

Taishin Financial Holding Co Ltd 106,560 43,493 0.62

Taiwan Semiconductor Manufacturing Co Ltd ADR 23,200 218,893 3.18

Tripod Technology Corp 6,000 20,556 0.30

TSRC Corp 19,000 27,714 0.40

United Microelectronics Corp 154,000 62,256 0.90

767,072 11.10

THAILAND THAILAND THAILANDE THAILANDAdvanced Info Service PCL 5,100 15,143 0.22

Bangkok Bank PCL 8,700 41,929 0.61

Banpu PCL 2,700 52,394 0.76

Krung Thai Bank PCL 33,800 15,398 0.22

124,864 1.81

TURKEY TÜRKEI TURQUIE TYRKIATurk Telekomunikasyon AS 16,207 67,028 0.97

Turkiye Garanti Bankasi AS 2,921 13,990 0.20

Turkiye Halk Bankasi AS 5,257 41,764 0.60

Turkiye Is Bankasi 13,448 48,144 0.70

170,926 2.47





USD %


63 Invesco Funds


OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS FONDS À CAPITAL VARIABLE OPEN-END FONDFRANCE FRANKREICH FRANCE FRANKRIKELyxor ETF MSCI India 36,300 553,911 8.01

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-END FONDINSGESAMT CAPITAL VARIABLE

553,911 8.01




regnskapet.




USD %


64 Invesco Funds






EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIABHP Billiton Ltd ADR 294 19,552 0.98

Newcrest Mining Ltd 2,412 79,798 3.98

. 99,350 4.96

CANADA KANADA CANADA CANADAAgnico-Eagle Mines Ltd 1,530 99,282 4.96

Alamos Gold Inc 3,332 54,233 2.71

Aurizon Mines Ltd 8,836 58,627 2.93

Barrick Gold Corp 2,235 103,626 5.16

Cameco Corp 1,576 38,573 1.93

Centerra Gold Inc 1,957 27,568 1.38

Detour Gold Corp 3,178 95,309 4.76

Eldorado Gold Corp 4,910 95,024 4.75

Franco-Nevada Corp 1,481 44,569 2.23

Fronteer Gold Inc 10,337 75,709 3.78

Goldcorp Inc 2,695 117,853 5.88

Harry Winston Diamond Corp 1,447 14,927 0.75

IAMGOLD Corp 5,528 101,871 5.09

Kinross Gold Corp 2,155 35,014 1.75

Minefinders Corp 4,652 42,240 2.11

Osisko Mining Corp 5,515 72,691 3.63

Pan American Silver Corp 2,157 53,030 2.65

Silver Wheaton Corp 4,993 114,065 5.69

Yamana Gold Inc 8,865 91,398 4.56

1,335,609 66.70

PERU PERU PÉROU PERUCia de Minas Buenaventura SA ADR 1,975 80,037 4.00

SOUTH AFRICA SÜDAFRIKA AFRIQUE DU SUD SØR-AFRIKAGold Fields Ltd ADR 3,830 54,366 2.72

Harmony Gold Mining Co Ltd ADR 1,526 15,657 0.78

Impala Platinum Holdings Ltd 1,620 38,114 1.90

108,137 5.40

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAHammerson Plc 4.875% EUR 19/06/2015 100,000 132,379 1.33


Coeur d’Alene Mines Corp 1,134 19,499 0.97

Freeport-McMoRan Copper & Gold Inc 632 44,474 2.22


166,864 8.33


STRUCTURED PRODUCTS STRUKTURIERTE PRODUKTE PRODUITS STRUCTURÉS STRUKTURERTE PRODUKTERIRELAND IRLAND IRLANDE IRLANDSource Physical Markets Secured Gold Linked Noted 714 87,886 4.39

TOTAL STRUCTURED STRUKTURIERTE PRODUKTE TOTAL PRODUITS SAMLEDE STRUKTURERTE PRODUKTERPRODUCTS INSGESAMT STRUCTURÉS 87,886 4.39

Invesco Gold & Precious Metals Fund



USD %






regnskapet.




USD %

65 Invesco Funds


66 Invesco Funds






BONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDSANLEIHEN

Bank of America FRN USD 02/12/2010 5,000,000 5,011,125 4.31Lloyds TSB Bank FRN USD 01/04/2011 5,000,000 5,016,967 4.32Westpac Banking Corp FRN USD 02/03/2011 5,000,000 4,999,980 4.30


15,028,072 12.93

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTE 12.93

OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENRoyal Bank Of Scotland FRN USD 08/04/2011 6,500,000 6,509,854 5.60


6,509,854 5.60TOTAL OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES /SUM ANDRE OMSETTELIGE VERDIPAPIRER 6,509,854 5.60

MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/ZUGELASSENEGELDMARKTINSTRUMENTE GEM. ARTIKEL 41.1H DES GESETZES VOM 20. DEZEMBER 2002/INSTRUMENTS DU MARCHÉMONÉTAIRE ADMISSIBLES AU SENS DE L’ARTICLE 41.1H DE LA LOI DU 20 DÉCEMBRE 2002/PENGEMARKEDSINSTRUMENTERSOM KAN ANVENDES I HENHOLD TIL ARTIKKEL 41.1H I LOV AV 20. DESEMBER 2002Bank Nova Scotia FRN C/D USD 08/11/2010 4,000,000 4,000,000 3.44Bank of Western Australia C/P USD 29/10/2010 5,000,000 4,997,792 4.30Banque Et Caisse C/P USD 12/10/2010 4,000,000 3,998,792 3.44BNZ International Fund C/P USD 13/09/2010 5,000,000 4,999,576 4.30Caisse Des Depots C/P USD 24/11/2010 3,000,000 2,997,953 2.58Caisse Des Depots Et Consignations C/D USD 12/11/2010 4,000,000 3,997,442 3.44Credit Agricole CIB Australia C/P USD 29/10/2010 4,000,000 3,998,233 3.44Credit Suisse C/P USD 21/09/2010 5,000,000 4,999,288 4.30National Australia Bank C/P USD 20/09/2010 5,000,000 4,999,324 4.30Rabobank Nederland Australia C/P USD 21/10/2010 5,000,000 4,998,126 4.30

TOTAL MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/ZUGELASSENEGELDMARKTINSTRUMENTE GEM. ARTIKEL 41.1H DES GESETZES VOM 20. DEZEMBER 2002 INSGESAMT/TOTAL INSTRUMENTS DUMARCHÉ MONÉTAIRE ADMISSIBLES AU SENS DE L’ARTICLE 41.1H DE LA LOI DU 20 DÉCEMBRE 2002/SUMPENGEMARKEDSINSTRUMENTER SOM KAN ANVENDES I HENHOLD TIL ARTIKKEL 41.1H I LOV AV 20. DESEMBER 2002

43,986,526 37.84

OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS FONDS À CAPITAL OPEN-END FONDVARIABLE

Short-Term Investments Co Global Series - US Dollar Liquidity Portfolio 10,700,000 10,700,000 9.21

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À CAPITAL SUM OPEN-END FONDVARIABLE INSGESAMT 10,700,000 9.21




regnskapet.

Invesco USD Reserve Fund



USD %


67 Invesco Funds

Invesco Euro Reserve Fund



EUR %







Alliance and Leicester FRN EUR Perpetual 30,000,000 30,000,000 8.57Societe Generale FRN EUR 27/09/2010 7,500,000 7,501,040 2.14


37,501,040 10.71


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/ZUGELASSENEGELDMARKTINSTRUMENTE GEM. ARTIKEL 41.1H DES GESETZES VOM 20. DEZEMBER 2002/INSTRUMENTS DU MARCHÉMONÉTAIRE ADMISSIBLES AU SENS DE L’ARTICLE 41.1H DE LA LOI DU 20 DÉCEMBRE 2002/PENGEMARKEDSINSTRUMENTERSOM KAN ANVENDES I HENHOLD TIL ARTIKKEL 41.1H I LOV AV 20. DESEMBER 2002Banco Bilbao Vizcaya Argentaria C/P EUR 24/09/2010 15,000,000 14,994,908 4.28Bank of West Australia C/P EUR 19/10/2010 10,000,000 9,991,665 2.85Caisse Des Depots C/P EUR 05/11/2010 18,000,000 17,983,846 5.15Credit Agricole S.A. C/D EUR 01/09/2010 15,000,000 14,999,754 4.29Fortis Bank C/D EUR 01/09/2010 20,000,000 19,999,731 5.71Fortis Bank C/D EUR 04/01/2011 14,000,000 13,969,200 3.99Lloyds Banking Group C/P EUR 26/10/2010 13,000,000 12,987,779 3.71Lloyds TSB Bank Plc C/P EUR 18/11/2010 10,000,000 9,982,147 2.85Nordea AB C/P EUR 24/09/2010 15,000,000 14,995,379 4.28Rabobank Nederland C/P EUR 06/09/2010 10,000,000 9,999,392 2.86Rabobank Nederland C/P EUR 26/11/2010 10,000,000 9,989,257 2.85Royal Bank of Scotland C/P EUR 27/09/2010 10,000,000 9,995,804 2.86Royal Bank of Scotland C/P EUR 18/10/2010 10,000,000 9,993,237 2.86Societe Generale C/P EUR 27/09/2010 8,000,000 7,996,842 2.28Svenska Handel C/P EUR 06/09/2010 20,000,000 19,998,386 5.72


197,877,327 56.54

OPEN-ENDED FUNDS OFFENE FONDS À CAPITAL OPEN-END FONDINVESTMENTFONDS VARIABLE

Short-Term Investments Co Global Series - Euro Liquidity Portfolio 25,930,000 25,930,000 7.41

TOTAL OPEN-ENDED FUNDS OFFENE TOTAL FONDS À CAPITAL SUM OPEN-END FONDINVESTMENTFONDS VARIABLEINSGESAMT 25,930,000 7.41




regnskapet.


Invesco Global Bond Fund



USD %






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSBank of America Corp 4.625% EUR 07/08/2017 500,000 649,474 1.61Belgium Government Bond 3.25% EUR 28/09/2016 600,000 807,135 2.01BP Capital Markets Plc 4.75% USD 10/11/2010 600,000 601,950 1.50BP Capital Markets Plc 5.25% USD 07/11/2013 1,000,000 1,038,950 2.58Bundesobligation 2.5% EUR 10/10/2014 1,000,000 1,342,771 3.34Bundesrepublik Deutschland 3.75% EUR 04/07/2013 300,000 412,675 1.03Bundesrepublik Deutschland 3.75% EUR 04/01/2017 400,000 572,921 1.42Goldman Sachs Group Inc 5.375% USD 15/03/2020 500,000 516,228 1.28HBOS Plc FRN AUD 01/05/2017 1,000,000 709,291 1.76Hongkong & Shanghai Banking Corp Ltd FRN USD Perpetual 1,705,000 1,641,062 4.08Ireland Government Bond 5% EUR 18/10/2020 1,000,000 1,191,224 2.96Italy Buoni Poliennali Del Tesoro 3% EUR 15/04/2015 1,000,000 1,291,315 3.21Italy Buoni Poliennali Del Tesoro 4% EUR 01/09/2020 500,000 648,140 1.61JPMorgan Chase & Co 4.95% USD 25/03/2020 1,000,000 1,056,877 2.63Lloyds TSB Bank Plc 2.8% USD 02/04/2012 1,000,000 1,022,221 2.54Lloyds TSB Bank Plc 3.375% EUR 17/03/2015 500,000 650,835 1.62Lloyds TSB Bank Plc 5.8% USD 13/01/2020 500,000 516,367 1.28Morgan Stanley 5.375% EUR 10/08/2020 500,000 652,528 1.62Morgan Stanley 5.5% USD 26/01/2020 500,000 505,028 1.26Motors Liquidation Co 8.375% USD 15/07/2033 500,000 162,500 0.40Netherlands Government Bond 4% EUR 15/07/2018 1,000,000 1,449,658 3.60Northern Rock Asset Management Plc 5.625% USD 22/06/2017 1,000,000 1,071,100 2.66Republic of Italy 5.375% USD 15/06/2033 400,000 424,946 1.06Royal Bank of Scotland FRN USD 11/04/2016 250,000 207,500 0.52Royal Bank of Scotland Plc 4.875% USD 16/03/2015 500,000 521,170 1.30Spain Government Bond 3% EUR 30/04/2015 900,000 1,134,739 2.82Spain Government Bond 3.8% EUR 31/01/2017 500,000 644,250 1.60Spain Government International Bond 2.75% USD 05/03/2012 1,000,000 1,009,510 2.51Spain Government International Bond 3.625% USD 17/06/2013 1,500,000 1,545,075 3.84UBS AG FRN USD 18/04/2016 500,000 483,958 1.20United Kingdom Gilt 3.25% GBP 07/12/2011 1,500,000 2,392,964 5.95United States Treasury Note/Bond 2.625% USD 15/08/2020 1,000,000 1,010,391 2.51United States Treasury Note/Bond 3.5% USD 15/05/2020 1,000,000 1,086,914 2.70United States Treasury Note/Bond 4.125% USD 15/05/2015 600,000 678,492 1.69United States Treasury Note/Bond 4.25% USD 15/08/2015 520,000 592,028 1.47United States Treasury Note/Bond 4.375% USD 15/11/2039 1,000,000 1,146,836 2.85United States Treasury Note/Bond 4.5% USD 15/08/2039 2,000,000 2,341,250 5.82United States Treasury Note/Bond 4.625% USD 15/02/2017 800,000 937,063 2.33United States Treasury Note/Bond 4.625% USD 15/02/2040 1,000,000 1,193,828 2.97






regnskapet.

68 Invesco Funds


Invesco European Bond Fund



EUR %






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAbbey National Treasury Services Plc 3.375% EUR 08/06/2015 650,000 666,558 1.04Anheuser-Busch InBev NV 7.375% EUR 30/01/2013 300,000 338,222 0.53ArcelorMittal 8.25% EUR 03/06/2013 350,000 393,684 0.61Austria Government Bond 4.65% EUR 15/01/2018 1,200,000 1,399,746 2.18Autonomous Community of Valencia 3.25% EUR 06/07/2015 1,000,000 966,590 1.50AXA SA FRN GBP Perpetual 400,000 414,287 0.64Banco Santander Totta SA 3.75% EUR 12/06/2012 400,000 404,912 0.63Bank of America Corp 4.625% EUR 07/08/2017 400,000 409,708 0.64BAT International Finance Plc 5.875% EUR 12/03/2015 250,000 288,109 0.45Belgium Government Bond 4% EUR 28/03/2022 700,000 771,295 1.20Belgium Government Bond 5.5% EUR 28/09/2017 500,000 602,283 0.94BG Energy Capital Plc 3.375% EUR 15/07/2013 600,000 626,610 0.97BNP Paribas Home Loan Covered Bonds SA 2.25% EUR 01/10/2012 600,000 610,908 0.96British Telecommunications Plc 6.5% EUR 07/07/2015 200,000 226,330 0.35Bundesobligation 2.25% EUR 11/04/2014 1,500,000 1,574,505 2.45Bundesobligation 4.25% EUR 12/10/2012 2,720,000 2,928,080 4.55Bundesrepublik Deutschland 3% EUR 04/07/2020 3,050,000 3,293,878 5.12Bundesrepublik Deutschland 3.25% EUR 04/01/2020 1,340,000 1,475,796 2.29Bundesrepublik Deutschland 3.5% EUR 04/01/2016 6,120,000 6,775,911 10.53Bundesrepublik Deutschland 3.75% EUR 04/01/2015 5,000,000 5,551,575 8.63Bundesrepublik Deutschland 4.75% EUR 04/07/2040 1,510,000 2,160,742 3.36Casino Guichard Perrachon SA 4.481% EUR 12/11/2018 200,000 214,290 0.33Citigroup Inc 7.375% EUR 16/06/2014 350,000 400,103 0.62Cloverie Plc for Zurich Insurance Co FRN EUR 24/07/2039 150,000 176,921 0.28CRH Finance UK Plc 8.25% GBP 24/04/2015 300,000 426,818 0.66Czech Republic Government Bond 3.8% CZK 11/04/2015 4,500,000 190,886 0.30Enbw International Finance BV 5.875% EUR 28/02/2012 500,000 532,358 0.83Erste Group Bank AG FRN EUR 19/07/2017 300,000 267,642 0.42European Investment Bank 2.5% CHF 08/02/2019 750,000 632,181 0.98Experian Finance Plc 4.75% EUR 04/02/2020 150,000 163,694 0.25F Van Lanschot Bankiers NV 3.5% EUR 02/04/2013 500,000 504,888 0.78Finland Government Bond 4.375% EUR 04/07/2019 200,000 234,433 0.36France Government Bond OAT 3.5% EUR 25/04/2020 1,780,000 1,936,257 3.01France Government Bond OAT 4% EUR 25/10/2038 600,000 713,766 1.11G4S Plc 7.75% GBP 13/05/2019 500,000 719,085 1.12Glencore Finance Europe SA 5.25% EUR 11/10/2013 400,000 412,652 0.64HeidelbergCement Finance BV 7.625% EUR 25/01/2012 150,000 156,904 0.24HSBC Bank Plc 4% EUR 15/01/2021 600,000 634,230 0.99Infinis Plc 9.125% GBP 15/12/2014 110,000 139,045 0.22ING Bank NV 3% EUR 30/09/2014 550,000 574,163 0.89ING Bank NV 3.375% EUR 03/03/2015 400,000 412,936 0.64Intesa Sanpaolo SpA 5% EUR 23/09/2019 300,000 315,683 0.49Italy Buoni Poliennali Del Tesoro 3.75% EUR 01/08/2016 800,000 840,576 1.31Italy Buoni Poliennali Del Tesoro 3.75% EUR 01/08/2021 2,000,000 2,001,840 3.11Italy Buoni Poliennali Del Tesoro 4% EUR 01/02/2037 910,000 843,338 1.31Italy Buoni Poliennali Del Tesoro 4.25% EUR 01/02/2019 800,000 843,760 1.31MetLife Inc 5.25% GBP 29/06/2020 400,000 506,837 0.78Morgan Stanley 5.375% EUR 10/08/2020 250,000 257,271 0.40Netherlands Government Bond 4% EUR 15/07/2019 920,000 1,055,341 1.64Netherlands Government Bond 4.25% EUR 15/07/2013 500,000 548,748 0.85Norway Government Bond 6% NOK 16/05/2011 1,100,000 140,875 0.22Permanent Master Issuer Plc FRN EUR 15/07/2042 350,000 355,025 0.55Poland Government Bond 4.75% PLN 25/04/2012 2,110,000 528,811 0.82Royal Bank of Scotland Plc 6.934% EUR 09/04/2018 200,000 215,488 0.33Schiphol Nederland BV 6.625% EUR 23/01/2014 500,000 573,689 0.90Spain Government Bond 4% EUR 30/04/2020 430,000 431,062 0.67Sweden Government Bond 5.5% SEK 08/10/2012 6,320,000 732,266 1.14TMD Friction Finance SA 10.75% EUR 15/05/2017 70,000 70,000 0.11Toyota Motor Credit Corp 5.25% EUR 03/02/2012 150,000 157,781 0.25UniCredit Bank AG 6% EUR 05/02/2014 400,000 431,526 0.67United Kingdom Gilt 4.25% GBP 07/03/2036 2,800,000 3,659,953 5.69United Kingdom Gilt 4.25% GBP 07/09/2039 320,000 418,903 0.65United Kingdom Gilt 4.25% GBP 07/12/2055 1,250,000 1,673,610 2.60United Kingdom Gilt 4.75% GBP 07/03/2020 2,900,000 4,090,644 6.36

69 Invesco Funds





EUR %






regnskapet.

70 Invesco Funds


71 Invesco Funds

TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKET





BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAmerican Financial Group Inc 9.875% USD 15/06/2019 150,000 148,591 0.46Anadarko Petroleum Corp 6.375% USD 15/09/2017 250,000 195,536 0.61ArcelorMittal 9% USD 15/02/2015 250,000 236,354 0.73Banco Santander Chile 2.875% USD 13/11/2012 200,000 160,024 0.50Bank of America Corp 4.625% EUR 07/08/2017 200,000 204,854 0.64BNP Paribas Home Loan Covered Bonds SA 2.25% EUR 01/10/2012 400,000 407,272 1.27Bundesobligation 2.5% EUR 08/10/2010 4,000,000 4,008,100 12.48Bundesobligation 3.5% EUR 08/04/2011 4,870,000 4,958,391 15.43Bundesobligation 4.25% EUR 12/10/2012 390,000 419,835 1.31Bundesrepublik Deutschland 3.75% EUR 04/01/2019 160,000 182,110 0.57Bundesrepublik Deutschland 4% EUR 04/01/2037 550,000 686,213 2.14Bundesrepublik Deutschland 4.25% EUR 04/07/2017 1,040,000 1,211,397 3.77Bundesschatzanweisungen 1.25% EUR 11/03/2011 8,620,000 8,657,498 26.94Canadian Government Bond 3.75% CAD 01/06/2019 1,050,000 846,129 2.63Citigroup Inc 5.375% USD 09/08/2020 250,000 199,026 0.62CNA Financial Corp 5.875% USD 15/08/2020 150,000 118,741 0.37Commerzbank AG 2.75% EUR 13/01/2012 400,000 409,854 1.27Credit Suisse 4.375% USD 05/08/2020 400,000 317,040 0.98Crown European Holdings SA 7.125% EUR 15/08/2018 100,000 102,802 0.32DIRECTV Holdings LLC 7.625% USD 15/05/2016 250,000 217,101 0.68DSG International Plc 8.75% GBP 03/08/2015 50,000 60,282 0.19Empresa Nacional del Petroleo 5.25% USD 10/08/2020 150,000 121,691 0.38Erste Group Bank AG FRN EUR 19/07/2017 300,000 267,642 0.83European Investment Bank 6.5% NZD 10/09/2014 60,000 35,450 0.11Goldman Sachs Group Inc 5.375% USD 15/03/2020 300,000 244,238 0.76HeidelbergCement Finance BV 7.625% EUR 25/01/2012 100,000 104,603 0.33HSBC Bank Plc 4.125% USD 12/08/2020 300,000 239,495 0.74Infinis Plc 9.125% GBP 15/12/2014 75,000 94,803 0.30ING Bank NV 3% EUR 30/09/2014 350,000 365,377 1.13Japanese Government CPI Linked Bond 1.4% JPY 10/06/2018 239,200,000 2,170,125 6.76Kabel Deutschland GmbH 10.75% EUR 01/07/2014 150,000 157,082 0.49Macquarie Group Ltd 4.875% USD 10/08/2017 250,000 198,826 0.62MetLife Inc 5.875% USD 06/02/2041 100,000 85,435 0.27Moody’s Corp 5.5% USD 01/09/2020 250,000 200,356 0.62Polypore Inc 8.75% EUR 15/05/2012 150,000 150,754 0.47Seat Pagine Gialle SpA 10.5% EUR 31/01/2017 75,000 70,481 0.22TMD Friction Finance SA 10.75% EUR 15/05/2017 50,000 50,000 0.16UBS AG 2.25% USD 12/08/2013 250,000 198,083 0.62United Kingdom Gilt 3.75% GBP 07/09/2019 1,110,000 1,454,692 4.53United States of America Treasury Bonds 4.25% USD 15/05/2039 1,030,000 913,305 2.84



OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSRockwood Specialties Group Inc 7.625% EUR 15/11/2014 150,000 153,750 0.48Volkswagen International Finance NV 4% USD 12/08/2020 150,000 122,003 0.38

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN INSGESAMT TOTAL DES OBLIGATIONS COTÉE TOTAL BONDS275,753 0.86

TOTAL OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/SUM ANDRE OMSETTELIGE VERDIPAPIRER 275,753 0.86




Invesco Absolute Return Bond Fund



EUR %


72 Invesco Funds






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSA2A SpA 4.5% EUR 02/11/2016 3,500,000 3,710,508 0.22

Abbey National Treasury Services Plc 3.125% EUR 30/06/2014 15,000,000 15,293,820 0.90

ABN Amro Bank NV FRN EUR Perpetual 11,000,000 7,507,610 0.44

AGCO Corp 6.875% EUR 15/04/2014 2,727,000 2,767,905 0.16

Ally Financial Inc 5.75% USD 27/09/2010 44,000 34,913 –

Alstom SA 4% EUR 23/09/2014 1,000,000 1,064,215 0.06

America Movil SAB de CV 3.75% EUR 28/06/2017 10,000,000 10,470,300 0.62

American International Group Inc FRN EUR 15/03/2067 200,000 122,792 0.01


Angel Lux Common SA FRN EUR 01/05/2016 1,306,363 1,311,660 0.08

Anglo American Capital Plc 4.25% EUR 30/09/2013 4,000,000 4,221,420 0.25

Anheuser-Busch InBev NV 4% EUR 26/04/2018 7,000,000 7,532,945 0.44

AP Moller - Maersk A/S 4.875% EUR 30/10/2014 4,000,000 4,303,980 0.25

Areva SA 3.875% EUR 23/09/2016 2,000,000 2,130,620 0.13

Areva SA 4.375% EUR 06/11/2019 3,000,000 3,285,525 0.19

ASML Holding NV 5.75% EUR 13/06/2017 8,500,000 9,070,563 0.53

Assicurazioni Generali SpA 5.125% EUR 16/09/2024 2,500,000 2,742,638 0.16

Australia & New Zealand Banking Group Ltd 3.75% EUR 10/03/2017 18,000,000 19,038,600 1.12

Autoroutes du Sud de la France 4.125% EUR 13/04/2020 4,000,000 4,284,320 0.25

Aviva Plc FRN EUR Perpetual 5,500,000 4,347,888 0.26

AXA SA FRN EUR 16/04/2040 5,000,000 4,979,625 0.29

Bank of America Corp 4% EUR 23/03/2015 5,300,000 5,460,935 0.32

Bank of America Corp 4.625% EUR 07/08/2017 10,000,000 10,242,699 0.60



Bank of Scotland Plc FRN EUR 07/02/2035 12,000,000 8,415,000 0.49

Banque PSA Finance 3.625% EUR 29/04/2014 5,000,000 5,043,000 0.30

Barclays Bank Plc FRN EUR 20/04/2016 9,050,000 8,869,000 0.52


Barclays Bank Plc 4% EUR 20/01/2017 10,000,000 10,538,800 0.62

Barclays Bank Plc FRN EUR Perpetual 52,000,000 34,669,439 2.05

Barclays Bank Plc 4.875% EUR 13/08/2019 5,000,000 5,520,625 0.32

BAT International Finance Plc 4.875% EUR 24/02/2021 3,000,000 3,418,740 0.20

Bayer AG FRN EUR 29/07/2105 31,981,000 31,587,154 1.86

BBVA Senior Finance SAU 3.25% EUR 23/04/2015 30,000,000 29,865,750 1.75

BNP Paribas FRN EUR Perpetual 19,850,000 20,604,300 1.21

BNP Paribas Capital Trust III FRN EUR Perpetual 5,000,000 4,983,950 0.29

Bombardier Inc FRN EUR 15/11/2013 392,000 392,000 0.02

Bouygues SA 4% EUR 12/02/2018 2,500,000 2,688,625 0.16

BPCE SA FRN EUR Perpetual 15,500,000 15,422,500 0.91

Bradford & Bingley Plc FRN EUR 20/09/2011 3,550,000 3,489,828 0.21

British American Tobacco Holdings 4.375% EUR 15/09/2014 2,000,000 2,169,340 0.13

Bundesobligation 2.5% EUR 10/10/2014 40,000,000 42,353,000 2.50


Bundesrepublik Deutschland 3% EUR 04/07/2020 30,000,000 32,398,800 1.90

C10-EUR Capital SPV Ltd FRN EUR Perpetual 14,400,000 8,640,000 0.51

Caisse Centrale du Credit Immobilier de France 3.75% EUR 22/01/2015 5,000,000 5,193,050 0.31

Carrefour SA 4% EUR 09/04/2020 6,000,000 6,491,790 0.38

Cattles Plc 7.125% GBP 05/07/2017 400,000 46,244 –

CDP Financial Inc 3.5% EUR 23/06/2020 41,950,000 41,950,000 2.47

Celesio Finance B.V. 4.5% EUR 26/04/2017 8,000,000 7,990,320 0.47

Cemex Finance Europe BV 4.75% EUR 05/03/2014 2,000,000 1,684,980 0.10

CIBC World Markets Plc FRN EUR 22/06/2017 2,500,000 2,318,750 0.14

Citigroup Inc FRN EUR 25/02/2030 3,000,000 2,382,885 0.14

Citigroup Inc 7.375% EUR 04/09/2019 2,000,000 2,358,360 0.14

CL Capital Trust I FRN EUR Perpetual 20,560,000 19,435,675 1.14

Coca-Cola HBC Finance BV 4.25% EUR 16/11/2016 4,000,000 4,295,290 0.25

Cognis GmbH FRN EUR 15/09/2013 20,000,000 19,880,900 1.17

Invesco Euro Corporate Bond Fund



EUR %


73 Invesco Funds

Commonwealth Bank of Australia 5.5% EUR 06/08/2019 2,000,000 2,285,050 0.13

Co-Operative Bank Plc FRN EUR 18/05/2016 4,000,000 2,960,000 0.17

Credit Agricole SA FRN EUR Perpetual 6,700,000 6,847,166 0.40

Crown European Holdings SA 7.125% EUR 15/08/2018 3,000,000 3,084,054 0.19

Danske Bank A/S FRN EUR 18/08/2014 2,000,000 2,038,130 0.12

Deutsche Bank AG FRN EUR 22/09/2015 12,751,000 12,057,970 0.71

Deutsche Bank AG FRN EUR 20/09/2016 500,000 464,584 0.03

Deutsche Bank Capital Funding Trust XI 9.5% EUR Perpetual 7,000,000 7,654,290 0.45

Deutsche Telekom International Finance BV 4.25% EUR 16/03/2020 4,000,000 4,281,100 0.25



DONG Energy A/S 4.875% EUR 16/12/2021 3,000,000 3,392,325 0.20

EADS Finance BV 4.625% EUR 12/08/2016 4,000,000 4,366,960 0.26

EDF SA 4.625% EUR 26/04/2030 20,000,000 22,024,000 1.30

Edison SpA 4.25% EUR 22/07/2014 2,000,000 2,123,440 0.12

Enagas 3.25% EUR 06/07/2012 2,500,000 2,559,813 0.15

Enbw International Finance BV 4.125% EUR 07/07/2015 1,000,000 1,089,075 0.06

FCE Bank Plc 9.375% EUR 17/01/2014 3,000,000 3,285,000 0.19

Fiat Finance & Trade SA 6.875% EUR 13/02/2015 2,000,000 2,088,510 0.12

Fortis Bank SA/NV FRN EUR 14/02/2018 8,940,000 8,253,855 0.49

France Telecom SA 3.875% EUR 09/04/2020 15,000,000 16,146,000 0.95

Galeries Lafayette SA 4.5% EUR 28/04/2017 20,000,000 19,986,000 1.18

Gas Natural Capital Markets SA 3.125% EUR 02/11/2012 1,500,000 1,527,053 0.09


GE Capital European Funding 4.25% EUR 01/03/2017 6,000,000 6,406,710 0.38

General Electric Capital Corp FRN EUR 15/09/2066 5,999,000 4,816,687 0.28


GMAC International Finance BV 7.5% EUR 21/04/2015 13,000,000 12,949,885 0.77

Governor & Co of the Bank of Ireland 10% EUR 12/02/2020 5,000,000 5,164,250 0.30

Groupe des Assurances Mutuelles Agricoles FRN EUR Perpetual 5,000,000 3,580,475 0.21

Groupe des Assurances Mutuelles Agricoles FRN EUR 27/10/2039 10,000,000 9,883,950 0.58

HBOS Plc 4.875% EUR 20/03/2015 1,500,000 1,477,298 0.09

Hertz Holdings Netherlands BV 8.5% EUR 31/07/2015 3,500,000 3,666,250 0.22

HSBC Bank Plc FRN EUR 18/03/2016 1,000,000 1,007,672 0.06

HSBC Capital Funding LP FRN EUR Perpetual 10,000,000 9,394,650 0.55


Hutchison Whampoa Finance 09 Ltd 4.75% EUR 14/11/2016 8,000,000 8,588,160 0.50

Iberdrola Finanzas SAU 4.125% EUR 23/03/2020 4,500,000 4,706,685 0.28

ING Groep NV FRN EUR Perpetual 2,000,000 1,540,000 0.09

ING Verzekeringen NV 0% EUR 31/05/2011 13,000,000 12,757,615 0.75

International Power Finance 2010 Plc 7.25% EUR 11/05/2017 5,000,000 5,925,000 0.35

Intesa Sanpaolo SpA 5% EUR 23/09/2019 2,500,000 2,630,688 0.15

Intesa Sanpaolo SpA FRN EUR Perpetual 4,000,000 3,918,739 0.24

Iron Mountain Inc 6.75% EUR 15/10/2018 5,600,000 5,460,000 0.32

JPMorgan Chase & Co 0% EUR 31/01/2014 2,800,000 2,585,296 0.15

Kabel Deutschland GmbH 10.75% EUR 01/07/2014 250,000 261,804 0.02

Koninklijke KPN NV 5.625% EUR 30/09/2024 7,000,000 8,250,865 0.49

Lagardere SCA 4.875% EUR 06/10/2014 28,500,000 28,965,832 1.70

LBG Capital No.1 Plc 6.439% EUR 23/05/2020 60,310,000 50,358,849 2.97

Legrand France SA 8.5% USD 15/02/2025 3,000,000 2,949,361 0.17

Lloyds TSB Bank Plc 3.375% EUR 17/03/2015 4,000,000 4,105,660 0.24



Lottomatica SpA 5.375% EUR 05/12/2016 9,000,000 9,557,505 0.56

Merck Financial Services GmbH 3.375% EUR 24/03/2015 4,000,000 4,200,580 0.25


Merrill Lynch & Co Inc FRN EUR 14/09/2018 5,000,000 4,058,440 0.24

Merrill Lynch SA FRN EUR 29/09/2010 100,000 99,945 0.01

Morgan Stanley 4.375% EUR 14/01/2011 100,000 101,005 0.01

Morgan Stanley 4.5% EUR 29/10/2014 3,500,000 3,640,263 0.21

Motors Liquidation Co 8.375% EUR 05/07/2033 5,900,000 2,006,000 0.12

National Australia Bank Ltd FRN EUR 07/04/2016 7,000,000 6,912,500 0.41

National Australia Bank Ltd 3.5% EUR 23/01/2015 20,000,000 20,878,800 1.24


Nationwide Building Society FRN EUR 22/12/2016 5,000,000 4,532,500 0.27

Nationwide Building Society 3.75% EUR 20/01/2015 8,000,000 8,216,200 0.48

Natixis FRN EUR 26/01/2017 3,000,000 2,794,122 0.16




EUR %


74 Invesco Funds

Neste Oil OYJ 4.875% EUR 06/07/2015 10,000,000 10,573,965 0.62

Nomura Bank International Plc FRN EUR 16/02/2017 10,000,000 9,855,300 0.58


Pernod-Ricard SA 4.875% EUR 18/03/2016 9,000,000 9,336,771 0.55

Polypore Inc 8.75% EUR 15/05/2012 2,400,000 2,412,060 0.14

Portugal Telecom International Finance BV 5% EUR 04/11/2019 6,000,000 6,063,660 0.36

Prysmian SpA 5.25% EUR 09/04/2015 6,900,000 7,039,725 0.41

Rabobank Nederland NV 4.375% EUR 05/05/2016 3,000,000 3,305,595 0.19

Rhodia SA FRN EUR 15/10/2013 11,216,000 10,991,680 0.65

Rhodia SA 7% EUR 15/05/2018 7,000,000 7,183,750 0.42

Royal Bank of Scotland Plc 3.625% EUR 17/05/2013 1,202,000 1,212,350 0.07

Royal Bank of Scotland Plc FRN EUR 28/01/2016 1,000,000 890,525 0.05




SABMiller Plc 4.5% EUR 20/01/2015 2,000,000 2,167,790 0.13

Sanofi-Aventis SA 4.125% EUR 11/10/2019 4,000,000 4,401,220 0.26

SAP AG 2.5% EUR 10/04/2014 6,000,000 6,093,240 0.36

SAP AG 3.5% EUR 10/04/2017 5,000,000 5,158,375 0.30

Schneider Electric SA 2.875% EUR 20/07/2016 2,000,000 2,082,180 0.12

SG Capital Trust III FRN EUR Perpetual 8,000,000 6,948,560 0.41

Siemens Financieringsmaatschappij NV FRN EUR 14/09/2066 10,400,000 10,903,360 0.64

Skandinaviska Enskilda Banken AB FRN EUR 28/09/2017 3,000,000 2,880,000 0.17

Smiths Group Plc 4.125% EUR 05/05/2017 15,000,000 15,381,150 0.90

Societe Generale FRN EUR Perpetual 31,550,000 30,460,578 1.78


Societe Nationale des Chemins de Fer Francais 4.125% EUR 19/02/2025 12,000,000 13,637,520 0.80

Standard Chartered Bank FRN EUR 03/02/2017 1,000,000 1,003,580 0.06

Standard Chartered Plc 3.625% EUR 15/12/2015 10,000,000 10,386,550 0.61

Standard Life Plc FRN EUR 12/07/2022 600,000 589,371 0.03

Suez Environnement Co 4.125% EUR 24/06/2022 5,000,000 5,431,675 0.32

Telecom Italia SpA 5.25% EUR 10/02/2022 10,000,000 10,434,650 0.62

Telefonica Emisiones SAU 4.375% EUR 02/02/2016 5,000,000 5,300,800 0.31


Telenor ASA 4.125% EUR 26/03/2020 3,000,000 3,276,105 0.19

TeliaSonera AB 4.75% EUR 16/11/2021 2,500,000 2,847,688 0.17

Telstra Corp Ltd 4.25% EUR 23/03/2020 8,000,000 8,741,200 0.51

TenneT Holding BV FRN EUR Perpetual 10,000,000 10,674,950 0.63

UBS AG FRN EUR Perpetual 1,000,000 822,500 0.05

UBS AG FRN EUR Perpetual 6,200,000 6,045,000 0.35

UBS Capital Securities Jersey Ltd FRN EUR Perpetual 11,850,000 12,205,500 0.72

UniCredit International Bank Luxembourg SA FRN EUR Perpetual 10,000,000 9,812,501 0.57

Unitymedia Hessen GmbH & Co KG 8.125% EUR 01/12/2017 10,000,000 10,279,950 0.60

Vale SA 4.375% EUR 24/03/2018 15,000,000 15,819,975 0.93

Veolia Environnement 4.247% EUR 06/01/2021 7,000,000 7,554,750 0.44

Vivendi SA 4% EUR 31/03/2017 7,000,000 7,358,785 0.43

Wal-Mart Stores Inc 4.875% EUR 21/09/2029 20,000,000 23,847,800 1.40

Wesfarmers Ltd 3.875% EUR 10/07/2015 10,000,000 10,584,300 0.62

Westpac Securities NZ Ltd 3.875% EUR 20/03/2017 9,000,000 9,409,320 0.55

Ziggo Bond Co BV 8% EUR 15/05/2018 3,000,000 3,060,000 0.18

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN TOTAL DES OBLIGATIONS TOTAL BONDSINSGESAMT COTÉE

1,488,173,364 87.50

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETAN EINER AMTLICHEN BÖRSE NOTIERTE ODER AUF ANDEREN GEREGELTEN MÄRKTEN GEHANDELTE ÜBERTRAGBARE WERTPAPIERE INSGESAMTTOTAL VALEURS MOBILIERES ADMISES A LA COTE OFFICIELLE OU NEGOCIEES SUR UN AUTRE MARCHE REGLEMENTETOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 1,488,173,364 87.50

OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENAlly Financial Inc 7% USD Perpetual 9 5,860 –


5,860 –




EUR %


75 Invesco Funds

TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/SUM ANDRE OMSETTELIGE VERDIPAPIRER 5,860 –

Total Gesamtanlagen Total des Sum investeringerInvestments investissements 1,488,179,224 87.50



regnskapet.




EUR %


76 Invesco Funds

Invesco Euro Inflation-Linked Bond Fund







BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSBundesobligation Inflation Linked 2.25% EUR 15/04/2013 4,580,000 5,221,198 6.32

Caisse d’Amortissement de la Dette Sociale Idx Lkd 1.85% EUR 25/07/2019 2,750,000 3,328,697 4.03

Caisse d’Amortissement de la Dette Sociale Idx Lkd 3.15% EUR 25/07/2013 2,730,000 3,602,419 4.36

Deutsche Bundesrepublik Inflation Linked 1.5% EUR 15/04/2016 6,790,000 7,919,300 9.58


France Government Bond OAT Idx Lkd 1.8% EUR 25/07/2040 5,090,000 6,447,610 7.80



Italy Buoni Poliennali Del Tesoro Idx Lkd 2.15% EUR 15/09/2014 2,630,000 3,121,954 3.78




Reseau Ferre de France Idx Lkd 2.45% EUR 28/02/2023 2,800,000 3,608,938 4.37

United Kingdom Gilt Inflation Linked 1.875% GBP 22/11/2022 1,880,000 2,860,280 3.46

Veolia Environnement Idx Lkd 1.75% EUR 17/06/2015 1,000,000 1,105,647 1.34






regnskapet.


EUR %


77 Invesco Funds






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAnglo American Capital Plc 9.375% USD 08/04/2014 200,000 156,516 0.23

Anheuser-Busch InBev Worldwide Inc 6.875% USD 15/11/2019 350,000 276,143 0.41

ArcelorMittal 9% USD 15/02/2015 450,000 349,592 0.52

Banco Santander Chile 2.875% USD 13/11/2012 250,000 164,370 0.24

Bank of America Corp 4.625% EUR 07/08/2017 500,000 420,835 0.63

Barclays Bank Plc 5.75% GBP 17/08/2021 500,000 549,739 0.82

BAT International Finance Plc 6% GBP 24/11/2034 200,000 224,272 0.33

BBVA International Preferred SA Unipersonal FRN GBP Perpetual 200,000 198,217 0.30

BPCE SA FRN EUR Perpetual 350,000 286,166 0.43

BSKYB Finance UK Plc 5.75% GBP 20/10/2017 400,000 454,151 0.68

Cloverie Plc for Zurich Insurance Co FRN EUR 24/07/2039 200,000 193,840 0.29

CNA Financial Corp 5.875% USD 15/08/2020 600,000 390,290 0.58

Compass Group Plc 7% GBP 08/12/2014 350,000 408,445 0.61

Credit Suisse Group Capital Guernsey III Ltd FRN GBP Perpetual 250,000 268,304 0.40

CRH Finance UK Plc 8.25% GBP 24/04/2015 350,000 409,182 0.61

Crown European Holdings SA 7.125% EUR 15/08/2018 150,000 126,712 0.19

DIRECTV Holdings LLC 7.625% USD 15/05/2016 450,000 321,115 0.48

DONG Energy A/S 5.75% GBP 09/04/2040 400,000 445,607 0.66

DSG International Plc 8.75% GBP 03/08/2015 50,000 49,535 0.07

EADS Finance BV 5.5% EUR 25/09/2018 500,000 468,405 0.70

EDF SA 6.25% GBP 30/05/2028 400,000 477,632 0.71

Erste Group Bank AG FRN EUR 19/07/2017 300,000 219,929 0.33

European Bank for Reconstruction & Development 5.625% GBP 07/12/2028 500,000 616,739 0.92

European Investment Bank 6% GBP 07/12/2028 1,350,000 1,739,235 2.59

Experian Finance Plc 4.75% EUR 04/02/2020 150,000 134,512 0.20

F Van Lanschot Bankiers NV 3.5% EUR 02/04/2013 600,000 497,855 0.74

G4S Plc 7.75% GBP 13/05/2019 500,000 590,891 0.88

GE Capital UK Funding 5.875% GBP 04/11/2020 650,000 719,760 1.07

GE Capital UK Funding 8% GBP 14/01/2039 250,000 347,995 0.52

Glencore Finance Europe SA 5.25% EUR 11/10/2013 400,000 339,088 0.51

Goldman Sachs Group Inc 5.375% USD 15/03/2020 600,000 401,396 0.60

HeidelbergCement Finance BV 7.625% EUR 25/01/2012 150,000 128,932 0.19

HSBC Bank Plc 4.125% USD 12/08/2020 280,000 183,680 0.27

HSBC Capital Funding LP FRN EUR Perpetual 250,000 192,248 0.29

HSBC Holdings Plc 7% GBP 07/04/2038 450,000 540,436 0.81

Infinis Plc 9.125% GBP 15/12/2014 75,000 77,903 0.12

Iron Mountain Inc 7.25% GBP 15/04/2014 200,000 199,500 0.30


Kreditanstalt für Wiederaufbau 5.5% GBP 07/12/2015 800,000 933,741 1.39

Kreditanstalt für Wiederaufbau 5.55% GBP 07/06/2021 1,600,000 1,938,771 2.89

Man Group Plc 5% USD 09/08/2017 400,000 216,484 0.32

Merrill Lynch & Co Inc 7.75% GBP 30/04/2018 500,000 584,668 0.86

MetLife Inc 5.25% GBP 29/06/2020 500,000 520,603 0.77

Morgan Stanley 5.125% GBP 30/11/2015 500,000 520,390 0.78

Motability Operations Group Plc 5.375% GBP 28/06/2022 400,000 433,455 0.65

National Grid Plc 6.125% GBP 15/04/2014 300,000 334,163 0.50

Nationwide Building Society 5.625% GBP 09/09/2019 700,000 738,599 1.09

Optus Finance Pty Ltd 4.625% USD 15/10/2019 400,000 272,767 0.41

Pipe Holdings Plc 7.75% GBP 01/11/2011 100,000 100,250 0.15

Polypore Inc 8.75% EUR 15/05/2012 550,000 454,221 0.68

QBE Insurance Group Ltd 6.125% GBP 28/09/2015 500,000 551,328 0.82

Rabobank Capital Funding Trust IV FRN GBP Perpetual 450,000 403,767 0.60

Royal Bank of Scotland Plc 4.875% USD 16/03/2015 380,000 256,651 0.38

Seat Pagine Gialle SpA 10.5% EUR 31/01/2017 175,000 135,138 0.20

Suncorp-Metway Ltd 5.125% GBP 27/10/2014 500,000 530,528 0.79

Telecom Italia SpA 6.375% GBP 24/06/2019 200,000 217,294 0.33

Temasek Financial I Ltd 4.625% GBP 26/07/2022 300,000 332,419 0.50

TMD Friction Finance SA 10.75% EUR 15/05/2017 90,000 73,955 0.11

United Kingdom Gilt 2.75% GBP 22/01/2015 2,500,000 2,621,000 3.91

Invesco UK Investment Grade Bond Fund



GBP %


78 Invesco Funds


United Kingdom Gilt 4% GBP 07/09/2016 2,150,000 2,388,865 3.56



United Kingdom Gilt 4.25% GBP 07/12/2055 600,000 660,120 0.98








TOTAL BONDS BÖRSENNOTIERTE TOTAL DES OBLIGATIONS TOTAL BONDSANLEIHEN COTÉEINSGESAMT

62,926,266 93.77


OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENRockwood Specialties Group Inc 7.625% EUR 15/11/2014 550,000 463,248 0.69Volkswagen International Finance NV 4% USD 12/08/2020 500,000 334,176 0.50

TOTAL BONDS BÖRSENNOTIERTE TOTAL DES OBLIGATIONS TOTAL BONDSANLEIHEN COTÉEINSGESAMT

797,424 1.19





regnskapet.




GBP %


79 Invesco Funds






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAfrican Development Bank 12.5% ZMK 22/12/2011 9,220,000,000 1,950,551 0.40

Argentina Bonos 10.5% ARS 12/06/2012 31,025,000 7,256,320 1.50

Barclays Bank Plc 10% IDR 17/02/2028 80,000,000,000 9,584,947 1.98

Brazil Notas do Tesouro Nacional Serie F 10% BRL 01/01/2011 4,641,000 2,672,595 0.55


Brazilian Government International Bond 12.5% BRL 05/01/2016 14,800,000 9,656,105 2.00


Centercredit 8.25% KZT 30/09/2011 294,000,000 2,034,602 0.42

Colombia Government International Bond 7.75% COP 14/04/2021 23,733,000,000 14,795,827 3.06

Colombia Government International Bond 12% COP 22/10/2015 13,650,000,000 9,830,868 2.03

Egypt Government International Bond 8.75% EGP 18/07/2012 19,500,000 3,433,071 0.71

Emirate of Dubai FRN AED 23/04/2013 3,500,000 850,529 0.18

European Bank for Reconstruction & Development 9.25% BRL 10/09/2012 9,000,000 5,203,041 1.07

European Investment Bank 11.25% BRL 14/02/2013 6,070,000 3,669,347 0.76

Hungary Government Bond 6.75% HUF 24/02/2017 1,300,000,000 5,534,036 1.14

Hungary Government Bond 8% HUF 12/02/2015 2,774,800,000 12,818,127 2.66

JPMorgan Chase 10.25% EUR 19/07/2027 5,001,380 5,264,953 1.09

Malaysia Government Bond 3.461% MYR 31/07/2013 22,500,000 7,212,930 1.49






Mexican Bonos 8% MXN 19/12/2013 86,000,000 7,055,442 1.46


Mexican Bonos 8.5% MXN 13/12/2018 180,000,000 15,743,471 3.26


Peru Government Bond 7.84% PEN 12/08/2020 17,000,000 7,098,547 1.47




Poland Government Bond 5% PLN 24/10/2013 41,500,000 13,187,334 2.73

Poland Government Bond 5.25% PLN 25/10/2017 21,650,000 6,849,719 1.42



Republic of Colombia 9.85% COP 28/06/2027 9,960,000,000 7,449,369 1.54

Russian Agricultural Bank OJSC Via RSHB Capital SA 7.5% RUB 25/03/2013 579,300,000 18,804,691 3.90

South Africa Government Bond 6.75% ZAR 31/03/2021 74,000,000 9,150,536 1.89



Thailand Government Bond 3.625% THB 22/05/2015 175,000,000 5,824,117 1.20


Turkey Government Bond 0% TRY 03/08/2011 3,500,000 2,134,073 0.44



Turkey Government Bond 10.5% TRY 15/01/2020 22,740,000 16,396,830 3.40




Uruguay Government International Bond 5% UYU 14/09/2018 92,390,000 6,687,354 1.38


416,017,639 86.03


Invesco Emerging Local Currencies Debt Fund



USD %


80 Invesco Funds

OTHER TRANSFERABLE SONSTIGE ÜBERTRAGBARE AUTRES VALEURS ANDRE OMSETTELIGESECURITIES WERTPAPIERE MOBILIERES VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENBarclays (Indonesia) 10.5% IDR 19/08/2030 57,500,000,000 7,076,923 1.46Barclays Bank Plc Cln FRN USD 17/10/2014 3,600,000 4,468,860 0.92ING Americas Issuance Bv 20% UAH 12/09/2012 30,000,000 4,285,421 0.89ING Bank NV 15% UAH 18/04/2011 20,000,000 2,510,142 0.52JPMorgan Chase Indonesian Government Linked Notes 9.5% IDR 18/07/2023 41,000,000,000 4,888,688 1.01JPMorgan Chase Indonesian Government Linked Notes 10% USD 17/09/2024 1,788,662 2,344,936 0.48JPMorgan Chase Indonesian Government Linked Notes 11% USD 17/09/2025 3,971,920 4,531,166 0.94Standard Chart Bank 19% USD 14/01/2013 2,249,538 2,156,632 0.45


32,262,768 6.67

TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/SUM ANDRE OMSETTELIGE VERDIPAPIRER 32,262,768 6.67




regnskapet.




USD %


81 Invesco Funds






BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAbertis Infraestructuras SA 4.625% EUR 14/10/2016 100,000 125,193 0.78

Advance Auto Parts Inc 5.75% USD 01/05/2020 150,000 161,325 1.00

Aetna Inc 3.95% USD 01/09/2020 150,000 148,346 0.92

Aflac Inc 6.9% USD 17/12/2039 50,000 55,175 0.34

America Movil SAB de CV 4.75% EUR 28/06/2022 100,000 138,262 0.87

American Tower Corp 4.625% USD 01/04/2015 100,000 106,309 0.66

Anheuser-Busch Cos Inc 5.6% USD 01/03/2017 100,000 113,535 0.71

ArcelorMittal 3.75% USD 05/08/2015 100,000 99,336 0.62

ArcelorMittal 8.25% EUR 03/06/2013 100,000 142,645 0.89

Areva SA 3.875% EUR 23/09/2016 100,000 135,099 0.84

AutoZone Inc 5.75% USD 15/01/2015 200,000 222,662 1.38

Avnet Inc 5.875% USD 15/06/2020 100,000 105,158 0.66



Bank of China Hong Kong Ltd 5.55% USD 11/02/2020 100,000 105,250 0.66

Barclays Bank Plc 5% USD 22/09/2016 100,000 108,368 0.68

Barclays Bank Plc 5.125% USD 08/01/2020 100,000 106,189 0.66


BG Energy Capital Plc 3.375% EUR 15/07/2013 100,000 132,441 0.83

BMW Finance NV 4% EUR 17/09/2014 50,000 67,692 0.42

BNP Paribas FRN EUR Perpetual 50,000 67,270 0.42

Boston Properties LP 5.875% USD 15/10/2019 50,000 55,702 0.35

Boston Scientific Corp 4.5% USD 15/01/2015 100,000 101,721 0.63


British Telecommunications Plc 6.5% EUR 07/07/2015 50,000 71,756 0.45

Casino Guichard Perrachon SA 4.481% EUR 12/11/2018 100,000 135,878 0.85

CBS Corp 5.75% USD 15/04/2020 200,000 221,558 1.38

Citigroup Inc 5.3% USD 17/10/2012 100,000 105,708 0.66


Citigroup Inc 7.375% EUR 04/09/2019 100,000 149,540 0.93


Comcast Corp 6.4% USD 01/03/2040 100,000 113,815 0.71

COX Communications Inc 5.45% USD 15/12/2014 200,000 225,020 1.40

Credit Suisse 4.375% USD 05/08/2020 250,000 251,288 1.56


CVS Caremark Corp 6.125% USD 15/08/2016 100,000 117,496 0.73

Danske Bank A/S FRN EUR 18/08/2014 100,000 129,235 0.81

Discovery Communications LLC 6.35% USD 01/06/2040 150,000 168,433 1.05


Elsevier Finance SA Via ELM BV 6.5% EUR 02/04/2013 100,000 141,176 0.88

Empresa Nacional del Petroleo 5.25% USD 10/08/2020 150,000 154,325 0.96

Enbw International Finance BV 5.875% EUR 28/02/2012 100,000 135,023 0.85

Enel Finance International SA 5.75% GBP 14/09/2040 75,000 122,138 0.76

Enterprise Products Operating LLC 6.45% USD 01/09/2040 100,000 111,420 0.69


Expedia Inc 5.95% USD 15/08/2020 150,000 153,938 0.96



France Telecom SA 5.25% EUR 22/05/2014 100,000 141,797 0.88

G4S Plc 7.75% GBP 13/05/2019 50,000 91,192 0.57

GDF Suez 6.375% EUR 18/01/2021 50,000 81,741 0.51

General Electric Capital Corp 2.8% USD 08/01/2013 150,000 154,237 0.96


General Electric Capital Corp 6% USD 07/08/2019 50,000 56,211 0.35

General Electric Co 5.25% USD 06/12/2017 80,000 89,918 0.56

Genworth Financial Inc 7.7% USD 15/06/2020 50,000 51,827 0.32




Grupo Bimbo SAB de CV 4.875% USD 30/06/2020 100,000 104,291 0.65

Invesco Global Investment Grade Corporate Bond Fund



USD %


82 Invesco Funds




USD %

Healthcare Realty Trust Inc 6.5% USD 17/01/2017 50,000 53,975 0.34

Holcim US Finance Sarl & Cie SCS 6% USD 30/12/2019 100,000 107,548 0.67


Hutchison Whampoa International Ltd 4.625% USD 11/09/2015 100,000 105,270 0.66

Imperial Tobacco Finance Plc 8.375% EUR 17/02/2016 100,000 160,713 1.01

International Paper Co 7.5% USD 15/08/2021 100,000 119,343 0.74

JPMorgan Chase & Co 4.65% USD 01/06/2014 150,000 163,122 1.02


JPMorgan Chase & Co FRN USD Perpetual 50,000 52,717 0.33

Kroger Co 5% USD 15/04/2013 100,000 108,277 0.67

Lloyds TSB Bank Plc 6.5% EUR 24/03/2020 100,000 131,775 0.82

Macquarie Group Ltd 4.875% USD 10/08/2017 150,000 151,287 0.94

Man Group Plc 5% USD 09/08/2017 100,000 83,525 0.52

Marsh & McLennan Cos Inc 5.375% USD 15/07/2014 100,000 107,038 0.67

Massachusetts Electric Co 5.9% USD 15/11/2039 100,000 116,596 0.73

Merrill Lynch & Co Inc 6.11% USD 29/01/2037 100,000 98,842 0.62

MetLife Inc 2.375% USD 06/02/2014 100,000 100,372 0.63

MetLife Inc 6.75% USD 01/06/2016 150,000 177,869 1.10

Moody’s Corp 5.5% USD 01/09/2020 100,000 101,634 0.63




National Rural Utilities Cooperative Finance Corp 10.375% USD 01/11/2018 100,000 143,413 0.89


Newmont Mining Corp 6.25% USD 01/10/2039 150,000 170,800 1.07


OTE Plc 3.75% EUR 11/11/2011 50,000 62,795 0.39

Pacific Gas & Electric Co 5.8% USD 01/03/2037 150,000 171,547 1.07

Petrobras International Finance Co 6.875% USD 20/01/2040 100,000 111,140 0.69

Petroleos Mexicanos 4.875% USD 15/03/2015 50,000 53,625 0.33

PNC Funding Corp 4.375% USD 11/08/2020 150,000 152,180 0.95

Prudential Financial Inc 2.75% USD 14/01/2013 200,000 203,053 1.26

Qatari Diar Finance QSC 3.5% USD 21/07/2015 100,000 101,950 0.64


Royal Bank of Scotland Plc 6.934% EUR 09/04/2018 100,000 136,638 0.85

Russian Foreign Bond - Eurobond 3.625% USD 29/04/2015 100,000 99,535 0.62

RWE Finance BV 6.125% EUR 26/10/2012 50,000 69,453 0.43

Safeway Inc 3.95% USD 15/08/2020 150,000 152,655 0.96

Santander Issuances S.A Unipersonal FRN GBP 27/07/2019 50,000 83,027 0.52

Schwab Capital Trust I FRN USD 15/11/2037 100,000 101,427 0.63

Shell International Finance BV 3% EUR 14/05/2013 50,000 66,081 0.41

Societe Generale FRN EUR Perpetual 50,000 50,738 0.32

Spectra Energy Capital LLC 5.668% USD 15/08/2014 150,000 166,913 1.05

Staples Inc 7.75% USD 01/04/2011 100,000 103,814 0.65

State Street Capital Trust III FRN USD Perpetual 60,000 61,475 0.38



Tesco Plc 5.625% EUR 12/09/2012 100,000 137,040 0.85

Time Warner Cable Inc 6.75% USD 15/06/2039 50,000 58,304 0.36

UBS AG 2.25% USD 12/08/2013 250,000 251,202 1.57

UniCredit Bank AG 6% EUR 05/02/2014 100,000 136,812 0.85

Union Pacific Corp 4% USD 01/02/2021 150,000 156,397 0.97

USB Capital XIII Trust 6.625% USD 15/12/2039 70,000 76,663 0.48

Vattenfall AB 5.25% EUR 17/03/2016 100,000 145,877 0.91

Veolia Environnement 4% EUR 12/02/2016 100,000 136,662 0.85

Wal-Mart Stores Inc 5.625% USD 01/04/2040 100,000 114,962 0.72

WellPoint Inc 5.8% USD 15/08/2040 100,000 106,134 0.66

Wells Fargo & Co 3.625% USD 15/04/2015 200,000 209,521 1.30


Westpac Banking Corp 2.1% USD 02/08/2013 150,000 151,319 0.94

Xerox Corp 4.25% USD 15/02/2015 50,000 53,189 0.33

Xerox Corp 6.875% USD 15/08/2011 100,000 105,040 0.66


14,661,936 91.36


83 Invesco Funds


OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENAflac Inc 3.45% USD 15/08/2015 150,000 154,048 0.96Continental Airlines 2009-2 Class A Pass Through Trust 7.25% USD 10/11/2019 50,000 54,500 0.34DCP Midstream LLC 8.125% USD 16/08/2030 100,000 127,512 0.79Digital Realty Trust LP 5.875% USD 01/02/2020 100,000 106,041 0.66Life Technologies Corp 3.375% USD 01/03/2013 100,000 102,899 0.64Municipal Elec Auth Ga 6.637% USD 01/04/2057 100,000 105,402 0.66Sara Lee Corp 4.1% USD 15/09/2020 145,000 145,937 0.91


796,339 4.96

TOTAL OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/SUM ANDRE OMSETTELIGE VERDIPAPIRER 796,339 4.96




regnskapet.




USD %


Invesco Global Unconstrained Bond Fund








AES Corp 8.375% GBP 01/03/2011 100,000 101,500 4.39

Anglo American Capital Plc 5.125% GBP 15/12/2010 100,000 100,800 4.36

ASIF III Jersey Ltd FRN ITL 09/04/2018 100,000,000 46,259 2.00

Avis Finance Co Plc FRN EUR 31/07/2013 50,000 38,621 1.67

Barclays Bank Plc FRN GBP Perpetual 50,000 64,819 2.80

Bundesobligation 3.5% EUR 08/04/2011 250,000 209,160 9.04

Cognis GmbH FRN EUR 15/09/2013 100,000 81,683 3.53

Hanson Ltd 7.875% USD 27/09/2010 100,000 64,796 2.80

ING Groep NV 8% EUR Perpetual 50,000 40,873 1.77

Instituto de Credito Oficial 5% USD 23/02/2011 100,000 65,630 2.84

Iron Mountain Inc 6.75% EUR 15/10/2018 50,000 40,059 1.73

Italy Buoni Poliennali Del Tesoro 2% EUR 01/06/2013 400,000 327,746 14.17

LBG Capital No.1 Plc 11.04% GBP 19/03/2020 150,000 161,429 6.97

National Westminster Bank Plc 11.5% GBP Perpetual 100,000 114,005 4.92

Northern Rock Asset Management Plc FRN USD 21/10/2010 100,000 64,447 2.79

Old Mutual Capital Funding LP 8% USD Perpetual 150,000 94,935 4.10

Pearl Group Holdings Ltd No 1 FRN GBP Perpetual 42,500 27,908 1.21

Santander UK Plc 6.25% GBP 27/09/2010 100,000 100,350 4.34

SLM Corp FRN EUR 26/04/2011 100,000 79,502 3.44

SMFG Preferred Capital FRN GBP Perpetual 50,000 56,718 2.45


Virgin Media Secured Finance Plc 7% GBP 15/01/2018 50,000 52,000 2.25

Xenon Capital Plc FRN CHF 20/12/2011 100,000 56,008 2.42


2,028,916 87.70





regnskapet.


GBP %

84 Invesco Funds


85 Invesco Funds

Invesco Capital Shield 90 (EUR) Fund








Alliance and Leicester FRN EUR Perpetual 10,000,000 10,000,000 3.81


10,000,000 3.81

STRUCTURED PRODUCTS STRUKTURIERTE PRODUITS STRUCTURÉS STRUKTURERTE PRODUKTERPRODUKTE

ETFS Agriculture DJ-UBSCI 1,381,448 7,354,296 2.80

Gold Bullion Securities Ltd 119,237 11,323,642 4.32

iPath Dow Jones-UBS Copper Subindex Total Return ETN 194,741 7,022,326 2.67

UBS ETC WTI Crude Oil - USD 4,089 3,606,413 1.37

TOTAL STRUCTURED STRUKTURIERTE TOTAL PRODUITS SAMLEDE STRUKTURERTE PRODUKTERPRODUCTS PRODUKTE INSGESAMT STRUCTURÉS

29,306,677 11.16


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/ZUGELASSENEGELDMARKTINSTRUMENTE GEM. ARTIKEL 41.1H DES GESETZES VOM 20. DEZEMBER 2002/INSTRUMENTS DU MARCHÉMONÉTAIRE ADMISSIBLES AU SENS DE L’ARTICLE 41.1H DE LA LOI DU 20 DÉCEMBRE 2002/PENGEMARKEDSINSTRUMENTERSOM KAN ANVENDES I HENHOLD TIL ARTIKKEL 41.1H I LOV AV 20. DESEMBER 2002Bank of Western Australia C/P EUR 15/09/2010 10,000,000 9,998,112 3.81Cancara Asset Securitisation C/P EUR 27/09/2010 10,000,000 9,996,052 3.81Fortis Bank C/D EUR 01/09/2010 10,000,000 9,999,865 3.81Fortis Bank C/D EUR 04/01/2011 14,000,000 13,969,200 5.32Grampian Funding C/P EUR 29/10/2010 10,000,000 9,989,419 3.80Lexington Parker Capital C/P EUR 07/09/2010 10,000,000 9,999,273 3.81LMA C/P EUR 20/09/2010 7,500,000 7,497,978 2.86Mont Blanc Capital C/P EUR 08/09/2010 8,000,000 7,999,301 3.05Nordea Bank C/P EUR 08/10/2010 7,500,000 7,495,456 2.85Societe Generale C/P EUR 06/09/2010 10,000,000 9,999,413 3.80


96,944,069 36.92

OPEN-ENDED OFFENE FONDS À CAPITAL OPEN-END FONDFUNDS INVESTMENTFONDS VARIABLEShort-Term Investments Co Global Series - Euro Liquidity Portfolio 25,000,000 25,000,000 9.52

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-END FONDINSGESAMT CAPITAL VARIABLE 25,000,000 9.52




regnskapet.


EUR %


86 Invesco Funds

Invesco Asia Balanced Fund







EQUITIES AKTIEN ACTIONS AKSJERAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAAdelaide Brighton Ltd 1,168,643 3,407,471 1.05

AMP Ltd 651,400 2,920,023 0.91

ASX Ltd 117,500 3,047,838 0.94

Crane Group Ltd 428,329 3,062,189 0.95

GUD Holdings Ltd 384,740 3,305,474 1.03

Healthscope Ltd 724,000 3,967,396 1.24

Metcash Ltd 776,100 3,029,886 0.94


QBE Insurance Group Ltd 191,934 2,818,664 0.88

Sonic Healthcare Ltd 328,843 3,230,725 1.00

Spotless Group Ltd 1,466,078 2,636,620 0.82

Telstra Corp Ltd 1,064,087 2,609,984 0.81

UGL Ltd 249,543 3,202,573 1.00


44,002,236 13.68

CHINA CHINA CHINE KINADalian Port PDA Co Ltd 7,038,000 2,767,934 0.86



8,714,312 2.71

MALAYSIA MALAYSIA MALAISIE MALAYSIALafarge Malayan Cement Bhd 910,000 2,108,156 0.66

Petronas Gas Bhd 949,000 3,172,259 0.98

PLUS Expressways Bhd 2,746,500 3,662,705 1.14


11,993,265 3.73

NEW ZEALAND NEUSEELAND NOUVELLE-ZÉLANDE NUEVA ZELANDASky City Entertainment Group Ltd 1,452,461 2,923,495 0.91

PAKISTAN PAKISTAN PAKISTAN PAKISTANNational Bank Of Pakistan 1,850,000 1,389,286 0.43

Oil & Gas Development Co Ltd 1,875,514 3,157,864 0.98

Pakistan Oilfields Ltd 1,173,521 3,086,930 0.96

Pakistan Petroleum Ltd 893,755 2,177,070 0.68

9,811,150 3.05

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEGlobe Telecom Inc 157,280 2,747,892 0.85


5,826,048 1.81

SINGAPORE SINGAPUR SINGAPOUR SINGAPORESATS Ltd 1,458,000 2,983,190 0.93

Singapore Telecommunications Ltd 1,305,000 2,949,181 0.92

StarHub Ltd 1,757,000 3,180,413 0.98

9,112,784 2.83

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREAHyundai Home Shopping Network Corp 13,635 1,023,563 0.32

Kangwon Land Inc 198,540 3,626,680 1.13

4,650,243 1.45


USD %


87 Invesco Funds



TAIWAN TAIWAN TAIWAN TAIWANAltek Corp 2,072,000 3,054,575 0.95

Asia Cement Corp 3,281,023 2,947,227 0.92

Cheng Uei Precision Industry Co Ltd 1,766,490 2,856,472 0.89

China Steel Chemical Corp 974,000 3,037,480 0.94


Cyberlink Corp 697,000 2,757,844 0.86

Eternal Chemical Co Ltd 3,062,724 2,987,768 0.93

Greatek Electronics Inc 2,958,842 2,717,861 0.85

HTC Corp 195,300 3,563,493 1.10

Inventec Appliances Corp 3,946,750 2,818,316 0.88

LCY Chemical Corp 1,689,000 3,276,875 1.02

MediaTek Inc 208,415 2,838,268 0.88

Silitech Technology Corp 1,078,680 2,990,161 0.93




U-Ming Marine Transport Corp 1,521,000 2,934,315 0.91

50,666,161 15.76

THAILAND THAILAND THAILANDE THAILANDAdvanced Info Service PCL 1,076,200 3,195,397 0.99

Bangkok Expressway PCL 5,364,500 3,232,761 1.01

BEC World PCL 3,549,600 3,532,009 1.10

Delta Electronics Thai PCL 4,220,100 3,861,902 1.20

Electricity Generating PCL NVDR 54,900 163,884 0.05

Electricity Generating PCL 1,027,300 3,021,469 0.94

Glow Energy PCL 2,536,200 3,618,218 1.12

Hana Microelectronics PCL 3,813,300 3,215,337 1.00

Kiatnakin Bank PCL 3,458,500 3,469,002 1.08

Ratchaburi Electricity Generating Holding PCL 2,597,700 3,207,676 1.00

30,517,655 9.49

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIATanjong Plc 528,800 3,590,888 1.12


BONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSAUSTRALIA AUSTRALIEN AUSTRALIE AUSTRALIAMacquarie Group Ltd 7.3% USD 01/08/2014 2,000,000 2,246,921 0.70

National Capital Trust II FRN USD Perpetual 1,000,000 925,000 0.29

PTTEP Australia International Finance Proprietary Ltd 4.152% USD 19/07/2015 500,000 509,575 0.16

Rio Tinto Finance USA Ltd 8.95% USD 01/05/2014 1,000,000 1,225,645 0.38

4,907,141 1.53

BERMUDA BERMUDAS BERMUDES BERMUDALi & Fung Ltd 5.25% USD 13/05/2020 2,750,000 2,941,991 0.91

Noble Group Ltd 6.75% USD 29/01/2020 3,000,000 3,170,532 0.99

6,112,523 1.90

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEAgile Property Holdings Ltd 10% USD 14/11/2016 1,000,000 1,052,500 0.33

Country Garden Holdings Co 11.25% USD 22/04/2017 500,000 501,250 0.16

Hutchison Whampoa Finance Ltd 7.45% USD 01/08/2017 1,000,000 1,215,015 0.38

Hutchison Whampoa International Ltd 4.625% USD 11/09/2015 1,500,000 1,579,049 0.49




Parkson Retail Group Ltd 7.125% USD 30/05/2012 2,000,000 2,072,706 0.65


Shimao Property Holdings Ltd 9.65% USD 03/08/2017 500,000 497,500 0.15

Swire Pacific MTN Financing Ltd 5.5% USD 19/08/2019 1,000,000 1,107,690 0.34

15,866,749 4.93


USD %


88 Invesco Funds



HONG KONG HONG KONG HONG KONG HONG KONGBank of China Hong Kong Ltd 5.55% USD 11/02/2020 2,500,000 2,631,238 0.81Bank of East Asia Ltd FRN USD 22/06/2017 2,000,000 1,905,972 0.59Bank of East Asia Ltd FRN USD 13/12/2015 1,750,000 1,757,613 0.55Bank of East Asia Ltd FRN USD Perpetual 1,000,000 1,077,420 0.34Dah Sing Bank Inc FRN USD 03/06/2016 2,000,000 1,948,381 0.60Dah Sing Bank Inc FRN USD 18/08/2017 1,000,000 1,022,155 0.32Standard Chartered Bank Hong Kong Ltd 5.875% USD 24/06/2020 500,000 540,518 0.17

10,883,297 3.38

INDIA INDIEN INDE INDIAICICI Bank Ltd FRN USD Perpetual 3,000,000 2,917,152 0.91State Bank of India 4.5% USD 23/10/2014 1,000,000 1,034,500 0.32

3,951,652 1.23

INDONESIA INDONESIEN INDONÉSIE INDONESIABumi Capital Pte Ltd 12% USD 10/11/2016 1,000,000 1,042,867 0.32Indonesia Government Interantional Bond 8.5% USD 12/10/2035 3,500,000 5,149,375 1.59Indonesia Government Interantional Bond 10.375% USD 04/05/2014 2,000,000 2,526,300 0.79Indonesia Government Interantional Bond 11.625% USD 04/03/2009 4,000,000 6,130,000 1.90

14,848,542 4.60

MALAYSIA MALAYSIA MALAISIE MALAYSIAAxiata SPV1 Labuan Ltd 5.375% USD 28/04/2020 500,000 547,408 0.17Malaysia Government International Bond 7.5% USD 15/07/2011 545,000 576,267 0.18Petronas Capital Ltd 7.875% USD 22/05/2022 2,000,000 2,729,048 0.85Public Bank Bhd FRN USD 20/06/2017 1,000,000 1,036,118 0.32TM Global Inc 8% USD 07/12/2010 300,000 305,126 0.09

5,193,967 1.61

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDIndosat Palapa Co BV 7.375% USD 29/07/2020 500,000 542,500 0.17Majapahit Holding BV 7.25% USD 28/06/2017 1,000,000 1,159,728 0.36Majapahit Holding BV 7.75% USD 20/01/2020 1,000,000 1,207,500 0.38Majapahit Holding BV 8% USD 07/08/2019 1,250,000 1,531,250 0.47

4,440,978 1.38

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEAsian Development Bank 3.375% USD 22/09/2010 1,000,000 1,002,020 0.31Philippine Government International Bond 6.375% USD 23/10/2034 500,000 590,688 0.18Philippine Government International Bond 6.5% USD 20/01/2020 1,500,000 1,778,438 0.55Philippine Government International Bond 8.375% USD 15/02/2011 1,000,000 1,032,642 0.32Philippine Government International Bond 9.875% USD 15/01/2019 2,000,000 2,864,357 0.89Philippine Government International Bond 10.625% USD 16/03/2025 3,000,000 4,844,999 1.52

12,113,144 3.77

SINGAPORE SINGAPUR SINGAPOUR SINGAPOREDBS Bank Ltd FRN USD 16/05/2017 2,000,000 2,073,541 0.64Prime Dig Pte Ltd 11.75% USD 03/11/2014 1,000,000 1,050,000 0.33United Overseas Bank Ltd FRN USD 03/09/2019 1,000,000 1,078,317 0.34

4,201,858 1.31

SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREAExport-Import Bank of Korea 5.875% USD 14/01/2015 1,000,000 1,120,548 0.35Kookmin Bank 7.25% USD 14/05/2014 2,000,000 2,305,523 0.72Korea Development Bank 4.375% USD 10/08/2015 1,000,000 1,054,774 0.33Korea Development Bank 5.3% USD 17/01/2013 1,000,000 1,062,257 0.33Korea East-West Power Co Ltd 4.875% USD 21/04/2011 1,000,000 1,017,849 0.32Korea Hydro & Nuclear Power Co Ltd 6.25% USD 17/06/2014 1,000,000 1,126,351 0.36Korea National Oil Corp 5.375% USD 30/07/2014 2,000,000 2,168,696 0.67Korea South-East Power Co Ltd 6% USD 25/05/2016 1,000,000 1,106,878 0.34Korea Southern Power Co Ltd 5.375% USD 18/04/2013 500,000 530,485 0.16KT Corp 5.125% USD 11/04/2012 2,000,000 2,082,148 0.65National Agricultural Cooperative Federation 5% USD 30/09/2014 500,000 533,666 0.17POSCO 8.75% USD 26/03/2014 3,000,000 3,623,019 1.13Republic of Korea 4.875% USD 22/09/2014 1,000,000 1,093,928 0.34Republic of Korea 7.125% USD 16/04/2019 2,500,000 3,196,182 1.00Shinhan Bank 6% USD 29/06/2012 2,500,000 2,661,402 0.82


USD %


89 Invesco Funds



SOUTH KOREA SÜDKOREA COREIA DO SUL ETELÄ-KOREA(CONTINUED) (FORTSETZUNG) (SUITE) (FORTSETTELSE)Shinhan Bank FRN USD 20/09/2036 1,000,000 988,730 0.31Woori Bank 4.75% USD 20/01/2016 500,000 512,395 0.16Woori Bank 7% USD 02/02/2015 200,000 222,880 0.07Woori Bank 7.63% USD 14/04/2015 1,000,000 1,107,295 0.34

27,515,006 8.57

THAILAND THAILAND THAILANDE THAILANDPTT PCL 5.875% USD 03/08/2035 500,000 528,626 0.16

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIACNOOC Finance 2003 Ltd 5.5% USD 21/05/2033 1,950,000 2,170,671 0.68

Standard Chartered Bank FRN USD Perpetual 2,300,000 2,613,950 0.81

4,784,621 1.49

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAUnited States Treasury Note/Bond 4.5% USD 15/08/2039 2,000,000 2,341,250 0.73



OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE OBLIGATIONS COTÉES BONDS

ANLEIHENMALAYSIA MALAYSIA MALAISIE MALAYSIATenaga Nasional Bhd 7.5% USD 01/11/2025 500,000 670,496 0.21

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEPhilippine Long Distance Telephone 11.375% USD 15/05/2012 1,000,000 1,170,000 0.37

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAUnited States of America Treasury Bonds 2.25% USD 31/05/2014 2,000,000 2,093,828 0.65Westpac Capital Trust III FRN USD Perpetual 1,500,000 1,465,650 0.46

3,559,478 1.11


TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES /SUM ANDRE OMSETTELIGE VERDIPAPIRER 5,399,974 1.69




regnskapet.


USD %


90 Invesco Funds

Invesco Pan European High Income Fund







EQUITIES AKTIEN ACTIONS AKSJERFINLAND FINNLAND FINLANDE FINLANDUPM-Kymmene OYJ 16,000 170,800 0.54

FRANCE FRANKREICH FRANCE FRANKRIKECie Générale des Etablissements Michelin 1,816 105,210 0.33

Rhodia SA 8,333 122,620 0.39

Safran SA 7,236 137,701 0.43

365,531 1.15

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDBilfinger Berger AG 2,125 98,467 0.31

GREECE GRIECHENLAND GRECE HELLASPublic Power Corp SA 4,655 53,044 0.17

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDASML Holding NV 5,000 98,188 0.31

European Aeronautic Defence and Space Co NV 6,988 119,494 0.37

ING Groep NV 12,142 82,645 0.26

SBM Offshore NV 6,566 77,791 0.25

378,118 1.19

NORWAY NORWEGEN NORVEGE NORGEStorebrand ASA 23,000 89,292 0.28

PORTUGAL PORTUGAL PORTUGAL PORTUGALPortucel Empresa Produtora de Pasta e Papel SA 61,600 134,812 0.42


Grupo Empresarial Ence SA 42,000 92,505 0.29

Iberia Lineas Aereas de Espana SA 40,000 101,760 0.32

Obrascon Huarte Lain SA 8,046 156,534 0.50

Telefonica SA 8,309 143,123 0.45

628,685 1.98

SWEDEN SCHWEDEN SUEDE SVERIGEAssa Abloy AB 5,531 86,275 0.27

SWITZERLAND SCHWEIZ SUISSE SVEITSNovartis AG 4,554 188,442 0.59


379,913 1.20

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAG4S Plc 37,660 114,341 0.36



BERMUDA BERMUDAS BERMUDES BERMUDAPetroplus Finance Ltd 9.375% USD 15/09/2019 300,000 215,271 0.68


EUR %




CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENESMFG Preferred Capital FRN GBP Perpetual 450,000 621,211 1.95

UPCB Finance Ltd 7.625% EUR 15/01/2020 400,000 408,000 1.29

1,029,211 3.24

FRANCE FRANKREICH FRANCE FRANKRIKEAXA SA FRN GBP Perpetual 100,000 106,009 0.33

BNP Paribas FRN GBP Perpetual 100,000 105,584 0.33



BPCE SA 13% USD Perpetual 154,500 136,979 0.43

Cie Generale de Geophysique-Veritas 7.75% USD 15/05/2017 50,000 39,230 0.12


Credit Agricole SA FRN EUR Perpetual 200,000 204,393 0.64

Credit Agricole SA 9.75% USD Perpetual 100,000 85,556 0.27

Korreden SA FRN EUR 01/08/2014 26,667 11,600 0.04

Rhodia SA 7% EUR 15/05/2018 200,000 205,250 0.65


Societe Generale FRN GBP Perpetual 100,000 123,308 0.39


SPCM SA 8.25% EUR 15/06/2017 250,000 251,563 0.79

2,044,286 6.44

GERMANY DEUTSCHLAND ALLEMAGNE TYSKLANDIKB Deutsche Industriebank AG FRN EUR 23/09/2010 50,000 49,963 0.16


Unitymedia GmbH 9.625% EUR 01/12/2019 300,000 317,602 1.00

Unitymedia Hessen GmbH & Co KG 8.125% EUR 01/12/2017 300,000 308,398 0.97

728,324 2.29

IRELAND IRLAND IRLANDE IRLANDAllied Irish Banks Plc 12.5% EUR 25/06/2019 67,000 69,652 0.22

Allied Irish Banks Plc 12.5% GBP 25/06/2019 50,000 63,300 0.20

Smurfit Kappa Acquisitions 7.75% EUR 15/11/2019 300,000 309,100 0.97

Smurfit Kappa Funding Plc 7.75% EUR 01/04/2015 250,000 254,059 0.80

696,111 2.19

ITALY ITALIEN ITALIE ITALIALottomatica SpA FRN EUR 31/03/2066 200,000 199,000 0.63

LUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGAngel Lux Common SA FRN EUR 01/05/2016 237,521 238,484 0.75

Cirsa Funding Luxembourg SA 8.75% EUR 15/05/2018 200,000 191,000 0.60

Codere Finance Luxembourg SA 8.25% EUR 15/06/2015 100,000 95,875 0.30

Expro Finance Luxembourg SCA 8.5% USD 15/12/2016 500,000 370,613 1.17

Wind Acquisition Finance SA 11.75% EUR 15/07/2017 400,000 436,999 1.37

1,332,971 4.19

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDABN Amro Bank NV FRN GBP Perpetual 300,000 265,645 0.84


IFCO Systems NV 10% EUR 30/06/2016 300,000 338,000 1.07


Intergen NV 8.5% EUR 30/06/2017 200,000 207,500 0.65

Nielsen Co BV 0% EUR 01/08/2016 200,000 196,833 0.62

Pfleiderer Finance BV 7.125% EUR Perpetual 200,000 98,167 0.31

UPC Holding BV 9.75% EUR 15/04/2018 150,000 158,610 0.50

1,974,381 6.22


EUR %

91 Invesco Funds


92 Invesco Funds



SPAIN SPANIEN ESPAGNE SPANIAAbengoa SA 8.5% EUR 31/03/2016 100,000 95,174 0.30


Campofrio Food Group SA 8.25% EUR 31/10/2016 400,000 405,502 1.28

Santander Finance Preferred SA Unipersonal FRN GBP Perpetual 700,000 922,660 2.90

1,543,946 4.86

SWITZERLAND SCHWEIZ SUISSE SVEITSUBS AG FRN EUR Perpetual 100,000 82,250 0.26

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAAvis Finance Co Plc FRN EUR 31/07/2013 200,000 188,000 0.59

Aviva Plc FRN EUR Perpetual 50,000 39,526 0.12

Aviva Plc FRN GBP Perpetual 50,000 48,743 0.15

Barclays Bank Plc 10% GBP 21/05/2021 80,000 129,935 0.41


C10-EUR Capital SPV Ltd FRN EUR Perpetual 150,000 90,000 0.28

Care UK Health & Social Care Plc 9.75% GBP 01/08/2017 250,000 309,166 0.97

Cattles Plc 7.125% GBP 05/07/2017 100,000 11,561 0.04

Clerical Medical Finance Plc FRN GBP Perpetual 100,000 100,399 0.32

Co-Operative Bank Plc FRN GBP Perpetual 100,000 95,531 0.30

Eco-Bat Finance Plc 10.125% EUR 31/01/2013 109,500 111,231 0.36

Friends Provident Group Plc 12% GBP 21/05/2021 53,000 83,129 0.26


Ineos Finance Plc 9.25% EUR 15/05/2015 200,000 205,141 0.65

Ineos Group Holdings Plc 7.875% EUR 15/02/2016 400,000 305,250 0.96

Investec Tier I FRN EUR Perpetual 50,000 41,188 0.13

ISS Financing Plc 11% EUR 15/06/2014 200,000 220,708 0.70



LBG Capital No.2 Plc 6.385% EUR 12/05/2020 200,000 166,125 0.52




Legal & General Group Plc FRN GBP Perpetual 50,000 50,933 0.16

Legal & General Group Plc FRN GBP 23/07/2041 200,000 309,650 0.98

Lloyds TSB Bank Plc 13% GBP Perpetual 200,000 277,466 0.87

Nationwide Building Society FRN GBP Perpetual 100,000 119,559 0.38

Northern Rock Asset Management Plc 9.375% GBP 17/10/2021 350,000 349,265 1.11



Peel Land & Property Investments Plc 8.375% GBP 30/04/2040 100,000 131,284 0.41


Prudential Plc 6.5% USD Perpetual 75,000 52,709 0.17

Rexam Plc FRN EUR 29/06/2067 100,000 96,760 0.30


Royal Bank of Scotland Plc FRN EUR 23/02/2045 300,000 220,500 0.69

RSA Insurance Group Plc FRN GBP Perpetual 50,000 63,933 0.20

Standard Chartered Bank FRN USD Perpetual 200,000 179,235 0.56


Taylor Wimpey Plc FRN GBP 03/07/2012 162,149 200,287 0.63

Thomas Cook Group Plc 6.75% EUR 22/06/2015 400,000 385,980 1.22

UBS Capital Securities Jersey Ltd FRN EUR Perpetual 400,000 412,000 1.30

Vedanta Resources Plc 8.75% USD 15/01/2014 100,000 82,698 0.26

Virgin Media Finance Plc 8.875% GBP 15/10/2019 200,000 268,045 0.84

Virgin Media Finance Plc 9.5% EUR 15/08/2016 200,000 226,333 0.71


Yorkshire Building Society FRN GBP Perpetual 50,000 40,615 0.13

8,401,493 26.48


EUR %


93 Invesco Funds



UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAmerican International Group Inc FRN EUR 15/03/2067 300,000 184,188 0.58


American International Group Inc FRN USD 15/05/2058 250,000 171,507 0.54

Chesapeake Corp 7% EUR 15/12/2014 100,000 5,500 0.02

Deutsche Bank Capital Funding Trust XI 9.5% EUR Perpetual 500,000 546,734 1.72

Ford Motor Co 7.45% USD 16/07/2031 100,000 77,277 0.24

Fresenius US Finance II Inc 8.75% EUR 15/07/2015 100,000 117,464 0.37

General Electric Capital Corp FRN EUR 15/09/2067 107,000 90,795 0.29

General Electric Capital Corp FRN GBP 15/09/2067 100,000 111,631 0.35

Hertz Corp 7.875% EUR 01/01/2014 50,000 50,500 0.16

Levi Strauss & Co 7.75% EUR 15/05/2018 200,000 196,000 0.62

Motors Liquidation Co 8.375% EUR 05/07/2033 1,500,000 510,000 1.60

RBS Capital Trust D 5.646% GBP Perpetual 100,000 72,409 0.23

Reynolds Group Issuer Inc 9.5% EUR 15/06/2017 200,000 191,286 0.60

TRW Automotive Inc 6.375% EUR 15/03/2014 100,000 100,500 0.32

2,552,166 8.04



OTHER TRANSFERABLE SECURITIES/ SONSTIGE ÜBERTRAGBARE WERTPAPIERE/AUTRES VALEURS MOBILIERES/ANDRE OMSETTELIGE VERDIPAPIRERBONDS BÖRSENNOTIERTE ANLEIHEN OBLIGATIONS COTÉES BONDSLUXEMBOURG LUXEMBURG LUXEMBOURG LUXEMBURGM&G Finance Luxembourg SA FRN EUR Perpetual 100,000 17,500 0.06

NETHERLANDS NIEDERLANDE PAYS-BAS NEDERLANDBoats Investments BV 11% EUR 31/03/2017 138,364 111,729 0.35Hollandwide Parent BV 0% EUR 01/08/2014 73,000 2,190 0.01

113,919 0.36

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAFirst Hydro Finance 9% GBP 31/07/2021 100,000 147,263 0.46

UNITED STATES VEREINIGTE STAATEN VON AMERIKA ETATS-UNIS USAAlly Financial Inc 7% USD Perpetual 32 20,834 0.07

Bank of America Corp FRN USD Perpetual 100,000 80,688 0.25

Jarden Corp 7.5% EUR 15/01/2020 500,000 491,865 1.55

593,387 1.87

TOTAL BONDS BÖRSENNOTIERTE ANLEIHEN TOTAL DES OBLIGATIONS TOTAL BONDSINSGESAMT INSGESAMT 872,069 2.75

WARRANTS OPTIONSSCHEINE WARRANTS WARRANTSUNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIATaylor Wimpey WTS 15/05/2014 4,495 68 –

TOTAL WARRANTS OPTIONSSCHEINE TOTAL WARRANTS SUM WARRANTSINSGESAMT 68 –

TOTAL OTHER TRANSFERABLE SECURITIES/SONSTIGE ÜBERTRAGBARE WERTPAPIERE INSGESAMT/TOTAL AUTRES VALEURSMOBILIERES/SUM ANDRE OMSETTELIGE VERDIPAPIRER 872,137 2.75




regnskapet.


EUR %


94 Invesco Funds

Invesco Global Absolute Return Fund







OPEN-ENDED OFFENE FONDS À CAPITAL OPEN-END FONDFUNDS INVESTMENTFONDS VARIABLEIRELAND IRLAND IRLANDE IRLANDShort-Term Investments Co Global Series - Euro Liquidity Portfolio 450,000 450,000 9.78

TOTAL OPEN-ENDED FUNDS OFFENE INVESTMENTFONDS TOTAL FONDS À SUM OPEN-END FONDINSGESAMT CAPITAL VARIABLE 450,000 9.78

Total Gesamtanlagen Total des Sum Investments investissements investeringer 450,000 9.78



regnskapet.


EUR %


95 Invesco Funds

Invesco Balanced-Risk Allocation Fund







STRUCTURED PRODUCTS STRUKTURIERTE PRODUKTE PRODUITS STRUCTURÉS STRUKTURERTE PRODUKTERIRELAND IRLAND IRLANDE IRLANDSource Physical Markets Secured Gold Linked Noted 3,400 330,008 1.24

SWITZERLAND SCHWEIZ SUISSE SVEITSUBS ETC WTI Crude Oil - USD 1,520 1,340,608 5.04

UNITED KINGDOM VEREINIGTES KÖNIGREICH ROYAUME-UNI STORBRITANNIAETFS Agriculture DJ-UBSCI 347,000 1,847,294 6.94


4,245,224 15.95



TOTAL STRUCTURED STRUKTURIERTE TOTAL PRODUITS SAMLEDEPRODUCTS PRODUKTE INSGESAMT STRUCTURÉS STRUKTURERTE PRODUKTER

7,556,562 28.40





regnskapet.


EUR %


96 Invesco Funds

Invesco FundsStatement of Net Assets as at 31 August 2010Aufstellung des Nettovermögens zum 31. August 2010Etat de l’actif net au 31 août 2010Regnskap for netto eiendeler pr. 31. August 2010

ASSETS Aktiva Actif EiendelerInvestments at Wertpapiere zum Valeur des placements Investering til markedsverdimarket value Marktwert au cours du marché 2(b)

CURRENT ASSETS Umlaufvermögen Actif circulant OmløpsmidlerDue from brokers Forderungen an Broker Créances sur les courtiers Til gode fra meglereReceivable for Forderungen aus der Créances au titre Tilgodehavende for utstedte aksjerShares issued Ausgabe von Anteilen des actions émisesOther debtors Sonstige Forderungen Autres débiteurs Andre fordringerBank balances Bankguthaben Soldes bancaires BankinnskuddNet unrealised gain on Nicht realisierte Gain non réalisé sur les Urealisert tap på terminvaluta forward foreign exchange Gewinne aus contrats de change terminkontraktercontracts/futures contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Net urealisert tap på rEquity swaps aus Equity Swaps swaps de taux d’intérêt entebytteavtaler 11&2(m)Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Urealisert gevinst påcredit default swaps aus Credit Default Swaps swaps sur défaillance kredittbytteavtaler 9 & 2(k)

Total Assets Aktiva insgesamt Total de l’actif Sum eiendeler

CURRENT LIABILITIES Verbindlichkeiten Passif circulant Kortsiktig gjeldBank overdraft Banküberziehung Découvert bancaire Bank kassekreditt

Due to brokers Verbindlichkeiten bei Dettes envers les courtiers Skyldig til meglereBrokern

Payable for Verbindlichkeiten aus der Dettes au titre des Skyldig for innløste aksjerShares redeemed Rücknahme von Anteilen actions rachetéesOther creditors Sonstige Verbindlichkeiten Autres créanciers Andre kreditorerNet unrealised loss on Nicht realisierte Perte non réalisée sur les Urealisert gevinst påforward foreign exchange Verluste aus contrats de change terminvaluta/terminkontraktercontracts/future contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)Net unrealised loss on Unrealisierte Verluste aus Perte non réalisé sur Netto urealisert tap på aksjeswapperequity swaps Equity Swaps les swaps de taux d'intérétNet unrealised loss on credit Unrealisierte Verluste Perte non réalisée sur les Urealiserte tap på kredittbytteavtaler 11&2(m)default swaps aus Credit Swaps swaps sur défaillance 9 & 2(k)

Total Liabilities Passiva insgesamt Total du passif Sum gjeld

Net Assets Nettovermögen Actif net Netto eiendeler

Number of Shares Im Umlauf befindliche Nombre d’actions Antall utstedte aksjerin issue Anteile en circulationDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg ( USD) Med kapitalisering av utbytte A Hedg (USD)Accumulation A (USD) Thesaurierung A (USD) Action de capitalisation A (USD) Med kapitalisering av utbytte A (USD)Distribution A Hedg (EUR) Ausschüttung A Hedg (EUR) Action de distribution A Hedg ( EUR) Med fordeling av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I

Net Asset Value per Share Anteilwert pro Anteil Valeur liquidative par action Nettoverdipr. aksjeDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg(USD) Med kapitalisering av utbytte A Hedg (USD)Accumulation A (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg (USD) Med kapitalisering av utbytte A Hedg (USD)Distribution A Hedg (EUR) Ausschüttung A Hedg (EUR) Action de distribution A Hedg ( EUR) Med fordeling av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I


97 Invesco Funds


The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August 2010 (see note 12) / *Compartiments ayant adopté le swing pricing au 31

août 2010 (consulter la note 12)/ *Fonds, bei denen am 31. August 2010 eine Anpassung des Kurses (“swinging”) durchgeführt wurde (siehe Erläuterung 12) /*Fond med svingende kursfastsettelse 31.

august 2010 (se note 12). 1 Invesco Latin American Equity Fund was launched on 21 June 2010.

Invesco Invesco Invesco Invesco Invesco Invesco Invesco

Global US US Latin Pan European Pan Pan European Invesco Invesco

Structured Structured 130/30 American Structured European Small Cap European Pan European

Equity Equity Equity Equity Equity Equity Equity Growth Equity Equity Income

Fund Fund Fund Fund 1 Fund Fund Fund Fund FundUSD USD USD USD EUR EUR EUR EUR EUR

23,681,716 59,909,910 3,648,836 3,056,082 262,068,616 510,891,014 84,501,282 66,250,119 4,099,450

– – – 12,503 – 1,566,005 127,257 52,842 4,065

5,494 19,523 243 – 2,462,888 207,198 5,929 72,726 438

66,844 136,820 86,208 65,932 740,319 1,291,512 44,309 120,600 25,923

2,220,633 1,933,520 178,940 12,410 12,150,643 553,725 2,075,181 6,616,285 16,349

195,275 391 73 5 – – – – –

– – 36,330 – – – – – –

– – – – – – – – –

– – – – – – – – –

26,169,962 62,000,164 3,950,630 3,146,932 277,422,466 514,509,454 86,753,958 73,112,572 4,146,225

– – – – – – – – –

– – – 3,092 – 1,727,122 88,705 – –

168,008 71,915 14,749 – 1,484,846 1,678,355 738,900 9,905 –

59,461 116,692 31,477 65,425 392,375 923,736 218,749 142,332 16,966

1,233,362 83,428 7,822 3,754 278,823 – – – –

– – 44,706 – – – – – –

– – – – – – – – –

– – – – – – – – –

1,460,831 272,035 98,754 72,271 2,156,044 4,329,213 1,046,354 152,237 16,966

24,709,131 61,728,129 3,851,876 3,074,661 275,266,422 510,180,241 85,707,604 72,960,335 4,129,259

228,455 – 252,731 – 588 1,954,428 – – 498,533

– 1,662,576 14,378 290,000 15,886,451 24,079,636 7,621,370 1,922,643 29,694

2,345 31,609 9,162 2,646 – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – 12,108 1,040 – –

– 62 – – 102 287,624 106,618 – –

– – – – – – – – –

648,838 – – – – 1,644,701 – – –

– 2,896,518 250,000 2,500 14,346,330 16,054,849 146,845 3,125,092 1,299

2,240 44,130 11,038 16,971 – – – – –

4,459 – – – – – – – –

– – – – – – – – –

21,118 684,878 4,925 2,506 2,157,063 4,664,508 465,692 201,095 26,040

– – – – – – – – –

– 111 182 – – 99 – 78 –

26.29 – 7.16 – 8.37 9.66 – – 7.41

– 11.50 7.16 9.79 8.36 10.37 10.32 13.67 7.69

19.78 6.38 4.18 7.49 – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – 12.46 13.08 – –

– 10.67 – – 7.84 9.10 9.17 – –

– – – – – – – – –

27.57 – – – – 10.23 – – –

– 11.93 7.26 9.79 8.78 10.97 10.91 14.10 7.78

20.74 6.63 4.24 7.49 – – – – –

18.06 – – – – – – – –

– – - – – – – – –

21.43 8.53 5.54 7.72 7.65 9.86 9.56 13.08 7.53

– – – – – – – – –

– 9.12 5.71 – – 10.49 – 13.81 –


98 Invesco Funds



CURRENT ASSETS Umlaufvermögen Actif circulant OmløpsmidlerDue from brokers Forderungen an Broker Créances sur les courtiers Til gode fra meglereReceivable for Forderungen aus der Créances au titre Tilgodehavende for utstedte aksjerShares issued Ausgabe von Anteilen des actions émisesOther debtors Sonstige Forderungen Autres débiteurs Andre fordringerBank balances Bankguthaben Soldes bancaires BankinnskuddNet unrealised gain on Nicht realisierte Gain non réalisé sur les Urealisert tap på terminvaluta forward foreign exchange Gewinne aus contrats de change terminkontraktercontracts/futures contracts Währungsterminkontrakten à terme

Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Net urealisert tap på r 7, 8, 2(i)?(j)equity swaps aus Equity Swaps swaps de taux d’intérêt entebytteavtaler 11&2(m)Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Urealisert gevinst på credit default swaps aus Credit Default Swaps swaps sur défaillance kredittbytteavtaler 9 & 2(k)




Payable for Verbindlichkeiten aus der Dettes au titre des Skyldig for innløste aksjerShares redeemed Rücknahme von Anteilen actions rachetéesOther creditors Sonstige Verbindlichkeiten Autres créanciers Andre kreditorerNet unrealised loss on Nicht realisierte Perte non réalisée sur les Urealisert gevinst påforward foreign exchange Verluste aus contrats de change terminvaluta/terminkontraktercontracts/future contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)Net unrealised loss on Unrealisierte Verluste aus Perte non réalisé sur Netto urealisert tap på aksjeswapper 11&2(m)equity swaps Equity Swaps les swaps de taux d'intérétNet unrealised loss on credit Unrealisierte Verluste Perte non réalisée sur les Urealiserte tap på kredittbytteavtaler 9 & 2(k)default swaps aus Credit Swaps swaps sur défaillance 10&2(l)



Number of Shares Im Umlauf befindliche Nombre d’actions Antall utstedte aksjerin issue Anteile en circulationDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg ( USD) Med kapitalisering av utbytte A Hedg (USDAccumulation A (USD) Thesaurierung A (USD) Action de capitalisation A (USD) Med kapitalisering av utbytte A (USD)Distribution A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte EAccumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I

Net Asset Value Anteilwert Valeur liquidative Nettoverdipr. aksjeper Share pro Anteil par actionDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg (USD Med kapitalisering av utbytte A Hedg (USDAccumulation A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Distribution A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A (EUR) Med kapitalisering av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I


99 Invesco Funds


Invesco Invesco InvescoPan European Invesco Nippon Invesco Invesco Invesco Invesco Invesco Asia Invesco

130/30 Emerging Small/Mid Nippon Select Asia Greater China Asia India Consumer GlobalEquity Europe Equity Cap Equity Equity Opportunities Equity Infrastructure Equity Demand Leisure

Fund Fund Fund* Fund Equity Fund Fund Fund Fund Fund* Fund*EUR USD JPY JPY USD USD USD USD USD USD

4,390,798 31,622,968 3,798,443,550 8,219,890,450 122,418,648 493,124,317 2,602,033,563 128,035,569 618,158,472 33,164,584

372,426 – 44,471,823 103,921,507 749,146 4,257,982 1,275,572 – – 868,165

1,692 339,767 1,748,382 482,553 2,217,118 5,528,608 11,974 5,893,023 21,943,813 338,572

59,891 371,470 3,203,818 5,645,782 211,984 1,741,759 7,484,240 166,078 766,361 31,952

263,413 324,832 161,610,686 18,592,816 670,704 – 25,775,152 3,406,694 – 12,319

– – – – – 43 469 – 452 -

139,121 – – – – – – – – -

– – – – – – – – – -

– – - – – – – – – -

5,227,341 32,659,037 4,009,478,259 8,348,533,108 126,267,600 504,652,709 2,636,580,970 137,501,364 640,869,098 34,415,592

– – – – – 1,982,506 – 1,637,199 6,946,761 -

344,433 113,006 13,299,428 75,484,967 1,295,383 6,132,493 4,294,566 – 8,419,693 485,380

519 140,069 34,789,612 29,327,198 64,171 80,063 7,206,636 2,194,210 290,269 580,519

25,205 105,723 13,910,024 23,037,374 394,770 1,156,585 5,563,292 432,767 2,537,126 95,708

5,099 – – – – 7,634 23,194 – 38,150 -

73,438 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

448,694 358,798 61,999,064 127,849,539 1,754,324 9,359,281 17,087,688 4,264,176 18,231,999 1,161,607

4,778,647 32,300,239 3,947,479,195 8,220,683,569 124,513,276 495,293,428 2,619,493,282 133,237,188 622,637,099 33,253,985

– – – – – – 31,366,480 2,247,696 2,641,596 -

113,557 1,437,066 6,708,559 34,131,048 589,208 8,613,470 110,544,431 – 27,348,422 2,038,813

– – – – – 3,878 43,623 – 67,653 -

– – – – – – – – – -

423,673 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

– 127,518 141,843 347,802 18,139 289,452 – – – 16,091

– – – – – – – – – -

– – – – – – – 262,387 – -

424,768 552,150 207,805 5,108,793 706,523 1,956,816 26,295,450 – 15,211,111 47,348

– – – – – 1,962 4,936 – 71,072 -

– – – – – – – – – -

– – – – – – – – – -

12,282 1,218,087 632,816 8,031,598 135,138 4,485,772 35,896,853 843,529 10,427,242 71,959

– – – – – – – – – -

207 – 205 602 – – – – – -

– – – – – – 12.65 39.72 11.01 -

4.87 9.76 516.56 173.14 84.20 32.77 12.89 – 11.16 15.33

– – – – – 24.22 9.33 – 8.13 -

– – – – – – – – – -

6.17 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

– 8.86 460.00 153.12 75.55 28.96 – – – 13.47

– – – – – – – – – -

– – – – – – – 43.00 – -

4.95 10.27 547.33 182.99 89.15 34.66 13.23 – 11.33 16.17

– – – – – 25.62 9.77 – 8.36 -

– – – – – – – – – -

– – – – – – – – – -

4.79 7.43 4.47 1.54 61.54 24.02 9.86 30.54 8.66 11.20

– – – – – – – – – -

4.92 – 4.88 1.64 – – – – – -

The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August 2010 (see note 12) / *Compartiments ayant adopté le swing pricing au 31

août 2010 (consulter la note 12)/ *Fonds, bei denen am 31. August 2010 eine Anpassung des Kurses (“swinging”) durchgeführt wurde (siehe Erläuterung 12) /*Fond med svingende kursfastsettelse 31.

august 2010 (se note 12).


100 Invesco Funds


ASSETS Aktiva Actif EiendelerInvestments at Wertpapiere zum Valeur des placements Investering til markedsverdimarket value Marktwert au cours du marché 2(b)CURRENT ASSETS Umlaufvermögen Actif circulant OmløpsmidlerDue from brokers Forderungen an Broker Créances sur les courtiers Til gode fra meglereReceivable for Forderungen aus der Créances au titre Tilgodehavende for utstedte aksjerShares issued Ausgabe von Anteilen des actions émisesOther debtors Sonstige Forderungen Autres débiteurs Andre fordringerBank balances Bankguthaben Soldes bancaires BankinnskuddNet unrealised gain on Nicht realisierte Gain non réalisé sur les Urealisert tap på terminvaluta forward foreign exchange Gewinne aus contrats de change terminkontraktercontracts/futures contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)

Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Net urealisert tap på r 11&2(m)equity swaps aus Equity Swaps swaps de taux d’intérêt entebytteavtalerNet unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Urealisert gevinst på credit default swaps aus Credit Default Swaps swaps sur défaillance kredittbytteavtaler 9 & 2(k)

Net unrealised gain on Nicht realisierte Plus-value nette latente sur Netto urealisert fortjeneste 10&2(l)interest rate swaps Gewinne aus Zinsswaps les swaps de taux d’intérêt på rentebytteavtaler




Payable for Verbindlichkeiten aus der Dettes au titre des Skyldig for innløste aksjerShares redeemed Rücknahme von Anteilen actions rachetéesOther creditors Sonstige Verbindlichkeiten Autres créanciers Andre kreditorerNet unrealised loss on Nicht realisierte Perte non réalisée sur les Urealisert gevinst påforward foreign exchange Verluste aus contrats de change terminvaluta/terminkontraktercontracts/future contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)Net unrealised loss on Unrealisierte Verluste aus Perte non réalisé sur les Netto urealisert tap på aksjeswapper 11&2(m)equity swaps Equity Swaps swaps de taux d'intérétsNet unrealised loss on credit Unrealisierte Verluste Perte non réalisée sur les Urealiserte tap på kredittbytteavtaler 9 & 2(k)default swaps aus Credit Swaps swaps sur défaillance 10&2(l)Net unrealised loss on interestrate swaps



Number of Shares Im Umlauf befindliche Nombre d’actions Antall utstedte aksjerin issue Anteile en circulationDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg ( USD) Med kapitalisering av utbytte A Hedg (USDAccumulation A (USD) Thesaurierung A (USD) Action de capitalisation A (USD) Med kapitalisering av utbytte A (USD)Distribution A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg ( USD) Med kapitalisering av utbytte A Hedg ( USD)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte EAccumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I

Net Asset Value Anteilwert Valeur liquidative Nettoverdipr. aksjeper Share pro Anteil par actionDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg (USD) Med kapitalisering av utbytte A Hedg (USD)Accumulation A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Distribution A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I


101 Invesco Funds


The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August 2010 (see note 12) / *Compartiments ayant adopté le swing pricing au 31 août 2010

(consulter la note 12)/ *Fonds, bei denen am 31. August 2010 eine Anpassung des Kurses (“swinging”) durchgeführt wurde (siehe Erläuterung 12) /*Fond med svingende kursfastsettelse 31. august 2010 (se note 12).

1 Invesco Emerging Markets Quantitive Equity Fund was launched on 21 June 2010.1 Invesco Gold & Precious Metals Fund was launched on 21 June 2010.

Invesco Invesco Invesco InvescoAsia Pacific Global Income Emerging Gold & Invesco Invesco Invesco Invesco Invesco Invesco

Invesco Real Estate Real Estate Markets Precious USD Euro Global European Absolute Euro CorporateEnergy Securities Securities Quantitive Metals Reserve Reserve Bond Bond Return Bond

Fund Fund Fund Equity Fund1 Fund1 Fund Fund Fund Fund Bond Fund Fund*USD USD USD USD USD USD EUR USD EUR EUR EUR

265,120,930 3,002,410 9,562,652 6,802,854 1,968,620 76,224,452 261,308,367 35,861,164 62,016,008 31,145,341 1,488,179,224

9,654,993 – 177,516 783 –– – – – 337,898 – -

16,317,426 248 3,506 – 6,481 1,887,958 14,073,042 376,220 302,170 7,247 15,125,536

421,721 78,841 18,941 72,094 62,622 75,026 370,214 420,475 1,107,667 343,256 34,056,442

8,571,749 78,527 383,423 115,616 61,912 41,983,283 90,528,221 5,363,733 1,326,060 912,704 184,540,530

56,174 – – 106 386 – – 81,053 20,978 281,724 -

– – – – – – – – – – -

– – – – – – – – – 51,684 -

– – – – – – – – – – -

300,142,993 3,160,026 10,146,038 6,991,453 2,100,021 120,170,719 366,279,844 42,102,645 64,772,883 33,079,854 1,721,901,732

– – – – – – – – – – -

11,755,616 – 149,095 – – – 13,969,200 – 157,688 – -

45,622 172 30,755 – – 3,843,510 2,027,305 1,592,099 94,368 129,152 5,353,921

560,398 72,733 42,653 72,010 67,033 102,106 266,761 77,735 90,523 83,107 1,900,713

298,929 – – 7,797 30,440 – – 201,003 97,688 742,719 13,858,500

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

12,660,565 72,905 222,503 79,807 97,473 3,945,616 16,263,266 1,870,837 440,267 954,978 21,113,134

287,482,428 3,087,121 9,923,535 6,911,646 2,002,548 116,225,103 350,016,578 40,231,808 64,332,616 32,124,876 1,700,788,598

280 151,763 806,240 – – – 16 995,534 213 – 13,554,549

10,988,160 39,567 363,383 17,983 81,393 698,148 277,732 1,405,042 7,163,043 4,341,535 28,574,762

633,447 – – 6,504 74,522 – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

122,325 – – – – 3,453 264 – 154,691 – -

- – – – – 39,175 – – – – -

– – – – – – – – – – -

– – – – – 418,254 591,179 1,910,999 3,547,418 2,077,214 54,305,153

535,307 150,000 647 656,242 31,375 – – – – – -

75,437 – – 6,504 6,504 – – – – 37,423 -

– – – 6,505 – - - - - - -

1,758,610 17,294 47,275 801 751 166,000 205,498 1,331,856 1,541,056 5,133,239 35,255,289

– – – – – – – – – – -

– – – 100 – – – – – 347 -

20.89 8.52 7.82 – – – 320.17 5.2210 5.0127 – 11.1622

20.87 8.61 8.89 9.93 10.20 87.00 320.18 7.3948 5.1593 2.7697 13.071

11.07 – – 7.99 8.21 – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

18.89 – – – – 78.91 289.93 – 4.5801 – -

– – – – – 86.89 – – – – -

– – – – – – – – – – -

21.88 8.71 9.11 9.94 10.22 89.39 331.01 7.9116 5.3088 2.8769 13.2521

11.63 – – 8.00 8.22 – – – – – -

– – – 6.68 – – – – – 2.3841 -

– – – – – – – – – – -

15.29 6.73 6.34 7.82 8.04 68.52 317.88 5.6394 5.0835 2.7302 12.9437

– – – – – – – – – – -

– – – 7.86 – – – – – 2.8506 -


102 Invesco Funds



CURRENT ASSETS Umlaufvermögen Actif circulant OmløpsmidlerDue from brokers Forderungen an Broker Créances sur les courtiers Til gode fra meglereReceivable for Forderungen aus der Créances au titre Tilgodehavende for utstedte aksjerShares issued Ausgabe von Anteilen des actions émisesOther debtors Sonstige Forderungen Autres débiteurs Andre fordringerBank balances Bankguthaben Soldes bancaires BankinnskuddNet unrealised gain on Nicht realisierte Gain non réalisé sur les Urealisert tap på terminvaluta forward foreign exchange Gewinne aus contrats de change terminkontraktercontracts/futures contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)

Net unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Net urealisert tap på r 11&2(m)equity swaps aus Equity Swaps swaps de taux d’intérêt entebytteavtalerNet unrealised gain on Nicht realisierte Gewinne Gain non réalisé sur les Urealisert gevinst på credit default swaps aus Credit Default Swaps swaps sur défaillance kredittbytteavtaler 9 & 2(k)

Net unrealised gain on Nicht realisierte Plus-value nette latente sur Netto urealisert fortjenesteinterest rate swaps Gewinne aus Zinsswaps les swaps de taux d’intérêt på rentebytteavtaler 10&2(l)




Payable for Verbindlichkeiten aus der Dettes au titre des Skyldig for innløste aksjerShares redeemed Rücknahme von Anteilen actions rachetéesOther creditors Sonstige Verbindlichkeiten Autres créanciers Andre kreditorerNet unrealised loss on Nicht realisierte Perte non réalisée sur les Urealisert gevinst påforward foreign exchange Verluste aus contrats de change terminvaluta/terminkontraktercontracts/future contracts Währungsterminkontrakten à terme 7, 8, 2(i)/(j)Net unrealised loss on Unrealisierte Verluste aus Perte non réalisé sur les Netto urealisert tap på aksjeswapper 11&2(m)equity swaps Equity Swaps swaps de taux d'intérétsNet unrealised loss on credit Unrealisierte Verluste Perte non réalisée sur les Urealiserte tap på kredittbytteavtalerdefault swaps aus Credit Swaps swaps sur défaillance 9 & 2(k)Net unrealised loss on interestrate swaps 10&2(l)



Number of Shares Im Umlauf befindliche Nombre d’actions Antall utstedte aksjerin issue Anteile en circulationDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg (USD) Med kapitalisering av utbytte A Hedg (USDAccumulation A (USD) Thesaurierung A (USD) Action de capitalisation A (USD) Med kapitalisering av utbytte A Hedg (USD)Distribution A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg ( EUR) Med kapitalisering av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A Hedg (USD) Action de distribution A Hedg (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg (EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I

Net Asset Value Anteilwert Valeur liquidative Nettoverdipr. aksjeper Share pro Anteil par actionDistribution A Ausschüttung A Action de distribution A Med fordeling av utbytte AAccumulation A Thesaurierung A Action de capitalisation A Med kapitalisering av utbytte AAccumulation A Hedg (EUR) Thesaurierung A Hedg (EUR) Action de capitalisation A Hedg (EUR) Med kapitalisering av utbytte A Hedg (EUR)Accumulation A Hedg (USD) Thesaurierung A Hedg (USD) Action de capitalisation A Hedg ( USD) Med kapitalisering av utbytte A Hedg (USD)Accumulation A (USD) Thesaurierung A (USD) Action de capitalisation A (USD) Med kapitalisering av utbytte A (USD)Distribution A Hedg (EUR) Ausschüttung A Hedg (EUR) Action de distribution A Hedg (EUR) Med fordeling av utbytte A Hedg (EUR)Distribution A (USD) Ausschüttung A (USD) Action de distribution A (USD) Med fordeling av utbytte A (USD)Accumulation B Thesaurierung B Action de capitalisation B Med kapitalisering av utbytte BAccumulation B1 Thesaurierung B1 Action de capitalisation B1 Med kapitalisering av utbytte B1Distribution C Ausschüttung C Action de distribution C Med fordeling av utbytte CAccumulation C Thesaurierung C Action de capitalisation C Med kapitalisering av utbytte CAccumulation C Hedg (EUR) Thesaurierung C Hedg (EUR) Action de capitalisation C Hedg (EUR) Med kapitalisering av utbytte C Hedg (EUR)Accumulation C Hedg (GBP) Thesaurierung C Hedg (GBP) Action de capitalisation C Hedg (GBP) Med kapitalisering av utbytte C Hedg (GBP)Accumulation C Hedg (USD) Thesaurierung C Hedg (USD) Action de capitalisation C Hedg (USD) Med kapitalisering av utbytte C Hedg (USD)Accumulation E Thesaurierung E Action de capitalisation E Med kapitalisering av utbytte E Accumulation E Hedg (EUR) Thesaurierung E Hedg (EUR) Action de capitalisation E Hedg(EUR) Med kapitalisering av utbytte E Hedg (EUR)Accumulation I Thesaurierung I Action de capitalisation I Med kapitalisering av utbytte I


103 Invesco Funds


The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August 2010 (see note 12) / *Compartiments ayant adopté le swing pricing au 31 août 2010 (consulter la note 12)/*Fonds, bei denen am 31. August 2010 eine Anpassung des Kurses (“swinging”) durchgeführt wurde (siehe Erläuterung 12) /*Fond med svingende kursfastsettelse 31. august 2010 (se note 12). 1Invesco Global Unconstrained Bond Fund waslaunched on 21 June 2010.

Invesco Invesco Invesco Invesco Invesco Invesco Invesco Invesco 31.08.10Euro-Inflation UK Emerging Global Invesco Capital Invesco Pan Global Balanced Consolidated-

Linked Investment Local Investment Global Shield 90 Asia European Absolute Risk Net AssetsBond Grade Currencies Grade Corporate Unconstrained (EUR) Balanced High Income Return Allocation USDFund Bond Fund Debt Fund* Bond Fund Bond Fund1 Fund* Fund* Fund Fund Fund EquivalentEUR GBP USD USD GBP EUR USD EUR EUR EUR USD

81,403,723 63,723,690 448,280,407 15,458,275 2,028,916 161,250,746 304,897,565 24,170,825 450,000 7,556,562 9,397,670,752

– – – – – – – 288,750 – – 22,242,390

78,478 803,191 3,809,770 5,756 – 494 2,783,829 3,222 3,528 – 103,775,676

464,709 1,101,802 9,894,178 322,963 89,793 43,551 3,896,674 516,950 29,818 46,329 78,129,602

2,679,904 1,512,422 29,883,203 991,133 249,565 118,043,811 12,671,150 7,288,115 4,678,636 18,728,681 710,663,016

– 303,993 672,300 136,149 24,518 1,580,109 3,579 14,527 66,438 695,251 5,025,677

– – – – – – – – 209,844 – 478,898

– – – – 2,196 – – 102,425 – – 198,835

– – – – – – – – – – -

84,626,814 67,445,098 492,539,858 16,914,276 2,394,988 280,918,711 324,252,797 32,384,814 5,438,264 27,026,823 10,318,184,846

– – – – – – – – – – 10,567,575

– – – 144,893 – 13,969,200 1,023,563 15,303 – – 73,260,676

1,440,178 59,962 5,949,377 – – 580,603 973,862 456,332 344,768 – 42,283,938

112,937 75,104 844,724 77,042 44,332 527,551 528,898 78,192 29,298 76,919 19,822,413

430,278 201,823 2,179,030 643,832 1,668 3,259,950 164,404 86,901 173,114 342,773 29,683,033

– – – – – – – – 288,414 – 503,618

– – – – 35,563 – – – – – 54,881

– – – – – – – – – – -

1,983,393 336,889 8,973,131 865,767 81,563 18,337,304 2,690,727 636,728 835,594 419,692 176,176,134

82,643,421 67,108,209 483,566,727 16,048,509 2,313,425 262,581,407 321,562,070 31,748,086 4,602,670 26,607,131 10,142,008,712

– 75,282,021 19,728,265 453,006 – – 12,565,088 1,526,371 – 460

2,662,220 – 1,944,229 – 44,453 16,012,221 3,815,495 302,905 213,758 145,237

– – 1,550,198 114,621 2,190 – 276,218 – – –

– – – – – – – – – 4,584

– – – – – – – – – –

– – 13,775 – – – – – – –

– – – 641 – – – – – –

56 – – – – – – – – –

– – – – – – – – – –

– – – 358,904 – – – – – –

841,273 – 8,174,472 – 172,384 4,580,326 2,369,183 602,210 175,569 2,141,770

– – 1,404,791 431,495 2,190 – 3,618 – – –

– – – 12,589 – – – – – 12,294

– – – – – – – – 5,231 4,562

1,980,635 – 7,308,691 159,987 – 4,062,218 612,709 345,870 95,674 13,022

– – – – 2,190 – – – – –

69 – – – – 92 – – – –

– 0.8914 10.7805 10.8327 – – 14.93 10.53 – 11.39

15.0794 – 13.7574 – 10.3506 10.65 19.31 12.55 9.34 11.39

– – 7.6483 7.6786 12.3987 – 11.21 – – –

– – – – – – – – – 15.09

– – – – – – – – – –

– – 8.2435 – – – – – – –

– – – 10.6907 – – – – – –

13.7953 – – – – – – – – –

– – – – – – – – – –

– – – 10.8771 – – – – – –

15.5211 – 13.9901 – 10.3627 10.99 19.69 12.66 9.52 11.46

– – 8.5568 7.7104 12.4138 – 14.59 – – –

– – – 7.1478 – – – – – 10.10

– – – – – – – – 12.62 15.19

14.8636 – 10.7191 8.6565 – 10.27 12.39 12.26 9.23 11.33

– – – – 12.3892 – – – – –

15.1685 – – – – 10.93 – – – –


104 Invesco Funds

1. GeneralInvesco Funds (the “Fund”) is an investment company organised under part I of the Luxembourg Law on collective investment of December 20,

2002 as a Société Anonyme qualifying as a Société d’Investissement à Capital Variable (“SICAV”). Invesco Funds is an umbrella fund, comprising

41 active sub-funds with each sub-fund being treated as a separate entity.

(a) Invesco India (Mauritius) LimitedInvestments in Indian securities are made through a wholly-owned Mauritian subsidiary, Invesco India (Mauritius) Limited (the “Subsidiary”), whose

sole object is to carry out investment activities on behalf of the Fund. The Subsidiary is wholly owned by Invesco India Equity Fund. The Subsidiary

holds a Category 1 Global Business Licence issued by the Mauritius Offshore Business Activities Authority. As a result it is subject to a reduced

rate of Mauritian income tax on its income. In addition, no capital gains tax will be payable in respect of the Subsidiary's investments in India and

any dividends and redemption proceeds paid by the Subsidiary to the Invesco India Equity Fund will be exempt from Mauritian withholding tax.

(b) Classes of SharesThe Shares of some of the sub-funds are available in up to six classes (Class A, Class B, Class B1, Class C, Class E and Class I). Class A Shares are

available without any restraints. Class B Shares are available to customers of distributors or intermediaries appointed specifically for the purpose of

distributing the B Shares and only in respect of those Funds in respect of which distribution arrangements have been made with such distributors.

Class C Shares are available to all investors, which have a higher minimum initial subscription amount and benefit from reduced management

charges, are intended primarily for larger or institutional investors. Class E Shares denominated in Euro have a lower initial subscription amount

and higher annual management fee than either the A or the C Class. Class B1 Shares are only available to customers of Merrill Lynch. Class I

Shares are denominated in Euro and are only available to Institutional clients who have an Institutional Management Agreement in place with

Invesco. There are distributing A & C Share classes, hedged share classes and fixed distribution share classes within some of the sub-funds.

Hedged Share Classes are available to investors on several sub-funds. For such classes of Shares, the SICAV may hedge the currency exposure of

classes of Shares denominated in a currency other than the base currency of the relevant Fund, in order to attempt to mitigate the effect of

fluctuations in the exchange rate between the Share class currency and the base currency.

(c) Activity of the FundA & C EUR Hedged share classesEffective 31 March 2010, ‘A’ & ‘C’ Hedged share classes were launched on the following sub-funds:





Invesco Euro Reserve Fund Effective 31 March 2010, ‘A’ Annual Distribution share class was launched on the Invesco Euro Reserve Fund.

Invesco Energy FundEffective 31 March 2010, ‘A’ Annual Distribution share class was launched on the Invesco Energy Fund.

Invesco Global Absolute Return FundEffective 29 April 2010, ’C’ USD Hedged share class was launched on the Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundEffective 29 April 2010, the following share classes were launched on the Invesco Balanced Risk Allocation Fund:

- ‘A’ USD Hedged share class

- ‘C’ USD Hedged share class

- ‘A’ Annual Distribution share class

Invesco Global Investment Grade Corporate Bond FundEffective 29 April 2010, the following share classes were launched on the Invesco Global Investment Grade Corporate Bond Fund:

- ‘C’ GBP Hedged share class

- ‘A’ USD Monthly Distribution share class

Invesco Global Structured Equity FundEffective 29 April 2010, the following share classes were launched on the Invesco Global Structured Equity Fund:

- ‘A’ EUR Hedged share class

- ‘C’ EUR Hedged share class


Invesco Pan European Structured Equity FundEffective 29 April 2010, ‘A’ Annual Distribution share class was launched on the Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundThe Invesco Gold & Precious Metals Fund was launched on 21 June 2010.

Invesco Global Unconstrained Bond FundThe Invesco Global Unconstrained Bond Fund was launched on 21 June 2010.

Invesco Emerging Markets Quantitative Equity FundThe Invesco Emerging Markets Quantitative Equity Fund was launched on 21 June 2010.

Notes to the Financial Statements


105 Invesco Funds

1. General (continued)Invesco Latin American Equity FundThe Invesco Latin American Equity Fund was launched on 11 August 2010.

Invesco Absolute Return Bond FundEffective 11 August 2010, ‘C’ GBP Hedged share class was launched on Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundEffective 11 August 2010, ‘A’ EUR Hedged Monthly Distribution share class was launched on Invesco Emerging Local Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundThe Invesco Global Total Return (EUR) Bond Fund was launched on 15 September 2010.

Invesco Global Absolute Return FundEffective 15 September 2010, ‘C’ JPY Hedged share class was launched on Invesco Global Absolute Return Fund.

Changes to organisation structure- Effective 1 March 2010, the Administration Agent, Registrar and Transfer Agent changed from RBC Dexia Investor Services Bank S.A. to The

Bank of New York Mellon (International) Limited.

- Effective 1 March 2010, the Domiciliary and Corporate Agent changed from RBC Dexia Investor Services Bank S.A. to The Bank of New York

Mellon (International) Limited.

- Effective 1 March 2010, the Custodian and Paying Agent changed from J.P.Morgan Bank Luxembourg S.A. to The Bank of New York Mellon

(International) Limited, Luxembourg Branch.

- Effective 1 March 2010, the Registered Office of Invesco Funds changed from 69, route d'Esch, L-1470 Luxembourg, Grand Duchy of

Luxembourg to 46A, Avenue John F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. Effective 15 May 2010, the Registered Office

changed to 2-4 rue Eugène Ruppert, L-2453 Luxembourg, Grand Duchy of Luxembourg.

(d) PEA Disclosure (Plan d’Epargne en Actions)From the 1 March 2010 to 31 August 2010, the following sub-funds held the average percentage, as specified in the table, of their assets invested

at any time in PEA eligible securities as defined by the Article L.221-31 of the Code Monétaire et Financier. This is required by sub-funds

registered in France that meet the Equity Savings Plan (PEA) requirements. The maximum percentage investments during this period are also

provided:

Invesco Pan European Invesco Pan European Invesco Pan European Invesco Pan EuropeanStructured Equity Fund Equity Income Fund Small Cap Equity Fund Equity Fund

Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Summary of Significant Accounting Policies(a) The accompanying financial statements have been prepared in accordance with the format prescribed by Luxembourg regulations.

Consolidation figures appearing in the Statement of Net Assets are for statistical purposes only and should not be used by investors with holdings

in one or more sub-funds.

(b) Valuation of investmentsNormally investments, including financial derivative instruments, are valued on the basis of the latest dealing price or the latest available

midmarket quotation (the midpoint between the latest quoted bid and offer prices) of the securities on the relevant securities market on which the

investments of the Fund are traded, quoted or dealt as at the Valuation Point on that day. Where investments of a sub-fund are both listed on a

stock exchange and dealt by market makers outside the stock exchange on which the investments are listed, then the SICAV will determine the

principal market for the investments in question and they are valued at the latest available price in that market. Securities which are not quoted or

dealt on any stock exchange but which are dealt in on any other regulated market are valued in a manner as near as possible to that described

above. If no price quotation is available for any of the securities held by a sub-fund or if the value as determined pursuant to the points above is

not representative of the fair market value of the relevant securities, the value of such securities is based on the reasonably foreseeable sales price

determined prudently and in good faith. Short-term Money-Market Instruments are valued based on amortised cost method.

The financial statements have been prepared on the basis of the last net asset values determined in the accounting period. In accordance with the

Prospectus, net asset values were calculated by reference to the latest available prices at 10.00 am (Dublin time) on 31 August 2010.

(c) Impact of ValuesBy way of information, if the Fund had calculated the net asset values solely with a view to publication, the market prices used to value the

investment portfolio would have been the closing prices on 31 August 2010 for the entire investment portfolio, including the American and

European equities. However, these net asset values would not have been significantly different from those shown in these Semi Annual Accounts,

except for the following sub-fund:

- Invesco Emerging Europe Equity Fund: an increase in the Net Asset Value of about 1.48% would have been observed.- Invesco Latin American Equity Fund: an increase in the Net Asset Value of about 1.14% would have been observed.

(d) Cost of sales of investmentsAny surplus or deficit on sales of investments is determined on the basis of average cost.

(e) Income from investmentsDividend income is accounted for on an ex-dividend basis. Income arising on fixed interest securities and deposit interest is accrued on a day-to-day

basis.

Notes to the Financial Statements - (continued)


106 Invesco Funds

2. Summary of Significant Accounting Policies (continued)(f) Foreign exchangeTransactions in currencies other than the designated currency for each sub-fund are translated at the rates of exchange ruling at the time of the

transactions. The market value of the investments and other assets and liabilities in currencies other than the designated currency for each sub-

fund are translated at the rates of exchange ruling at the period end.

The principle exchange rates used at 31 August 2010:

Currency USD 1.00 Currency USD 1.00

ARS 3.9530 KRW 1,198.9000AUD 1.1232 KZT 147.3900BRL 1.7598 MXN 13.1497CAD 1.0595 MYR 3.1381CHF 1.0181 NOK 6.2937CLP 637.5511 NZD 1.4275CNY 6.8100 PEN 2.7980COP 1,827.0501 PHP 45.3600CZK 19.5651 PKR 84.4500DKK 7.4453 PLN 3.1602EGP 5.7059 RUB 30.8447EUR 0.7885 SEK 7.3983GBP 0.6480 SGD 1.3562HKD 7.7806 SKK 23.7035HUF 226.6165 THD 31.2800IDR 9,035.0006 TRY 1.5293ILS 3.8075 TWD 32.0340INR 47.0550 UAH 7.8880ISK 120.5650 ZAR 7.3841JPY 84.3600

(g) Expenses allocationWhere the Fund incurs an expense which relates to a particular sub-fund, such expense is allocated to the relevant sub-fund. In cases where an

expense cannot be considered as being attributable to a particular sub-fund, such expense is allocated between sub-funds on the basis of their

respective Net Asset Values.

(h) Preliminary expensesThe preliminary expenses will be amortised over the first 5 years. Sub-funds launched from 2006 onwards are subject to a maximum amortisation

in any accounting year of 0.05% of the average net asset value. Any unamortised expenses at the end of the 5 years or liquidation date, will be

borne by the Management Company.

(i) Forward foreign exchange contractsThe unrealised gain or loss on open forward foreign exchange contracts is calculated as the difference between the contracted rate and the rate to

close out the contract and is disclosed in the Statement of Net Assets (see note 7 for details). Realised gains or losses include net results on

contracts which have been settled or offset on other contracts and are recorded in the Statement of Operations and Changes in Net Assets

(disclosed at year end only).

(j) Futures contractsDerivative financial instruments are initially recognised at cost and subsequently are re-measured at market value. Market values are obtained from

quoted market prices and exchange rates. All derivatives are carried in assets when amounts are receivable by the Fund and in liabilities when

amounts are payable by the Fund. Changes in market values of future contracts are included in the Statement of Net Assets (see note 8 for

details).

(k) Credit default swapsA credit default swap is a credit derivative transaction in which two parties enter into an agreement, whereby one party pays the other a fixed

periodic coupon for the specified life of the agreement. The other party makes no payments unless a credit event, relating to a predetermined

reference asset occurs. If such an event occurs, the party will then make a payment to the first party and the swap will terminate. The credit

default swaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 9 for

details).

(l) Interest rate swapsAn interest rate swap is a bilateral agreement in which each of the parties agrees to exchange a series of interest payments for another series of

payments (usually fixed/floating) based on a notional amount that serves as a computation basis and that is usually not exchanged. The interest

rate swaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 10 for

details).

(m) Equity swapsAn Equity Swap is a derivative transaction in which the Fund and the counterparty enter into an agreement whereby one party pays the returns

generated by an equity or a basket of equities. The other party pays interest based on the agreed notional amount of the transaction. Interest

received/paid on Equity swaps are recorded as other income/other expenses in the Statement of Operations and Changes in Net Assets (disclosed

at year end only). The value of equity swap transactions is the net present value of all cash flows, both inflows and outflows. Equity swaps are

recorded in the Statement of Net Assets (see note 11 for details).



107 Invesco Funds

3. Management and Investment Advisor FeesThe Directors of the Fund (the “Directors”) are responsible for the investment policy, management and administration of the Fund. The Directors

delegate the day-to-day investment management of the securities portfolio of the Fund to Invesco Management S.A., (the “Management Company”).

In following the investment policy of the Directors, the Management Company seeks investment advice from, as appropriate, Invesco Asset

Management Limited in the United Kingdom, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers in the

United States, Invesco Institutional in Canada and Invesco Asset Management Deutschland GmbH in Germany.

For its services the Management Company is paid by the Fund a percentage of the Net Asset Value of each sub-fund as set out in the table below:

Sub-fund Management Management Management Management Management Fee Fee Fee Fee Fee

Class A Class B Class B1 Class C Class E(includes a 1%

Distribution fee)

EQUITY FUNDSGlobalInvesco Global Structured Equity Fund 1.00% - - 0.60% 1.50%

AmericaInvesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50%

Invesco US 130/30 Equity Fund 1.50% - - 1.00% 2.25%

Invesco Latin American Equity Fund 1.50% - - 1.00% 2.25%

EuropeInvesco Pan European Structured Equity Fund 1.30% 2.30% - 0.80% 2.25%

Invesco Pan European Equity Fund 1.50% 2.50% - 1.00% 2.00%

Invesco Pan European Small Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%

Invesco European Growth Equity Fund 1.50% - - 1.00% 2.25%

Invesco Pan European Equity Income Fund 1.50% - - 1.00% 2.00%

Invesco Pan European 130/30 Equity Fund 1.50% - - 1.00% 2.00%

Invesco Emerging Europe Equity Fund 1.50% 2.50% - 1.00% 2.25%

JapanInvesco Nippon Small/Mid Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%

Invesco Nippon Select Equity Fund 1.50% 2.50% - 1.00% 2.00%

AsiaInvesco Asia Opportunities Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Greater China Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Infrastructure Fund 1.50% - - 1.00% 2.25%Invesco India Equity Fund 1.50% - - 1.00% 2.25%Invesco Asia Consumer Demand Fund 1.50% - - 1.00% 2.25%

THEME FUNDSInvesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25%Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Pacific Real Estate Securities Fund 1.50% - - 1.00% 2.00%Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75%Invesco Emerging Markets Quantitative Equity Fund 1.25% - - 0.75% 1.75%Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00%

RESERVE FUNDSInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50%Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50%

BOND FUNDSInvesco Global Bond Fund 0.75% - - 0.50% 0.90%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00%Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Euro Inflation-Linked Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco UK Investment Grade Bond Fund 0.625% - - - -Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00%Invesco Global Investment Grade Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Global Unconstrained Bond Fund 1.50% - - 1.00% 2.00%

STRUCTURED FUNDSInvesco Capital Shield 90 (EUR) Fund 1.00% 2.00% - 0.60% 1.50%

MIXED FUNDSInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75%

The management fees are calculated daily based on the Net Asset Value of each sub-fund on each business day and paid monthly. The fees of the

Investment Adviser are paid out of the Manager's remuneration.

For the period under review, the Management Company partially waived the management fee for the Invesco USD Reserve Fund and Invesco Euro

Reserve Fund. This waiver applies equally across all share classes.

There is no annual management fee for “I” Shares.



108 Invesco Funds

4. Other FeesThe Manager is paid an additional fee by each Fund (the “Service Agent Fee”). The Service Agent Fee for A and E Shares shall not exceed 0.4% for

Equity Funds or Theme Funds, 0.27% for Bond Funds, 0.20% for the Structured Funds, 0.13% for Reserve Funds 0.35% for Invesco Asia Balanced

Fund and .40% for Invesco Pan European High Income Fund and Invesco Global Absolute Return Fund of the Net Asset Value of each Fund. The

Service Agent Fee for B, B1 and C Shares shall not exceed 0.30% for Equity Funds and Theme Funds, 0.10% for Reserve Funds, 0.20% for Bond

Funds (except for Invesco Euro Inflation-Linked Bond Fund which shall not exceed 0.10%), 0.15% for Structured Funds and 0.30% for the Mixed

Funds of the Net Asset Value of each Fund. Out of this Service Agent Fee, the Manager discharges the fees of the Administration Agent, the

Domiciliary & Corporate Agent and the Registrar & Transfer Agent as well as fees of service providers and fees incurred in places where the Fund is

registered. Each of these fees shall be calculated on each Business Day on the Net Asset Value of the Fund (at a rate which shall be agreed from time

to time with the Manager) and paid monthly. Additionally, the Manager reimburses the expenses of the Fund's Hong Kong Representative.

In its capacity as Custodian, The Bank of New York Mellon (International) Limited is entitled to a remuneration (“Custodian fee”) in accordance with

normal banking practice in Luxembourg at rates agreed from time to time with the Fund, but which shall not exceed 0.2% (except Invesco Asia

Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund and Invesco Asia Consumer Demand Fund which shall not exceed 0.3%) per

annum of the Net Asset Value of the Fund. The Custodian fee is calculated daily and paid monthly. In addition, the Custodian may also charge fees

for transaction charges on each sub-fund.

For the period under review, the Management Company has agreed at it's discretion to pay the Operational Expenses charged to the Invesco USD

Reserve Fund and the Invesco Euro Reserve Fund.

The Management Company has agreed to cap operational expenses charged to the following sub-funds at its discretion, at the following rates:

FundInvesco Asia Pacific Real Estate Securities Fund 0.10%

Invesco Balanced-Risk Allocation Fund 0.05%

Invesco Global Absolute Return Fund 0.10%

Invesco Global Total Return (EUR) Bond Fund 0.05%

Invesco Global Unconstrained Bond Fund 0.05%

Invesco Gold & Precious Metals Fund 0.15%

Invesco Latin American Equity Fund 0.15%

Invesco Pan European Equity Income Fund 0.10%

Invesco Pan European High Income Fund 0.05%

Invesco Global Investment Grade Corporate Bond Fund 0.05%

Invesco Emerging Market Quantitative Equity Fund 0.05%

5. Tax StatusThe Fund is registered under Luxembourg law as a collective investment undertaking. Accordingly, no Luxembourg income or capital gains tax is at

present payable by the Fund. It is, however, subject to an annual “taxe d’abonnement” calculated at an annual rate of 0.05% of the Net Asset

Value. The two Reserve Funds and “I” share classes are subject to a reduced annual rate of 0.01% of the Net Asset Value, such tax being payable

quarterly on the basis of the Net Asset Value of the Funds at the end of the relevant quarter.

6. DividendsIn accordance with the distribution policy of the Fund, income is distributed by way of a dividend payment, only to holders of Class A and Class C

Shares (Distribution Shares).

Invesco Emerging Local Currencies Debt Fund, Class A monthly distributing share class pays a distribution based on yield fixed annually by the

Board of Directors. For the period from 1 March 2010 to 31 August 2010, the yield was set at 6.5%. As at 31 August 2010, $819,158 of

management fees and other fees and expenses were charged against capital instead of against income of the Share class for the period under

review. Consequently, the Board of Directors adjusted the yield to 5.50% from 31 October 2010.

The income due to shareholders of Class A, Class C, Class E and Class I Shares (Accumulation Shares) is reinvested to enhance the value of Class

A, Class C, Class E and Class I Shares.

Type of Share Distribution Frequency Ex Date Distribution payRate Distribution Date

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semi Annual 31 August 2010* 21 September 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semi Annual 31 August 2010* 21 September 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semi Annual 31 August 2010* 21 September 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Quarterly 31 May 2010 21 June 2010A Dist 0.0206 Quarterly 31 August 2010* 21 September 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semi Annual 31 August 2010* 21 September 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semi Annual 31 August 2010* 21 September 2010

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Monthly 31 March 2010 21 April 2010A Dist 0.0291 Monthly 30 April 2010 21 May 2010A Dist 0.0310 Monthly 31 May 2010 21 June 2010A Dist 0.0295 Monthly 30 June 2010 21 July 2010A Dist 0.0310 Monthly 30 July 2010 23 August 2010A Dist 0.0299 Monthly 31 August 2010* 21 September 2010



109 Invesco Funds

6. Dividends (continued)


Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Quarterly 31 May 2010 21 June 2010A Dist 0.0074 Quarterly 31 August 2010* 21 September 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Monthly 31 March 2010 21 April 2010A Dist USD 0.0638 Monthly 30 April 2010 21 May 2010A Dist USD 0.0602 Monthly 31 May 2010 21 June 2010A Dist USD 0.0603 Monthly 30 June 2010 21 July 2010A Dist USD 0.0628 Monthly 30 July 2010 23 August 2010A Dist USD 0.0630 Monthly 31 August 2010* 21 September 2010A Dist EUR 0.0207 Monthly # 31 August 2010* 21 September 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Monthly 31 May 2010 21 June 2010A Dist 0.0370 Monthly 30 June 2010 21 July 2010A Dist 0.0197 Monthly 30 July 2010 23 August 2010A Dist 0.0308 Monthly 31 August 2010* 21 September 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Quarterly 31 May 2010 21 June 2010A Dist 0.2063 Quarterly 31 August 2010* 21 September 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Quarterly 31 May 2010 21 June 2010A Dist 0.1153 Quarterly 31 August 2010* 21 September 2010

* Distributions with an ex date 31 August 2010 and pay date 21 September 2010 have not been reflected in the Financial Statements.# The first distribution was 31 August 2010.

7. Forward Foreign Exchange Contracts

Forward foreign exchange contracts open at 31 August 2010 were as follows;

Invesco Global Structured Equity Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,653 USD to Sell 1,288 EUR 20 07/09/2010Buy 3,010 USD to Sell 1,933 GBP 26 07/09/2010Buy 260,000 SEK to Sell 34,875 USD 259 15/09/2010Buy 100,000 GBP to Sell 151,672 USD 2,640 15/09/2010Buy 423,843 USD to Sell 270,000 GBP 7,200 15/09/2010Buy 340,000 AUD to Sell 294,049 USD 8,063 15/09/2010Buy 820,000 CHF to Sell 779,586 USD 25,946 15/09/2010Buy 220,000,000 JPY to Sell 2,570,078 USD 38,228 15/09/2010Buy 4,151,492 USD to Sell 4,280,000 CAD 112,893 15/09/2010

Total unrealised gain on open forward foreign exchange contracts 195,275

Buy 6,433,478 USD to Sell 587,200,002 JPY (528,324) 15/09/2010Buy 2,093,121 USD to Sell 2,340,000 CHF (205,592) 15/09/2010Buy 2,662,213 USD to Sell 1,800,000 GBP (115,408) 15/09/2010Buy 2,951,280 USD to Sell 2,400,000 EUR (92,298) 15/09/2010Buy 2,143,847 USD to Sell 2,500,000 AUD (77,568) 15/09/2010Buy 768,305 USD to Sell 6,000,000 SEK (42,501) 15/09/2010Buy 750,000 EUR to Sell 985,920 USD (34,802) 15/09/2010Buy 1,200,000 CAD to Sell 1,161,871 USD (29,554) 15/09/2010Buy 300,000 GBP to Sell 473,913 USD (10,976) 15/09/2010Buy 2,450,000 SEK to Sell 340,918 USD (9,839) 15/09/2010Buy 670,000 AUD to Sell 603,275 USD (7,936) 15/09/2010Buy 95,268 EUR to Sell 125,679 USD (4,864) 07/09/2010Buy 84,081 GBP to Sell 133,690 USD (3,935) 07/09/2010Buy 591 USD to Sell 468 EUR (3) 07/09/2010Buy 1,254 USD to Sell 813 GBP (2) 07/09/2010

Total unrealised loss on open forward foreign exchange contracts (1,163,602)

Total net unrealised loss on open forward foreign exchange contracts USD (968,327)

Invesco US Structured Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 30,948 USD to Sell 24,096 EUR 391 07/09/2010

Total unrealised gain on open forward foreign exchange contracts 391

Buy 549,329 EUR to Sell 724,377 USD (27,735) 07/09/2010Buy 29,514 USD to Sell 23,329 EUR (74) 07/09/2010

Total unrealised loss on open forward foreign exchange contracts (27,809)




110 Invesco Funds

7. Forward Foreign Exchange Contracts (continued)

Invesco US 130/30 Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 5,695 USD to Sell 4,432 EUR 73 07/09/2010

Total unrealised gain on open forward foreign exchange contracts 73Buy 94,953 EUR to Sell 125,198 USD (4,779) 07/09/2010Buy 4,307 USD to Sell 3,405 EUR (12) 07/09/2010



Invesco Latin American Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,982 USD to Sell 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,720 USD to Sell 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 24,329 USD to Sell 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 35,067 EUR to Sell 44,300 USD 171 07/09/2010Buy 20,513 USD to Sell 15,953 EUR 281 07/09/2010


Buy 1,162,506 EUR to Sell 1,512,253 USD (38,004) 07/09/2010Buy 40,064 USD to Sell 31,708 EUR (146) 07/09/2010



Invesco Energy Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 371,151 EUR to Sell 468,867 USD 1,813 07/09/2010Buy 1,798,149 USD to Sell 1,375,050 EUR 54,361 07/09/2010





Invesco Emerging Markets Quantitative Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 3,149 USD to Sell 2,019 GBP 32 07/09/2010Buy 6,287 USD to Sell 4,901 EUR 74 07/09/2010




111 Invesco Funds


Invesco Emerging Markets Quantitative Equity Fund (continued) Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 111,759 EUR to Sell 147,355 USD (5,626) 07/09/2010Buy 46,676 GBP to Sell 74,201 USD (2,169) 07/09/2010Buy 1,649 USD to Sell 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 34,929 USD to Sell 27,239 EUR 386 07/09/2010





Invesco Global Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,566,000 USD to Sell 1,000,000 GBP 23,292 25/10/2010Buy 3,862,220 USD to Sell 3,000,000 EUR 57,761 20/09/2010

Total unrealised gain on open forward foreign exchange contracts USD 81,053

Invesco European Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 650,000 GBP to Sell 786,378 EUR 4,379 29/10/2010Buy 3,283,628 EUR to Sell 2,690,000 GBP 11,109 29/10/2010


Buy 410,132 EUR to Sell 340,000 GBP (3,495) 29/10/2010Buy 540,000 GBP to Sell 660,244 EUR (3,307) 29/10/2010


Total net unrealised gain on open forward foreign exchange contracts EUR 8,686

Invesco Absolute Return Bond Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 320,000 TRY to Sell 208,727 USD 172 08/09/2010Buy 70,000 GBP to Sell 84,925 EUR 257 08/09/2010Buy 324,465 EUR to Sell 1,300,000 PLN 287 08/09/2010Buy 4,130,000 CNY to Sell 606,283 USD 522 10/12/2010Buy 386,972 USD to Sell 12,000,000 RUB 827 10/12/2010Buy 88,921 GBP to Sell 107,302 EUR 906 07/09/2010Buy 40,700,000 PHP to Sell 893,916 USD 1,307 17/09/2010Buy 930,000 PEN to Sell 331,669 USD 1,654 10/12/2010Buy 451,905 EUR to Sell 370,000 GBP 1,658 08/09/2010Buy 212,198 USD to Sell 1,550,000 ZAR 2,036 08/09/2010Buy 821,073 EUR to Sell 1,100,000 CAD 2,507 08/09/2010Buy 432,051 USD to Sell 20,220,000 INR 2,730 17/09/2010Buy 223,350,000 HUF to Sell 773,283 EUR 3,114 08/09/2010Buy 1,327,629 USD to Sell 9,000,000 CNY 3,935 10/12/2010Buy 468,089 USD to Sell 555,410,000 KRW 3,965 08/09/2010Buy 810,000 USD to Sell 632,996 EUR 5,724 08/09/2010Buy 1,470,000 PEN to Sell 517,606 USD 6,794 17/09/2010Buy 3,310,000 ILS to Sell 856,249 USD 7,686 07/09/2010Buy 19,250,000 PHP to Sell 414,246 USD 7,696 08/09/2010Buy 224,454 USD to Sell 257,000,000 KRW 8,117 17/09/2010Buy 714,177 EUR to Sell 5,650,000 NOK 8,626 08/09/2010Buy 2,900,000 ARS to Sell 719,782 USD 8,771 17/09/2010Buy 5,650,000 NOK to Sell 696,661 EUR 8,890 08/09/2010Buy 9,810,000 SEK to Sell 1,035,203 EUR 10,256 08/09/2010Buy 2,550,000 ZAR to Sell 331,143 USD 10,810 08/09/2010Buy 650,000 CHF to Sell 492,297 EUR 11,184 08/09/2010Buy 1,360,000 MYR to Sell 418,311 USD 11,467 17/09/2010Buy 857,135 USD to Sell 3,220,000 ILS 11,592 08/09/2010Buy 1,830,986 USD to Sell 12,350,000 CNY 13,630 27/09/2010Buy 626,415 EUR to Sell 770,000 USD 19,238 08/09/2010Buy 1,124,433 EUR to Sell 317,450,000 HUF 20,931 08/09/2010Buy 2,720,000 PLN to Sell 657,188 EUR 21,092 08/09/2010Buy 705,629 EUR to Sell 3,310,000 ILS 22,756 07/09/2010Buy 37,800,000 JPY to Sell 418,073 USD 23,693 08/09/2010




112 Invesco Funds


Invesco Absolute Return Bond Fund (continued) Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 4,224,053 EUR to Sell 5,560,799 USD (160,871) 08/09/2010Buy 2,442,312 EUR to Sell 274,750,000 JPY (126,098) 08/09/2010Buy 845,791 USD to Sell 40,690,000 PHP (39,083) 17/09/2010Buy 977,979 EUR to Sell 25,050,000 CZK (31,517) 08/09/2010Buy 1,022,162 EUR to Sell 9,810,000 SEK (23,297) 08/09/2010Buy 12,350,000 CNY to Sell 1,841,223 USD (21,702) 27/09/2010Buy 4,630,000 MXN to Sell 295,998 EUR (18,594) 08/09/2010Buy 1,488,037 USD to Sell 2,050,000 SGD (18,517) 08/09/2010Buy 662,872 EUR to Sell 2,730,000 PLN (17,901) 08/09/2010Buy 1,650,771 EUR to Sell 1,370,000 GBP (16,357) 08/09/2010Buy 13,340,000 CNY to Sell 1,978,158 USD (13,969) 10/12/2010Buy 499,207 EUR to Sell 660,000 CHF (12,021) 08/09/2010Buy 94,100,000 HUF to Sell 339,062 EUR (11,957) 08/09/2010Buy 420,968 USD to Sell 36,700,000 JPY (11,127) 08/09/2010Buy 12,000,000 RUB to Sell 400,000 USD (11,102) 10/12/2010Buy 709,677 USD to Sell 363,000,000 CLP (9,659) 10/12/2010Buy 257,000,001 KRW to Sell 224,454 USD (8,117) 17/09/2010Buy 303,178 USD to Sell 1,240,000 ARS (7,370) 17/09/2010Buy 434,751 EUR to Sell 4,140,000 ZAR (6,736) 08/09/2010Buy 270,000 USD to Sell 219,129 EUR (6,223) 08/09/2010Buy 2,050,000 SGD to Sell 1,197,080 EUR (5,185) 08/09/2010Buy 3,220,000 ILS to Sell 848,740 USD (4,972) 08/09/2010Buy 58,000,000 KZT to Sell 396,717 USD (2,758) 17/09/2010Buy 555,400,001 KRW to Sell 466,091 USD (2,396) 08/09/2010Buy 415,252 USD to Sell 470,000 AUD (2,173) 08/09/2010Buy 431,198 USD to Sell 1,360,000 MYR (1,305) 17/09/2010Buy 20,220,000 INR to Sell 429,208 USD (488) 17/09/2010Buy 208,877 USD to Sell 320,000 TRY (54) 08/09/2010


Total net unrealised loss on open forward foreign exchange contracts EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,710,547 EUR to Sell 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,400,000 EUR to Sell 1,137,724 GBP 12,693 01/09/2010Buy 5,806,757 GBP to Sell 6,920,000 EUR 120,409 01/09/2010Buy 3,040,390 GBP to Sell 4,430,000 USD 169,917 01/09/2010


Buy 32,236 EUR to Sell 40,722 USD 158 07/09/2010Buy 1,113,406 USD to Sell 863,577 EUR 18,249 07/09/2010Buy 3,056,400 TRY to Sell 1,946,628 USD 37,386 12/10/2010Buy 9,767,450 SGD to Sell 7,052,310 USD 149,432 12/10/2010Buy 464,999,999 PHP to Sell 10,000,000 USD 220,603 27/09/2010Buy 226,555,000 THB to Sell 6,990,281 USD 246,472 06/10/2010


Total net unrealised gain on open forward foreign exchange contracts GBP 132,590

Invesco Emerging Local Currencies Debt Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 32,236 EUR to Sell 40,722 USD 158 07/09/2010Buy 1,113,406 USD to Sell 863,577 EUR 18,249 07/09/2010Buy 3,056,400 TRY to Sell 1,946,628 USD 37,386 12/10/2010Buy 9,767,450 SGD to Sell 7,052,310 USD 149,432 12/10/2010Buy 464,999,999 PHP to Sell 10,000,000 USD 220,603 27/09/2010Buy 226,555,000 THB to Sell 6,990,281 USD 246,472 06/10/2010


Buy 34,047,913 EUR to Sell 44,675,847 USD (1,497,502) 07/09/2010Buy 11,030,760 USD to Sell 9,000,000 EUR (382,720) 07/09/2010Buy 87,763,000 CNY to Sell 13,000,000 USD (106,354) 12/11/2010Buy 89,820,000 RUB to Sell 3,000,000 USD (102,851) 08/11/2010Buy 33,725,000 CNY to Sell 5,000,000 USD (45,091) 19/11/2010Buy 22,262,499,999 IDR to Sell 2,500,000 USD (37,399) 03/09/2010Buy 2,400,000 USD to Sell 7,568,400 MYR (7,113) 27/09/2010


Total net unrealised loss on open forward foreign exchange contracts USD (1,506,730)



113 Invesco Funds


Invesco Global Investment Grade Corporate Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 132,231 USD to Sell 84,861 GBP 1,264 01/09/2010

Buy 1,154,570 USD to Sell 745,000 GBP 5,527 01/12/2010

Buy 170,000 GBP to Sell 254,124 USD 8,237 01/09/2010

Buy 4,625,638 USD to Sell 3,640,000 EUR 10,196 01/12/2010

Buy 585,000 EUR to Sell 718,458 USD 23,422 01/09/2010

Buy 1,755,679 USD to Sell 1,340,000 EUR 56,331 01/09/2010


Buy 4,186,915 EUR to Sell 5,523,484 USD (213,788) 07/09/2010

Buy 3,727,116 USD to Sell 3,035,000 EUR (121,783) 01/09/2010

Buy 1,201,799 USD to Sell 830,000 GBP (79,141) 01/09/2010

Buy 150,000 EUR to Sell 194,808 USD (4,582) 01/09/2010

Buy 89,554 GBP to Sell 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,339,464 GBP to Sell 1,600,001 EUR 24,518 20/09/2010


Buy 43,600 GBP to Sell 70,000 CHF (966) 20/09/2010

Buy 81,321 EUR to Sell 67,528 GBP (702) 07/09/2010



Invesco Capital Shield 90 (EUR) Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 100,000 GBP to Sell 121,631 EUR 51 15/09/2010

Buy 834,387 EUR to Sell 685,000 GBP 864 15/09/2010

Buy 55,899,999 JPY to Sell 512,379 EUR 10,226 15/09/2010



Buy 1,267,656 EUR to Sell 138,700,001 JPY (29,043) 15/09/2010

Buy 33,500,000 JPY to Sell 313,994 EUR (804) 15/09/2010


Buy 95,000 GBP to Sell 115,858 EUR (260) 15/09/2010



Invesco Asia Balanced Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 526,707 USD to Sell 412,508 EUR 3,579 07/09/2010





Invesco Pan European High Income Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,265,144 EUR to Sell 1,850,000 GBP 14,527 29/10/2010


Buy 1,789,848 EUR to Sell 1,500,000 GBP (35,322) 20/09/2010Buy 709,161 EUR to Sell 600,000 GBP (20,871) 27/09/2010Buy 656,403 EUR to Sell 550,000 GBP (12,859) 13/09/2010Buy 140,741 EUR to Sell 190,000 CHF (6,525) 16/11/2010Buy 2,608,938 EUR to Sell 2,150,000 GBP (6,438) 16/11/2010Buy 1,573,787 EUR to Sell 2,000,000 USD (3,414) 29/10/2010Buy 120,642 EUR to Sell 100,000 GBP (1,022) 12/10/2010Buy 303,693 EUR to Sell 250,000 GBP (450) 25/10/2010





114 Invesco Funds


Invesco Global Absolute Return Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 528 EUR to Sell 669 USD 1 07/09/2010

Buy 74,532 EUR to Sell 100,000 CAD 108 01/09/2010

Buy 68,262 USD to Sell 51,815 EUR 2,013 07/09/2010

Buy 5,000,000 JPY to Sell 43,881 EUR 2,855 01/09/2010

Buy 1,200,000 USD to Sell 935,490 EUR 10,755 01/09/2010

Buy 900,000 GBP to Sell 1,080,049 EUR 15,206 01/09/2010



Buy 736,761 EUR to Sell 1,000,000 CHF (37,775) 01/09/2010

Buy 279,831 EUR to Sell 31,000,000 JPY (9,935) 01/09/2010

Buy 1,300,000 CAD to Sell 973,492 EUR (5,976) 01/09/2010

Buy 614,170 EUR to Sell 800,000 CHF (5,620) 01/10/2010

Buy 700,000 GBP to Sell 855,327 EUR (3,644) 01/10/2010

Buy 334,271 EUR to Sell 36,000,000 JPY (2,355) 01/10/2010

Buy 156,981 EUR to Sell 200,000 USD (730) 01/10/2010

Buy 73,919 EUR to Sell 100,000 CAD (506) 01/09/2010


Buy 594 EUR to Sell 764 USD (8) 07/09/2010

Buy 600,000 CAD to Sell 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 122,772 GBP to Sell 148,129 EUR 1,272 07/09/2010

Buy 136,947 USD to Sell 103,941 EUR 4,048 07/09/2010

Buy 8,703,663 EUR to Sell 10,702,000 USD 264,717 03/09/2010


Buy 3,347,000 USD to Sell 2,672,478 EUR (33,238) 03/09/2010

Buy 860,684 EUR to Sell 1,100,000 USD (6,710) 03/09/2010

Buy 1,425 GBP to Sell 1,740 EUR (6) 07/09/2010



8. Futures Contracts

Description Number of Contracts Commitment in Long/Short Unrealisedsub-fund Base Ccy Gain/(Loss) in

sub-fund Base CcyInvesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Long (26,381)

Nikkei 225 Future 09/09/2010 4 224,863 Long (26,335)

DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Long (14,190)

FTSE 100 Index Future 17/09/2010 1 84,245 Long (2,854)

Total net unrealised loss on futures contracts USD (69,760)

Invesco US Structured Equity FundS&P 500 EMINI 17/09/2010 29 1,566,338 Long (55,619)


Invesco US 130/30 Equity FundS&P 500 EMINI 17/09/2010 1 55,125 Long (3,031)


Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Long (251,895)

FTSE 100 Index Future 17/09/2010 69 4,303,963 Long (26,928)

Total net unrealised loss on futures contracts EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Long (4,065)





115 Invesco Funds

8. Futures Contracts (continued)Description Number of Contracts Commitment in Long/Short Unrealised

sub-fund Base Ccy Gain/(Loss) insub-fund Base Ccy

Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Short (168,760)

US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Short (27,344)

Long Gilt Future 29/12/2010 (10) (1,939,476) Short (4,899)


Invesco European Bond FundEuro Bobl Future 08/09/2010 6 730,020 Long 5,490

Total unrealised gain on futures contracts 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Short (44,000)

Euro Bund Future 08/09/2010 (16) (2,117,250) Short (33,710)

Long Gilt Future 29/12/2010 (34) (5,193,777) Short (13,176)

Total unrealised loss on futures contracts (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Short 2,860

Euro Bund Future 08/09/2010 3 389,271 Long 14,034


US 10 Year Note Future 21/12/2010 (11) (1,092,052) Short (566)

Long Gilt Future 29/12/2010 (6) (912,789) Short (3,345)

Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Short (29,059)

Euro Bobl Future 08/09/2010 (60) (7,236,900) Short (118,200)



Invesco Euro Corporate Bond FundEuro Bund Future 08/09/2010 (2,100) (268,455,000) Short (13,858,500)

Total net unrealised loss on futures contracts EUR (13,858,500)

Invesco Euro Inflation-Linked Bond FundEuro Bund Future 08/09/2010 (110) (14,396,620) Short (391,230)


Invesco UK Investment Grade Bond FundUS 5 Year Note Future 31/12/2010 (12) (929,317) Short 974

Total unrealised gain on futures contracts 974


US 10 Year Note Future 21/12/2010 (29) (2,343,750) Short (1,753)



Total net unrealised loss on futures contracts GBP (30,420)

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Short 719

Canada 10 Year Bond Future 20/12/2010 2 237,398 Long 817

Euro Schatz Future 08/09/2010 3 403,862 Long 1,235

10 Year Mini JGB Future 08/09/2010 2 308,414 Long 5,034

Euro Bobl Future 08/09/2010 2 296,765 Long 5,039

US Long Bond (CBT) Future 21/12/2010 6 802,875 Long 5,719

US 5 Year Note Future 31/12/2010 60 7,193,250 Long 12,609



US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Short (914)





116 Invesco Funds



Invesco Capital Shield 90 (EUR) FundUS 10 Year Note Future 21/12/2010 404 39,873,681 Long 53,955

10 Year Mini JGB Future 08/09/2010 214 27,158,681 Long 267,653

Euro Bund Future 08/09/2010 298 38,814,270 Long 1,247,360

Total unrealised gain on futures contracts 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Long (1,242,045)Nikkei 225 Future 09/09/2010 249 10,680,824 Long (923,938)DJ Euro Stoxx 50 Future 17/09/2010 347 9,459,120 Long (477,025)


Total unrealised loss on futures contracts (2,806,970)


Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Long 2,250


Euro Bund Future 08/09/2010 10 1,319,690 Long 24,660


S&P 500 EMINI 17/09/2010 13 563,239 Long (20,516)



FTSE 100 Index Future 17/09/2010 4 250,095 Long (488)



Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Long 3,256

Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Long 13,343

Long Gilt Future 29/12/2010 28 4,257,975 Long 17,308

Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Long 39,533




Russell 2000 Mini Future 17/09/2010 27 1,376,550 Long (81,086)

S&P 500 EMINI 17/09/2010 39 1,700,904 Long (76,142)

DJ Euro Stoxx 50 Future 17/09/2010 58 1,576,490 Long (75,160)

Topix Index Future 09/09/2010 9 705,392 Long (47,829)

Hang Seng Index Future 29/09/2010 14 1,453,370 Long (12,773)



Total net unrealised gain on futures contracts EUR 122,395

9. Credit Default Swaps

Purchase/Sale Deal Expiry Nominal Currency Unrealisedof protection Denomination Spread Date value Gain/(Loss)

in sub-fundBase Ccy

Invesco Absolute Return Bond FundPurchase Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Total net unrealised gain on credit default swaps EUR 51,684

Invesco Global Unconstrained Bond FundPurchase Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196

Total unrealised gain on credit default swaps 2,196

Sale French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

Sale Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

Sale Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Total unrealised loss on credit default swaps (35,563)

Total net unrealised loss on credit default swaps GBP (33,367)



117 Invesco Funds

9. Credit Default Swaps (continued)


in sub-fundBase Ccy

Invesco Pan European High Income FundSale Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411Sale British Energy 4.55% 20/03/2013 300,000 EUR 30,869Purchase Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145


10. Interest Rate Swaps

There were no interest rate swaps held on any fund as at the period end, 31 August 2010.

11. Equity Swaps

Invesco US 130/30 Equity FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Total unrealised gain on equity swaps 36,330

Agnico-Eagle Mines Ltd (500) USD (31,215) (0.81%) (1,230)American Express Co 700 USD 29,078 0.75% (1,145)Apple Inc 50 USD 12,382 0.32% (256)AT&T Inc 4,000 USD 106,600 2.77% (60)Babcock & Wilcox Co (450) USD (9,963) (0.26%) (502)Chevron Corp 1,200 USD 93,252 2.42% (4,697)Ciena Corp (2,200) USD (26,444) (0.69%) (1,683)Clearwire Corp (1,800) USD (11,556) (0.30%) (81)Coca-Cola Co 400 USD 22,352 0.58% (140)ConocoPhillips 400 USD 21,972 0.57% (902)Eli Lilly & Co 600 USD 21,342 0.55% (966)Equinix Inc (300) USD (27,024) (0.70%) (158)Exxon Mobil Corp 2,700 USD 161,676 4.20% (2,417)General Electric Co 1,000 USD 15,460 0.40% (945)



118 Invesco Funds

11. Equity Swaps (continued)

Invesco US 130/30 Equity Fund (continued)Underlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyGoldman Sachs Group Inc 100 USD 14,776 0.38% (1,111)

Google Inc 40 USD 19,424 0.50% (1,322)

Human Genome Sciences Inc (600) USD (15,528) (0.40%) (1,845)

International Business Machines Corp 1,000 USD 127,770 3.32% (4,364)

Johnson & Johnson 1,900 USD 110,219 2.86% (1,387)

JPMorgan Chase & Co 100 USD 3,769 0.10% (182)

Juniper Networks Inc (200) USD (5,174) (0.13%) (209)

MBIA Inc (3,400) USD (31,246) (0.81%) (714)

MEMC Electronic Materials Inc (4,800) USD (49,776) (1.29%) (672)

Microsoft Corp 4,700 USD 115,150 2.99% (4,019)

Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)

Old Republic International Corp (600) USD (7,470) (0.19%) (102)

Pfizer Inc 4,700 USD 75,341 1.96% (846)

Philip Morris International Inc 1,300 USD 67,587 1.75% (735)

Plains Exploration & Production Co (1,300) USD (30,550) (0.79%) (1,073)

Procter & Gamble Co 1,600 USD 95,632 2.48% (664)

ProLogis (300) USD (3,060) (0.08%) (167)

Silver Wheaton Corp (200) USD (4,088) (0.11%) (481)

Wells Fargo & Co 2,000 USD 51,360 1.33% (4,849)

Total unrealised loss on equity swaps (44,706)

Total net unrealised loss on equity swaps USD (8,376)

Invesco Pan European 130/30 Equity FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAir France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178


Actelion Ltd (2,548) CHF (103,092) (1.63%) (5,342)Anglo American Plc 1,167 GBP 31,299 0.79% (5,878)Atkins WS Plc 7,278 GBP 50,143 1.28% (41)Barclays Plc 8,146 GBP 24,992 0.63% (1,282)BHP Billiton Plc 3,912 GBP 74,758 1.88% (6,394)British Land Co Plc 2,707 GBP 12,596 0.32% (648)BT Group Plc 60,437 GBP 84,491 2.13% (6,067)Compass Group Plc 15,159 GBP 80,707 2.06% (228)Credit Suisse Group AG 157 CHF 7,153 0.11% (180)Galp Energia SGPS SA (2,516) EUR (31,136) (0.65%) (830)HSBC Holdings Plc 18,828 GBP 122,457 3.09% (4,102)Indra Sistemas SA (6,705) EUR (86,083) (1.80%) (746)Investec Plc 1,721 GBP 8,471 0.21% (622)K & S AG (1,890) EUR (74,287) (1.55%) (2,835)Lonza Group AG (1,335) CHF (104,597) (1.57%) (5,481)Next Plc 3,658 GBP 78,720 1.99% (8,273)



119 Invesco Funds


Invesco Pan European 130/30 Equity Fund (continued)Underlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyOrkla ASA (12,031) NOK (579,894) (1.54%) (4,536)Roche Holding AG 256 CHF 40,115 0.60% (3,613)Royal Dutch Shell Plc 'A' Shares 5,805 GBP 104,375 2.63% (6,174)Royal Dutch Shell Plc 'B' Shares 4,477 GBP 77,049 1.94% (3,862)Schroders Plc 760 GBP 10,374 0.26% (80)Stagecoach Group Plc 25,235 GBP 46,962 1.19% (4,715)Syngenta AG (405) CHF (94,431) (1.52%) (170)Tullow Oil Plc (546) GBP (6,339) (0.16%) (199)Verbund AG (2,504) EUR (68,635) (1.44%) (858)Whitbread Plc 227 GBP 3,375 0.09% (282)


Total net unrealised gain on equity swaps EUR 65,683

Invesco Global Absolute Return FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAbertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771

Alcatel-Lucent (4,139) EUR (8,899) (0.19%) 588

Alfa Laval AB 1,633 SEK 170,485 0.39% 234

Allied World Assurance Co Holdings Ltd 800 USD 38,336 0.65% 928

Ansaldo STS SpA (3,314) EUR (37,879) (0.82%) 7,465

Ansell Ltd 1,815 AUD 23,323 0.35% 789

AstraZeneca Plc 215 SEK 78,562 0.18% 17

Atco Ltd 1,100 CAD 53,482 0.88% 1,294

Atwood Oceanics Inc (700) USD (18,886) (0.32%) 974

Autogrill SpA (4,385) EUR (45,385) (0.99%) 6,019

AutoNation Inc 300 USD 6,000 0.10% 596

Autonomy Corp Plc (1,751) GBP (33,290) (0.87%) 7,105

Baytex Energy Trust 600 CAD 20,160 0.33% 728

BCE Inc 1,100 CAD 34,936 0.58% 1,237

BE Aerospace Inc (279) USD (7,812) (0.13%) 183

Biogen Idec Inc 142 USD 7,587 0.13% 43

Brinker International Inc 1,700 USD 27,336 0.46% 18

Caltex Australia Ltd 4,476 AUD 43,431 0.63% 4,782

Carillion Plc (2,575) GBP (8,330) (0.22%) 591

Carnival Plc (407) GBP (9,015) (0.23%) 661

Chesapeake Energy Corp (831) USD (17,817) (0.30%) 409

Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533

Chubu Electric Power Co Inc 2,000 JPY 4,346,000 0.84% 698

Chugoku Bank Ltd (1,000) JPY (1,022,000) (0.20%) 313

Cie Nationale a Portefeuille (339) EUR (12,248) (0.27%) 159

Clean Harbors Inc (400) USD (25,820) (0.44%) 965

Coloplast A/S 210 DKK 130,200 0.38% 92

Cookson Group Plc (2,187) GBP (9,433) (0.25%) 581

Costco Wholesale Corp (900) USD (50,895) (0.86%) 338

Cree Inc (200) USD (13,654) (0.23%) 1,915

CVS Caremark Corp (2,079) USD (63,727) (1.08%) 5,205

Daihatsu Motor Co Ltd 1,000 JPY 958,000 0.18% 915

Denki Kagaku Kogyo KK (6,000) JPY (2,634,000) (0.51%) 5,455

Discover Financial Services (1,200) USD (18,252) (0.31%) 832

Dolby Laboratories Inc (400) USD (27,076) (0.46%) 3,849

DSG International Plc (24,833) GBP (6,760) (0.18%) 961

EDP Renovaveis SA (3,035) EUR (15,178) (0.33%) 1,886

Electronic Arts Inc (1,200) USD (18,588) (0.32%) 235

FamilyMart Co Ltd (1,200) JPY (3,682,158) (0.71%) 407

First Niagara Financial Group Inc (1,600) USD (21,312) (0.36%) 2,453

Firstgroup Plc (4,366) GBP (16,455) (0.43%) 1,788

FLIR Systems Inc (1,800) USD (54,570) (0.92%) 7,519

Fred Olsen Energy ASA (550) NOK (101,530) (0.28%) 495

Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391

Hakuhodo DY Holdings Inc (590) JPY (2,609,191) (0.50%) 2,703

Hartford Financial Services Group Inc (400) USD (9,112) (0.15%) 990

Hawaiian Electric Industries Inc 1,100 USD 26,103 0.44% 11

Hitachi Construction Machinery Co Ltd (1,500) JPY (2,679,000) (0.52%) 1,635



120 Invesco Funds


Invesco Global Absolute Return Fund (continued)Underlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyHubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606

Ingram Micro Inc (2,000) USD (32,073) (0.54%) 1,835

Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247

InterActiveCorp 2,600 USD 59,808 1.01% 3,028

Iron Mountain Inc (1,086) USD (26,292) (0.45%) 3,268

Isis Pharmaceuticals Inc (1,300) USD (12,363) (0.21%) 1,655

Isuzu Motors Ltd (4,000) JPY (1,116,000) (0.22%) 32

Itron Inc (100) USD (6,300) (0.11%) 684

Johnson Controls Inc (700) USD (20,790) (0.35%) 1,613

Kawasaki Heavy Industries Ltd (23,000) JPY (5,175,000) (1.00%) 376

Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804

Lindt & Spruengli AG (18) CHF (43,200) (0.70%) 601

LKQ Corp (1,000) USD (20,640) (0.35%) 1,725

Magellan Health Services Inc 700 USD 25,928 0.44% 3,208

Markel Corp (100) USD (34,850) (0.59%) 2,052

Martin Marietta Materials Inc (300) USD (25,743) (0.44%) 2,967

Mazda Motor Corp (6,000) JPY (1,278,000) (0.25%) 1,347

Mediaset SpA 7,191 EUR 34,283 0.74% 656

Medicis Pharmaceutical Corp 1,800 USD 43,465 0.73% 4,229

MEMC Electronic Materials Inc (2,000) USD (21,220) (0.36%) 151

Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809

Miraca Holdings Inc 200 JPY 511,200 0.10% 446

Mitsubishi Logistics Corp (2,000) JPY (2,010,000) (0.39%) 1,461

Mizuho Securities Co Ltd (12,000) JPY (2,362,818) (0.46%) 939

Mondi Plc 3,152 GBP 12,846 0.33% 1,925

Nippon Sheet Glass Co Ltd (8,000) JPY (1,856,000) (0.36%) 3,527

Nissan Motor Co Ltd 3,400 JPY 2,140,080 0.41% 312

Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642

Oesterreichische Post AG 673 EUR 13,319 0.29% 247

Old Republic International Corp (4,400) USD (56,523) (0.96%) 794

O'Reilly Automotive Inc (1,200) USD (57,766) (0.98%) 1,103

Outotec OYJ (439) EUR (11,651) (0.25%) 314

Overseas Shipholding Group Inc (400) USD (15,324) (0.26%) 1,975

Panera Bread Co 500 USD 39,005 0.66% 551

Petrohawk Energy Corp (1,129) USD (19,848) (0.34%) 2,130

Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171

Pride International Inc (900) USD (22,302) (0.38%) 941

Primary Health Care Ltd (25,742) AUD (92,509) (1.36%) 6,389

QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121

Quanta Services Inc (1,600) USD (34,080) (0.58%) 4,126

Randgold Resources Ltd (284) GBP (17,523) (0.46%) 943

Randstad Holding NV (920) EUR (31,818) (0.69%) 5,297

Regeneron Pharmaceuticals Inc (800) USD (18,664) (0.32%) 892

ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173

Rogers Communications Inc 1,100 CAD 40,172 0.65% 815

Rovi Corp (200) USD (8,546) (0.15%) 104

Royal Caribbean Cruises Ltd (500) USD (12,365) (0.21%) 96

Sapporo Hokuyo Holdings Inc (3,800) JPY (1,504,048) (0.29%) 13

Schindler Holding AG 307 CHF 28,720 0.47% 1,195


Scotts Miracle-Gro Co 200 USD 9,270 0.16% 159

Shimadzu Corp (2,000) JPY (1,338,000) (0.26%) 1,803

Shionogi & Co Ltd (700) JPY (1,243,900) (0.24%) 1,944

Softbank Corp (500) JPY (1,277,000) (0.25%) 660

Southwest Airlines Co (1,300) USD (15,639) (0.27%) 1,062

Spirit Aerosystems Holdings Inc (800) USD (16,184) (0.27%) 402

Sumitomo Rubber Industries Ltd (2,400) JPY (2,090,400) (0.40%) 2,418

Swiss Reinsurance Co Ltd (373) CHF (17,949) (0.29%) 1,788



121 Invesco Funds



shares of the Fund sub-fund Base CcyTerex Corp (1,000) USD (18,500) (0.31%) 293

TGS Nopec Geophysical Co ASA 513 NOK 38,834 0.11% 628

Thomas Cook Group Plc (7,198) GBP (14,101) (0.37%) 1,325

Thomson Reuters Corp (600) CAD (23,400) (0.39%) 868

TIBCO Software Inc 600 USD 7,830 0.13% 488

Toray Industries Inc (3,000) JPY (1,338,000) (0.26%) 117

Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009

Trinity Industries Inc (1,600) USD (30,464) (0.52%) 2,499

TRW Automotive Holdings Corp 600 USD 18,672 0.32% 1,439

TW telecom inc (616) USD (11,045) (0.19%) 305

United States Steel Corp (400) USD (17,168) (0.29%) 366

United Therapeutics Corp (400) USD (19,916) (0.34%) 1,006

Valeo SA 764 EUR 18,554 0.40% 2,473

Vertex Pharmaceuticals Inc (347) USD (11,718) (0.20%) 65

Vestas Wind Systems A/S (466) DKK (131,453) (0.38%) 3,784

Volvo AB (3,774) SEK (326,828) (0.76%) 2,923

Walter Energy Inc 281 USD 18,414 0.31% 598

Wendel (588) EUR (26,604) (0.58%) 3,162

Wendy's/Arby's Group Inc (2,600) USD (10,790) (0.18%) 329

West Fraser Timber Co Ltd 500 CAD 18,180 0.30% 166

Wienerberger AG (656) EUR (6,980) (0.15%) 300

Yamaha Motor Co Ltd (2,500) JPY (2,865,000) (0.55%) 535

Yaskawa Electric Corp (2,000) JPY (1,414,000) (0.27%) 2,264


Aeon Mall Co Ltd (500) JPY (955,500) (0.18%) (46)

Aeropostale Inc 850 USD 25,449 0.43% (4,993)

AGCO Corp (400) USD (11,944) (0.20%) (838)

Ajinomoto Co Inc (2,000) JPY (1,642,000) (0.32%) (13)

Alere Inc (896) USD (24,891) (0.42%) (251)

Alexion Pharmaceuticals Inc (400) USD (20,548) (0.35%) (1,764)

Amgen Inc 776 USD 41,066 0.70% (829)

Apollo Group Inc 300 USD 13,434 0.23% (335)

ARC Energy Trust 800 CAD 15,992 0.26% (21)

Asahi Glass Co Ltd 3,000 JPY 2,568,000 0.50% (1,058)

Asahi Kasei Corp 4,000 JPY 1,776,888 0.34% (1,104)

ASML Holding NV 1,147 EUR 27,849 0.61% (5,325)

Astellas Pharma Inc 1,500 JPY 4,449,000 0.86% (784)

Auxilium Pharmaceuticals Inc (900) USD (20,308) (0.34%) (2,043)

Avis Budget Group Inc 1,900 USD 19,969 0.34% (1,873)

Benesse Holdings Inc 300 JPY 1,177,500 0.23% (417)

Berkeley Group Holdings Plc 2,860 GBP 23,510 0.61% (435)

BHP Billiton Plc 503 GBP 9,177 0.24% (300)

Big Lots Inc 380 USD 13,194 0.22% (1,070)

BioMarin Pharmaceutical Inc (1,300) USD (25,519) (0.43%) (827)

Boston Scientific Corp 1,700 USD 11,203 0.19% (1,586)

Bucyrus International Inc (400) USD (21,340) (0.36%) (865)

Carlisle Cos Inc 900 USD 33,750 0.57% (5,962)

Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)

Cheesecake Factory Inc 2,500 USD 63,371 1.07% (5,490)

Chugoku Electric Power Co Inc (3,500) JPY (6,258,938) (1.21%) (1,480)

Collective Brands Inc 1,500 USD 23,820 0.40% (2,712)

Compuware Corp 2,286 USD 20,003 0.34% (2,920)

COMSYS Holdings Corp 3,400 JPY 2,794,800 0.54% (3,187)

Concur Technologies Inc (1,200) USD (53,857) (0.91%) (1,421)

Con-way Inc 300 USD 9,840 0.17% (1,338)

Corrections Corp of America (1,600) USD (30,752) (0.52%) (3,208)

Daito Trust Construction Co Ltd 400 JPY 1,946,973 0.37% (209)

Deere & Co (400) USD (24,432) (0.42%) (550)

Delhaize Group SA 396 EUR 24,059 0.52% (3,176)

Discovery Communications Inc (1,100) USD (39,919) (0.68%) (1,223)

DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)

Exxon Mobil Corp 385 USD 22,819 0.39% (108)

Finning International Inc (300) CAD (5,700) (0.09%) (392)

Forest Laboratories Inc 1,796 USD 51,402 0.87% (1,449)



122 Invesco Funds



shares of the Fund sub-fund Base CcyFrontline Ltd 1,187 NOK 223,275 0.61% (3,301)

Fujikura Ltd 2,000 JPY 770,000 0.15% (399)

Gannett Co Inc 900 USD 13,599 0.23% (2,052)

Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)

Hannover Rueckversicherung AG 561 EUR 20,763 0.45% (1,278)

Hays Plc 8,597 GBP 8,253 0.21% (590)

Health Net Inc 800 USD 20,424 0.35% (987)

Healthsouth Corp 1,300 USD 23,621 0.40% (1,650)

Hershey Co 1,400 USD 72,101 1.22% (6,189)

Hitachi Chemical Co Ltd 1,200 JPY 2,058,000 0.40% (2,856)

Hokkaido Electric Power Co Inc (1,100) JPY (2,050,400) (0.40%) (250)

Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)

Intact Financial Corp 600 CAD 28,200 0.46% (1,003)

Intercontinental Hotels Group Plc 1,221 GBP 13,675 0.36% (1,961)

IntercontinentalExchange Inc 200 USD 21,106 0.36% (1,734)

InterDigital Inc 600 USD 16,272 0.28% (1,080)

Isetan Mitsukoshi Holdings Ltd (1,500) JPY (1,308,000) (0.25%) (175)

ITC Holdings Corp (465) USD (25,310) (0.43%) (1,279)

ITT Educational Services Inc 300 USD 26,088 0.44% (7,466)

Ivanhoe Mines Ltd (1,200) CAD (21,036) (0.35%) (873)

Jones Apparel Group Inc 1,200 USD 18,696 0.32% (438)

K & S AG (192) EUR (7,277) (0.16%) (558)

Keihin Electric Express Railway Co Ltd (6,000) JPY (4,879,184) (0.94%) (2,021)

King Pharmaceuticals Inc 1,491 USD 13,076 0.22% (51)

Konica Minolta Holdings Inc 4,500 JPY 4,230,000 0.82% (8,401)

Kurita Water Industries Ltd 700 JPY 1,755,600 0.34% (1,915)

Lagardere SCA (942) EUR (24,732) (0.54%) (2,004)

Lawson Inc 200 JPY 804,000 0.16% (356)

LifePoint Hospitals Inc 800 USD 25,648 0.44% (820)

Lincare Holdings Inc 1,950 USD 52,949 0.90% (5,516)

Lonza Group AG (534) CHF (39,275) (0.64%) (4,132)

Lorillard Inc (200) USD (14,952) (0.25%) (217)

Mabuchi Motor Co Ltd 400 JPY 1,766,000 0.34% (1,713)

Masco Corp 1,698 USD 19,069 0.32% (1,094)

Medipal Holdings Corp (1,600) JPY (1,625,600) (0.31%) (418)

Medtronic Inc 300 USD 11,403 0.19% (1,430)

Millennium & Copthorne Hotels Plc (2,357) GBP (10,324) (0.27%) (1,457)

Minebea Co Ltd 6,000 JPY 3,042,000 0.59% (6,586)

MISUMI Group Inc (1,000) JPY (1,568,216) (0.30%) (582)

Mitsubishi Tanabe Pharma Corp (3,000) JPY (3,805,370) (0.73%) (1,282)

Mitsui Chemicals Inc 17,000 JPY 4,318,000 0.83% (6,120)

Mitsumi Electric Co Ltd 600 JPY 927,000 0.18% (1,965)

Mizuho Financial Group Inc 18,200 JPY 2,548,000 0.49% (1,777)

Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)

Navistar International Corp 400 USD 20,404 0.35% (2,465)

New York Times Co 1,600 USD 15,328 0.26% (2,835)

Next Plc 2,517 GBP 52,340 1.36% (3,426)

NGK Insulators Ltd 1,000 JPY 1,490,000 0.29% (1,976)

NGK Spark Plug Co Ltd 1,000 JPY 1,155,000 0.22% (1,585)

Niko Resources Ltd (300) CAD (30,105) (0.50%) (816)

Nippon Electric Glass Co Ltd 1,000 JPY 1,092,000 0.21% (1,387)

Nisshinbo Holdings Inc 2,000 JPY 1,852,000 0.36% (2,396)

Nitto Denko Corp 400 JPY 1,220,000 0.24% (1,314)

Occidental Petroleum Corp 285 USD 23,399 0.40% (1,835)

Oil States International Inc 600 USD 25,974 0.44% (960)

Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)

Patterson-UTI Energy Inc 991 USD 14,746 0.25% (122)

Peabody Energy Corp 400 USD 17,280 0.29% (447)


Potash Corp of Saskatchewan Inc (300) CAD (30,747) (0.51%) (12,007)

Pulte Group Inc 800 USD 6,824 0.12% (295)



123 Invesco Funds



shares of the Fund sub-fund Base CcyRalcorp Holdings Inc (600) USD (33,288) (0.57%) (1,794)

Reckitt Benckiser Group Plc 583 GBP 18,953 0.49% (56)

Reliance Steel & Aluminum Co 400 USD 14,788 0.25% (95)

Rent-A-Center Inc 1,500 USD 33,405 0.57% (2,697)

Rentokil Initial Plc 6,121 GBP 6,794 0.18% (1,401)

Resona Holdings Inc 700 JPY 682,500 0.13% (914)

Rhodia SA 1,221 EUR 18,724 0.41% (757)

Ross Stores Inc 1,000 USD 54,677 0.93% (3,310)

RR Donnelley & Sons Co 1,200 USD 20,532 0.35% (1,807)

Russel Metals Inc 3,100 CAD 59,985 0.99% (630)

Sara Lee Corp 907 USD 13,052 0.22% (34)

Seagate Technology Plc 1,800 USD 26,586 0.45% (5,825)

Sega Sammy Holdings Inc 1,900 JPY 2,481,400 0.48% (1,126)

Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)

Shoppers Drug Mart Corp (2,400) CAD (86,766) (1.42%) (247)

Silver Standard Resources Inc (1,200) CAD (20,868) (0.34%) (1,109)

Singapore Post Ltd 40,000 SGD 45,680 0.56% (149)

SKF AB 1,529 SEK 209,448 0.48% (895)

Sony Financial Holdings Inc 8 JPY 2,468,000 0.48% (2,488)

Sprint Nextel Corp 4,100 USD 19,270 0.33% (2,531)

Stagecoach Group Plc 18,267 GBP 33,476 0.87% (2,706)

Stanley Black & Decker Inc (900) USD (46,811) (0.79%) (938)

Stericycle Inc (300) USD (19,761) (0.34%) (87)

STMicroelectronics NV 2,229 EUR 15,068 0.33% (3,377)

STMicroelectronics NV (Sicovam) 4,580 EUR 31,034 0.67% (7,019)

Svenska Handelsbanken AB 752 SEK 154,912 0.36% (1,178)

Symantec Corp 1,849 USD 27,587 0.47% (1,725)

Telephone & Data Systems Inc 846 USD 27,140 0.46% (1,047)

Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)

Tokio Marine Holdings Inc 600 JPY 1,447,200 0.28% (909)

Toro Co 400 USD 20,128 0.34% (200)

Toyo Suisan Kaisha Ltd 1,000 JPY 2,038,000 0.39% (2,365)

Toyota Motor Corp 600 JPY 1,905,000 0.37% (1,754)

TransAlta Corp (1,200) CAD (25,104) (0.41%) (158)

Trend Micro Inc 500 JPY 1,272,500 0.25% (1,199)

TUI AG 2,338 EUR 18,849 0.41% (539)

Tullow Oil Plc (1,527) GBP (17,454) (0.45%) (922)

USS Co Ltd 180 JPY 1,148,400 0.22% (296)

Vishay Intertechnology Inc 4,300 USD 35,432 0.60% (2,026)

Wal-Mart Stores Inc (800) USD (40,328) (0.69%) (76)

Weatherford International Ltd (400) USD (5,924) (0.10%) (100)

Yamato Holdings Co Ltd 4,100 JPY 4,512,255 0.87% (4,298)

Yara International ASA (270) NOK (57,105) (0.16%) (1,194)

Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Total net unrealised loss on equity swaps EUR (78,570)

12. Swing Pricing PolicySecurities are valued as outlined in note 2(b). However, in order to mitigate the effects of dilution, the Fund has implemented a policy of “Swing

Pricing” as from December 18, 2007.

In the best interest of Shareholders, the Directors may allow for the net asset value to be adjusted, using bid or ask market quotation rather than

mid, depending on the net share activity arising from subscriptions, redemptions or switching in a sub-fund for a given business day.

The sub-funds operate partial swing only. That is the sub-funds will not swing to either a bid or ask price basis daily, but only when a pre

determined level of shareholder activity is exceeded. High redemption level triggers a swing to a bid price basis, whereas high subscription level

triggers a swing to ask price basis. The Directors have the ability to place a sub-fund on constant swing depending on the recent trends in a

sub-fund



124 Invesco Funds

12. Swing Pricing Policy (continued)The reconciliation on 31 August 2010 of MID to BID/ASK pricing is as follows:

BID Pricing A Dist. A Accum Dist A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I AccumHedg Hedg (EUR) C Hedg (GBP)

Invesco US Structured Equity Fund Mid Valuation - 11.50 - 6.38 10.67 - 11.93 6.63 - 8.53 9.12 Bid Valuation - 11.48 - 6.36 10.65 - 11.91 6.62 - 8.52 9.11

Invesco Nippon Small/Mid Cap Equity Fund Mid Valuation - 516.56 - - 460.00 - 547.33 - - 4.47 4.88Bid Valuation - 514.91 - - 458.53 - 545.58 - - 4.46 4.87

Invesco Global Leisure Fund Mid Valuation - 15.33 - - 13.47 - 16.17 - - 11.20 - Bid Valuation - 15.30 - - 13.45 - 16.14 - - 11.18 -

Invesco Capital Shield 90 (EUR) Fund Mid Valuation - 10.65 - - - - 10.99 - - 10.27 10.93 Bid Valuation - 10.64 - - - - 10.98 - - 10.26 10.92

ASK Pricing

Invesco Asia Consumer Demand FundMid Valuation 11.01 11.16 - 8.13 - - 11.33 8.36 - 8.66 - Ask Valuation 11.06 11.21 - 8.17 - - 11.38 8.39 - 8.69 -

Invesco Euro Corporate Bond Fund Mid Valuation 11.1622 13.0710 - - - - 13.2521 - - 12.9437 - Ask Valuation 11.2119 13.1292 - - - - 13.3111 - - 13.0013 -

Invesco Emerging Local Currencies Debt FundMid Valuation 10.7805 13.7574 8.2435 7.6483 - - 13.9901 8.5568 - 10.7191 - Ask Valuation 10.7983 13.7802 8.2571 7.6610 - - 14.0133 8.5701 - 10.7369 -

Invesco Asia Balanced FundMid Valuation 14.93 19.31 - 11.21 - - 19.69 14.59 - 12.39 - Ask Valuation 14.98 19.37 - 11.25 - - 19.75 14.63 - 12.42 -

13. Changes in InvestmentsA list, specifying for each investment the total purchases and sales which occurred during the period under review, may be obtained, upon requestand free of charge, at the Registered Office and the Hong Kong Representative Office of the Fund.

14. Distributor StatusCertification as a “distributing fund” under the United Kingdom Income and Corporation Taxes Act 1988 for the purposes of UK taxation wassought and gained for the year ended 28 February 2010 for A and C Distribution Share Classes of the following Funds (where applicable);

Invesco Global Structured Equity Fund Invesco Asia Consumer Demand FundInvesco US 130/30 Equity Fund Invesco Asia Pacific Real Estate Securities FundInvesco Pan European Equity Fund Invesco Global Bond FundInvesco Pan European Small Cap Equity Fund Invesco Euro Corporate Bond FundInvesco Pan European Equity Income Fund Invesco UK Investment Grade Bond FundInvesco Asia Infrastructure Fund Invesco Global Investment Grade Corporate Bond FundInvesco India Equity Fund Invesco Global Growth Equity Fund

15. Stock Lending The Fund entered into a stock lending agreement with State Street in November 2007.

There were no securities on loan at 31 August 2010.

Security lending income is recorded under “Other Income” in the Statement of Operations and Changes in Net Assets (disclosed at year end only).

16. Soft Commissions & Related Party Transactions

Certain subsidiaries of Invesco Ltd. (“the Group”) consistent with obtaining the best net result, including best execution, may enter into agreementswith counterparties whereby those counterparties may make payments for investment services provided to the Group.

Investment services are used by the Group to improve or add to the services provided to its clients. Although each and every service may not be usedto service each and every account managed by the Group, the Group considers that those investment services received are, in the aggregate, ofsignificant assistance in fulfilling its investment responsibilities and are of demonstrable benefit to all clients. Only services that assist in the provisionof investment services to the Group’s clients will be paid for by counterparties.

Allowable investment services include services that provide assistance to the Group in its investment performance. Those services include, but are notnecessarily limited to, furnishing analysis, research and advisory services including economic factors and trends, portfolio valuation and analysis,performance measurement, market prices services and the use of specialised computer software and hardware or other information facilities.

The Group will ensure adherence to its investment decision making responsibilities to its clients in accordance with the laws of the countries that havejurisdiction over its clients or business. This may vary in application with respect to the appropriateness of those investment services provided.

The Group selects counterparties to execute transactions on the basis that transactions will only be executed provided the placing of orders will notoperate against the best interest of the Group’s clients and that the multiple is at a level which is generally accepted market practice. The Group willendeavour to obtain best execution on all transactions for all clients.

In addition, clients may direct the Group to pay commission to counterparties for products and services that would otherwise have to be paid for. Insuch cases, the commission is used for the exclusive benefit of the client whose transactions generated that commission.

The Group will endeavour to maintain the highest possible regulatory standards worldwide.



125 Invesco Funds

Erläuterungen zu den Finanzausweisen

1. AllgemeinesInvesco Funds (der “Fonds”) ist eine Investmentgesellschaft, die nach Teil I des Luxemburger Gesetzes vom 20. Dezember 2002 über Organismen

für gemeinsame Anlagen als eine Société Anonyme (S.A.) in der Form einer Société d'Investissement à Capital Variable (“SICAV”) errichtet wurde.

Invesco Funds ist ein Umbrella-Fonds, der sich aus 41 Teilfonds zusammensetzt, die jeweils als separate Rechtseinheiten behandelt werden. Die

vorliegenden Finanzausweise wurden gemäß luxemburger Vorschriften erstellt.

(a) Invesco India (Mauritius) LimitedDie Anlage in indischen Wertpapieren wird über eine hundertprozentige mauritische Tochtergesellschaft, Invesco India (Mauritius) Limited, (die

“Tochtergesellschaft”) getätigt, die ausschließlich dem Zweck dient, im Namen des Fonds Investmentaktivitäten durchzuführen. Invesco India

(Mauritius) Limited ist eine hundertprozentige Tochtergesellschaft von Invesco India Equity Fund.

Die Tochtergesellschaft verfügt über eine globale Geschäftslizenz (Global Business Licence) der Kategorie 1 der mauritischen Aufsichtsbehörde für

Geschäftsaktivitäten in Offshore-Standorten (Mauritius Offshore Business Activities Authority). Daher gelten für ihre Erträge ein niedrigerer

mauritischer Ertragssteuersatz. Darüber hinaus fällt in Bezug auf die Investments der Tochtergesellschaft in Indien keine mauritische

Kapitalgewinnsteuer an. Alle Dividenden und Rücknahmeerlöse, die von der Tochtergesellschaft an den Invesco India Equity Fund gezahlt werden,

sind von der mauritischen Quellensteuer befreit.

(b) AnteilsklassenDie Anteile einiger Teilfonds werden in sechs Klassen angeboten (Klasse A, Klasse B, Klasse B1, Klasse C, Klasse E und Klasse I). Die Anteile der

Klasse A sind ohne Einschränkungen verfügbar. Anteile der Klasse B sind für Kunden von Vertriebsstellen oder Vermittlern, die speziell für den

Vertrieb von Anteilen der Klasse B ernannt wurden, erhältlich - und nur in Bezug auf die Fonds, für die entsprechende Vereinbarungen

abgeschlossen wurden. Anteile der Klasse C, für die ein höherer Mindesterstzeichnungsbetrag gilt und geringere Verwaltungsgebühren erhoben

werden, sind in erster Linie für größere oder institutionelle Anleger bestimmt. Für in Euro denominierte Anteile der Klasse E fällt eine niedrigere

Ausgabegebühr an, für Anteile der Klassen A bzw. C wird jedoch eine höhere jährliche Verwaltungsgebühr erhoben. Anteile der Klasse B1 sind nur

für Kunden von Merrill Lynch erhältlich. In Euro denominierte Anteile der Klasse I sind nur für institutionelle Anleger erhältlich, die einen

entsprechenden Verwaltungsvertrag mit Invesco abgeschlossen haben. Bei einigen der Teilfonds sind ausschüttende Anteilsklassen A bzw. C,

abgesicherte Anteilsklassen sowie Anteilsklassen mit einer festen Ausschüttung erhältlich.

Bei mehreren Teilfonds werden den Anlegern abgesicherte Anteilsklassen angeboten. Hierbei kann die SICAV das Wechselkursrisiko von

Anteilsklassen, die in einer anderen Währung als der Basiswährung des jeweiligen Fonds denominiert sind, absichern, mit dem Ziel, die

Auswirkungen von Wechselkursschwankungen zwischen der Währung der Anteilsklasse und der Basiswährung zu mindern.

(c) PortfolioaktivitätenGegen Euro abgesicherte Anteilsklassen A und CMit Wirkung zum 31. März 2010 wurden die abgesicherten Anteilsklassen A und C für folgende Teilfonds aufgelegt:





Invesco Euro Reserve Fund Mit Wirkung zum 31. März 2010 wurde die ausschüttende Anteilsklasse A mit jährlicher Ausschüttung für den Invesco Euro Reserve Fund aufgelegt.

Invesco Energy FundMit Wirkung zum 31. März 2010 wurde die ausschüttende Anteilsklasse A mit jährlicher Ausschüttung für den Invesco Energy Fund aufgelegt.

Invesco Global Absolute Return FundMit Wirkung zum 29. April 2010 wurde die gegen US-Dollar abgesicherte Anteilsklasse C für den Invesco Global Absolute Return Fund aufgelegt.

Invesco Balanced-Risk Allocation FundMit Wirkung zum 29. April 2010 wurden folgende Anteilsklassen für den Invesco Balanced-Risk Allocation Fund aufgelegt:

- Gegen USD abgesicherte Anteilsklasse A

- Gegen USD abgesicherte Anteilsklasse C

- Ausschüttende Anteilsklasse A mit jährlicher Ausschüttung

Invesco Global Investment Grade Corporate Bond FundMit Wirkung zum 29. April 2010 wurden folgende Anteilsklassen für den Invesco Global Investment Grade Corporate Bond Fund aufgelegt:

- Gegen GBP abgesicherte thesaurierende Anteilsklasse C

- In USD denominierte ausschüttende Anteilsklasse A mit monatlicher Ausschüttung

Invesco Global Structured Equity FundMit Wirkung zum 29. April 2010 wurden folgende Anteilsklassen für den Invesco Global Structured Equity Fund aufgelegt:- Gegen EUR abgesicherte Anteilsklasse A- Gegen EUR abgesicherte Anteilsklasse C- Gegen GBP abgesicherte thesaurierende Anteilsklasse C

Invesco Pan European Structured Equity FundMit Wirkung zum 29. April 2010 wurde die ausschüttende Anteilsklasse A mit jährlicher Ausschüttung für den Invesco Pan European Structured

Equity Fund aufgelegt.

Invesco Gold & Precious Metals FundDer Invesco Gold & Precious Metals Fund wurde am 21. Juni 2010 aufgelegt.

Invesco Global Unconstrained Bond FundDer Invesco Global Unconstrained Bond Fund wurde am 21. Juni 2010 aufgelegt.


126 Invesco Funds

Erläuterungen zu den Finanzausweisen - (Fortsetzung)

1. Allgemeines (Fortsetzung)Invesco Emerging Markets Quantitative Equity FundDer Invesco Emerging Markets Quantitative Equity Fund wurde am 21. Juni 2010 aufgelegt.

Invesco Latin American Equity FundDer Invesco Latin American Equity Fund wurde am 11. August 2010 aufgelegt.

Invesco Absolute Return Bond FundMit Wirkung zum 11. August 2010 wurde die gegen den britischen Pfund abgesicherte Anteilsklasse C für den Invesco Absolute Return Bond Fund aufgelegt.

Invesco Emerging Local Currencies Debt FundMit Wirkung zum 11. August 2010 wurde die gegen den Euro abgesicherte ausschüttende Anteilsklasse A mit monatlicher Ausschüttung für den

Invesco Emerging Local Currencies Debt Fund aufgelegt.

Invesco Global Total Return (EUR) Bond FundDer Invesco Global Total Return (EUR) Bond Fund wurde am 15. September 2010 aufgelegt.

Invesco Global Absolute Return FundMit Wirkung zum 15. September 2010 wurde die gegen JPY abgesicherte Anteilsklasse C für den Invesco Global Absolute Return Fund aufgelegt.

Änderungen der Organisationsstruktur- Mit Wirkung zum 1. März 2010 hat die BNY Mellon (International) Limited die RBC Dexia Investor Services Bank S.A. in ihrer Funktion als

Verwaltungsstelle sowie Register- und Transferstelle abgelöst.

- Mit Wirkung zum 1. März 2010 hat die BNY Mellon (International) Limited die RBC Dexia Investor Services Bank S.A. in ihrer Funktion als

Domizilstelle und Gesellschaftsbeauftragte abgelöst.

- Mit Wirkung zum 1. März 2010 hat die Bank of New York Mellon Limited, Zweigstelle Luxemburg, die J.P.Morgan Bank Luxembourg S.A. in ihrer

Funktion als Depotbank und Zahlstelle abgelöst.

- Mit Wirkung zum 1. März 2010 wurde der eingetragene Gesellschaftssitz von Invesco Funds von 69, route d'Esch, L-1470 Luxemburg,

Großherzogtum Luxemburg an die Adresse 46A, Avenue John F. Kennedy, L-1855 Luxemburg, Großherzogtum Luxemburg verlegt. Mit Wirkung

zum 15. Mai 2010 wurde der eingetragene Gesellschaftssitz an die Adresse 2-4 rue Eugène Ruppert, L-2453 Luxemburg, Großherzogtum

Luxemburg verlegt.

(d) PEA Disclosure (Plan d’Epargne en Actions)Vom 1. März 2010 bis 31. August 2010 hatten folgende Teilfonds zu jedem Zeitpunkt den in der Tabelle aufgeführten durchschnittlichen

prozentualen Anteil ihres Vermögens in für einen PEA zugelassenen Wertpapieren gemäß Artikel L.221-31 des Code Monétaire et Financier (CMF)

angelegt. Dies ist für Teilfonds vorgeschrieben, die in Frankreich zugelassen sind und die Anforderungen an Aktiensparpläne (PEA) erfüllen. Die

maximalen prozentualen Anlagen während dieses Zeitraums sind ebenfalls aufgeführt.


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Wichtige Grundsätze der Rechnungslegung(a) Die konsolidierten Zahlen in der Aufstellung der Vermögenswerte und der Aufstellung der Veränderungen des Nettovermögens dienen

lediglich statistischen Zwecken und sollten bei Anteilinhabern mit Anteilen in einem oder mehreren Teilfonds keinerlei Anwendung finden.

(b) Bewertung des WertpapierbestandesAnlagen, einschließlich Finanzderivate, werden in der Regel auf der Grundlage des letzten Handelspreises oder des letzten verfügbaren

Mittelkurses (der Durchschnitt aus dem letzten Ankaufskurs und Verkaufskurs) dieser Wertpapiere auf dem relevanten Wertpapiermarkt, an dem

die Anlagen des Fonds zu dem Bewertungszeitpunkt an dem Tag gehandelt werden bzw. notieren, bewertet. Wenn Anlagen eines Teilfonds

gleichzeitig an einer Börse notieren und von Marktmachern außerhalb der Börse gehandelt werden, an dem die Anlage notiert ist, dann bestimmt

die SICAV den Hauptmarkt für die betreffende Anlage, die zum letzten auf diesem Markt verfügbaren Kurs bewertet wird. Nicht an einer Börse

notierende bzw. gehandelte Wertpapiere, die jedoch an einem anderen regulierten Markt gehandelt werden, werden so weit wie möglich wie oben

beschrieben bewertet. Wenn für keines dieser vom Teilfonds gehaltenen Wertpapiere ein Kursgebot zur Verfügung steht, oder wenn der wie oben

beschrieben ermittelte Wert nicht dem Fair Value des jeweiligen Wertpapiers entspricht, dann basiert der Wert dieses Wertpapiers auf dem

wahrscheinlichen Verkaufspreis, der sorgfältig und in gutem Glauben zu ermitteln ist.

Folglich kann der Wert der obenstehenden Anlagen deutlich von dem Wert abweichen, der im Falle ihres Verkaufs erzielt worden wäre. Der

Bewertungsprozess wurde jedoch konsequent und in Übereinstimmung mit dem im Verkaufsprospekt genannten Grundsatz angewandt.

Die Finanzausweise wurden auf der Basis der zuletzt im Rechnungszeitraum berechneten Nettovermögenswerte erstellt. Die Nettovermögenswerte

wurden gemäß Verkaufsprospekt anhand der letzten am 31. August 2010 um 10:00 Uhr (Dubliner Zeit) verfügbaren Preise berechnet. Für Zeichnungen

und Rücknahmen von Anteilen ausschüttender Teilfonds, die zum 31. August 2010 ex Dividende notiert waren, wurden Anpassungen vorgenommen.

(c) Zu Ihrer Information:Wären die Nettovermögenswerte des Fonds ausschließlich mit Blick auf die Veröffentlichung berechnet wurden, wären die zur Bewertung des

Anlageportfolios herangezogenen Marktpreise für das gesamte Anlageportfolio, einschließlich amerikanischer und europäischer Aktien, die

Schlusskurse zum 31. August 2010 gewesen. Diese Nettovermögenswerte wären jedoch nicht wesentlich von denen im geprüften Jahresabschluss

abgewichen. Eine Ausnahme davon bilden folgende Teilfonds:

- Invesco Emerging Europe Equity Fund: Es wäre eine Zunahme des Nettovermögenswerts um ungefähr 1,48 % zu beobachten gewesen.- Invesco Latin American Equity Fund: Es wäre eine Zunahme des Nettovermögenswerts um ungefähr 1,14 % zu beobachten gewesen.


127 Invesco Funds


2. Wichtige Grundsätze der Rechnungslegung (Fortsetzung)

(d) Kosten aus dem Verkauf von WertpapierenDie Feststellung von Gewinnen bzw. Verlusten aus dem Verkauf von Wertpapieren erfolgt auf der Basis von Durchschnittskosten.

(e) Erträge aus WertpapieranlagenDividendenerträge werden auf einer ex-Dividenden Basis bewertet. Einkommen aus festverzinslichen Wertpapieren und Zinsen aus Bankguthaben

werden täglich verbucht.

(f) FremdwährungenTransaktionen in anderen Währungen als den Währungen der einzelnen Teilfonds werden zu dem Devisenkurs umgerechnet, der zum Zeitpunkt der

Transaktion vorgeherrscht hat. Der Marktwert von Anlagen und sonstigen Vermögenswerten und Verbindlichkeiten in anderen Währungen als den

Währungen der einzelnen Teilfonds werden zu dem Wechselkurs umgerechnet, der am Jahresende vorherrscht.

Zum 31. August 2010 wurden hauptsächlich folgende Wechselkurse verwendet:

Währung 1.00 USD Währung 1.00 USD


(g) KostenaufteilungDie einem einzelnen Teilfonds entstandenen Kosten werden diesem unmittelbar belastet* Falls solche Kosten nicht einem bestimmten Teilfonds

zuzuordnen sind, werden sie den verschiedenen Teilfonds auf der Basis der Fondsvermögen der jeweiligen Teilfonds belastet.

(h) GründungskostenDie Gründungskosten werden über die ersten fünf Jahre abgeschrieben. Für die seit 2006 aufgelegten Teilfonds gilt in jedem Rechnungszeitraum

eine maximale Abschreibung von 0,05 % des durchschnittlichen Nettovermögenswerts. Aufwendungen, die nach Ablauf der 5 Jahre oder zum

Auflösungsdatum nicht abgeschrieben sind, werden von der Verwaltungsgesellschaft getragen.

(i) DevisenterminkontrakteUnrealisierte Gewinne bzw. Verluste aus offenen Devisenterminkontrakten werden als Differenz zwischen dem vertraglich vereinbarten Kurs und

dem zur Glattstellung des Kontraktes herangezogenen Kurs berechnet. Realisierte Gewinne bzw. Verluste umfassen Nettogewinne aus Kontrakten,

die durch andere Kontrakte beglichen bzw. ausgeglichen wurden (für Einzelheiten siehe Erläuterung 7). Realisierte Gewinne bzw. Verluste

umfassen Endergebnisse aus Kontrakten, die durch andere Kontrakte beglichen bzw. ausgeglichen wurden und in der Aufwands- und

Ertragsrechnung sowie Veränderung des Nettovermögens aufgeführt sind (nur zum Jahresende ausgewiesen).

(j) TerminkontrakteDerivative Finanzinstrumente werden zunächst mit den Anschaffungskosten erfasst und anschließend zu ihrem Fair Value neu bewertet. Der Fair

Value wird auf der Grundlage der quotierten Marktpreise und Wechselkurse bestimmt. Bei an den Fonds zahlbaren Beträgen werden die Derivate

als Aktiva und bei vom Fonds zahlbaren Beträgen als Passiva verbucht. Änderungen des Fair Value von Terminkontrakten sind in der Aufstellung

des Nettovermögens ersichtlich (für Einzelheiten siehe Erläuterung 8).

(k) Credit Default SwapsEin Credit Default Swap ist ein Kreditderivat, bei dem zwei Parteien (Sicherungsnehmer und Sicherungsgeber) eine Vereinbarung abschließen,

wonach der Sicherungsnehmer dem Sicherungsgeber für die festgelegte Dauer der Vereinbarung regelmäßig eine festgelegte Prämie zahlt. Der

Sicherungsgeber leistet dagegen nur dann eine Zahlung, wenn in Bezug auf das Referenzaktivum ein Kreditereignis eintritt. In diesem Fall wird der

Sicherungsgeber an den Sicherungsnehmer eine Zahlung tätigen, und der Swap ist beendet. Die Credit Default Swaps werden täglich gemäß den

aktuellen Marktkursen entsprechend den Quotierungen der Marktmacher neu bewertet und in der Aufstellung der Vermögenswerte aufgeführt (für

Einzelheiten siehe Erläuterung 9).

(l) ZinsswapsEin Zinsswap ist eine bilaterale Vereinbarung, bei der sich beide Parteien darauf einigen, ihre Zinsverpflichtungen (i. d. R. fest/variabel),

gegeneinander auszutauschen. Derartige Vereinbarungen basieren für Kalkulierungszwecke auf einem Nominalbetrag, der i. d. R. nicht

ausgetauscht wird. Die Zinsswaps werden täglich gemäß den aktuellen Marktkursen entsprechend den Quotierungen der Marktmacher neu

bewertet und in der Aufstellung der Vermögenswerte aufgeführt (für Einzelheiten siehe Erläuterung 10).

(m) Equity SwapsEin Equity Swap ist ein Derivat, bei dem der Fonds und der Vertragspartner eine Vereinbarung abschließen, wonach eine Partei die von einer Aktieoder einem Aktienkorb erzielte Rendite zahlt. Die andere Partei zahlt Zinsen auf Grundlage des vereinbarten Nominalbetrags der Transaktion. Dieaus Aktienswaps eingenommenen/gezahlten Zinsen werden unter “Sonstige Erträge/Sonstige Aufwendungen” in der Aufwands- und


128 Invesco Funds


2. Wichtige Grundsätze der Rechnungslegung (Fortsetzung)(m) Equity Swaps (Fortsetzung)Ertragsrechnung sowie Veränderung des Nettovermögens aufgeführt. Der Wert der Aktienswaptransaktion ist der Nettobarwert aller zu- undabfließenden Barmittel. Aktienswaps sind in der Aufstellung des Nettovermögens aufgeführt (Einzelheiten siehe Erläuterung 11).

3. Gebühren für die Verwaltung und AnlageberatungDer Verwaltungsrat des Fonds (der “Verwaltungsrat”) ist verantwortlich für die Anlagestrategie, das Management und die Verwaltung des Fonds.Der Verwaltungsrat delegiert das tagtägliche Investmentmanagement des Wertpapierportfolios des Fonds an die Invesco Management S.A. (die“Verwaltungsgesellschaft”).

Die Verwaltungsgesellschaft wird bei der Umsetzung der vom Verwaltungsrat des Fonds vorgegebenen Anlagestrategie ggf. von Invesco AssetManagement Limited in Großbritannien, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers in den USA,Invesco Institutional in Kanada und Invesco Asset Management Deutschland GmbH in Deutschland unterstützt.

Die Verwaltungsgesellschaft erhält vom Fonds für die erbrachten Dienstleistungen gemäß der folgenden Tabelle einen Prozentsatz desFondsvermögens aus jedem Teilfonds.

Fonds Verwaltungs- Verwaltungs- Verwaltungs- Verwaltungs- Verwaltungs- gebühr gebühr gebühr gebühr gebühr

Klasse A Klasse B (inkl. 1% Klasse B1 Klasse C Klasse EAusschüttungsgebühr)

AKTIENFONDSGlobalInvesco Global Structured Equity Fund 1.00% - - 0.60% 1.50%

AmerikaInvesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50%Invesco US 130/30 Equity Fund 1.50% - - 1.00% 2.25%Invesco Latin American Equity Fund 1.50% - - 1.00% 2.25%

EuropaInvesco Pan European Structured Equity Fund 1.30% 2.30% - 0.80% 2.25%Invesco Pan European Equity Fund 1.50% 2.50% - 1.00% 2.00%Invesco Pan European Small Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco European Growth Equity Fund 1.50% - - 1.00% 2.25%Invesco Pan European Equity Income Fund 1.50% - - 1.00% 2.00%Invesco Pan European 130/30 Equity Fund 1.50% - - 1.00% 2.00%Invesco Emerging Europe Equity Fund 1.50% 2.50% - 1.00% 2.25%



AsienInvesco Asia Opportunities Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Greater China Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Infrastructure Fund 1.50% - - 1.00% 2.25%Invesco India Equity Fund 1.50% - - 1.00% 2.25%Invesco Asia Consumer Demand Fund 1.50% - - 1.00% 2.25%

THEMENFONDSInvesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25%Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Pacific Real Estate Securities Fund 1.50% - - 1.00% 2.00%Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75%Invesco Emerging Markets Quantitative Equity Fund 1.25% - - 0.75% 1.75%Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00%

RESERVEFONDSInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50%Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50%

RENTENFONDSInvesco Global Bond Fund 0.75% - - 0.50% 0.90%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00%Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Euro Inflation-Linked Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco UK Investment Grade Bond Fund 0.625% - - - -Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00%Invesco Global Investment Grade Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Global Unconstrained Bond Fund 1.50% - - 1.00% 2.00%

STRUKTURIERTE FONDSInvesco Capital Shield 90 (EUR) Fund 1.00% 2.00% - 0.60% 1.50%

MISCHFONDSInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75%

Die Verwaltungsgebühren werden täglich auf der Basis des an den jeweiligen Geschäftstagen geltenden Nettovermögenswerts der einzelnenTeilfonds errechnet und monatlich ausbezahlt. Die Gebühren des Anlageberaters werden aus der Vergütung der Verwaltungsgesellschaft bestritten.

Für den Berichtszeitraum verzichtete die Verwaltungsgesellschaft teilweise auf die Verwaltungsgebühren für den Invesco USD Reserve Fund undden Invesco Euro Reserve Fund. Dieser Verzicht gilt für alle Anteilsklassen.

Bei „I“-Anteilen fällt keine jährliche Verwaltungsgebühr an.


129 Invesco Funds


4. Sonstige GebührenAn die Verwaltungsgesellschaft wird von jedem Fonds eine zusätzliche Gebühr (die „Betreuungsgebühr“) entrichtet.

Die Betreuungsgebühr für die Anteile der Klassen A und E darf bei Aktienfonds oder bei Themenfonds 0,40 %, bei Rentenfonds 0,27 %, beistrukturierten Fonds 0,20 %, bei Reservefonds 0,13 %, beim Invesco Asia Balanced Fund 0,35 % sowie beim Invesco Pan European High Income Fundund Invesco Global Absolute Return Fund 0,40 % des Nettovermögenswerts der einzelnen Fonds nicht übersteigen.

Die Betreuungsgebühr für die Anteile der Klassen B, B1 und C darf bei Aktienfonds und Themenfonds 0,30 %, bei Reservefonds 0,10 %, beiRentenfonds 0,20 % (außer beim Invesco Euro Inflation-Linked Bond Fund, bei dem die Gebühr 0,10 % nicht übersteigen darf), bei strukturierten Fonds0,15 % und bei Mischfonds 0,30 % des Nettovermögenswerts der einzelnen Fonds nicht übersteigen. Die Verwaltungsgesellschaft bestreitet aus dieserBetreuungsgebühr die Gebühren der Verwaltungsstelle, der Domizilstelle und des Gesellschaftsbeauftragten, der Register- und Transferstelle sowiedie Gebühren von Dienstleistern bzw. Gebühren, die an Orten entstehen, an denen der Fonds registriert ist. Alle diese Gebühren werden an jedemGeschäftstag aus dem Nettovermögenswert des Fonds errechnet (zu einem jeweils mit der Verwaltungsgesellschaft vereinbarten Satz) und monatlichausbezahlt. Darüber hinaus erstattet die Verwaltungsgesellschaft die Auslagen des Repräsentanten des Fonds in Hongkong.

In ihrer Eigenschaft als Depotbank erhält die Bank of New York Mellon (International) Limited gemäß den bankenüblichen Gepflogenheiten inLuxemburg ein Entgelt (eine Depotgebühr) in Höhe eines von Zeit zu Zeit mit dem Fonds zu vereinbarenden Satzes, der aber 0,2 % p.a. (bzw. 0,3 % fürden Invesco Asia Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund und Invesco Asia Consumer Demand Fund) des Vermögenswertsdes Fonds nicht überschreitet. Die Depotgebühr wird täglich berechnet und monatlich ausbezahlt. Darüber hinaus kann die DepotbankHandelsgebühren für die einzelnen Teilfonds erheben.

Für den Berichtszeitraum hat die Verwaltungsgesellschaft im eigenen Ermessen beschlossen, die für den Invesco USD Reserve Fund und den InvescoEuro Reserve Fund erhobenen Betriebsaufwendungen zu übernehmen.

Die Leitungsfirma hat übereingestimmt, operative Ausgaben zu bedecken, die zu den folgenden U-Bootenfonds an seiner Besonnenheit geladenwerden, an den folgenden Raten:

FundInvesco Asia Pacific Real Estate Securities Fund 0.10%Invesco Balanced-Risk Allocation Fund 0.05%Invesco Global Absolute Return Fund 0.10%Invesco Global Total Return (EUR) Bond Fund 0.05%Invesco Global Unconstrained Bond Fund 0.05%Invesco Gold & Precious Metals Fund 0.15%Invesco Latin American Equity Fund 0.15%Invesco Pan European Equity Income Fund 0.10%Invesco Pan European High Income Fund 0.05%Invesco Global Investment Grade Corporate Bond Fund 0.05%Invesco Emerging Market Quantitative Equity Fund 0.05%

5. SteuernDer Fonds ist gemäss Luxemburger Recht als ein Organismus für gemeinsame Anlagen eingetragen. Dementsprechend muss der Fonds derzeitkeine Luxemburger Ertrags- oder Kapitalgewinnsteuer abführen. Er muss allerdings eine jährliche „Taxe d’abonnement" in Höhe von jährlich 0,05 %des Nettoinventarwerts zahlen. Die beiden Reservefonds sowie die Anteilsklasse “I” unterliegen einem verminderten Jahressatz von 0,01 % desNettovermögenswerts. Diese Steuer ist vierteljährlich auf der Grundlage des Nettovermögenswerts des Fonds zum Ende des jeweiligen Quartals zuzahlen.

6. DividendenIn Übereinstimmung mit der Ausschüttungspolitik des Fonds werden Erträge in Form von Dividenden nur an die Inhaber von Anteilen der Klasse Aund Klasse C ausbezahlt (Ausschüttungsanteile).

Die monatlich ausschüttende Anteilsklasse A des Invesco Emerging Local Currencies Debt Fund zahlt eine Ausschüttung, die auf der vomVerwaltungsrat jährlich festgelegten Rendite basiert. Für den Zeitraum vom 01. März 2010 bis 31. August 2010 wurde die Rendite auf 6,5 %festgelegt. Zum 31. August 2010 wurden Verwaltungsgebühren sowie sonstige Gebühren und Aufwendungen in Höhe von insgesamt USD819.158 für den Berichtszeitraum statt mit den Erträgen der Anteilsklasse mit dem Kapital verrechnet. Folglich hat der Verwaltungsrat die Renditemit Wirkung zum 31. Oktober 2010 auf 5,50 % angepasst.

Die den Inhabern von Anteilen der Klassen A, C, E und I (Thesaurierungsanteilen) zustehenden Erträge werden im Fonds wieder angelegt undsteigern so den Wert der jeweiligen Anteile.

Anteilsart Ausschüttungs- Ausschüttungs- Ex-Tag Ausschüttungs- quote häufigkeit datum

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 halbährlich 31 August 2010* 21 September 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 halbährlich 31 August 2010* 21 September 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 halbährlich 31 August 2010* 21 September 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 vierteljärhlich 31 Mai 2010 21 Juni 2010A Dist 0.0206 vierteljärhlich 31 August 2010* 21 September 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 halbährlich 31 August 2010* 21 September 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 halbährlich 31 August 2010* 21 September 2010

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 monatlich 31 März 2010 21 April 2010A Dist 0.0291 monatlich 30 April 2010 21 Mai 2010A Dist 0.0310 monatlich 31 Mai 2010 21 Juni 2010A Dist 0.0295 monatlich 30 Juni 2010 21 Juli 2010A Dist 0.0310 monatlich 30 Juli 2010 23 August 2010A Dist 0.0299 monatlich 31 August 2010* 21 September 2010


130 Invesco Funds


6. Dividends (fortsetung)

Anteilsart Ausschüttungs- Ausschüttungs- Ex-Tag Ausschüttungs- quote häufigkeit datum

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 vierteljärhlich 31 Mai 2010 21 Juni 2010A Dist 0.0074 vierteljärhlich 31 August 2010* 21 September 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 monatlich 31 März 2010 21 April 2010A Dist USD 0.0638 monatlich 30 April 2010 21 Mai 2010A Dist USD 0.0602 monatlich 31 Mai 2010 21 Juni 2010A Dist USD 0.0603 monatlich 30 Juni 2010 21 Juli 2010A Dist USD 0.0628 monatlich 30 Juli 2010 23 August 2010A Dist USD 0.0630 monatlich 31 August 2010* 21 September 2010A Dist EUR 0.0207 monatlich # 31 August 2010* 21 September 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 monatlich 31 Mai 2010 21 Juni 2010A Dist 0.0370 monatlich 30 Juni 2010 21 Juli 2010A Dist 0.0197 monatlich 30 Juli 2010 23 August 2010A Dist 0.0308 monatlich 31 August 2010* 21 September 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 vierteljärhlich 31 Mai 2010 21 Juni 2010A Dist 0.2063 vierteljärhlich 31 August 2010* 21 September 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 vierteljärhlich 31 Mai 2010 21 Juni 2010A Dist 0.1153 vierteljärhlich 31 August 2010* 21 September 2010

*Vertrieb mit dem Datum ab 31. August und Bezahlungsdatum 21. September 2010 sind in den Bilanzen nicht widergespiegelt worden.

#Die erste Austeilung war 31 August 2010.

7. Währungsterminkontrakte

Zum 31. August 2010 bestanden folgende offenen Devisenterminkontrakte:

Invesco Global Structured Equity Fund Unrealisierter Angaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 1,653 USD Verkauf 1,288 EUR 20 07/09/2010Kauf 56.719 USD Verkauf 1,933 GBP 26 07/09/2010Kauf 260,000 SEK Verkauf 34,875 USD 259 15/09/2010Kauf 100,000 GBP Verkauf 151,672 USD 2,640 15/09/2010Kauf 423,843 USD Verkauf 270,000 GBP 7,200 15/09/2010Kauf 340,000 AUD Verkauf 294,049 USD 8,063 15/09/2010Kauf 820,000 CHF Verkauf 779,586 USD 25,946 15/09/2010Kauf 220,000,000 JPY Verkauf 2,570,078 USD 38,228 15/09/2010Kauf 4,151,492 USD Verkauf 4,280,000 CAD 112,893 15/09/2010

Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten 195,275

Kauf 6,433,478 USD Verkauf 587,200,002 JPY (528,324) 15/09/2010Kauf 2,093,121 USD Verkauf 2,340,000 CHF (205,592) 15/09/2010Kauf 2,662,213 USD Verkauf 1,800,000 GBP (115,408) 15/09/2010Kauf 2,951,280 USD Verkauf 2,400,000 EUR (92,298) 15/09/2010Kauf 2,143,847 USD Verkauf 2,500,000 AUD (77,568) 15/09/2010Kauf 768,305 USD Verkauf 6,000,000 SEK (42,501) 15/09/2010Kauf 750,000 EUR Verkauf 985,920 USD (34,802) 15/09/2010Kauf 1,200,000 CAD Verkauf 1,161,871 USD (29,554) 15/09/2010Kauf 300,000 GBP Verkauf 473,913 USD (10,976) 15/09/2010Kauf 2,450,000 SEK Verkauf 340,918 USD (9,839) 15/09/2010Kauf 670,000 AUD Verkauf 603,275 USD (7,936) 15/09/2010Kauf 95,268 EUR Verkauf 125,679 USD (4,864) 07/09/2010Kauf 84,081 GBP Verkauf 133,690 USD (3,935) 07/09/2010Kauf 591 USD Verkauf 468 EUR (3) 07/09/2010Kauf 1,254 USD Verkauf 813 GBP (2) 07/09/2010

Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten (1,163,602)

Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten USD (968,327)

Invesco US Structured Equity Fund Unrealisierter Angaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 30,948 USD Verkauf 24,096 EUR 391 07/09/2010

Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten 391

Kauf 549,329 EUR Verkauf 724,377 USD (27,735) 07/09/2010Kauf 29,514 USD Verkauf 23,329 EUR (74) 07/09/2010

Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten (27,809)



131 Invesco Funds


7. Währungsterminkontrakte (Fortsetung)

Invesco US 130/30 Equity Fund Unrealisierter Angaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 5,695 USD Verkauf 4,432 EUR 73 07/09/2010





Invesco Latin American Equity Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 1,982 USD Verkauf 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagBuy 2,720 USD Verkauf 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 24,329 USD Verkauf 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 35,067 EUR Verkauf 44,300 USD 171 07/09/2010Kauf 20,513 USD Verkauf 15,953 EUR 281 07/09/2010


Kauf 1,162,506 EUR Verkauf 1,512,253 USD (38,004) 07/09/2010Kauf 40,064 USD Verkauf 31,708 EUR (146) 07/09/2010



Invesco Energy Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 371,151 EUR Verkauf 468,867 USD 1,813 07/09/2010Kauf 1,798,149 USD Verkauf 1,375,050 EUR 54,361 07/09/2010


Kauf 9,286,651 EUR Verkauf 12,074,973 USD (297,976) 07/09/2010Kauf 365,180 USD Verkauf 288,713 EUR (953) 07/09/2010




132 Invesco Funds



Invesco Emerging Markets Quantitative Equity Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 3,149 USD Verkauf 2,019 GBP 32 07/09/2010Kauf 6,287 USD Verkauf 4,901 EUR 74 07/09/2010


Kauf 111,759 EUR Verkauf 147,355 USD (5,626) 07/09/2010Kauf 46,676 GBP Verkauf 74,201 USD (2,169) 07/09/2010Kauf 1,649 USD Verkauf 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 34,929 USD Verkauf 27,239 EUR 386 07/09/2010





Invesco Global Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 1,566,000 USD Verkauf 1,000,000 GBP 23,292 25/10/2010Kauf 3,862,220 USD Verkauf 3,000,000 EUR 57,761 20/09/2010

Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten USD 81,053

Invesco European Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 650,000 GBP Verkauf 786,378 EUR 4,379 29/10/2010Kauf 3,283,628 EUR Verkauf 2,690,000 GBP 11,109 29/10/2010


Kauf 410,132 EUR Verkauf 340,000 GBP (3,495) 29/10/2010Kauf 540,000 GBP Verkauf 660,244 EUR (3,307) 29/10/2010


Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten EUR 8,686

Invesco Absolute Return Bond Fund Unrealisierter Angaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 320,000 TRY Verkauf 208,727 USD 172 08/09/2010Kauf 70,000 GBP Verkauf 84,925 EUR 257 08/09/2010Kauf 324,465 EUR Verkauf 1,300,000 PLN 287 08/09/2010Kauf 4,130,000 CNY Verkauf 606,283 USD 522 10/12/2010Kauf 386,972 USD Verkauf 12,000,000 RUB 827 10/12/2010Kauf 88,921 GBP Verkauf 107,302 EUR 906 07/09/2010Kauf 40,700,000 PHP Verkauf 893,916 USD 1,307 17/09/2010Kauf 930,000 PEN Verkauf 331,669 USD 1,654 10/12/2010Kauf 451,905 EUR Verkauf 370,000 GBP 1,658 08/09/2010Kauf 212,198 USD Verkauf 1,550,000 ZAR 2,036 08/09/2010Kauf 821,073 EUR Verkauf 1,100,000 CAD 2,507 08/09/2010Kauf 432,051 USD Verkauf 20,220,000 INR 2,730 17/09/2010Kauf 223,350,000 HUF Verkauf 773,283 EUR 3,114 08/09/2010Kauf 1,327,629 USD Verkauf 9,000,000 CNY 3,935 10/12/2010Kauf 468,089 USD Verkauf 555,410,000 KRW 3,965 08/09/2010Kauf 810,000 USD Verkauf 632,996 EUR 5,724 08/09/2010Kauf 1,470,000 PEN Verkauf 517,606 USD 6,794 17/09/2010Kauf 3,310,000 ILS Verkauf 856,249 USD 7,686 07/09/2010Kauf 19,250,000 PHP Verkauf 414,246 USD 7,696 08/09/2010Kauf 224,454 USD Verkauf 257,000,000 KRW 8,117 17/09/2010Kauf 714,177 EUR Verkauf 5,650,000 NOK 8,626 08/09/2010Kauf 2,900,000 ARS Verkauf 719,782 USD 8,771 17/09/2010Kauf 5,650,000 NOK Verkauf 696,661 EUR 8,890 08/09/2010Kauf 9,810,000 SEK Verkauf 1,035,203 EUR 10,256 08/09/2010Kauf 2,550,000 ZAR Verkauf 331,143 USD 10,810 08/09/2010Kauf 650,000 CHF Verkauf 492,297 EUR 11,184 08/09/2010Kauf 1,360,000 MYR Verkauf 418,311 USD 11,467 17/09/2010Kauf 857,135 USD Verkauf 3,220,000 ILS 11,592 08/09/2010Kauf 1,830,986 USD Verkauf 12,350,000 CNY 13,630 27/09/2010Kauf 626,415 EUR Verkauf 770,000 USD 19,238 08/09/2010Kauf 1,124,433 EUR Verkauf 317,450,000 HUF 20,931 08/09/2010Kauf 2,720,000 PLN Verkauf 657,188 EUR 21,092 08/09/2010


133 Invesco Funds



Invesco Absolute Return Bond Fund ( fortsetung) Unrealisierter Angaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 705,629 EUR Verkauf 3,310,000 ILS 22,756 07/09/2010Kauf 37,800,000 JPY Verkauf 418,073 USD 23,693 08/09/2010


Kauf 4,224,053 EUR Verkauf 5,560,799 USD (160,871) 08/09/2010Kauf 2,442,312 EUR Verkauf 274,750,000 JPY (126,098) 08/09/2010Kauf 845,791 USD Verkauf 40,690,000 PHP (39,083) 17/09/2010Kauf 977,979 EUR Verkauf 25,050,000 CZK (31,517) 08/09/2010Kauf 1,022,162 EUR Verkauf 9,810,000 SEK (23,297) 08/09/2010Kauf 12,350,000 CNY Verkauf 1,841,223 USD (21,702) 27/09/2010Kauf 4,630,000 MXN Verkauf 295,998 EUR (18,594) 08/09/2010Kauf 1,488,037 USD Verkauf 2,050,000 SGD (18,517) 08/09/2010Kauf 662,872 EUR Verkauf 2,730,000 PLN (17,901) 08/09/2010Kauf 1,650,771 EUR Verkauf 1,370,000 GBP (16,357) 08/09/2010Kauf 13,340,000 CNY Verkauf 1,978,158 USD (13,969) 10/12/2010Kauf 499,207 EUR Verkauf 660,000 CHF (12,021) 08/09/2010Kauf 94,100,000 HUF Verkauf 339,062 EUR (11,957) 08/09/2010Kauf 420,968 USD Verkauf 36,700,000 JPY (11,127) 08/09/2010Kauf 12,000,000 RUB Verkauf 400,000 USD (11,102) 10/12/2010Kauf 709,677 USD Verkauf 363,000,000 CLP (9,659) 10/12/2010Kauf 257,000,001 KRW Verkauf 224,454 USD (8,117) 17/09/2010Kauf 303,178 USD Verkauf 1,240,000 ARS (7,370) 17/09/2010Kauf 434,751 EUR Verkauf 4,140,000 ZAR (6,736) 08/09/2010Kauf 270,000 USD Verkauf 219,129 EUR (6,223) 08/09/2010Kauf 2,050,000 SGD Verkauf 1,197,080 EUR (5,185) 08/09/2010Kauf 3,220,000 ILS Verkauf 848,740 USD (4,972) 08/09/2010Kauf 58,000,000 KZT Verkauf 396,717 USD (2,758) 17/09/2010Kauf 555,400,001 KRW Verkauf 466,091 USD (2,396) 08/09/2010Kauf 415,252 USD Verkauf 470,000 AUD (2,173) 08/09/2010Kauf 431,198 USD Verkauf 1,360,000 MYR (1,305) 17/09/2010Kauf 20,220,000 INR Verkauf 429,208 USD (488) 17/09/2010Kauf 208,877 USD Verkauf 320,000 TRY (54) 08/09/2010


Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 2,710,547 EUR Verkauf 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 1,400,000 EUR Verkauf 1,137,724 GBP 12,693 01/09/2010Kauf 5,806,757 GBP Verkauf 6,920,000 EUR 120,409 01/09/2010Kauf 3,040,390 GBP Verkauf 4,430,000 USD 169,917 01/09/2010


Kauf 1,900,000 USD Verkauf 1,313,016 GBP (81,888) 01/09/2010Kauf 1,794,291 GBP Verkauf 2,860,000 USD (58,881) 01/09/2010Kauf 3,477,960 GBP Verkauf 5,390,000 USD (16,730) 01/12/2010Kauf 4,525,139 GBP Verkauf 5,520,000 EUR (12,930) 01/12/2010


Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten GBP 132,590

Invesco Emerging Local Currencies Debt Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 32,236 EUR Verkauf 40,722 USD 158 07/09/2010Kauf 1,113,406 USD Verkauf 863,577 EUR 18,249 07/09/2010Kauf 3,056,400 TRY Verkauf 1,946,628 USD 37,386 12/10/2010Kauf 9,767,450 SGD Verkauf 7,052,310 USD 149,432 12/10/2010Kauf 464,999,999 PHP Verkauf 10,000,000 USD 220,603 27/09/2010Kauf 226,555,000 THB Verkauf 6,990,281 USD 246,472 06/10/2010


Kauf 34,047,913 EUR Verkauf 44,675,847 USD (1,497,502) 07/09/2010Kauf 11,030,760 USD Verkauf 9,000,000 EUR (382,720) 07/09/2010Kauf 87,763,000 CNY Verkauf 13,000,000 USD (106,354) 12/11/2010Kauf 89,820,000 RUB Verkauf 3,000,000 USD (102,851) 08/11/2010Kauf 33,725,000 CNY Verkauf 5,000,000 USD (45,091) 19/11/2010Kauf 22,262,499,999 IDR Verkauf 2,500,000 USD (37,399) 03/09/2010Kauf 2,400,000 USD Verkauf 7,568,400 MYR (7,113) 27/09/2010

Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten (2,179,030)

Summe unrealisierter (Verluste) aus offenen Devisenterminkontrakten USD (1,506,730)


134 Invesco Funds



Invesco Global Investment Grade Corporate Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 132,231 USD Verkauf 84,861 GBP 1,264 01/09/2010Kauf 1,154,570 USD Verkauf 745,000 GBP 5,527 01/12/2010Kauf 170,000 GBP Verkauf 254,124 USD 8,237 01/09/2010Kauf 4,625,638 USD Verkauf 3,640,000 EUR 10,196 01/12/2010Kauf 585,000 EUR Verkauf 718,458 USD 23,422 01/09/2010Kauf 1,755,679 USD Verkauf 1,340,000 EUR 56,331 01/09/2010


Kauf 4,186,915 EUR Verkauf 5,523,484 USD (213,788) 07/09/2010Kauf 3,727,116 USD Verkauf 3,035,000 EUR (121,783) 01/09/2010Kauf 1,201,799 USD Verkauf 830,000 GBP (79,141) 01/09/2010Kauf 150,000 EUR Verkauf 194,808 USD (4,582) 01/09/2010Kauf 89,554 GBP Verkauf 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 1,339,464 GBP Verkauf 1,600,001 EUR 24,518 20/09/2010


Kauf 43,600 GBP Verkauf 70,000 CHF (966) 20/09/2010Kauf 81,321 EUR Verkauf 67,528 GBP (702) 07/09/2010


Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten GBP 22,850

Invesco Capital Shield 90 (EUR) Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 100,000 GBP Verkauf 121,631 EUR 51 15/09/2010Kauf 834,387 EUR Verkauf 685,000 GBP 864 15/09/2010Kauf 55,899,999 JPY Verkauf 512,379 EUR 10,226 15/09/2010


Kauf 26,269,838 EUR Verkauf 33,850,000 USD (422,432) 15/09/2010Kauf 1,267,656 EUR Verkauf 138,700,001 JPY (29,043) 15/09/2010Kauf 33,500,000 JPY Verkauf 313,994 EUR (804) 15/09/2010Kauf 121,242 EUR Verkauf 100,000 GBP (441) 15/09/2010Kauf 95,000 GBP Verkauf 115,858 EUR (260) 15/09/2010



Invesco Asia Balanced Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 526,707 USD Verkauf 412,508 EUR 3,579 07/09/2010


Kauf 3,556,131 EUR Verkauf 4,674,162 USD (164,404) 07/09/2010



Invesco Pan European High Income Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 2,265,144 EUR Verkauf 1,850,000 GBP 14,527 29/10/2010


Kauf 1,789,848 EUR Verkauf 1,500,000 GBP (35,322) 20/09/2010Kauf 709,161 EUR Verkauf 600,000 GBP (20,871) 27/09/2010Kauf 656,403 EUR Verkauf 550,000 GBP (12,859) 13/09/2010Kauf 140,741 EUR Verkauf 190,000 CHF (6,525) 16/11/2010Kauf 2,608,938 EUR Verkauf 2,150,000 GBP (6,438) 16/11/2010Kauf 1,573,787 EUR Verkauf 2,000,000 USD (3,414) 29/10/2010Kauf 120,642 EUR Verkauf 100,000 GBP (1,022) 12/10/2010Kauf 303,693 EUR Verkauf 250,000 GBP (450) 25/10/2010




135 Invesco Funds



Invesco Global Absolute Return Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 528 EUR Verkauf 669 USD 1 07/09/2010Kauf 74,532 EUR Verkauf 100,000 CAD 108 01/09/2010Kauf 68,262 USD Verkauf 51,815 EUR 2,013 07/09/2010Kauf 5,000,000 JPY Verkauf 43,881 EUR 2,855 01/09/2010Kauf 1,200,000 USD Verkauf 935,490 EUR 10,755 01/09/2010Kauf 900,000 GBP Verkauf 1,080,049 EUR 15,206 01/09/2010


Kauf 1,986,806 EUR Verkauf 2,600,000 USD (63,392) 01/09/2010Kauf 736,761 EUR Verkauf 1,000,000 CHF (37,775) 01/09/2010Kauf 279,831 EUR Verkauf 31,000,000 JPY (9,935) 01/09/2010Kauf 1,300,000 CAD Verkauf 973,492 EUR (5,976) 01/09/2010Kauf 614,170 EUR Verkauf 800,000 CHF (5,620) 01/10/2010Kauf 700,000 GBP Verkauf 855,327 EUR (3,644) 01/10/2010Kauf 334,271 EUR Verkauf 36,000,000 JPY (2,355) 01/10/2010Kauf 156,981 EUR Verkauf 200,000 USD (730) 01/10/2010Kauf 73,919 EUR Verkauf 100,000 CAD (506) 01/09/2010Kauf 121,551 EUR Verkauf 100,000 GBP (144) 01/09/2010Kauf 594 EUR Verkauf 764 USD (8) 07/09/2010Kauf 600,000 CAD Verkauf 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund UnrealisierterAngaben zu den Devisenterminkontrakten Gewinn/(Verlust) FälligkeitstagKauf 122,772 GBP Verkauf 148,129 EUR 1,272 07/09/2010Kauf 136,947 USD Verkauf 103,941 EUR 4,048 07/09/2010Kauf 8,703,663 EUR Verkauf 10,702,000 USD 264,717 03/09/2010


Kauf 3,347,000 USD Verkauf 2,672,478 EUR (33,238) 03/09/2010Kauf 860,684 EUR Verkauf 1,100,000 USD (6,710) 03/09/2010Kauf 1,425 GBP Verkauf 1,740 EUR (6) 07/09/2010


Summe unrealisierter Gewinne aus offenen Devisenterminkontrakten EUR 230,083

8. Terminkontrakte

Beschreibung Anzahl der Kontrakte Wert der Kontrakte Long/Short Nicht realisierter Gewinn/(Verlust) in der

Basiswährung des TeilfondsInvesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Long (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Long (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Long (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Long (2,854)

Summe unrealisierter (Verluste) aus Terminkontrakten USD (69,760)


Summe unrealisierter (Verluste) aus Terminkontrakten USD (55,619)


Summe unrealisierter (Verlust) aus Terminkontrakten USD (3,031)

Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Long (251,895)FTSE 100 Index Future 17/09/2010 69 4,303,963 Long (26,928)

Summe unrealisierter (Verlust) aus Terminkontrakten EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Long (4,065)FTSE 100 Index Future 17/09/2010 1 62,726 Long (1,034)


Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Short (168,760)US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Short (27,344)Long Gilt Future 29/12/2010 (10) (1,939,476) Short (4,899)



136 Invesco Funds


8. Terminkontrakte (Fortsetung)


Basiswährung des TeilfondsInvesco European Bond FundEuro Bobl Future 08/09/2010 6 730,020 Long 5,490

Summe unrealisierter Gewinne aus Terminkontrakten 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Short (44,000)Euro Bund Future 08/09/2010 (16) (2,117,250) Short (33,710)Long Gilt Future 29/12/2010 (34) (5,193,777) Short (13,176)

Summe unrealisierter (Verlust) aus Terminkontrakten (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Short 2,860Euro Bund Future 08/09/2010 3 389,271 Long 14,034


US 10 Year Note Future 21/12/2010 (11) (1,092,052) Short (566)


Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Short (29,059)





Summe unrealisierter (Verlust) aus Terminkontrakten EUR (13,858,500)




Summe unrealisierter Gewinne aus Terminkontrakten 974




Summe unrealisierter (Verlust) aus Terminkontrakten 31,394

Summe unrealisierter (Verlust) aus Terminkontrakten GBP (30,420)

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Short 719









US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Short (914)




137 Invesco Funds


8. Terminkontrakte (Fortsetung)


Basiswährung des Teilfonds

Invesco Capital Shield 90 (EUR) FundUS 10 Year Note Future 21/12/2010 404 39,873,681 Long 53,95510 Year Mini JGB Future 08/09/2010 214 27,158,681 Long 267,653Euro Bund Future 08/09/2010 298 38,814,270 Long 1,247,360

Summe unrealisierter Gewinne aus Terminkontrakten 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Long (1,242,045)Nikkei 225 Future 09/09/2010 249 10,680,824 Long (923,938)DJ Euro Stoxx 50 Future 17/09/2010 347 9,459,120 Long (477,025)FTSE 100 Index Future 17/09/2010 143 8,990,297 Long (163,962)

Summe unrealisierter (Verlust) aus Terminkontrakten (2,806,970)

Summe unrealisierter (Verlust) aus Terminkontrakten EUR (1,238,002)

Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Long 2,25010 Year Mini JGB Future 08/09/2010 5 634,004 Long 8,590Euro Bund Future 08/09/2010 10 1,319,690 Long 24,660


S&P 500 EMINI 17/09/2010 13 563,239 Long (20,516)DJ Euro Stoxx 50 Future 17/09/2010 19 504,650 Long (12,835)Nikkei 225 Future 09/09/2010 5 211,722 Long (9,189)FTSE 100 Index Future 17/09/2010 4 250,095 Long (488)



Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Long 3,256Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Long 13,343Long Gilt Future 29/12/2010 28 4,257,975 Long 17,308Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Long 39,53310 Year Mini JGB Future 08/09/2010 67 8,635,365 Long 132,934Euro Bund Future 08/09/2010 42 5,427,430 Long 218,840


Russell 2000 Mini Future 17/09/2010 27 1,376,550 Long (81,086)S&P 500 EMINI 17/09/2010 39 1,700,904 Long (76,142)DJ Euro Stoxx 50 Future 17/09/2010 58 1,576,490 Long (75,160)Topix Index Future 09/09/2010 9 705,392 Long (47,829)Hang Seng Index Future 29/09/2010 14 1,453,370 Long (12,773)FTSE 100 Index Future 17/09/2010 25 1,561,823 Long (9,829)


Summe unrealisierter Gewinne aus Terminkontrakten EUR 122,395


Kauf/verkauf Unrealisierterder Asicherung Bezeichung Fälligkeitstermin Nominalwert Währung Gewinn/(Verlust)Invesco Absolute Return Bond FundKauf Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Summe unrealisierter Gewinne aus Credit Default Swap EUR 51,684

Invesco Global Unconstrained Bond FundKauf Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196

Summe unrealisierter Gewinne aus Credit Default Swap 2,196

Verkauf French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)Verkauf Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)Verkauf Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Summe unrealisierter (Verlust) aus Credit Default Swap (35,563)

Summe unrealisierter (Verlust) aus Credit Default Swap GBP (33,367)

Invesco Pan European High Income FundVerkauf Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411Verkauf British Energy 4.55% 20/03/2013 300,000 EUR 30,869Kauf Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145

Summe unrealisierter Gewinne aus Credit Default Swap EUR 102,425


138 Invesco Funds


10. Interest Rate Swaps Es gab keine Zins-Swaps auf einen neuen Fonds zum Ende des Berichtszeitraums 31 August 2010 statt

11. Equity Swaps

Invesco US 130/30 Equity FundZugrundeliegende Anzahl der Währung Engagement in Engagement in Nicht realisierter Aktie zugrundeliegenden lokaler Währung % des NAV Gewinn/(Verlust)

Anteile des Fonds in der Basiswährungdes Teilfonds

AK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340

Alere Inc (900) USD (25,866) (0.67%) 500

Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880

Amazon.com Inc (200) USD (25,214) (0.65%) 471

Bunge Ltd (100) USD (5,400) (0.14%) 198

Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588

Covance Inc (400) USD (16,224) (0.42%) 776

Cree Inc (200) USD (11,320) (0.29%) 120

Dean Foods Co (1,800) USD (18,126) (0.47%) 477

Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785

Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83

Electronic Arts Inc (300) USD (4,815) (0.13%) 233

FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644

Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846

Illumina Inc (600) USD (27,258) (0.71%) 1,230

Manulife Financial Corp (700) USD (8,540) (0.22%) 672

Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710

Mastercard Inc (50) USD (10,522) (0.27%) 393

McDermott International Inc (900) USD (11,889) (0.31%) 81

MGIC Investment Corp (400) USD (2,952) (0.08%) 60

MGM Resorts International (700) USD (6,965) (0.18%) 627

Monsanto Co (800) USD (46,160) (1.20%) 1,424

Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224

Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139

O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82

Perrigo Co (200) USD (11,750) (0.31%) 228


priceline.com Inc (50) USD (14,726) (0.38%) 247




SunPower Corp (2,100) USD (24,465) (0.64%) 2,341

Terex Corp (500) USD (9,745) (0.25%) 663

Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248

United States Steel Corp (400) USD (18,160) (0.47%) 1,402

Urban Outfitters Inc (100) USD (3,136) (0.08%) 67

Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120

Vulcan Materials Co (400) USD (15,300) (0.40%) 326

Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Summe unrealisierter Gewinne aus Equity Swaps 36,330

Agnico-Eagle Mines Ltd (500) USD (31,215) (0.81%) (1,230)

American Express Co 700 USD 29,078 0.75% (1,145)

Apple Inc 50 USD 12,382 0.32% (256)

AT&T Inc 4,000 USD 106,600 2.77% (60)

Babcock & Wilcox Co (450) USD (9,963) (0.26%) (502)

Chevron Corp 1,200 USD 93,252 2.42% (4,697)

Ciena Corp (2,200) USD (26,444) (0.69%) (1,683)

Clearwire Corp (1,800) USD (11,556) (0.30%) (81)

Coca-Cola Co 400 USD 22,352 0.58% (140)

ConocoPhillips 400 USD 21,972 0.57% (902)

Eli Lilly & Co 600 USD 21,342 0.55% (966)

Equinix Inc (300) USD (27,024) (0.70%) (158)

Exxon Mobil Corp 2,700 USD 161,676 4.20% (2,417)

General Electric Co 1,000 USD 15,460 0.40% (945)

Intel Corp 200 USD 4.144 0,08% (17)

Goldman Sachs Group Inc 100 USD 14,776 0.38% (1,111)

Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)


139 Invesco Funds


11. Equity Swaps (Fortsetung)

Invesco US 130/30 Equity Fund (fortsetung)MEMC Electronic Materials Inc (4,800) USD (49,776) (1.29%) (672)Microsoft Corp 4,700 USD 115,150 2.99% (4,019)Mosaic Co (700) USD (35,791) (0.93%) (4,277)NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)Old Republic International Corp (600) USD (7,470) (0.19%) (102)Pfizer Inc 4,700 USD 75,341 1.96% (846)Philip Morris International Inc 1,300 USD 67,587 1.75% (735)Plains Exploration & Production Co (1,300) USD (30,550) (0.79%) (1,073)Procter & Gamble Co 1,600 USD 95,632 2.48% (664)ProLogis (300) USD (3,060) (0.08%) (167)Silver Wheaton Corp (200) USD (4,088) (0.11%) (481)Wells Fargo & Co 2,000 USD 51,360 1.33% (4,849)

Summe unrealisierter (Verluste) aus Equity Swaps USD (44,706)

Summe unrealisierter (Verluste) aus Equity Swaps USD (8,376)

Invesco Pan European 130,30 Equity FundZugrundeliegende Anzahl der Währung Engagement in Engagement in Nicht realisierter Aktie zugrundeliegenden lokaler Währung % des NAV Gewinn,(Verlust)


Air France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178

Summe unrealisierte Gewinne aus Equity Swaps 139,121

Actelion Ltd (2,548) CHF (103,092) (1.63%) (5,342)Anglo American Plc 1,167 GBP 31,299 0.79% (5,878)Atkins WS Plc 7,278 GBP 50,143 1.28% (41)Barclays Plc 8,146 GBP 24,992 0.63% (1,282)BHP Billiton Plc 3,912 GBP 74,758 1.88% (6,394)British Land Co Plc 2,707 GBP 12,596 0.32% (648)BT Group Plc 60,437 GBP 84,491 2.13% (6,067)Compass Group Plc 15,159 GBP 80,707 2.06% (228)Credit Suisse Group AG 157 CHF 7,153 0.11% (180)Galp Energia SGPS SA (2,516) EUR (31,136) (0.65%) (830)HSBC Holdings Plc 18,828 GBP 122,457 3.09% (4,102)Indra Sistemas SA (6,705) EUR (86,083) (1.80%) (746)Investec Plc 1,721 GBP 8,471 0.21% (622)K & S AG (1,890) EUR (74,287) (1.55%) (2,835)Lonza Group AG (1,335) CHF (104,597) (1.57%) (5,481)Next Plc 3,658 GBP 78,720 1.99% (8,273)Orkla ASA (12,031) NOK (579,894) (1.54%) (4,536)Roche Holding AG 256 CHF 40,115 0.60% (3,613)Royal Dutch Shell Plc 'A' Shares 5,805 GBP 104,375 2.63% (6,174)Royal Dutch Shell Plc 'B' Shares 4,477 GBP 77,049 1.94% (3,862)Schroders Plc 760 GBP 10,374 0.26% (80)Stagecoach Group Plc 25,235 GBP 46,962 1.19% (4,715)Syngenta AG (405) CHF (94,431) (1.52%) (170)Tullow Oil Plc (546) GBP (6,339) (0.16%) (199)Verbund AG (2,504) EUR (68,635) (1.44%) (858)Whitbread Plc 227 GBP 3,375 0.09% (282)

Summe unrealisierte (Verluste) aus Equity Swaps (73,438)

Summe unrealisierte Gewinne aus Equity Swaps EUR 65,683


140 Invesco Funds


11. Equity Swaps (Fortsetzung)

Invesco Global Absolute Return Fund (Fortsetzung)Zugrundeliegende Anzahl der Währung Engagement in Engagement in Nicht realisierter Aktie zugrundeliegenden lokaler Währung % des NAV Gewinn,(Verlust)


Abertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294






BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915














Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391





Hubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



141 Invesco Funds






Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925



Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314




Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104













Terex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162






142 Invesco Funds






Summe unrealisierte Gewinne aus Equity Swaps USD 209,844



AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)


Amgen Inc 776 USD 41,066 0.70% (829)












Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)




Frontline Ltd 1,187 NOK 223,275 0.61% (3,301)

Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)







143 Invesco Funds









K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)






Masco Corp 1,698 USD 19,069 0.32% (1,094)










Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)






Ralcorp Holdings Inc (600) USD (33,288) (0.57%) (1,794)






Rhodia SA 1,221 EUR 18,724 0.41% (757)




Sara Lee Corp 907 USD 13,052 0.22% (34)



Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)




SKF AB 1,529 SEK 209,448 0.48% (895)


144 Invesco Funds















Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)


Toro Co 400 USD 20,128 0.34% (200)





TUI AG 2,338 EUR 18,849 0.41% (539)


USS Co Ltd 180 JPY 1,148,400 0.22% (296)






Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)

Summe unrealisierter Verlust aus Equity Swaps (288,414)

Summe unrealisierter (Verluste) aus Equity Swaps EUR (78,570)

12. “Swing Pricing”-VerfahrenWertpapiere werden wie in Erläuterung 2(b) beschrieben bewertet. Um den Effekt der Verwässerung zu mindern, geht der Fonds mit Wirkung vom

18. Dezember 2007 nach einem sogenannten “Swing Pricing”-Verfahren vor.

Im besten Interesse der Anteilsinhaber kann der Verwaltungsrat eine Anpassung des Nettoinventarwertes gewähren, wobei anstelle des

Mittelkurses je nach dem Nettoergebnis der Anteilstransaktionen im Zusammenhang mit Zeichnungen, Rückgaben oder dem Umtausch von

Anteilen an einem bestimmten Geschäftstag der Geldkurs oder der Briefkurs herangezogen wird.

Der “Swing Price” findet nur teilweise für den Teilfonds Anwendung. So wird der Preis nicht täglich an den Geld- oder Briefkurs angepasst,

sondern nur, wenn bei den Anteilstransaktionen ein vorher festgelegter Schwellenwert überschritten wird. Eine hohe Anzahl an Rückgaben hat

eine Anpassung an den Geldkurs zur Folge, während eine hohe Anzahl an Zeichnungen zu einer Anpassung an den Briefkurs führt. Der

Verwaltungsrat kann sich jedoch dazu entschließen, bei einem Teilfonds je nach den jüngsten Entwicklungen in einem Teilfonds kontinuierliche

Anpassungen vorzunehmen.

Die Überleitungsrechnung zum 31. August 2010 des Mittelkurses zum Bid- bzw. Ask-Kurs ist wie folgt:

BID Pricing A Dist. A Accum Dist. A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I AccumHedg Hedg (EUR) C Hedg (GBP)



BID Pricing A Dist. A Accum Dist. A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I AccumHedg Hedg (EUR) C Hedg (GBP)



ASK Pricing



145 Invesco Funds


12. Swing Pricing Policy (Fortsetzung)

Invesco Euro Corporate Bond Fund Mid Valuation 11.1622 13.0710 - - - - 13.2521 - - 12.9437 - Ask Valuation 11.2119 13.1292 - - - - 13.3111 - - 13.0013 - Invesco Emerging Local Currencies Debt FundMid Valuation 10.7805 13.7574 8.2435 7.6483 - - 13.9901 8.5568 - 10.7191 - Ask Valuation 10.7983 13.7802 8.2571 7.6610 - - 14.0133 8.5701 - 10.7369 -


13. Aufstellung der Veränderungen im WertpapierbestandEine Aufstellung aller Käufe und Verkäufe jedes Anlagewerts im Berichtsjahr ist auf Anfrage beim Sitz der Gesellschaft oder beim Repräsentanten

des Fonds in Hongkong kostenlos erhältlich.

14. Qualifizierung als ausschüttender Fonds

Die Qualifizierung als „ausschüttender Fonds“ nach dem UK Income and Corporation Taxes Act 1988 wurde für die Zwecke der Besteuerung imVereinigten Königreich für das zum 28. Februar 2010 endende Geschäftsjahr für die ausschüttenden Anteilsklassen „A“ und „C“ der folgendenFonds (sofern zutreffend) angestrebt: Zum 31. August 2010 gab es keine Ausleihungen. Die Erträge aus der Wertpapierleihe werden unter„Sonstige Erträge“ in der Aufwands- und Ertragsrechnung sowie Veränderung des Nettovermögens aufgeführt (nur zum Jahresende ausgewiesen).


15. Wertpapierleihe

Der Fonds hat im November 2007 mit State Street eine Vereinbarung über die Wertpapierleihe getroffen.

Es gab keine Sicherheit auf dem Darlehen am 31. August 2010.

Sicherheit leihend Einkommen wird unter dem “Anderen Einkommen” in der Behauptung von Operationen und Änderungen im Nettovermögen

(bekanntgegeben am Jahresende nur) registriert.

16. Vergünstigte Provisionen und Geschäfte mit verbundenen PersonenVerschiedene Tochtergesellschaften der Invesco Ltd (“die Gruppe”) können im Rahmen der Zielsetzung des Erreichens höchster Nettoerträge,

einschließlich bester Abwicklung, Vereinbarungen mit Vertragspartnern treffen, wobei diese Vertragspartner, für die für die Gruppe durchgeführte

Anlagedienstleistungen Zahlungen leisten.

Anlagedienstleistungen werden von der Gruppe genutzt, um die Leistungen für ihre Kunden zu verbessern oder zu ergänzen. Obgleich nicht jede

einzelne Dienstleistung für jedes von der Gruppe betreute Konto genutzt werden muss, ist die Gruppe der Meinung, dass diese Dienstleistungen

insgesamt eine nachhaltige Unterstützung bei der Wahrnehmung der Anlageverantwortung sind und für alle Kunden einen nachweisbaren Nutzen

darstellen. Dienstleistungen werden den Vertragspartnern nur dann bezahlt, wenn diese im Anlageinteresse der Kunden der Gruppe stehen.

Zulässige Anlagedienstleistungen sind solche, die die Gruppe hinsichtlich ihrer Anlagerendite unterstützen. Solche Dienste umfassen die

Bereitstellung von Analysen, Forschungs- und Beratungsleistungen, einschließlich ökonomischer Faktoren und Entwicklungen, Portefeuillebewertung

und -analyse, Renditenmessung, Marktpreisbeurteilungen und die Nutzung spezialisierter Computersoftware und -hardware oder anderer

Informationsdienste, sind jedoch nicht notwendigerweise auf diese Leistungen beschränkt.

Die Gruppe wird die Erfüllung ihrer Anlageentscheidungsaufgaben gegenüber ihren Kunden nach dem Recht der Länder, die über ihre Kunden oder

ihre Geschäftstätigkeit Zuständigkeit haben, gewährleisten. Die Anwendung dieser Regelung kann variieren, je nachdem, inwieweit die geleisteten

Anlagedienstleistungen als angemessen und vertretbar gelten.

Die Gruppe wählt zur Ausführung von Transaktionen Vertragsparteien unter der Voraussetzung aus, dass Transaktionen dann und nur dann

ausgeführt werden, wenn sie nicht gegen die besten Interessen der Kunden der Gruppe verstoßen, und unter der Voraussetzung, dass die Höhe der

Stückelungen allgemein anerkannten Marktstandards entspricht. Die Gruppe ist bestrebt, für ihre Kunden bei der Ausführung aller Transaktionen das

bestmögliche Ergebnis zu erzielen.

Zusätzlich können Kunden die Gruppe beauftragen, mit den Vertragsparteien für gelieferte Produkte und Dienstleistungen auf Provisionsbasis

abzurechnen. In diesen Fällen wird die Provision ausschließlich zum Nutzen des Kunden verwendet, für dessen Transaktion die Provision fällig ist.

Die Gruppe wird sich nach Kräften bemühen, die höchstmöglichen aufsichtsrechtlichen Standards weltweit einzuhalten.


146 Invesco Funds

Notes aux états financiers

1. GénéralitésInvesco Funds (le “ Fonds ”) est une société d'investissement constituée en société anonyme et dotée du statut de SICAV (Société d'Investissementà Capital Variable) au titre de la Partie I de la Loi luxembourgeoise sur les placements collectifs datée du 20 décembre 2002. Invesco Funds estune SICAV comprenant 41 compartiments, chacun étant une entité indépendante. Les États financiers ci-joints ont été préparés conformémentaux règles de présentation prévues par la loi luxembourgeoise.

(a) Invesco India (Mauritius) LimitedLes investissements en titres indiens sont réalisés par le biais d'une filiale mauricienne détenue à 100 %, Invesco India (Mauritius) Limited (la “

Filiale ”). Le seul objet de cette Filiale est d'effectuer des investissements pour le compte du Fonds. La Filiale est entièrement détenue par Invesco

India Equity Fund. La Filiale détient une Category 1 Global Business Licence (Licence d'activités internationale de catégorie 1) émise par la

Mauritius Offshore Business Activities Authority (Autorité mauricienne des activités commerciales étrangères). Par conséquent, elle bénéficie d'une

réduction sur l'impôt mauricien sur les revenus. En outre, aucun impôt mauricien sur les plus-values ne sera payé sur les investissements de la

Filiale en Inde, et tous les dividendes et produits de rachat payés par la Filiale à Invesco India Equity Fund seront exonérés de la retenue à la source

mauricienne.

(b) Catégories d'actionsLes Actions de certains Compartiments peuvent être disponibles dans six catégories (Catégorie A, Catégorie B, Catégorie B1, Catégorie C,

Catégorie E et Catégorie I). Les Actions de Catégorie A sont disponibles sans restriction. Les Actions de Catégorie B sont à la disposition des

clients des distributeurs ou des intermédiaires nommés spécifiquement aux fins de la distribution des Actions B et uniquement en rapport avec les

Compartiments pour lesquels des accords de distribution ont été conclus avec ces distributeurs. Les Actions de Catégorie C, mises à la disposition

de tous les investisseurs, ont un montant de souscription initial minimum plus élevé et bénéficient d'une commission de gestion réduite. Elles sont

destinées principalement aux investisseurs institutionnels et autres investisseurs importants. Les Actions de Catégorie E en euros ont un montant

de souscription initial plus bas, la commission de gestion annuelle étant supérieure à celle des Actions de Catégorie A ou C. Les Actions de

Catégorie B1 sont uniquement à la disposition des clients de Merrill Lynch. Les Actions de Catégorie I en euros sont uniquement destinées aux

investisseurs institutionnels ayant signé un contrat de gestion avec Invesco. Des Catégories d'Actions A et C, des Catégories d'actions couvertes et

des Catégories d'actions à distribution fixe sont proposées dans certains Compartiments.

Plusieurs compartiments proposent des catégories d’actions couvertes. Pour ces catégories d’actions, la SICAV peut couvrir l’exposition de changedes catégories d’actions libellées dans une devise autre que la devise de base du compartiment concerné afin de tenter d’atténuer l’impact desfluctuations des taux de change entre la devise de la catégorie d’actions et la devise de base.

(c) Activité du FondsCatégories d’actions couvertes « A » et « C » en eurosÀ compter du 31 mars 2010, les compartiments suivants ont lancé des catégories d’actions couvertes « A » et « C » :





Invesco Euro Reserve Fund À compter du 31 mars 2010, le compartiment Invesco Euro Reserve Fund a lancé une catégorie d’actions « A » à distribution annuelle.

Invesco Energy FundÀ compter du 31 mars 2010, le compartiment Invesco Energy Fund a lancé une catégorie d’actions « A » à distribution annuelle.

Invesco Global Absolute Return FundÀ compter du 29 avril 2010, le compartiment Invesco Global Absolute Return Fund a lancé une catégorie d’actions couverte « C » en dollars US.

Invesco Balanced-Risk Allocation FundÀ compter du 29 avril 2010, le compartiment Invesco Balanced Risk Allocation Fund a lancé les catégories d’actions suivantes :

- Catégorie d’actions couverte « A » en dollars US

- Catégorie d’actions couverte « C » en dollars US

- Catégorie d’actions « A » à distribution annuelle

Invesco Global Investment Grade Corporate Bond FundÀ compter du 29 avril 2010, le compartiment Invesco Global Investment Grade Corporate Bond Fund a lancé les catégories d’actions suivantes :

- Catégorie d’actions couverte « C » de capitalisation en livres Sterling

- Catégorie d’actions « A » à distribution mensuelle en dollars US

Invesco Global Structured Equity FundÀ compter du 29 avril 2010, le compartiment Invesco Global Structured Equity Fund a lancé les catégories d’actions suivantes :

- Catégorie d’actions couverte « A » en euros

- Catégorie d’actions couverte « C » en euros

- Catégorie d’actions couverte « C » de capitalisation en livres Sterling

Invesco Pan European Structured Equity FundÀ compter du 29 avril 2010, le compartiment Invesco Pan European Structured Equity Fund a lancé une catégorie d’actions « A » à distribution

annuelle.

Invesco Gold & Precious Metals FundLe compartiment Invesco Gold & Precious Metals Fund a été lancé le 21 juin 2010.

Invesco Global Unconstrained Bond FundLe compartiment Invesco Global Unconstrained Bond Fund a été lancé le 21 juin 2010.


147 Invesco Funds

Notes aux états financiers - (suite)

1. Généralités (suite)

Invesco Emerging Markets Quantitative Equity FundLe compartiment Invesco Emerging Markets Quantitative Equity Fund a été lancé le 21 juin 2010.

Invesco Latin American Equity FundLe compartiment Invesco Latin American Equity Fund a été lancé le 11 août 2010.

Invesco Absolute Return Bond FundÀ compter du 11 août 2010, le compartiment Invesco Absolute Return Bond Fund a lancé une catégorie d’actions couverte « C » en livres Sterling.

Invesco Emerging Local Currencies Debt FundÀ compter du 11 août 2010, le compartiment Invesco Emerging Local Currencies Debt Fund a lancé une catégorie d’actions couverte « A » à

distribution mensuelle en euros.

Invesco Global Total Return (EUR) Bond FundLe compartiment Invesco Global Total Return (EUR) Bond Fund a été lancé le 15 septembre 2010.

Invesco Global Absolute Return FundLe 15 septembre 2010, le compartiment Invesco Global Absolute Return Fund a lancé une catégorie d’actions couvertes « C » en yens japonais.

Modifications de la structure de l’organisation- À compter du 1er mars 2010, l’Agent Administratif, de Registre et de Transfert, RBC Dexia Investor Services Bank S.A., a été remplacé par BNY


- À compter du 1er mars 2010, l’Agent Domiciliataire et l’Administrateur Social, RBC Dexia Investor Services Bank S.A., a été remplacé par BNY Mellon

(International) Limited.

- À compter du 1er mars 2010, l’Agent Dépositaire et l’Agent Payeur, J.P.Morgan Bank Luxembourg S.A., a été remplacé par Bank of New York Mellon

Limited, succursale du Luxembourg.

- À compter du 1er mars 2010, le siège social d’Invesco Funds (69 route d’Esch, L-1470 Luxembourg, Grand-duché du Luxembourg) a été déplacé au

46A, Avenue John F. Kennedy, L-1855 Luxembourg, Grand-duché du Luxembourg. À compter du 15 mai 2010, le siège social a été déplacé au 2-4

rue Eugène Ruppert, L-2453 Luxembourg, Grand-duché du Luxembourg.

(d) Informetions sur le PEA (Plan d’Epargne en Actions)Pendant la période du 1er mars au 31 août 2010, les compartiments suivants détenaient en permanence une partie de leurs actifs, indiquée dans

le tableau sous forme de pourcentage moyen, dans des titres éligibles au PEA, tels que définis par l’Article L.221-31 du Code Monétaire et

Financier. Cette obligation est imposée aux compartiments qui sont enregistrés en France et répondent aux critères du plan d’épargne en actions

(PEA). Le pourcentage maximal des investissements est également indiqué pour cette même période:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Synthèse des principales règles comptables(a) Il convient d'observer que les chiffres consolidés apparaissant dans l'État de l'actif net et dans l'État des variations de l'actif net ne sont fournisqu'à des fins statistiques et ne doivent pas être utilisés par les investisseurs détenant des participations dans un ou plusieurs compartiments.

(b) Évaluation des investissements En général, les investissements, notamment les instruments financiers dérivés, sont évalués en fonction du dernier prix de négociation ou de ladernière cotation moyenne disponible (le prix moyen entre les derniers cours acheteur et vendeur cotés) des titres sur les marchés appropriés surlesquels les investissements du Fonds sont négociés ou cotés au Point d'Evaluation du jour concerné. Quand les investissements d'unCompartiment sont cotés sur une bourse tout en étant négociés par des teneurs de marché en dehors de la bourse sur laquelle les investissementssont cotés, alors la SICAV détermine le marché principal des investissements en question qui sont évalués au dernier prix disponible de ce marché.Les titres non cotés ou négociés sur une bourse, mais négociés sur un autre marché réglementé, sont évalués à l'aide d'une méthode aussi procheque possible de celle décrite précédemment. En l'absence d'un prix de cotation des titres détenus par un Compartiment ou si la valeur déterminéeen fonction des paragraphes précédents n'est pas représentative de la juste valeur de marché des titres concernés, la valeur de ces titres s'appuiesur le prix de vente prévisionnel, déterminé raisonnablement, prudemment et en toute bonne foi.

Par conséquent, la valeur des actifs peut fortement différer de la valeur qui aurait été obtenue s'ils avaient été vendus. Toutefois, la procédure

d'évaluation a été appliquée en permanence et en accord avec les principes précisés dans le Prospectus.

Les états financiers ont été préparés en fonction des dernières valeurs liquidatives déterminées pendant l'exercice financier. Conformément auProspectus, les valeurs liquidatives ont été calculées en référence aux derniers prix disponibles le 31 auguste 2010 à 10 h 00 (heure de Dublin).Des ajustements ont été apportés en raison des souscriptions et des rachats des Compartiments de distribution pour lesquels le dividende a étédétaché le 31 auguste 2010.

(c) Input sur les valeursÀ titre d'information, si le Fonds avait calculé les valeurs liquidatives uniquement en vue d'une publication, les prix de marché utilisés pour évaluerle d'investissements auraient été les prix de clôture au 31 auguste 2010 pour la totalité du portefeuille 'investissements, actions américaines eteuropéennes comprises. Ces valeurs liquidatives n'auraient toutefois pas fortement différé de celles présentées dans ces Comptes annuels audités,sauf pour le Compartiment suivant :

- Invesco Emerging Europe Equity Fund : une augmentation de la Valeur Nette d’Inventaire d’environ 1,48 % aurait été observée.- Invesco Latin American Equity Fund : une augmentation de la Valeur Nette d’Inventaire d’environ 1,14 % aurait été observée.

(d) Coût de cession des placementsLes gains et les pertes réalisés sur les ventes de placements sont déterminés sur base des coûts moyens.


148 Invesco Funds


2. Synthèse des principales règles comptables (suite)

(e) Produits des placementsLes distributions sont comptabilisées sur une base ex-dividende. Le revenu découlant des titres à intérêt fixe et des intérêts de dépôt est cumuléquotidiennement.

(f) DevisesLes transactions exprimées dans des devises autres que la monnaie de référence de chaque compartiment sont converties au taux de change envigueur au moment de ces transactions. La valeur de marché des investissements et des autres actifs et dettes libellés dans des devises autres quela monnaie de référence de chaque compartiment est convertie au taux de change en vigueur à la clôture de l'exercice.

Principaux taux de change utilisés le 31 août 2010:

Devise 1,00 USD Devise 1,00 USD


(g) Affectation des dépensesLorsque la SICAV encourt une dépense concernant un compartiment particulier, cette dépense est affectée au compartiment en question.Lorsqu'une dépense ne peut être rattachée à un compartiment donné, elle est ventilée entre les divers compartiments en proportion de leur Valeurliquidative respective.

(h) Frais de constitutionLes frais de constitution seront amortis sur les 5 premières années. Pour tout exercice annuel, les Compartiments lancés à partir de 2006 sontsoumis à un amortissement maximum de 0,05 % de la valeur liquidative moyenne. Toute dépense non amortie à la fin de ces 5 exercices annuelsou à la date de liquidation sera supportée par la Société de Gestion.

(i) Contrat de change à termeLes gains ou pertes non réalisé(e)s sur les contrats de change à terme en vigueur sont calculé(e)s comme étant la différence entre le tauxréglementaire et le taux de clôture du contrat. Les gains ou pertes réalisé(e)s comprennent les gains nets sur les contrats qui ont été liquidés oucompensés sur d'autres contrats. (consulter la note 7).

(j) Contrats à termeLes instruments financiers dérivés sont d'abord comptabilisés au prix initial puis réévalués à leur juste valeur. Les justes valeurs sont obtenues àpartir des cotations du marché et des taux de change. Tous les instruments dérivés sont comptabilisés en tant qu'actifs quand les montants sontreçus par le Fonds et en tant que passifs quand les montants doivent être payés par le Fonds. La modification de la juste valeur des contrats àterme est indiquée dans l'État de l'actif net (consulter la note 8).

(k) Swaps sur défaillance de créditUn swap sur défaillance est une transaction qui porte sur un instrument dérivé de crédit, dans laquelle deux parties participent à un accord quistipule qu’une des parties verse à l’autre un coupon périodique fixe pendant une durée déterminée. L’autre partie ne verse aucun paiement sauf siun incident de crédit relatif à un actif de référence prédéterminé survient.Si cet incident survient, cette partie doit verser un paiement à lapremière partie et l’accord de swap est résilié. Les swaps sur défaillance sont évalués au prix journalier du marché d’après les cotations des teneursde marché et ils sont enregistrés dans l'État du Patrimoine (consulter la note 9).

(l) Swaps de taux d’intérêtUn swap de taux d’intérêt est un accord bilatéral dans lequel deux parties conviennent d’échanger des flux d’intérêt (en général fixes/variables) ens'appuyant sur un montant notionnel qui sert de base de calcul et qui n’est pas échangé. Les swaps de taux sont évalués au prix journalier dumarché d’après les cotations des teneurs de marché et ils sont enregistrés dans l’Etat du Patrimoine. (consulter la note 10). Les gains ou pertesréalisé(e)s comprennent les résultats nets sur les contrats qui ont été liquidés ou compensés sur d’autres contrats et qui sont indiqués dans l’Étatdes opérations et des variations de l’actif net (publié uniquement en fin d’exercice annuel).

(m) Swaps sur rendement d'actionsUn swap sur rendement d'actions est une transaction dérivée, conclue entre le Fonds et la contrepartie, selon laquelle une partie s'engage à verser

les rendements générés par une action ou un panier d'actions. L'autre partie verse un intérêt en fonction du montant notionnel convenu de la

transaction. Les intérêts perçus / payés sur les swaps sur rendement d'actions sont enregistrés dans la rubrique Autres revenus / dépenses de

l'État des opérations et des variations de l'actif net. La valeur des transactions en swaps sur rendement d'actions est la valeur actuelle nette de

tous les flux de trésorerie entrants et sortants. Les swaps sur rendement d'actions sont enregistrés dans l'État de l'actif net (voir note 11 pour de

plus amples informations).


149 Invesco Funds


3. Commission de gestion et de conseil en investissementLes Administrateurs du Fonds (les “ Administrateurs ”) sont responsables de la politique d'investissement, de la gestion et de l'administration du Fonds.Les Administrateurs délèguent la gestion quotidienne des investissements du portefeuille Invesco Management S.A. (la “ Société de Gestion ”).

En suivant la politique d'investissement définie par les Administrateurs, la Société de Gestion se fait conseiller, selon le cas, par Invesco AssetManagement Limited au Royaume-Uni, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers aux États-Unis,Invesco Institutional au Canada et Invesco Asset Management Deutschland GmbH en Allemagne.

Pour ses services, le Gestionnaire perçoit de la SICAV un pourcentage de la Valeur liquidative de chaque compartiment selon les modalités suivantes:

Compartiment Frais de Frais de gestion Management Management Management gestion Catégorie B (comprend Fee Fee Fee

Catégorie A Cune commission de Class B1 Class C Class Edistribution de 1 %)

COMPARTIMENTS D’ACTIONSMondiaux Invesco Global Structured Equity Fund 1.00% - - 0.60% 1.50%

AméricainsInvesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50%










JaponInvesco Nippon Small/Mid Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%


AsieInvesco Asia Opportunities Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Greater China Equity Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Infrastructure Fund 1.50% - - 1.00% 2.25%Invesco India Equity Fund 1.50% - - 1.00% 2.25%Invesco Asia Consumer Demand Fund 1.50% - - 1.00% 2.25%

COMPARTIMENTS SECTORIELSInvesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25%Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Pacific Real Estate Securities Fund 1.50% - - 1.00% 2.00%Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75%Invesco Emerging Markets Quantitative Equity Fund 1.25% - - 0.75% 1.75%Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00%

RESERVE FONDSInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50%Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50%

COMPARTIMENTS OBLIGATAIRESInvesco Global Bond Fund 0.75% - - 0.50% 0.90%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00%Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Euro Inflation-Linked Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco UK Investment Grade Bond Fund 0.625% - - - -Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00%Invesco Global Investment Grade CorporateBond Fund 1.00% - - 0.65% 1.25%Invesco Global Unconstrained Bond Fund 1.50% - - 1.00% 2.00%

COMPARTIMENTS STRUCTURÉSInvesco Capital Shield 90 (EUR) Fund 1.00% 2.00% - 0.60% 1.50%

COMPARTIMENTS MIXTESInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75%

La commission de gestion est calculée chaque jour ouvrable en fonction de la Valeur Nette d’Inventaire de chaque compartiment. Elle est verséemensuellement. La commission du Conseiller en Placements est payée sur la rémunération du Gestionnaire.

Pour l’exercice considéré, le Gestionnaire a renoncé à une partie de sa commission de gestion pour les compartiments Invesco USD Reserve Fund etInvesco Euro Reserve Fund. Ceci s’applique de la même manière à toutes les catégories d’actions.

Aucune commission de gestion annuelle n’est imputée sur les actions « I ».


150 Invesco Funds


4. Autres chargesLe Gestionnaire perçoit une commission supplémentaire (la « commission de service ») pour chaque compartiment . La commission de service pour

les Actions A et E ne doit pas dépasser, en Valeur Nette d’Inventaire, 0,40 % pour les compartiments d’actions ou les compartiments sectoriels,

0,27 % pour les compartiments obligataires, 0,20 % pour les compartiments structurés, 0,13 % pour les compartiments monétaires, 0,35 % pour le

compartiment Invesco Asia Balanced Fund et 0,40 % pour les compartiments Invesco Pan European High Income Fund et Invesco Global Absolute

Return Fund. La commission de service pour les Actions B, B1 et C ne doit pas dépasser, en Valeur Nette d’Inventaire, 0,30 % pour les

compartiments d’actions et les compartiments sectoriels, 0,10 % pour les compartiments monétaires, 0,20 % pour les compartiments obligataires

(sauf pour Invesco Euro Inflation-Linked Bond Fund pour lequel elle ne doit pas dépasser 0,10 %), 0,15 % pour les compartiments structurés, et 0,30

% pour les compartiments mixtes. Le Gestionnaire utilise cette commission de service pour s’acquitter des honoraires de l’Agent Administratif, de

l’Agent Domiciliataire, de l’Administrateur Social, de l’Agent de Registre et de Transfert, ainsi que des frais des prestataires de services et des frais

encourus dans les pays où le Fonds est agréé. Ces frais et commissions sont calculés chaque Jour Ouvrable en fonction de la Valeur Nette

d’Inventaire du Fonds (à un taux convenu ponctuellement avec le Gestionnaire) et réglés mensuellement. Par ailleurs, le Gestionnaire rembourse les

frais du Représentant du Fonds à Hong-Kong.

En sa qualité de Dépositaire, The Bank of New York Mellon (International) Limited a droit à une rémunération (« commission de dépositaire »)

conformément aux pratiques bancaires normalement en vigueur au Luxembourg. Le taux de cette commission fait l’objet d’un accord ponctuel avec

le Fonds et ne doit pas dépasser 0,20 % par an de la Valeur Nette d’Inventaire du Fonds (sauf pour les compartiments Invesco Asia Infrastructure

Fund, Invesco Asia Pacific Real Estate Securities Fund et Invesco Asia Consumer Demand Fund pour lesquels elle ne doit pas dépasser 0,30 %). La

commission de dépositaire est calculée quotidiennement et payée mensuellement. De plus, le Dépositaire peut imputer des frais de transaction à

chaque compartiment.

Pour l’exercice considéré, le Gestionnaire a accepté à son entière discrétion de payer les dépenses d’exploitation imputées à Invesco USD Reserve

Fund et Invesco Euro Reserve Fund.

L’Entreprise de Direction a consenti à plafonner les dépenses d’opportational chargées au suivre sous-fonds à sa discrétion, aux taux suivants :












5. FiscalitéLe Fonds est inscrit selon les lois du Luxembourg sous forme de société d’investissements collectifs. En conséquence, le Fonds ne doit payer aucun

impôt luxembourgeois sur les revenus ou les plus-values. Il est cependant soumis à une taxe d’abonnement annuelle calculée au taux annuel de

0,05 % de la Valeur Nette d’Inventaire. Les deux Compartiments monétaires et les Catégories d'actions “ I ” sont soumis à un taux annuel réduit de

0,01 % de la Valeur Nette d'Inventaire, cet impôt étant redevable chaque trimestre et calculé sur la valeur nette d'inventaire des Compartiments à

la fin du trimestre considéré.

6. DividendesConformément à la politique de distribution du Fonds, les revenus sont distribués par le biais d'un dividende, uniquement aux détenteurs d'Actions

des Catégories A et C (Actions de Distribution).

La catégorie A à distribution mensuelle du compartiment Invesco Emerging Local Currencies Debt Fund verse des dividendes en fonction d’un

rendement fixé chaque année par le Conseil d’Administration. Pour la période du 1er mars au 31 août 2010, ce rendement était fixé à 6,5 %. Au

31 août 2010, la somme de 819.158 dollars US a été imputée sur le capital, et non sur le revenu, de la catégorie d’actions en paiement de la

commission de gestion et d’autres frais et charges encourus pendant la période révisée. Le Conseil d’Administration a dont décidé que le taux de

rendement serait ajuster à 5,50 % à compter du 31 octobre 2010.

Les revenus dus aux Actionnaires des Catégories A, C, E et I (actions de Capitalisation) sont réinvestis pour renforcer la valeur des actions des

Catégories A, C, E et I.

Type d'action Taux de Fréquence de Date ex Date de distribution distribution distribution dividende

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semistrielle 31 août 2010* 21 septembre 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semistrielle 31 août 2010* 21 septembre 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semistrielle 31 août 2010* 21 septembre 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Trimestrielle 31 mai 2010 21 juin 2010

A Dist 0.0206 Trimestrielle 31 août 2010* 21 septembre 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semistrielle 31 août 2010* 21 septembre 2010


151 Invesco Funds


6. Dividendes (suite)

Type d'action Taux de Fréquence de Date ex Date de distribution distribution distribution dividende

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semistrielle 31 août 2010* 21 septembre 2010

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Mensuelle 31 mars 2010 21 avril 2010

A Dist 0.0291 Mensuelle 30 avril 2010 21 mai 2010

A Dist 0.0310 Mensuelle 31 mai 2010 21 juin 2010

A Dist 0.0295 Mensuelle 30 juin 2010 21 juillet 2010

A Dist 0.0310 Mensuelle 30 juillet 2010 23 août 2010

A Dist 0.0299 Mensuelle 31 août 2010* 21 septembre 2010

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Trimestrielle 31 mai 2010 21 juin 2010


Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Mensuelle 31 mars 2010 21 avril 2010

A Dist USD 0.0638 Mensuelle 30 avril 2010 21 mai 2010

A Dist USD 0.0602 Mensuelle 31 mai 2010 21 juin 2010

A Dist USD 0.0603 Mensuelle 30 juin 2010 21 juillet 2010

A Dist USD 0.0628 Mensuelle 30 juillet 2010 23 août 2010

A Dist USD 0.0630 Mensuelle 31 août 2010* 21 septembre 2010

A Dist EUR 0.0207 Mensuelle # 31 août 2010* 21 septembre 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Mensuelle 31 mai 2010 21 juin 2010

A Dist 0.0370 Mensuelle 30 juin 2010 21 juillet 2010

A Dist 0.0197 Mensuelle 30 juillet 2010 23 août 2010

A Dist 0.0308 Mensuelle 31 août 2010* 21 septembre 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Trimestrielle 31 mai 2010 21 juin 2010


Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Trimestrielle 31 mai 2010 21 juin 2010


* Les distributions avec un excepté l’août date 31 et la date de paie le 21 septembre 2010 n’ont pas été reflétées dans les États financiers.

# La premiére distribution était le 31 août 2010

7. Contrats de change à terme

Au 31 août 2010, les contrats de change à terme ouverts étaient les suivants :

Invesco Global Structured Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 1,653 USD Pour vente à 1,288 EUR 20 07/09/2010

Achat 3,010 USD Pour vente à 1,933 GBP 26 07/09/2010

Achat 260,000 SEK Pour vente à 34,875 USD 259 15/09/2010

Achat 100,000 GBP Pour vente à 151,672 USD 2,640 15/09/2010

Achat 423,843 USD Pour vente à 270,000 GBP 7,200 15/09/2010

Achat 340,000 AUD Pour vente à 294,049 USD 8,063 15/09/2010

Achat 820,000 CHF Pour vente à 779,586 USD 25,946 15/09/2010

Achat 220,000,000 JPY Pour vente à 2,570,078 USD 38,228 15/09/2010

Achat 4,151,492 USD Pour vente à 4,280,000 CAD 112,893 15/09/2010

Total de la plus-value latente sur les contrats de change à terme ouverts 195,275

Achat 6,433,478 USD Pour vente à 587,200,002 JPY (528,324) 15/09/2010

Achat 2,093,121 USD Pour vente à 2,340,000 CHF (205,592) 15/09/2010

Achat 2,662,213 USD Pour vente à 1,800,000 GBP (115,408) 15/09/2010

Achat 2,951,280 USD Pour vente à 2,400,000 EUR (92,298) 15/09/2010

Achat 2,143,847 USD Pour vente à 2,500,000 AUD (77,568) 15/09/2010

Achat 768,305 USD Pour vente à 6,000,000 SEK (42,501) 15/09/2010

Achat 750,000 EUR Pour vente à 985,920 USD (34,802) 15/09/2010

Achat 1,200,000 CAD Pour vente à 1,161,871 USD (29,554) 15/09/2010

Achat 300,000 GBP Pour vente à 473,913 USD (10,976) 15/09/2010

Achat 2,450,000 SEK Pour vente à 340,918 USD (9,839) 15/09/2010

Achat 670,000 AUD Pour vente à 603,275 USD (7,936) 15/09/2010


Achat 84,081 GBP Pour vente à 133,690 USD (3,935) 07/09/2010

Achat 591 USD Pour vente à 468 EUR (3) 07/09/2010

Achat 1,254 USD Pour vente à 813 GBP (2) 07/09/2010

Total de la moins-value latente sur les contrats de change à terme ouverts (1,163,602)

Total de la moins-value latente sur les contrats de change à terme ouverts USD (968,327)


152 Invesco Funds


7. Contrats de change à terme (suite)

Invesco US Structured Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 30,948 USD Pour vente à 24,096 EUR 391 07/09/2010

Total de la plus-value latente sur les contrats de change à terme ouverts 391


Achat 29,514 USD Pour vente à 23,329 EUR (74) 07/09/2010

Total de la moins-value latente sur les contrats de change à terme ouverts (27,809)


Invesco US 130/30 Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 5,695 USD Pour vente à 4,432 EUR 73 07/09/2010






Invesco Latin American Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 1,982 USD Pour vente à 1,560 EUR 5 07/09/2010






Invesco Greater China Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 2,720 USD Pour vente à 2,110 EUR 43 07/09/2010






Invesco Asia Infrastructure Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 24,329 USD Pour vente à 18,813 EUR 469 07/09/2010






Invesco Asia Consumer Demand Fund Gain/(perte) Date d’ÉchéanceDétails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 35,067 EUR Pour vente à 44,300 USD 171 07/09/2010

Achat 20,513 USD Pour vente à 15,953 EUR 281 07/09/2010


Buy 1,162,506 EUR Pour vente à 1,512,253 USD (38,004) 07/09/2010

Buy 40,064 USD Pour vente à 31,708 EUR (146) 07/09/2010




153 Invesco Funds



Invesco Energy Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 371,151 EUR Pour vente à 468,867 USD 1,813 07/09/2010Achat 1,798,149 USD Pour vente à 1,375,050 EUR 54,361 07/09/2010


Achat 9,286,651 EUR Pour vente à 12,074,973 USD (297,976) 07/09/2010Achat 365,180 USD Pour vente à 288,713 EUR (953) 07/09/2010



Invesco Emerging Markets Quantitative Equity Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 3,149 USD Pour vente à 2,019 GBP 32 07/09/2010Achat 6,287 USD Pour vente à 4,901 EUR 74 07/09/2010


Achat 111,759 EUR Pour vente à 147,355 USD (5,626) 07/09/2010Achat 46,676 GBP Pour vente à 74,201 USD (2,169) 07/09/2010Achat 1,649 USD Pour vente à 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 34,929 USD Pour vente à 27,239 EUR 386 07/09/2010


Achat 716,023 EUR Pour vente à 938,443 USD (30,406) 07/09/2010Achat 20,316 USD Pour vente à 16,045 EUR (34) 07/09/2010



Invesco Global Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 1,566,000 USD Pour vente à 1,000,000 GBP 23,292 25/10/2010Achat 3,862,220 USD Pour vente à 3,000,000 EUR 57,761 20/09/2010

Total de la plus-value latente sur les contrats de change à terme ouverts USD 81,053

Invesco European Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 650,000 GBP Pour vente à 786,378 EUR 4,379 29/10/2010Achat 3,283,628 EUR Pour vente à 2,690,000 GBP 11,109 29/10/2010


Achat 410,132 EUR Pour vente à 340,000 GBP (3,495) 29/10/2010Achat 540,000 GBP Pour vente à 660,244 EUR (3,307) 29/10/2010


Total de la plus-value latente sur les contrats de change à terme ouverts EUR 8,686

Invesco Absolute Return Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 320,000 TRY Pour vente à 208,727 USD 172 08/09/2010Achat 70,000 GBP Pour vente à 84,925 EUR 257 08/09/2010Achat 324,465 EUR Pour vente à 1,300,000 PLN 287 08/09/2010Achat 4,130,000 CNY Pour vente à 606,283 USD 522 10/12/2010Achat 386,972 USD Pour vente à 12,000,000 RUB 827 10/12/2010Achat 88,921 GBP Pour vente à 107,302 EUR 906 07/09/2010Achat 40,700,000 PHP Pour vente à 893,916 USD 1,307 17/09/2010Achat 930,000 PEN Pour vente à 331,669 USD 1,654 10/12/2010Achat 451,905 EUR Pour vente à 370,000 GBP 1,658 08/09/2010Achat 212,198 USD Pour vente à 1,550,000 ZAR 2,036 08/09/2010Achat 821,073 EUR Pour vente à 1,100,000 CAD 2,507 08/09/2010Achat 432,051 USD Pour vente à 20,220,000 INR 2,730 17/09/2010Achat 223,350,000 HUF Pour vente à 773,283 EUR 3,114 08/09/2010Achat 1,327,629 USD Pour vente à 9,000,000 CNY 3,935 10/12/2010Achat 468,089 USD Pour vente à 555,410,000 KRW 3,965 08/09/2010Achat 810,000 USD Pour vente à 632,996 EUR 5,724 08/09/2010Achat 1,470,000 PEN Pour vente à 517,606 USD 6,794 17/09/2010Achat 3,310,000 ILS Pour vente à 856,249 USD 7,686 07/09/2010Achat 19,250,000 PHP Pour vente à 414,246 USD 7,696 08/09/2010Achat 224,454 USD Pour vente à 257,000,000 KRW 8,117 17/09/2010


154 Invesco Funds



Invesco Absolute Return Bond Fund (suite) Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 714,177 EUR Pour vente à 5,650,000 NOK 8,626 08/09/2010

Achat 2,900,000 ARS Pour vente à 719,782 USD 8,771 17/09/2010

Achat 5,650,000 NOK Pour vente à 696,661 EUR 8,890 08/09/2010

Achat 9,810,000 SEK Pour vente à 1,035,203 EUR 10,256 08/09/2010

Achat 2,550,000 ZAR Pour vente à 331,143 USD 10,810 08/09/2010

Achat 650,000 CHF Pour vente à 492,297 EUR 11,184 08/09/2010

Achat 1,360,000 MYR Pour vente à 418,311 USD 11,467 17/09/2010

Achat 857,135 USD Pour vente à 3,220,000 ILS 11,592 08/09/2010

Achat 1,830,986 USD Pour vente à 12,350,000 CNY 13,630 27/09/2010

Achat 626,415 EUR Pour vente à 770,000 USD 19,238 08/09/2010

Achat 1,124,433 EUR Pour vente à 317,450,000 HUF 20,931 08/09/2010

Achat 2,720,000 PLN Pour vente à 657,188 EUR 21,092 08/09/2010

Achat 705,629 EUR Pour vente à 3,310,000 ILS 22,756 07/09/2010

Achat 37,800,000 JPY Pour vente à 418,073 USD 23,693 08/09/2010


Achat 4,224,053 EUR Pour vente à 5,560,799 USD (160,871) 08/09/2010

Achat 2,442,312 EUR Pour vente à 274,750,000 JPY (126,098) 08/09/2010

Achat 845,791 USD Pour vente à 40,690,000 PHP (39,083) 17/09/2010

Achat 977,979 EUR Pour vente à 25,050,000 CZK (31,517) 08/09/2010

Achat 1,022,162 EUR Pour vente à 9,810,000 SEK (23,297) 08/09/2010

Achat 12,350,000 CNY Pour vente à 1,841,223 USD (21,702) 27/09/2010

Achat 4,630,000 MXN Pour vente à 295,998 EUR (18,594) 08/09/2010

Achat 1,488,037 USD Pour vente à 2,050,000 SGD (18,517) 08/09/2010

Achat 662,872 EUR Pour vente à 2,730,000 PLN (17,901) 08/09/2010

Achat 1,650,771 EUR Pour vente à 1,370,000 GBP (16,357) 08/09/2010

Achat 13,340,000 CNY Pour vente à 1,978,158 USD (13,969) 10/12/2010

Achat 499,207 EUR Pour vente à 660,000 CHF (12,021) 08/09/2010

Achat 94,100,000 HUF Pour vente à 339,062 EUR (11,957) 08/09/2010

Achat 420,968 USD Pour vente à 36,700,000 JPY (11,127) 08/09/2010

Achat 12,000,000 RUB Pour vente à 400,000 USD (11,102) 10/12/2010

Achat 709,677 USD Pour vente à 363,000,000 CLP (9,659) 10/12/2010

Achat 257,000,001 KRW Pour vente à 224,454 USD (8,117) 17/09/2010

Achat 303,178 USD Pour vente à 1,240,000 ARS (7,370) 17/09/2010

Achat 434,751 EUR Pour vente à 4,140,000 ZAR (6,736) 08/09/2010

Achat 270,000 USD Pour vente à 219,129 EUR (6,223) 08/09/2010

Achat 2,050,000 SGD Pour vente à 1,197,080 EUR (5,185) 08/09/2010

Achat 3,220,000 ILS Pour vente à 848,740 USD (4,972) 08/09/2010

Achat 58,000,000 KZT Pour vente à 396,717 USD (2,758) 17/09/2010

Achat 555,400,001 KRW Pour vente à 466,091 USD (2,396) 08/09/2010

Achat 415,252 USD Pour vente à 470,000 AUD (2,173) 08/09/2010

Achat 431,198 USD Pour vente à 1,360,000 MYR (1,305) 17/09/2010

Achat 20,220,000 INR Pour vente à 429,208 USD (488) 17/09/2010

Achat 208,877 USD Pour vente à 320,000 TRY (54) 08/09/2010


Total de la moins-value latente sur les contrats de change à terme ouvert EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 2,710,547 EUR Pour vente à 2,260,000 GBP (39,048) 12/10/2010

Total de la plus-value latente sur les contrats de change à terme ouverts EUR (39,048)

Invesco UK Investment Grade Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 1,400,000 EUR Pour vente à 1,137,724 GBP 12,693 01/09/2010

Achat 5,806,757 GBP Pour vente à 6,920,000 EUR 120,409 01/09/2010

Achat 3,040,390 GBP Pour vente à 4,430,000 USD 169,917 01/09/2010

Total de la plus-value latente sur les contrats de change à terme ouvert 303,019

Achat 1,900,000 USD Pour vente à 1,313,016 GBP (81,888) 01/09/2010

Achat 1,794,291 GBP Pour vente à 2,860,000 USD (58,881) 01/09/2010

Achat 3,477,960 GBP Pour vente à 5,390,000 USD (16,730) 01/12/2010

Achat 4,525,139 GBP Pour vente à 5,520,000 EUR (12,930) 01/12/2010


Total de la plus-value latente sur les contrats de change à terme ouvert GBP 132,590


155 Invesco Funds



Invesco Emerging Local Currencies Debt Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 32,236 EUR pour vente à 40,722 USD 158 07/09/2010Achat 1,113,406 USD pour vente à 863,577 EUR 18,249 07/09/2010Achat 3,056,400 TRY pour vente à 1,946,628 USD 37,386 12/10/2010Achat 9,767,450 SGD pour vente à 7,052,310 USD 149,432 12/10/2010Achat 464,999,999 PHP pour vente à 10,000,000 USD 220,603 27/09/2010Achat 226,555,000 THB pour vente à 6,990,281 USD 246,472 06/10/2010


Achat 34,047,913 EUR pour vente à 44,675,847 USD (1,497,502) 07/09/2010Achat 11,030,760 USD pour vente à 9,000,000 EUR (382,720) 07/09/2010Achat 87,763,000 CNY pour vente à 13,000,000 USD (106,354) 12/11/2010Achat 89,820,000 RUB pour vente à 3,000,000 USD (102,851) 08/11/2010Achat 33,725,000 CNY pour vente à 5,000,000 USD (45,091) 19/11/2010Achat 22,262,499,999 IDR pour vente à 2,500,000 USD (37,399) 03/09/2010Achat 2,400,000 USD pour vente à 7,568,400 MYR (7,113) 27/09/2010

Total de la moins-value latente sur les contrats de change à terme ouverts (2,179,030)

Total de la moins-value latente sur les contrats de change à terme ouverts USD (1,506,730)

Invesco Global Investment Grade Corporate Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 132,231 USD pour vente à 84,861 GBP 1,264 01/09/2010Achat 1,154,570 USD pour vente à 745,000 GBP 5,527 01/12/2010Achat 170,000 GBP pour vente à 254,124 USD 8,237 01/09/2010Achat 4,625,638 USD pour vente à 3,640,000 EUR 10,196 01/12/2010Achat 585,000 EUR pour vente à 718,458 USD 23,422 01/09/2010Achat 1,755,679 USD pour vente à 1,340,000 EUR 56,331 01/09/2010

Total de la moins-value latente sur les contrats de change à terme ouverts 104,977

Achat 4,186,915 EUR pour vente à 5,523,484 USD (213,788) 07/09/2010Achat 3,727,116 USD pour vente à 3,035,000 EUR (121,783) 01/09/2010Achat 1,201,799 USD pour vente à 830,000 GBP (79,141) 01/09/2010Achat 150,000 EUR pour vente à 194,808 USD (4,582) 01/09/2010Achat 89,554 GBP pour vente à 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 1,339,464 GBP pour vente à 1,600,001 EUR 24,518 20/09/2010


Achat 43,600 GBP pour vente à 70,000 CHF (966) 20/09/2010Achat 81,321 EUR pour vente à 67,528 GBP (702) 07/09/2010


Total de la plus-value latente sur les contrats de change à terme ouverts GBP 22,850

Invesco Capital Shield 90 (EUR) Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 100,000 GBP pour vente à 121,631 EUR 51 15/09/2010Achat 834,387 EUR pour vente à 685,000 GBP 864 15/09/2010Achat 55,899,999 JPY pour vente à 512,379 EUR 10,226 15/09/2010


Achat 26,269,838 EUR pour vente à 33,850,000 USD (422,432) 15/09/2010Achat 1,267,656 EUR pour vente à 138,700,001 JPY (29,043) 15/09/2010Achat 33,500,000 JPY pour vente à 313,994 EUR (804) 15/09/2010Achat 121,242 EUR pour vente à 100,000 GBP (441) 15/09/2010Achat 95,000 GBP pour vente à 115,858 EUR (260) 15/09/2010


Total de la moins-value latente sur les contrats de change à terme ouverts EUR (441,839)

Invesco Asia Balanced Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 526,707 USD pour vente à 412,508 EUR 3,579 07/09/2010


Achat 3,556,131 EUR pour vente à 4,674,162 USD (164,404) 07/09/2010




156 Invesco Funds



Invesco Pan European High Income Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 2,265,144 EUR pour vente à 1,850,000 GBP 14,527 29/10/2010


Achat 1,789,848 EUR pour vente à 1,500,000 GBP (35,322) 20/09/2010Achat 709,161 EUR pour vente à 600,000 GBP (20,871) 27/09/2010Achat 656,403 EUR pour vente à 550,000 GBP (12,859) 13/09/2010Achat 140,741 EUR pour vente à 190,000 CHF (6,525) 16/11/2010Achat 2,608,938 EUR pour vente à 2,150,000 GBP (6,438) 16/11/2010Achat 1,573,787 EUR pour vente à 2,000,000 USD (3,414) 29/10/2010Achat 120,642 EUR pour vente à 100,000 GBP (1,022) 12/10/2010Achat 303,693 EUR pour vente à 250,000 GBP (450) 25/10/2010



Invesco Global Absolute Return Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 528 EUR pour vente à 669 USD 1 07/09/2010Achat 74,532 EUR pour vente à 100,000 CAD 108 01/09/2010Achat 68,262 USD pour vente à 51,815 EUR 2,013 07/09/2010Achat 5,000,000 JPY pour vente à 43,881 EUR 2,855 01/09/2010Achat 1,200,000 USD pour vente à 935,490 EUR 10,755 01/09/2010Achat 900,000 GBP pour vente à 1,080,049 EUR 15,206 01/09/2010


Achat 1,986,806 EUR pour vente à 2,600,000 USD (63,392) 01/09/2010Achat 736,761 EUR pour vente à 1,000,000 CHF (37,775) 01/09/2010Achat 279,831 EUR pour vente à 31,000,000 JPY (9,935) 01/09/2010Achat 1,300,000 CAD pour vente à 973,492 EUR (5,976) 01/09/2010Achat 614,170 EUR pour vente à 800,000 CHF (5,620) 01/10/2010Achat 700,000 GBP pour vente à 855,327 EUR (3,644) 01/10/2010Achat 334,271 EUR pour vente à 36,000,000 JPY (2,355) 01/10/2010Achat 156,981 EUR pour vente à 200,000 USD (730) 01/10/2010Achat 73,919 EUR pour vente à 100,000 CAD (506) 01/09/2010Achat 121,551 EUR pour vente à 100,000 GBP (144) 01/09/2010Achat 594 EUR pour vente à 764 USD (8) 07/09/2010Achat 600,000 CAD pour vente à 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund Gain/(perte)Détails sur les contrats de change à terme non réalisé(e) Date d’ÉchéanceAchat 122,772 GBP pour vente à 148,129 EUR 1,272 07/09/2010Achat 136,947 USD pour vente à 103,941 EUR 4,048 07/09/2010Achat 8,703,663 EUR pour vente à 10,702,000 USD 264,717 03/09/2010


Achat 3,347,000 USD pour vente à 2,672,478 EUR (33,238) 03/09/2010Achat 860,684 EUR pour vente à 1,100,000 USD (6,710) 03/09/2010Achat 1,425 GBP pour vente à 1,740 EUR (6) 07/09/2010


Total de la plus-value latente sur les contrats de change à terme ouverts EUR 230,083

8. Contrats à terme

Dénomination Nombre de Contrats Engagement Long/Court Gain / (perte) non réalisédans la devise de

base du CompartimentInvesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Long (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Long (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Long (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Long (2,854)

Total (perte) non réalisé(e) sur les contrats de change à terme USD (69,760)




157 Invesco Funds


8. Contrats à terme (suite)

Dénomination Nombre de Contrats Engagement Long/Court Gain / (perte) non réalisédans la devise de

base du CompartimentInvesco US 130/30 Equity FundS&P 500 EMINI 17/09/2010 1 55,125 Long (3,031)


Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Long (251,895)


Total (perte) non réalisé(e) sur les contrats de change à terme EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Long (4,065)



Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Court (168,760)

US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Court (27,344)

Long Gilt Future 29/12/2010 (10) (1,939,476) Court (4,899)



Total gain non réalisé(e) sur les contrats de change à terme 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Court (44,000)

Euro Bund Future 08/09/2010 (16) (2,117,250) Court (33,710)

Long Gilt Future 29/12/2010 (34) (5,193,777) Court (13,176)

Total (perte) non réalisé(e) sur les contrats de change à terme (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Court 2,860

Euro Bund Future 08/09/2010 3 389,271 Long 14,034

Total gain non réalisé sur les contrats de change à terme 16,894

US 10 Year Note Future 21/12/2010 (11) (1,092,052) Court (566)

Long Gilt Future 29/12/2010 (6) (912,789) Court (3,345)

Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Court (29,059)

Euro Bobl Future 08/09/2010 (60) (7,236,900) Court (118,200)



Invesco Euro Corporate Bond FundEuro Bund Future 08/09/2010 (2,100) (268,455,000) Court (13,858,500)

Total (perte) non réalisé(e) sur les contrats de change à terme EUR (13,858,500)

Invesco Euro Inflation-Linked Bond FundEuro Bund Future 08/09/2010 (110) (14,396,620) Court (391,230)


Invesco UK Investment Grade Bond FundUS 5 Year Note Future 31/12/2010 (12) (929,317) Court 974

Total gain non réalisé(e) sur les contrats de change à terme 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Court (28,201)

US 10 Year Note Future 21/12/2010 (29) (2,343,750) Court (1,753)

Long Gilt Future 29/12/2010 (6) (750,060) Court (1,440)


Total (perte) non réalisé(e) sur les contrats de change à terme GBP (30,420)


158 Invesco Funds


8. Contrats à terme (suite)Dénomination Nombre de Contrats Engagement Long/Court Gain / (perte) non réalisé

dans la devise debase du Compartiment

Invesco Global Investment Grade Corporate Bond Fund (suite)US Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Court 719








US 10 Year Note Future 21/09/2010 (53) (6,473,914) Court (219,406)

US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Court (914)



Invesco Capital Shield 90 (EUR) FundUS 10 Year Note Future 21/12/2010 404 39,873,681 Long 53,955


Euro Bund Future 08/09/2010 298 38,814,270 Long 1,247,360

Total gain non réalisé(e) sur les contrats de change à terme 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Long (1,242,045)

Nikkei 225 Future 09/09/2010 249 10,680,824 Long (923,938)



Total (perte) non réalisé(e) sur les contrats de change à terme (2,806,970)

Total (perte) non réalisé(e) sur les contrats de change à terme EUR (1,238,002)

Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Long 2,250




S&P 500 EMINI 17/09/2010 13 563,239 Long (20,516)



FTSE 100 Index Future 17/09/2010 4 250,095 Long (488)



Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Long 3,256

Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Long 13,343

Long Gilt Future 29/12/2010 28 4,257,975 Long 17,308

Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Long 39,533




Russell 2000 Mini Future 17/09/2010 27 1,376,550 Long (81,086)

S&P 500 EMINI 17/09/2010 39 1,700,904 Long (76,142)


Topix Index Future 09/09/2010 9 705,392 Long (47,829)

Hang Seng Index Future 29/09/2010 14 1,453,370 Long (12,773)



Total gain non réalisé sur les contrats de change à terme EUR 122,395


159 Invesco Funds


9. Swaps sur défaillanceGain/(perte)

Achat/vente Date Valeur Devise non réalisé(e)de protection Dénomination d’expiration nominale dens la devise de

base du Compartiment

Invesco Absolute Return Bond FundVente Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Total de la plus-value latente sur les Swap sur défaillance de crédit EUR 51,684

Invesco Global Unconstrained Bond FundVente Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196


Pour vente à French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)Pour vente à Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)Pour vente à Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Total (perte) non réalisé sur les contrats de change à terme (35,563)

Total de la moins-value latente sur les Swap sur défaillance de crédit GBP (33,367)

Invesco Pan European High Income FundVente Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411Vente British Energy 4.55% 20/03/2013 300,000 EUR 30,869Pour vente à Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145

Total gain non réalisé sur les contrats de change à terme EUR 102,425

10. Swaps sur rendement d'actionsIl n’y avait pas d’échanges de taux d’intérêt tensus sur n’importe quels fonds comme à la fin période, le 31 août 2010.

11. Equity SwapsInvesco US 130/30 Equity FundAction Quantité Devise Engagement Engagement en % Gain/(perte) nonsous-jacente d'actions en devise locale % de la VNI du realise dans la

sous-jacentes Compartiment devise de base duCompartiment

AK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Total de la plus-value latente sur les Swap sur rendement d’actions 36,330


160 Invesco Funds


11. Equity Swaps (suite)

Invesco US 130/30 Equity Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la

sous-jacentes Compartiment devise de base du Compartiment

Agnico-Eagle Mines Ltd (500) USD (31,215) (0.81%) (1,230)American Express Co 700 USD 29,078 0.75% (1,145)Apple Inc 50 USD 12,382 0.32% (256)AT&T Inc 4,000 USD 106,600 2.77% (60)Babcock & Wilcox Co (450) USD (9,963) (0.26%) (502)Chevron Corp 1,200 USD 93,252 2.42% (4,697)Ciena Corp (2,200) USD (26,444) (0.69%) (1,683)Clearwire Corp (1,800) USD (11,556) (0.30%) (81)Coca-Cola Co 400 USD 22,352 0.58% (140)ConocoPhillips 400 USD 21,972 0.57% (902)Eli Lilly & Co 600 USD 21,342 0.55% (966)Equinix Inc (300) USD (27,024) (0.70%) (158)Exxon Mobil Corp 2,700 USD 161,676 4.20% (2,417)General Electric Co 1,000 USD 15,460 0.40% (945)Goldman Sachs Group Inc 100 USD 14,776 0.38% (1,111)Google Inc 40 USD 19,424 0.50% (1,322)Human Genome Sciences Inc (600) USD (15,528) (0.40%) (1,845)International Business Machines Corp 1,000 USD 127,770 3.32% (4,364)Johnson & Johnson 1,900 USD 110,219 2.86% (1,387)JPMorgan Chase & Co 100 USD 3,769 0.10% (182)Juniper Networks Inc (200) USD (5,174) (0.13%) (209)MBIA Inc (3,400) USD (31,246) (0.81%) (714)MEMC Electronic Materials Inc (4,800) USD (49,776) (1.29%) (672)Microsoft Corp 4,700 USD 115,150 2.99% (4,019)Mosaic Co (700) USD (35,791) (0.93%) (4,277)NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)Old Republic International Corp (600) USD (7,470) (0.19%) (102)Pfizer Inc 4,700 USD 75,341 1.96% (846)Philip Morris International Inc 1,300 USD 67,587 1.75% (735)Plains Exploration & Production Co (1,300) USD (30,550) (0.79%) (1,073)Procter & Gamble Co 1,600 USD 95,632 2.48% (664)ProLogis (300) USD (3,060) (0.08%) (167)Silver Wheaton Corp (200) USD (4,088) (0.11%) (481)Wells Fargo & Co 2,000 USD 51,360 1.33% (4,849)

Total de la moins-value latente sur les Swap sur rendement d’actions (44,706)

Total de la moins-value latente sur les Swap sur rendement d’actions USD (8,376)

Invesco Pan European 130/30 Equity FundAction Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la





161 Invesco Funds



Invesco Pan European 130/30 Equity Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la




Total de la plus-value latente sur les Swap sur rendement d’actions EUR 65,683

Invesco Global Absolute Return FundAction Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la


Abertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771Alcatel-Lucent (4,139) EUR (8,899) (0.19%) 588Alfa Laval AB 1,633 SEK 170,485 0.39% 234Allied World Assurance Co Holdings Ltd 800 USD 38,336 0.65% 928Ansaldo STS SpA (3,314) EUR (37,879) (0.82%) 7,465Ansell Ltd 1,815 AUD 23,323 0.35% 789AstraZeneca Plc 215 SEK 78,562 0.18% 17Atco Ltd 1,100 CAD 53,482 0.88% 1,294Atwood Oceanics Inc (700) USD (18,886) (0.32%) 974Autogrill SpA (4,385) EUR (45,385) (0.99%) 6,019AutoNation Inc 300 USD 6,000 0.10% 596Autonomy Corp Plc (1,751) GBP (33,290) (0.87%) 7,105Baytex Energy Trust 600 CAD 20,160 0.33% 728BCE Inc 1,100 CAD 34,936 0.58% 1,237BE Aerospace Inc (279) USD (7,812) (0.13%) 183Biogen Idec Inc 142 USD 7,587 0.13% 43Brinker International Inc 1,700 USD 27,336 0.46% 18Caltex Australia Ltd 4,476 AUD 43,431 0.63% 4,782Carillion Plc (2,575) GBP (8,330) (0.22%) 591Carnival Plc (407) GBP (9,015) (0.23%) 661Chesapeake Energy Corp (831) USD (17,817) (0.30%) 409Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533Chubu Electric Power Co Inc 2,000 JPY 4,346,000 0.84% 698Chugoku Bank Ltd (1,000) JPY (1,022,000) (0.20%) 313Cie Nationale a Portefeuille (339) EUR (12,248) (0.27%) 159Clean Harbors Inc (400) USD (25,820) (0.44%) 965Coloplast A/S 210 DKK 130,200 0.38% 92Cookson Group Plc (2,187) GBP (9,433) (0.25%) 581Costco Wholesale Corp (900) USD (50,895) (0.86%) 338Cree Inc (200) USD (13,654) (0.23%) 1,915CVS Caremark Corp (2,079) USD (63,727) (1.08%) 5,205Daihatsu Motor Co Ltd 1,000 JPY 958,000 0.18% 915Denki Kagaku Kogyo KK (6,000) JPY (2,634,000) (0.51%) 5,455Discover Financial Services (1,200) USD (18,252) (0.31%) 832



162 Invesco Funds



Invesco Global Absolute Return Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la


DSG International Plc (24,833) GBP (6,760) (0.18%) 961EDP Renovaveis SA (3,035) EUR (15,178) (0.33%) 1,886Electronic Arts Inc (1,200) USD (18,588) (0.32%) 235FamilyMart Co Ltd (1,200) JPY (3,682,158) (0.71%) 407First Niagara Financial Group Inc (1,600) USD (21,312) (0.36%) 2,453Firstgroup Plc (4,366) GBP (16,455) (0.43%) 1,788FLIR Systems Inc (1,800) USD (54,570) (0.92%) 7,519Fred Olsen Energy ASA (550) NOK (101,530) (0.28%) 495Freenet AG (2,406) EUR (19,852) (0.43%) 1,033Guess? Inc (400) USD (13,672) (0.23%) 391Hakuhodo DY Holdings Inc (590) JPY (2,609,191) (0.50%) 2,703Hartford Financial Services Group Inc (400) USD (9,112) (0.15%) 990Hawaiian Electric Industries Inc 1,100 USD 26,103 0.44% 11Hitachi Construction Machinery Co Ltd (1,500) JPY (2,679,000) (0.52%) 1,635Hubbell Inc 600 USD 25,254 0.43% 1,150Illumina Inc (500) USD (22,410) (0.38%) 606Ingram Micro Inc (2,000) USD (32,073) (0.54%) 1,835Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247InterActiveCorp 2,600 USD 59,808 1.01% 3,028Iron Mountain Inc (1,086) USD (26,292) (0.45%) 3,268Isis Pharmaceuticals Inc (1,300) USD (12,363) (0.21%) 1,655Isuzu Motors Ltd (4,000) JPY (1,116,000) (0.22%) 32Itron Inc (100) USD (6,300) (0.11%) 684Johnson Controls Inc (700) USD (20,790) (0.35%) 1,613Kawasaki Heavy Industries Ltd (23,000) JPY (5,175,000) (1.00%) 376Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674Kroger Co (800) USD (16,632) (0.28%) 569Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804Lindt & Spruengli AG (18) CHF (43,200) (0.70%) 601LKQ Corp (1,000) USD (20,640) (0.35%) 1,725Magellan Health Services Inc 700 USD 25,928 0.44% 3,208Markel Corp (100) USD (34,850) (0.59%) 2,052Martin Marietta Materials Inc (300) USD (25,743) (0.44%) 2,967Mazda Motor Corp (6,000) JPY (1,278,000) (0.25%) 1,347Mediaset SpA 7,191 EUR 34,283 0.74% 656Medicis Pharmaceutical Corp 1,800 USD 43,465 0.73% 4,229MEMC Electronic Materials Inc (2,000) USD (21,220) (0.36%) 151Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691MetLife Inc (500) USD (19,545) (0.33%) 809Miraca Holdings Inc 200 JPY 511,200 0.10% 446Mitsubishi Logistics Corp (2,000) JPY (2,010,000) (0.39%) 1,461Mizuho Securities Co Ltd (12,000) JPY (2,362,818) (0.46%) 939Mondi Plc 3,152 GBP 12,846 0.33% 1,925Nippon Sheet Glass Co Ltd (8,000) JPY (1,856,000) (0.36%) 3,527Nissan Motor Co Ltd 3,400 JPY 2,140,080 0.41% 312Novartis AG 821 CHF 43,571 0.70% 194NuVasive Inc (300) USD (10,968) (0.19%) 1,642Oesterreichische Post AG 673 EUR 13,319 0.29% 247Old Republic International Corp (4,400) USD (56,523) (0.96%) 794O'Reilly Automotive Inc (1,200) USD (57,766) (0.98%) 1,103Outotec OYJ (439) EUR (11,651) (0.25%) 314Overseas Shipholding Group Inc (400) USD (15,324) (0.26%) 1,975Panera Bread Co 500 USD 39,005 0.66% 551Petrohawk Energy Corp (1,129) USD (19,848) (0.34%) 2,130Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171Pride International Inc (900) USD (22,302) (0.38%) 941Primary Health Care Ltd (25,742) AUD (92,509) (1.36%) 6,389QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121Quanta Services Inc (1,600) USD (34,080) (0.58%) 4,126Randgold Resources Ltd (284) GBP (17,523) (0.46%) 943Randstad Holding NV (920) EUR (31,818) (0.69%) 5,297Regeneron Pharmaceuticals Inc (800) USD (18,664) (0.32%) 892ResMed Inc (253) USD (16,911) (0.29%) 1,276Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173Rogers Communications Inc 1,100 CAD 40,172 0.65% 815Rovi Corp (200) USD (8,546) (0.15%) 104Royal Caribbean Cruises Ltd (500) USD (12,365) (0.21%) 96






163 Invesco Funds



Invesco Global Absolute Return Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) non sous-jacente d'actions en devise locale % de la VNI du realise dans la


Shimadzu Corp (2,000) JPY (1,338,000) (0.26%) 1,803Shionogi & Co Ltd (700) JPY (1,243,900) (0.24%) 1,944Softbank Corp (500) JPY (1,277,000) (0.25%) 660Southwest Airlines Co (1,300) USD (15,639) (0.27%) 1,062Spirit Aerosystems Holdings Inc (800) USD (16,184) (0.27%) 402Sumitomo Rubber Industries Ltd (2,400) JPY (2,090,400) (0.40%) 2,418Swiss Reinsurance Co Ltd (373) CHF (17,949) (0.29%) 1,788Terex Corp (1,000) USD (18,500) (0.31%) 293TGS Nopec Geophysical Co ASA 513 NOK 38,834 0.11% 628Thomas Cook Group Plc (7,198) GBP (14,101) (0.37%) 1,325Thomson Reuters Corp (600) CAD (23,400) (0.39%) 868TIBCO Software Inc 600 USD 7,830 0.13% 488Toray Industries Inc (3,000) JPY (1,338,000) (0.26%) 117Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009Trinity Industries Inc (1,600) USD (30,464) (0.52%) 2,499TRW Automotive Holdings Corp 600 USD 18,672 0.32% 1,439TW telecom inc (616) USD (11,045) (0.19%) 305United States Steel Corp (400) USD (17,168) (0.29%) 366United Therapeutics Corp (400) USD (19,916) (0.34%) 1,006Valeo SA 764 EUR 18,554 0.40% 2,473Vertex Pharmaceuticals Inc (347) USD (11,718) (0.20%) 65Vestas Wind Systems A/S (466) DKK (131,453) (0.38%) 3,784Volvo AB (3,774) SEK (326,828) (0.76%) 2,923Walter Energy Inc 281 USD 18,414 0.31% 598Wendel (588) EUR (26,604) (0.58%) 3,162Wendy's/Arby's Group Inc (2,600) USD (10,790) (0.18%) 329West Fraser Timber Co Ltd 500 CAD 18,180 0.30% 166Wienerberger AG (656) EUR (6,980) (0.15%) 300Yamaha Motor Co Ltd (2,500) JPY (2,865,000) (0.55%) 535Yaskawa Electric Corp (2,000) JPY (1,414,000) (0.27%) 2,264


Aeon Mall Co Ltd (500) JPY (955,500) (0.18%) (46)Aeropostale Inc 850 USD 25,449 0.43% (4,993)AGCO Corp (400) USD (11,944) (0.20%) (838)Ajinomoto Co Inc (2,000) JPY (1,642,000) (0.32%) (13)Alere Inc (896) USD (24,891) (0.42%) (251)Alexion Pharmaceuticals (400) USD (18,964) (0.27%) (458)Amgen Inc 776 USD 41,066 0.70% (829)Apollo Group Inc 300 USD 13,434 0.23% (335)ARC Energy Trust 800 CAD 15,992 0.26% (21)Asahi Glass Co Ltd 3,000 JPY 2,568,000 0.50% (1,058)Asahi Kasei Corp 4,000 JPY 1,776,888 0.34% (1,104)ASML Holding NV 1,147 EUR 27,849 0.61% (5,325)Astellas Pharma Inc 1,500 JPY 4,449,000 0.86% (784)Auxilium Pharmaceuticals Inc (900) USD (20,308) (0.34%) (2,043)Avis Budget Group Inc 1,900 USD 19,969 0.34% (1,873)Benesse Holdings Inc 300 JPY 1,177,500 0.23% (417)Berkeley Group Holdings Plc 2,860 GBP 23,510 0.61% (435)BHP Billiton Plc 503 GBP 9,177 0.24% (300)Big Lots Inc 380 USD 13,194 0.22% (1,070)BioMarin Pharmaceutical Inc (1,300) USD (25,519) (0.43%) (827)Boston Scientific Corp 1,700 USD 11,203 0.19% (1,586)Bucyrus International Inc (400) USD (21,340) (0.36%) (865)Carlisle Cos Inc 900 USD 33,750 0.57% (5,962)Cephalon Inc 500 USD 30,560 0.52% (1,694)CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)Cheesecake Factory Inc 2,500 USD 63,371 1.07% (5,490)Chugoku Electric Power Co Inc (3,500) JPY (6,258,938) (1.21%) (1,480)Collective Brands Inc 1,500 USD 23,820 0.40% (2,712)Compuware Corp 2,286 USD 20,003 0.34% (2,920)COMSYS Holdings Corp 3,400 JPY 2,794,800 0.54% (3,187)Concur Technologies Inc (1,200) USD (53,857) (0.91%) (1,421)Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)


164 Invesco Funds



Invesco Global Absolute Return Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) nonsous-jacente d'actions en devise locale % de la VNI du realise dans la


Equinix Inc (435) USD (37,423) (0.64%) (1,524)Exxon Mobil Corp 385 USD 22,819 0.39% (108)Finning International Inc (300) CAD (5,700) (0.09%) (392)Forest Laboratories Inc 1,796 USD 51,402 0.87% (1,449)Frontline Ltd 1,187 NOK 223,275 0.61% (3,301)Fujikura Ltd 2,000 JPY 770,000 0.15% (399)Gannett Co Inc 900 USD 13,599 0.23% (2,052)Gap Inc 2,803 USD 52,668 0.89% (4,166)Genzyme Corp (200) USD (13,236) (0.22%) (587)Givaudan SA (41) CHF (38,684) (0.63%) (503)Hannover Rueckversicherung AG 561 EUR 20,763 0.45% (1,278)Hays Plc 8,597 GBP 8,253 0.21% (590)Health Net Inc 800 USD 20,424 0.35% (987)Healthsouth Corp 1,300 USD 23,621 0.40% (1,650)Hershey Co 1,400 USD 72,101 1.22% (6,189)Hitachi Chemical Co Ltd 1,200 JPY 2,058,000 0.40% (2,856)Hokkaido Electric Power Co Inc (1,100) JPY (2,050,400) (0.40%) (250)Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)ICADE (127) EUR (8,965) (0.19%) (272)Intact Financial Corp 600 CAD 28,200 0.46% (1,003)Intercontinental Hotels Group Plc 1,221 GBP 13,675 0.36% (1,961)IntercontinentalExchange Inc 200 USD 21,106 0.36% (1,734)InterDigital Inc 600 USD 16,272 0.28% (1,080)Isetan Mitsukoshi Holdings Ltd (1,500) JPY (1,308,000) (0.25%) (175)ITC Holdings Corp (465) USD (25,310) (0.43%) (1,279)ITT Educational Services Inc 300 USD 26,088 0.44% (7,466)Ivanhoe Mines Ltd (1,200) CAD (21,036) (0.35%) (873)Jones Apparel Group Inc 1,200 USD 18,696 0.32% (438)K & S AG (192) EUR (7,277) (0.16%) (558)Keihin Electric Express Railway Co Ltd (6,000) JPY (4,879,184) (0.94%) (2,021)King Pharmaceuticals Inc 1,491 USD 13,076 0.22% (51)Konica Minolta Holdings Inc 4,500 JPY 4,230,000 0.82% (8,401)Kurita Water Industries Ltd 700 JPY 1,755,600 0.34% (1,915)Lagardere SCA (942) EUR (24,732) (0.54%) (2,004)Lawson Inc 200 JPY 804,000 0.16% (356)LifePoint Hospitals Inc 800 USD 25,648 0.44% (820)Lincare Holdings Inc 1,950 USD 52,949 0.90% (5,516)Lonza Group AG (534) CHF (39,275) (0.64%) (4,132)Lorillard Inc (200) USD (14,952) (0.25%) (217)Mabuchi Motor Co Ltd 400 JPY 1,766,000 0.34% (1,713)Masco Corp 1,698 USD 19,069 0.32% (1,094)Medipal Holdings Corp (1,600) JPY (1,625,600) (0.31%) (418)Medtronic Inc 300 USD 11,403 0.19% (1,430)Millennium & Copthorne Hotels Plc (2,357) GBP (10,324) (0.27%) (1,457)Minebea Co Ltd 6,000 JPY 3,042,000 0.59% (6,586)MISUMI Group Inc (1,000) JPY (1,568,216) (0.30%) (582)Mitsubishi Tanabe Pharma Corp (3,000) JPY (3,805,370) (0.73%) (1,282)Mitsui Chemicals Inc 17,000 JPY 4,318,000 0.83% (6,120)Mitsumi Electric Co Ltd 600 JPY 927,000 0.18% (1,965)Mizuho Financial Group Inc 18,200 JPY 2,548,000 0.49% (1,777)Mobistar SA 197 EUR 8,803 0.19% (114)Moody's Corp 684 USD 15,369 0.26% (687)Mosaic Co (400) USD (17,300) (0.29%) (4,317)Navistar International Corp 400 USD 20,404 0.35% (2,465)New York Times Co 1,600 USD 15,328 0.26% (2,835)Next Plc 2,517 GBP 52,340 1.36% (3,426)NGK Insulators Ltd 1,000 JPY 1,490,000 0.29% (1,976)NGK Spark Plug Co Ltd 1,000 JPY 1,155,000 0.22% (1,585)Niko Resources Ltd (300) CAD (30,105) (0.50%) (816)Nippon Electric Glass Co Ltd 1,000 JPY 1,092,000 0.21% (1,387)Nisshinbo Holdings Inc 2,000 JPY 1,852,000 0.36% (2,396)Omnicare Inc 700 USD 17,710 0.30% (3,092)Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)Patterson-UTI Energy Inc 991 USD 14,746 0.25% (122)Peabody Energy Corp 400 USD 17,280 0.29% (447)Plains Exploration & Production Co (1,700) USD (36,056) (0.61%) (4,048)Potash Corp of Saskatchewan Inc (300) CAD (30,747) (0.51%) (12,007)Pulte Group Inc 800 USD 6,824 0.12% (295)Ralcorp Holdings Inc (600) USD (33,288) (0.57%) (1,794)Reckitt Benckiser Group Plc 583 GBP 18,953 0.49% (56)


165 Invesco Funds



Invesco Global Absolute Return Fund (suite)Action Quantité Devise Engagement Engagement en % Gain/(perte) nonsous-jacente d'actions en devise locale % de la VNI du realise dans la




Oil States International Inc 600 USD 25,974 0.44% (960)Reliance Steel & Aluminum Co 400 USD 14,788 0.25% (95)Rent-A-Center Inc 1,500 USD 33,405 0.57% (2,697)Rentokil Initial Plc 6,121 GBP 6,794 0.18% (1,401)Resona Holdings Inc 700 JPY 682,500 0.13% (914)Rhodia SA 1,221 EUR 18,724 0.41% (757)Ross Stores Inc 1,000 USD 54,677 0.93% (3,310)RR Donnelley & Sons Co 1,200 USD 20,532 0.35% (1,807)Russel Metals Inc 3,100 CAD 59,985 0.99% (630)Sara Lee Corp 907 USD 13,052 0.22% (34)Seagate Technology Plc 1,800 USD 26,586 0.45% (5,825)Sega Sammy Holdings Inc 1,900 JPY 2,481,400 0.48% (1,126)Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)Shire Plc 665 GBP 9,789 0.25% (652)Shoppers Drug Mart Corp (2,400) CAD (86,766) (1.42%) (247)Silver Standard Resources Inc (1,200) CAD (20,868) (0.34%) (1,109)Singapore Post Ltd 40,000 SGD 45,680 0.56% (149)SKF AB 1,529 SEK 209,448 0.48% (895)Sony Financial Holdings Inc 8 JPY 2,468,000 0.48% (2,488)Sprint Nextel Corp 4,100 USD 19,270 0.33% (2,531)Stagecoach Group Plc 18,267 GBP 33,476 0.87% (2,706)Stanley Black & Decker Inc (900) USD (46,811) (0.79%) (938)Stericycle Inc (300) USD (19,761) (0.34%) (87)STMicroelectronics NV 2,229 EUR 15,068 0.33% (3,377)STMicroelectronics NV (Sicovam) 4,580 EUR 31,034 0.67% (7,019)Svenska Handelsbanken AB 752 SEK 154,912 0.36% (1,178)Symantec Corp 1,849 USD 27,587 0.47% (1,725)Telephone & Data Systems Inc 846 USD 27,140 0.46% (1,047)Tieto OYJ 607 EUR 8,516 0.19% (604)TNT NV 737 EUR 15,879 0.34% (1,323)Tokio Marine Holdings Inc 600 JPY 1,447,200 0.28% (909)Toro Co 400 USD 20,128 0.34% (200)Toyo Suisan Kaisha Ltd 1,000 JPY 2,038,000 0.39% (2,365)Toyota Motor Corp 600 JPY 1,905,000 0.37% (1,754)TransAlta Corp (1,200) CAD (25,104) (0.41%) (158)Trend Micro Inc 500 JPY 1,272,500 0.25% (1,199)TUI AG 2,338 EUR 18,849 0.41% (539)Tullow Oil Plc (1,527) GBP (17,454) (0.45%) (922)USS Co Ltd 180 JPY 1,148,400 0.22% (296)Vishay Intertechnology Inc 4,300 USD 35,432 0.60% (2,026)Wal-Mart Stores Inc (800) USD (40,328) (0.69%) (76)Weatherford International Ltd (400) USD (5,924) (0.10%) (100)Yamato Holdings Co Ltd 4,100 JPY 4,512,255 0.87% (4,298)Yara International ASA (270) NOK (57,105) (0.16%) (1,194)Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Total de la moins-value latente sur les Swap sur rendement d’actions EUR (78,570)

12 Politique de swing pricingLes titres sont évalués selon la méthode définie à la note 2(b). Toutefois, afin d'atténuer l'impact de la dilution, le Fonds a mis en place une

politique de swing pricing le 18 décembre 2007.

Dans le meilleur intérêt des Actionnaires, les Administrateurs peuvent autoriser un ajustement de la valeur liquidative à l'aide des cours acheteurs

ou vendeurs du marché, au lieu du prix moyen, en fonction de l'activité nette du Fonds qui découle des souscriptions, des rachats ou des échanges

d'actions au sein d'un compartiment au cours d'un jour ouvrable donné.

Les compartiments utilisent uniquement un ajustement partiel. En effet, les prix ne sont pas ajustés chaque jour selon un cours acheteur ou

vendeur, mais uniquement quand un degré d'activité prédéterminé pour un compartiment est dépassé. Une activité de rachat élevée déclenche un

ajustement en fonction d'un cours acheteur, tandis qu'une activité de souscription élevée déclenche un ajustement en fonction d'un cours vendeur.

Les Administrateurs peuvent décider d'adopter une méthode d'ajustement constante pour un compartiment donné en fonction des tendances

récentes ayant affecté ledit compartiment.

Le rapprochement entre les prix Moyens et les prix Acheteurs/Vendeurs au 31 août 2010 est le suivant :




166 Invesco Funds


12 Politique de swing pricing (suite)BID Pricing A Dist. A Accum Dist A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I Accum

Hedg Hedg (EUR) C Hedg (GBP)

Invesco Nippon Small/Mid Cap Equity Fund Mid Valuation - 516.56 - - 460.00 - 547.33 - - 4.47 4.88Bid Valuation - 514.91 - - 458.53 - 545.58 - - 4.46 4.87 Invesco Global Leisure Fund Mid Valuation - 15.33 - - 13.47 - 16.17 - - 11.20 - Bid Valuation - 15.30 - - 13.45 - 16.14 - - 11.18 -


ASK Pricing





13. Modifications des placementsUne liste, précisant la totalité des achats et des ventes de chaque investissement pendant l'exercice considéré, peut être obtenue sur demande et

gratuitement au siège social et au bureau du représentant du Fonds à Hong-Kong.

14. Statut du DistributeurLa qualité de « fonds de distribution » au titre du Income and Corporation Taxes Act de 1988 aux fins de la fiscalité britannique a été demandée etobtenue pour l’exercice annuel clos le 28 février 2010 pour les Catégories de distribution A et C des compartiments suivants (le cas échéant) ;


15. Prêt de titres

En novembre 2007, le Compartiment a conclu un accord de prêt de titres avec State Street.

Il n’y avait aucuns titres de placement sur le prêt le 31 août 2010.

La sécurité en prêtant le revenu est enregistrée sous “d’Autre Revenu” dans le Déclaration d’Operations et de Changements dans les Capitaux Nets(révélé en find d’année seulement).

16. Commissions accessoires et transactions avec des parties liéesConformément à l'objectif d'optimisation du résultat net et au principe de la meilleure exécution des ordres, certaines filiales de Invesco Ltd (« leGroupe ») peuvent conclure des accords avec des contreparties selon lesquels ces contreparties peuvent effectuer des paiements pour des servicesd'investissement fournis au Groupe.

Les services d'investissement sont utilisés par le Groupe pour améliorer ou compléter les services qu'il propose à ses clients. Bien que chacun oul'ensemble de ses services ne puissent être proposés à chacune ou l'ensemble des entités comptables gérées par le Groupe, le Groupe estime que lesservices d'investissement reçus apportent, globalement, une contribution importante pour lui permettre d'assumer ses responsabilités en matière deplacements et qu'ils apportent un avantage démontrable aux clients. Seuls les services qui aident à fournir des services d'investissement aux clients duGroupe seront rétribués par les contreparties.

Les services d'investissement autorisés comprennent les services qui aident le Groupe à atteindre ses performances en termes d'investissement. Cesservices recouvrent, mais ne sont pas nécessairement limités à, l'offre de services d'analyse, de recherche et de conseil, y compris les servicesévaluant les facteurs et les tendances économiques, l'évaluation et l'analyse des portefeuilles, l'évaluation des performances, les prix du marché etl'utilisation de logiciels et de matériel informatique spécialisés ou autres équipements informatiques.

Le Groupe veillera à assumer ses responsabilités en termes de décisions de placements vis-à-vis de ses clients, conformément aux législations des pays quiont la compétence juridique sur ses clients ou ses activités. Cet engagement peut varier en fonction de l'utilité de proposer ces services de placements.

Le Groupe choisit des contreparties pour exécuter des transactions sous réserve que les transactions seront exécutées seulement si le placements desordres ne va pas à l'encontre des meilleurs intérêts des clients du Groupe et si la quotité client se situe à un niveau conforme aux pratiques généralementadmises sur le marché. Le Groupe s'efforcera d'obtenir l'exécution au mieux de l'ensemble des transactions effectuées pour l'ensemble des clients.

En outre, les clients peuvent demander au Groupe de verser une commission à des contreparties pour des produits et des services qu'il devrait payeren temps normal. En pareil cas, la commission sert exclusivement au profit du client dont les transactions ont généré cette commission.

Le Groupe s’efforcera de maintenir les réglementations les plus élevées possibles dans le monde entier.


167 Invesco Funds

Noter til regnskapene

1. GenereltInvesco (“Fondet”) er et investeringsselskap organisert i henhold til del I av luxembourgsk lov om kollektiv investering av 20. desember 2002, som

et aksjeselskap (Société Anonyme) som kvalifiserer som et Société d'Investissement à Capital Variable (“SICAV”). Invesco er et paraplyfond som

består av 41 underfond der hvert underfond behandles som en adskilt enhet. De ledsagende regnskapene er blitt utarbeidet i samsvar med det

formatet som er forskrevet i lovgivningen i Luxembourg.

(a) Invesco India (Mauritius) LimitedInvesteringer i indiske verdipapirer blir foretatt gjennom et heleid mauritansk datterselskap, Invesco India (Mauritius) Limited (“Datterselskapet”),

som har som eneste formål å utføre investeringsaktiviteter på vegne av Fondet. Datterselskapet er heleid av Invesco India Equity Fund.

Datterselskapet innehar en Category 1 Global Business Licence utstedt av Mauritius Offshore Business Activities Authority. Som et resultat av

dette, er selskapet gjenstand for redusert mauritansk inntektsskatt. I tillegg vil Datterselskapet ikke måtte betale mauritansk skatt på kapitalinntekt

for investeringene i India, og eventuelt utbytte og innløsningsinntekter som betales av Datterselskapet til Invesco India Equity Fund, vil være unntatt

fra mauritansk utbytteskatt.

(b) AksjeklasserAndelene i noen av underfondene er tilgjengelige i opptil seks klasser (klasse A, klasse B, klasse B1, klasse C, klasse E og klasse I). Klasse A-

andeler er tilgjengelige uten begrensninger. Klasse B-andeler er tilgjengelige for kundene til distributører eller mellommenn som er utnevnt

spesifikt for distribusjon av B-andelene og bare for de Fond som det er inngått slike distribusjonsavtaler med slike distributører for. Klasse C-

andeler er tilgjengelige for alle investorer, og har et høyere minste inngangstegningsbeløp og lavere administrasjonsavgifter, og er først og fremst

beregnet på store eller institusjonelle investorer. Klasse E-andeler med benevning i Euro har et lavere minste inngangstegningsbeløp og høyere

årlige administrasjonsavgifter enn klasse A- og C-andeler. Klasse B1-andeler er i tillegg bare tilgjengelige for kunder av Merrill Lynch. Klasse I-

andeler har benevning i Euro og er bare tilgjengelige for institusjonelle kunder som har en institusjonell forvaltningsavtale med Invesco. Det er A- &

C-andelsklasser med utbytte, sikrede andelsklasser og andelsklasser med fast utbytte innenfor enkelte av underfondene.

Sikrede andelsklasser er tilgjengelige for investorer i flere underfond. Når det gjelder slike andelsklasser, kan SICAV sikre valutaeksponeringen i

andelsklasser som er notert i en annen valuta enn basisvalutaen i det relevante fondet, for å prøve å dempe virkningen av svingningene i

vekslingskursen mellom valutaen til andelsklassens valuta og basisvalutaen.

(c) Fondets aktivitetSikrede andelsklasser A og C EUR Den 31. mars 2010 ble sikrede andelsklasser “A” og “C” lansert i følgende underfond:





Invesco Euro Reserve Fund Den 31. mars 2010 ble årlig distribusjonsandelsklasse “A” lansert i Invesco Euro Reserve Fund.

Invesco Energy FundDen 31. mars 2010 ble årlig distribusjonsandelsklasse “A” lansert i Invesco Energy Fund.

Invesco Global Absolute Return FundDen 29. april 2010 ble sikret andelsklasse “C” USD lansert i Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundDen 29. april 2010 ble følgende andelsklasser lansert i Invesco Balanced-Risk Allocation Fund:

- Sikret andelsklasse “A” USD

- Sikret andelsklasse “C” USD

- Årlig distribusjonsandelsklasse “A”

Invesco Global Investment Grade Corporate Bond FundDen 29. april 2010 ble følgende andelsklasser lansert i Invesco Global Investment Grade Corporate Bond Fund:

- Sikret kapitalisering av andelsklasse “C” GBP

- Andelsklasse “A” med månedlig utbytte i USD

Invesco Global Structured Equity FundDen 29. april 2010 ble følgende andelsklasser lansert i Invesco Global Structured Equity Fund:

- Sikret andelsklasse “A” EUR

- Sikret andelsklasse “C” EUR

- Sikret kapitalisering av andelsklasse “C” GBP

Invesco Pan European Structured Equity FundDen 29. april 2010 ble årlig distribusjonsandelsklasse “A” lansert i Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundInvesco Gold & Precious Metals Fund ble lansert den 21. juni 2010.

Invesco Global Unconstrained Bond FundInvesco Global Unconstrained Bond Fund ble lansert den 21. juni 2010.

Invesco Emerging Markets Quantitative Equity FundInvesco Emerging Markets Quantitative Equity Fund ble lansert den 21. juni 2010.


Noter til regnskapene - (Fortsettelse)

1. Generelt (forts.)Invesco Latin American Equity FundInvesco Latin American Equity Fund ble lansert den 11. august 2010.

Invesco Absolute Return Bond FundDen 11. august 2010 ble sikret andelsklasse “C” GBP lansert i Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundDen 11. august 2010 ble sikret andelsklasse “A” med månedlig utbytte i EUR lansert i Invesco Emerging Local Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundInvesco Global Total Return (EUR) Bond Fund ble lansert den 15. september 2010.

Invesco Global Absolute Return FundDen 15. september 2010 ble sikret andelsklasse “C” JPY lansert i Invesco Global Absolute Return Fund.

Endringer i organisasjonsstrukturen- Den 1. mars 2010 skiftet administrasjonsagenten, registrerings- og overføringsagenten fra RBC Dexia Investor Services Bank S.A. til BNY Mellon (International)

Limited.

- Den 1. mars 2010 skiftet hjemstavns- og konsernagenten fra RBC Dexia Investor Services Bank S.A. til BNY Mellon (International) Limited.

- Den 1. mars 2010 skiftet depotmottakeren og utbetalingsagenten fra J.P.Morgan Bank Luxembourg S.A. til Bank of New York Mellon Limited, Luxemburg-filialen.

- Den 1. mars 2010 skiftet forretningskontoret til Invesco Funds adresse fra 69, route d'Esch, L-1470 Luxemburg, Grand Duchy of Luxemburg, til 46A, Avenue

John F. Kennedy, L-1855 Luxemburg, Grand Duchy of Luxemburg. Den 15. mai 2010 skiftet forretningskontoret adresse til 2-4 rue Eugène Ruppert, L-2453

Luxemburg, Grand Duchy of Luxemburg.

(d) PEA Disclosure (Plan d’Epargne en Actions)Fra 1. mars 2010 til 31. august 2010 plasserte følgende underfond den gjennomsnittlige prosentandelen, som angitt i tabellen, av alle eiendeler

som på noe tidspunkt er investert, i PEA-kvalifiserte verdipapirer, som definert i Artikkel L.221-31 i den franske loven Code Monétaire et Financier.

Dette er påkrevd for underfond som er registrert i Frankrike, og som oppfyller kravene i planen for sparing av egenkapital (PEA). Det er også angitt

en maksimal prosentandel for investeringer i denne perioden:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Sammendrag av viktige regnskapsprinsipper (a) KonsolideringKonsolideringstallene i regnskapet for netto eiendeler og regnskapet for endringer i netto eiendeler er kun beregnet for statistiske formål og bør

ikke benyttes av investorer med aksjeposter i ett eller flere underfond.

(b) Verdsettelse av investeringerVanligvis vil investeringer, inkludert derivative finansielle instrumenter, bli verdsatt basert på siste omsetningspris eller siste tilgjengelige

gjennomsnittlige markedsnoteringer (gjennomsnittet av siste kursnoterte tilbud og kjøpskurs) av verdipapirer på det aktuelle verdipapirmarkedet der

fondsinvesteringen blir omsatt eller notert ut fra verdifastsettelsespunktet den dagen. I tilfeller der fondsinvesteringer både er børsnoterte og omsatt

av meglere utenfor børsen der investeringen er børsnotert, vil SICAV fastsette hovedmarkedet for de aktuelle investeringene, og de vil bli verdsatt ut

fra siste tilgjengelige pris i det markedet. Verdipapirer som ikke er notert eller omsatt på noen børs, men blir handlet med på et annet regulert

marked, vil bli verdsatt på en måte som er så lik som mulig måten som er beskrevet over. Om prisnoteringer ikke er tilgjengelig for noen av

verdipapirene et fond besitter, eller dersom den fastsatte verdien i henhold til paragrafene over, ikke er representativ for den rimelige markedsverdien

for de aktuelle verdipapirene, vil verdien på slike verdipapirer settes ut fra rimelige forventninger til salgspris, fastsatt nøkternt og i god tro.

Regnskapene er utarbeidet på grunnlag av de siste NAV-verdier som er fastsatt i regnskapsperioden. I samsvar med prospektet ble NAV beregnet

ved referanse til de sist tilgjengelige priser klokken 10:00 (Dublin-tid) den 31 august 2010. Det ble foretatt justeringer for tegninger og

innløsninger for underfond med utbytte som var ex utbytte 31 august 2010.





Til informasjon, hvis Fondet hadde kalkulert NAV utelukkende med tanke på publikasjon, hadde markedsprisene brukt til å fastsette verdien for

investeringsporteføljen vært sluttkursene 31 august 2010 for hele investeringsporteføljen, også amerikanske og europeiske aksjer. Disse NAVene

ville imidlertid ikke vært svært forskjellige fra de som vises i dette reviderte årsregnskapet, med unntak av for disse underfondene:

- Invesco Emerging European Equity Fund: en økning i NAV på ca 1,48 % ville blitt observert.

- Invesco Latin American Equity Fund: en økning i NAV på ca 1,14 % ville blitt observert.

(d) Kostnaden av solgte investeringerEthvert overskudd eller underskudd på salg av investeringer fastsettes på grunnlag av gjennomsnittlig kostnad.

(e) Inntekter fra investeringerInntekter i form av utbytte bokføres eks.utbytte. Inntekter som kommer fra rentebærende verdipapirer og renter på bankinnskudd påløper daglig.

(f) Utenlandsk valutaTransaksjoner i andre valutaer enn den som det enkelte underfondet lyder på omsettes til den kursen som gjelder på transaksjonstidspunktet.

168 Invesco Funds



2. Sammendrag av viktige regnskapsprinsipper (Fortsettelse)

Markedsverdien av investeringene og andre aktiva og passiva i andre valutaer enn den som det enkelte underfondet lyder på omsettes til den

kursen som gjelder ved periodens avslutning.

De viktigste valutakursene som ble brukt 31 august 2010:

Valuta USD 1.00 Valuta USD 1.00


(g) Fordeling av kostnaderDer fondet pådrar seg kostnader som er forbundet med et særskilt underfond allokeres slike kostnader til det aktuelle underfondet. I sliketilfeller der kostnader ikke kan tilskrives et særskilt underfond allokeres slike kostnader mellom underfondene på grunnlag deres respektivenettoverdier.

(h) Startkostnader

Stiftelseskostnadene vil bli avskrevet i løpet av de første 5 årene. Underfond som ble lansert fra 2006 og framover, er gjenstand for en maksimal

avskriving i alle regnskapsår på 0.05 % av den gjennomsnittlige NAV-verdien. Eventuelle uavskrevne kostnader ved utgangen av de 5 årene eller

ved avviklingsdatoen, vil bæres av forvaltningsselskapet.

(i) ValutakontrakterUrealisert gevinst eller tap på åpne valutakontrakter beregnes som differansen mellom kursen på avtaletidspunktet og kursen vedoppfylling av kontrakten. (Se note 7 for detaljer.) Realiserte gevinster eller tap omfatter nettogevinster på kontrakter som er blitt sluttført eller

har inngått i kompensasjonsavtaler og er oppført i driftsregnskapet og endringer i netto eiendeler (bare oppgitt ved årsslutt).

(j) Terminkontrakter (futurekontrakter)

Finansielle derivativer blir opprinnelig inntektsført til kostpris og deretter verdsatt på nytt til virkelig verdi. Virkelig verdi fastsettes ut fraomsetningskurser og valutakurser. Alle derivater er bokført som eiendeler når fondet har fordringer på beløp, og som gjeld når fondetskylder beløp. Endringer i terminkontrakters virkelige verdi er tatt med i Resultatregnskapet (se note 8 for nærmere opplysninger.)

(k) KredittbytteavtalerKredittbytteavtaler verdsettes etter siste tilgjengelige pris på hovedmarkedet deres. De urealiserte gevinstene/tapene påkredittbytteavtaler er inkludert i balansen. Renten som er betalt og mottatt på disse kontraktene, vises som obligasjonsrente iegenkapitaloppstillingen.

(l) AksjeswapperEn aksjeswap er en derivattransaksjon der fondet og motparten inngår en avtale der en av partene betaler avkastningen som genereres aven aksje eller en aksjekurv. Den andre parten betaler rente basert på det avtalte nominelle transaksjonsbeløpet. Verdien avaksjeswaptransaksjonene er netto nåverdi av alle kontantstrømmer, både inngående og utgående. Aksjeswapper bokføres iResultatregnskapet.

(m) AksjeswapperEn aksjeswap er en derivattransaksjon der fondet og motparten inngår en avtale der en av partene betaler avkastningen som genereres av en

aksje eller en aksjekurv. Den andre parten betaler rente basert på det avtalte nominelle transaksjonsbeløpet. Renter som mottas/betales for

aksjeswapper blir bokført som annen inntekt/andre kostnader i driftsregnskapet og i endringer i netto eiendeler. Verdien av

aksjeswaptransaksjonene er netto nåverdi av alle kontantstrømmer, både inngående og utgående. Aksjeswapper bokføres i Resultatregnskapet (se

note 11 for nærmere opplysninger)..

3. Forvaltningshonorar og honorar til investeringsrådgiverStyremedlemmene i fondet (“styret”) er ansvarlige for investeringspolitikken, forvaltningen og administrasjonen av fondet. Styret delegerer den

daglige kapitalforvaltningen av fondets verdipapirportefølje til Invesco Management S.A., (“Forvaltningsselskapet”).

I oppfølgingen av investeringspolitikken til styret, får forvaltningsselskapet investeringsråd etter behov fra Invesco Asset Management Limited i

Storbritannia, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers i USA, Invesco Institutional i Canada og

Invesco Asset Management Deutschland GmbH i Tyskland.

169 Invesco Funds



3. Forvaltningshonorar og honorar til investeringsrådgiver (Fortsettelse)

For sine tjenester betales forvalteren et honorar i prosent av nettoverdien av hvert underfond som oppgitt i tabellen nedenfor:

Fond Forvaltnings- Forvaltnings- Forvaltnings- Forvaltnings- Forvaltnings- honorar honorar honorar honorar honorar

Klasse A Klasse B (inkluderer 1% Klasse B1 Klasse C Klasse Edistribusjonsgebyr)

AksjefondGlobaleInvesco Global Structured Equity Fund 1.00% - - 0.60% 1.50%

AmerikaInvesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50%



EuropaInvesco Pan European Structured Equity Fund 1.30% 2.30% - 0.80% 2.25%










TEMAFONDInvesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25%Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Pacific Real Estate Securities Fund 1.50% - - 1.00% 2.00%Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75%Invesco Emerging Markets Quantitative Equity Fund 1.25% - - 0.75% 1.75%Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00%%

RESERVEFONDInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50%Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50%

OBLIGASJONSFONDInvesco Global Bond Fund 0.75% - - 0.50% 0.90%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00%Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Euro Inflation-Linked Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco UK Investment Grade Bond Fund 0.625% - - - -Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00%Invesco Global Investment Grade Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Global Unconstrained Bond Fund 1.50% - - 1.00% 2.00%

STRUKTURERTE FONDInvesco Capital Shield 90 (EUR) Fund 1.00% 2.00% - 0.60% 1.50%

BLANDINGSFONDInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75%

Forvaltningshonorarene beregnes daglig basert på NAV av hvert underfond på hver virkedag og betales hver måned. Honorarene til

investeringsrådgiveren utbetales fra forvalterens godtgjørelse.

Når det gjelder den aktuelle perioden, ga forvaltningsselskapet delvis avkall på forvaltningshonoraret for Invesco USD Reserve Fund og Invesco

Euro Reserve Fund. Dette avkallet gjelder for alle andelsklasser.

Det er ikke noe årlig forvaltningshonorar for “I”-andeler.

170 Invesco Funds



4. Andre gebyrer og honorarerForvalteren får betalt et tilleggshonorar fra hvert fond ("serviceagenthonorar"). Serviceagenthonoraret for A- og E-andeler skal ikke overstige

0,40 % for aksjefond og temafond, 0,27 % for obligasjonsfond, 0,20 % for strukturerte fond, 0,13 % for reservefond, 0,35 % for Invesco Asia

Balanced Fund og 0,40 % for Invesco Pan European High Income Fund og Invesco Global Absolute Return Fund av NAV for hvert fond.

Serviceagenthonoraret for B-, B1- og C-andeler skal ikke overstige 0,30 % for aksjefond og temafond, 0,10 % for reservefond, 0,20 % for

obligasjonsfond (med unntak av Invesco Euro Inflation-Linked Bond Fund, som ikke skal overstige 0,10 %), 0,15 % for strukturerte fond og 0,30 %

for de blandede fondene av NAV for hvert fond. Fra dette serviceagenthonoraret skal forvalteren dekke honoraret til administrasjonsagenten,

domisil- og bedriftsagenten, registrar- og overføringsagenten og også honorarer til serviceytere og honorarer som er påløpt på steder der fondet

er registrert. Hvert av disse honorarene skal beregnes hver virkedag fra fondets NAV (med en rate som avtales i hvert tilfelle med forvalteren) og

betales hver måned. Dessuten skal forvalteren dekke kostnadene til fondets representant i Hong Kong.

I egenskap av depotmottaker har The Bank of New York Mellon (International) Limited rett til å få en godtgjørelse (“depotmottakergebyr”) i

samsvar med normal bankpraksis i Luxembourg til satser avtalt fra tid til annen med fondet, men gebyret skal ikke overstige 0,2 % (bortsett fra for

Invesco Asia Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund og Invesco Asia Consumer Demand Fund, som ikke skal overstige

0,3 %) per år av fondets NAV. Depotmottakergebyret beregnes daglig og betales månedlig. I tillegg kan depotmottakeren også belaste

transaksjonsgebyrer for hvert underfond.

Når det gjelder den aktuelle perioden, har forvaltningsselskapet etter eget skjønn samtykket i å betale driftskostnadene som belastes Invesco USD

Reserve Fund og Invesco Euro Reserve Fund.

Ledelsen Selskapet har blitt enig å plugge opporational omkostninger som blir ladet til de følgende sub-fondene på dets diskresjon, på de følgende

ratene :












5. SkattestatusFondet er registrert under loven i Luxembourg som et kollektivt investeringsselskap. Det innebærer at fondet ikke betaler skatt iLuxembourg på inntekt eller kapitalgevinst. Fondet betaler imidlertid en såkalt «taxe d’abonnement» som beregnes ut ifra en årlig rate på0,05 % av netto eiendelsverdi. De to reservefondene betaler en redusert årlig rate på 0,01 % av netto eiendelsverdi.samsvar meddistribusjonspolitikken til Invesco Global Bond Fund, distribueres inntekt i form av utbetaling av utbytte, kun til innehavere av A-aksjer.Inntekt som tilfaller innehavere av C- og E-aksjer reinvesteres for å øke verdien til C- og E-aksjene.

6. Utbytte I samsvar med Fondets distribusjonspolitikk, blir inntekt distribuert i form av utbetaling av utbytte, og bare til innehavere av andeler av klasse A og

C (distribusjonsandeler).

Invesco Emerging Local Currencies Debt Fund, andelsklasse A med månedlig utbytte som er basert på en avkastning som fastsettes årlig av styret.

For perioden fra 1. mars 2010 til 31. august 2010 ble avkastningen satt til 6,5 %. Per 31. august 2010 ble USD 819 158 i forvaltningshonorarer

og andre honorarer belastet kapitalen istedenfor inntektene i andelsklassen for den aktuelle perioden. Følgelig justerte styret avkastningen til

5,50 % fra 31. oktober 2010.

Opparbeidet inntekt for andelseiere av andeler av klasse A, C, E og I (akkumulasjonsandeler), blir reinvestert for å styrke verdien til andeler av

klasse A, C, E og I.

Andelstype Fordeling Frekvens Forfallsdato Fordeling Kurs Fordeling Dato

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Halvårlig 31 august 2010* 21 september 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Halvårlig 31 august 2010* 21 september 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Halvårlig 31 august 2010* 21 september 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Kvartalsmessig 31 mai 2010 21 juni 2010

A Dist 0.0206 Kvartalsmessig 31 august 2010* 21 september 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Halvårlig 31 august 2010* 21 september 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Halvårlig 31 august 2010* 21 september 2010

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Månedlig 31 mars 2010 21 april 2010A Dist 0.0291 Månedlig 30 april 2010 21 mai 2010A Dist 0.0310 Månedlig 31 mai 2010 21 juni 2010A Dist 0.0295 Månedlig 30 juni 2010 21 juli 2010A Dist 0.0310 Månedlig 30 juli 2010 23 august 2010A Dist 0.0299 Månedlig 31 august 2010* 21 september 2010

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Kvartalsmessig 31 mai 2010 21 juni 2010A Dist 0.0074 Kvartalsmessig 31 august 2010* 21 september 2010

171 Invesco Funds



6. Utbytte (Fortsettelse)Andelstype Fordeling Frekvens Forfallsdato Fordeling

Kurs Fordeling DatoInvesco Emerging Local Currencies Debt Fund

A Dist USD 0.0628 Månedlig 31 mars 2010 21 April 2010A Dist USD 0.0638 Månedlig 30 april 2010 21 May 2010A Dist USD 0.0602 Månedlig 31 mai 2010 21 June 2010A Dist USD 0.0603 Månedlig 30 juni 2010 21 July 2010A Dist USD 0.0628 Månedlig 30 juli 2010 23 August 2010A Dist USD 0.0630 Månedlig 31 August 2010* 21 September 2010A Dist EUR 0.0207 Månedlig # 31 August 2010* 21 September 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Månedlig 31 May 2010 21 June 2010A Dist 0.0370 Månedlig 30 June 2010 21 July 2010A Dist 0.0197 Månedlig 30 July 2010 23 August 2010A Dist 0.0308 Månedlig 31 August 2010* 21 September 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Kvartalsmessig 31 May 2010 21 June 2010A Dist 0.2063 Kvartalsmessig 31 August 2010* 21 September 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Kvartalsmessig 31 May 2010 21 June 2010A Dist 0.1153 Kvartalsmessig 31 August 2010* 21 September 2010

* Fordelinger med en ex dato 31 august 2010 og betaler dato den 21 september 2010 har ikke blitt reflektert i regnskapet.# Den første fordelingen var 31. august 2010.

7. Valutaterminkontrakt

Åpne valutaterminkontrakter pr. 31. august 2010:

Invesco Global Structured Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 1,653 USD Verkauf 1,288 EUR 20 07/09/2010

Kjøpe 3,010 USD Verkauf 1,933 GBP 26 07/09/2010

Kjøpe 260,000 SEK Verkauf 34,875 USD 259 15/09/2010

Kjøpe 100,000 GBP Verkauf 151,672 USD 2,640 15/09/2010

Kjøpe 423,843 USD Verkauf 270,000 GBP 7,200 15/09/2010

Kjøpe 340,000 AUD Verkauf 294,049 USD 8,063 15/09/2010

Kjøpe 820,000 CHF Verkauf 779,586 USD 25,946 15/09/2010

Kjøpe 220,000,000 JPY Verkauf 2,570,078 USD 38,228 15/09/2010

Kjøpe 4,151,492 USD Verkauf 4,280,000 CAD 112,893 15/09/2010

Total urealisert fortjeneste på åpne framtidige vekslingskontrakter 195,275

Kjøpe 6,433,478 USD Verkauf 587,200,002 JPY (528,324) 15/09/2010

Kjøpe 2,093,121 USD Verkauf 2,340,000 CHF (205,592) 15/09/2010

Kjøpe 2,662,213 USD Verkauf 1,800,000 GBP (115,408) 15/09/2010

Kjøpe 2,951,280 USD Verkauf 2,400,000 EUR (92,298) 15/09/2010

Kjøpe 2,143,847 USD Verkauf 2,500,000 AUD (77,568) 15/09/2010

Kjøpe 768,305 USD Verkauf 6,000,000 SEK (42,501) 15/09/2010

Kjøpe 750,000 EUR Verkauf 985,920 USD (34,802) 15/09/2010

Kjøpe 1,200,000 CAD Verkauf 1,161,871 USD (29,554) 15/09/2010

Kjøpe 300,000 GBP Verkauf 473,913 USD (10,976) 15/09/2010

Kjøpe 2,450,000 SEK Verkauf 340,918 USD (9,839) 15/09/2010

Kjøpe 670,000 AUD Verkauf 603,275 USD (7,936) 15/09/2010


Kjøpe 84,081 GBP Verkauf 133,690 USD (3,935) 07/09/2010

Kjøpe 591 USD Verkauf 468 EUR (3) 07/09/2010

Kjøpe 1,254 USD Verkauf 813 GBP (2) 07/09/2010

Sum urealisert tap på åpne valutaterminkontrakter (1,163,602)

Total urealisert tap på åpne framtidige vekslingskontrakter USD (968,327)

Invesco US Structured Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 30,948 USD Verkauf 24,096 EUR 391 07/09/2010

Total urealisert gevinst på åpne framtidige vekslingskontrakter 391


Kjøpe 29,514 USD Verkauf 23,329 EUR (74) 07/09/2010

Total urealisert tap på åpne framtidige vekslingskontrakter (27,809)


172 Invesco Funds



7. Valutaterminkontrakt (Fortsettelse)

Invesco US 130/30 Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 5,695 USD Verkauf 4,432 EUR 73 07/09/2010






Invesco Latin American Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 1,982 USD Verkauf 1,560 EUR 5 07/09/2010






Invesco Greater China Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 2,720 USD Verkauf 2,110 EUR 43 07/09/2010






Invesco Asia Infrastructure Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 24,329 USD Verkauf 18,813 EUR 469 07/09/2010






Invesco Asia Consumer Demand Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 35,067 EUR Verkauf 44,300 USD 171 07/09/2010Kjøpe 20,513 USD Verkauf 15,953 EUR 281 07/09/2010


Kjøpe 1,162,506 EUR Verkauf 1,512,253 USD (38,004) 07/09/2010Kjøpe 40,064 USD Verkauf 31,708 EUR (146) 07/09/2010



Invesco Energy Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 371,151 EUR Verkauf 468,867 USD 1,813 07/09/2010Kjøpe 1,798,149 USD Verkauf 1,375,050 EUR 54,361 07/09/2010

Total urealisert gevinst på åpne framtidige vekslingskontrakter 56,174

Kjøpe 9,286,651 EUR Verkauf 12,074,973 USD (297,976) 07/09/2010Kjøpe 365,180 USD Verkauf 288,713 EUR (953) 07/09/2010



173 Invesco Funds




Invesco Emerging Markets Quantitative Equity Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 3,149 USD Verkauf 2,019 GBP 32 07/09/2010Kjøpe 6,287 USD Verkauf 4,901 EUR 74 07/09/2010


Kjøpe 111,759 EUR Verkauf 147,355 USD (5,626) 07/09/2010Kjøpe 46,676 GBP Verkauf 74,201 USD (2,169) 07/09/2010Kjøpe 1,649 USD Verkauf 1,301 EUR (2) 07/09/2010


Total urealisert tap på åpne framtidige vekslingskontrakter USD (7,691)Invesco Gold & Precious Metals Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 34,929 USD Verkauf 27,239 EUR 386 07/09/2010


Kjøpe 716,023 EUR Verkauf 938,443 USD (30,406) 07/09/2010Kjøpe 20,316 USD Verkauf 16,045 EUR (34) 07/09/2010



Invesco Global Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 1,566,000 USD Verkauf 1,000,000 GBP 23,292 25/10/2010Kjøpe 3,862,220 USD Verkauf 3,000,000 EUR 57,761 20/09/2010

Total urealisert gevinst på åpne framtidige vekslingskontrakter USD 81,053

Invesco European Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 650,000 GBP Verkauf 786,378 EUR 4,379 29/10/2010Kjøpe 3,283,628 EUR Verkauf 2,690,000 GBP 11,109 29/10/2010


Kjøpe 410,132 EUR Verkauf 340,000 GBP (3,495) 29/10/2010Kjøpe 540,000 GBP Verkauf 660,244 EUR (3,307) 29/10/2010


Total urealisert gevinst på åpne framtidige vekslingskontrakter EUR 8,686

Invesco Absolute Return Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 320,000 TRY Verkauf 208,727 USD 172 08/09/2010Kjøpe 70,000 GBP Verkauf 84,925 EUR 257 08/09/2010Kjøpe 324,465 EUR Verkauf 1,300,000 PLN 287 08/09/2010Kjøpe 4,130,000 CNY Verkauf 606,283 USD 522 10/12/2010Kjøpe 386,972 USD Verkauf 12,000,000 RUB 827 10/12/2010Kjøpe 88,921 GBP Verkauf 107,302 EUR 906 07/09/2010Kjøpe 40,700,000 PHP Verkauf 893,916 USD 1,307 17/09/2010Kjøpe 930,000 PEN Verkauf 331,669 USD 1,654 10/12/2010Kjøpe 451,905 EUR Verkauf 370,000 GBP 1,658 08/09/2010Kjøpe 212,198 USD Verkauf 1,550,000 ZAR 2,036 08/09/2010Kjøpe 821,073 EUR Verkauf 1,100,000 CAD 2,507 08/09/2010Kjøpe 432,051 USD Verkauf 20,220,000 INR 2,730 17/09/2010Kjøpe 223,350,000 HUF Verkauf 773,283 EUR 3,114 08/09/2010Kjøpe 1,327,629 USD Verkauf 9,000,000 CNY 3,935 10/12/2010Kjøpe 468,089 USD Verkauf 555,410,000 KRW 3,965 08/09/2010Kjøpe 810,000 USD Verkauf 632,996 EUR 5,724 08/09/2010Kjøpe 1,470,000 PEN Verkauf 517,606 USD 6,794 17/09/2010Kjøpe 3,310,000 ILS Verkauf 856,249 USD 7,686 07/09/2010Kjøpe 19,250,000 PHP Verkauf 414,246 USD 7,696 08/09/2010Kjøpe 224,454 USD Verkauf 257,000,000 KRW 8,117 17/09/2010Kjøpe 714,177 EUR Verkauf 5,650,000 NOK 8,626 08/09/2010Kjøpe 2,900,000 ARS Verkauf 719,782 USD 8,771 17/09/2010Kjøpe 5,650,000 NOK Verkauf 696,661 EUR 8,890 08/09/2010Kjøpe 9,810,000 SEK Verkauf 1,035,203 EUR 10,256 08/09/2010Kjøpe 2,550,000 ZAR Verkauf 331,143 USD 10,810 08/09/2010Kjøpe 650,000 CHF Verkauf 492,297 EUR 11,184 08/09/2010Kjøpe 1,360,000 MYR Verkauf 418,311 USD 11,467 17/09/2010Kjøpe 857,135 USD Verkauf 3,220,000 ILS 11,592 08/09/2010Kjøpe 1,830,986 USD Verkauf 12,350,000 CNY 13,630 27/09/2010Kjøpe 626,415 EUR to Sell 770,000 USD 19,238 08/09/2010Kjøpe 1,124,433 EUR Verkauf 317,450,000 HUF 20,931 08/09/2010Kjøpe 2,720,000 PLN Verkauf 657,188 EUR 21,092 08/09/2010Kjøpe 705,629 EUR Verkauf 3,310,000 ILS 22,756 07/09/2010Kjøpe 37,800,000 JPY Verkauf 418,073 USD 23,693 08/09/2010


174 Invesco Funds




Invesco Absolute Return Bond Fund (Fortsettelse) urealisertDetaljer om terminvalutakontrakter gevinst/(tap) Forfallsdato

Kjøpe 4,224,053 EUR Verkauf 5,560,799 USD (160,871) 08/09/2010Kjøpe 2,442,312 EUR Verkauf 274,750,000 JPY (126,098) 08/09/2010Kjøpe 845,791 USD Verkauf 40,690,000 PHP (39,083) 17/09/2010Kjøpe 977,979 EUR Verkauf 25,050,000 CZK (31,517) 08/09/2010Kjøpe 1,022,162 EUR Verkauf 9,810,000 SEK (23,297) 08/09/2010Kjøpe 12,350,000 CNY Verkauf 1,841,223 USD (21,702) 27/09/2010Kjøpe 4,630,000 MXN Verkauf 295,998 EUR (18,594) 08/09/2010Kjøpe 1,488,037 USD Verkauf 2,050,000 SGD (18,517) 08/09/2010Kjøpe 662,872 EUR Verkauf 2,730,000 PLN (17,901) 08/09/2010Kjøpe 1,650,771 EUR Verkauf 1,370,000 GBP (16,357) 08/09/2010Kjøpe 13,340,000 CNY Verkauf 1,978,158 USD (13,969) 10/12/2010Kjøpe 499,207 EUR Verkauf 660,000 CHF (12,021) 08/09/2010Kjøpe 94,100,000 HUF Verkauf 339,062 EUR (11,957) 08/09/2010Kjøpe 420,968 USD Verkauf 36,700,000 JPY (11,127) 08/09/2010Kjøpe 12,000,000 RUB Verkauf 400,000 USD (11,102) 10/12/2010Kjøpe 709,677 USD Verkauf 363,000,000 CLP (9,659) 10/12/2010Kjøpe 257,000,001 KRW Verkauf 224,454 USD (8,117) 17/09/2010Kjøpe 303,178 USD Verkauf 1,240,000 ARS (7,370) 17/09/2010Kjøpe 434,751 EUR Verkauf 4,140,000 ZAR (6,736) 08/09/2010Kjøpe 270,000 USD Verkauf 219,129 EUR (6,223) 08/09/2010Kjøpe 2,050,000 SGD Verkauf 1,197,080 EUR (5,185) 08/09/2010Kjøpe 3,220,000 ILS Verkauf 848,740 USD (4,972) 08/09/2010Kjøpe 58,000,000 KZT Verkauf 396,717 USD (2,758) 17/09/2010Kjøpe 555,400,001 KRW Verkauf 466,091 USD (2,396) 08/09/2010Kjøpe 415,252 USD Verkauf 470,000 AUD (2,173) 08/09/2010Kjøpe 431,198 USD Verkauf 1,360,000 MYR (1,305) 17/09/2010Kjøpe 20,220,000 INR Verkauf 429,208 USD (488) 17/09/2010

Kjøpe 208,877 USD Verkauf 320,000 TRY (54) 08/09/2010

Sum urealisert tap på åpne valutaterminkontrakter (591,549)

Sum urealisert tap på åpne valutaterminkontrakter EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 2,710,547 EUR Verkauf 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 1,400,000 EUR Verkauf 1,137,724 GBP 12,693 01/09/2010Kjøpe 5,806,757 GBP Verkauf 6,920,000 EUR 120,409 01/09/2010Kjøpe 3,040,390 GBP Verkauf 4,430,000 USD 169,917 01/09/2010


Kjøpe 1,900,000 USD Verkauf 1,313,016 GBP (81,888) 01/09/2010Kjøpe 1,794,291 GBP Verkauf 2,860,000 USD (58,881) 01/09/2010Kjøpe 3,477,960 GBP Verkauf 5,390,000 USD (16,730) 01/12/2010Kjøpe 4,525,139 GBP Verkauf 5,520,000 EUR (12,930) 01/12/2010


Total urealisert gevinst på åpne framtidige vekslingskontrakter GBP 132,590

Invesco Emerging Local Currencies Debt Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 32,236 EUR Verkauf 40,722 USD 158 07/09/2010Kjøpe 1,113,406 USD Verkauf 863,577 EUR 18,249 07/09/2010Kjøpe 3,056,400 TRY Verkauf 1,946,628 USD 37,386 12/10/2010Kjøpe 9,767,450 SGD Verkauf 7,052,310 USD 149,432 12/10/2010Kjøpe 464,999,999 PHP Verkauf 10,000,000 USD 220,603 27/09/2010Kjøpe 226,555,000 THB Verkauf 6,990,281 USD 246,472 06/10/2010

Sum urealisert gevinst på åpne valutaterminkontrakter 672,300

Kjøpe 34,047,913 EUR Verkauf 44,675,847 USD (1,497,502) 07/09/2010Kjøpe 11,030,760 USD Verkauf 9,000,000 EUR (382,720) 07/09/2010Kjøpe 87,763,000 CNY Verkauf 13,000,000 USD (106,354) 12/11/2010Kjøpe 89,820,000 RUB Verkauf 3,000,000 USD (102,851) 08/11/2010Kjøpe 33,725,000 CNY Verkauf 5,000,000 USD (45,091) 19/11/2010Kjøpe 22,262,499,999 IDR Verkauf 2,500,000 USD (37,399) 03/09/2010Kjøpe 2,400,000 USD Verkauf 7,568,400 MYR (7,113) 27/09/2010

Sum urealisert tap på åpne valutaterminkontrakter (2,179,030)

Sum urealisert tap på åpne valutaterminkontrakter USD (1,506,730)

175 Invesco Funds




Invesco Global Investment Grade Corporate Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 132,231 USD Verkauf 84,861 GBP 1,264 01/09/2010Kjøpe 1,154,570 USD Verkauf 745,000 GBP 5,527 01/12/2010Kjøpe 170,000 GBP Verkauf 254,124 USD 8,237 01/09/2010Kjøpe 4,625,638 USD Verkauf 3,640,000 EUR 10,196 01/12/2010Kjøpe 585,000 EUR Verkauf 718,458 USD 23,422 01/09/2010Kjøpe 1,755,679 USD Verkauf 1,340,000 EUR 56,331 01/09/2010


Kjøpe 4,186,915 EUR Verkauf 5,523,484 USD (213,788) 07/09/2010Kjøpe 3,727,116 USD Verkauf 3,035,000 EUR (121,783) 01/09/2010Kjøpe 1,201,799 USD Verkauf 830,000 GBP (79,141) 01/09/2010Kjøpe 150,000 EUR Verkauf 194,808 USD (4,582) 01/09/2010Kjøpe 89,554 GBP Verkauf 142,420 USD (4,218) 07/09/2010


Sum urealisert tap på åpne valutaterminkontrakter USD (318,535)

Invesco Global Unconstrained Bond Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 1,339,464 GBP Verkauf 1,600,001 EUR 24,518 20/09/2010


Kjøpe 43,600 GBP Verkauf 70,000 CHF (966) 20/09/2010Kjøpe 81,321 EUR Verkauf 67,528 GBP (702) 07/09/2010


Sum urealisert gevinst på åpne valutaterminkontrakter GBP 22,850

Invesco Capital Shield 90 (EUR) Fund (Fortsettelse) urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 100,000 GBP Verkauf 121,631 EUR 51 15/09/2010Kjøpe 834,387 EUR Verkauf 685,000 GBP 864 15/09/2010Kjøpe 55,899,999 JPY Verkauf 512,379 EUR 10,226 15/09/2010


Kjøpe 26,269,838 EUR Verkauf 33,850,000 USD (422,432) 15/09/2010Kjøpe 1,267,656 EUR Verkauf 138,700,001 JPY (29,043) 15/09/2010Kjøpe 33,500,000 JPY Verkauf 313,994 EUR (804) 15/09/2010Kjøpe 121,242 EUR Verkauf 100,000 GBP (441) 15/09/2010Kjøpe 95,000 GBP Verkauf 115,858 EUR (260) 15/09/2010



Invesco Asia Balanced Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 526,707 USD Verkauf 412,508 EUR 3,579 07/09/2010


Kjøpe 3,556,131 EUR Verkauf 4,674,162 USD (164,404) 07/09/2010


Sum urealisert tap på åpne valutaterminkontrakter USD (160,825)

176 Invesco Funds




Invesco Pan European High Income Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 2,265,144 EUR to Sell 1,850,000 GBP 14,527 29/10/2010

Total urealisert fortjeneste på åpne framtidige vekslingskontrakter 14,527

Kjøpe 1,789,848 EUR Verkauf 1,500,000 GBP (35,322) 20/09/2010Kjøpe 709,161 EUR Verkauf 600,000 GBP (20,871) 27/09/2010Kjøpe 656,403 EUR Verkauf 550,000 GBP (12,859) 13/09/2010Kjøpe 140,741 EUR Verkauf 190,000 CHF (6,525) 16/11/2010Kjøpe 2,608,938 EUR Verkauf 2,150,000 GBP (6,438) 16/11/2010Kjøpe 1,573,787 EUR Verkauf 2,000,000 USD (3,414) 29/10/2010Kjøpe 120,642 EUR Verkauf 100,000 GBP (1,022) 12/10/2010Kjøpe 303,693 EUR Verkauf 250,000 GBP (450) 25/10/2010


Total urealisert tap på åpne framtidige vekslingskontrakter EUR (72,374)

Invesco Global Absolute Return Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 528 EUR Verkauf 669 USD 1 07/09/2010Kjøpe 74,532 EUR Verkauf 100,000 CAD 108 01/09/2010Kjøpe 68,262 USD Verkauf 51,815 EUR 2,013 07/09/2010Kjøpe 5,000,000 JPY Verkauf 43,881 EUR 2,855 01/09/2010Kjøpe 1,200,000 USD Verkauf 935,490 EUR 10,755 01/09/2010Kjøpe 900,000 GBP Verkauf 1,080,049 EUR 15,206 01/09/2010


Kjøpe 1,986,806 EUR Verkauf 2,600,000 USD (63,392) 01/09/2010Kjøpe 736,761 EUR Verkauf 1,000,000 CHF (37,775) 01/09/2010Kjøpe 279,831 EUR Verkauf 31,000,000 JPY (9,935) 01/09/2010Kjøpe 1,300,000 CAD Verkauf 973,492 EUR (5,976) 01/09/2010Kjøpe 614,170 EUR Verkauf 800,000 CHF (5,620) 01/10/2010Kjøpe 700,000 GBP Verkauf 855,327 EUR (3,644) 01/10/2010Kjøpe 334,271 EUR Verkauf 36,000,000 JPY (2,355) 01/10/2010Kjøpe 156,981 EUR Verkauf 200,000 USD (730) 01/10/2010Kjøpe 73,919 EUR Verkauf 100,000 CAD (506) 01/09/2010Kjøpe 121,551 EUR Verkauf 100,000 GBP (144) 01/09/2010Kjøpe 594 EUR Verkauf 764 USD (8) 07/09/2010Kjøpe 600,000 CAD Verkauf 446,332 EUR (1) 01/10/2010


Total urealisert tap på åpne framtidige vekslingskontrakter EUR (99,148)

Invesco Balanced-Risk Allocation Fund urealisertDetaljer om terminvalutakontrakter gevinst/(tap) ForfallsdatoKjøpe 122,772 GBP Verkauf 148,129 EUR 1,272 07/09/2010Kjøpe 136,947 USD Verkauf 103,941 EUR 4,048 07/09/2010Kjøpe 8,703,663 EUR Verkauf 10,702,000 USD 264,717 03/09/2010


Kjøpe 3,347,000 USD Verkauf 2,672,478 EUR (33,238) 03/09/2010Kjøpe 860,684 EUR Verkauf 1,100,000 USD (6,710) 03/09/2010Kjøpe 1,425 GBP Verkauf 1,740 EUR (6) 07/09/2010


Total urealisert gevinst på åpne framtidige vekslingskontrakter EUR 230,083

8. Terminkontrakt

Beskrivelse Antall kontrakter Engasjement Lang/kort Urealisert gevinst/(tap)i underfond basisvaluta

Invesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Lang (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Lang (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Lang (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Lang (2,854)


Invesco US Structured Equity FundS&P 500 EMINI 17/09/2010 29 1,566,338 Lang (55,619)


Invesco US 130/30 Equity FundS&P 500 EMINI 17/09/2010 1 55,125 Lang (3,031)


177 Invesco Funds



8. Terminkontrakt (Fortsettelse)

Beskrivelse (Fortsettelse) Antall kontrakter Engasjement Lang/kort Urealisert gevinst/(tap)i underfond basisvaluta

Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Lang (251,895)FTSE 100 Index Future 17/09/2010 69 4,303,963 Lang (26,928)

Sum urealisert tap på terminkontrakter EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Lang (4,065)FTSE 100 Index Future 17/09/2010 1 62,726 Lang (1,034)


Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Kort (168,760)US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Kort (27,344)Long Gilt Future 29/12/2010 (10) (1,939,476) Kort (4,899)

Sum urealisert tap på terminkontrakter USD (201,003)

Invesco European Bond FundEuro Bobl Future 08/09/2010 6 730,020 Lang 5,490

Sum urealisert gevinst på terminkontrakter 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Kort (44,000)Euro Bund Future 08/09/2010 (16) (2,117,250) Kort (33,710)Long Gilt Future 29/12/2010 (34) (5,193,777) Kort (13,176)

Sum urealisert tap på terminkontrakter (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Kort 2,860Euro Bund Future 08/09/2010 3 389,271 Lang 14,034


US 10 Year Note Future 21/12/2010 (11) (1,092,052) Kort (566)Long Gilt Future 29/12/2010 (6) (912,789) Kort (3,345)Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Kort (29,059)Euro Bobl Future 08/09/2010 (60) (7,236,900) Kort (118,200)



Invesco Euro Corporate Bond FundEuro Bund Future 08/09/2010 (2,100) (268,455,00) Kort (13,858,500)

Sum urealisert tap på terminkontrakter EUR (13,858,500)

Invesco Euro Inflation-Linked Bond FundEuro Bund Future 08/09/2010 (110) (14,396,620) Kort (391,230)


Invesco UK Investment Grade Bond FundUS 5 Year Note Future 31/12/2010 (12) (929,317) Kort 974

Sum urealisert gevinst på terminkontrakter 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Kort (28,201)US 10 Year Note Future 21/12/2010 (29) (2,343,750) Kort (1,753)Long Gilt Future 29/12/2010 (6) (750,060) Kort (1,440)


Sum urealisert tap på terminkontrakter GBP (30,420)

178 Invesco Funds



8. Terminkontrakt (Fortsettelse)

Beskrivelse Antall kontrakter Engasjement Lang/kort Urealisert gevinst/(tap)i underfond basisvaluta

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Kort 719

Canada 10 Year Bond Future 20/12/2010 2 237,398 Lang 817

Euro Schatz Future 08/09/2010 3 403,862 Lang 1,235

10 Year Mini JGB Future 08/09/2010 2 308,414 Lang 5,034

Euro Bobl Future 08/09/2010 2 296,765 Lang 5,039

US Long Bond (CBT) Future 21/12/2010 6 802,875 Lang 5,719

US 5 Year Note Future 31/12/2010 60 7,193,250 Lang 12,609


US 10 Year Note Future 21/09/2010 (53) (6,473,914) Kort (219,406)

US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Kort (914)


Sum urealisert tap på terminkontrakter USD (189,148)

Invesco Capital Shield 90 (EUR) FundUS 10 Year Note Future 21/12/2010 404 39,873,681 Lang 53,955

10 Year Mini JGB Future 08/09/2010 214 27,158,681 Lang 267,653

Euro Bund Future 08/09/2010 298 38,814,270 Lang 1,247,360

Sum urealisert gevinst på terminkontrakter 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Lang (1,242,045)

Nikkei 225 Future 09/09/2010 249 10,680,824 Lang (923,938)

DJ Euro Stoxx 50 Future 17/09/2010 347 9,459,120 Lang (477,025)

FTSE 100 Index Future 17/09/2010 143 8,990,297 Lang (163,962)

Sum urealisert tap på terminkontrakter (2,806,970)

Sum urealisert tap på terminkontrakter EUR (1,238,002)

Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Lang 2,250

10 Year Mini JGB Future 08/09/2010 5 634,004 Lang 8,590

Euro Bund Future 08/09/2010 10 1,319,690 Lang 24,660


S&P 500 EMINI 17/09/2010 13 563,239 Lang (20,516)

DJ Euro Stoxx 50 Future 17/09/2010 19 504,650 Lang (12,835)

Nikkei 225 Future 09/09/2010 5 211,722 Lang (9,189)

FTSE 100 Index Future 17/09/2010 4 250,095 Lang (488)



Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Lang 3,256

Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Lang 13,343

Long Gilt Future 29/12/2010 28 4,257,975 Lang 17,308

Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Lang 39,533

10 Year Mini JGB Future 08/09/2010 67 8,635,365 Lang 132,934

Euro Bund Future 08/09/2010 42 5,427,430 Lang 218,840


Russell 2000 Mini Future 17/09/2010 27 1,376,550 Lang (81,086)

S&P 500 EMINI 17/09/2010 39 1,700,904 Lang (76,142)

DJ Euro Stoxx 50 Future 17/09/2010 58 1,576,490 Lang (75,160)

Topix Index Future 09/09/2010 9 705,392 Lang (47,829)

Hang Seng Index Future 29/09/2010 14 1,453,370 Lang (12,773)

FTSE 100 Index Future 17/09/2010 25 1,561,823 Lang (9,829)


Sum urealisert gevinst på terminkontrakter EUR 122,395

179 Invesco Funds



9. Kredittbytteavtaler

Kjøp/Salg av Nominell Urealisertrisiko Klasse Forfallsdag verdi Markedsverdi Valuta gevinst/tap

i underfondbasis valuata

Invesco Absolute Return Bond FundKjøpe Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Sum urealisert gevinst på terminkontrakter EUR 51,684

Invesco Global Unconstrained Bond FundKjøpe Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196


Verkauf French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

Verkauf Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

Verkauf Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)


Sum urealisert tap på terminkontrakter GBP (33,367)

Invesco Pan European High Income FundVerkauf Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411Verkauf British Energy 4.55% 20/03/2013 300,000 EUR 30,869Kjøpe Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145

Sum urealisert gevinst på rentebytteavtaler EUR 102,425

10 Aksjeswapper Ingen av fondene hadde rentebytteavtaler ved periodens sluttden 31 august 2010.

11 Equity Swaps

Invesco US 130/30 Equity FundUnderliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaAK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Sum urealisert gevinst på rentebytteavtaler 36,330

180 Invesco Funds



181 Invesco Funds

11 Equity Swaps (Fortsettelse)

Invesco US 130/30 Equity Fund (Fortsettelse)Underliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaAgnico-Eagle Mines Ltd (500) USD (31,215) (0.81%) (1,230)

American Express Co 700 USD 29,078 0.75% (1,145)

Apple Inc 50 USD 12,382 0.32% (256)

AT&T Inc 4,000 USD 106,600 2.77% (60)

Babcock & Wilcox Co (450) USD (9,963) (0.26%) (502)

Chevron Corp 1,200 USD 93,252 2.42% (4,697)

Ciena Corp (2,200) USD (26,444) (0.69%) (1,683)

Clearwire Corp (1,800) USD (11,556) (0.30%) (81)

Coca-Cola Co 400 USD 22,352 0.58% (140)

ConocoPhillips 400 USD 21,972 0.57% (902)


Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)



Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)


Pfizer Inc 4,700 USD 75,341 1.96% (846)




ProLogis (300) USD (3,060) (0.08%) (167)



Sum urealisert tap på rentebytteavtaler (44,706)

Sum urealisert tap på rentebytteavtaler USD (8,376)

Invesco Pan European 130/30 Equity FundUnderliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaAir France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178




182 Invesco Funds


Invesco Pan European 130/30 Equity Fund (Fortsettelse)Underliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaActelion Ltd (2,548) CHF (103,092) (1.63%) (5,342)Anglo American Plc 1,167 GBP 31,299 0.79% (5,878)Atkins WS Plc 7,278 GBP 50,143 1.28% (41)Barclays Plc 8,146 GBP 24,992 0.63% (1,282)BHP Billiton Plc 3,912 GBP 74,758 1.88% (6,394)British Land Co Plc 2,707 GBP 12,596 0.32% (648)BT Group Plc 60,437 GBP 84,491 2.13% (6,067)Compass Group Plc 15,159 GBP 80,707 2.06% (228)Credit Suisse Group AG 157 CHF 7,153 0.11% (180)Galp Energia SGPS SA (2,516) EUR (31,136) (0.65%) (830)HSBC Holdings Plc 18,828 GBP 122,457 3.09% (4,102)Indra Sistemas SA (6,705) EUR (86,083) (1.80%) (746)Orkla ASA (12,031) NOK (579,894) (1.54%) (4,536)Roche Holding AG 256 CHF 40,115 0.60% (3,613)Royal Dutch Shell Plc 'A' Shares 5,805 GBP 104,375 2.63% (6,174)Royal Dutch Shell Plc 'B' Shares 4,477 GBP 77,049 1.94% (3,862)Schroders Plc 760 GBP 10,374 0.26% (80)Stagecoach Group Plc 25,235 GBP 46,962 1.19% (4,715)Syngenta AG (405) CHF (94,431) (1.52%) (170)Tullow Oil Plc (546) GBP (6,339) (0.16%) (199)Verbund AG (2,504) EUR (68,635) (1.44%) (858)Whitbread Plc 227 GBP 3,375 0.09% (282)


Sum urealisert gevinst på rentebytteavtaler EUR 65,683

Invesco Global Absolute Return FundUnderliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaAbertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294






BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915











183 Invesco Funds


Invesco Global Absolute Return Fund (Fortsettelse)Underliggende Antall Valuta Tilsagn i Tilsagn i % av Urealisert gevinstaksje underliggende lokal valuta fondets NAV /(tap)i underfond

basisvalutaFirst Niagara Financial Group Inc (1,600) USD (21,312) (0.36%) 2,453




Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391



Dollar Tree 600 USD 29,622 0.42% 2,977

Dsg International (24,833) GBP (8,853) (0.19%) 1,490

Ebay 1,000 USD 22,470 0.31% 386

Edp Renovaveis (3,035) EUR (20,395) (0.39%) 2,253



Hubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925



Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314




Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104





184 Invesco Funds



basisvalutaSchindler Holding AG 307 CHF 28,720 0.47% 1,195










Terex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162









AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)

Alexion Pharmaceuticals (400) USD (18,964) (0.27%) (458)

Amgen Inc 776 USD 41,066 0.70% (829)












Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)




185 Invesco Funds



basisvalutaDaito Trust Construction Co Ltd 400 JPY 1,946,973 0.37% (209)

Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)





Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)










K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)






Masco Corp 1,698 USD 19,069 0.32% (1,094)










Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









186 Invesco Funds



basisvalutaOccidental Petroleum Corp 285 USD 23,399 0.40% (1,835)Oil States International Inc 600 USD 25,974 0.44% (960)Omnicare Inc 700 USD 17,710 0.30% (3,092)Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)Patterson-UTI Energy Inc 991 USD 14,746 0.25% (122)Peabody Energy Corp 400 USD 17,280 0.29% (447)Plains Exploration & Production Co (1,700) USD (36,056) (0.61%) (4,048)Potash Corp of Saskatchewan Inc (300) CAD (30,747) (0.51%) (12,007)Pulte Group Inc 800 USD 6,824 0.12% (295)Ralcorp Holdings Inc (600) USD (33,288) (0.57%) (1,794)Reckitt Benckiser Group Plc 583 GBP 18,953 0.49% (56)Reliance Steel & Aluminum Co 400 USD 14,788 0.25% (95)Rent-A-Center Inc 1,500 USD 33,405 0.57% (2,697)Rentokil Initial Plc 6,121 GBP 6,794 0.18% (1,401)Resona Holdings Inc 700 JPY 682,500 0.13% (914)Rhodia SA 1,221 EUR 18,724 0.41% (757)Ross Stores Inc 1,000 USD 54,677 0.93% (3,310)RR Donnelley & Sons Co 1,200 USD 20,532 0.35% (1,807)Russel Metals Inc 3,100 CAD 59,985 0.99% (630)Sara Lee Corp 907 USD 13,052 0.22% (34)Seagate Technology Plc 1,800 USD 26,586 0.45% (5,825)Sega Sammy Holdings Inc 1,900 JPY 2,481,400 0.48% (1,126)Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)Shire Plc 665 GBP 9,789 0.25% (652)Shoppers Drug Mart Corp (2,400) CAD (86,766) (1.42%) (247)Silver Standard Resources Inc (1,200) CAD (20,868) (0.34%) (1,109)Singapore Post Ltd 40,000 SGD 45,680 0.56% (149)SKF AB 1,529 SEK 209,448 0.48% (895)Sony Financial Holdings Inc 8 JPY 2,468,000 0.48% (2,488)Sprint Nextel Corp 4,100 USD 19,270 0.33% (2,531)Stagecoach Group Plc 18,267 GBP 33,476 0.87% (2,706)Stanley Black & Decker Inc (900) USD (46,811) (0.79%) (938)Stericycle Inc (300) USD (19,761) (0.34%) (87)STMicroelectronics NV 2,229 EUR 15,068 0.33% (3,377)STMicroelectronics NV (Sicovam) 4,580 EUR 31,034 0.67% (7,019)Svenska Handelsbanken AB 752 SEK 154,912 0.36% (1,178)Symantec Corp 1,849 USD 27,587 0.47% (1,725)Telephone & Data Systems Inc 846 USD 27,140 0.46% (1,047)Tieto OYJ 607 EUR 8,516 0.19% (604)TNT NV 737 EUR 15,879 0.34% (1,323)Tokio Marine Holdings Inc 600 JPY 1,447,200 0.28% (909)Toro Co 400 USD 20,128 0.34% (200)Toyo Suisan Kaisha Ltd 1,000 JPY 2,038,000 0.39% (2,365)Toyota Motor Corp 600 JPY 1,905,000 0.37% (1,754)TransAlta Corp (1,200) CAD (25,104) (0.41%) (158)Trend Micro Inc 500 JPY 1,272,500 0.25% (1,199)TUI AG 2,338 EUR 18,849 0.41% (539)Tullow Oil Plc (1,527) GBP (17,454) (0.45%) (922)USS Co Ltd 180 JPY 1,148,400 0.22% (296)Vishay Intertechnology Inc 4,300 USD 35,432 0.60% (2,026)Wal-Mart Stores Inc (800) USD (40,328) (0.69%) (76)Weatherford International Ltd (400) USD (5,924) (0.10%) (100)Yamato Holdings Co Ltd 4,100 JPY 4,512,255 0.87% (4,298)Yara International ASA (270) NOK (57,105) (0.16%) (1,194)Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Sum urealisert tap på rentebytteavtaler EUR (78,570)

12. Svingende kursfastsettelsVerdipapirer verdivurderes som angitt i note 2(b). For å dempe utvanningseffekten, har fondet imidlertid iverksatt en “Swing Pricing”-politikk fra og med 18. desember 2007.

Styret kan i andelseiernes beste interesse tillate at NAV justeres ved hjelp av kjøps- eller salgskurs i stedet for midtkurs, avhengig av nettoandelsaktivitet som oppstår gjennom tegninger, innløsninger eller bytting i et underfond på en bestemt virkedag.

Underfondene følger Swing Pricing-politikken bare delvis. Det vil si at underfondene ikke svinger til enten en kjøps- eller salgskurs daglig,men bare når en forhåndsbestemt terskel for andelseieraktivitet overstiges. Høye innløsningsnivåer utløser en svingning ut fra kjøpskurs,mens høye tegningsnivåer utløser en svingning ut fra salgskurs. Styret har mulighet til å sette underfondet i en konstant svingningavhengig av den senere tids utvikling i et underfond.



187 Invesco Funds

12. Svingende kursfastsettels (Fortsetteise)Avstemmingen den 31. august 2010 av midtkurs til kjøps-/salgskurs er som følger:KjøpskursfastsettelsBID Pricing A Dist. A Accum Dist A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I Accum

Hedg Hedg (EUR) C Hedg (GBP)Invesco US Structured Equity Fund Mid Valuation - 11.50 - 6.38 10.67 - 11.93 6.63 - 8.53 9.12 Bid Valuation - 11.48 - 6.36 10.65 - 11.91 6.62 - 8.52 9.11

Invesco Nippon Small/Mid Cap Equity Fund Mid Valuation - 516.56 - - 460.00 - 547.33 - - 4.47 4.88Bid Valuation - 514.91 - - 458.53 - 545.58 - - 4.46 4.87 Invesco Global Leisure Fund Mid Valuation - 15.33 - - 13.47 - 16.17 - - 11.20 - Bid Valuation - 15.30 - - 13.45 - 16.14 - - 11.18 -


ASK Pricing





13. Endringer i investeringerPå forespørsel og uten vederlag kan man få en liste som spesifiserer alle kjøp og salg som ble foretatt i løpet av året som blir gjennomgåttfor hver investering, fra forretningskontoret og fondets representasjonskontor i Hong Kong.

14. Distributørstatus

For britiske skatteformål ble det søkt om og innvilget sertifisering som "distribusjonsfond" i henhold til den britiske loven Income and CorporationTaxes Act 1988, for året som sluttet 28. februar 2010, for A- og C-distribusjonsandeler av følgende fond (der det er aktuelt): Det var ingenverdipapirer på lån per 31. august 2010. Inntekter fra verdipapirlån er ført under “Andre inntekter” i driftsregnskapet og endringer i nettoeiendeler (bare oppgitt ved årsslutt).


15. AksjeutlånFondet inngikk en aksjeutlånsavtale med State Street i november i 2007.

Det var ingen papirer på lån i 31 august 2010

Security utlån inntekter er registrert under “Ander Income” in den Statement of Operations og endringer i Nett Eiendeler (utleveres vedutgangen av året bare).

16. Myke provisjoner og transaksjoner med tilknyttede parterVisse datterselskaper av AMVESCAP PLC (“konsernet”) kan, i samsvar med å oppnå beste nettoresultat, inkludert best gjennomføring, inngåavtaler med motparter der disse motpartene kan betale for investeringstjenester ytet konsernet.

Investeringstjenester brukes av konsernet for å forbedre eller supplere tjenestene konsernet gir sine kunder. Selv om hver eneste tjenesteikke brukes for å betjene hver eneste kundekonto forvaltet av konsernet, anser konsernet at disse investeringstjenestene som mottas samleter til betydelig hjelp for å innfri dets investeringsforpliktelser og er til påviselig nytte for alle kunder. Kun tjenester som hjelperytelsen av investeringstjenester til konsernets kunder vil bli betalt av motparter.

Tillatte investeringstjenester inkluderer tjenester som hjelper konsernets investeringsresultater. Disse tjenestene inkluderer, men er ikkenødvendigvis begrenset til, leveranse av analyse, undersøkelser og rådgivningstjenester om økonomiske faktorer og trender, porteføljeverdsettelseog -analyse, resultatmåling, markedskurstjenester og bruken av spesialisert programvare og maskinvare eller andre informasjonsmidler.

Konsernet vil sørge for at dets forpliktelser med hensyn til investeringsavgjørelser følger lovene i de landene som har jurisdiksjon over detskunder eller forretningsdrift. Dette kan variere i anvendelse med hensyn til skikketheten til de investeringstjenestene som ytes.

Konsernet velger motparter til å utføre transaksjoner på grunnlag av at transaksjonene vil kun bli utført forutsatt at plassering av ordre ikkevil være i mot konsernets kunders' beste interesse og at faktoren er på et nivå som er generelt akseptert i markedet. Konsernet vil bestrebeseg på å anskaffe best mulig utførelse av alle transaksjoner for alle kunder.

I tillegg kan kunder gi konsernet instruks om å betale provisjon til motparter for produkter og tjenester som det ellers måtte betales for. I sliketilfeller skal provisjonen eksklusivt brukes til nytte for den kunden som var opphav til transaksjonene som genererte denne provisjonen.

Konsernet vil bestrebe seg på å opprettholde høyest mulige standard verden over med hensyn til overholdelse av lover og forskrifter.



188 Invesco Funds

PART TWO


189 Invesco Funds

PageSeitePageSide

Statement of Prospetto degli Inventario de DemonstraçãoInvestments investimenti las Inversiones de Investimentos

Equity Funds Comparti Azionari Fondos de Renta Variable Fundos de Acçes

Global Globali Mundial MundialInvesco Global Structured Equity Fund 191-193

America America América AméricaInvesco US Structured Equity Fund 194-196Invesco US 130/30 Equity Fund 197-199Invesco Latin American Equity Fund 200-201

Europe Europa Europa EuropaInvesco Pan European Structured Equity Fund 202-204Invesco Pan European Equity Fund 205-206Invesco Pan European Small Cap Equity Fund 207-211Invesco European Growth Equity Fund 212-213Invesco Pan European Equity Income Fund 214-216Invesco Pan European 130/30 Equity Fund 217-218Invesco Emerging Europe Equity Fund 219-220

Japan Giappone Japón JapãoInvesco Nippon Small/Mid Cap Equity Fund 221-222Invesco Nippon Select Equity Fund 223-224

Asia Asia Asia ÁsiaInvesco Asia Opportunities Equity Fund 225-227Invesco Greater China Equity Fund 228-229Invesco Asia Infrastructure Fund 230-232Invesco India Equity Fund 233-234Invesco Asia Consumer Demand Fund 235-237

Theme Funds Comparti Tematici Fondos Temáticos Fundos TemáticosInvesco Global Leisure Fund 238-239Invesco Energy Fund 240-241Invesco Asia Pacific Real Estate Securities Fund 242-243Invesco Global Income Real Estate Securities Fund 244-247Invesco Emerging Markets Quantitative Equity Fund 248-251Invesco Gold & Precious Metals Fund 252-253

Reserve Funds Comparti Valutari Fondos de Reserva Fundos de ReservaInvesco USD Reserve Fund 254Invesco Euro Reserve Fund 255

Bond Funds Comparti ObbligazionariFondos de Renta Fija Fundos de ObrigaçõesInvesco Global Bond Fund 256Invesco European Bond Fund 257-258Invesco Absolute Return Bond Fund 259Invesco Euro Corporate Bond Fund 260-263Invesco Euro Inflation-Linked Bond Fund 264Invesco UK Investment Grade Bond Fund 265-266Invesco Emerging Local Currencies Debt Fund 267-268Invesco Global Investment Grade Corporate Bond Fund 269-271Invesco Global Unconstrained Bond Fund 272

Structured Fund Comparto Strutt Urato Fundo Istructurado Fundo IstruturadoInvesco Capital Shield 90 (EUR) Fund 273

Mixed Fund Comparti Misti Fondos mezclatos Fundo mistosIInvesco Asia Balanced Fund 274-277Invesco Pan European High Income Fund 278-281Invesco Global Absolute Return Fund 282Invesco Balanced-Risk Allocation Fund 283

CONTENTS INDICE ÍNDICE ÍNDICE

Invesco Funds


190 Invesco Funds

PageSeitePageSide

Financial Statements Bilancio Cuentas anuales Demonstrações Financeiras

Statement of Prospetto Estado del patrimonio neto Demonstração daNet Assets dell’Attivo Netto Situação Líquida 284-291

Notes to the Financial Note integrative al bilancio Memoria relativa a las Memória relativa aStatements cuentas anuales Demonstrações Financeiras 292-378

Board of Directors Consiglio Consejo de Administración Conselho de Administração 379-385d’Amministrazione

Organisation Organizzazione Organización Organização 379-385

CONTENTS INDICE ÍNDICE ÍNDICE

Invesco Funds


191 Invesco Funds


Statement of Investments as at 31 August 2010/Prospetto degli Investimenti al 31 agosto 2010Inventario de la cartera a 31 de agosto de 2010/Demonstração de Investimentos em 31 de agosto de 2010

Investment Nominal/Shares Market Value Net AssetsInvestimento Valore Nominale/Numero di Azioni Valore di Mercato Attivo NettoInversiones Nominal/Acciones Valor de mercado Patrimonio NetoInvestimento Nominal/Acções Valor de Mercado Situação Líquida

USD %


VALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE E VALORI MOBILIARI NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI

VALORES NEGOCIABLES ADMITIDOS A COTIZACIÓN OFICIAL EN BOLSA DE VALORES NEGOCIABLES NEGOCIADOS EN OTROS MERCADOS ORGANIZADOS

VALORES NEGOCIÁVEIS ADMITIDOS À COTAÇÃO OFICIAL EN BOLSA DE VALORES TRANSFERÍVEIS NEGOCIADOS NOUTROS MERCADOS REGULADOS

EQUITIES AZIONI VALORES DE RENTA ACCOÕESVARIABLE

AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAAnsell Ltd 4,891 58,677 0.24

BHP Billiton Ltd 12,318 406,264 1.64

Coca-Cola Amatil Ltd 27,523 292,085 1.17

Cochlear Ltd 1,104 68,012 0.28

Iluka Resources Ltd 9,978 49,348 0.20

Metcash Ltd 28,167 109,964 0.45

Telstra Corp Ltd 153,867 377,404 1.53

1,361,754 5.51

BELGIUM BELGIO BÉLGICA BÉLGICABelgacom SA 3,955 140,588 0.57

Colruyt SA 372 92,064 0.37

Delhaize Group SA 1,646 110,079 0.45

Mobistar SA 3,165 177,037 0.71

519,768 2.10

BERMUDA BERMUDAS BERMUDES BERMUDAAllied World Assurance Co Holdings Ltd 3,500 173,075 0.71

Catlin Group Ltd 31,435 158,300 0.64

Endurance Specialty Holdings Ltd 1,300 48,126 0.19

379,501 1.54

CANADA CANADA CANADÁ CANADÁBank of Montreal 4,382 241,224 0.98

Baytex Energy Trust 2,700 89,701 0.36

BCE Inc 20,200 633,731 2.56

CGI Group Inc 12,200 170,878 0.69

Enbridge Inc 7,749 386,823 1.57

Fairfax Financial Holdings Ltd 591 230,863 0.93

George Weston Ltd 2,100 165,391 0.67

Intact Financial Corp 2,600 109,765 0.44

Loblaw Cos Ltd 1,500 62,194 0.25

Metro Inc 2,600 112,882 0.46

National Bank of Canada 3,200 184,945 0.75

Rogers Communications Inc 18,900 668,759 2.71

TELUS Corp 7,000 291,327 1.18

TELUS Corp (Non-voting) 2,600 103,287 0.42

3,451,770 13.97

DENMARK DANIMARCA DINAMARCA DINAMARCAColoplast A/S 798 84,715 0.34

Novo Nordisk A/S 7,483 634,238 2.57

718,953 2.91

FRANCE FRANCIA FRANCIA FRANÇASanofi-Aventis SA 2,126 122,061 0.49

GERMANY GERMANIA ALEMANIA ALEMANHAHannover Rueckversicherung AG 3,970 174,853 0.71

HONG KONG HONG KONG HONG KONG HONG KONGCLP Holdings Ltd 26,000 198,743 0.80


192 Invesco Funds




USD %

IRELAND IRLANDA IRLANDA IRLANDAKerry Group Plc 4,871 156,022 0.63

Ryanair Holdings Plc 19,231 93,980 0.38

Warner Chilcott Plc 4,600 131,606 0.53

381,608 1.54

ITALY ITALIA ITALIA ITÁLIAMediaset SpA 30,333 186,904 0.76Parmalat SpA 29,137 70,095 0.28Snam Rete Gas SpA 53,109 244,738 0.99Terna Rete Elettrica Nazionale SpA 143,943 577,068 2.34

1,078,805 4.37

JAPAN GIAPPONE JAPÓN JAPÃOAsahi Breweries Ltd 17,200 323,061 1.31

Astellas Pharma Inc 12,376 426,616 1.73

Benesse Holdings Inc 5,500 246,118 1.00

Central Japan Railway Co 12 96,373 0.39

Chubu Electric Power Co Inc 16,349 428,493 1.73

Daito Trust Construction Co Ltd 4,400 251,660 1.02

East Japan Railway Co 5,300 341,144 1.38

Hisamitsu Pharmaceutical Co Inc 3,900 160,304 0.65

Hokuriku Electric Power Co 2,800 66,631 0.27

Lawson Inc 3,800 172,523 0.70

Miraca Holdings Inc 5,700 189,831 0.77

Nippon Express Co Ltd 27,000 93,937 0.38

Nippon Telegraph & Telephone Corp 10,000 429,410 1.74

Nitto Denko Corp 4,200 134,250 0.54

Osaka Gas Co Ltd 58,000 217,259 0.88

Shikoku Electric Power Co Inc 2,600 80,133 0.32

Takeda Pharmaceutical Co Ltd 14,200 648,897 2.62

Tohoku Electric Power Co Inc 2,502 57,819 0.23

Tokyo Gas Co Ltd 126,000 583,997 2.37

Toyo Suisan Kaisha Ltd 7,435 155,953 0.63

Yamato Holdings Co Ltd 7,400 86,579 0.35

5,190,988 21.01

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSKoninklijke KPN NV 20,885 299,620 1.21

SWEDEN SVEZIA SUECIA SUÉCIASvenska Handelsbanken AB 10,154 262,211 1.06

Swedish Match AB 5,888 134,779 0.55

396,990 1.61

SWITZERLAND SVIZZERA SUIZA SUÍÇANovartis AG 11,151 585,164 2.37


Schindler Holding AG 753 73,815 0.30

Swisscom AG 1,157 446,229 1.81

1,706,016 6.90

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAstraZeneca Plc 12,809 633,717 2.56

AstraZeneca Plc (SE Line) 2,178 107,792 0.44

Berkeley Group Holdings Plc 3,654 45,635 0.18


Mondi Plc 7,221 51,141 0.21

Next Plc 13,530 410,831 1.66

Provident Financial Plc 21,842 278,434 1.13

Reckitt Benckiser Group Plc 12,811 640,785 2.59

Stagecoach Group Plc 96,594 254,618 1.03

2,865,654 11.60


193 Invesco Funds




USD %

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAbbott Laboratories 2,300 113,850 0.46

AmerisourceBergen Corp 11,092 306,417 1.24

Amgen Inc 7,000 361,480 1.46


Cimarex Energy Co 1,200 78,636 0.32

Del Monte Foods Co 31,400 409,926 1.66

DR Horton Inc 28,800 296,208 1.20

Exxon Mobil Corp 5,300 312,620 1.27

Gannett Co Inc 5,400 65,718 0.27

Hershey Co 3,300 151,124 0.61


ITT Educational Services Inc 600 32,781 0.13

Lincare Holdings Inc 26,300 619,101 2.52


Omnicare Inc 9,100 177,405 0.72

Oshkosh Corp 9,700 243,373 0.98

ResMed Inc 49,968 151,033 0.61

Sunoco Inc 4,900 166,527 0.67

Tellabs Inc 88,000 634,040 2.56

Walter Energy Inc 2,600 178,113 0.72

4,834,632 19.57

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESRENTA VARIABLE

23,681,716 95.84

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETVALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE O NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI/TOTAL VALORES NEGOCIABLES ACEPTADOSPARA SU COTIZACION EN BOLSAS OFICIALES O PARA SU TRANSACCION EN MERCADOS ORGANIZADOS/TOTAL DE VALORES NEGOCIÁVEIS ADMITIDOS ÀCOTAÇÃO NAS BOLSAS DE VALORES OFICIAIS OU TRANSACCIONADOS NOUTROS MERCADOS REGULADOS 23,681,716 95.84

Total Totale Total Total dosInvestments Investimenti Inversiones Investimentos 23,681,716 95.84

The accompanying notes form an integral part of these financial statements./Le note allegate costituiscono parte integrante del rendiconto

finanziario./Las notas adjuntas constituyen parte integral de los presentes estados financieros./As notas às demonstrações financeiras formam parte

integrante destas demonstrações financeiras.


194 Invesco Funds






BASIC MATERIALS MATERIALI DI BASE MATERIALES BÁSICOS MATERIAIS BÁSICOSFreeport-McMoRan Copper & Gold Inc 13,500 949,995 1.54


Lubrizol Corp 1,400 129,479 0.21



2,070,715 3.35

COMMUNICATIONS COMUNICAZIONI COMUNICACIONES COMUNICAÇÕESAOL Inc 4,000 88,620 0.14

AT&T Inc 77,900 2,074,866 3.35

CBS Corp 45,000 615,150 1.00

Gannett Co Inc 82,000 997,940 1.62


Motorola Inc 39,800 299,495 0.49



Tellabs Inc 40,400 291,082 0.47

Time Warner Inc 23,900 706,962 1.15


6,544,427 10.60

CONSUMER BENI DI BIENES DE BENS DE CYCLICALS CONSUMO CICLICI CONSUMO CÍCLICOS CONSUMO CÍCLICOSDR Horton Inc 84,600 870,111 1.41

Ford Motor Co 124,700 1,415,968 2.30


Home Depot Inc 12,700 355,346 0.58


Ltd Brands Inc 42,200 1,018,286 1.65

Macy's Inc 43,100 826,658 1.34

Oshkosh Corp 17,000 426,530 0.69

Sears Holdings Corp 1,800 111,069 0.18

Starbucks Corp 37,900 887,808 1.44


Wynn Resorts Ltd 7,700 629,629 1.02

7,462,737 12.09

CONSUMER NON- BENI DI CONSUMO BIENES DE CONSUMO BENS DE CONSUMOCYCLICAL NON- CICLICI NO CÍCLICOS NÃO CÍCLICOSAbbott Laboratories 4,200 207,900 0.34

Amgen Inc 24,500 1,265,180 2.05

Cardinal Health Inc 5,000 151,000 0.24


Cephalon Inc 4,000 227,160 0.37

Coca-Cola Co 19,300 1,071,729 1.74

Colgate-Palmolive Co 1,100 81,268 0.13

Eli Lilly & Co 32,700 1,110,492 1.80

Forest Laboratories Inc 4,700 129,697 0.21

Hershey Co 700 32,057 0.05

Humana Inc 7,000 335,895 0.54

Johnson & Johnson 34,100 1,953,247 3.17

Medtronic Inc 24,000 766,680 1.24

Pfizer Inc 76,000 1,204,600 1.95

Philip Morris International Inc 26,500 1,362,763 2.21

Procter & Gamble Co 35,800 2,124,908 3.45

Tyson Foods Inc 35,600 583,484 0.95

UnitedHealth Group Inc 38,600 1,231,147 1.99

13,928,682 22.57




USD %


195 Invesco Funds



ENERGY ENERGIA ENERGÍA ENERGIACanadian Natural Resources Ltd 3,800 123,709 0.20

Chevron Corp 24,800 1,830,116 2.96

ConocoPhillips 26,500 1,395,888 2.26

Exxon Mobil Corp 47,200 2,784,092 4.52

Occidental Petroleum Corp 17,100 1,261,638 2.04

7,395,443 11.98

FINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSAmerican Express Co 33,200 1,324,845 2.15

Berkshire Hathaway Inc 10,500 818,055 1.33

Capital One Financial Corp 26,900 1,012,919 1.64

Comerica Inc 5,200 174,018 0.28

Commerce Bancshares Inc 900 32,180 0.05

Equity Residential 700 31,651 0.05


Franklin Resources Inc 1,300 125,314 0.20

Goldman Sachs Group Inc 4,650 635,446 1.03

IntercontinentalExchange Inc 1,100 103,906 0.17

JPMorgan Chase & Co 1,400 50,218 0.08

M&T Bank Corp 3,700 314,537 0.51

PNC Financial Services Group Inc 8,200 412,952 0.67

Prudential Financial Inc 20,000 1,001,599 1.62

Simon Property Group Inc 400 35,924 0.06

Travelers Cos Inc 2,900 141,970 0.23

US Bancorp 10,900 225,794 0.37


Wells Fargo & Co 39,600 920,897 1.49

XL Group Plc 29,200 516,548 0.84

8,949,466 14.50

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIA3M Co 3,700 294,613 0.48

Emerson Electric Co 4,500 209,430 0.34

Flextronics International Ltd 90,000 452,250 0.73


Joy Global Inc 4,500 251,528 0.41


United Parcel Service Inc 7,200 460,188 0.75

United Technologies Corp 11,800 771,837 1.24

Waste Management Inc 1,400 46,823 0.08

2,760,115 4.47

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIApple Inc 2,200 533,566 0.86

CA Inc 22,700 408,714 0.66

Dell Inc 35,800 430,495 0.70

Hewlett-Packard Co 32,200 1,241,793 2.01

Intel Corp 31,800 570,969 0.92

International Business Machines Corp 16,500 2,036,182 3.30



Microsoft Corp 87,300 2,064,208 3.35

SanDisk Corp 23,400 802,152 1.30


9,764,720 15.82

UTILITIES UTILITA UTILIDADES UTILIDADESConstellation Energy Group Inc 7,800 227,058 0.37

Exelon Corp 19,900 806,547 1.30

1,033,605 1.67


59,909,910 97.05


USD %


196 Invesco Funds









USD %


197 Invesco Funds






CANADA CANADA CANADÁ CANADÁCanadian Natural Resources Ltd 800 26,044 0.68

Teck Resources Ltd 200 6,625 0.17

32,669 0.85

IRELAND IRLANDA IRLANDA IRLANDACooper Industries Plc 600 25,290 0.66


XL Group Plc 2,600 45,994 1.19

94,549 2.45

SINGAPORE SINGAPORE SINGAPUR SINGAPURAFlextronics International Ltd 5,000 25,125 0.65

SWITZERLAND SVIZZERA SUIZA SUÍÇANoble Corp 700 21,966 0.57

Transocean Ltd 200 10,476 0.27


Tyco International Ltd 1,000 37,710 0.98

97,553 2.53

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICA3M Co 100 7,963 0.21

Abbott Laboratories 300 14,850 0.39

Activision Blizzard Inc 400 4,242 0.11

Akamai Technologies Inc 200 9,237 0.24

American Express Co 1,200 47,886 1.24

Amgen Inc 1,500 77,459 2.01

AOL Inc 200 4,431 0.12

Apple Inc 100 24,253 0.63

Berkshire Hathaway Inc 600 46,746 1.21

Biogen Idec Inc 100 5,393 0.14

CA Inc 1,800 32,409 0.84

Capital One Financial Corp 1,700 64,013 1.67

Cardinal Health Inc 300 9,060 0.24

Career Education Corp 600 10,737 0.28

CBS Corp 2,200 30,074 0.78

Cephalon Inc 800 45,431 1.18

Cimarex Energy Co 500 32,765 0.85

Coca-Cola Co 200 11,106 0.29

Comerica Inc 300 10,040 0.26

Computer Sciences Corp 200 8,033 0.21

ConocoPhillips 1,400 73,745 1.91

Constellation Energy Group Inc 1,000 29,110 0.76

Convergys Corp 500 5,085 0.13

CROCS Inc 1,400 17,059 0.44

Cypress Semiconductor Corp 2,300 23,817 0.62

Dell Inc 5,000 60,124 1.56

Dover Corp 300 13,349 0.35

DR Horton Inc 5,500 56,567 1.47

Eastman Chemical Co 100 6,016 0.16

Eastman Kodak Co 4,200 15,099 0.39

Edison International 700 23,401 0.61

Eli Lilly & Co 400 13,584 0.35

Exelon Corp 1,800 72,954 1.89

Expedia Inc 1,500 34,118 0.89


Ford Motor Co 6,800 77,213 2.01

Forest Laboratories Inc 900 24,836 0.64

Freeport-McMoRan Copper & Gold Inc 1,100 77,406 2.01




USD %


198 Invesco Funds

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Gannett Co Inc 4,800 58,415 1.51

Gap Inc 700 11,823 0.31


Gilead Sciences Inc 200 6,483 0.17

Goldman Sachs Group Inc 200 27,331 0.71

Harman International Industries Inc 300 9,449 0.25

Hershey Co 700 32,057 0.83

Hologic Inc 1,900 26,800 0.70

Home Depot Inc 1,300 36,374 0.94

Humana Inc 1,100 52,783 1.37

Huntington Bancshares Inc 1,900 9,966 0.26

Illinois Tool Works Inc 600 24,711 0.64

Intel Corp 1,500 26,933 0.70


IntercontinentalExchange Inc 300 28,338 0.74



ITT Corporation 100 4,321 0.11

Johnson & Johnson 200 11,456 0.30


Joy Global Inc 500 27,947 0.73

JPMorgan Chase & Co 400 14,348 0.37

Key Corp 800 5,820 0.15

KLA-Tencor Corp 100 2,842 0.07

L-3 Communications Holdings Inc 400 26,811 0.70

Leggett & Platt Inc 100 1,910 0.05

Lennar Corp 900 11,813 0.31


Liberty Media Corp - Interactive 1,200 12,714 0.33

Ltd Brands Inc 2,700 65,150 1.69

Lubrizol Corp 300 27,746 0.72

M&T Bank Corp 500 42,505 1.10

Macy's Inc 2,200 42,196 1.10

Masco Corp 300 3,125 0.08

MeadWestvaco Corp 800 17,260 0.45

Medtronic Inc 1,800 57,500 1.49


Microsoft Corp 600 14,187 0.37

Motorola Inc 7,700 57,942 1.50

National Oilwell Varco Inc 1,700 64,005 1.66

National Semiconductor Corp 1,400 17,759 0.46

New York Community Bancorp Inc 800 12,492 0.32


Newmont Mining Corp 400 23,970 0.62

Occidental Petroleum Corp 1,100 81,158 2.11

Omnicom Group Inc 100 3,512 0.09

Oshkosh Corp 1,200 30,108 0.78

Parker Hannifin Corp 300 17,811 0.46

Peabody Energy Corp 400 16,764 0.44

PetSmart Inc 100 3,203 0.08

Pfizer Inc 900 14,265 0.37

Philip Morris International Inc 300 15,428 0.40

Pioneer Natural Resources Co 200 11,623 0.30

PNC Financial Services Group Inc 400 20,144 0.52

PPG Industries Inc 600 39,285 1.02

Principal Financial Group Inc 500 11,253 0.29

Prudential Financial Inc 1,200 60,095 1.57

Pulte Group Inc 700 5,639 0.15

Raytheon Co 400 17,690 0.46

Rockwell Automation Inc 200 10,214 0.27

Safeway Inc 700 13,339 0.35


SStatement of Investments as at 31 August 2010/Prospetto degli Investimenti al 31 agosto 2010Inventario de la cartera a 31 de agosto de 2010/Demonstração de Investimentos em 31 de agosto de 2010


USD %


199 Invesco Funds




USD %

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)SanDisk Corp 500 17,140 0.44

Sara Lee Corp 1,800 25,821 0.67

Sealed Air Corp 400 8,260 0.21

Sears Holdings Corp 400 24,682 0.64


Starbucks Corp 2,400 56,219 1.46

Starwood Hotels & Resorts Worldwide Inc 200 9,197 0.24

Symantec Corp 2,300 31,476 0.82

Telephone & Data Systems Inc 200 6,092 0.16

Tellabs Inc 6,500 46,833 1.22

Teradata Corp 300 9,555 0.25

Texas Instruments Inc 1,200 27,906 0.72


Tyson Foods Inc 2,600 42,614 1.11

United Parcel Service Inc 500 31,957 0.83

United Technologies Corp 700 45,786 1.18

UnitedHealth Group Inc 2,700 86,116 2.23

URS Corp 300 10,745 0.28

Ventas Inc 200 10,085 0.26


Virgin Media Inc 1,800 35,973 0.93

Vornado Realty Trust 100 8,052 0.21


Wynn Resorts Ltd 200 16,354 0.42

Xilinx Inc 100 2,434 0.06

3,398,940 88.25

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESLRENTA VARIABLE

3,648,836 94.73

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETVALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE O NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI/TOTAL VALORES NEGOCIABLES ACEPTADOS PARASU COTIZACION EN BOLSAS OFICIALES O PARA SU TRANSACCION EN MERCADOS ORGANIZADOS/TOTAL DE VALORES NEGOCIÁVEIS ADMITIDOS À COTAÇÃO NASBOLSAS DE VALORES OFICIAIS OU TRANSACCIONADOS NOUTROS MERCADOS REGULADOS 3,648,836 94.73




integrante destas demonstrações financeiras


200 Invesco Funds








ARGENTINA ARGENTINA ARGENTINA ARGENTINATelecom Argentina SA ADR 1,600 30,192 0.98

BAHAMAS BELGIEN BELGIQUE BELGIAPetrominerales Ltd 750 17,760 0.58

BERMUDA BERMUDAS BERMUDES BERMUDACredicorp Ltd 425 44,825 1.46

BRAZIL BRASILIEN BRESIL BRASILAliansce Shopping Centers SA 4,800 31,273 1.02

Banco ABC Brasil SA 3,700 28,911 0.94



Banco Panamericano SA 5,300 23,975 0.78

BM&FBovespa SA 8,200 58,621 1.91

BRF - Brasil Foods SA 3,600 46,071 1.50


Cia de Bebidas das Americas ADR 425 45,785 1.49

Cia de Transmissao de Energia Electrica Paulista 1,300 36,735 1.19

Cia Hering 1,700 66,065 2.15

Cia Siderurgica Nacional SA 3,800 58,208 1.89

EcoRodovias Infraestrutura e Logistica SA 7,000 43,220 1.41

EDP - Energias do Brasil SA 2,000 42,598 1.39

Even Construtora e Incorporadora SA 7,500 35,056 1.14

Fibria Celulose SA 2,700 40,691 1.32

Helbor Empreendimentos SA 3,000 27,917 0.91

Iguatemi Empresa de Shopping Centers SA 1,700 32,871 1.07


Julio Simoes Logistica SA 7,500 35,759 1.16



Odontoprev SA 4,200 44,394 1.44

OGX Petroleo e Gas Participacoes SA 10,200 119,841 3.90

Parana Banco SA 6,100 34,838 1.13

Petroleo Brasileiro SA ADR 4,200 121,589 3.95

Petroleo Brasileiro SA ADS 3,250 106,600 3.47

Souza Cruz SA 1,100 50,225 1.63


Totvs SA 650 47,030 1.53

TPI - Triunfo Participacoes e Investimentos SA 8,300 29,857 0.97

Trisul SA 8,000 29,437 0.96

Ultrapar Participacoes SA 975 52,947 1.72

Usinas Siderurgicas de Minas Gerais SA 1,600 39,984 1.30

Vale SA ADR 10,425 275,219 8.96


2,162,728 70.35

CANADA CANADA CANADÁ CANADÁAlamos Gold Inc 500 8,138 0.26

Guyana Goldfields Inc 839 7,412 0.24

Pacific Rubiales Energy Corp 775 18,312 0.60

Silver Wheaton Corp 600 13,725 0.45

Ventana Gold Corp 750 5,974 0.19

53,561 1.74


USD %


201 Invesco Funds



CHILE CILE CHILE CHILECia Cervecerias Unidas SA 4,250 48,544 1.58

Empresas La Polar SA 6,900 48,342 1.57

96,886 3.15

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOTernium SA ADR 500 16,253 0.53

MEXICO MESSICO MÉXICO MÉXICOAmerica Movil SAB de CV ADR 3,325 153,498 4.99

Bolsa Mexicana de Valores SAB de CV 16,200 25,101 0.82

Corp GEO SAB de CV 10,900 28,063 0.91

Fomento Economico Mexicano SAB de CV ADR 800 39,380 1.28

Genomma Lab Internacional SA de CV 23,900 44,857 1.46

Grupo Financiero Banorte SAB de CV 7,800 27,743 0.90

Grupo Mexico SAB de CV 15,400 39,368 1.28

Industrias CH SAB de CV 11,800 43,428 1.42

Kimberly-Clark de Mexico SAB de CV 6,400 36,870 1.20

Mexichem SAB de CV 16,200 41,942 1.36

Wal-Mart de Mexico SAB de CV 25,300 55,075 1.79

535,325 17.41

PANAMA PANAMA PANAMA PANAMACopa Holdings SA 875 42,166 1.37

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAntofagasta Plc 2,300 35,798 1.16

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAGran Tierra Energy Inc 3,300 20,588 0.67


3,056,082 99.40







USD %


202 Invesco Funds






BELGIUM BELGIO BÉLGICA BÉLGICABelgacom SA 193,061 5,411,500 1.97

Colruyt SA 7,882 1,538,172 0.56

Delhaize Group SA 39,623 2,089,519 0.76

Mobistar SA 26,301 1,160,071 0.42

10,199,262 3.71

BERMUDA BERMUDAS BERMUDES BERMUDALancashire Holdings Ltd 207,072 1,329,910 0.48

DENMARK DANIMARCA DINAMARCA DINAMARCAColoplast A/S 28,155 2,356,872 0.86

FLSmidth & Co A/S 9,671 443,134 0.16

Novo Nordisk A/S 97,964 6,547,342 2.38

9,347,348 3.40

FINLAND FINLANDIA FINLANDIA FINLÂNDIAFortum OYJ 346,307 6,273,351 2.28

Orion OYJ 106,182 1,517,872 0.55

Tieto OYJ 96,958 1,263,848 0.46

9,055,071 3.29

FRANCE FRANCIA FRANCIA FRANÇACie Generale d'Optique Essilor International SA 45,815 2,189,728 0.80

France Telecom SA 146,231 2,325,438 0.85

Metropole Television SA 43,416 697,261 0.25

Rhodia SA 307,139 4,519,550 1.64

Sanofi-Aventis SA 138,180 6,255,755 2.27

Schneider Electric SA 20,168 1,658,314 0.60

SEB SA 35,020 2,024,856 0.74

Societe BIC SA 23,873 1,368,400 0.50

Total SA 95,935 3,506,424 1.27

Valeo SA 238,657 6,568,438 2.38

31,114,164 11.30

GERMANY GERMANIA ALEMANIA ALEMANHAAurubis AG 93,129 2,897,942 1.05

Fresenius Medical Care AG & Co KGaA 35,922 1,605,713 0.58

Fuchs Petrolub AG 18,231 1,383,551 0.50

Hannover Rueckversicherung AG 119,446 4,148,360 1.51

Rheinmetall AG 71,103 3,056,895 1.12

RWE AG 97,550 5,008,217 1.82

18,100,678 6.58

IRELAND IRLANDA IRLANDA IRLANDAPaddy Power Plc 36,720 1,006,679 0.37

ITALY ITALIA ITALIA ITÁLIAEnel SpA 776,646 2,874,561 1.04

Mediaset SpA 1,075,467 5,225,425 1.90

Terna Rete Elettrica Nazionale SpA 2,178,494 6,886,764 2.50

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOTenaris SA 277,405 3,668,681 1.33




EUR %


203 Invesco Funds

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSASML Holding NV 262,075 5,146,498 1.87

CSM 43,615 875,898 0.32


Koninklijke KPN NV 486,669 5,505,443 2.00

Koninklijke Philips Electronics NV 76,815 1,675,527 0.61

TNT NV 297,870 5,882,932 2.14

25,572,610 9.29

NORWAY NORVEGIA NORUEGA NORUEGATGS Nopec Geophysical Co ASA 602,653 6,422,291 2.33

PORTUGAL PORTUGAL PORTUGAL PORTUGALEDP - Energias de Portugal SA 1,537,238 3,690,140 1.34

Jeronimo Martins SGPS SA 148,355 1,284,680 0.47

4,974,820 1.81

SPAIN SPAGNA ESPAÑA ESPANHAGestevision Telecinco SA 60,006 460,726 0.17

Tecnicas Reunidas SA 96,470 3,782,589 1.37

Viscofan SA 26,643 614,654 0.22

4,857,969 1.76

SWEDEN SVEZIA SUECIA SUÉCIAAlfa Laval AB 383,202 4,317,109 1.57

Svenska Handelsbanken AB 165,599 3,372,058 1.23

Tele2 AB 338,752 4,760,498 1.72

12,449,665 4.52

SWITZERLAND SVIZZERA SUIZA SUÍÇANovartis AG 178,755 7,396,803 2.68


Schindler Holding AG 44,031 3,403,536 1.24

Swisscom AG 23,698 7,207,067 2.62


31,219,333 11.34

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAggreko Plc 47,757 823,530 0.30

AstraZeneca Plc (SE Line) 180,596 7,047,863 2.56

Berkeley Group Holdings Plc 171,288 1,686,873 0.61

BT Group Plc 3,857,411 6,177,668 2.24

Centrica Plc 1,749,917 6,945,565 2.52

Compass Group Plc 1,026,434 6,635,943 2.42

Croda International Plc 71,242 1,117,103 0.41

De La Rue Plc 49,079 417,639 0.15

GlaxoSmithKline Plc 380,481 5,631,558 2.05

Halfords Group Plc 126,897 745,575 0.27

Intercontinental Hotels Group Plc 283,278 3,403,398 1.24

Mondi Plc 538,494 3,007,265 1.09

Next Plc 265,544 6,358,050 2.32

Persimmon Plc 493,626 2,182,109 0.79

Petrofac Ltd 379,800 6,373,705 2.32

Reckitt Benckiser Group Plc 171,524 6,765,138 2.46

Shire Plc 378,350 6,406,926 2.32

Stagecoach Group Plc 1,047,019 2,176,282 0.79

Whitbread Plc 228,756 3,861,195 1.40

77,763,385 28.26




EUR %



262,068,616 95.21









EUR %

204 Invesco Funds


205 Invesco Funds






FINLAND FINLANDIA FINLANDIA FINLÂNDIAStora Enso OYJ 1,424,576 8,675,668 1.70UPM-Kymmene OYJ 1,135,611 12,122,647 2.38

20,798,315 4.08

FRANCE FRANCIA FRANCIA FRANÇACie Générale des Etablissements Michelin 166,031 9,619,006 1.89Rhodia SA 725,972 10,682,678 2.10Safran SA 558,798 10,633,926 2.08Sociéte Générale 235,500 9,248,674 1.81

40,184,284 7.88

GERMANY GERMANIA ALEMANIA ALEMANHABilfinger Berger AG 218,087 10,105,606 1.98Daimler AG 281,055 10,546,589 2.06Deutsche Boerse AG 120,817 5,746,661 1.13Henkel AG & Co KGaA 188,224 6,925,702 1.36

33,324,558 6.53

GREECE GRECIA GRECIA GRÉCIAPublic Power Corp SA 385,261 4,390,049 0.86

IRELAND IRLANDA IRLANDA IRLANDAC&C Group Plc 1,200,000 3,672,600 0.72CRH Plc 450,013 5,403,531 1.06Kingspan Group Plc 627,536 3,381,164 0.66

12,457,295 2.44

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSASM International NV 294,054 5,068,021 0.99ASML Holding NV 484,377 9,511,953 1.87European Aeronautic Defence and Space Co NV 616,288 10,538,524 2.06ING Groep NV 1,949,676 13,270,470 2.60Koninklijke Ahold NV 960,136 9,256,191 1.81Reed Elsevier NV 705,000 6,631,935 1.30SBM Offshore NV 614,152 7,276,166 1.43TNT NV 280,965 5,549,059 1.09

67,102,319 13.15

NORWAY NORVEGIA NORUEGA NORUEGAOrkla ASA 680,000 4,353,880 0.85Storebrand ASA 2,196,650 8,527,970 1.67

12,881,850 2.52

PORTUGAL PORTUGAL PORTUGAL PORTUGALOGalp Energia SGPS SA 300,000 3,811,500 0.75

SPAIN SPAGNA ESPAÑA ESPANHABanco Bilbao Vizcaya Argentaria SA 1,548,489 14,391,657 2.82Banco Santander SA 1,081,564 9,738,402 1.91Iberia Lineas Aereas de Espana SA 2,933,700 7,463,333 1.46Obrascon Huarte Lain SA 759,592 14,777,862 2.90Telefonica SA 712,872 12,279,220 2.41

58,650,474 11.50

SWEDEN SVEZIA SUECIA SUÉCIAAssa Abloy AB 507,820 7,921,233 1.55Husqvarna AB 1,284,576 6,354,212 1.25Telefonaktiebolaget LM Ericsson 970,000 7,394,689 1.45

21,670,134 4.25




EUR %


206 Invesco Funds

SWITZERLAND SVIZZERA SUIZA SUÍÇANovartis AG 595,253 24,631,304 4.82


UBS AG 1,062,568 13,925,101 2.73


71,946,001 14.10

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAstraZeneca Plc 277,152 10,812,358 2.12Aviva Plc 635,864 2,918,055 0.57BAE Systems Plc 2,335,512 8,360,335 1.64Balfour Beatty Plc 1,308,577 3,769,383 0.74BG Group Plc 941,168 11,994,724 2.34BP Plc 577,921 2,638,961 0.52British American Tobacco Plc 500,974 13,516,169 2.65BT Group Plc 6,564,994 10,513,879 2.06Capita Group Plc 412,202 3,512,659 0.69Centrica Plc 2,124,409 8,431,954 1.65Cobham Plc 1,700,557 4,308,684 0.84G4S Plc 2,896,871 8,795,324 1.72GKN Plc 3,316,296 5,668,234 1.11GlaxoSmithKline Plc 909,798 13,466,061 2.64Imperial Tobacco Group Plc 439,214 9,677,149 1.90Legal & General Group Plc 2,675,459 2,976,706 0.59National Grid Plc 1,101,715 7,350,564 1.44Provident Financial Plc 220,638 2,217,855 0.43Rentokil Initial Plc 5,180,702 5,801,859 1.14Resolution Ltd 799,015 2,445,489 0.48Rolls-Royce Group Plc 513,615 3,414,302 0.67RSA Insurance Group Plc 1,988,618 2,954,879 0.58Smith & Nephew Plc 348,094 2,281,156 0.45UK Coal Plc 1,115,349 539,536 0.11Vectura Group Plc 949,751 572,121 0.11Vodafone Group Plc 6,072,138 11,389,048 2.24William Hill Plc 1,039,027 2,099,609 0.41Yell Group Plc 5,329,729 925,230 0.18

163,352,283 32.02


510,569,062 100.08


OTHER TRANSFERABLE SECURITIES/ALTRI VALORI MOBILIARI/OTROS VALORES NEGOCIABLES/OUTROS VALORES

BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASUNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOBarclays Bank Plc NTS 28/02/2019 (LAKE ACQ-CVR) 1,102,320 321,952 0.06

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES321,952 0.06

OTHER TRANSFERABLE SECURITIES/ALTRI VALORI MOBILIARI/OTROS VALORES NEGOCIABLES/OUTROS VALORES NEGOCIÁVEIS321,952 0.06




integrante destas demonstrações financeiras




EUR %


207 Invesco Funds






BELGIUM BELGIO BÉLGICA BÉLGICAD'ieteren SA 1,408 515,518 0.60

RealDolmen NV/SA 19,800 273,141 0.32

Telenet Group Holding NV 41,539 972,428 1.13

1,761,087 2.05

BERMUDA BERMUDAS BERMUDES BERMUDADockwise Ltd 124,929 2,165,558 2.52

HAL Trust 4,639 375,411 0.44

Hiscox Ltd 78,428 345,790 0.41

Omega Insurance Holdings Ltd 240,630 259,891 0.30

Seadrill Ltd 25,881 467,706 0.54

Seawell Ltd 82,400 218,756 0.26

3,833,112 4.47

CANADA CANADA CANADÁ CANADÁQuesterre Energy Corp 367,103 661,573 0.77

Western Coal Corp 51,643 143,605 0.17

805,178 0.94

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENECoastal Energy Co 23,144 70,413 0.08

Polarcus Ltd 1,508,000 758,300 0.88

Subsea 7 Inc 63,020 802,674 0.94

805,178 0.94


Songa Offshore SE 394,397 966,979 1.13

1,157,509 1.35

DENMARK DANIMARCA DINAMARCA DINAMARCAGN Store Nord 39,140 194,772 0.23

Trigon Agri A/S 2,300,000 1,446,340 1.68

Tryg AS 5,478 231,141 0.27

1,872,253 2.18

FINLAND FINLANDIA FINLANDIA FINLÂNDIAElisa OYJ 15,927 245,037 0.29Tieto OYJ 10,911 142,225 0.17UPM-Kymmene OYJ 43,326 462,505 0.53

849,767 0.99

FRANCE FRANCIA FRANCIA FRANÇA1855 4,667,390 466,739 0.54Audika SA 7,859 158,791 0.19Bourbon SA 7,528 227,044 0.26Club Mediterranee 252 3,398 –Eramet 1,886 377,153 0.44Eurofins Scientific 32,743 1,170,644 1.37Ingenico 43,757 837,728 0.98Meetic 21,808 450,553 0.53Neopost SA 19,272 1,057,455 1.24Nexity 17,926 430,717 0.50NextRadioTV 27,442 370,879 0.43Rhodia SA 24,036 353,690 0.41SafeTIC 38,189 207,557 0.24

6,112,348 7.13




EUR %


208 Invesco Funds



GERMANY GERMANIA ALEMANIA ALEMANHAAareal Bank AG 23,793 345,950 0.40

Asian Bamboo AG 37,092 1,296,086 1.51

Bilfinger Berger AG 9,177 425,239 0.50

Biotest AG 16,055 483,215 0.56

Brenntag AG 23,350 1,398,898 1.63

CTS Eventim AG 25,552 866,660 1.01

Drillisch AG 79,967 401,994 0.47

Gerresheimer AG 32,932 889,082 1.04

H&R WASAG AG 85 1,516 –

Joyou AG 51,008 536,732 0.63

Kabel Deutschland Holding AG 17,619 433,956 0.51

Kinghero AG 23,000 353,050 0.41

Kontron AG 194,972 1,086,287 1.27

KUKA AG 86,277 1,046,324 1.22

Nabaltec AG 162,812 891,396 1.04

Praktiker Bau- und Heimwerkermaerkte Holding AG 28,899 175,691 0.20

Rheinmetall AG 13,112 563,718 0.66

VTG AG 42,757 529,332 0.62

Wirecard AG 270,560 2,507,009 2.93

14,232,135 16.61

GREECE GRECIA GRECIA GRÉCIAFolli-Follie SA 56,016 937,988 1.09

IRELAND IRLANDA IRLANDA IRLANDADCC Plc 26,389 513,860 0.60

Governor & Co of the Bank of Ireland 121,351 88,404 0.10

Irish Continental Group Plc 101,472 1,506,859 1.76

2,109,123 2.46

ITALY ITALIA ITALIA ITÁLIAPiaggio & C SpA 230,054 470,748 0.55

Safilo Group SpA 35,579 293,349 0.34

Sorin SpA 534,512 816,200 0.96

Yoox SpA 122,654 791,118 0.92

2,371,415 2.77

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOAcergy SA 56,118 679,710 0.79

GlobeOp Financial Services 39,818 112,661 0.13

SES SA 40,000 711,501 0.84

Transcom WorldWide SA 155,725 363,490 0.42

1,867,362 2.18

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSBrunel International NV 16,359 326,975 0.38

Ordina NV 81,765 194,192 0.23

Smartrac NV 118,336 2,351,633 2.74

Unit 4 Agresso NV 16,261 281,356 0.33

3,154,156 3.68

NORWAY NORVEGIA NORUEGA NORUEGAAGR Group ASA 701,703 1,209,779 1.40

Badger Explorer ASA 300,904 571,407 0.67

Copeinca ASA 52,600 264,171 0.31

Marine Harvest ASA 281,233 165,416 0.19

Petroleum Geo-Services ASA 102,691 718,767 0.84

Pronova BioPharma AS 406,369 604,145 0.71

Rocksource ASA 1,067,151 202,648 0.24

Sevan Marine ASA 426,432 306,731 0.36

Telio Holding ASA 129,500 541,986 0.63

TGS Nopec Geophysical Co ASA 16,547 176,336 0.21

4,761,386 5.56


EUR %


209 Invesco Funds



PAPUA NEW GUINEA PAPUA NUOVA GUINEA PAPUA NUEVA GUINEA PAPUA NOVA GUINÉNew Britain Palm Oil Ltd 54,206 382,603 0.45

PORTUGAL PORTUGAL PORTUGAL PORTUGALBrisa Auto-Estradas de Portugal SA 88,012 431,303 0.50

SWEDEN SVEZIA SUECIA SUÉCIAByggmax Group AB 79,045 461,264 0.53

Medivir AB 7,224 83,059 0.10

ORC Software AB 15,122 194,821 0.23

739,144 0.86

SWITZERLAND SVIZZERA SUIZA SUÍÇAAcino Holding AG 10,906 775,442 0.91

Clariant AG 1,882 18,986 0.02

Dufry Group 7,535 557,788 0.65

EFG International AG 41,306 343,124 0.40

Gategroup Holding AG 14,989 430,132 0.50

Lonza Group AG 26,677 1,740,798 2.04

Temenos Group AG 15,608 312,197 0.36

4,178,467 4.88

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAbbey Protection Plc 226,194 223,654 0.26

Accsys Technologies Plc 1,270,745 368,516 0.43

Advanced Medical Solutions Group Plc 336,487 212,934 0.25

Afren Plc 103,735 123,400 0.14

Alternative Networks Plc 121,021 231,961 0.27

Amlin Plc 52,959 262,724 0.31

Aveva Group Plc 11,876 202,046 0.24

Axis-Shield Plc 24,611 81,053 0.09

Babcock International Group Plc 163,884 995,598 1.16

Beazley Plc 189,789 256,832 0.30

Brewin Dolphin Holdings Plc 95,496 138,730 0.16

Britvic Plc 15,069 87,180 0.10

BTG Plc 132,376 326,540 0.38

Caretech Holdings Plc 28,370 111,343 0.13

Carillion Plc 82,995 307,244 0.36

Chemring Group Plc 31,713 992,614 1.17

Clean Energy Brazil Plc 54,187 53 –

CPP Group Plc 68,444 201,569 0.24

Cranswick Plc 26,868 274,001 0.32

Croda International Plc 50,635 793,977 0.93

CVS Group Plc 161,268 155,777 0.18

Datacash Group Plc 46,647 202,871 0.24

Davis Service Group Plc 37,122 170,741 0.20

Dechra Pharmaceuticals Plc 115,440 572,826 0.67

Devro Plc 36,812 106,284 0.12

Dialog Semiconductor Plc 3,243 28,063 0.03

Dignity Plc 46,280 400,298 0.47

Domino Printing Sciences Plc 91,944 507,148 0.58

E2V Technologies Plc 142,626 110,433 0.13

Eaga Plc 209,309 254,464 0.30

Education Development International Plc 95,524 109,854 0.13

EMIS Group Plc 52,764 204,994 0.24

Fenner Plc 257,063 635,520 0.74

Fidessa Group Plc 18,441 301,281 0.35

Filtrona Plc 92,215 265,403 0.31

FLEX LNG Ltd 1,975,093 987,008 1.15

Group NBT Plc 39,803 157,424 0.18

Gulfsands Petroleum Plc 76,545 275,728 0.32

H&T Group Plc 89,521 311,576 0.36

Hansard Global Plc 24,793 50,689 0.06

Hargreaves Services Plc 17,009 126,472 0.15

Hill & Smith Holdings Plc 45,583 147,695 0.17

Homeserve Plc 197,645 1,093,181 1.28

Hunting Plc 21,400 155,540 0.18


EUR %


210 Invesco Funds



UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDO(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)James Halstead Plc 30,056 230,433 0.27JD Wetherspoon Plc 61,862 312,688 0.36Jupiter Fund Management Plc 79,590 192,988 0.23Immunodiagnostic Systems Holdings Plc 33,268 299,593 0.35Intec Telecom Systems Plc 153,984 111,966 0.13Laird Plc 80,688 123,478 0.14Latchways Plc 4,164 35,978 0.04Marston's Plc 169,202 189,180 0.22May Gurney Integrated Services Plc 155,362 345,049 0.40Mears Group Plc 184,246 582,967 0.68Melrose Plc 108,946 327,411 0.38Micro Focus International Plc 88,405 317,536 0.37Microgen Plc 186,610 193,031 0.23Mitie Group Plc 181,809 425,800 0.50Morson Group Plc 122,558 148,401 0.17Mouchel Group Plc 223,622 306,154 0.36N Brown Group Plc 119,397 329,904 0.39Northgate Plc 49,941 111,447 0.13Pace Plc 140,692 353,559 0.42PayPoint Plc 75,822 275,892 0.32Phoenix IT Group Ltd 126,614 311,440 0.36Playtech Ltd 38,801 195,545 0.23Premier Oil Plc 32,961 606,291 0.71PZ Cussons Plc 38,749 152,926 0.18RM Plc 243,191 388,806 0.45Rotork Plc 12,577 239,992 0.28RPS Group Plc 34,917 72,173 0.08RWS Holdings Plc 110,401 345,958 0.40Salamander Energy Plc 76,806 202,734 0.24SDL Plc 36,831 246,294 0.29Serco Group Plc 127,455 898,454 1.05Spectris Plc 25,678 275,459 0.32Spirax-Sarco Engineering Plc 16,710 321,195 0.37Staffline Group Plc 90,214 98,807 0.12Synergy Health Plc 170,541 1,395,186 1.64Tetragon Financial Group Ltd 924,904 3,041,271 3.54Ultra Electronics Holdings Plc 14,366 288,028 0.34United Business Media Ltd 13,920 94,059 0.11Valiant Petroleum Plc 38,125 312,479 0.36Victrex Plc 12,558 163,904 0.19Xchanging Plc 260,555 420,927 0.49YouGov Plc 172,045 82,701 0.10

28,891,323 33.72

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAKKR & Co LP 165,717 1,305,434 1.52


84,454,767 98.54


OTHER TRANSFERABLE SECURITIES/ALTRI VALORI MOBILIARI/OTROS VALORES NEGOCIABLES/OUTROS VALORES NEGOCIÁVEIS


CYPRUS ZYPERN CHYPRE CYPRUSRemedial (Cyprus) Plc 220,000 – –

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOHomebuy Group 155,656 – –

Invesco Cont Small 4,250,000 – –


- -


EUR %





EUR %

OPTIONS OPZIONI OPCIONES OPCIONESGERMANY GERMANIA ALEMANIA ALEMANHADax Mid-Cap Index Put Option Eur 7,450 17/09/2010 210 46,515 0.05

TOTAL OPTIONS TOTALE OPZIONI TOTAL OPCIONES OPCIONES TOTALES46,515 0.05






211 Invesco Funds


212 Invesco Funds





AUSTRIA AUSTRIA AUSTRIA ÁUSTRIAAndritz AG 8,956 426,395 0.58

BELGIUM BELGIO BÉLGICA BÉLGICAAnheuser-Busch InBev NV 31,616 1,273,809 1.75

BERMUDA BERMUDAS BERMUDES BERMUDALancashire Holdings Ltd 119,494 767,445 1.05

CYPRUS CIPRO CHIPRE CHIPREProSafe SE 246,948 945,142 1.30

DENMARK DANIMARCA DINAMARCA DINAMARCANovo Nordisk A/S 19,665 1,314,294 1.80

FRANCE FRANCIA FRANCIA FRANÇAAXA SA 30,488 368,752 0.51BNP Paribas 18,247 885,756 1.20Cie Générale des Etablissements Michelin 6,116 354,330 0.49Danone 17,027 716,241 0.98Total SA 18,129 662,615 0.91

2,987,694 4.09

GERMANY GERMANIA ALEMANIA ALEMANHABayer AG 24,257 1,161,001 1.59Bayerische Motoren Werke AG 24,331 991,975 1.36Deutsche Boerse AG 13,588 646,313 0.89Fresenius Medical Care AG & Co KGaA 16,145 721,682 0.99Puma AG Rudolf Dassler Sport 5,949 1,248,099 1.71SAP AG 16,141 556,179 0.76Wirecard AG 95,155 881,706 1.21

6,206,955 8.51

GREECE GRECIA GRECIA GRÉCIAIntralot SA-Integrated Lottery Systems & Services 253,557 787,295 1.08JUMBO SA 81,612 401,939 0.55

1,189,234 1.63

IRELAND IRLANDA IRLANDA IRLANDADCC Plc 46,453 904,556 1.24Paddy Power Plc 47,511 1,302,514 1.79

2,207,070 3.03

ITALY ITALIA ITALIA ITÁLIAAnsaldo STS SpA 30,964 284,172 0.39Finmeccanica SpA 63,202 497,242 0.68UniCredit SpA 358,460 654,369 0.90

1,435,783 1.97

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOOriflame Cosmetics SA 10,083 412,087 0.56

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSAalberts Industries NV 90,926 1,008,143 1.39Koninklijke Ahold NV 87,759 846,041 1.16Koninklijke KPN NV 61,518 695,922 0.95TNT NV 42,459 838,565 1.15Unilever NV 25,170 528,255 0.72

3,916,926 5.37

NORWAY NORVEGIA NORUEGA NORUEGAPetroleum Geo-Services ASA 53,789 376,486 0.52TGS Nopec Geophysical Co ASA 102,765 1,095,136 1.50

1,471,622 2.02




EUR %


213 Invesco Funds

RUSSIA RUSSIA RUSIA RÚSSIAGazprom OAO ADR 45,194 725,395 1.00VimpelCom Ltd ADR 50,635 593,723 0.81

1,319,118 1.81

SPAIN SPAGNA ESPAÑA ESPANHAProsegur Cia de Seguridad SA 11,998 479,860 0.66

SWEDEN SVEZIA SUECIA SUÉCIAIntrum Justitia AB 92,253 736,220 1.01Kinnevik Investment AB 45,987 655,080 0.90

1,391,300 1.91

SWITZERLAND SVIZZERA SUIZA SUÍÇAAryzta AG 51,242 1,720,578 2.36Dufry Group 16,741 1,239,273 1.70Julius Baer Group Ltd 21,347 583,898 0.80Nestle SA 39,603 1,605,013 2.20Novartis AG 21,268 880,060 1.21Roche Holding AG (Gebusscheine) 16,188 1,729,642 2.36Syngenta AG 3,984 721,294 0.99

8,479,758 11.62

TURKEY TURCHIA TURQUÍA TURQUIAHaci Omer Sabanci Holding AS 435,743 1,533,373 2.10Tupras Turkiye Petrol Rafine 71,800 1,254,060 1.72

2,787,433 3.82

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAmlin Plc 257,469 1,277,277 1.75Babcock International Group Plc 84,498 513,327 0.70Balfour Beatty Plc 244,291 703,685 0.96BG Group Plc 59,858 762,861 1.05British American Tobacco Plc 36,667 989,268 1.36Bunzl Plc 83,572 722,091 0.99Centrica Plc 277,479 1,101,337 1.51Chemring Group Plc 28,222 883,347 1.21Compass Group Plc 209,850 1,356,690 1.86Homeserve Plc 304,880 1,686,302 2.30IG Group Holdings Plc 227,991 1,435,129 1.97Imperial Tobacco Group Plc 66,300 1,460,779 2.00Informa Plc 295,118 1,358,820 1.86International Power Plc 297,667 1,340,310 1.84Kingfisher Plc 164,269 403,313 0.55Mitie Group Plc 423,708 992,333 1.36Next Plc 25,011 598,851 0.82Reckitt Benckiser Group Plc 34,752 1,370,666 1.88Reed Elsevier Plc 130,718 829,986 1.14Royal Dutch Shell Plc 27,618 555,821 0.76Shire Plc 101,940 1,726,238 2.37Tesco Plc 237,844 1,167,401 1.60Ultra Electronics Holdings Plc 62,302 1,249,108 1.71United Business Media Ltd 76,519 517,048 0.71Vodafone Group Plc 559,256 1,048,953 1.43William Hill Plc 204,963 414,178 0.57WPP Plc 99,220 773,075 1.06

27,238,194 37.32


66,250,119 90.80









EUR %


214 Invesco Funds






BASIC MATERIALS MATERIALI DI BASE MATERIALES BÁSICOS MATERIAIS BÁSICOSFiltrona Plc 7,430 21,384 0.52

Lonza Group AG 260 16,966 0.41

UPM-Kymmene OYJ 3,543 37,822 0.92

76,172 1.85

COMMUNICATIONS COMUNICAZIONI COMUNICACIONES COMUNICAÇÕESBT Group Plc 26,880 43,048 1.04

Deutsche Telekom AG 6,551 67,263 1.64

Eutelsat Communications 1,864 52,318 1.26

Koninklijke KPN NV 7,026 79,482 1.92

Reed Elsevier NV 3,845 36,170 0.88

Telecom Italia SpA 34,890 29,883 0.72

Telefonaktiebolaget LM Ericsson 5,073 38,673 0.94

Telefonica SA 4,799 82,663 2.00

Telekom Austria AG 4,050 40,854 0.99

Vivendi SA 2,789 51,046 1.24

Vodafone Group Plc 62,519 117,263 2.84

Yell Group Plc 102,172 17,737 0.43

656,400 15.90

CONSUMER BENI DE BIENES DE BENS DECYCLICALS CONSUMO CICLICI CONSUMO CÍCLICOS CONSUMO CÍCLICCarnival Plc 885 22,423 0.54


Daimler AG 1,071 40,189 0.97

Galiform Plc 13,335 10,293 0.25

Inditex SA 897 46,442 1.12

155,848 3.77

CONSUMER BENI DE CONSUMO BIENES DE CONSOMO BENS DE CONSUMONON-CYCLICAL NON CICLICI NO CÍCLICOS NÃO CÍCLICOSAstraZeneca Plc 2,337 91,172 2.21

Atlantia SpA 1,914 27,935 0.68

British American Tobacco Plc 2,838 76,569 1.85

BTG Plc 8,083 19,939 0.48

Bunzl Plc 2,092 18,076 0.44

Capita Group Plc 3,683 31,385 0.76

Carrefour SA 1,402 50,125 1.21

G4S Plc 19,656 59,678 1.45

GlaxoSmithKline Plc 6,594 97,600 2.36

Husqvarna AB 5,541 27,409 0.66

Imperial Tobacco Group Plc 3,286 72,400 1.75

Koninklijke Ahold NV 6,788 65,440 1.58

Nestle SA 2,425 98,279 2.38

Novartis AG 3,665 151,657 3.67

Premier Foods Plc 41,239 8,092 0.20

Reckitt Benckiser Group Plc 499 19,681 0.48

Rentokil Initial Plc 43,156 48,330 1.17

Reynolds American Inc 984 42,633 1.03


Sanofi-Aventis SA 873 39,523 0.96

Smith & Nephew Plc 2,163 14,175 0.34

Tesco Plc 5,423 26,618 0.64

Unilever NV 1,455 30,537 0.74

WM Morrison Supermarkets Plc 4,068 14,220 0.34

1,281,593 31.02




EUR %


215 Invesco Funds

DIVERSIFIED DIVERSIFICATI DIVERSIFICADO DIVERSIFICADODrax Group Plc 4,230 20,295 0.49

ENERGY ENERGIE ENERGIE ENERGIAltona Energy Plc 141,523 13,778 0.33BG Group Plc 4,363 55,605 1.35Galp Energia SGPS SA 3,958 50,286 1.22Repsol YPF SA 3,973 70,799 1.71Royal Dutch Shell Plc 2,572 53,729 1.30Sterling Energy Plc 12,181 17,825 0.43

262,022 6.34

FINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSAgeas 32,577 63,655 1.54Allianz SE 792 63,617 1.54Amlin Plc 3,378 16,758 0.41Banco Bilbao Vizcaya Argentaria SA 4,604 42,790 1.04Banque Cantonale Vaudoise 147 54,936 1.33Burford Capital Ltd 10,846 14,057 0.34Catlin Group Ltd 7,473 29,675 0.72Credit Suisse Group AG 1,044 35,712 0.86ING Groep NV 8,473 57,671 1.40Provident Financial Plc 4,485 45,083 1.09UBS AG 4,334 56,798 1.38Unibail-Rodamco SE 255 37,128 0.90Zurich Financial Services AG 384 66,548 1.61

584,428 14.16

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIABAE Systems Plc 18,626 66,674 1.62Bilfinger Berger AG 885 41,009 0.99Chemring Group Plc 1,258 39,375 0.95Cobham Plc 17,139 43,425 1.05CRH Plc 2,892 34,726 0.84European Aeronautic Defence and Space Co NV 2,410 41,211 1.00Irish Continental Group Plc 1,745 25,913 0.63Koninklijke Philips Electronics NV 1,981 43,211 1.05Obrascon Huarte Lain SA 1,549 30,136 0.73Oesterreichische Post AG 2,641 53,236 1.29Rolls-Royce Group Plc 4,150 27,588 0.67Safran SA 2,116 40,267 0.98Thales SA 1,613 40,571 0.98TNT NV 3,659 72,264 1.75

599,606 14.53

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIASML Holding NV 2,003 39,334 0.95Sage Group Plc 10,988 32,487 0.79

71,821 1.74

UTILITIES UTILITA UTILIDADES UTILIDADESCentrica Plc 12,916 51,265 1.24EDP - Energias de Portugal SA 9,990 23,981 0.58Enagas 1,486 20,392 0.49Gas Natural SDG SA 2,627 30,762 0.75GDF Suez 2,465 60,448 1.46National Grid Plc 5,657 37,743 0.91Pennon Group Plc 3,617 25,200 0.61Red Electrica Corp SA 1,472 47,887 1.17Terna Rete Elettrica Nazionale SpA 10,250 32,403 0.78United Utilities Group Plc 2,156 14,824 0.36

344,905 8.35


4,053,090 98.15





EUR %


216 Invesco Funds




EUR %


BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASFINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSBarclays Bank Plc NTS 28/02/2019 (LAKE ACQ-CVR) 17,697 5,169 0.13

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES 5,169 0.13


OPEN-ENDED FUNDS FONDI APERTI FONDOS DE INVERSION FUNDOS DE INVESTIMENTOABIERTOS

Invesco Perpetual Fixed Interest Investment Series - European High Yield Fund 94,812 41,191 1.00

TOTAL OPEN- TOTALE FONDI APERTI TOTAL DE FONDOS DE TOTAL DE FUNDOS DE ENDED FUNDS INVERSION ABIERTOS INVESTIMENTO ABERTO

41,191 1.00






217 Invesco Funds






BELGIUM BELGIO BÉLGICA BÉLGICADelhaize Group SA 156 8,227 0.17

D'ieteren SA 245 89,703 1.88

KBC Groep NV 402 12,904 0.27

110,834 2.32

DENMARK DANIMARCA DINAMARCA DINAMARCADanisco A/S 891 50,005 1.05

Danske Bank A/S 310 5,350 0.11

Novo Nordisk A/S 1,250 83,543 1.75

138,898 2.91

FINLAND FINLANDIA FINLANDIA FINLÂNDIAFortum OYJ 5,309 96,172 2.01

Metso OYJ 2,151 60,992 1.28

UPM-Kymmene OYJ 3,627 38,718 0.81

195,882 4.10

FRANCE FRANCIA FRANCIA FRANÇABNP Paribas 1,390 67,474 1.41

Bouygues SA 1,039 32,954 0.69

France Telecom SA 4,115 65,439 1.37

Legrand SA 3,802 89,652 1.87

Rhodia SA 2,272 33,432 0.70

Sanofi-Aventis SA 2,759 124,907 2.61

Total SA 3,565 130,301 2.73

Valeo SA 3,217 88,540 1.85

Vallourec SA 1,234 81,216 1.70

713,915 14.93

GERMANY GERMANIA ALEMANIA ALEMANHAAllianz SE 764 61,369 1.28

Aurubis AG 2,548 79,287 1.66

BASF SE 1,777 73,275 1.53

Deutsche Bank AG 1,082 52,956 1.11

Deutsche Lufthansa AG 5,953 73,832 1.55

Fuchs Petrolub AG 183 13,888 0.29

Hannover Rueckversicherung AG 1,439 49,976 1.05

Kloeckner & Co SE 5,490 83,667 1.74

Muenchener Rueckversicherungs AG 320 31,958 0.67

Rheinmetall AG 1,742 74,893 1.57

RWE AG 1,623 83,325 1.74

678,426 14.19

ITALY ITALIA ITALIA ITÁLIAEnel SpA 8,628 31,934 0.67

ENI SpA 7,102 110,614 2.31

Intesa Sanpaolo SpA 5,702 9,984 0.21

Mediaset SpA 17,687 85,937 1.80

Terna Rete Elettrica Nazionale SpA 29,294 92,605 1.94

UniCredit SpA 4,425 8,078 0.17

339,152 7.10

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOTenaris SA 2,332 30,841 0.65




EUR %


218 Invesco Funds



NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSKoninklijke Ahold NV 5,308 51,172 1.07

Koninklijke DSM NV 166 5,443 0.11

Koninklijke Philips Electronics NV 742 16,185 0.34

STMicroelectronics NV 13,472 70,640 1.48

TNT NV 4,408 87,058 1.82

230,498 4.82

NORWAY NORVEGIA NORUEGA NORUEGADnB NOR ASA 3,364 28,715 0.60

Statoil ASA 3,582 52,425 1.10

81,140 1.70

SPAIN SPAGNA ESPAÑA ESPANHABanco Bilbao Vizcaya Argentaria SA 5,459 50,736 1.06

Banco Santander SA 10,093 90,877 1.90

Tecnicas Reunidas SA 1,299 50,934 1.07

192,547 4.03

SWEDEN SVEZIA SUECIA SUÉCIAAlfa Laval AB 7,810 87,987 1.85

Castellum AB 836 6,734 0.14

Svenska Handelsbanken AB 1,484 30,218 0.63

Tele2 AB 3,991 56,086 1.17

181,025 3.79

SWITZERLAND SVIZZERA SUIZA SUÍÇABanque Cantonale Vaudoise 62 23,170 0.48

Clariant AG 9,060 91,400 1.91

Credit Suisse Group AG 1,532 52,406 1.10

GAM Holding AG 825 8,131 0.17

Nestle SA 5,402 218,930 4.59

Novartis AG 4,275 176,898 3.70

Roche Holding AG 743 83,675 1.75


Schindler Holding AG 1,183 91,444 1.91

UBS AG 1,377 18,046 0.38

Zurich Financial Services AG 420 72,788 1.52

968,951 20.27

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAggreko Plc 2,585 44,576 0.93AstraZeneca Plc 133 5,189 0.11Atkins WS Plc 2,207 18,492 0.39BHP Billiton Plc 2,066 44,715 0.94IG Group Holdings Plc 935 5,886 0.12Mondi Plc 14,262 79,647 1.66Petrofac Ltd 5,491 92,149 1.93Rio Tinto Plc 2,952 115,012 2.40Schroders Plc 670 11,080 0.24Stagecoach Group Plc 14,382 29,894 0.63Whitbread Plc 4,861 82,049 1.72

528,689 11.07

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESRENTA VARIABLE 4,390,798 91.88







EUR %


219 Invesco Funds






CYPRUS ZYPERN CHYPRE CYPRUSGlobaltrans Investment Plc GDR 55,700 759,470 2.35

CZECH REPUBLIC REPUBBLICA CECA REPÚBLICA CHECA REPÚBLICA CHECACEZ AS 13,750 577,511 1.79

Philip Morris CR AS 540 243,709 0.75

821,220 2.54

GEORGIA GEORGIEN GEORGIA GEÓRGIABank of Georgia JSC GDR 51,123 629,069 1.95

HUNGARY UNGARN HONGRIE UNGARNMOL Hungarian Oil and Gas Plc 3,800 341,740 1.06

OTP Bank Plc 30,600 614,724 1.90

956,464 2.96

KAZAKHSTAN KAZAKHSTAN KAZAKHSTAN KAZAKHSTANKazMunaiGas Exploration Production GDR 22,300 395,268 1.22

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSX5 Retail Group NV GDR 22,600 791,339 2.45

POLAND POLEN POLOGNE POLENBank Pekao SA 10,000 483,675 1.49

Eurocash SA 76,500 539,464 1.67

KGHM Polska Miedz SA 27,000 894,112 2.77

Powszechna Kasa Oszczednosci Bank Polski SA 38,000 450,743 1.40

2,367,994 7.33

RUSSIA RUSSIA RUSIA RÚSSIACherkizovo Group OJSC GDR 46,900 740,551 2.29

Federal Hydrogenerating Co ADR 141,800 733,815 2.27

Gazprom OAO ADR 131,800 2,682,788 8.31

LSR Group GDR 98,800 782,990 2.42

Lukoil OAO ADR 49,500 2,630,925 8.15

Magnit OJSC GDR 24,200 490,171 1.52

Magnitogorsk Iron & Steel Works GDR 56,800 618,552 1.92

MMC Norilsk Nickel ADR 149,600 2,534,223 7.85

Mobile Telesystems OJSC ADR 72,490 1,496,919 4.63

NovaTek OAO GDR 20,880 1,521,108 4.71

Pharmstandard GDR 33,300 779,720 2.41

Polymetal OOO GDR 50,950 606,305 1.88

Rosneft Oil Co GDR 297,200 1,864,930 5.77

Sberbank of Russian Federation GDR 7,310 1,997,755 6.19

Surgutneftegas OJSC ADR 132,500 1,203,763 3.73

Tatneft ADR 47,000 1,360,885 4.21

VimpelCom Ltd ADR 42,800 636,436 1.97

22,681,836 70.23

TURKEY TURCHIA TURQUÍA TURQUIATAV Havalimanlari Holding AS 75,300 328,655 1.01

Turk Hava Yollari 117,371 364,541 1.13

Turk Traktor ve Ziraat Makineleri AS 25,000 280,347 0.87

Turkiye Sinai Kalkinma Bankasi AS 322,099 451,761 1.40

1,425,304 4.41

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOKazakhmys Plc 19,580 337,080 1.04




USD %


220 Invesco Funds

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICACentral European Distribution Corp 20,080 457,924 1.42










USD %


221 Invesco Funds






BASIC MATERIALS MATERIALI DI BASE MATERIALES BÁSICOS MATERIAIS BÁSICOSToda Kogyo Corp 116,000 74,588,000 1.89

COMMUNICATIONS COMUNICAZIONI COMUNICACIONES COMUNICAÇÕESCyberAgent Inc 1,614 217,163,700 5.50

Gree Inc 24,400 151,036,000 3.83

Mixi Inc 49 22,135,750 0.56

Rakuten Inc 4,094 259,764,300 6.58

650,099,750 16.47

CONSUMER BENI DI BIENES DE BENS DECYCLICALS CONSUMO CICLICI CONSUMO CÍCLICOS CONSUMO CÍCLICOSAmiyaki Tei Co Ltd 350 82,425,000 2.09

Cosmos Pharmaceutical Corp 35,900 85,549,700 2.17


Nifco Inc 73,500 137,151,000 3.47

Nishimatsuya Chain Co Ltd 60,900 44,487,450 1.13

Pal Co Ltd 20,550 69,150,750 1.75

TS Tech Co Ltd 65,600 79,605,600 2.02

Unipres Corp 106,200 138,219,300 3.49

CONSUMER NON- BENI DI CONSUMO BIENES DE CONSUMO BENS DE CONSUMOCYCLICAL NON- CICLICI NO CÍCLICOS NÃO CÍCLICOSDaiseki Co Ltd 25,600 39,078,400 0.99

Dr Ci:Labo Co Ltd 307 81,846,200 2.07

Fuji Pharma Co Ltd 18,700 31,359,900 0.79

JCR Pharmaceuticals Co Ltd 22,000 20,823,000 0.53

Medinet Co Ltd 1,330 39,620,700 1.00

Nihon M&A Center Inc 254 61,734,700 1.56

OncoTherapy Science Inc 435 68,860,500 1.74

Pigeon Corp 3,800 11,751,500 0.30

Sysmex Corp 27,400 145,494,000 3.70

Tsumura & Co 36,000 94,104,000 2.38

594,672,900 15.06

FINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSGCA Savvian Group Corp 447 34,262,550 0.87

Intellex Co Ltd 200 11,880,000 0.30

Tosei Corp 1,610 44,001,300 1.11

90,143,850 2.28

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIAAnritsu Corp 156,000 78,546,000 1.99

CKD Corp 127,300 63,586,350 1.61

Dai-ichi Seiko Co Ltd 31,700 105,561,000 2.68

Fujitsu General Ltd 218,000 91,342,000 2.31

GS Yuasa Corp 117,000 57,856,500 1.47

Harmonic Drive Systems Inc 182 61,061,000 1.55

Juki Corp 566,000 73,580,000 1.86

Meiko Electronics Co 59,500 81,544,750 2.07

Micronics Japan Co Ltd 22,400 19,745,600 0.50

Nippon Ceramic Co Ltd 20,300 25,831,750 0.65

NPC Inc 59,100 99,140,250 2.51

Okano Valve Manufacturing Co 64,000 45,632,000 1.16

Osaki Electric Co Ltd 125,000 79,062,500 2.00

Sekisui Plastics Co Ltd 192,000 71,520,000 1.81

Takasago Thermal Engineering Co Ltd 90,500 57,512,750 1.46

Tamron Co Ltd 15,600 23,618,400 0.60




JPY %


222 Invesco Funds

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Teikoku Electric Manufacturing Co Ltd 40,100 63,718,900 1.61

Torishima Pump Manufacturing Co Ltd 76,600 94,945,700 2.41

Toshiba Plant Systems & Services Corp 4,000 3,846,000 0.10

Toyo Tanso Co Ltd 4,900 19,906,250 0.50

1,217,557,700 30.85

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIMegachips Corp 79,200 119,037,600 3.01

Melco Holdings Inc 43,900 111,176,750 2.82

OBIC Business Consultants Ltd 26,600 114,247,000 2.89

Simplex Technology Inc 1,851 102,175,200 2.59

V Technology Co Ltd 128 46,432,000 1.18

493,068,550 12.49

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESRENTA VARIABLE 3,798,443,550 96.22

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETVALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE O NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI/TOTAL VALORES NEGOCIABLES ACEPTADOSPARA SU COTIZACION EN BOLSAS OFICIALES O PARA SU TRANSACCION EN MERCADOS ORGANIZADOS/TOTAL DE VALORES NEGOCIÁVEIS ADMITIDOS ÀCOTAÇÃO NAS BOLSAS DE VALORES OFICIAIS OU TRANSACCIONADOS NOUTROS MERCADOS REGULADOS 3,798,443,550 96.22

Total Totale Total Total dosInvestments Investimenti Inversiones Investimentos 3,798,443,550 96.22







JPY %


223 Invesco Funds






BASIC MATERIALS MATERIALI DI BASE MATERIALES BÁSICOS MATERIAIS BÁSICOSDenki Kagaku Kogyo KK 465,000 157,402,500 1.91

Mitsubishi Materials Corp 378,000 83,727,000 1.02

OJI Paper Co Ltd 304,000 120,688,000 1.47

Taiyo Nippon Sanso Corp 151,000 100,264,000 1.22

462,081,500 5.62

COMMUNICATIONS COMUNICAZIONI COMUNICACIONES COMUNICAÇÕESNippon Television Network Corp 14,960 166,579,600 2.03

SBI Holdings Inc 20,200 210,181,000 2.55

376,760,600 4.58

CONSUMER BENI DI BIENES DE BENS DE CYCLICALS CONSUMO CICLICI CONSUMO CÍCLICOS CONSUMO CÍCLICOSDenso Corp 57,300 130,357,500 1.59

FamilyMart Co Ltd 64,700 196,364,500 2.39

Fast Retailing Co Ltd 7,000 81,165,000 0.99

Haseko Corp 2,147,000 151,363,500 1.84

Honda Motor Co Ltd 67,300 186,757,500 2.27

Isetan Mitsukoshi Holdings Ltd 202,200 178,845,900 2.18

ITOCHU Corp 184,500 126,382,500 1.54


Kuraray Co Ltd 87,800 83,410,000 1.01

Mitsubishi Corp 137,100 246,642,900 3.00

NHK Spring Co Ltd 162,000 112,914,000 1.37

Nissan Motor Co Ltd 386,400 247,875,600 3.02

Pioneer Corp 620,000 154,070,000 1.87

Sekisui Chemical Co Ltd 126,000 61,992,000 0.75

Takata Corp 62,700 112,828,650 1.37

2,163,689,550 26.32

CONSUMER NON- BENI DI CONSUMO BIENES DE CONSUMO BENS DE CONSUMOCYCLICAL NON- CICLICI NO CÍCLICOS NÃO CÍCLICOSKirin Holdings Co Ltd 115,000 133,515,000 1.62

Unicharm Corp 33,000 338,250,000 4.12

471,765,000 5.74

FINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSAeon Credit Service Co Ltd 99,000 87,763,500 1.07

Mitsubishi UFJ Financial Group Inc 560,900 224,640,450 2.73

ORIX Corp 12,500 79,000,000 0.96

Sumitomo Mitsui Financial Group Inc 125,900 314,561,150 3.83

Sumitomo Realty & Development Co Ltd 157,000 251,592,500 3.06

Tokio Marine Holdings Inc 130,000 292,435,000 3.56

1,249,992,600 15.21

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIAAsahi Glass Co Ltd 48,000 39,360,000 0.48

Fanuc Ltd 27,700 250,131,000 3.04

FUJIFILM Holdings Corp 116,600 296,980,200 3.62

Hitachi Ltd 792,000 269,676,000 3.28

JGC Corp 93,000 119,737,500 1.46

JS Group Corp 127,100 203,868,400 2.48

Komatsu Ltd 53,000 90,285,500 1.10

Kubota Corp 121,000 81,493,500 0.99

Mitsui OSK Lines Ltd 361,000 190,247,000 2.31

Nabtesco Corp 120,000 151,320,000 1.84

Nidec Corp 34,100 250,976,000 3.05

Rinnai Corp 23,000 115,230,000 1.40

SMC Corp 8,400 86,982,000 1.06




JPY %


224 Invesco Funds

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Toshiba Corp 681,000 268,314,000 3.26

2,414,601,100 29.37

TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGICCapcom Co Ltd 16,000 19,576,000 0.24

Elpida Memory Inc 146,600 147,626,200 1.80

Fujitsu Ltd 277,000 160,937,000 1.96

Itochu Techno-Solutions Corp 37,900 103,789,150 1.26

NTT Data Corp 950 249,422,500 3.03

Obic Co Ltd 10,000 157,850,000 1.92

Otsuka Corp 25,900 142,968,000 1.74

Tokyo Electron Ltd 25,100 98,831,250 1.20

1,081,000,100 13.15










JPY %


225 Invesco Funds






BERMUDA BERMUDAS BERMUDES BERMUDACOSCO Pacific Ltd 660,000 867,770 0.69GOME Electrical Appliances Holdings Ltd 2,563,000 779,049 0.63

1,646,819 1.32

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEBelle International Holdings Ltd 575,000 1,005,799 0.80


Haitian International Holdings Ltd 1,101,000 875,917 0.70

Ju Teng International Holdings Ltd 1,230,000 765,055 0.61

Kingboard Chemical Holdings Ltd 189,500 893,232 0.72

Lifestyle International Holdings Ltd 383,500 828,056 0.67


Vinda International Holdings Ltd 860,000 883,142 0.71

7,771,402 6.24



China Life Insurance Co Ltd 651,000 2,482,886 1.99

China Minsheng Banking Corp Ltd 1,237,000 1,120,046 0.90


Dongfang Electric Corp Ltd 273,800 1,004,673 0.81

Guangzhou Automobile Group Co Ltd 823,857 967,265 0.78

Lianhua Supermarket Holdings Co Ltd 212,000 820,139 0.66

Weichai Power Co Ltd 81,000 673,557 0.54

14,404,912 11.57

HONG KONG HONG KONG HONG KONG HONG KONGBank of East Asia Ltd 421,600 1,587,645 1.28


China Mobile Ltd 281,000 2,854,013 2.29

Citic Pacific Ltd 446,000 911,990 0.73

CNOOC Ltd 848,000 1,457,177 1.17

Hong Kong & China Gas Co Ltd 735,000 1,776,893 1.43

Hutchison Whampoa Ltd 169,000 1,248,391 1.00

Industrial & Commercial Bank of China Asia Ltd 178,000 658,295 0.53

Lenovo Group Ltd 1,432,000 819,008 0.66

MTR Corp 293,500 1,045,839 0.84

Sino Land Co Ltd 660,000 1,148,544 0.92



Wharf Holdings Ltd 323,000 1,742,522 1.40

19,969,154 16.04

INDIA INDIA INDIA ÍNDIABajaj Auto Ltd 31,820 1,829,269 1.47

ICICI Bank Ltd 117,461 2,407,819 1.94

Infosys Technologies Ltd 40,369 2,303,705 1.85


Oil & Natural Gas Corp Ltd 34,230 972,359 0.78

8,737,414 7.02

INDONESIA INDONESIEN INDONÉSIE INDONESIAAstra International Tbk PT 420,500 2,214,199 1.78



Bank Tabungan Negara Tbk PT 3,442,500 687,738 0.55


5,960,282 4.79




USD %




MALAYSIA MALESIA MALASIA MALÁSIAAxiata Group Bhd 1,098,800 1,563,389 1.26CIMB Group Holdings Bhd 904,100 2,248,621 1.81Gamuda Bhd 1,330,700 1,465,059 1.18Genting Bhd 943,200 2,826,764 2.26Lafarge Malayan Cement Bhd 335,000 776,079 0.62

8,879,912 7.13

MAURITIUS MAURITIUS MAURICIO MAURÍCIAGolden Agri-Resources Ltd 2,593,000 1,065,879 0.86

SINGAPORE SINGAPORE SINGAPUR SINGAPURAKeppel Corp Ltd 218,000 1,421,722 1.15

Overseas Union Enterprise Ltd 479,000 951,820 0.76

United Overseas Bank Ltd 85,102 1,174,643 0.94

3,548,185 2.85

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SOLAmorepacific Corp 1,173 1,076,726 0.86

Cheil Industries Inc 25,330 2,213,127 1.78


Hyundai Home Shopping Network Corp 7,669 575,703 0.46


Hyundai Mobis 11,382 2,057,759 1.65

KCC Corp 4,289 1,066,973 0.86

LG Chem Ltd 6,499 1,871,532 1.49

Mando Corp 7,952 893,763 0.72

OCI Co Ltd 5,167 1,600,007 1.29

POSCO 2,322 941,757 0.76

Samsung Electronics Co Ltd 4,502 2,836,985 2.28


Samsung SDI Co Ltd 9,366 1,314,396 1.06

Shinhan Financial Group Co Ltd 26,184 1,001,911 0.80

21,318,979 17.11

TAIWAN TAIWAN TAIWAN TAIWANCheng Shin Rubber Industry Co Ltd 386,250 784,341 0.63

Chroma ATE Inc 652,000 1,499,027 1.20

Fubon Financial Holding Co Ltd 391,629 456,314 0.37

Hon Hai Precision Industry Co Ltd 669,556 2,361,860 1.90


Motech Industries Inc 237,000 921,100 0.74

Nan Ya Plastics Corp 728,000 1,402,186 1.13

Pegatron Corp 1,495,000 1,872,601 1.50

Powertech Technology Inc 558,000 1,653,063 1.33



TXC Corp 915,927 1,541,128 1.24

Unimicron Technology Corp 788,000 1,248,393 1.00

Wistron Corp 367,621 573,225 0.46

Yuanta Financial Holding Co Ltd 1,646,000 933,885 0.75

20,738,124 16.66

THAILAND THAILANDIA TAILANDIA TAILÂNDIAMinor International PCL 1,731,100 666,872 0.54

Pruksa Real Estate PCL 930,200 715,194 0.57

Tisco Financial Group PCL 640,016 693,112 0.56

2,075,178 1.67

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAPunjab National Bank Ltd 1 25 –



USD %

226 Invesco Funds





USD %

TOTAL TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETVALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE O NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI/TOTAL VALORES NEGOCIABLES ACEPTADOSPARA SU COTIZACION EN BOLSAS OFICIALES O PARA SU TRANSACCION EN MERCADOS ORGANIZADOS/TOTAL DE VALORES NEGOCIÁVEIS ADMITIDOS ÀCOTAÇÃO NAS BOLSAS DE VALORES OFICIAIS OU TRANSACCIONADOS NOUTROS MERCADOS REGULADOS 116,116,265 93.26OTHER TRANSFERABLE SECURITIES/ALTRI VALORI MOBILIARI/OTROS VALORES NEGOCIABLES/OUTROS VALORES NEGOCIÁVEISSTRUCTURED PRODUCTS PRODOTTI STRUTTURATI PRODUCTOS PRODUTOS

ESTRUCTURADOS ESTRUTURADOSUNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICACiti - Invesco China Opportunity II Fund P/N 20/01/2015 484,054 6,302,383 5.06

TOTAL STRUCTURED TOTALE PRODOTTI TOTAL DE PRODUTOS TOTAL PRODUCTOS ESTRUCTURADOSPRODUCTS STRUTTURATI ESTRUTURADOS

6,302,383 5.06TOTAL OTHER TRANSFERABLE SECURITIES/TOTALE ALTRI VALORI MOBILIARI/TOTAL OTROS VALORES NEGOCIABLES/TOTAL DEOUTROS VALORES NEGOCIÁVEIS 6,302,383 5.06


The accompanying notes form an integral part of these financial statements./Le note allegate costituiscono parte integrante del rendicontofinanziario./Las notas adjuntas constituyen parte integral de los presentes estados financieros./As notas às demonstrações financeiras formam parteintegrante destas demonstrações financeiras.

227 Invesco Funds


228 Invesco Funds







Yue Yuen Industrial Holdings Ltd 2,578,000 8,424,206 1.70

23,211,002 4.69

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEAsia Cement China Holdings Corp 18,889,500 8,035,882 1.62

China High Speed Transmission Equipment Group Co Ltd 5,109,000 11,359,707 2.29


Haitian International Holdings Ltd 11,178,000 8,892,827 1.80

Ju Teng International Holdings Ltd 4,612,000 2,418,436 0.49

Lifestyle International Holdings Ltd 600,000 1,295,525 0.26

Minth Group Ltd 6,606,000 10,672,322 2.15

Stella International Holdings Ltd 2,390,000 4,447,865 0.90


Vinda International Holdings Ltd 17,895,000 18,376,532 3.71

WuXi PharmaTech Cayman Inc ADR 600,050 8,910,743 1.80

Xinyi Glass Holdings Co Ltd 19,676,000 10,102,729 2.04

Yingde Gases 2,635,000 2,468,842 0.50

109,955,844 22.20

CHINA CHINA CHINE KINAChina Construction Bank Corp 18,072,000 14,923,286 3.02


China National Materials Co Ltd 12,297,000 9,419,558 1.90

China Oilfield Services Ltd 4,002,000 5,099,821 1.03


Chongqing Changan Automobile Co Ltd 6,851,579 5,596,176 1.13

Chongqing Machinery & Electric Co Ltd 16,100,000 4,076,404 0.82

Datang International Power Generation Co Ltd 6,104,000 2,412,374 0.49


Huadian Energy Co Ltd 2 1 –




Shanghai Jinjiang International Hotels Development Co Ltd 5,036,382 8,549,259 1.72

Weifu High-Technology Co Ltd 1 1 –

Wuxi Little Swan Co Ltd 3,011,403 3,911,022 0.79

ZTE Corp 1,505,000 5,556,248 1.12

111,017,201 22.41

HONG KONG HONG KONG HONG KONG HONG KONGBOC Hong Kong Holdings Ltd 1,458,000 3,827,407 0.77


China Mobile Ltd 2,036,500 20,683,976 4.18

China Resources Enterprise Ltd 1,302,000 5,400,853 1.09

Dah Chong Hong Holdings Ltd 16,300,000 13,041,034 2.64

Franshion Properties China Ltd 17,808,000 5,092,491 1.03

Hang Seng Bank Ltd 155,000 2,132,571 0.43

Lenovo Group Ltd 10,588,000 6,055,626 1.22




Tianjin Development Holdings 4,000,000 2,678,446 0.54

78,687,908 15.89




USD %


229 Invesco Funds



TAIWAN TAIWAN TAIWAN TAIWANCatcher Technology Co Ltd 3,152,000 6,971,321 1.41

Chinatrust Financial Holding Co Ltd 16,428,160 9,192,574 1.86

Compal Electronics Inc 11,270,056 12,612,589 2.55

E.Sun Financial Holding Co Ltd 8,110,206 3,620,403 0.73

Everlight Electronics Co Ltd 2,520,000 6,482,116 1.31



Hotai Motor Co Ltd 3,481,000 9,546,294 1.93


MediaTek Inc 940,273 12,804,966 2.58

President Chain Store Corp 4,276,264 15,785,367 3.18

Simplo Technology Co Ltd 1,408,000 6,889,683 1.39

SinoPac Financial Holdings Co Ltd 13,623,000 4,794,886 0.97

Taishin Financial Holding Co Ltd 26,712,150 10,902,839 2.20

Taiwan Glass Industrial Corp 3,347,500 3,242,063 0.65



WPG Holdings Co Ltd 3,986,954 7,399,155 1.49

Yuanta Financial Holding Co Ltd 9,250,000 5,248,137 1.06

167,110,441 33.74


WARRANTS WARRANT WARRANTS TÍTULOS DE SUBSCRIÇÃOUNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAPing An Insurance Group WTS 17/01/2012 459,500 3,141,921 0.63

TOTAL WARRANTS TOTALE WARRANT TOTAL WARRANTS TOTAL DE TÍTULOS DE SUBSCRIÇÃO3,141,921 0.63





USD %


230 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAAdelaide Brighton Ltd 4,000,000 11,663,002 0.45

ASX Ltd 493,000 12,787,951 0.49

BHP Billiton Ltd 2,595,200 85,593,239 3.27

Leighton Holdings Ltd 2,306,785 63,132,068 2.41

Macquarie Group Ltd 990,073 33,015,362 1.26

Map Group 8,552,727 22,500,964 0.86


Rio Tinto Ltd 1,298,875 81,040,197 3.09

Telstra Corp Ltd 5,100,000 12,509,237 0.48

Woodside Petroleum Ltd 816,910 30,462,937 1.16

WorleyParsons Ltd 1,476,445 27,328,186 1.04

389,437,440 14.87

BERMUDA BERMUDAS BERMUDES BERMUDACOSCO Pacific Ltd 11,600,000 15,251,717 0.58

Kunlun Energy Co Ltd 23,916,000 29,585,191 1.13

Nine Dragons Paper Holdings Ltd 10,604,000 14,569,093 0.56

Orient Overseas International Ltd 1,670,000 13,355,695 0.51

72,761,696 2.78

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEChina High Speed Transmission Equipment Group Co Ltd 16,927,000 37,636,671 1.43

China Zhongwang Holdings Ltd 24,000,000 14,204,501 0.54


Sany Heavy Equipment International Holdings Co Ltd 24,292,000 32,126,525 1.23

102,182,601 3.90

CHINA CHINA CHINE KINABeijing Capital International Airport Co Ltd 22,222,000 10,724,528 0.41


China National Building Material Co Ltd 5,400,000 9,820,538 0.37


China Railway Group Ltd 16,996,000 12,352,772 0.47


China Shipping Container Lines Co Ltd 43,000,000 14,838,768 0.57

China Southern Airlines Co Ltd 22,000,000 10,391,186 0.40

CSR Corp Ltd 25,458,000 21,398,687 0.81

Dongfang Electric Corp Ltd 5,280,000 19,374,261 0.74

Harbin Power Equipment Co Ltd 8,264,000 7,918,138 0.30



Weichai Power Co Ltd 2,200,000 18,294,143 0.70


248,720,651 9.49

HONG KONG HONG KONG HONG KONG HONG KONGBeijing Enterprises Holdings Ltd 3,286,000 23,143,723 0.88

Cathay Pacific Airways Ltd 5,500,000 13,543,886 0.52

China Mobile Ltd 6,911,000 70,192,465 2.68

Citic Pacific Ltd 14,750,000 30,161,109 1.15

CNOOC Ltd 16,600,000 28,524,931 1.09

Guangdong Investment Ltd 33,212,000 16,113,767 0.62

Hong Kong & China Gas Co Ltd 6,590,000 15,931,597 0.61

Hong Kong Exchanges and Clearing Ltd 1,660,000 26,018,065 1.00

Hutchison Whampoa Ltd 4,130,000 30,508,027 1.15

MTR Corp 10,060,036 35,847,279 1.37


Sun Hung Kai Properties Ltd 1,000,000 14,002,718 0.53




USD %


231 Invesco Funds

HONG KONG HONG KONG HONG KONG HONG KONG(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Swire Pacific Ltd 1,050,000 12,621,243 0.48

331,212,379 12.64

INDIA INDIA INDIA ÍNDIABharat Heavy Electricals Ltd 1,082,600 55,196,366 2.11

Crompton Greaves Ltd 1,781,817 11,166,883 0.43

GVK Power & Infrastructure Ltd 15,500,000 14,880,721 0.57

India Cements Ltd 2,900,000 6,569,757 0.25

Infrastructure Development Finance Co Ltd 3,200,000 12,025,074 0.46

Jindal Steel & Power Ltd 1,200,000 17,312,715 0.66

Larsen & Toubro Ltd 1,904,000 73,188,965 2.79


Reliance Industries Ltd 2,111,000 41,244,232 1.58

Sterlite Industries India Ltd 1,984,000 6,361,405 0.24

Tata Power Co Ltd 672,000 17,511,554 0.67

268,377,128 10.25

INDONESIA INDONESIEN INDONESIE INDONESIAAstra International Tbk PT 5,000,000 26,328,166 1.01


Bank Negara Indonesia Persero Tbk PT 10,240,500 3,896,150 0.15

Indocement Tunggal Prakarsa Tbk PT 16,828,500 32,967,839 1.26

Perusahaan Gas Negara PT 73,800,000 32,570,833 1.24

Semen Gresik Persero Tbk PT 9,979,500 9,581,866 0.37

United Tractors Tbk PT 35,271,666 71,734,014 2.73

199,187,334 7.60

MALAYSIA MALESIA MALASIA MALÁSIAGamuda Bhd 36,920,000 40,647,765 1.56

Genting Bhd 3,500,000 10,489,475 0.40

Lafarge Malayan Cement Bhd 7,590,000 17,583,410 0.67

Puncak Niaga Holding Bhd 945,000 865,758 0.03


76,628,465 2.93

PAKISTAN PAKISTAN PAKISTAN PAKISTANOil & Gas Development Co Ltd 7,500,000 12,627,997 0.48

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEMetro Pacific Investments Corp 126,601,000 9,391,806 0.36


17,539,772 0.67

SINGAPORE SINGAPORE SINGAPUR SINGAPURACapitaLand Ltd 6,000,000 17,187,102 0.66

Hyflux Ltd 3,000,000 6,658,067 0.25

Keppel Corp Ltd 3,708,000 24,182,319 0.92

SembCorp Industries Ltd 7,767,000 24,310,359 0.94

Singapore Exchange Ltd 3,864,000 21,438,974 0.81

Singapore Technologies Engineering Ltd 3,579,000 8,484,047 0.32

SMRT Corp Ltd 11,400,000 17,273,369 0.66

119,534,237 4.56

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SULCheil Industries Inc 280,000 24,464,091 0.93

Doosan Corp 88,000 8,789,724 0.34



Hyundai Mobis 100,500 18,169,467 0.69

KCC Corp 126,400 31,444,489 1.20

Korea Electric Power Corp 528,000 12,848,777 0.49

LG Chem Ltd 361,000 103,957,999 3.98

POSCO 80,150 32,507,245 1.24




USD %


232 Invesco Funds

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SUL(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Samsung Electronics Co Ltd 58,300 36,738,384 1.40


SK Energy Co Ltd 153,000 16,303,069 0.62

367,230,706 14.02

TAIWAN TAIWAN TAIWAN TAIWANAsia Cement Corp 12,363,367 11,105,577 0.42

BES Engineering Corp 47,600,000 11,196,421 0.43

Cheng Shin Rubber Industry Co Ltd 1,825,000 3,705,947 0.14

China Steel Corp 8,780,500 8,298,363 0.32


CTCI Corp 3,100,000 3,403,963 0.13



MediaTek Inc 1,138,271 15,501,372 0.59


Taiwan Fertilizer Co Ltd 3,586,000 10,948,085 0.41



226,609,458 8.65

THAILAND THAILANDIA TAILANDIA TAILÂNDIAAdvanced Info Service PCL 3,000,000 8,907,444 0.34

Kasikornbank PCL 1,900,000 6,605,655 0.25

Pruksa Real Estate PCL 13,023,200 10,013,037 0.38

Quality Houses PCL 40,000,000 3,056,264 0.12

Siam Cement PCL 2,000,000 18,574,159 0.71

Siam Commercial Bank PCL 4,909,400 14,969,110 0.57

Thai Airways International PCL 4,628,900 5,993,298 0.23

UNITED ARAB EMIRATES EMIRATI ARABI UNITI EMIRATOS ARABES UNIDOS EMIRADOS ARABES UNIDOSDP World Ltd 17,666,667 8,559,500 0.33




UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICACitigroup Global Marketing Holdings Invesco China ID Fund P/N 25/02/2011 13,561,807 93,305,232 3.56

TOTAL OPEN- TOTALE FONDI APERTI TOTAL DE FONDOS DE TOTAL DE FUNDOS DEENDED FUNDS INVERSION ABIERTOS INVESTIMENTO ABERTO

93,305,232 3.56






USD %


233 Invesco Funds






BASIC MATERIALS MATERIALI DI BASE MATERIALES BÁSICOS MATERIAIS BÁSICOSAsian Paints Ltd 35,000 2,050,369 1.54

Jindal Steel & Power Ltd 200,000 2,885,452 2.17

JSW Steel Ltd 85,000 2,029,893 1.52

Sterlite Industries India Ltd 660,000 2,116,193 1.59

9,081,907 6.82

COMMUNICATIONS COMUNICAZIONI COMUNICACIONES COMUNICAÇÕESZee Entertainment Enterprises Ltd 360,000 2,162,256 1.62

CONSUMER ZYKLISCHE BIENS DE CONSOMMATION SYKLISKECYCLICAL KONSUMGÜTER CYCLIQUES FORBRUKERVARERBajaj Auto Ltd 125,000 7,186,003 5.40

Hero Honda Motors Ltd 30,000 1,122,442 0.84



Sobha Developers Ltd 80,000 549,612 0.41

Tata Motors Ltd 275,000 5,824,207 4.38

20,873,844 15.67

CONSUMER NICHT-ZYKLISCHE BIENS DE CONSOMMATION IKKE-SYKLISKENON-CYCLICAL KONSUMGÜTER NON CYCLIQUES FORBRUKERVARERDr Reddy's Laboratories Ltd 105,000 3,044,006 2.28

Godrej Consumer Products Ltd 200,000 1,591,435 1.19

ITC Ltd 1,440,000 4,926,234 3.71

Lupin Ltd 600,000 4,500,796 3.38

Nestle India Ltd 24,999 1,631,934 1.22

15,694,405 11.78

DIVERSIFIED DIVERSIFICATI DIVERSIFICADO DIVERSIFICADOSintex Industries Ltd 300,000 2,241,632 1.68

ENERGY ENERGIE ENERGIE ENERGIBharat Petroleum Corp Ltd 60,000 954,160 0.72


Reliance Industries Ltd 130,000 2,539,910 1.91

8,607,266 6.46

FINANCIALS FINANZIARI ENTIDADES FINANCIERAS SERVIÇOS FINANCEIROSAxis Bank Ltd 200,000 5,585,377 4.19

Bank Of Baroda 230,000 3,912,272 2.94

Federal Bank Ltd 200,000 1,444,267 1.08

HDFC Bank Ltd 125,000 5,658,338 4.25

Housing Development Finance Corp 225,000 2,959,953 2.22

ICICI Bank Ltd 380,000 7,789,575 5.85

ING Vysya Bank Ltd 300,000 2,126,553 1.60

Jammu & Kashmir Bank Ltd 125,000 2,041,826 1.53


34,734,120 26.07

INDUSTRIAL INDUSTRIA INDUSTRIA INDÚSTRIABharat Heavy Electricals Ltd 25,000 1,274,625 0.96

Crompton Greaves Ltd 425,000 2,663,531 2.00

Grasim Industries Ltd 40,593 1,740,698 1.31



12,987,382 9.75




USD %


234 Invesco Funds



TECHNOLOGY TECHNOLOGIE TECHNOLOGIE TEKNOLOGIInfosys Technologies Ltd 165,000 9,415,921 7.06

Rolta India Ltd 140,000 480,873 0.36

Tata Consultancy Services Ltd 305,000 5,417,305 4.07

Wipro Ltd 355,000 2,996,620 2.25

18,310,719 13.74

UTILITIES PUBBLICI SERVIZI SERVICIOS PÚBLICOS SERVIÇOS PÚBLICOSGAIL India Ltd 345,000 3,342,038 2.51






USD %


235 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAASX Ltd 201,000 5,213,749 0.84

Australia & New Zealand Banking Group Ltd 490,000 9,857,061 1.58

Foster's Group Ltd 1,180,000 6,366,396 1.02

JB Hi-Fi Ltd 400,000 7,416,244 1.19




51,628,391 8.29


Haier Electronics Group Co Ltd 9,600,000 6,027,274 0.97

20,921,307 3.36

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEBaWang International Group Holding Ltd 7,630,000 3,495,982 0.56

Belle International Holdings Ltd 4,900,000 8,571,154 1.37


Ctrip.com International Ltd ADR 236,000 9,783,380 1.57

Hengan International Group Co Ltd 670,000 5,905,079 0.95

Lifestyle International Holdings Ltd 3,000,000 6,477,623 1.04


Minth Group Ltd 4,190,000 6,769,154 1.09

New World Department Store China Ltd 7,200,000 6,227,771 1.00



Zhongsheng Group Holdings Ltd 5,200,000 9,129,335 1.46

88,185,746 14.16



Dongfeng Motor Group Co Ltd 4,200,000 6,510,010 1.05




Sinopharm Group Co 2,000,000 7,595,784 1.22

Wumart Stores Inc 2,700,000 5,593,890 0.90

69,098,973 11.10

HONG KONG HONG KONG HONG KONG HONG KONGCathay Pacific Airways Ltd 2,950,000 7,264,448 1.17China Mobile Ltd 600,000 6,093,978 0.98China Resources Enterprise Ltd 2,300,000 9,540,676 1.53Dah Chong Hong Holdings Ltd 5,000,000 4,000,318 0.64Wharf Holdings Ltd 1,650,000 8,901,429 1.43

35,800,849 5.75

INDIA INDIA INDIA ÍNDIADr Reddy’s Laboratories Ltd 223,000 6,464,889 1.04

ICICI Bank Ltd 500,000 10,249,440 1.65

ITC Ltd 2,680,000 9,168,270 1.46

Lupin Ltd 835,000 6,263,607 1.01




Tata Motors Ltd 360,000 7,624,416 1.22





USD %


236 Invesco Funds

INDIA INDIA INDIA ÍNDIA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Zee Entertainment Enterprises Ltd 980,000 5,886,142 0.95

72,996,605 11.72

INDONESIA INDONESIEN INDONESIE INDONESIAAstra International Tbk PT 1,540,000 8,109,075 1.30Bank Danamon Indonesia Tbk PT 10,100,000 5,924,737 0.95Bank Negara Indonesia Persero Tbk PT 11,870,000 4,516,118 0.73Bank Tabungan Negara Tbk PT 42,000,000 8,390,702 1.34Indofood Sukses Makmur Tbk PT 18,490,000 9,260,348 1.49Lippo Karawaci Tbk PT 56,000,000 3,083,564 0.50XL Axiata Tbk PT 13,000,000 7,140,287 1.15

46,424,831 7.46

MALAYSIA MALESIA MALASIA MALÁSIAGenting Bhd 1,300,000 3,896,091 0.63Masterskill Education Group Bhd 4,150,000 5,276,524 0.84

9,172,615 1.47

MAURITIUS MAURITIUS MAURICIO MAURÍCIAGolden Agri-Resources Ltd 14,179,000 5,828,420 0.94

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEAlliance Global Group Inc 45,407,000 6,366,589 1.02SM Investments Corp 420,000 4,365,740 0.70

10,732,329 1.72

SINGAPORE SINGAPORE SINGAPUR SINGAPURACapitaMalls Asia Ltd 2,900,000 4,501,015 0.72CDL Hospitality Trusts 4,300,000 6,356,869 1.03Overseas Union Enterprise Ltd 3,650,000 7,252,905 1.16SATS Ltd 2,657,000 5,436,444 0.87Singapore Airlines Ltd 560,000 6,272,002 1.01Wilmar International Ltd 1,480,000 6,749,348 1.08Yanlord Land Group Ltd 4,200,000 5,434,840 0.88

42,003,423 6.75

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SULAmorepacific Corp 7,510 6,893,615 1.11CJ CheilJedang Corp 21,441 3,974,695 0.64Hyundai Home Shopping Network Corp 25,565 1,919,134 0.31Hyundai Mobis 64,000 11,570,606 1.86Hyundai Motor Co 80,000 9,425,306 1.51KB Financial Group Inc 189,000 7,657,581 1.23LG Electronics Inc 87,000 6,991,784 1.12Samsung Electronics Co Ltd 13,700 8,633,205 1.39Samsung Fire & Marine Insurance Co Ltd 40,000 6,380,849 1.02Shinhan Financial Group Co Ltd 198,000 7,576,320 1.22

71,023,095 11.41

TAIWAN TAIWAN TAIWAN TAIWANCathay Financial Holding Co Ltd 4,231,500 6,092,840 0.97Cathay Real Estate Development Co Ltd 10,600,000 4,889,026 0.79Chimei Innolux Corp 6,200,000 6,411,160 1.03Chinatrust Financial Holding Co Ltd 16,569,949 9,271,912 1.48D-Link Corp 8,550,000 6,946,178 1.12Hon Hai Precision Industry Co Ltd 2,498,608 8,813,849 1.42President Chain Store Corp 1,940,000 7,161,301 1.15Uni-President Enterprises Corp 5,758,132 6,655,270 1.07

56,241,536 9.03

THAILAND THAILANDIA TAILANDIA TAILÂNDIAKasikornbank PCL 2,700,000 9,386,984 1.51Pruksa Real Estate PCL 5,581,400 4,291,323 0.69Tisco Financial Group PCL 6,445,000 6,979,676 1.12

20,657,983 3.32




USD %



WARRANTS WARRANT WARRANTS TÍTULOS DE SUBSCRIÇÃOLUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOWuliangye Yibin Co Ltd WTS 20/01/2015 1,420,467 6,625,157 1.06

TOTAL WARRANTS TOTALE WARRANT TOTAL WARRANTS TOTAL DE TÍTULOS DE SUBSCRIÇÃO6,625,157 1.06



HONG KONG HONG KONG HONG KONG HONG KONGiShares FTSE ETF 3,900,000 5,949,773 0.96W.I.S.E. - CSI China Tracker Fund 1,190,000 4,867,439 0.78


10,817,212 1.74






USD %

237 Invesco Funds


238 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAWoolworths Ltd 26,745 661,476 1.99

BERMUDA BERMUDAS BERMUDES BERMUDAOrient-Express Hotels Ltd 34,815 302,194 0.91

Regal Hotels International Holdings Ltd 621,382 239,987 0.72

542,181 1.63

MEXICO MESSICO MÉXICO MÉXICOGrupo Televisa SA ADR 32,526 605,146 1.82

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSHeineken NV 7,431 330,044 0.99

PANAMA PANAMA PANAMA PANAMACarnival Corp 10,354 319,421 0.96

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAbercrombie & Fitch Co 14,943 523,902 1.58

Amazon.com Inc 5,174 640,101 1.92

American Eagle Outfitters Inc 36,636 477,733 1.44

Brinker International Inc 34,074 548,080 1.65

Buffalo Wild Wings Inc 7,413 313,162 0.94

Carter's Inc 8,742 197,963 0.60

Choice Hotels International Inc 9,407 310,384 0.93

Coach Inc 9,119 326,050 0.98

Comcast Corp 46,935 798,130 2.40

Costco Wholesale Corp 8,407 471,423 1.42

Darden Restaurants Inc 18,634 771,354 2.32

DIRECTV 21,276 804,339 2.42

Discovery Communications Inc 21,348 805,780 2.42

Gap Inc 11,219 189,489 0.57

Google Inc 741 335,336 1.01

GSI Commerce Inc 13,780 306,881 0.92

Hanesbrands Inc 14,609 349,666 1.05


Home Depot Inc 35,903 1,004,566 3.02

Hyatt Hotels Corp 9,905 361,830 1.09

International Game Technology 44,560 660,825 1.99


J Crew Group Inc 10,139 306,705 0.92

Jack in the Box Inc 16,746 339,190 1.02

Knot Inc 35,634 252,111 0.76

Kohl's Corp 21,492 1,000,130 3.01

Lamar Advertising Co 21,038 546,252 1.64

Lowe's Cos Inc 48,779 997,774 3.00

Macy's Inc 18,897 362,444 1.09

Marriott International Inc 35,918 1,137,343 3.41

McDonald's Corp 14,905 1,084,562 3.25

MGM Resorts International 14,684 132,964 0.40

National CineMedia Inc 19,815 315,158 0.95

NIKE Inc 14,071 989,965 2.98

Nordstrom Inc 10,615 304,916 0.92

Omnicom Group Inc 28,527 1,001,726 3.02

OpenTable Inc 3,540 187,195 0.56

Penn National Gaming Inc 18,488 522,194 1.57

PepsiCo Inc 5,283 335,999 1.01

PF Chang's China Bistro Inc 8,810 383,499 1.15

Polo Ralph Lauren Corp 4,280 322,840 0.97

Scripps Networks Interactive Inc 23,875 964,431 2.90




USD %


239 Invesco Funds

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Staples Inc 33,868 597,601 1.80

Starbucks Corp 29,058 680,684 2.05

Target Corp 25,997 1,319,999 3.96

Tiffany & Co 5,988 238,382 0.72

Time Warner Cable Inc 9,698 502,308 1.51

Time Warner Inc 23,966 708,914 2.13

TJX Cos Inc 8,060 325,664 0.98

Urban Outfitters Inc 7,334 225,117 0.68

Viacom Inc 'A' 11,312 403,838 1.21

Viacom Inc 'B' 15,975 501,695 1.51

Walt Disney Co 48,729 1,575,652 4.75

WMS Industries Inc 17,137 622,502 1.87

30,706,316 92.34








USD %


240 Invesco Funds






CANADA CANADA CANADÁ CANADÁCanadian Natural Resources Ltd 97,513 3,181,206 1.11

Niko Resources Ltd 31,797 3,123,384 1.09

Suncor Energy Inc 112,321 3,484,197 1.21

Talisman Energy Inc 181,993 2,892,779 1.01

Ultra Petroleum Corp 91,068 3,569,410 1.23

16,250,976 5.65

FRANCE FRANCIA FRANCIA FRANÇATotal SA ADR 127,484 5,896,772 2.05

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSCore Laboratories NV 41,481 3,292,554 1.15

SWITZERLAND SVIZZERA SUIZA SUÍÇATransocean Ltd 62,518 3,274,693 1.14

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOBG Group Plc 169,611 2,741,288 0.95

BP Plc ADR 34,969 1,232,657 0.43

Esco Plc ADR 130,640 5,426,133 1.89

Royal Dutch Shell Plc 166,904 4,416,260 1.54

Tullow Oil Plc 196,651 3,623,688 1.26

16,250,976 5.65

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAnadarko Petroleum Corp 264,003 12,243,139 4.26Apache Corp 138,105 12,364,541 4.30Arch Coal Inc 205,924 4,522,091 1.57Baker Hughes Inc 286,931 10,940,679 3.81Cabot Oil & Gas Corp 86,413 2,436,415 0.85Cameron International Corp 269,523 10,022,213 3.49Chevron Corp 169,541 12,511,278 4.35Comstock Resources Inc 49,480 1,081,138 0.38Concho Resources Inc 24,784 1,453,706 0.51ConocoPhillips 165,883 8,737,887 3.04Continental Resources Inc 61,515 2,509,812 0.87Dresser-Rand Group Inc 114,245 4,077,975 1.42Dril-Quip Inc 45,439 2,389,183 0.83EOG Resources Inc 88,550 7,752,553 2.70Exxon Mobil Corp 253,574 14,957,062 5.20Fluor Corp 47,419 2,129,350 0.74FMC Technologies Inc 93,016 5,779,549 2.01Halliburton Co 627,523 17,878,130 6.21Helmerich & Payne Inc 250,634 9,482,737 3.30Key Energy Services Inc 161,935 1,305,196 0.45Murphy Oil Corp 28,945 1,576,345 0.55National Oilwell Varco Inc 215,865 8,127,317 2.83Newfield Exploration Co 119,105 5,771,233 2.01Occidental Petroleum Corp 201,572 14,871,982 5.17Oceaneering International Inc 60,614 3,052,218 1.06Peabody Energy Corp 139,576 5,849,630 2.03Pride International Inc 120,678 2,831,106 0.98Rowan Cos Inc 55,636 1,433,183 0.50Schlumberger Ltd 290,207 15,711,807 5.47Southwestern Energy Co 212,394 7,047,233 2.45Valero Energy Corp 172,790 2,768,960 0.96Weatherford International Ltd 353,036 5,350,261 1.86XTO Energy

218,965,909 76.16

Invesco Energy Fund



USD %


241 Invesco Funds





Invesco Energy Fund



USD %


242 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIACFS Retail Property Trust 43,046 74,349 2.41

Goodman Group 185,655 104,546 3.39

ING Office Fund 97,744 52,431 1.70

Mirvac Group 47,164 56,372 1.83

Stockland 40,387 141,490 4.58


719,164 23.30




Longfor Properties Co Ltd 19,500 21,741 0.70



143,286 4.64

HONG KONG HONG KONG HONG KONG HONG KONGChina Overseas Land & Investment Ltd 62,400 133,050 4.31

Hang Lung Properties Ltd 28,000 125,234 4.06



Hysan Development Co Ltd 7,000 22,222 0.72


Link REIT 25,500 74,806 2.42


Sino Land Co Ltd 24,000 41,765 1.35



1,062,792 34.43

JAPAN GIAPPONE JAPÓN JAPÃOAdvance Residence Investment Corp 8 12,395 0.40

Aeon Mall Co Ltd 1,000 22,807 0.74










708,161 22.94

SINGAPORE SINGAPORE SINGAPUR SINGAPURACapitaCommercial Trust 32,000 32,678 1.06CapitaLand Ltd 40,000 114,580 3.71CapitaMall Trust 64,530 92,067 2.98CapitaMalls Asia Ltd 9,000 13,969 0.45City Developments Ltd 2,000 16,177 0.52Keppel Land Ltd 18,000 50,500 1.64Suntec Real Estate Investment Trust 47,000 49,036 1.59

369,007 11.95





USD %



OTHER SECURITIES ALTRI TITOLI OTROS VALORES OUTROS VALORES MOBILIÁRIOS


AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIABGP Holdings 214,552 – –

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESRENTA VARIABLE - -

TOTAL OTHER SECURITIES TOTALE ALTRI TITOLI TOTAL OTROS VALORES TOTAL DE OUTROS VALORESMOBILIÁRIOS - -






USD %

243 Invesco Funds


244 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIACFS Retail Property Trust 41,886 72,345 0.73

Goodman Group 175,000 98,546 0.99

ING Office Fund 70,988 38,079 0.38

Mirvac Group 36,802 43,987 0.44

Stockland 37,993 133,103 1.34


. 685,786 6.91

AUSTRIA ÖSTERREICH AUTRICHE ØSTERRIKEConwert Immobilien Invest SE 1,841 21,060 0.21

BRAZIL BRASILIEN BRESIL BRASILAliansce Shopping Centers SA 1,200 7,818 0.08

BR Properties SA 2,200 17,453 0.17


45,856 0.46

CANADA CANADA CANADÁ CANADÁBoardwalk Real Estate Investment Trust 500 20,528 0.21

Brookfield Properties Corp 3,907 55,829 0.56

Canadian Real Estate Investment Trust 2,900 84,085 0.85

Cominar Real Estate Investment Trust 1,900 36,986 0.37

Morguard Real Estate Investment Trust 1,900 23,958 0.24

Primaris Retail Real Estate Investment Trust 1,400 25,033 0.25






120,869 1.22

FINLAND FINLANDIA FINLANDIA FINLÂNDIACitycon OYJ 6,529 21,776 0.22

Sponda OYJ 6,433 24,352 0.24

46,128 0.46

FRANCE FRANCIA FRANCIA FRANÇAGecina SA 287 28,511 0.29

Klepierre 3,009 91,573 0.92

Mercialys SA 1,116 36,295 0.37

Societe Immobiliere de Location pour l'Industrie et le Commerce 361 39,349 0.40

Unibail-Rodamco SE 958 176,890 1.77

372,618 3.75

HONG KONG HONG KONG HONG KONG HONG KONGHang Lung Properties Ltd 25,000 111,816 1.13




Link REIT 15,500 45,470 0.46


Sino Land Co Ltd 16,000 27,844 0.28



1,025,871 10.34




USD %


245 Invesco Funds

ITALY ITALIA ITALIA ITÁLIABeni Stabili SpA 18,144 14,398 0.15

JAPAN GIAPPONE JAPÓN JAPÃOAdvance Residence Investment Corp 7 10,845 0.11

Aeon Mall Co Ltd 900 20,526 0.21










661,066 6.66

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOProLogis European Properties 3,470 20,408 0.21

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSCorio NV 1,304 73,556 0.74

Eurocommercial Properties NV 829 31,558 0.32

105,114 1.06

SINGAPORE SINGAPORE SINGAPUR SINGAPURACapitaCommercial Trust 29,000 29,615 0.30

CapitaLand Ltd 37,000 105,987 1.07

CapitaMall Trust 61,000 87,030 0.88

CapitaMalls Asia Ltd 12,000 18,625 0.19

City Developments Ltd 2,000 16,177 0.16

Keppel Land Ltd 18,000 50,500 0.51

Suntec Real Estate Investment Trust 44,000 45,906 0.46

353,840 3.57

SWEDEN SVEZIA SUECIA SUÉCIACastellum AB 3,869 39,523 0.40

SWITZERLAND SVIZZERA SUIZA SUÍÇASwiss Prime Site AG 1,086 70,030 0.71

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOBig Yellow Group Plc 6,203 27,288 0.27

British Land Co Plc 9,541 65,657 0.66

Derwent London Plc 1,489 32,103 0.32

Hammerson Plc 11,746 63,746 0.64

Hansteen Holdings Plc 19,403 18,962 0.19

Land Securities Group Plc 9,965 92,274 0.94

Segro Plc 6,734 27,379 0.28

Shaftesbury Plc 5,887 37,191 0.37

Unite Group Plc 7,781 21,411 0.22

386,011 3.89

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAcadia Realty Trust 1,565 27,841 0.28

Alexandria Real Estate Equities Inc 1,300 90,448 0.91

AMB Property Corp 1,900 44,935 0.45

AvalonBay Communities Inc 834 85,848 0.87

BioMed Realty Trust Inc 1,400 23,562 0.24

Boston Properties Inc 1,200 97,332 0.98

Camden Property Trust 2,500 112,250 1.13

Corporate Office Properties Trust SBI MD 600 21,726 0.22

DCT Industrial Trust Inc 5,600 25,956 0.26

DiamondRock Hospitality Co 2,900 25,912 0.26

Digital Realty Trust Inc 2,200 128,017 1.29




USD %


246 Invesco Funds

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICA(CONTINUED) (SEGUE) (CONTINUACIÓN) (CONTINUAÇÃO)Equity Residential 3,500 158,252 1.59

Essex Property Trust Inc 1,000 103,370 1.04

HCP Inc 1,000 35,350 0.36

Health Care REIT Inc 2,800 127,274 1.28

Highwoods Properties Inc 1,500 46,785 0.47

Host Hotels & Resorts Inc 8,715 113,644 1.15

Kilroy Realty Corp 1,800 54,801 0.55

LaSalle Hotel Properties 900 18,860 0.19

Liberty Property Trust 3,200 96,176 0.97

Macerich Co 2,419 97,607 0.98

Marriott International Inc 1,563 49,492 0.50

Mid-America Apartment Communities Inc 300 16,763 0.17

National Retail Properties Inc 1,300 31,096 0.31

Nationwide Health Properties Inc 1,700 64,983 0.65

Omega Healthcare Investors Inc 1,500 31,515 0.32

Piedmont Office Realty Trust Inc 2,000 35,810 0.36

ProLogis 5,200 55,926 0.56

Public Storage 1,200 116,874 1.18

Regency Centers Corp 2,800 101,598 1.02

Retail Opportunity Investments Corp 1,414 13,270 0.13

Senior Housing Properties Trust 4,200 97,230 0.98

Simon Property Group Inc 3,565 320,172 3.24

SL Green Realty Corp 600 34,962 0.35

Sovran Self Storage Inc 400 14,818 0.15

Tanger Factory Outlet Centers 700 32,022 0.32

Ventas Inc 1,700 85,723 0.86


Washington Real Estate Investment Trust 1,200 36,546 0.37

2,825,317 28.46


BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASUNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOHammerson Plc 4.875% EUR 19/06/2015 100,000 132,379 1.33

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICACorporate Office Properties Trust SBI MD 7.625% USD Perpetual 500 12,596 0.13

Digital Realty Trust Inc 7.875% USD Perpetual 6,500 167,278 1.69

Health Care REIT Inc 7.625% USD Perpetual 2,200 55,990 0.56

Kilroy Realty Corp 7.8% USD Perpetual 6,800 169,864 1.71



National Retail Properties Inc 7.375% USD Perpetual 2,300 58,291 0.59

Omega Healthcare Investors Inc 8.375% USD Perpetual 2,200 56,551 0.57






Realty Income Corp 6.75% USD Perpetual 2,600 65,605 0.66

SL Green Realty Corp 7.875% USD Perpetual 14,400 362,087 3.65

Vornado Realty Trust 7% USD Perpetual 3,600 92,826 0.94

1,821,782 18.36

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES 1,954,161 19.69





USD %




AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIABGP Holdings 187,667 – –

TOTAL EQUITIES TOTALE AZIONI TOTAL DE VALORES DE TOTAL DE ACÇÕESRENTA VARIABLE - -

BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASUNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICABank of America Lar Loan FRN USD 15/10/2019 100,000 82,446 0.83

Bear Stearns Commercial Mortgage Securities 4.484% USD 11/06/2041 491 491 –

Commercial Mortgage Pass Through Certificates 6.83% USD 16/02/2034 80,000 81,107 0.82

Credit Suisse Collaterised Mortgage Obligation FRN USD 15/10/2021 100,000 85,306 0.86

DLJ Commercial Mortgage Corp 7.459% USD 10/06/2031 45,000 49,792 0.50



Merrill Lynch Collaterised Mortgage Obligations 0.446% USD 15/06/2022 50,000 42,792 0.43

Merrill Lynch Trust FRN USD 15/06/2022 75,000 60,761 0.61

Wachovia Bank Commercial Mortgage Trust FRN USD 15/09/2021 50,000 41,055 0.41

Wachovia Bank Commercial Mortgage Trust 4.107% USD 15/06/2035 20,000 20,531 0.21

568,177 5.73


TOTAL OTHER TRANSFERABLE SECURITIES/TOTALE ALTRI VALORI MOBILIARI/TOTAL OTROS VALORES NEGOCIABLES/TOTAL DEOUTROS VALORES NEGOCIÁVEIS 568,177 5.73






USD %

247 Invesco Funds


248 Invesco Funds






BRAZIL BRASILIEN BRESIL BRASILBanco Bradesco SA ADR 2,380 41,162 0.60



BR Malls Participacoes SA 1,500 22,977 0.33

Bradespar SA 2,200 44,820 0.65


Cia de Bebidas das Americas 200 21,332 0.31

Cia Energetica de Minas Gerais ADR 900 14,787 0.21

Cielo SA 4,500 38,461 0.56

CPFL Energia SA 4,000 94,039 1.36

Cyrela Brazil Realty SA Empreendimentos e Participacoes 4,900 60,217 0.87

Investimentos Itau SA 10,000 68,222 0.99


Klabin SA 14,200 38,936 0.56


Lojas Renner SA 2,200 69,242 1.00

Marfrig Alimentos SA 2,500 23,981 0.35

Marfrig Alimentos SA (Rights 04/09/2010) 1 0 –

Natura Cosmeticos SA 1,200 29,013 0.42

Petroleo Brasileiro SA 4,300 62,177 0.90

Redecard SA 800 11,077 0.16

Souza Cruz SA 2,200 100,448 1.45


Vale SA 2,300 53,190 0.77


1,140,879 16.51


China Shineway Pharmaceutical Group Ltd 7,000 18,308 0.26

China Zhongwang Holdings Ltd 62,800 37,169 0.54


Tencent Holdings Ltd 2,200 40,307 0.59

124,370 1.80

CHILE CILE CHILE CHILEEnersis SA 167,361 73,325 1.06

ENTEL Chile SA 980 15,795 0.23

Sociedad Quimica y Minera de Chile SA 425 18,228 0.26

107,348 1.55

CHINA CHINA CHINE KINAAir China Ltd 12,000 12,840 0.19Bank of China Ltd 190,000 95,359 1.38Bank of Communications Co Ltd 45,000 47,744 0.69BBMG Corp 14,500 18,617 0.27China Communications Construction Co Ltd 15,000 13,264 0.19China Construction Bank Corp 138,000 113,956 1.65China Life Insurance Co Ltd 20,000 76,279 1.10China Merchants Bank Co Ltd 22,500 57,720 0.84China Petroleum & Chemical Corp 136,000 107,410 1.55Dongfeng Motor Group Co Ltd 30,000 46,499 0.67Industrial & Commercial Bank of China 162,000 117,534 1.70Inner Mongolia Yitai Coal Co 5,100 28,165 0.41PetroChina Co Ltd 32,000 34,650 0.50Weichai Power Co Ltd 3,000 24,947 0.36Yanzhou Coal Mining Co Ltd 6,000 12,300 0.18Zhejiang Expressway Co Ltd 22,000 19,552 0.28

826,836 11.96




USD %


249 Invesco Funds

EGYPT EGITTO EGIPTO EGIPTOEgyptian Financial Group-Hermes Holding 2,553 12,953 0.19

HONG KONG HONG KONG HONG KONG HONG KONGChina Mobile Ltd 25,000 253,916 3.68

CNOOC Ltd 60,000 103,102 1.49

357,018 5.17

INDONESIA INDONESIEN INDONESIE INDONESIABank Mandiri Tbk PT 67,500 43,892 0.64


Indo Tambangraya Megah PT 8,500 36,902 0.53


153,489 2.22

MALAYSIA MALESIA MALASIA MALÁSIAAlliance Financial Group Bhd 15,100 14,748 0.21DiGi.Com Bhd 4,700 36,723 0.53PLUS Expressways Bhd 13,000 17,337 0.25Public Bank Bhd 11,600 44,986 0.65RHB Capital Bhd 11,100 23,469 0.34Telekom Malaysia Bhd 45,000 50,690 0.74Tenaga Nasional Bhd 19,500 55,024 0.80UMW Holdings Bhd 6,900 14,490 0.21

257,467 3.73

MEXICO MESSICO MÉXICO MÉXICOAlfa SAB de CV 7,700 54,384 0.79America Movil SAB de CV ADR 3,300 152,344 2.20Grupo Aeroportuario del Pacifico SAB de CV ADR 1,500 42,248 0.61Grupo Mexico SAB de CV 7,700 19,684 0.28Kimberly-Clark de Mexico SAB de CV 5,300 30,533 0.45

299,193 4.33

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEMetropolitan Bank & Trust 28,000 39,583 0.57

POLAND POLEN POLOGNE POLENGrupa Lotos SA 1,440 13,317 0.19Powszechna Kasa Oszczednosci Bank Polski SA 1,191 14,127 0.20Powszechny Zaklad Ubezpieczen SA 460 54,025 0.79

81,469 1.18

RUSSIA RUSSIA RUSIA RÚSSIAFederal Hydrogenerating Co ADR 2,927 15,147 0.22Gazprom OAO ADR 4,062 82,682 1.20Lukoil OAO ADR 320 17,008 0.25Mechel ADR 600 13,221 0.19MMC Norilsk Nickel ADR 2,544 43,095 0.62Rosneft Oil Co GDR 23,363 146,603 2.11Tatneft ADR 2,761 79,945 1.16

397,701 5.75

SOUTH AFRICA SUDAFRICA SUDÁFRICA ÁFRICA DO SULABSA Group Ltd 2,716 45,508 0.66African Rainbow Minerals Ltd 2,286 46,493 0.67AngloGold Ashanti Ltd ADR 600 25,485 0.37ArcelorMittal South Africa Ltd 5,346 59,182 0.87Exxaro Resources Ltd 1,526 23,124 0.33FirstRand Ltd 19,399 49,220 0.71Imperial Holdings Ltd 3,772 50,991 0.74Kumba Iron Ore Ltd 1,187 52,722 0.76Liberty Holdings Ltd 3,526 33,423 0.48Standard Bank Group Ltd 947 13,053 0.19Woolworths Holdings Ltd 24,706 80,183 1.16

479,384 6.94




USD %


250 Invesco Funds

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SULBusan Bank 2,700 28,770 0.42

Dongkuk Steel Mill Co Ltd 2,060 41,152 0.60

GS Holdings 1,700 69,693 1.00

Hana Financial Group Inc 1,660 42,750 0.61

Hankook Tire Co Ltd 590 12,807 0.19

Hynix Semiconductor Inc 2,920 51,330 0.74

Hyundai Heavy Industries Co Ltd 71 15,649 0.23

Hyundai Motor Co 535 63,032 0.91

Hyundai Motor Co (Preferred) 308 12,961 0.19

Industrial Bank of Korea 1,650 19,921 0.29

Kia Motors Corp 1,430 36,767 0.53

Korea Exchange Bank 3,570 37,743 0.55

KT Corp 2,950 107,958 1.56

LG Chem Ltd 157 45,212 0.65

LG Corp 236 16,939 0.25

LG Display Co Ltd 1,690 46,976 0.68

POSCO 113 45,830 0.66

Samsung Electronics Co Ltd 235 148,088 2.15

Samsung Engineering Co Ltd 141 15,495 0.22

SK Energy Co Ltd 124 13,213 0.19

Woori Investment & Securities Co Ltd 2,470 36,105 0.52

908,391 13.14

TAIWAN TAIWAN TAIWAN TAIWANAdvanced Semiconductor Engineering Inc 63,794 43,862 0.63

AU Optronics Corp 14,000 12,073 0.17

Chang Hwa Commercial Bank 69,000 39,148 0.57

E.Sun Financial Holding Co Ltd 39,511 17,638 0.26

Farglory Land Development Co Ltd 9,000 19,442 0.28

Formosa Plastics Corp 16,000 35,437 0.52

HTC Corp 2,100 38,317 0.55

Hua Nan Financial Holdings Co Ltd 36,925 21,642 0.31

Macronix International 23,000 12,224 0.18

Mega Financial Holding Co Ltd 50,000 30,163 0.44

Nan Ya Plastics Corp 17,000 32,743 0.47

Powertech Technology Inc 26,000 77,024 1.11

Qisda Corp 26,000 14,447 0.21

Taishin Financial Holding Co Ltd 106,560 43,493 0.62

Taiwan Semiconductor Manufacturing Co Ltd ADR 23,200 218,893 3.18

Tripod Technology Corp 6,000 20,556 0.30

TSRC Corp 19,000 27,714 0.40

United Microelectronics Corp 154,000 62,256 0.90

767,072 11.10

THAILAND THAILANDIA TAILANDIA TAILÂNDIAAdvanced Info Service PCL 5,100 15,143 0.22

Bangkok Bank PCL 8,700 41,929 0.61

Banpu PCL 2,700 52,394 0.76

Krung Thai Bank PCL 33,800 15,398 0.22

124,864 1.81

TURKEY TURCHIA TURQUÍA TURQUIATurk Telekomunikasyon AS 16,207 67,028 0.97

Turkiye Garanti Bankasi AS 2,921 13,990 0.20

Turkiye Halk Bankasi AS 5,257 41,764 0.60

Turkiye Is Bankasi 13,448 48,144 0.70

170,926 2.47





USD %


251 Invesco Funds



FRANCE FRANCIA FRANCIA FRANÇALyxor ETF MSCI India 36,300 553,911 8.01


553,911 8.01






USD %


252 Invesco Funds






AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIABHP Billiton Ltd ADR 294 19,552 0.98

Newcrest Mining Ltd 2,412 79,798 3.98

. 99,350 4.96

CANADA CANADA CANADÁ CANADÁAgnico-Eagle Mines Ltd 1,530 99,282 4.96

Alamos Gold Inc 3,332 54,233 2.71

Aurizon Mines Ltd 8,836 58,627 2.93

Barrick Gold Corp 2,235 103,626 5.16

Cameco Corp 1,576 38,573 1.93

Centerra Gold Inc 1,957 27,568 1.38

Detour Gold Corp 3,178 95,309 4.76

Eldorado Gold Corp 4,910 95,024 4.75

Franco-Nevada Corp 1,481 44,569 2.23

Fronteer Gold Inc 10,337 75,709 3.78

Goldcorp Inc 2,695 117,853 5.88

Harry Winston Diamond Corp 1,447 14,927 0.75

IAMGOLD Corp 5,528 101,871 5.09

Kinross Gold Corp 2,155 35,014 1.75

Minefinders Corp 4,652 42,240 2.11

Osisko Mining Corp 5,515 72,691 3.63

Pan American Silver Corp 2,157 53,030 2.65

Silver Wheaton Corp 4,993 114,065 5.69

Yamana Gold Inc 8,865 91,398 4.56

1,335,609 66.70

PERU PERÚ PERÚ PERUCia de Minas Buenaventura SA ADR 1,975 80,037 4.00

SOUTH AFRICA SUDAFRICA SUDÁFRICA ÁFRICA DO SULGold Fields Ltd ADR 3,830 54,366 2.72

Harmony Gold Mining Co Ltd ADR 1,526 15,657 0.78

Impala Platinum Holdings Ltd 1,620 38,114 1.90

108,137 5.40

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOHammerson Plc 4.875% EUR 19/06/2015 100,000 132,379 1.33

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICACoeur d'Alene Mines Corp 1,134 19,499 0.97

Freeport-McMoRan Copper & Gold Inc 632 44,474 2.22


166,864 8.33


STRUCTURED PRODUCTS PRODOTTI STRUTTURATI PRODUCTOS PRODUTOS ESTRUCTURADOS ESTRUTURADOS

IRELAND IRLANDA IRLANDA IRLANDASource Physical Markets Secured Gold Linked Noted 714 87,886 4.39

TOTAL STRUCTURED TOTALE PRODOTTI TOTAL DE PRODUTOS TOTAL PRODUCTOS ESTRUCTURADOSPRODUCTS STRUTTURATI ESTRUTURADOS

87,886 4.39




USD %


TRANSFERABLE SECURITIES ADMITTED TO OFFICIAL STOCK EXCHANGE LISTINGS OR DEALT IN ON ANOTHER REGULATED MARKETVALORI MOBILIARI AMMESSI ALLA QUOTAZIONE UFFICIALE E VALORI MOBILIARI NEGOZIATI IN ALTRI MERCATI REGOLAMENTATI VALORES NEGOCIABLES ADMITIDOS A COTIZACIÓN OFICIAL EN BOLSA DE VALORES NEGOCIABLES NEGOCIADOS EN OTROS MERCADOS ORGANIZADOSVALORES NEGOCIÁVEIS ADMITIDOS À COTAÇÃO OFICIAL EN BOLSA DE VALORES TRANSFERÍVEIS NEGOCIADOS NOUTROS MERCADOS REGULADOSTOTALE OMSETTELIGE BØRSNOTERTE VERDIPAPIRER OMSATT PÅ BØRSEN ELLER ET ANNET REGULERT MARKED 1,968,620 98.31






USD %

253 Invesco Funds


254 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASBank of America FRN USD 02/12/2010 5,000,000 5,011,125 4.31Lloyds TSB Bank FRN USD 01/04/2011 5,000,000 5,016,967 4.32Westpac Banking Corp FRN USD 02/03/2011 5,000,000 4,999,980 4.30




BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASRoyal Bank Of Scotland FRN USD 08/04/2011 6,500,000 6,509,854 5.60


TOTAL OTHER TRANSFERABLE SECURITIES/TOTALE ALTRI VALORI MOBILIARI/TOTAL OTROS VALORES NEGOCIABLES/TOTAL DEOUTROS VALORES NEGOCIÁVEIS

6,509,854 5.60

MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/STRUMENTI DELMERCATO MONETARIO IDONEI AI SENSI DELL’ARTICOLO 41.1H DELLA LEGGE DEL 20 DICEMBRE 2002/INSTRUMENTOS DELMERCADO MONETARIO QUE CUMPLEN CON LOS REQUISITOS DEL ARTÍCULO 41.1H DE LA LEY DE 20 DE DICIEMBRE DE2002/INSTRUMENTOS DO MERCADO MONETÁRIO ELEGÍVEIS AO ABRIGO DO ARTIGO 41.1H DA LEI DE 20 DE DEZEMBRO DE 2002Bank Nova Scotia FRN C/D USD 08/11/2010 4,000,000 4,000,000 3.44Bank of Western Australia C/P USD 29/10/2010 5,000,000 4,997,792 4.30Banque Et Caisse C/P USD 12/10/2010 4,000,000 3,998,792 3.44BNZ International Fund C/P USD 13/09/2010 5,000,000 4,999,576 4.30Caisse Des Depots C/P USD 24/11/2010 3,000,000 2,997,953 2.58Caisse Des Depots Et Consignations C/D USD 12/11/2010 4,000,000 3,997,442 3.44Credit Agricole CIB Australia C/P USD 29/10/2010 4,000,000 3,998,233 3.44Credit Suisse C/P USD 21/09/2010 5,000,000 4,999,288 4.30National Australia Bank C/P USD 20/09/2010 5,000,000 4,999,324 4.30Rabobank Nederland Australia C/P USD 21/10/2010 5,000,000 4,998,126 4.30

TOTAL MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/TOTALE STRUMENTI DELMERCATO MONETARIO IDONEI AI SENSI DELL’ARTICOLO 41.1H DELLA LEGGE DEL 20 DICEMBRE 2002/TOTAL INSTRUMENTOS DELMERCADO MONETARIO QUE CUMPLEN CON LOS REQUISITOS DEL ARTÍCULO 41.1H DE LA LEY DE 20 DE DICIEMBRE DE 200/TOTAL DEINSTRUMENTOS DO MERCADO MONETÁRIO ELEGÍVEIS AO ABRIGO DO ARTIGO 41.1H DA LEI DE 20 DE DEZEMBRO DE 2002

43,986,526 37.84


Short-Term Investments Co Global Series - US Dollar Liquidity Portfolio 10,700,000 10,700,000 9.21


10,700,000 9.21



Invesco USD Reserve Fund



USD %


255 Invesco Funds

Invesco Euro Reserve Fund



EUR %





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAlliance and Leicester FRN EUR Perpetual 30,000,000 30,000,000 8.57Societe Generale FRN EUR 27/09/2010 7,500,000 7,501,040 2.14

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES ANLEIHEN INSGESAMT COTÉE 37,501,040 10.71


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/STRUMENTI DELMERCATO MONETARIO IDONEI AI SENSI DELL’ARTICOLO 41.1H DELLA LEGGE DEL 20 DICEMBRE 2002/INSTRUMENTOS DELMERCADO MONETARIO QUE CUMPLEN CON LOS REQUISITOS DEL ARTÍCULO 41.1H DE LA LEY DE 20 DE DICIEMBRE DE2002/INSTRUMENTOS DO MERCADO MONETÁRIO ELEGÍVEIS AO ABRIGO DO ARTIGO 41.1H DA LEI DE 20 DE DEZEMBRO DE 2002Banco Bilbao Vizcaya Argentaria C/P EUR 24/09/2010 15,000,000 14,994,908 4.28Bank of West Australia C/P EUR 19/10/2010 10,000,000 9,991,665 2.85Caisse Des Depots C/P EUR 05/11/2010 18,000,000 17,983,846 5.15Credit Agricole S.A. C/D EUR 01/09/2010 15,000,000 14,999,754 4.29Fortis Bank C/D EUR 01/09/2010 20,000,000 19,999,731 5.71Fortis Bank C/D EUR 04/01/2011 14,000,000 13,969,200 3.99Lloyds Banking Group C/P EUR 26/10/2010 13,000,000 12,987,779 3.71Lloyds TSB Bank Plc C/P EUR 18/11/2010 10,000,000 9,982,147 2.85Nordea AB C/P EUR 24/09/2010 15,000,000 14,995,379 4.28Rabobank Nederland C/P EUR 06/09/2010 10,000,000 9,999,392 2.86Rabobank Nederland C/P EUR 26/11/2010 10,000,000 9,989,257 2.85Royal Bank of Scotland C/P EUR 27/09/2010 10,000,000 9,995,804 2.86Royal Bank of Scotland C/P EUR 18/10/2010 10,000,000 9,993,237 2.86Societe Generale C/P EUR 27/09/2010 8,000,000 7,996,842 2.28Svenska Handel C/P EUR 06/09/2010 20,000,000 19,998,386 5.72


197,877,327 56.54




25,930,000 7.41




Invesco Global Bond Fund



USD %





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASBank of America Corp 4.625% EUR 07/08/2017 500,000 649,474 1.61Belgium Government Bond 3.25% EUR 28/09/2016 600,000 807,135 2.01BP Capital Markets Plc 4.75% USD 10/11/2010 600,000 601,950 1.50BP Capital Markets Plc 5.25% USD 07/11/2013 1,000,000 1,038,950 2.58Bundesobligation 2.5% EUR 10/10/2014 1,000,000 1,342,771 3.34Bundesrepublik Deutschland 3.75% EUR 04/07/2013 300,000 412,675 1.03Bundesrepublik Deutschland 3.75% EUR 04/01/2017 400,000 572,921 1.42Goldman Sachs Group Inc 5.375% USD 15/03/2020 500,000 516,228 1.28HBOS Plc FRN AUD 01/05/2017 1,000,000 709,291 1.76Hongkong & Shanghai Banking Corp Ltd FRN USD Perpetual 1,705,000 1,641,062 4.08Ireland Government Bond 5% EUR 18/10/2020 1,000,000 1,191,224 2.96Italy Buoni Poliennali Del Tesoro 3% EUR 15/04/2015 1,000,000 1,291,315 3.21Italy Buoni Poliennali Del Tesoro 4% EUR 01/09/2020 500,000 648,140 1.61JPMorgan Chase & Co 4.95% USD 25/03/2020 1,000,000 1,056,877 2.63Lloyds TSB Bank Plc 2.8% USD 02/04/2012 1,000,000 1,022,221 2.54Lloyds TSB Bank Plc 3.375% EUR 17/03/2015 500,000 650,835 1.62Lloyds TSB Bank Plc 5.8% USD 13/01/2020 500,000 516,367 1.28Morgan Stanley 5.375% EUR 10/08/2020 500,000 652,528 1.62Morgan Stanley 5.5% USD 26/01/2020 500,000 505,028 1.26Motors Liquidation Co 8.375% USD 15/07/2033 500,000 162,500 0.40Netherlands Government Bond 4% EUR 15/07/2018 1,000,000 1,449,658 3.60Northern Rock Asset Management Plc 5.625% USD 22/06/2017 1,000,000 1,071,100 2.66Republic of Italy 5.375% USD 15/06/2033 400,000 424,946 1.06Royal Bank of Scotland FRN USD 11/04/2016 250,000 207,500 0.52Royal Bank of Scotland Plc 4.875% USD 16/03/2015 500,000 521,170 1.30Spain Government Bond 3% EUR 30/04/2015 900,000 1,134,739 2.82Spain Government Bond 3.8% EUR 31/01/2017 500,000 644,250 1.60Spain Government International Bond 2.75% USD 05/03/2012 1,000,000 1,009,510 2.51Spain Government International Bond 3.625% USD 17/06/2013 1,500,000 1,545,075 3.84UBS AG FRN USD 18/04/2016 500,000 483,958 1.20United Kingdom Gilt 3.25% GBP 07/12/2011 1,500,000 2,392,964 5.95United States Treasury Note/Bond 2.625% USD 15/08/2020 1,000,000 1,010,391 2.51United States Treasury Note/Bond 3.5% USD 15/05/2020 1,000,000 1,086,914 2.70United States Treasury Note/Bond 4.125% USD 15/05/2015 600,000 678,492 1.69United States Treasury Note/Bond 4.25% USD 15/08/2015 520,000 592,028 1.47United States Treasury Note/Bond 4.375% USD 15/11/2039 1,000,000 1,146,836 2.85United States Treasury Note/Bond 4.5% USD 15/08/2039 2,000,000 2,341,250 5.82United States Treasury Note/Bond 4.625% USD 15/02/2017 800,000 937,063 2.33United States Treasury Note/Bond 4.625% USD 15/02/2040 1,000,000 1,193,828 2.97





256 Invesco Funds





EUR %





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAbbey National Treasury Services Plc 3.375% EUR 08/06/2015 650,000 666,558 1.04Anheuser-Busch InBev NV 7.375% EUR 30/01/2013 300,000 338,222 0.53ArcelorMittal 8.25% EUR 03/06/2013 350,000 393,684 0.61Austria Government Bond 4.65% EUR 15/01/2018 1,200,000 1,399,746 2.18Autonomous Community of Valencia 3.25% EUR 06/07/2015 1,000,000 966,590 1.50AXA SA FRN GBP Perpetual 400,000 414,287 0.64Banco Santander Totta SA 3.75% EUR 12/06/2012 400,000 404,912 0.63Bank of America Corp 4.625% EUR 07/08/2017 400,000 409,708 0.64BAT International Finance Plc 5.875% EUR 12/03/2015 250,000 288,109 0.45Belgium Government Bond 4% EUR 28/03/2022 700,000 771,295 1.20Belgium Government Bond 5.5% EUR 28/09/2017 500,000 602,283 0.94BG Energy Capital Plc 3.375% EUR 15/07/2013 600,000 626,610 0.97BNP Paribas Home Loan Covered Bonds SA 2.25% EUR 01/10/2012 600,000 610,908 0.96British Telecommunications Plc 6.5% EUR 07/07/2015 200,000 226,330 0.35Bundesobligation 2.25% EUR 11/04/2014 1,500,000 1,574,505 2.45Bundesobligation 4.25% EUR 12/10/2012 2,720,000 2,928,080 4.55Bundesrepublik Deutschland 3% EUR 04/07/2020 3,050,000 3,293,878 5.12Bundesrepublik Deutschland 3.25% EUR 04/01/2020 1,340,000 1,475,796 2.29Bundesrepublik Deutschland 3.5% EUR 04/01/2016 6,120,000 6,775,911 10.53Bundesrepublik Deutschland 3.75% EUR 04/01/2015 5,000,000 5,551,575 8.63Bundesrepublik Deutschland 4.75% EUR 04/07/2040 1,510,000 2,160,742 3.36Casino Guichard Perrachon SA 4.481% EUR 12/11/2018 200,000 214,290 0.33Citigroup Inc 7.375% EUR 16/06/2014 350,000 400,103 0.62Cloverie Plc for Zurich Insurance Co FRN EUR 24/07/2039 150,000 176,921 0.28CRH Finance UK Plc 8.25% GBP 24/04/2015 300,000 426,818 0.66Czech Republic Government Bond 3.8% CZK 11/04/2015 4,500,000 190,886 0.30Enbw International Finance BV 5.875% EUR 28/02/2012 500,000 532,358 0.83Erste Group Bank AG FRN EUR 19/07/2017 300,000 267,642 0.42European Investment Bank 2.5% CHF 08/02/2019 750,000 632,181 0.98Experian Finance Plc 4.75% EUR 04/02/2020 150,000 163,694 0.25F Van Lanschot Bankiers NV 3.5% EUR 02/04/2013 500,000 504,888 0.78Finland Government Bond 4.375% EUR 04/07/2019 200,000 234,433 0.36France Government Bond OAT 3.5% EUR 25/04/2020 1,780,000 1,936,257 3.01France Government Bond OAT 4% EUR 25/10/2038 600,000 713,766 1.11G4S Plc 7.75% GBP 13/05/2019 500,000 719,085 1.12Glencore Finance Europe SA 5.25% EUR 11/10/2013 400,000 412,652 0.64HeidelbergCement Finance BV 7.625% EUR 25/01/2012 150,000 156,904 0.24HSBC Bank Plc 4% EUR 15/01/2021 600,000 634,230 0.99Infinis Plc 9.125% GBP 15/12/2014 110,000 139,045 0.22ING Bank NV 3% EUR 30/09/2014 550,000 574,163 0.89ING Bank NV 3.375% EUR 03/03/2015 400,000 412,936 0.64Intesa Sanpaolo SpA 5% EUR 23/09/2019 300,000 315,683 0.49Italy Buoni Poliennali Del Tesoro 3.75% EUR 01/08/2016 800,000 840,576 1.31Italy Buoni Poliennali Del Tesoro 3.75% EUR 01/08/2021 2,000,000 2,001,840 3.11Italy Buoni Poliennali Del Tesoro 4% EUR 01/02/2037 910,000 843,338 1.31Italy Buoni Poliennali Del Tesoro 4.25% EUR 01/02/2019 800,000 843,760 1.31MetLife Inc 5.25% GBP 29/06/2020 400,000 506,837 0.78Morgan Stanley 5.375% EUR 10/08/2020 250,000 257,271 0.40Netherlands Government Bond 4% EUR 15/07/2019 920,000 1,055,341 1.64Netherlands Government Bond 4.25% EUR 15/07/2013 500,000 548,748 0.85Norway Government Bond 6% NOK 16/05/2011 1,100,000 140,875 0.22Permanent Master Issuer Plc FRN EUR 15/07/2042 350,000 355,025 0.55Poland Government Bond 4.75% PLN 25/04/2012 2,110,000 528,811 0.82Royal Bank of Scotland Plc 6.934% EUR 09/04/2018 200,000 215,488 0.33Schiphol Nederland BV 6.625% EUR 23/01/2014 500,000 573,689 0.90Spain Government Bond 4% EUR 30/04/2020 430,000 431,062 0.67Sweden Government Bond 5.5% SEK 08/10/2012 6,320,000 732,266 1.14TMD Friction Finance SA 10.75% EUR 15/05/2017 70,000 70,000 0.11Toyota Motor Credit Corp 5.25% EUR 03/02/2012 150,000 157,781 0.25UniCredit Bank AG 6% EUR 05/02/2014 400,000 431,526 0.67United Kingdom Gilt 4.25% GBP 07/03/2036 2,800,000 3,659,953 5.69United Kingdom Gilt 4.25% GBP 07/09/2039 320,000 418,903 0.65United Kingdom Gilt 4.25% GBP 07/12/2055 1,250,000 1,673,610 2.60United Kingdom Gilt 4.75% GBP 07/03/2020 2,900,000 4,090,644 6.36

257 Invesco Funds





EUR %





258 Invesco Funds


259 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAmerican Financial Group Inc 9.875% USD 15/06/2019 150,000 148,591 0.46Anadarko Petroleum Corp 6.375% USD 15/09/2017 250,000 195,536 0.61ArcelorMittal 9% USD 15/02/2015 250,000 236,354 0.73Banco Santander Chile 2.875% USD 13/11/2012 200,000 160,024 0.50Bank of America Corp 4.625% EUR 07/08/2017 200,000 204,854 0.64BNP Paribas Home Loan Covered Bonds SA 2.25% EUR 01/10/2012 400,000 407,272 1.27Bundesobligation 2.5% EUR 08/10/2010 4,000,000 4,008,100 12.48Bundesobligation 3.5% EUR 08/04/2011 4,870,000 4,958,391 15.43Bundesobligation 4.25% EUR 12/10/2012 390,000 419,835 1.31Bundesrepublik Deutschland 3.75% EUR 04/01/2019 160,000 182,110 0.57Bundesrepublik Deutschland 4% EUR 04/01/2037 550,000 686,213 2.14Bundesrepublik Deutschland 4.25% EUR 04/07/2017 1,040,000 1,211,397 3.77Bundesschatzanweisungen 1.25% EUR 11/03/2011 8,620,000 8,657,498 26.94Canadian Government Bond 3.75% CAD 01/06/2019 1,050,000 846,129 2.63Citigroup Inc 5.375% USD 09/08/2020 250,000 199,026 0.62CNA Financial Corp 5.875% USD 15/08/2020 150,000 118,741 0.37Commerzbank AG 2.75% EUR 13/01/2012 400,000 409,854 1.27Credit Suisse 4.375% USD 05/08/2020 400,000 317,040 0.98Crown European Holdings SA 7.125% EUR 15/08/2018 100,000 102,802 0.32DIRECTV Holdings LLC 7.625% USD 15/05/2016 250,000 217,101 0.68DSG International Plc 8.75% GBP 03/08/2015 50,000 60,282 0.19Empresa Nacional del Petroleo 5.25% USD 10/08/2020 150,000 121,691 0.38Erste Group Bank AG FRN EUR 19/07/2017 300,000 267,642 0.83European Investment Bank 6.5% NZD 10/09/2014 60,000 35,450 0.11Goldman Sachs Group Inc 5.375% USD 15/03/2020 300,000 244,238 0.76HeidelbergCement Finance BV 7.625% EUR 25/01/2012 100,000 104,603 0.33HSBC Bank Plc 4.125% USD 12/08/2020 300,000 239,495 0.74Infinis Plc 9.125% GBP 15/12/2014 75,000 94,803 0.30ING Bank NV 3% EUR 30/09/2014 350,000 365,377 1.13Japanese Government CPI Linked Bond 1.4% JPY 10/06/2018 239,200,000 2,170,125 6.76Kabel Deutschland GmbH 10.75% EUR 01/07/2014 150,000 157,082 0.49Macquarie Group Ltd 4.875% USD 10/08/2017 250,000 198,826 0.62MetLife Inc 5.875% USD 06/02/2041 100,000 85,435 0.27Moody's Corp 5.5% USD 01/09/2020 250,000 200,356 0.62Polypore Inc 8.75% EUR 15/05/2012 150,000 150,754 0.47Seat Pagine Gialle SpA 10.5% EUR 31/01/2017 75,000 70,481 0.22TMD Friction Finance SA 10.75% EUR 15/05/2017 50,000 50,000 0.16UBS AG 2.25% USD 12/08/2013 250,000 198,083 0.62United Kingdom Gilt 3.75% GBP 07/09/2019 1,110,000 1,454,692 4.53United States of America Treasury Bonds 4.25% USD 15/05/2039 1,030,000 913,305 2.84


TOTAL OTHER TRANSFERABLE SECURITIES/TOTALE ALTRI VALORI MOBILIARI/TOTAL OTROS VALORES NEGOCIABLES/TOTAL DEOUTROS VALORES NEGOCIÁVEIS 30,869,588 96.09

OTHER TRANSERABLE ALTRI VALORI MOBILIARI OTROS VALORES DE OUTROS VALORES NEGOCIÁVEISSECURITIES NEGOCIABLESBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASRockwood Specialties Group Inc 7.625% EUR 15/11/2014 150,000 153,750 0.48Volkswagen International Finance NV 4% USD 12/08/2020 150,000 122,003 0.38



Total Totale Total Total doInvestments Investimenti Inversiones Investimentos 31,145,341 96.95


Invesco Absolute Return Bond Fund



EUR %


260 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASA2A SpA 4.5% EUR 02/11/2016 3,500,000 3,710,508 0.22

Abbey National Treasury Services Plc 3.125% EUR 30/06/2014 15,000,000 15,293,820 0.90

ABN Amro Bank NV FRN EUR Perpetual 11,000,000 7,507,610 0.44

AGCO Corp 6.875% EUR 15/04/2014 2,727,000 2,767,905 0.16

Ally Financial Inc 5.75% USD 27/09/2010 44,000 34,913 –

Alstom SA 4% EUR 23/09/2014 1,000,000 1,064,215 0.06

America Movil SAB de CV 3.75% EUR 28/06/2017 10,000,000 10,470,300 0.62



Angel Lux Common SA FRN EUR 01/05/2016 1,306,363 1,311,660 0.08

Anglo American Capital Plc 4.25% EUR 30/09/2013 4,000,000 4,221,420 0.25

Anheuser-Busch InBev NV 4% EUR 26/04/2018 7,000,000 7,532,945 0.44

AP Moller - Maersk A/S 4.875% EUR 30/10/2014 4,000,000 4,303,980 0.25

Areva SA 3.875% EUR 23/09/2016 2,000,000 2,130,620 0.13

Areva SA 4.375% EUR 06/11/2019 3,000,000 3,285,525 0.19

ASML Holding NV 5.75% EUR 13/06/2017 8,500,000 9,070,563 0.53

Assicurazioni Generali SpA 5.125% EUR 16/09/2024 2,500,000 2,742,638 0.16

Australia & New Zealand Banking Group Ltd 3.75% EUR 10/03/2017 18,000,000 19,038,600 1.12

Autoroutes du Sud de la France 4.125% EUR 13/04/2020 4,000,000 4,284,320 0.25

Aviva Plc FRN EUR Perpetual 5,500,000 4,347,888 0.26

AXA SA FRN EUR 16/04/2040 5,000,000 4,979,625 0.29

Bank of America Corp 4% EUR 23/03/2015 5,300,000 5,460,935 0.32




Bank of Scotland Plc FRN EUR 07/02/2035 12,000,000 8,415,000 0.49

Banque PSA Finance 3.625% EUR 29/04/2014 5,000,000 5,043,000 0.30



Barclays Bank Plc 4% EUR 20/01/2017 10,000,000 10,538,800 0.62

Barclays Bank Plc FRN EUR Perpetual 52,000,000 34,669,439 2.05

Barclays Bank Plc 4.875% EUR 13/08/2019 5,000,000 5,520,625 0.32

BAT International Finance Plc 4.875% EUR 24/02/2021 3,000,000 3,418,740 0.20

Bayer AG FRN EUR 29/07/2105 31,981,000 31,587,154 1.86

BBVA Senior Finance SAU 3.25% EUR 23/04/2015 30,000,000 29,865,750 1.75

BNP Paribas FRN EUR Perpetual 19,850,000 20,604,300 1.21

BNP Paribas Capital Trust III FRN EUR Perpetual 5,000,000 4,983,950 0.29

Bombardier Inc FRN EUR 15/11/2013 392,000 392,000 0.02

Bouygues SA 4% EUR 12/02/2018 2,500,000 2,688,625 0.16

BPCE SA FRN EUR Perpetual 15,500,000 15,422,500 0.91

Bradford & Bingley Plc FRN EUR 20/09/2011 3,550,000 3,489,828 0.21

British American Tobacco Holdings 4.375% EUR 15/09/2014 2,000,000 2,169,340 0.13



Bundesrepublik Deutschland 3% EUR 04/07/2020 30,000,000 32,398,800 1.90

C10-EUR Capital SPV Ltd FRN EUR Perpetual 14,400,000 8,640,000 0.51

Caisse Centrale du Credit Immobilier de France 3.75% EUR 22/01/2015 5,000,000 5,193,050 0.31

Carrefour SA 4% EUR 09/04/2020 6,000,000 6,491,790 0.38

Cattles Plc 7.125% GBP 05/07/2017 400,000 46,244 –

CDP Financial Inc 3.5% EUR 23/06/2020 41,950,000 41,950,000 2.47

Celesio Finance B.V. 4.5% EUR 26/04/2017 8,000,000 7,990,320 0.47

Cemex Finance Europe BV 4.75% EUR 05/03/2014 2,000,000 1,684,980 0.10

CIBC World Markets Plc FRN EUR 22/06/2017 2,500,000 2,318,750 0.14

Citigroup Inc FRN EUR 25/02/2030 3,000,000 2,382,885 0.14

Citigroup Inc 7.375% EUR 04/09/2019 2,000,000 2,358,360 0.14

CL Capital Trust I FRN EUR Perpetual 20,560,000 19,435,675 1.14

Coca-Cola HBC Finance BV 4.25% EUR 16/11/2016 4,000,000 4,295,290 0.25

Cognis GmbH FRN EUR 15/09/2013 20,000,000 19,880,900 1.17




EUR %


261 Invesco Funds

Commonwealth Bank of Australia 5.5% EUR 06/08/2019 2,000,000 2,285,050 0.13

Co-Operative Bank Plc FRN EUR 18/05/2016 4,000,000 2,960,000 0.17

Credit Agricole SA FRN EUR Perpetual 6,700,000 6,847,166 0.40

Crown European Holdings SA 7.125% EUR 15/08/2018 3,000,000 3,084,054 0.19

Danske Bank A/S FRN EUR 18/08/2014 2,000,000 2,038,130 0.12

Deutsche Bank AG FRN EUR 22/09/2015 12,751,000 12,057,970 0.71

Deutsche Bank AG FRN EUR 20/09/2016 500,000 464,584 0.03

Deutsche Bank Capital Funding Trust XI 9.5% EUR Perpetual 7,000,000 7,654,290 0.45




DONG Energy A/S 4.875% EUR 16/12/2021 3,000,000 3,392,325 0.20

EADS Finance BV 4.625% EUR 12/08/2016 4,000,000 4,366,960 0.26

EDF SA 4.625% EUR 26/04/2030 20,000,000 22,024,000 1.30

Edison SpA 4.25% EUR 22/07/2014 2,000,000 2,123,440 0.12

Enagas 3.25% EUR 06/07/2012 2,500,000 2,559,813 0.15

Enbw International Finance BV 4.125% EUR 07/07/2015 1,000,000 1,089,075 0.06

FCE Bank Plc 9.375% EUR 17/01/2014 3,000,000 3,285,000 0.19

Fiat Finance & Trade SA 6.875% EUR 13/02/2015 2,000,000 2,088,510 0.12

Fortis Bank SA/NV FRN EUR 14/02/2018 8,940,000 8,253,855 0.49

France Telecom SA 3.875% EUR 09/04/2020 15,000,000 16,146,000 0.95

Galeries Lafayette SA 4.5% EUR 28/04/2017 20,000,000 19,986,000 1.18



GE Capital European Funding 4.25% EUR 01/03/2017 6,000,000 6,406,710 0.38



GMAC International Finance BV 7.5% EUR 21/04/2015 13,000,000 12,949,885 0.77

Governor & Co of the Bank of Ireland 10% EUR 12/02/2020 5,000,000 5,164,250 0.30

Groupe des Assurances Mutuelles Agricoles FRN EUR Perpetual 5,000,000 3,580,475 0.21

Groupe des Assurances Mutuelles Agricoles FRN EUR 27/10/2039 10,000,000 9,883,950 0.58

HBOS Plc 4.875% EUR 20/03/2015 1,500,000 1,477,298 0.09

Hertz Holdings Netherlands BV 8.5% EUR 31/07/2015 3,500,000 3,666,250 0.22

HSBC Bank Plc FRN EUR 18/03/2016 1,000,000 1,007,672 0.06



Hutchison Whampoa Finance 09 Ltd 4.75% EUR 14/11/2016 8,000,000 8,588,160 0.50

Iberdrola Finanzas SAU 4.125% EUR 23/03/2020 4,500,000 4,706,685 0.28

ING Groep NV FRN EUR Perpetual 2,000,000 1,540,000 0.09

ING Verzekeringen NV 0% EUR 31/05/2011 13,000,000 12,757,615 0.75

International Power Finance 2010 Plc 7.25% EUR 11/05/2017 5,000,000 5,925,000 0.35

Intesa Sanpaolo SpA 5% EUR 23/09/2019 2,500,000 2,630,688 0.15

Intesa Sanpaolo SpA FRN EUR Perpetual 4,000,000 3,918,739 0.24

Iron Mountain Inc 6.75% EUR 15/10/2018 5,600,000 5,460,000 0.32

JPMorgan Chase & Co 0% EUR 31/01/2014 2,800,000 2,585,296 0.15


Koninklijke KPN NV 5.625% EUR 30/09/2024 7,000,000 8,250,865 0.49

Lagardere SCA 4.875% EUR 06/10/2014 28,500,000 28,965,832 1.70

LBG Capital No.1 Plc 6.439% EUR 23/05/2020 60,310,000 50,358,849 2.97

Legrand France SA 8.5% USD 15/02/2025 3,000,000 2,949,361 0.17




Lottomatica SpA 5.375% EUR 05/12/2016 9,000,000 9,557,505 0.56



Merrill Lynch & Co Inc FRN EUR 14/09/2018 5,000,000 4,058,440 0.24

Merrill Lynch SA FRN EUR 29/09/2010 100,000 99,945 0.01


Morgan Stanley 4.5% EUR 29/10/2014 3,500,000 3,640,263 0.21

Motors Liquidation Co 8.375% EUR 05/07/2033 5,900,000 2,006,000 0.12

National Australia Bank Ltd FRN EUR 07/04/2016 7,000,000 6,912,500 0.41



Nationwide Building Society FRN EUR 22/12/2016 5,000,000 4,532,500 0.27

Nationwide Building Society 3.75% EUR 20/01/2015 8,000,000 8,216,200 0.48

Natixis FRN EUR 26/01/2017 3,000,000 2,794,122 0.16




EUR %


262 Invesco Funds

Neste Oil OYJ 4.875% EUR 06/07/2015 10,000,000 10,573,965 0.62



Pernod-Ricard SA 4.875% EUR 18/03/2016 9,000,000 9,336,771 0.55

Polypore Inc 8.75% EUR 15/05/2012 2,400,000 2,412,060 0.14

Portugal Telecom International Finance BV 5% EUR 04/11/2019 6,000,000 6,063,660 0.36

Prysmian SpA 5.25% EUR 09/04/2015 6,900,000 7,039,725 0.41

Rabobank Nederland NV 4.375% EUR 05/05/2016 3,000,000 3,305,595 0.19

Rhodia SA FRN EUR 15/10/2013 11,216,000 10,991,680 0.65

Rhodia SA 7% EUR 15/05/2018 7,000,000 7,183,750 0.42


Royal Bank of Scotland Plc FRN EUR 28/01/2016 1,000,000 890,525 0.05




SABMiller Plc 4.5% EUR 20/01/2015 2,000,000 2,167,790 0.13

Sanofi-Aventis SA 4.125% EUR 11/10/2019 4,000,000 4,401,220 0.26

SAP AG 2.5% EUR 10/04/2014 6,000,000 6,093,240 0.36

SAP AG 3.5% EUR 10/04/2017 5,000,000 5,158,375 0.30

Schneider Electric SA 2.875% EUR 20/07/2016 2,000,000 2,082,180 0.12

SG Capital Trust III FRN EUR Perpetual 8,000,000 6,948,560 0.41

Siemens Financieringsmaatschappij NV FRN EUR 14/09/2066 10,400,000 10,903,360 0.64

Skandinaviska Enskilda Banken AB FRN EUR 28/09/2017 3,000,000 2,880,000 0.17

Smiths Group Plc 4.125% EUR 05/05/2017 15,000,000 15,381,150 0.90



Societe Nationale des Chemins de Fer Francais 4.125% EUR 19/02/2025 12,000,000 13,637,520 0.80

Standard Chartered Bank FRN EUR 03/02/2017 1,000,000 1,003,580 0.06

Standard Chartered Plc 3.625% EUR 15/12/2015 10,000,000 10,386,550 0.61


Suez Environnement Co 4.125% EUR 24/06/2022 5,000,000 5,431,675 0.32

Telecom Italia SpA 5.25% EUR 10/02/2022 10,000,000 10,434,650 0.62



Telenor ASA 4.125% EUR 26/03/2020 3,000,000 3,276,105 0.19

TeliaSonera AB 4.75% EUR 16/11/2021 2,500,000 2,847,688 0.17

Telstra Corp Ltd 4.25% EUR 23/03/2020 8,000,000 8,741,200 0.51

TenneT Holding BV FRN EUR Perpetual 10,000,000 10,674,950 0.63

UBS AG FRN EUR Perpetual 1,000,000 822,500 0.05

UBS AG FRN EUR Perpetual 6,200,000 6,045,000 0.35

UBS Capital Securities Jersey Ltd FRN EUR Perpetual 11,850,000 12,205,500 0.72

UniCredit International Bank Luxembourg SA FRN EUR Perpetual 10,000,000 9,812,501 0.57

Unitymedia Hessen GmbH & Co KG 8.125% EUR 01/12/2017 10,000,000 10,279,950 0.60

Vale SA 4.375% EUR 24/03/2018 15,000,000 15,819,975 0.93

Veolia Environnement 4.247% EUR 06/01/2021 7,000,000 7,554,750 0.44

Vivendi SA 4% EUR 31/03/2017 7,000,000 7,358,785 0.43

Wal-Mart Stores Inc 4.875% EUR 21/09/2029 20,000,000 23,847,800 1.40

Wesfarmers Ltd 3.875% EUR 10/07/2015 10,000,000 10,584,300 0.62

Westpac Securities NZ Ltd 3.875% EUR 20/03/2017 9,000,000 9,409,320 0.55

Ziggo Bond Co BV 8% EUR 15/05/2018 3,000,000 3,060,000 0.18

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES1,488,173,364 87.50


OTHER TRANSERABLE ALTRI VALORI MOBILIARI OTROS VALORES DE OUTROS VALORES NEGOCIÁVEISSECURITIES NEGOCIABLESBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAlly Financial Inc 7% USD Perpetual 9 5,860 –

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES 5,860 –




EUR %


263 Invesco Funds

TOTAL OTHER TRANSFERABLE SECURITIES/TOTALE ALTRI VALORI MOBILIARI/TOTAL OTROS VALORES NEGOCIABLES/TOTAL DEOUTROS VALORES NEGOCIÁVEIS

5,860 –






EUR %


264 Invesco Funds

Invesco Euro Inflation-Linked Bond Fund






BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASBundesobligation Inflation Linked 2.25% EUR 15/04/2013 4,580,000 5,221,198 6.32

Caisse d'Amortissement de la Dette Sociale Idx Lkd 1.85% EUR 25/07/2019 2,750,000 3,328,697 4.03

Caisse d'Amortissement de la Dette Sociale Idx Lkd 3.15% EUR 25/07/2013 2,730,000 3,602,419 4.36










Reseau Ferre de France Idx Lkd 2.45% EUR 28/02/2023 2,800,000 3,608,938 4.37

United Kingdom Gilt Inflation Linked 1.875% GBP 22/11/2022 1,880,000 2,860,280 3.46

Veolia Environnement Idx Lkd 1.75% EUR 17/06/2015 1,000,000 1,105,647 1.34






EUR %


265 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAnglo American Capital Plc 9.375% USD 08/04/2014 200,000 156,516 0.23

Anheuser-Busch InBev Worldwide Inc 6.875% USD 15/11/2019 350,000 276,143 0.41

ArcelorMittal 9% USD 15/02/2015 450,000 349,592 0.52



Barclays Bank Plc 5.75% GBP 17/08/2021 500,000 549,739 0.82




BSKYB Finance UK Plc 5.75% GBP 20/10/2017 400,000 454,151 0.68

Cloverie Plc for Zurich Insurance Co FRN EUR 24/07/2039 200,000 193,840 0.29


Compass Group Plc 7% GBP 08/12/2014 350,000 408,445 0.61


CRH Finance UK Plc 8.25% GBP 24/04/2015 350,000 409,182 0.61

Crown European Holdings SA 7.125% EUR 15/08/2018 150,000 126,712 0.19

DIRECTV Holdings LLC 7.625% USD 15/05/2016 450,000 321,115 0.48

DONG Energy A/S 5.75% GBP 09/04/2040 400,000 445,607 0.66

DSG International Plc 8.75% GBP 03/08/2015 50,000 49,535 0.07


EDF SA 6.25% GBP 30/05/2028 400,000 477,632 0.71


European Bank for Reconstruction & Development 5.625% GBP 07/12/2028 500,000 616,739 0.92

European Investment Bank 6% GBP 07/12/2028 1,350,000 1,739,235 2.59



G4S Plc 7.75% GBP 13/05/2019 500,000 590,891 0.88

GE Capital UK Funding 5.875% GBP 04/11/2020 650,000 719,760 1.07

GE Capital UK Funding 8% GBP 14/01/2039 250,000 347,995 0.52




HSBC Bank Plc 4.125% USD 12/08/2020 280,000 183,680 0.27


HSBC Holdings Plc 7% GBP 07/04/2038 450,000 540,436 0.81

Infinis Plc 9.125% GBP 15/12/2014 75,000 77,903 0.12

Iron Mountain Inc 7.25% GBP 15/04/2014 200,000 199,500 0.30


Kreditanstalt für Wiederaufbau 5.5% GBP 07/12/2015 800,000 933,741 1.39

Kreditanstalt für Wiederaufbau 5.55% GBP 07/06/2021 1,600,000 1,938,771 2.89

Man Group Plc 5% USD 09/08/2017 400,000 216,484 0.32

Merrill Lynch & Co Inc 7.75% GBP 30/04/2018 500,000 584,668 0.86

MetLife Inc 5.25% GBP 29/06/2020 500,000 520,603 0.77

Morgan Stanley 5.125% GBP 30/11/2015 500,000 520,390 0.78


National Grid Plc 6.125% GBP 15/04/2014 300,000 334,163 0.50




Polypore Inc 8.75% EUR 15/05/2012 550,000 454,221 0.68


Rabobank Capital Funding Trust IV FRN GBP Perpetual 450,000 403,767 0.60

Royal Bank of Scotland Plc 4.875% USD 16/03/2015 380,000 256,651 0.38

Seat Pagine Gialle SpA 10.5% EUR 31/01/2017 175,000 135,138 0.20



Temasek Financial I Ltd 4.625% GBP 26/07/2022 300,000 332,419 0.50

TMD Friction Finance SA 10.75% EUR 15/05/2017 90,000 73,955 0.11







GBP %


266 Invesco Funds



United Kingdom Gilt 4.25% GBP 07/12/2055 600,000 660,120 0.98










OTHER TRANSFERABLE SONSTIGE ÜBERTRAGBARE AUTRES VALEURS ANDRE OMSETTELIGESECURITIES WERTPAPIERE MOBILIERES VERDIPAPIRERBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASRockwood Specialties Group Inc 7.625% EUR 15/11/2014 550,000 463,248 0.69Volkswagen International Finance NV 4% USD 12/08/2020 500,000 334,176 0.50








GBP %


267 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAfrican Development Bank 12.5% ZMK 22/12/2011 9,220,000,000 1,950,551 0.40

Argentina Bonos 10.5% ARS 12/06/2012 31,025,000 7,256,320 1.50

Barclays Bank Plc 10% IDR 17/02/2028 80,000,000,000 9,584,947 1.98





Centercredit 8.25% KZT 30/09/2011 294,000,000 2,034,602 0.42

Colombia Government International Bond 7.75% COP 14/04/2021 23,733,000,000 14,795,827 3.06

Colombia Government International Bond 12% COP 22/10/2015 13,650,000,000 9,830,868 2.03

Egypt Government International Bond 8.75% EGP 18/07/2012 19,500,000 3,433,071 0.71

Emirate of Dubai FRN AED 23/04/2013 3,500,000 850,529 0.18

European Bank for Reconstruction & Development 9.25% BRL 10/09/2012 9,000,000 5,203,041 1.07

European Investment Bank 11.25% BRL 14/02/2013 6,070,000 3,669,347 0.76

Hungary Government Bond 6.75% HUF 24/02/2017 1,300,000,000 5,534,036 1.14

Hungary Government Bond 8% HUF 12/02/2015 2,774,800,000 12,818,127 2.66

JPMorgan Chase 10.25% EUR 19/07/2027 5,001,380 5,264,953 1.09









Mexican Bonos 8.5% MXN 13/12/2018 180,000,000 15,743,471 3.26






Poland Government Bond 5% PLN 24/10/2013 41,500,000 13,187,334 2.73




Republic of Colombia 9.85% COP 28/06/2027 9,960,000,000 7,449,369 1.54

Russian Agricultural Bank OJSC Via RSHB Capital SA 7.5% RUB 25/03/2013 579,300,000 18,804,691 3.90









Turkey Government Bond 10.5% TRY 15/01/2020 22,740,000 16,396,830 3.40




Uruguay Government International Bond 5% UYU 14/09/2018 92,390,000 6,687,354 1.38






USD %


268 Invesco Funds

OTHER TRANSERABLE ALTRI VALORI MOBILIARI OTROS VALORES DE OUTROS VALORES NEGOCIÁVEISSECURITIES NEGOCIABLESBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASBarclays (Indonesia) 10.5% IDR 19/08/2030 57,500,000,000 7,076,923 1.46Barclays Bank Plc Cln FRN USD 17/10/2014 3,600,000 4,468,860 0.92ING Americas Issuance Bv 20% UAH 12/09/2012 30,000,000 4,285,421 0.89ING Bank NV 15% UAH 18/04/2011 20,000,000 2,510,142 0.52JPMorgan Chase Indonesian Government Linked Notes 9.5% IDR 18/07/2023 41,000,000,000 4,888,688 1.01JPMorgan Chase Indonesian Government Linked Notes 10% USD 17/09/2024 1,788,662 2,344,936 0.48JPMorgan Chase Indonesian Government Linked Notes 11% USD 17/09/2025 3,971,920 4,531,166 0.94Standard Chart Bank 19% USD 14/01/2013 2,249,538 2,156,632 0.45








USD %


269 Invesco Funds





BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAbertis Infraestructuras SA 4.625% EUR 14/10/2016 100,000 125,193 0.78

Advance Auto Parts Inc 5.75% USD 01/05/2020 150,000 161,325 1.00

Aetna Inc 3.95% USD 01/09/2020 150,000 148,346 0.92

Aflac Inc 6.9% USD 17/12/2039 50,000 55,175 0.34

America Movil SAB de CV 4.75% EUR 28/06/2022 100,000 138,262 0.87

American Tower Corp 4.625% USD 01/04/2015 100,000 106,309 0.66

Anheuser-Busch Cos Inc 5.6% USD 01/03/2017 100,000 113,535 0.71

ArcelorMittal 3.75% USD 05/08/2015 100,000 99,336 0.62

ArcelorMittal 8.25% EUR 03/06/2013 100,000 142,645 0.89

Areva SA 3.875% EUR 23/09/2016 100,000 135,099 0.84

AutoZone Inc 5.75% USD 15/01/2015 200,000 222,662 1.38

Avnet Inc 5.875% USD 15/06/2020 100,000 105,158 0.66



Bank of China Hong Kong Ltd 5.55% USD 11/02/2020 100,000 105,250 0.66

Barclays Bank Plc 5% USD 22/09/2016 100,000 108,368 0.68

Barclays Bank Plc 5.125% USD 08/01/2020 100,000 106,189 0.66


BG Energy Capital Plc 3.375% EUR 15/07/2013 100,000 132,441 0.83

BMW Finance NV 4% EUR 17/09/2014 50,000 67,692 0.42


Boston Properties LP 5.875% USD 15/10/2019 50,000 55,702 0.35

Boston Scientific Corp 4.5% USD 15/01/2015 100,000 101,721 0.63


British Telecommunications Plc 6.5% EUR 07/07/2015 50,000 71,756 0.45

Casino Guichard Perrachon SA 4.481% EUR 12/11/2018 100,000 135,878 0.85

CBS Corp 5.75% USD 15/04/2020 200,000 221,558 1.38



Citigroup Inc 7.375% EUR 04/09/2019 100,000 149,540 0.93


Comcast Corp 6.4% USD 01/03/2040 100,000 113,815 0.71

COX Communications Inc 5.45% USD 15/12/2014 200,000 225,020 1.40

Credit Suisse 4.375% USD 05/08/2020 250,000 251,288 1.56


CVS Caremark Corp 6.125% USD 15/08/2016 100,000 117,496 0.73

Danske Bank A/S FRN EUR 18/08/2014 100,000 129,235 0.81

Discovery Communications LLC 6.35% USD 01/06/2040 150,000 168,433 1.05


Elsevier Finance SA Via ELM BV 6.5% EUR 02/04/2013 100,000 141,176 0.88

Empresa Nacional del Petroleo 5.25% USD 10/08/2020 150,000 154,325 0.96

Enbw International Finance BV 5.875% EUR 28/02/2012 100,000 135,023 0.85

Enel Finance International SA 5.75% GBP 14/09/2040 75,000 122,138 0.76

Enterprise Products Operating LLC 6.45% USD 01/09/2040 100,000 111,420 0.69


Expedia Inc 5.95% USD 15/08/2020 150,000 153,938 0.96



France Telecom SA 5.25% EUR 22/05/2014 100,000 141,797 0.88

G4S Plc 7.75% GBP 13/05/2019 50,000 91,192 0.57

GDF Suez 6.375% EUR 18/01/2021 50,000 81,741 0.51



General Electric Capital Corp 6% USD 07/08/2019 50,000 56,211 0.35

General Electric Co 5.25% USD 06/12/2017 80,000 89,918 0.56

Genworth Financial Inc 7.7% USD 15/06/2020 50,000 51,827 0.32




Grupo Bimbo SAB de CV 4.875% USD 30/06/2020 100,000 104,291 0.65

Healthcare Realty Trust Inc 6.5% USD 17/01/2017 50,000 53,975 0.34

Holcim US Finance Sarl & Cie SCS 6% USD 30/12/2019 100,000 107,548 0.67




USD %


270 Invesco Funds




USD %


Hutchison Whampoa International Ltd 4.625% USD 11/09/2015 100,000 105,270 0.66

Imperial Tobacco Finance Plc 8.375% EUR 17/02/2016 100,000 160,713 1.01

International Paper Co 7.5% USD 15/08/2021 100,000 119,343 0.74



JPMorgan Chase & Co FRN USD Perpetual 50,000 52,717 0.33

Kroger Co 5% USD 15/04/2013 100,000 108,277 0.67

Lloyds TSB Bank Plc 6.5% EUR 24/03/2020 100,000 131,775 0.82

Macquarie Group Ltd 4.875% USD 10/08/2017 150,000 151,287 0.94

Man Group Plc 5% USD 09/08/2017 100,000 83,525 0.52

Marsh & McLennan Cos Inc 5.375% USD 15/07/2014 100,000 107,038 0.67

Massachusetts Electric Co 5.9% USD 15/11/2039 100,000 116,596 0.73

Merrill Lynch & Co Inc 6.11% USD 29/01/2037 100,000 98,842 0.62

MetLife Inc 2.375% USD 06/02/2014 100,000 100,372 0.63

MetLife Inc 6.75% USD 01/06/2016 150,000 177,869 1.10

Moody's Corp 5.5% USD 01/09/2020 100,000 101,634 0.63




National Rural Utilities Cooperative Finance Corp 10.375% USD 01/11/2018 100,000 143,413 0.89


Newmont Mining Corp 6.25% USD 01/10/2039 150,000 170,800 1.07


OTE Plc 3.75% EUR 11/11/2011 50,000 62,795 0.39

Pacific Gas & Electric Co 5.8% USD 01/03/2037 150,000 171,547 1.07

Petrobras International Finance Co 6.875% USD 20/01/2040 100,000 111,140 0.69

Petroleos Mexicanos 4.875% USD 15/03/2015 50,000 53,625 0.33

PNC Funding Corp 4.375% USD 11/08/2020 150,000 152,180 0.95

Prudential Financial Inc 2.75% USD 14/01/2013 200,000 203,053 1.26

Qatari Diar Finance QSC 3.5% USD 21/07/2015 100,000 101,950 0.64



Russian Foreign Bond - Eurobond 3.625% USD 29/04/2015 100,000 99,535 0.62

RWE Finance BV 6.125% EUR 26/10/2012 50,000 69,453 0.43

Safeway Inc 3.95% USD 15/08/2020 150,000 152,655 0.96

Santander Issuances S.A Unipersonal FRN GBP 27/07/2019 50,000 83,027 0.52

Schwab Capital Trust I FRN USD 15/11/2037 100,000 101,427 0.63

Shell International Finance BV 3% EUR 14/05/2013 50,000 66,081 0.41


Spectra Energy Capital LLC 5.668% USD 15/08/2014 150,000 166,913 1.05

Staples Inc 7.75% USD 01/04/2011 100,000 103,814 0.65

State Street Capital Trust III FRN USD Perpetual 60,000 61,475 0.38



Tesco Plc 5.625% EUR 12/09/2012 100,000 137,040 0.85

Time Warner Cable Inc 6.75% USD 15/06/2039 50,000 58,304 0.36

UBS AG 2.25% USD 12/08/2013 250,000 251,202 1.57

UniCredit Bank AG 6% EUR 05/02/2014 100,000 136,812 0.85

Union Pacific Corp 4% USD 01/02/2021 150,000 156,397 0.97

USB Capital XIII Trust 6.625% USD 15/12/2039 70,000 76,663 0.48

Vattenfall AB 5.25% EUR 17/03/2016 100,000 145,877 0.91

Veolia Environnement 4% EUR 12/02/2016 100,000 136,662 0.85

Wal-Mart Stores Inc 5.625% USD 01/04/2040 100,000 114,962 0.72

WellPoint Inc 5.8% USD 15/08/2040 100,000 106,134 0.66



Westpac Banking Corp 2.1% USD 02/08/2013 150,000 151,319 0.94

Xerox Corp 4.25% USD 15/02/2015 50,000 53,189 0.33

Xerox Corp 6.875% USD 15/08/2011 100,000 105,040 0.66



271 Invesco Funds


OTHER TRANSERABLE ALTRI VALORI MOBILIARI OTROS VALORES DE OUTROS VALORES NEGOCIÁVEISSECURITIES NEGOCIABLESBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAflac Inc 3.45% USD 15/08/2015 150,000 154,048 0.96Continental Airlines 2009-2 Class A Pass Through Trust 7.25% USD 10/11/2019 50,000 54,500 0.34DCP Midstream LLC 8.125% USD 16/08/2030 100,000 127,512 0.79Digital Realty Trust LP 5.875% USD 01/02/2020 100,000 106,041 0.66Life Technologies Corp 3.375% USD 01/03/2013 100,000 102,899 0.64Municipal Elec Auth Ga 6.637% USD 01/04/2057 100,000 105,402 0.66Sara Lee Corp 4.1% USD 15/09/2020 145,000 145,937 0.91








USD %


Invesco Global Unconstrained Bond Fund






BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAES Corp 8.375% GBP 01/03/2011 100,000 101,500 4.39

Anglo American Capital Plc 5.125% GBP 15/12/2010 100,000 100,800 4.36

ASIF III Jersey Ltd FRN ITL 09/04/2018 100,000,000 46,259 2.00

Avis Finance Co Plc FRN EUR 31/07/2013 50,000 38,621 1.67


Bundesobligation 3.5% EUR 08/04/2011 250,000 209,160 9.04

Cognis GmbH FRN EUR 15/09/2013 100,000 81,683 3.53

Hanson Ltd 7.875% USD 27/09/2010 100,000 64,796 2.80


Instituto de Credito Oficial 5% USD 23/02/2011 100,000 65,630 2.84

Iron Mountain Inc 6.75% EUR 15/10/2018 50,000 40,059 1.73

Italy Buoni Poliennali Del Tesoro 2% EUR 01/06/2013 400,000 327,746 14.17


National Westminster Bank Plc 11.5% GBP Perpetual 100,000 114,005 4.92

Northern Rock Asset Management Plc FRN USD 21/10/2010 100,000 64,447 2.79

Old Mutual Capital Funding LP 8% USD Perpetual 150,000 94,935 4.10


Santander UK Plc 6.25% GBP 27/09/2010 100,000 100,350 4.34

SLM Corp FRN EUR 26/04/2011 100,000 79,502 3.44

SMFG Preferred Capital FRN GBP Perpetual 50,000 56,718 2.45



Xenon Capital Plc FRN CHF 20/12/2011 100,000 56,008 2.42





Investment Nominal/Shares Market Value Net AssetsInvestimento Valore Nominale/Numero di Azioni Valore di Mercato Attivo NettoInversiones Nominal/Acciones Valor de mercado Patrimonio NetoInvestimento Nominal/Acções Valor de Mercado Situação Líquidar

GBP %

272 Invesco Funds


273 Invesco Funds

Invesco Capital Shield 90 (EUR) Fund






BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAlliance and Leicester FRN EUR Perpetual 10,000,000 10,000,000 3.81



ETFS Agriculture DJ-UBSCI 1,381,448 7,354,296 2.80



UBS ETC WTI Crude Oil - USD 4,089 3,606,413 1.37

TOTAL STRUCTURED TOTALE PRODOTTI TOTAL DE PRODUTOS TOTAL PRODUCTOS ESTRUCTURADOSPRODUCTS STRUTTURATI ESTRUTURADOS 29,306,677 11.16


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 20 DECEMBER 2002/STRUMENTI DELMERCATO MONETARIO IDONEI AI SENSI DELL’ARTICOLO 41.1H DELLA LEGGE DEL 20 DICEMBRE 2002/INSTRUMENTOS DELMERCADO MONETARIO QUE CUMPLEN CON LOS REQUISITOS DEL ARTÍCULO 41.1H DE LA LEY DE 20 DE DICIEMBRE DE2002/INSTRUMENTOS DO MERCADO MONETÁRIO ELEGÍVEIS AO ABRIGO DO ARTIGO 41.1H DA LEI DE 20 DE DEZEMBRO DE 2002Bank of Western Australia C/P EUR 15/09/2010 10,000,000 9,998,112 3.81Cancara Asset Securitisation C/P EUR 27/09/2010 10,000,000 9,996,052 3.81Fortis Bank C/D EUR 01/09/2010 10,000,000 9,999,865 3.81Fortis Bank C/D EUR 04/01/2011 14,000,000 13,969,200 5.32Grampian Funding C/P EUR 29/10/2010 10,000,000 9,989,419 3.80Lexington Parker Capital C/P EUR 07/09/2010 10,000,000 9,999,273 3.81LMA C/P EUR 20/09/2010 7,500,000 7,497,978 2.86Mont Blanc Capital C/P EUR 08/09/2010 8,000,000 7,999,301 3.05Nordea Bank C/P EUR 08/10/2010 7,500,000 7,495,456 2.85Societe Generale C/P EUR 06/09/2010 10,000,000 9,999,413 3.80


96,944,069 36.92



TOTAL OPEN- TOTALE FONDI APERTI TOTAL DE FONDOS DE TOTAL DE FUNDOS DE INVESTIMENTOENDED FUNDS INVERSION ABIERTOS ABERTO 25,000,000 9.52




EUR %


274 Invesco Funds








AUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAAdelaide Brighton Ltd 1,168,643 3,407,471 1.05

AMP Ltd 651,400 2,920,023 0.91

ASX Ltd 117,500 3,047,838 0.94

Crane Group Ltd 428,329 3,062,189 0.95

GUD Holdings Ltd 384,740 3,305,474 1.03

Healthscope Ltd 724,000 3,967,396 1.24

Metcash Ltd 776,100 3,029,886 0.94


QBE Insurance Group Ltd 191,934 2,818,664 0.88

Sonic Healthcare Ltd 328,843 3,230,725 1.00

Spotless Group Ltd 1,466,078 2,636,620 0.82

Telstra Corp Ltd 1,064,087 2,609,984 0.81

UGL Ltd 249,543 3,202,573 1.00


44,002,236 13.68

CHINA CHINA CHINE KINADalian Port PDA Co Ltd 7,038,000 2,767,934 0.86



8,714,312 2.71

MALAYSIA MALESIA MALASIA MALÁSIALafarge Malayan Cement Bhd 910,000 2,108,156 0.66

Petronas Gas Bhd 949,000 3,172,259 0.98

PLUS Expressways Bhd 2,746,500 3,662,705 1.14


11,993,265 3.73

NEW ZEALAND NUOVA ZELANDA NUEVA ZELANDA NOVA ZELÂNDIASky City Entertainment Group Ltd 1,452,461 2,923,495 0.91

PAKISTAN PAKISTAN PAKISTAN PAKISTANNational Bank Of Pakistan 1,850,000 1,389,286 0.43

Oil & Gas Development Co Ltd 1,875,514 3,157,864 0.98

Pakistan Oilfields Ltd 1,173,521 3,086,930 0.96

Pakistan Petroleum Ltd 893,755 2,177,070 0.68

9,811,150 3.05

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEGlobe Telecom Inc 157,280 2,747,892 0.85


5,826,048 1.81

SINGAPORE SINGAPORE SINGAPUR SINGAPURASATS Ltd 1,458,000 2,983,190 0.93

Singapore Telecommunications Ltd 1,305,000 2,949,181 0.92

StarHub Ltd 1,757,000 3,180,413 0.98

9,112,784 2.83

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SULHyundai Home Shopping Network Corp 13,635 1,023,563 0.32

Kangwon Land Inc 198,540 3,626,680 1.13

4,650,243 1.45


USD %


275 Invesco Funds



TAIWAN TAIWAN TAIWAN TAIWANAltek Corp 2,072,000 3,054,575 0.95

Asia Cement Corp 3,281,023 2,947,227 0.92

Cheng Uei Precision Industry Co Ltd 1,766,490 2,856,472 0.89

China Steel Chemical Corp 974,000 3,037,480 0.94


Cyberlink Corp 697,000 2,757,844 0.86

Eternal Chemical Co Ltd 3,062,724 2,987,768 0.93

Greatek Electronics Inc 2,958,842 2,717,861 0.85

HTC Corp 195,300 3,563,493 1.10

Inventec Appliances Corp 3,946,750 2,818,316 0.88

LCY Chemical Corp 1,689,000 3,276,875 1.02

MediaTek Inc 208,415 2,838,268 0.88

Silitech Technology Corp 1,078,680 2,990,161 0.93




U-Ming Marine Transport Corp 1,521,000 2,934,315 0.91

50,666,161 15.76

THAILAND THAILANDIA TAILANDIA TAILÂNDIAAdvanced Info Service PCL 1,076,200 3,195,397 0.99

Bangkok Expressway PCL 5,364,500 3,232,761 1.01

BEC World PCL 3,549,600 3,532,009 1.10

Delta Electronics Thai PCL 4,220,100 3,861,902 1.20

Electricity Generating PCL NVDR 54,900 163,884 0.05

Electricity Generating PCL 1,027,300 3,021,469 0.94

Glow Energy PCL 2,536,200 3,618,218 1.12

Hana Microelectronics PCL 3,813,300 3,215,337 1.00

Kiatnakin Bank PCL 3,458,500 3,469,002 1.08

Ratchaburi Electricity Generating Holding PCL 2,597,700 3,207,676 1.00

30,517,655 9.49

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOTanjong Plc 528,800 3,590,888 1.12


BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASAUSTRALIA AUSTRALIA AUSTRALIA AUSTRÁLIAMacquarie Group Ltd 7.3% USD 01/08/2014 2,000,000 2,246,921 0.70

National Capital Trust II FRN USD Perpetual 1,000,000 925,000 0.29

PTTEP Australia International Finance Proprietary Ltd 4.152% USD 19/07/2015 500,000 509,575 0.16

Rio Tinto Finance USA Ltd 8.95% USD 01/05/2014 1,000,000 1,225,645 0.38

4,907,141 1.53

BERMUDA BERMUDAS BERMUDES BERMUDALi & Fung Ltd 5.25% USD 13/05/2020 2,750,000 2,941,991 0.91

Noble Group Ltd 6.75% USD 29/01/2020 3,000,000 3,170,532 0.99

6,112,523 1.90

CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENEAgile Property Holdings Ltd 10% USD 14/11/2016 1,000,000 1,052,500 0.33

Country Garden Holdings Co 11.25% USD 22/04/2017 500,000 501,250 0.16

Hutchison Whampoa Finance Ltd 7.45% USD 01/08/2017 1,000,000 1,215,015 0.38







Shimao Property Holdings Ltd 9.65% USD 03/08/2017 500,000 497,500 0.15

Swire Pacific MTN Financing Ltd 5.5% USD 19/08/2019 1,000,000 1,107,690 0.34

15,866,749 4.93


USD %


276 Invesco Funds



HONG KONG HONG KONG HONG KONG HONG KONGBank of China Hong Kong Ltd 5.55% USD 11/02/2020 2,500,000 2,631,238 0.81Bank of East Asia Ltd FRN USD 22/06/2017 2,000,000 1,905,972 0.59Bank of East Asia Ltd FRN USD 13/12/2015 1,750,000 1,757,613 0.55Bank of East Asia Ltd FRN USD Perpetual 1,000,000 1,077,420 0.34Dah Sing Bank Inc FRN USD 03/06/2016 2,000,000 1,948,381 0.60Dah Sing Bank Inc FRN USD 18/08/2017 1,000,000 1,022,155 0.32Standard Chartered Bank Hong Kong Ltd 5.875% USD 24/06/2020 500,000 540,518 0.17

10,883,297 3.38

INDIA INDIA INDIA ÍNDIAICICI Bank Ltd FRN USD Perpetual 3,000,000 2,917,152 0.91State Bank of India 4.5% USD 23/10/2014 1,000,000 1,034,500 0.32

3,951,652 1.23

INDONESIA INDONESIEN INDONESIE INDONESIABumi Capital Pte Ltd 12% USD 10/11/2016 1,000,000 1,042,867 0.32Indonesia Government Interantional Bond 8.5% USD 12/10/2035 3,500,000 5,149,375 1.59Indonesia Government Interantional Bond 10.375% USD 04/05/2014 2,000,000 2,526,300 0.79Indonesia Government Interantional Bond 11.625% USD 04/03/2009 4,000,000 6,130,000 1.90

14,848,542 4.60

MALAYSIA MALESIA MALASIA MALÁSIAAxiata SPV1 Labuan Ltd 5.375% USD 28/04/2020 500,000 547,408 0.17Malaysia Government International Bond 7.5% USD 15/07/2011 545,000 576,267 0.18Petronas Capital Ltd 7.875% USD 22/05/2022 2,000,000 2,729,048 0.85Public Bank Bhd FRN USD 20/06/2017 1,000,000 1,036,118 0.32TM Global Inc 8% USD 07/12/2010 300,000 305,126 0.09

5,193,967 1.61

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSIndosat Palapa Co BV 7.375% USD 29/07/2020 500,000 542,500 0.17Majapahit Holding BV 7.25% USD 28/06/2017 1,000,000 1,159,728 0.36Majapahit Holding BV 7.75% USD 20/01/2020 1,000,000 1,207,500 0.38Majapahit Holding BV 8% USD 07/08/2019 1,250,000 1,531,250 0.47

4,440,978 1.38

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEAsian Development Bank 3.375% USD 22/09/2010 1,000,000 1,002,020 0.31Philippine Government International Bond 6.375% USD 23/10/2034 500,000 590,688 0.18Philippine Government International Bond 6.5% USD 20/01/2020 1,500,000 1,778,438 0.55Philippine Government International Bond 8.375% USD 15/02/2011 1,000,000 1,032,642 0.32Philippine Government International Bond 9.875% USD 15/01/2019 2,000,000 2,864,357 0.89Philippine Government International Bond 10.625% USD 16/03/2025 3,000,000 4,844,999 1.52

12,113,144 3.77

SINGAPORE SINGAPORE SINGAPUR SINGAPURADBS Bank Ltd FRN USD 16/05/2017 2,000,000 2,073,541 0.64Prime Dig Pte Ltd 11.75% USD 03/11/2014 1,000,000 1,050,000 0.33United Overseas Bank Ltd FRN USD 03/09/2019 1,000,000 1,078,317 0.34

4,201,858 1.31

SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SULExport-Import Bank of Korea 5.875% USD 14/01/2015 1,000,000 1,120,548 0.35Kookmin Bank 7.25% USD 14/05/2014 2,000,000 2,305,523 0.72Korea Development Bank 4.375% USD 10/08/2015 1,000,000 1,054,774 0.33Korea Development Bank 5.3% USD 17/01/2013 1,000,000 1,062,257 0.33Korea East-West Power Co Ltd 4.875% USD 21/04/2011 1,000,000 1,017,849 0.32Korea Hydro & Nuclear Power Co Ltd 6.25% USD 17/06/2014 1,000,000 1,126,351 0.36Korea National Oil Corp 5.375% USD 30/07/2014 2,000,000 2,168,696 0.67Korea South-East Power Co Ltd 6% USD 25/05/2016 1,000,000 1,106,878 0.34Korea Southern Power Co Ltd 5.375% USD 18/04/2013 500,000 530,485 0.16KT Corp 5.125% USD 11/04/2012 2,000,000 2,082,148 0.65National Agricultural Cooperative Federation 5% USD 30/09/2014 500,000 533,666 0.17POSCO 8.75% USD 26/03/2014 3,000,000 3,623,019 1.13Republic of Korea 4.875% USD 22/09/2014 1,000,000 1,093,928 0.34Republic of Korea 7.125% USD 16/04/2019 2,500,000 3,196,182 1.00Shinhan Bank 6% USD 29/06/2012 2,500,000 2,661,402 0.82


USD %


277 Invesco Funds



SOUTH KOREA COREA DEL SUD COREA DEL SUR COREIA DO SUL (CONTINUED) (SEGUE) (CONINUACIÓN) (CONTINUAÇÃO)Shinhan Bank FRN USD 20/09/2036 1,000,000 988,730 0.31Woori Bank 4.75% USD 20/01/2016 500,000 512,395 0.16Woori Bank 7% USD 02/02/2015 200,000 222,880 0.07Woori Bank 7.63% USD 14/04/2015 1,000,000 1,107,295 0.34

27,515,006 8.57

THAILAND THAILANDIA TAILANDIA TAILÂNDIAPTT PCL 5.875% USD 03/08/2035 500,000 528,626 0.16

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOCNOOC Finance 2003 Ltd 5.5% USD 21/05/2033 1,950,000 2,170,671 0.68

Standard Chartered Bank FRN USD Perpetual 2,300,000 2,613,950 0.81

4,784,621 1.49

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAUnited States Treasury Note/Bond 4.5% USD 15/08/2039 2,000,000 2,341,250 0.73



OTHER TRANSERABLE ALTRI VALORI MOBILIARI OTROS VALORES DE OUTROS VALORES NEGOCIÁVEISSECURITIES NEGOCIABLESBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASMALAYSIA MALESIA MALASIA MALÁSIATenaga Nasional Bhd 7.5% USD 01/11/2025 500,000 670,496 0.21

PHILIPPINES PHILIPPINEN PHILIPPINES FILLIPINENEPhilippine Long Distance Telephone 11.375% USD 15/05/2012 1,000,000 1,170,000 0.37

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAUnited States of America Treasury Bonds 2.25% USD 31/05/2014 2,000,000 2,093,828 0.65Westpac Capital Trust III FRN USD Perpetual 1,500,000 1,465,650 0.46

3,559,478 1.11






USD %


278 Invesco Funds








FINLAND FINLANDIA FINLANDIA FINLÂNDIAUPM-Kymmene OYJ 16,000 170,800 0.54

FRANCE FRANCIA FRANCIA FRANÇACie Générale des Etablissements Michelin 1,816 105,210 0.33

Rhodia SA 8,333 122,620 0.39

Safran SA 7,236 137,701 0.43

365,531 1.15

GERMANY GERMANIA ALEMANIA ALEMANHABilfinger Berger AG 2,125 98,467 0.31

GREECE GRECIA GRECIA GRÉCIAPublic Power Corp SA 4,655 53,044 0.17

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSASML Holding NV 5,000 98,188 0.31

European Aeronautic Defence and Space Co NV 6,988 119,494 0.37

ING Groep NV 12,142 82,645 0.26

SBM Offshore NV 6,566 77,791 0.25

378,118 1.19

NORWAY NORVEGIA NORUEGA NORUEGAStorebrand ASA 23,000 89,292 0.28

PORTUGAL PORTUGAL PORTUGAL PORTUGALPortucel Empresa Produtora de Pasta e Papel SA 61,600 134,812 0.42


Grupo Empresarial Ence SA 42,000 92,505 0.29

Iberia Lineas Aereas de Espana SA 40,000 101,760 0.32

Obrascon Huarte Lain SA 8,046 156,534 0.50

Telefonica SA 8,309 143,123 0.45

628,685 1.98

SWEDEN SVEZIA SUECIA SUÉCIAAssa Abloy AB 5,531 86,275 0.27

SWITZERLAND SVIZZERA SUIZA SUÍÇANovartis AG 4,554 188,442 0.59


379,913 1.20

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOG4S Plc 37,660 114,341 0.36


BONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADASBERMUDA BERMUDAS BERMUDES BERMUDAPetroplus Finance Ltd 9.375% USD 15/09/2019 300,000 215,271 0.68


EUR %




CAYMAN ISLANDS KAIMAN-INSELN ILES CAIMANS CAYMANØYENESMFG Preferred Capital FRN GBP Perpetual 450,000 621,211 1.95

UPCB Finance Ltd 7.625% EUR 15/01/2020 400,000 408,000 1.29

1,029,211 3.24

FRANCE FRANCIA FRANCIA FRANÇAAXA SA FRN GBP Perpetual 100,000 106,009 0.33

BNP Paribas FRN GBP Perpetual 100,000 105,584 0.33



BPCE SA 13% USD Perpetual 154,500 136,979 0.43



Credit Agricole SA FRN EUR Perpetual 200,000 204,393 0.64

Credit Agricole SA 9.75% USD Perpetual 100,000 85,556 0.27

Korreden SA FRN EUR 01/08/2014 26,667 11,600 0.04

Rhodia SA 7% EUR 15/05/2018 200,000 205,250 0.65


Societe Generale FRN GBP Perpetual 100,000 123,308 0.39


SPCM SA 8.25% EUR 15/06/2017 250,000 251,563 0.79

2,044,286 6.44

GERMANY GERMANIA ALEMANIA ALEMANHAIKB Deutsche Industriebank AG FRN EUR 23/09/2010 50,000 49,963 0.16


Unitymedia GmbH 9.625% EUR 01/12/2019 300,000 317,602 1.00

Unitymedia Hessen GmbH & Co KG 8.125% EUR 01/12/2017 300,000 308,398 0.97

728,324 2.29

IRELAND IRLANDA IRLANDA IRLANDAAllied Irish Banks Plc 12.5% EUR 25/06/2019 67,000 69,652 0.22

Allied Irish Banks Plc 12.5% GBP 25/06/2019 50,000 63,300 0.20

Smurfit Kappa Acquisitions 7.75% EUR 15/11/2019 300,000 309,100 0.97

Smurfit Kappa Funding Plc 7.75% EUR 01/04/2015 250,000 254,059 0.80

696,111 2.19

ITALY ITALIA ITALIA ITÁLIALottomatica SpA FRN EUR 31/03/2066 200,000 199,000 0.63

LUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOAngel Lux Common SA FRN EUR 01/05/2016 237,521 238,484 0.75

Cirsa Funding Luxembourg SA 8.75% EUR 15/05/2018 200,000 191,000 0.60

Codere Finance Luxembourg SA 8.25% EUR 15/06/2015 100,000 95,875 0.30

Expro Finance Luxembourg SCA 8.5% USD 15/12/2016 500,000 370,613 1.17

Wind Acquisition Finance SA 11.75% EUR 15/07/2017 400,000 436,999 1.37

1,332,971 4.19

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSABN Amro Bank NV FRN GBP Perpetual 300,000 265,645 0.84


IFCO Systems NV 10% EUR 30/06/2016 300,000 338,000 1.07


Intergen NV 8.5% EUR 30/06/2017 200,000 207,500 0.65

Nielsen Co BV 0% EUR 01/08/2016 200,000 196,833 0.62

Pfleiderer Finance BV 7.125% EUR Perpetual 200,000 98,167 0.31

UPC Holding BV 9.75% EUR 15/04/2018 150,000 158,610 0.50

1,974,381 6.22


EUR %

279 Invesco Funds


280 Invesco Funds



SPAIN SPAGNA ESPAÑA ESPANHAAbengoa SA 8.5% EUR 31/03/2016 100,000 95,174 0.30


Campofrio Food Group SA 8.25% EUR 31/10/2016 400,000 405,502 1.28

Santander Finance Preferred SA Unipersonal FRN GBP Perpetual 700,000 922,660 2.90

1,543,946 4.86

SWITZERLAND SVIZZERA SUIZA SUÍÇAUBS AG FRN EUR Perpetual 100,000 82,250 0.26

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOAvis Finance Co Plc FRN EUR 31/07/2013 200,000 188,000 0.59

Aviva Plc FRN EUR Perpetual 50,000 39,526 0.12

Aviva Plc FRN GBP Perpetual 50,000 48,743 0.15

Barclays Bank Plc 10% GBP 21/05/2021 80,000 129,935 0.41


C10-EUR Capital SPV Ltd FRN EUR Perpetual 150,000 90,000 0.28

Care UK Health & Social Care Plc 9.75% GBP 01/08/2017 250,000 309,166 0.97

Cattles Plc 7.125% GBP 05/07/2017 100,000 11,561 0.04

Clerical Medical Finance Plc FRN GBP Perpetual 100,000 100,399 0.32

Co-Operative Bank Plc FRN GBP Perpetual 100,000 95,531 0.30

Eco-Bat Finance Plc 10.125% EUR 31/01/2013 109,500 111,231 0.36

Friends Provident Group Plc 12% GBP 21/05/2021 53,000 83,129 0.26


Ineos Finance Plc 9.25% EUR 15/05/2015 200,000 205,141 0.65

Ineos Group Holdings Plc 7.875% EUR 15/02/2016 400,000 305,250 0.96

Investec Tier I FRN EUR Perpetual 50,000 41,188 0.13

ISS Financing Plc 11% EUR 15/06/2014 200,000 220,708 0.70



LBG Capital No.2 Plc 6.385% EUR 12/05/2020 200,000 166,125 0.52




Legal & General Group Plc FRN GBP Perpetual 50,000 50,933 0.16

Legal & General Group Plc FRN GBP 23/07/2041 200,000 309,650 0.98

Lloyds TSB Bank Plc 13% GBP Perpetual 200,000 277,466 0.87

Nationwide Building Society FRN GBP Perpetual 100,000 119,559 0.38




Peel Land & Property Investments Plc 8.375% GBP 30/04/2040 100,000 131,284 0.41


Prudential Plc 6.5% USD Perpetual 75,000 52,709 0.17

Rexam Plc FRN EUR 29/06/2067 100,000 96,760 0.30


Royal Bank of Scotland Plc FRN EUR 23/02/2045 300,000 220,500 0.69

RSA Insurance Group Plc FRN GBP Perpetual 50,000 63,933 0.20

Standard Chartered Bank FRN USD Perpetual 200,000 179,235 0.56


Taylor Wimpey Plc FRN GBP 03/07/2012 162,149 200,287 0.63

Thomas Cook Group Plc 6.75% EUR 22/06/2015 400,000 385,980 1.22

UBS Capital Securities Jersey Ltd FRN EUR Perpetual 400,000 412,000 1.30

Vedanta Resources Plc 8.75% USD 15/01/2014 100,000 82,698 0.26

Virgin Media Finance Plc 8.875% GBP 15/10/2019 200,000 268,045 0.84

Virgin Media Finance Plc 9.5% EUR 15/08/2016 200,000 226,333 0.71


Yorkshire Building Society FRN GBP Perpetual 50,000 40,615 0.13

8,401,493 26.48


EUR %


281 Invesco Funds



UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAmerican International Group Inc FRN EUR 15/03/2067 300,000 184,188 0.58


American International Group Inc FRN USD 15/05/2058 250,000 171,507 0.54

Chesapeake Corp 7% EUR 15/12/2014 100,000 5,500 0.02

Deutsche Bank Capital Funding Trust XI 9.5% EUR Perpetual 500,000 546,734 1.72

Ford Motor Co 7.45% USD 16/07/2031 100,000 77,277 0.24

Fresenius US Finance II Inc 8.75% EUR 15/07/2015 100,000 117,464 0.37

General Electric Capital Corp FRN EUR 15/09/2067 107,000 90,795 0.29

General Electric Capital Corp FRN GBP 15/09/2067 100,000 111,631 0.35

Hertz Corp 7.875% EUR 01/01/2014 50,000 50,500 0.16

Levi Strauss & Co 7.75% EUR 15/05/2018 200,000 196,000 0.62

Motors Liquidation Co 8.375% EUR 05/07/2033 1,500,000 510,000 1.60

RBS Capital Trust D 5.646% GBP Perpetual 100,000 72,409 0.23

Reynolds Group Issuer Inc 9.5% EUR 15/06/2017 200,000 191,286 0.60

TRW Automotive Inc 6.375% EUR 15/03/2014 100,000 100,500 0.32

2,552,166 8.04

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES20,799,410 65.52


OTHER TRANSFERABLE SECURITIES/ALTRI VALORI MOBILIARI/OTROS VALORES NEGOCIABLES/OUTROS VALORESNEGOCIÁVEISBONDS OBBLIGAZIONI BONOS COTIZADOS OBRIGAÇÕES COTADAS

ANLEIHENLUXEMBOURG LUSSEMBURGO LUXEMBURGO LUXEMBURGOM&G Finance Luxembourg SA FRN EUR Perpetual 100,000 17,500 0.06

NETHERLANDS OLANDA PAISES BAJOS PAÍSES BAIXOSBoats Investments BV 11% EUR 31/03/2017 138,364 111,729 0.35Hollandwide Parent BV 0% EUR 01/08/2014 73,000 2,190 0.01

113,919 0.36

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOFirst Hydro Finance 9% GBP 31/07/2021 100,000 147,263 0.46

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAAlly Financial Inc 7% USD Perpetual 32 20,834 0.07

Bank of America Corp FRN USD Perpetual 100,000 80,688 0.25

Jarden Corp 7.5% EUR 15/01/2020 500,000 491,865 1.55

593,387 1.87

TOTAL BONDS TOTALE OBBLIGAZIONI TOTAL DE BONOS QUOTATE TOTAL DE OBRIGAÇÕES872,069 2.75

WARRANTS WARRANT WARRANTS TÍTULOS DE SUBSCRIÇÃOUNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOTaylor Wimpey WTS 15/05/2014 4,495 68 –

TOTAL WARRANTS TOTALE WARRANT TOTAL WARRANTS TOTAL DE TÍTULOS DE SUBSCRIÇÃO68 –





EUR %


282 Invesco Funds

Invesco Global Absolute Return Fund







IRELAND IRLANDA IRLANDA IRLANDAShort-Term Investments Co Global Series - Euro Liquidity Portfolio 450,000 450,000 9.78

TOTAL OPEN-ENDED FUNDS TOTALE FONDI APERTI TOTAL DE FONDOS DE TOTAL DE FUNDOS DE INVESTIMENTOINVERSION ABIERTOS ABERTO 450,000 9.78

Total Totale Total Total dosInvestments Investimenti Inversiones Investimentos 450,000 9.78



EUR %


283 Invesco Funds

Invesco Balanced-Risk Allocation Fund







IRELAND IRLANDA IRLANDA IRLANDASource Physical Markets Secured Gold Linked Noted 3,400 330,008 1.24

SWITZERLAND SVIZZERA SUIZA SUÍÇAUBS ETC WTI Crude Oil - USD 1,520 1,340,608 5.04

UNITED KINGDOM REGNO UNITO REINO UNIDO REINO UNIDOETFS Agriculture DJ-UBSCI 347,000 1,847,294 6.94


4,245,224 15.95

UNITED STATES STATI UNITI ESTADOS UNIDOS ESTADOS UNIDOS DA AMÉRICAiPath Dow Jones-UBS Copper Subindex Total Return ETN 45,500 1,640,722 6.17

TOTAL STRUCTURED TOTALE PRODOTTI TOTAL DE PRODUTOS TOTAL PRODUCTOS ESTRUCTURADOSPRODUCTS STRUTTURATI ESTRUTURADOS 7,556,562 28.40





EUR %


284 Invesco Funds


ASSETS Attivitá Activo ActivoInvestments at Investimenti al valore Inversíon a Investimento aomarket value di mercato valor de Mercado valor de mercado 2(b)

CURRENT ASSETS ATTIVITá Correnti Activo Circulante Activo circulanteDue from brokers Crediti verso broker Intermediarios deudores A pagar por corretoresReceivable for Crediti per Azioni emeses Importes a cobrar Montantes a cobrarshares issued por emisión de Acciones por emissão de acçõesOther debtors Altri crediti Otros deudores Devedores diversosBank balances Saldi bancari Caja y bancos Saldos bancáriosUnrealised gain on Plusvalenze non realizzate Plusvalía latente Ganho não realizadoforward foreign exchange su contratti en contrators a em operaçõescontracts/futures contracts di cambio a termine plazo sobre divisas cambiais a prazo 7, 8, 2(i)/(j)Net unrealised gain on Utili non realizzati su Beneficios no realizados en Ganhos não realizados comequity swaps swap su Equity swaps de tipos de interés swaps de taxes de juro 11&2(m)Net unrealised gain on Utili non realizzati su credit Plusvalía latente en swaps Ganhos não realizados com credit default swap default swap de incumplimiento crediticio swaps de incumprimento de crédito 9 & 2(k)

Total Assets Totale Attivitá Total activo Total do activor

CURRENT LIABILITIES Passivitá correnti Pasivo circulante Passivo a curto prazoBank Overdraft Scoperti bancari Descubierto en cuenta Descoberto bancário bancariaDue to brokers Debiti verso broker Intermediarios acreedores A pagar a corretoresPayable for Debiti per Azioni Importes a pagar por Montantes a pagarshares redeemed riscattate reembolso de Acciones por resgate de acçõesOther creditors Altri debiti Otros acreedores Credores diversosUnrealised loss on Minusvalenze non realizzate Minusvalía latente Prejuízo não realizado forward foreign exchange su contratti di en contratos a em operações contracts/futures contracts cambio a termine plazo sobre divisas cambiais a prazo 7, 8, 2(i)/(j)Net unrealised loss on Perdite non realizzate Pérdidas no realizadas sobre Perda não realizada comequity swaps su equity swap permutes de renta variable equity swapsNet unrealised loss on credit Perdite non realizzate Pérdidas no realizadas Perda não realizada default swaps su credit swap de los swaps de crédito com swaps de crédito 9 & 2(k)

Total Liabilities Totale Passivitá Total pasivo Total do passivo

Net Assets Patrimonio Netto Patrimonio Neto Situação Líquida

Number of Shares Numero di Azioni Número de Acciones Número de Acçõesin Issue in circolazione en circulation em circulaçãoDistribution A Distribuzione A Reparto A Distribuição AAccumulation A Capitalizzazione A Acumulación A Capitalização AAccumulation A Hedg (EUR) Capitalizzazione A Hedg (EUR) Acumulación A Hedg (EUR) Capitalização A Hedg (EUR)Accumulation A Hedg (USD) Capitalizzazione A Hedg (USD) Acumulación A Hedg (USD) Capitalização A Hedg (USD)Accumulation A (USD) Capitalizzazione A (USD) Acumulación A (USD) Capitalização A (USD)Distribution A Hedg (EUR) Distribuzione A Hedg (EUR) Reparto A Hedg (EUR) Distribuição A Hedg (EUR)Distribution A (USD) Distribuzione A (USD) Reparto A (USD) Distribuição A (USD)Accumulation B Capitalizzazione B Acumulación B Capitalização BAccumulation B1 Capitalizzazione B1 Acumulación B1 Capitalização B1Distribution C Distribuzione C Reparto C Distribuição CAccumulation C Capitalizzazione C Acumulación C Capitalização CAccumulation C Hedg (EUR) Capitalizzazione C Hedg (EUR) Acumulación C Hedg (EUR) Capitalização C Hedg (EUR)Accumulation C Hedg (GBP) Capitalizzazione C Hedg (GBP) Acumulación C Hedg (GBP) Capitalização C Hedg (GBP)Accumulation C Hedg (USD) Capitalizzazione C Hedg (USD) Acumulación C Hedg (USD) Capitalização C Hedg (USD)Accumulation E Capitalizzazione E Acumulación E Capitalização EAccumulation E Hedg (EUR) Capitalizzazione E Hedg (EUR) Acumulación E Hedg (EUR) Capitalização E Hedg (EUR)Accumulation I Capitalizzazione I Acumulación I Capitalização I

Net Asset Value Valore Patrimoniale Valor teórico Valor contabilisticoper Share Netto per Azione de la Acción por acçãoDistribution A Distribuzione A Reparto A Distribuição AAccumulation A Capitalizzazione A Acumulación A Capitalização A Accumulation A Hedg (EUR) Capitalizzazione A Hedg (EUR) Acumulación A Hedg (EUR) Capitalização A Hedg (EUR)Accumulation A Hedg (USD) Capitalizzazione A Hedg (USD) Acumulación A Hedg (USD) Capitalização A Hedg (USD)Accumulation A (USD) Capitalizzazione A (USD) Acumulación A (USD) Capitalização A (USD)Distribution A Hedg (EUR) Distribuzione A Hedg (EUR) Reparto A Hedg (EUR) Distribuição A Hedg (EUR)Distribution A (USD) Distribuzione A (USD) Reparto A (USD) Distribuição A (USD)Accumulation B Capitalizzazione B Acumulación B Capitalização BAccumulation B1 Capitalizzazione B1 Acumulación B1 Capitalização B1Distribution C Distribuzione C Reparto C Distribuição CAccumulation C Capitalizzazione C Acumulación C Capitalização CAccumulation C Hedg (EUR) Capitalizzazione C Hedg (EUR) Acumulación C Hedg (EUR) Capitalização C Hedg (EUR)Accumulation C Hedg (GBP) Capitalizzazione C Hedg (GBP) Acumulación C Hedg (GBP) Capitalização C Hedg (GBP)Accumulation C Hedg (USD) Capitalizzazione C Hedg (USD) Acumulación C Hedg (USD) Capitalização C Hedg (USD)Accumulation E Capitalizzazione E Acumulación E Capitalização EAccumulation E Hedg (EUR) Capitalizzazione E Hedg (EUR) Acumulación E Hedg (EUR) Capitalização E Hedg (EUR)Accumulation I Capitalizzazione I Acumulación I Capitalização I


285 Invesco Funds


The accompanying notes form an integral part of these financial statements. /*Funds which swung the price on 31 August (see note 12) /*Comparti nei quali è stato adottato lo swing price il 31 agosto (vedere nota12)* As notas explicativas são parte integrante destas demonstrações financeiras .* fundos que balançou o preço no 31August 2010 (ver nota 12). 1 Invesco Latin American Equity Fund was launched on 21 June 2010.

Invesco Invesco Invesco Invesco Invesco Invesco Invesco

Global US US Latin Pan European Pan Pan European Invesco Invesco

Structured Structured 130/30 American Structured European Small Cap European Pan European

Equity Equity Equity Equity Equity Equity Equity Growth Equity Equity Income

Fund Fund* Fund Fund 1 Fund Fund Fund Fund FundUSD USD USD USD EUR EUR EUR EUR EUR

23,681,716 59,909,910 3,648,836 3,056,082 262,068,616 510,891,014 84,501,282 66,250,119 4,099,450

– – – 12,503 – 1,566,005 127,257 52,842 4,065

5,494 19,523 243 – 2,462,888 207,198 5,929 72,726 438

66,844 136,820 86,208 65,932 740,319 1,291,512 44,309 120,600 25,923

2,220,633 1,933,520 178,940 12,410 12,150,643 553,725 2,075,181 6,616,285 16,349

195,275 391 73 5 – – – – –

– – 36,330 – – – – – –

– – – – – – – – –

– – – – – – – – –

26,169,962 62,000,164 3,950,630 3,146,932 277,422,466 514,509,454 86,753,958 73,112,572 4,146,225

– – – – – – – – –

– – – 3,092 – 1,727,122 88,705 – –

168,008 71,915 14,749 – 1,484,846 1,678,355 738,900 9,905 –

59,461 116,692 31,477 65,425 392,375 923,736 218,749 142,332 16,966

1,233,362 83,428 7,822 3,754 278,823 – – – –

– – 44,706 – – – – – –

– – – – – – – – –

– – – – – – – – –

1,460,831 272,035 98,754 72,271 2,156,044 4,329,213 1,046,354 152,237 16,966

24,709,131 61,728,129 3,851,876 3,074,661 275,266,422 510,180,241 85,707,604 72,960,335 4,129,259

228,455 – 252,731 – 588 1,954,428 – – 498,533

– 1,662,576 14,378 290,000 15,886,451 24,079,636 7,621,370 1,922,643 29,694

2,345 31,609 9,162 2,646 – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – 12,108 1,040 – –

– 62 – – 102 287,624 106,618 – –

– – – – – – – – –

648,838 – – – – 1,644,701 – – –

– 2,896,518 250,000 2,500 14,346,330 16,054,849 146,845 3,125,092 1,299

2,240 44,130 11,038 16,971 – – – – –

4,459 – – – – – – – –

– – – – – – – – –

21,118 684,878 4,925 2,506 2,157,063 4,664,508 465,692 201,095 26,040

– – – – – – – – –

– 111 182 – – 99 – 78 –

26.29 – 7.16 – 8.37 9.66 – – 7.41

– 11.50 7.16 9.79 8.36 10.37 10.32 13.67 7.69

19.78 6.38 4.18 7.49 – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – – – – –

– – – – – 12.46 13.08 – –

– 10.67 – – 7.84 9.10 9.17 – –

– – – – – – – – –

27.57 – – – – 10.23 – – –

– 11.93 7.26 9.79 8.78 10.97 10.91 14.10 7.78

20.74 6.63 4.24 7.49 – – – – –

18.06 – – – – – – – –

– – - – – – – – –

21.43 8.53 5.54 7.72 7.65 9.86 9.56 13.08 7.53

– – – – – – – – –

– 9.12 5.71 – – 10.49 – 13.81 –


286 Invesco Funds











287 Invesco Funds


Invesco Invesco InvescoPan European Invesco Nippon Invesco Invesco Invesco Invesco Invesco Asia Invesco

130/30 Emerging Small/Mid Nippon Select Asia Greater China Asia India Consumer GlobalEquity Europe Equity Cap Equity Equity Opportunities Equity Infrastructure Equity Demand Leisure

Fund Fund Fund* Fund Equity Fund Fund Fund Fund Fund* Fund*EUR USD JPY JPY USD USD USD USD USD USD

4,390,798 31,622,968 3,798,443,550 8,219,890,450 122,418,648 493,124,317 2,602,033,563 128,035,569 618,158,472 33,164,584

372,426 – 44,471,823 103,921,507 749,146 4,257,982 1,275,572 – – 868,165

1,692 339,767 1,748,382 482,553 2,217,118 5,528,608 11,974 5,893,023 21,943,813 338,572

59,891 371,470 3,203,818 5,645,782 211,984 1,741,759 7,484,240 166,078 766,361 31,952

263,413 324,832 161,610,686 18,592,816 670,704 – 25,775,152 3,406,694 – 12,319

– – – – – 43 469 – 452 -

139,121 – – – – – – – – -

– – – – – – – – – -

– – - – – – – – – -

5,227,341 32,659,037 4,009,478,259 8,348,533,108 126,267,600 504,652,709 2,636,580,970 137,501,364 640,869,098 34,415,592

– – – – – 1,982,506 – 1,637,199 6,946,761 -

344,433 113,006 13,299,428 75,484,967 1,295,383 6,132,493 4,294,566 – 8,419,693 485,380

519 140,069 34,789,612 29,327,198 64,171 80,063 7,206,636 2,194,210 290,269 580,519

25,205 105,723 13,910,024 23,037,374 394,770 1,156,585 5,563,292 432,767 2,537,126 95,708

5,099 – – – – 7,634 23,194 – 38,150 -

73,438 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

448,694 358,798 61,999,064 127,849,539 1,754,324 9,359,281 17,087,688 4,264,176 18,231,999 1,161,607

4,778,647 32,300,239 3,947,479,195 8,220,683,569 124,513,276 495,293,428 2,619,493,282 133,237,188 622,637,099 33,253,985

– – – – – – 31,366,480 2,247,696 2,641,596 -

113,557 1,437,066 6,708,559 34,131,048 589,208 8,613,470 110,544,431 – 27,348,422 2,038,813

– – – – – 3,878 43,623 – 67,653 -

– – – – – – – – – -

423,673 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

– 127,518 141,843 347,802 18,139 289,452 – – – 16,091

– – – – – – – – – -

– – – – – – – 262,387 – -

424,768 552,150 207,805 5,108,793 706,523 1,956,816 26,295,450 – 15,211,111 47,348

– – – – – 1,962 4,936 – 71,072 -

– – – – – – – – – -

– – – – – – – – – -

12,282 1,218,087 632,816 8,031,598 135,138 4,485,772 35,896,853 843,529 10,427,242 71,959

– – – – – – – – – -

207 – 205 602 – – – – – -

– – – – – – 12.65 39.72 11.01 -

4.87 9.76 516.56 173.14 84.20 32.77 12.89 – 11.16 15.33

– – – – – 24.22 9.33 – 8.13 -

– – – – – – – – – -

6.17 – – – – – – – – -

– – – – – – – – – -

– – – – – – – – – -

– 8.86 460.00 153.12 75.55 28.96 – – – 13.47

– – – – – – – – – -

– – – – – – – 43.00 – -

4.95 10.27 547.33 182.99 89.15 34.66 13.23 – 11.33 16.17

– – – – – 25.62 9.77 – 8.36 -

– – – – – – – – – -

– – – – – – – – – -

4.79 7.43 4.47 1.54 61.54 24.02 9.86 30.54 8.66 11.20

– – – – – – – – – -

4.92 – 4.88 1.64 – – – – – -

The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August (see note 12) /*Comparti nei quali è stato adottato lo swing price il 31 agosto (vedere nota12)* As notas explicativas são parte integrante destas demonstrações financeiras .* fundos que balançou o preço no 31August 2010 (ver nota 12).


288 Invesco Funds











289 Invesco Funds


The accompanying notes form an integral part of these financial statements./*Funds which swung the price on 31 August (see note 12) /*Comparti nei quali è stato adottato lo swing price il 31 agosto (vedere nota 12)* As notasexplicativas são parte integrante destas demonstrações financeiras .* fundos que balançou o preço no 31August 2010 (ver nota 12). 1Invesco Emerging Markets Quantative Equity Fund was launched on 21 June 2010. 1Invesco Gold &Precious Metals Fund was launched on 21 June 2010.

Invesco Invesco Invesco InvescoAsia Pacific Global Income Emerging Gold & Invesco Invesco Invesco Invesco Invesco Invesco

Invesco Real Estate Real Estate Markets Precious USD Euro Global European Absolute Euro CorporateEnergy Securities Securities Quantitive Metals Reserve Reserve Bond Bond Return Bond

Fund Fund Fund Equity Fund1 Fund1 Fund Fund Fund Fund Bond Fund Fund*USD USD USD USD USD USD EUR USD EUR EUR EUR

265,120,930 3,002,410 9,562,652 6,802,854 1,968,620 76,224,452 261,308,367 35,861,164 62,016,008 31,145,341 1,488,179,224

9,654,993 – 177,516 783 –– – – – 337,898 – -

16,317,426 248 3,506 – 6,481 1,887,958 14,073,042 376,220 302,170 7,247 15,125,536

421,721 78,841 18,941 72,094 62,622 75,026 370,214 420,475 1,107,667 343,256 34,056,442

8,571,749 78,527 383,423 115,616 61,912 41,983,283 90,528,221 5,363,733 1,326,060 912,704 184,540,530

56,174 – – 106 386 – – 81,053 20,978 281,724 -

– – – – – – – – – – -

– – – – – – – – – 51,684 -

– – – – – – – – – – -

300,142,993 3,160,026 10,146,038 6,991,453 2,100,021 120,170,719 366,279,844 42,102,645 64,772,883 33,079,854 1,721,901,732

– – – – – – – – – – -

11,755,616 – 149,095 – – – 13,969,200 – 157,688 – -

45,622 172 30,755 – – 3,843,510 2,027,305 1,592,099 94,368 129,152 5,353,921

560,398 72,733 42,653 72,010 67,033 102,106 266,761 77,735 90,523 83,107 1,900,713

298,929 – – 7,797 30,440 – – 201,003 97,688 742,719 13,858,500

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

12,660,565 72,905 222,503 79,807 97,473 3,945,616 16,263,266 1,870,837 440,267 954,978 21,113,134

287,482,428 3,087,121 9,923,535 6,911,646 2,002,548 116,225,103 350,016,578 40,231,808 64,332,616 32,124,876 1,700,788,598

280 151,763 806,240 – – – 16 995,534 213 – 13,554,549

10,988,160 39,567 363,383 17,983 81,393 698,148 277,732 1,405,042 7,163,043 4,341,535 28,574,762

633,447 – – 6,504 74,522 – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – 3,453 264 – 154,691 – -

122,325 – – – – 39,175 – – – – -

– – – – – – – – – – -

– – – – – 418,254 591,179 1,910,999 3,547,418 2,077,214 54,305,153

535,307 150,000 647 656,242 31,375 – – – – – -

75,437 – – 6,504 6,504 – – – – 37,423 -

– – – 6,505 – - - - - - -

1,758,610 17,294 47,275 801 751 166,000 205,498 1,331,856 1,541,056 5,133,239 35,255,289

– – – – – – – – – – -

– – – 100 – – – – – 347 -

20.89 8.52 7.82 – – – 320.17 5.2210 5.0127 – 11.1622

20.87 8.61 8.89 9.93 10.20 87.00 320.18 7.3948 5.1593 2.7697 13.071

11.07 – – 7.99 8.21 – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

– – – – – – – – – – -

18.89 – – – – 78.91 289.93 – 4.5801 – -

– – – – – 86.89 – – – – -

– – – – – – – – – – -

21.88 8.71 9.11 9.94 10.22 89.39 331.01 7.9116 5.3088 2.8769 13.2521

11.63 – – 8.00 8.22 – – – – – -

– – – 6.68 – – – – – 2.3841 -

– – – – – – – – – – -

15.29 6.73 6.34 7.82 8.04 68.52 317.88 5.6394 5.0835 2.7302 12.9437

– – – – – – – – – – -

– – – 7.86 – – – – – 2.8506 -


290 Invesco Funds











291 Invesco Funds


The accompanying notes form an integral part of these financial statements. /*Funds which swung the price on 31 August (see note 12) /*Comparti nei quali è stato adottato lo swing price il 31 agosto (vedere nota 12)* As notasexplicativas são parte integrante destas demonstrações financeiras .* fundos que balançou o preço no 31August 2010 (ver nota 12). 1Invesco Global Unconstrained Bond Fund was launched on 21 June 2010.

Invesco Invesco Invesco Invesco Invesco Invesco Invesco Invesco 31.08.10Euro-Inflation UK Emerging Global Invesco Capital Invesco Pan Global Balanced Consolidated-

Linked Investment Local Investment Global Shield 90 Asia European Absolute Risk Net AssetsBond Grade Currencies Grade Corporate Unconstrained (EUR) Balanced High Income Return Allocation USDFund Bond Fund Debt Fund* Bond Fund Bond Fund1 Fund* Fund* Fund Fund Fund EquivalentEUR GBP USD USD GBP EUR USD EUR EUR EUR USD

81,403,723 63,723,690 448,280,407 15,458,275 2,028,916 161,250,746 304,897,565 24,170,825 450,000 7,556,562 9,397,670,752

– – – – – – – 288,750 – – 22,242,390

78,478 803,191 3,809,770 5,756 – 494 2,783,829 3,222 3,528 – 103,775,676

464,709 1,101,802 9,894,178 322,963 89,793 43,551 3,896,674 516,950 29,818 46,329 78,129,602

2,679,904 1,512,422 29,883,203 991,133 249,565 118,043,811 12,671,150 7,288,115 4,678,636 18,728,681 710,663,016

– 303,993 672,300 136,149 24,518 1,580,109 3,579 14,527 66,438 695,251 5,025,677

– – – – – – – – 209,844 – 478,898

– – – – 2,196 – – 102,425 – – 198,835

– – – – – – – – – – -

84,626,814 67,445,098 492,539,858 16,914,276 2,394,988 280,918,711 324,252,797 32,384,814 5,438,264 27,026,823 10,318,184,846

– – – – – – – – – – 10,567,575

– – – 144,893 – 13,969,200 1,023,563 15,303 – – 73,260,676

1,440,178 59,962 5,949,377 – – 580,603 973,862 456,332 344,768 – 42,283,938

112,937 75,104 844,724 77,042 44,332 527,551 528,898 78,192 29,298 76,919 19,822,413

430,278 201,823 2,179,030 643,832 1,668 3,259,950 164,404 86,901 173,114 342,773 29,683,033

– – – – – – – – 288,414 – 503,618

– – – – 35,563 – – – – – 54,881

– – – – – – – – – – -

1,983,393 336,889 8,973,131 865,767 81,563 18,337,304 2,690,727 636,728 835,594 419,692 176,176,134

82,643,421 67,108,209 483,566,727 16,048,509 2,313,425 262,581,407 321,562,070 31,748,086 4,602,670 26,607,131 10,142,008,712

– 75,282,021 19,728,265 453,006 – – 12,565,088 1,526,371 – 460

2,662,220 – 1,944,229 – 44,453 16,012,221 3,815,495 302,905 213,758 145,237

– – 1,550,198 114,621 2,190 – 276,218 – – –

– – – – – – – – – 4,584

– – – – – – – – – –

– – 13,775 – – – – – – –

– – – 641 – – – – – –

56 – – – – – – – – –

– – – – – – – – – –

– – – 358,904 – – – – – –

841,273 – 8,174,472 – 172,384 4,580,326 2,369,183 602,210 175,569 2,141,770

– – 1,404,791 431,495 2,190 – 3,618 – – –

– – – 12,589 – – – – – 12,294

– – – – – – – – 5,231 4,562

1,980,635 – 7,308,691 159,987 – 4,062,218 612,709 345,870 95,674 13,022

– – – – 2,190 – – – – –

69 – – – – 92 – – – –

– 0.8914 10.7805 10.8327 – – 14.93 10.53 – 11.39

15.0794 – 13.7574 – 10.3506 10.65 19.31 12.55 9.34 11.39

– – 7.6483 7.6786 12.3987 – 11.21 – – –

– – – – – – – – – 15.09

– – – – – – – – – –

– – 8.2435 – – – – – – –

– – – 10.6907 – – – – – –

13.7953 – – – – – – – – –

– – – – – – – – – –

– – – 10.8771 – – – – – –

15.5211 – 13.9901 – 10.3627 10.99 19.69 12.66 9.52 11.46

– – 8.5568 7.7104 12.4138 – 14.59 – – –

– – – 7.1478 – – – – – 10.10

– – – – – – – – 12.62 15.19

14.8636 – 10.7191 8.6565 – 10.27 12.39 12.26 9.23 11.33

– – – – 12.3892 – – – – –

15.1685 – – – – 10.93 – – – –


292 Invesco Funds

1. GeneralInvesco Funds (the “Fund”) is an investment company organised under part I of the Luxembourg Law on collective investment of December 20,

2002 as a Société Anonyme qualifying as a Société d’Investissement à Capital Variable (“SICAV”). Invesco Funds is an umbrella fund, comprising

41 active sub-funds with each sub-fund being treated as a separate entity.

(a) Invesco India (Mauritius) LimitedInvestments in Indian securities are made through a wholly-owned Mauritian subsidiary, Invesco India (Mauritius) Limited (the "Subsidiary"), whose

sole object is to carry out investment activities on behalf of the Fund. The Subsidiary is wholly owned by Invesco India Equity Fund. The Subsidiary

holds a Category 1 Global Business Licence issued by the Mauritius Offshore Business Activities Authority. As a result it is subject to a reduced

rate of Mauritian income tax on its income. In addition, no capital gains tax will be payable in respect of the Subsidiary's investments in India and

any dividends and redemption proceeds paid by the Subsidiary to the Invesco India Equity Fund will be exempt from Mauritian withholding tax.

(b) Classes of SharesThe Shares of some of the sub-funds are available in up to six classes (Class A, Class B, Class B1, Class C, Class E and Class I). Class A Shares are

available without any restraints. Class B Shares are available to customers of distributors or intermediaries appointed specifically for the purpose of

distributing the B Shares and only in respect of those Funds in respect of which distribution arrangements have been made with such distributors.

Class C Shares are available to all investors, which have a higher minimum initial subscription amount and benefit from reduced management

charges, are intended primarily for larger or institutional investors. Class E Shares denominated in Euro have a lower initial subscription amount

and higher annual management fee than either the A or the C Class. Class B1 Shares are only available to customers of Merrill Lynch. Class I

Shares are denominated in Euro and are only available to Institutional clients who have an Institutional Management Agreement in place with

Invesco. There are distributing A & C Share classes, hedged share classes and fixed distribution share classes within some of the sub-funds.

Hedged Share Classes are available to investors on several sub-funds. For such classes of Shares, the SICAV may hedge the currency exposure of

classes of Shares denominated in a currency other than the base currency of the relevant Fund, in order to attempt to mitigate the effect of

fluctuations in the exchange rate between the Share class currency and the base currency.

(c) Activity of the FundA & C EUR Hedged share classesEffective 31 March 2010, ‘A’ & ‘C’ Hedged share classes were launched on the following sub-funds:





Invesco Euro Reserve Fund Effective 31 March 2010, ‘A’ Annual Distribution share class was launched on the Invesco Euro Reserve Fund.

Invesco Energy FundEffective 31 March 2010, ‘A’ Annual Distribution share class was launched on the Invesco Energy Fund.

Invesco Global Absolute Return FundEffective 29 April 2010, ’C’ USD Hedged share class was launched on the Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundEffective 29 April 2010, the following share classes were launched on the Invesco Balanced-Risk Allocation Fund:

- ‘A’ USD Hedged share class

- ‘C’ USD Hedged share class

- ‘A’ Annual Distribution share class

Invesco Global Investment Grade Corporate Bond FundEffective 29 April 2010, the following share classes were launched on the Invesco Global Investment Grade Corporate Bond Fund:


- ‘A’ USD Monthly Distribution share class

Invesco Global Structured Equity FundEffective 29 April 2010, the following share classes were launched on the Invesco Global Structured Equity Fund:

- ‘A’ EUR Hedged share class

- ‘C’ EUR Hedged share class


Invesco Pan European Structured Equity FundEffective 29 April 2010, ‘A’ Annual Distribution share class was launched on the Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundThe Invesco Gold & Precious Metals Fund was launched on 21 June 2010.

Invesco Global Unconstrained Bond FundThe Invesco Global Unconstrained Bond Fund was launched on 21 June 2010.

Invesco Emerging Markets Quantitative Equity FundThe Invesco Emerging Markets Quantitative Equity Fund was launched on 21 June 2010.

Notes to the Financial Statements


293 Invesco Funds

1. General (continued)Invesco Latin American Equity FundThe Invesco Latin American Equity Fund was launched on 11 August 2010.

Invesco Absolute Return Bond FundEffective 11 August 2010, ‘C’ GBP Hedged share class was launched on Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundEffective 11 August 2010, ‘A’ EUR Hedged Monthly Distribution share class was launched on Invesco Emerging Local Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundThe Invesco Global Total Return (EUR) Bond Fund was launched on 15 September 2010.

Invesco Global Absolute Return FundEffective 15 September 2010, ‘C’ JPY Hedged share class was launched on Invesco Global Absolute Return Fund.

Changes to organisation structure- Effective 1 March 2010, the Administration Agent, Registrar and Transfer Agent changed from RBC Dexia Investor Services Bank S.A. to The

Bank of New York Mellon (International) Limited.

- Effective 1 March 2010, the Domiciliary and Corporate Agent changed from RBC Dexia Investor Services Bank S.A. to The Bank of New York


- Effective 1 March 2010, the Custodian and Paying Agent changed from J.P.Morgan Bank Luxembourg S.A. to The Bank of New York Mellon

(International) Limited, Luxembourg Branch.

- Effective 1 March 2010, the Registered Office of Invesco Funds changed from 69, route d'Esch, L-1470 Luxembourg, Grand Duchy of

Luxembourg to 46A, Avenue John F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. Effective 15 May 2010, the Registered Office

changed to 2-4 rue Eugène Ruppert, L-2453 Luxembourg, Grand Duchy of Luxembourg.

(d) PEA Disclosure (Plan d’Epargne en Actions)From the 1 March 2010 to 31 August 2010, the following sub-funds held the average percentage, as specified in the table, of their assets invested

at any time in PEA eligible securities as defined by the Article L.221-31 of the Code Monétaire et Financier. This is required by sub-funds

registered in France that meet the Equity Savings Plan (PEA) requirements. The maximum percentage investments during this period are also

provided:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Summary of Significant Accounting Policies(a) The accompanying financial statements have been prepared in accordance with the format prescribed by Luxembourg regulations.

Consolidation figures appearing in the Statement of Net Assets are for statistical purposes only and should not be used by investors with holdings

in one or more sub-funds.

(b) Valuation of investmentsNormally investments, including financial derivative instruments, are valued on the basis of the latest dealing price or the latest available

midmarket quotation (the midpoint between the latest quoted bid and offer prices) of the securities on the relevant securities market on which the

investments of the Fund are traded, quoted or dealt as at the Valuation Point on that day. Where investments of a sub-fund are both listed on a

stock exchange and dealt by market makers outside the stock exchange on which the investments are listed, then the SICAV will determine the

principal market for the investments in question and they are valued at the latest available price in that market. Securities which are not quoted or

dealt on any stock exchange but which are dealt in on any other regulated market are valued in a manner as near as possible to that described

above. If no price quotation is available for any of the securities held by a sub-fund or if the value as determined pursuant to the points above is

not representative of the fair market value of the relevant securities, the value of such securities is based on the reasonably foreseeable sales price

determined prudently and in good faith. Short-term Money-Market Instruments are valued based on amortised cost method.

The financial statements have been prepared on the basis of the last net asset values determined in the accounting period. In accordance with the

Prospectus, net asset values were calculated by reference to the latest available prices at 10.00 am (Dublin time) on 31 August 2010.





- Invesco Emerging Europe Equity Fund: an increase in the Net Asset Value of about 1.48% would have been observed.- Invesco Latin American Equity Fund: an increase in the Net Asset Value of about 1.14% would have been observed.

(d) Cost of sales of investmentsAny surplus or deficit on sales of investments is determined on the basis of average cost.

(e) Income from investmentsDividend income is accounted for on an ex-dividend basis. Income arising on fixed interest securities and deposit interest is accrued on a day-to-day

basis.



294 Invesco Funds

2. Summary of Significant Accounting Policies (continued)

(f) Foreign exchangeTransactions in currencies other than the designated currency for each sub-fund are translated at the rates of exchange ruling at the time of the

transactions. The market value of the investments and other assets and liabilities in currencies other than the designated currency for each

sub-fund are translated at the rates of exchange ruling at the period end.

The principle exchange rates used at 31 August 2010:

Currency USD 1.00 Currency USD 1.00


(g) Expenses allocationWhere the Fund incurs an expense which relates to a particular sub-fund, such expense is allocated to the relevant sub-fund. In cases where an

expense cannot be considered as being attributable to a particular sub-fund, such expense is allocated between sub-funds on the basis of their

respective Net Asset Values.

(h) Preliminary expensesThe preliminary expenses will be amortised over the first 5 years. Sub-funds launched from 2006 onwards are subject to a maximum amortisation

in any accounting year of 0.05% of the average net asset value. Any unamortised expenses at the end of the 5 years or liquidation date, will be

borne by the Management Company.

(i) Forward foreign exchange contractsThe unrealised gain or loss on open forward foreign exchange contracts is calculated as the difference between the contracted rate and the rate to

close out the contract and is disclosed in the Statement of Net Assets (see note 7 for details). Realised gains or losses include net results on

contracts which have been settled or offset on other contracts and are recorded in the Statement of Operations and Changes in Net Assets

(disclosed at year end only).

(j) Futures contractsDerivative financial instruments are initially recognised at cost and subsequently are re-measured at market value. Market values are obtained from

quoted market prices and exchange rates. All derivatives are carried in assets when amounts are receivable by the Fund and in liabilities when

amounts are payable by the Fund. Changes in market values of future contracts are included in the Statement of Net Assets (see note 8 for

details).

(k) Credit default swapsA credit default swap is a credit derivative transaction in which two parties enter into an agreement, whereby one party pays the other a fixed

periodic coupon for the specified life of the agreement. The other party makes no payments unless a credit event, relating to a predetermined

reference asset occurs. If such an event occurs, the party will then make a payment to the first party and the swap will terminate. The credit

default swaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 9 for

details).

(l) Interest rate swapsAn interest rate swap is a bilateral agreement in which each of the parties agrees to exchange a series of interest payments for another series of

payments (usually fixed/floating) based on a notional amount that serves as a computation basis and that is usually not exchanged. The interest

rate swaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 10 for

details).

(m) Equity swapsAn Equity Swap is a derivative transaction in which the Fund and the counterparty enter into an agreement whereby one party pays the returns

generated by an equity or a basket of equities. The other party pays interest based on the agreed notional amount of the transaction. Interest

received/paid on Equity swaps are recorded as other income/other expenses in the Statement of Operations and Changes in Net Assets (disclosed

at year end only). The value of equity swap transactions is the net present value of all cash flows, both inflows and outflows. Equity swaps are

recorded in the Statement of Net Assets (see note 11 for details).



295 Invesco Funds

3. Management and Investment Advisor Fees

The Directors of the Fund (the “Directors”) are responsible for the investment policy, management and administration of the Fund. The Directors

delegate the day-to-day investment management of the securities portfolio of the Fund to Invesco Management S.A., (the “Management Company”).

In following the investment policy of the Directors, the Management Company seeks investment advice from, as appropriate, Invesco Asset

Management Limited in the United Kingdom, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers in the

United States, Invesco Institutional in Canada and Invesco Asset Management Deutschland GmbH in Germany.

For its services the Management Company is paid by the Fund a percentage of the Net Asset Value of each sub-fund as set out in the table below:

Sub-fund Management Management Management Management Management Fee Fee Fee Fee Fee

Class A Class B Class B1 Class C Class E(includes a 1%

Distribution fee)




















The management fees are calculated daily based on the Net Asset Value of each sub-fund on each business day and paid monthly. The fees of the

Investment Adviser are paid out of the Manager's remuneration.

For the period under review, the Management Company partially waived the management fee for the Invesco USD Reserve Fund and Invesco Euro

Reserve Fund. This waiver applies equally across all share classes.

There is no annual management fee for “I” Shares.



296 Invesco Funds

4. Other FeesThe Manager is paid an additional fee by each Fund (the "Service Agent Fee"). The Service Agent Fee for A and E Shares shall not exceed 0.4% for

Equity Funds or Theme Funds, 0.27% for Bond Funds, 0.20% for the Structured Funds, 0.13% for Reserve Funds 0.35% for Invesco Asia Balanced

Fund and .40% for Invesco Pan European High Income Fund and Invesco Global Absolute Return Fund of the Net Asset Value of each Fund. The

Service Agent Fee for B, B1 and C Shares shall not exceed 0.30% for Equity Funds and Theme Funds, 0.10% for Reserve Funds, 0.20% for Bond

Funds (except for Invesco Euro Inflation-Linked Bond Fund which shall not exceed 0.10%), 0.15% for Structured Funds and 0.30% for the Mixed

Funds of the Net Asset Value of each Fund. Out of this Service Agent Fee, the Manager discharges the fees of the Administration Agent, the

Domiciliary & Corporate Agent and the Registrar & Transfer Agent as well as fees of service providers and fees incurred in places where the Fund is

registered. Each of these fees shall be calculated on each Business Day on the Net Asset Value of the Fund (at a rate which shall be agreed from time

to time with the Manager) and paid monthly. Additionally, the Manager reimburses the expenses of the Fund's Hong Kong Representative.

In its capacity as Custodian, The Bank of New York Mellon (International) Limited is entitled to a remuneration ("Custodian fee") in accordance with

normal banking practice in Luxembourg at rates agreed from time to time with the Fund, but which shall not exceed 0.2% (except Invesco Asia

Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund and Invesco Asia Consumer Demand Fund which shall not exceed 0.3%) per

annum of the Net Asset Value of the Fund. The Custodian fee is calculated daily and paid monthly. In addition, the Custodian may also charge fees

for transaction charges on each sub-fund.

For the period under review, the Management Company has agreed at it's discretion to pay the Operational Expenses charged to the Invesco USD

Reserve Fund and the Invesco Euro Reserve Fund.

The Management Company has agreed to cap operational expenses charged to the following sub-funds at its discretion, at the following rates:












5. Tax StatusThe Fund is registered under Luxembourg law as a collective investment undertaking. Accordingly, no Luxembourg income or capital gains tax is at

present payable by the Fund. It is, however, subject to an annual “taxe d’abonnement” calculated at an annual rate of 0.05% of the Net Asset

Value. The two Reserve Funds and “I” share classes are subject to a reduced annual rate of 0.01% of the Net Asset Value, such tax being payable

quarterly on the basis of the Net Asset Value of the Funds at the end of the relevant quarter.

6. DividendsIn accordance with the distribution policy of the Fund, income is distributed by way of a dividend payment, only to holders of Class A and Class C

Shares (Distribution Shares).

Invesco Emerging Local Currencies Debt Fund, Class A monthly distributing share class pays a distribution based on yield fixed annually by the

Board of Directors. For the period from 1 March 2010 to 31 August 2010, the yield was set at 6.5%. As at 31 August 2010, $819,158 of

management fees and other fees and expenses were charged against capital instead of against income of the Share class for the period under

review. Consequently, the Board of Directors adjusted the yield to 5.50% from 31 October 2010.

The income due to shareholders of Class A, Class C, Class E and Class I Shares (Accumulation Shares) is reinvested to enhance the value of Class

A, Class C, Class E and Class I Shares.


Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semi Annual 31 August 2010* 21 September 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semi Annual 31 August 2010* 21 September 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semi Annual 31 August 2010* 21 September 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Quarterly 31 May 2010 21 June 2010A Dist 0.0206 Quarterly 31 August 2010* 21 September 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semi Annual 31 August 2010* 21 September 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semi Annual 31 August 2010* 21 September 2010

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Monthly 31 March 2010 21 April 2010A Dist 0.0291 Monthly 30 April 2010 21 May 2010A Dist 0.0310 Monthly 31 May 2010 21 June 2010A Dist 0.0295 Monthly 30 June 2010 21 July 2010A Dist 0.0310 Monthly 30 July 2010 23 August 2010A Dist 0.0299 Monthly 31 August 2010* 21 September 2010



297 Invesco Funds

6. Dividends (continued)


Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Quarterly 31 May 2010 21 June 2010A Dist 0.0074 Quarterly 31 August 2010* 21 September 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Monthly 31 March 2010 21 April 2010A Dist USD 0.0638 Monthly 30 April 2010 21 May 2010A Dist USD 0.0602 Monthly 31 May 2010 21 June 2010A Dist USD 0.0603 Monthly 30 June 2010 21 July 2010A Dist USD 0.0628 Monthly 30 July 2010 23 August 2010A Dist USD 0.0630 Monthly 31 August 2010* 21 September 2010A Dist EUR 0.0207 Monthly # 31 August 2010* 21 September 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Monthly 31 May 2010 21 June 2010A Dist 0.0370 Monthly 30 June 2010 21 July 2010A Dist 0.0197 Monthly 30 July 2010 23 August 2010A Dist 0.0308 Monthly 31 August 2010* 21 September 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Quarterly 31 May 2010 21 June 2010A Dist 0.2063 Quarterly 31 August 2010* 21 September 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Quarterly 31 May 2010 21 June 2010A Dist 0.1153 Quarterly 31 August 2010* 21 September 2010

* Distributions with an ex date 31 August 2010 and pay date 21 September 2010 have not been reflected in the Financial Statements.# The first distribution was 31 August 2010.

7. Forward Foreign Exchange Contracts

Forward foreign exchange contracts open at 31 August 2010 were as follows;

Invesco Global Structured Equity Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,653 USD to Sell 1,288 EUR 20 07/09/2010Buy 3,010 USD to Sell 1,933 GBP 26 07/09/2010Buy 260,000 SEK to Sell 34,875 USD 259 15/09/2010Buy 100,000 GBP to Sell 151,672 USD 2,640 15/09/2010Buy 423,843 USD to Sell 270,000 GBP 7,200 15/09/2010Buy 340,000 AUD to Sell 294,049 USD 8,063 15/09/2010Buy 820,000 CHF to Sell 779,586 USD 25,946 15/09/2010Buy 220,000,000 JPY to Sell 2,570,078 USD 38,228 15/09/2010Buy 4,151,492 USD to Sell 4,280,000 CAD 112,893 15/09/2010


Buy 6,433,478 USD to Sell 587,200,002 JPY (528,324) 15/09/2010Buy 2,093,121 USD to Sell 2,340,000 CHF (205,592) 15/09/2010Buy 2,662,213 USD to Sell 1,800,000 GBP (115,408) 15/09/2010Buy 2,951,280 USD to Sell 2,400,000 EUR (92,298) 15/09/2010Buy 2,143,847 USD to Sell 2,500,000 AUD (77,568) 15/09/2010Buy 768,305 USD to Sell 6,000,000 SEK (42,501) 15/09/2010Buy 750,000 EUR to Sell 985,920 USD (34,802) 15/09/2010Buy 1,200,000 CAD to Sell 1,161,871 USD (29,554) 15/09/2010Buy 300,000 GBP to Sell 473,913 USD (10,976) 15/09/2010Buy 2,450,000 SEK to Sell 340,918 USD (9,839) 15/09/2010Buy 670,000 AUD to Sell 603,275 USD (7,936) 15/09/2010Buy 95,268 EUR to Sell 125,679 USD (4,864) 07/09/2010Buy 84,081 GBP to Sell 133,690 USD (3,935) 07/09/2010Buy 591 USD to Sell 468 EUR (3) 07/09/2010Buy 1,254 USD to Sell 813 GBP (2) 07/09/2010



Invesco US Structured Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 30,948 USD to Sell 24,096 EUR 391 07/09/2010







298 Invesco Funds


Invesco US 130/30 Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 5,695 USD to Sell 4,432 EUR 73 07/09/2010

Total unrealised gain on open forward foreign exchange contracts 73Buy 94,953 EUR to Sell 125,198 USD (4,779) 07/09/2010Buy 4,307 USD to Sell 3,405 EUR (12) 07/09/2010



Invesco Latin America Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,982 USD to Sell 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,720 USD to Sell 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 24,329 USD to Sell 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 35,067 EUR to Sell 44,300 USD 171 07/09/2010Buy 20,513 USD to Sell 15,953 EUR 281 07/09/2010





Invesco Energy Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 371,151 EUR to Sell 468,867 USD 1,813 07/09/2010Buy 1,798,149 USD to Sell 1,375,050 EUR 54,361 07/09/2010





Invesco Emerging Markets Quantitative Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 3,149 USD to Sell 2,019 GBP 32 07/09/2010Buy 6,287 USD to Sell 4,901 EUR 74 07/09/2010




299 Invesco Funds


Invesco Emerging Markets Quantative Equity Fund (continued) UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 111,759 EUR to Sell 147,355 USD (5,626) 07/09/2010Buy 46,676 GBP to Sell 74,201 USD (2,169) 07/09/2010Buy 1,649 USD to Sell 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 34,929 USD to Sell 27,239 EUR 386 07/09/2010





Invesco Global Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,566,000 USD to Sell 1,000,000 GBP 23,292 25/10/2010Buy 3,862,220 USD to Sell 3,000,000 EUR 57,761 20/09/2010

Total unrealised gain on open forward foreign exchange contracts USD 81,053

Invesco European Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 650,000 GBP to Sell 786,378 EUR 4,379 29/10/2010Buy 3,283,628 EUR to Sell 2,690,000 GBP 11,109 29/10/2010


Buy 410,132 EUR to Sell 340,000 GBP (3,495) 29/10/2010Buy 540,000 GBP to Sell 660,244 EUR (3,307) 29/10/2010



Invesco Absolute Return Bond Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 320,000 TRY to Sell 208,727 USD 172 08/09/2010Buy 70,000 GBP to Sell 84,925 EUR 257 08/09/2010Buy 324,465 EUR to Sell 1,300,000 PLN 287 08/09/2010Buy 4,130,000 CNY to Sell 606,283 USD 522 10/12/2010Buy 386,972 USD to Sell 12,000,000 RUB 827 10/12/2010Buy 88,921 GBP to Sell 107,302 EUR 906 07/09/2010Buy 40,700,000 PHP to Sell 893,916 USD 1,307 17/09/2010Buy 930,000 PEN to Sell 331,669 USD 1,654 10/12/2010Buy 451,905 EUR to Sell 370,000 GBP 1,658 08/09/2010Buy 212,198 USD to Sell 1,550,000 ZAR 2,036 08/09/2010Buy 821,073 EUR to Sell 1,100,000 CAD 2,507 08/09/2010Buy 432,051 USD to Sell 20,220,000 INR 2,730 17/09/2010Buy 223,350,000 HUF to Sell 773,283 EUR 3,114 08/09/2010Buy 1,327,629 USD to Sell 9,000,000 CNY 3,935 10/12/2010Buy 468,089 USD to Sell 555,410,000 KRW 3,965 08/09/2010Buy 810,000 USD to Sell 632,996 EUR 5,724 08/09/2010Buy 1,470,000 PEN to Sell 517,606 USD 6,794 17/09/2010Buy 3,310,000 ILS to Sell 856,249 USD 7,686 07/09/2010Buy 19,250,000 PHP to Sell 414,246 USD 7,696 08/09/2010Buy 224,454 USD to Sell 257,000,000 KRW 8,117 17/09/2010Buy 714,177 EUR to Sell 5,650,000 NOK 8,626 08/09/2010Buy 2,900,000 ARS to Sell 719,782 USD 8,771 17/09/2010Buy 5,650,000 NOK to Sell 696,661 EUR 8,890 08/09/2010Buy 9,810,000 SEK to Sell 1,035,203 EUR 10,256 08/09/2010Buy 2,550,000 ZAR to Sell 331,143 USD 10,810 08/09/2010Buy 650,000 CHF to Sell 492,297 EUR 11,184 08/09/2010Buy 1,360,000 MYR to Sell 418,311 USD 11,467 17/09/2010Buy 857,135 USD to Sell 3,220,000 ILS 11,592 08/09/2010Buy 1,830,986 USD to Sell 12,350,000 CNY 13,630 27/09/2010Buy 626,415 EUR to Sell 770,000 USD 19,238 08/09/2010Buy 1,124,433 EUR to Sell 317,450,000 HUF 20,931 08/09/2010Buy 2,720,000 PLN to Sell 657,188 EUR 21,092 08/09/2010Buy 705,629 EUR to Sell 3,310,000 ILS 22,756 07/09/2010Buy 37,800,000 JPY to Sell 418,073 USD 23,693 08/09/2010




300 Invesco Funds


Invesco Absolute Return Bond Fund (continued) Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 4,224,053 EUR to Sell 5,560,799 USD (160,871) 08/09/2010Buy 2,442,312 EUR to Sell 274,750,000 JPY (126,098) 08/09/2010Buy 845,791 USD to Sell 40,690,000 PHP (39,083) 17/09/2010Buy 977,979 EUR to Sell 25,050,000 CZK (31,517) 08/09/2010Buy 1,022,162 EUR to Sell 9,810,000 SEK (23,297) 08/09/2010Buy 12,350,000 CNY to Sell 1,841,223 USD (21,702) 27/09/2010Buy 4,630,000 MXN to Sell 295,998 EUR (18,594) 08/09/2010Buy 1,488,037 USD to Sell 2,050,000 SGD (18,517) 08/09/2010Buy 662,872 EUR to Sell 2,730,000 PLN (17,901) 08/09/2010Buy 1,650,771 EUR to Sell 1,370,000 GBP (16,357) 08/09/2010Buy 13,340,000 CNY to Sell 1,978,158 USD (13,969) 10/12/2010Buy 499,207 EUR to Sell 660,000 CHF (12,021) 08/09/2010Buy 94,100,000 HUF to Sell 339,062 EUR (11,957) 08/09/2010Buy 420,968 USD to Sell 36,700,000 JPY (11,127) 08/09/2010Buy 12,000,000 RUB to Sell 400,000 USD (11,102) 10/12/2010Buy 709,677 USD to Sell 363,000,000 CLP (9,659) 10/12/2010Buy 257,000,001 KRW to Sell 224,454 USD (8,117) 17/09/2010Buy 303,178 USD to Sell 1,240,000 ARS (7,370) 17/09/2010Buy 434,751 EUR to Sell 4,140,000 ZAR (6,736) 08/09/2010Buy 270,000 USD to Sell 219,129 EUR (6,223) 08/09/2010Buy 2,050,000 SGD to Sell 1,197,080 EUR (5,185) 08/09/2010Buy 3,220,000 ILS to Sell 848,740 USD (4,972) 08/09/2010Buy 58,000,000 KZT to Sell 396,717 USD (2,758) 17/09/2010Buy 555,400,001 KRW to Sell 466,091 USD (2,396) 08/09/2010Buy 415,252 USD to Sell 470,000 AUD (2,173) 08/09/2010Buy 431,198 USD to Sell 1,360,000 MYR (1,305) 17/09/2010Buy 20,220,000 INR to Sell 429,208 USD (488) 17/09/2010Buy 208,877 USD to Sell 320,000 TRY (54) 08/09/2010



Invesco Euro Inflation-Linked Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,710,547 EUR to Sell 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,400,000 EUR to Sell 1,137,724 GBP 12,693 01/09/2010Buy 5,806,757 GBP to Sell 6,920,000 EUR 120,409 01/09/2010Buy 3,040,390 GBP to Sell 4,430,000 USD 169,917 01/09/2010


Buy 32,236 EUR to Sell 40,722 USD 158 07/09/2010Buy 1,113,406 USD to Sell 863,577 EUR 18,249 07/09/2010Buy 3,056,400 TRY to Sell 1,946,628 USD 37,386 12/10/2010Buy 9,767,450 SGD to Sell 7,052,310 USD 149,432 12/10/2010Buy 464,999,999 PHP to Sell 10,000,000 USD 220,603 27/09/2010Buy 226,555,000 THB to Sell 6,990,281 USD 246,472 06/10/2010



Invesco Emerging Local Currencies Debt Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 32,236 EUR to Sell 40,722 USD 158 07/09/2010Buy 1,113,406 USD to Sell 863,577 EUR 18,249 07/09/2010Buy 3,056,400 TRY to Sell 1,946,628 USD 37,386 12/10/2010Buy 9,767,450 SGD to Sell 7,052,310 USD 149,432 12/10/2010Buy 464,999,999 PHP to Sell 10,000,000 USD 220,603 27/09/2010Buy 226,555,000 THB to Sell 6,990,281 USD 246,472 06/10/2010


Buy 34,047,913 EUR to Sell 44,675,847 USD (1,497,502) 07/09/2010Buy 11,030,760 USD to Sell 9,000,000 EUR (382,720) 07/09/2010Buy 87,763,000 CNY to Sell 13,000,000 USD (106,354) 12/11/2010Buy 89,820,000 RUB to Sell 3,000,000 USD (102,851) 08/11/2010Buy 33,725,000 CNY to Sell 5,000,000 USD (45,091) 19/11/2010Buy 22,262,499,999 IDR to Sell 2,500,000 USD (37,399) 03/09/2010Buy 2,400,000 USD to Sell 7,568,400 MYR (7,113) 27/09/2010


Total net unrealised loss on open forward foreign exchange contracts USD (1,506,730)



301 Invesco Funds


Invesco Global Investment Grade Corporate Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 132,231 USD to Sell 84,861 GBP 1,264 01/09/2010Buy 1,154,570 USD to Sell 745,000 GBP 5,527 01/12/2010Buy 170,000 GBP to Sell 254,124 USD 8,237 01/09/2010Buy 4,625,638 USD to Sell 3,640,000 EUR 10,196 01/12/2010Buy 585,000 EUR to Sell 718,458 USD 23,422 01/09/2010Buy 1,755,679 USD to Sell 1,340,000 EUR 56,331 01/09/2010


Buy 4,186,915 EUR to Sell 5,523,484 USD (213,788) 07/09/2010Buy 3,727,116 USD to Sell 3,035,000 EUR (121,783) 01/09/2010Buy 1,201,799 USD to Sell 830,000 GBP (79,141) 01/09/2010Buy 150,000 EUR to Sell 194,808 USD (4,582) 01/09/2010Buy 89,554 GBP to Sell 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 1,339,464 GBP to Sell 1,600,001 EUR 24,518 20/09/2010


Buy 43,600 GBP to Sell 70,000 CHF (966) 20/09/2010Buy 81,321 EUR to Sell 67,528 GBP (702) 07/09/2010



Invesco Capital Shield 90 (EUR) Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 100,000 GBP to Sell 121,631 EUR 51 15/09/2010Buy 834,387 EUR to Sell 685,000 GBP 864 15/09/2010Buy 55,899,999 JPY to Sell 512,379 EUR 10,226 15/09/2010


Buy 26,269,838 EUR to Sell 33,850,000 USD (422,432) 15/09/2010Buy 1,267,656 EUR to Sell 138,700,001 JPY (29,043) 15/09/2010Buy 33,500,000 JPY to Sell 313,994 EUR (804) 15/09/2010Buy 121,242 EUR to Sell 100,000 GBP (441) 15/09/2010Buy 95,000 GBP to Sell 115,858 EUR (260) 15/09/2010



Invesco Asia Balanced Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 526,707 USD to Sell 412,508 EUR 3,579 07/09/2010







302 Invesco Funds


Invesco Pan European High Income Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 2,265,144 EUR to Sell 1,850,000 GBP 14,527 29/10/2010


Buy 1,789,848 EUR to Sell 1,500,000 GBP (35,322) 20/09/2010Buy 709,161 EUR to Sell 600,000 GBP (20,871) 27/09/2010Buy 656,403 EUR to Sell 550,000 GBP (12,859) 13/09/2010Buy 140,741 EUR to Sell 190,000 CHF (6,525) 16/11/2010Buy 2,608,938 EUR to Sell 2,150,000 GBP (6,438) 16/11/2010Buy 1,573,787 EUR to Sell 2,000,000 USD (3,414) 29/10/2010Buy 120,642 EUR to Sell 100,000 GBP (1,022) 12/10/2010Buy 303,693 EUR to Sell 250,000 GBP (450) 25/10/2010



Invesco Global Absolute Return Fund UnrealisedDetails of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 528 EUR to Sell 669 USD 1 07/09/2010Buy 74,532 EUR to Sell 100,000 CAD 108 01/09/2010Buy 68,262 USD to Sell 51,815 EUR 2,013 07/09/2010Buy 5,000,000 JPY to Sell 43,881 EUR 2,855 01/09/2010Buy 1,200,000 USD to Sell 935,490 EUR 10,755 01/09/2010Buy 900,000 GBP to Sell 1,080,049 EUR 15,206 01/09/2010


Buy 1,986,806 EUR to Sell 2,600,000 USD (63,392) 01/09/2010Buy 736,761 EUR to Sell 1,000,000 CHF (37,775) 01/09/2010Buy 279,831 EUR to Sell 31,000,000 JPY (9,935) 01/09/2010Buy 1,300,000 CAD to Sell 973,492 EUR (5,976) 01/09/2010Buy 614,170 EUR to Sell 800,000 CHF (5,620) 01/10/2010Buy 700,000 GBP to Sell 855,327 EUR (3,644) 01/10/2010Buy 334,271 EUR to Sell 36,000,000 JPY (2,355) 01/10/2010Buy 156,981 EUR to Sell 200,000 USD (730) 01/10/2010Buy 73,919 EUR to Sell 100,000 CAD (506) 01/09/2010Buy 121,551 EUR to Sell 100,000 GBP (144) 01/09/2010Buy 594 EUR to Sell 764 USD (8) 07/09/2010Buy 600,000 CAD to Sell 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund Unrealised Details of Forward Foreign Exchange Contracts Gain/(Loss) Maturity DateBuy 122,772 GBP to Sell 148,129 EUR 1,272 07/09/2010Buy 136,947 USD to Sell 103,941 EUR 4,048 07/09/2010Buy 8,703,663 EUR to Sell 10,702,000 USD 264,717 03/09/2010


Buy 3,347,000 USD to Sell 2,672,478 EUR (33,238) 03/09/2010Buy 860,684 EUR to Sell 1,100,000 USD (6,710) 03/09/2010Buy 1,425 GBP to Sell 1,740 EUR (6) 07/09/2010



8. Futures ContractsDescription Number of Contracts Commitment in Long/Short Unrealised


Invesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Long (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Long (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Long (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Long (2,854)








303 Invesco Funds








Total unrealised loss on futures contracts USD (201,003)








US 10 Year Note Future 21/12/2010 (11) (1,092,052) Short (566)Long Gilt Future 29/12/2010 (6) (912,789) Short (3,345)Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Short (29,059)Euro Bobl Future 08/09/2010 (60) (7,236,900) Short (118,200)








Total unrealised gain on futures contracts 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Short (28,201)US 10 Year Note Future 21/12/2010 (29) (2,343,750) Short (1,753)Long Gilt Future 29/12/2010 (6) (750,060) Short (1,440)


Total net unrealised loss on futures contracts GBP (30,420)

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Short 719Canada 10 Year Bond Future 20/12/2010 2 237,398 Long 817Euro Schatz Future 08/09/2010 3 403,862 Long 1,23510 Year Mini JGB Future 08/09/2010 2 308,414 Long 5,034Euro Bobl Future 08/09/2010 2 296,765 Long 5,039US Long Bond (CBT) Future 21/12/2010 6 802,875 Long 5,719US 5 Year Note Future 31/12/2010 60 7,193,250 Long 12,609


US 10 Year Note Future 21/09/2010 (53) (6,473,914) Short (219,406)US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Short (914)





304 Invesco Funds




Total unrealised gain on futures contracts 1,568,968


Total unrealised loss on futures contracts (2,806,970)











Total net unrealised gain on futures contracts EUR 122,395



in sub-fundBase Ccy

Invesco Absolute Return Bond FundPurchase Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684


Invesco Global Unconstrained Bond FundPurchase Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196

Total unrealised gain on credit default swaps 2,196

Sale French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

Sale Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

Sale Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Total unrealised loss on credit default swaps (35,563)

Total net unrealised loss on credit default swaps GBP (33,367)



305 Invesco Funds

9. Credit Default Swaps (continued)

Purchase/Sale Denomination Deal Expiry Nominal Currency Unrealisedof protection Spread Date Value value Gain/(Loss) in

sub-fund Base CcyInvesco Pan European High Income FundSale Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411Sale British Energy 4.55% 20/03/2013 300,000 EUR 30,869Purchase Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145


10. Interest Rate Swaps There were no interest rate swaps held on any fund as at the period end, 31 August 2010.

11. Equity Swaps

Invesco US 130/30 Equity FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352





306 Invesco Funds


Invesco US 130/30 Equity Fund (continued)Underlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyGoldman Sachs Group Inc 100 USD 14,776 0.38% (1,111)

Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)



Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)


Pfizer Inc 4,700 USD 75,341 1.96% (846)




ProLogis (300) USD (3,060) (0.08%) (167)




Total net unrealised loss on equity swaps USD (8,376)

Invesco Pan European 130/30 Equity FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAir France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178


Actelion Ltd (2,548) CHF (103,092) (1.63%) (5,342)Anglo American Plc 1,167 GBP 31,299 0.79% (5,878)Atkins WS Plc 7,278 GBP 50,143 1.28% (41)Barclays Plc 8,146 GBP 24,992 0.63% (1,282)BHP Billiton Plc 3,912 GBP 74,758 1.88% (6,394)British Land Co Plc 2,707 GBP 12,596 0.32% (648)BT Group Plc 60,437 GBP 84,491 2.13% (6,067)Compass Group Plc 15,159 GBP 80,707 2.06% (228)Credit Suisse Group AG 157 CHF 7,153 0.11% (180)Galp Energia SGPS SA (2,516) EUR (31,136) (0.65%) (830)HSBC Holdings Plc 18,828 GBP 122,457 3.09% (4,102)Indra Sistemas SA (6,705) EUR (86,083) (1.80%) (746)Investec Plc 1,721 GBP 8,471 0.21% (622)K & S AG (1,890) EUR (74,287) (1.55%) (2,835)Lonza Group AG (1,335) CHF (104,597) (1.57%) (5,481)Next Plc 3,658 GBP 78,720 1.99% (8,273)



307 Invesco Funds


Invesco Pan European 130/30 Equity Fund (continued)Underlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyOrkla ASA (12,031) NOK (579,894) (1.54%) (4,536)Roche Holding AG 256 CHF 40,115 0.60% (3,613)Royal Dutch Shell Plc 'A' Shares 5,805 GBP 104,375 2.63% (6,174)Royal Dutch Shell Plc 'B' Shares 4,477 GBP 77,049 1.94% (3,862)Schroders Plc 760 GBP 10,374 0.26% (80)Stagecoach Group Plc 25,235 GBP 46,962 1.19% (4,715)Syngenta AG (405) CHF (94,431) (1.52%) (170)Tullow Oil Plc (546) GBP (6,339) (0.16%) (199)Verbund AG (2,504) EUR (68,635) (1.44%) (858)Whitbread Plc 227 GBP 3,375 0.09% (282)


Total net unrealised gain on equity swaps EUR 65,683

Invesco Global Absolute Return FundUnderlying Quantity of Currency Commitment Commitment Unrealisedequities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the Fund sub-fund Base CcyAbertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294






BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915














Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391







308 Invesco Funds



shares of the Fund sub-fund Base CcyHubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925



Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314




Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104















309 Invesco Funds



shares of the Fund sub-fund Base CcyTerex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162









AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)


Amgen Inc 776 USD 41,066 0.70% (829)












Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)






310 Invesco Funds



shares of the Fund sub-fund Base CcyFrontline Ltd 1,187 NOK 223,275 0.61% (3,301)

Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)










K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)






Masco Corp 1,698 USD 19,069 0.32% (1,094)










Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)








311 Invesco Funds



shares of the Fund sub-fund Base CcyRalcorp Holdings Inc (600) USD (33,288) (0.57%) (1,794)






Rhodia SA 1,221 EUR 18,724 0.41% (757)




Sara Lee Corp 907 USD 13,052 0.22% (34)



Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)




SKF AB 1,529 SEK 209,448 0.48% (895)











Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)


Toro Co 400 USD 20,128 0.34% (200)





TUI AG 2,338 EUR 18,849 0.41% (539)


USS Co Ltd 180 JPY 1,148,400 0.22% (296)






Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Total net unrealised loss on equity swaps EUR (78,570)

12. Swing Pricing PolicySecurities are valued as outlined in note 2(b). However, in order to mitigate the effects of dilution, the Fund has implemented a policy of "Swing

Pricing" as from December 18, 2007.

In the best interest of Shareholders, the Directors may allow for the net asset value to be adjusted, using bid or ask market quotation rather than

mid, depending on the net share activity arising from subscriptions, redemptions or switching in a sub-fund for a given business day.

The sub-funds operate partial swing only. That is the sub-funds will not swing to either a bid or ask price basis daily, but only when a pre

determined level of shareholder activity is exceeded. High redemption level triggers a swing to a bid price basis, whereas high subscription level

triggers a swing to ask price basis. The Directors have the ability to place a sub-fund on constant swing depending on the recent trends in a

subfund.



312 Invesco Funds

12. Swing Pricing Policy (continued)The reconciliation on 31 August 2010 of MID to BID/ASK pricing is as follows:






ASK Pricing





13. Changes in InvestmentsA list, specifying for each investment the total purchases and sales which occurred during the period under review, may be obtained, upon request

and free of charge, at the Registered Office and the Hong Kong Representative Office of the Fund.

14. Distributor StatusCertification as a "distributing fund" under the United Kingdom Income and Corporation Taxes Act 1988 for the purposes of UK taxation wassought and gained for the year ended 28 February 2010 for A and C Distribution Share Classes of the following Funds (where applicable);


15. Stock Lending The Fund entered into a stock lending agreement with State Street in November 2007.

There were no securities on loan at 31 August 2010.

Security lending income is recorded under “Other Income” in the Statement of Operations and Changes in Net Assets (disclosed at year end only).

16. Soft Commissions & Related Party Transactions

Certain subsidiaries of Invesco Ltd. (“the Group”) consistent with obtaining the best net result, including best execution, may enter into agreementswith counterparties whereby those counterparties may make payments for investment services provided to the Group.

Investment services are used by the Group to improve or add to the services provided to its clients. Although each and every service may not be usedto service each and every account managed by the Group, the Group considers that those investment services received are, in the aggregate, ofsignificant assistance in fulfilling its investment responsibilities and are of demonstrable benefit to all clients. Only services that assist in the provisionof investment services to the Group’s clients will be paid for by counterparties.

Allowable investment services include services that provide assistance to the Group in its investment performance. Those services include, but are notnecessarily limited to, furnishing analysis, research and advisory services including economic factors and trends, portfolio valuation and analysis,performance measurement, market prices services and the use of specialised computer software and hardware or other information facilities.

The Group will ensure adherence to its investment decision making responsibilities to its clients in accordance with the laws of the countries that havejurisdiction over its clients or business. This may vary in application with respect to the appropriateness of those investment services provided.

The Group selects counterparties to execute transactions on the basis that transactions will only be executed provided the placing of orders will notoperate against the best interest of the Group’s clients and that the multiple is at a level which is generally accepted market practice. The Group willendeavour to obtain best execution on all transactions for all clients.

In addition, clients may direct the Group to pay commission to counterparties for products and services that would otherwise have to be paid for. Insuch cases, the commission is used for the exclusive benefit of the client whose transactions generated that commission.

The Group will endeavour to maintain the highest possible regulatory standards worldwide.



313 Invesco Funds

Note al Rendiconto Finanziario

1. Informazioni generaliInvesco (la "SICAV") è una società d'investimento costituita ai sensi della Parte I della Legge del Lussemburgo sugli investimenti collettivi del 20

dicembre 2002 come Société Anonyme qualificata come Società d'Investimento a Capitale Variabile ("SICAV"). Invesco è un fondo ad ombrello,

composto da 41 comparti considerati ciascuno come un'entità distinta. Il rendiconto finanziario allegato è stato redatto nella forma prescritta dalle

disposizioni del Lussemburgo.

(a) Invesco India (Mauritius) LimitedGli investimenti in titoli indiani sono effettuati mediante una controllata al 100% avente sede alle isole Mauritius, Invesco India (Mauritius) Limited

(la "Controllata"), il cui unico obiettivo è condurre attività di investimento per conto del comparto. La Controllata è interamente detenuta dal

comparto Invesco India Equity Fund. La Controllata è titolare di una licenza operativa globale di Categoria 1 rilasciata dalla Mauritius Offshore

Business Activities Authority ed è pertanto soggetta a un'aliquota ridotta di imposta sul reddito in Mauritius. Inoltre, non è prevista in Mauritius

alcuna imposta sulle plusvalenze in riferimento agli investimenti della Controllata in India e gli eventuali dividendi e proventi di rimborso pagati dalla

Controllata al comparto Invesco India Equity Fund sono esenti da ritenute fiscali in Mauritius.

(b) Classi di Azioni Le Azioni di alcuni comparti sono disponibili in sei classi (Classe A, Classe B, Classe B1, Classe C, Classe E e Classe I). Le Azioni di Classe A sono

disponibili senza alcun vincolo. Le Azioni di Classe B sono disponibili a clienti di distributori o intermediari nominati specificamente allo scopo di

distribuire le Azioni B ed esclusivamente in riferimento ai comparti per cui sono stati perfezionati accordi di distribuzione con tali distributori. Le

Azioni di Classe C, soggette a un importo di sottoscrizione minima iniziale superiore e commissioni di gestione inferiori, sono disponibili a tutti gli

investitori e principalmente destinate a grossi investitori o investitori istituzionali. Le Azioni di Classe E in euro hanno commissioni iniziali inferiori e

commissioni di gestione annuale superiori sia alle Azioni di Classe C che a quelle di Classe A. Anche le Azioni di Classe B1 sono disponibili

unicamente a clienti di Merrill Lynch. Le azioni di Classe I sono denominate in euro e disponibili unicamente a Investitori istituzionali che hanno

stipulato un contratto di gestione ("Institutional Management Agreement") con Invesco. All'interno di alcuni comparti, esistono classi di azioni A e

C a distribuzione, classi di azioni coperte e classi di azioni a distribuzione fissa

Alcuni comparti offrono agli investitori Classi di Azioni coperte. Per tali classi di Azioni, la SICAV può coprire l’esposizione valutaria delle classi di

Azioni denominate in una valuta diversa dalla valuta di base del comparto pertinente allo scopo di attenuare l’effetto delle fluttuazioni dei tassi di

cambio tra la valuta della classe di Azioni e la valuta base.

(c) Attività del CompartoAzioni di Classe A e C EUR coperteCon decorrenza dal 31 marzo 2010, sono state lanciate classi di azioni coperte “A” e “C” per i seguenti comparti:





Invesco Euro Reserve Fund Con decorrenza dal 31 marzo 2010, è stata lanciata una classe di azioni a distribuzione annua “A” per il comparto Invesco Euro Reserve Fund.

Invesco Energy FundCon decorrenza dal 31 marzo 2010, è stata lanciata una classe di azioni a distribuzione annua “A” per il comparto Invesco Energy Fund.

Invesco Global Absolute Return FundCon decorrenza dal 29 aprile 2010, è stata lanciata una classe di azioni coperte “C” USD per il comparto Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundCon decorrenza dal 29 aprile 2010, sono state lanciate le seguenti classi di azioni per il comparto Invesco Balanced-Risk Allocation Fund:

- classe di azioni coperte “A” USD

- classe di azioni coperte “C” USD

- classe di azioni a distribuzione annua “A”

Invesco Global Investment Grade Corporate Bond FundCon decorrenza dal 29 aprile 2010, sono state lanciate le seguenti classi di azioni per il comparto Invesco Global Investment Grade Corporate Bond Fund:

- classe di azioni ad accumulazione coperte “C” GBP

- classe di azioni a distribuzione mensile “A” USD

Invesco Global Structured Equity FundCon decorrenza dal 29 aprile 2010, sono state lanciate le seguenti classi di azioni per il comparto Invesco Global Structured Equity Fund:

- classe di azioni coperte “A” EUR

- classe di azioni coperte “C” EUR

- classe di azioni ad accumulazione coperte “C” GBP

Invesco Pan European Structured Equity FundCon decorrenza dal 29 aprile 2010, è stata lanciata una classe di azioni a distribuzione annua “A” per il comparto Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundIl comparto Invesco Gold & Precious Metals Fund è stato lanciato il 21 giugno 2010.

Invesco Global Unconstrained Bond FundIl comparto Invesco Global Unconstrained Bond Fund è stato lanciato il 21 giugno 2010.


314 Invesco Funds

Note al Rendiconto Finanziario – (segue)

1. Informazioni generali (segue)

Invesco Emerging Markets Quantitative Equity FundIl comparto Invesco Emerging Markets Quantitative Equity Fund è stato lanciato il 21 giugno 2010.

Invesco Latin American Equity FundIl comparto Invesco Latin American Equity Fund è stato lanciato l’11 agosto 2010.

Invesco Absolute Return Bond FundCon decorrenza dall’11 agosto 2010, è stata lanciata una classe di azioni coperte “C” GBP per il comparto Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundCon decorrenza dall’11 agosto 2010, è stata lanciata una classe di azioni coperte a distribuzione mensile “A” EUR per il comparto Invesco Emerging Local

Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundIl comparto Invesco Global Total Return (EUR) Bond Fund è stato lanciato il 15 settembre 2010.

Invesco Global Absolute Return FundCon decorrenza dal 15 settembre 2010, è stata lanciata una classe di azioni coperte “C” JPY per il comparto Invesco Global Absolute Return Fund.

Modifiche alla struttura organizzativa- Con decorrenza dal 1° marzo 2010, BNY Mellon (International) Limited è divenuta Agente amministrativo, Conservatore del registro e Agente per i trasferimenti

in sostituzione di RBC Dexia Investor Services Bank S.A.

- Con decorrenza dal 1° marzo 2010, BNY Mellon (International) Limited è divenuta Agente domiciliatario e societario in sostituzione di RBC Dexia Investor Services

Bank S.A.

- Con decorrenza dal 1° marzo 2010, Bank of New York Mellon Limited, Luxembourg Branch è divenuta Banca depositaria e Banca agente in sostituzione di

J.P.Morgan Bank Luxembourg S.A.

- Con decorrenza dal 1° marzo 2010, la nuova sede legale di Invesco Funds è stata fissata in 46A, Avenue John F. Kennedy, L-1855 Lussemburgo, Granducato del

Lussemburgo, in sostituzione di 69, route d’Esch, L-1470 Lussemburgo, Granducato del Lussemburgo. Con decorrenza dal 15 maggio 2010, la sede legale è

divenuta 2-4 rue Eugène Ruppert, L-2453 Lussemburgo, Granducato del Lussemburgo.

(d) PEA Disclosure (Plan d’Epargne en Actions)Dal 1° marzo al 31 agosto 2010, i comparti seguenti hanno tenuto la percentuale media, specificata nella tabella, di attività investite in strumenti finanziari idonei ai

criteri PEA, secondo quanto definito nell’Articolo L.221-31 del Code Monétaire et Financier. Ciò è richiesto a tutti i comparti registrati in Francia che rispondono ai

requisiti PEA (piano di risparmio in azioni). Vengono inoltre indicati gli investimenti percentuali massimi durante tale periodo:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Sommario dei Principi Contabili più Significativi (a) I dati consolidati presentati nel Prospetto degli Attivi Netti e nel Prospetto delle Variazioni degli Attivi Netti sono a puro scopo statistico e non

dovrebbero essere usati dagli investitori con partecipazioni in uno o più comparti.

(b) Valutazione degli investimentiGli investimenti, inclusi gli strumenti finanziari derivati, sono di norma valutati sulla base dell'ultimo prezzo di negoziazione o dell'ultima quotazione

media di mercato disponibile (la media tra i corsi denaro e lettera più recenti) dei titoli sul mercato in cui gli investimenti del Comparto sono

negoziati, quotati o scambiati al Punto di valutazione nel giorno in oggetto. Nel caso in cui gli investimenti di un Comparto siano sia quotati su una

borsa valori, sia scambiati da operatori di mercato al di fuori della borsa valori in cui gli investimenti sono quotati, la SICAV determina il mercato

principale per gli investimenti in questione, che vengono valutati all'ultimo prezzo disponibile in quel mercato. I titoli che non sono quotati o

negoziati in alcuna borsa valori, ma sono scambiati su un altro mercato regolamentato sono valutati nel modo più simile possibile a quello sopra

descritto. Qualora non sia disponibile alcuna quotazione per alcuno dei titoli detenuti da un Comparto o il valore determinato come sopra non sia

rappresentativo del valore equo di mercato dei titoli in oggetto, il valore degli stessi si baserà sui prezzi di vendita ragionevolmente prevedibili

determinati con prudenza e in buona fede.

Il bilancio è stato redatto sulla base degli ultimi valori patrimoniali netti determinati nel periodo contabile. In conformità al Prospetto informativo, ivalori patrimoniali netti sono stati calcolati in riferimento agli ultimi prezzi disponibili alle 10.00 (ora di Dublino) del giorno 31 agosto 2010. Sonostate apportate rettifiche per sottoscrizioni e rimborsi in riferimento a comparti a distribuzione, quotati ex dividendo a partire dal 31 agosto 2010.

(c) Impact of ValuesA titolo informativo, se il Fondo avesse calcolato i valori patrimoniali netti unicamente nell'ottica della pubblicazione, i prezzi di mercato usati pervalutare il portafoglio di investimenti sarebbero stati quelli di chiusura del 31 agosto 2010 per l'intero portafoglio di investimenti, inclusi i titoliazionari americani ed europei. Questi valori patrimoniali netti non sarebbero tuttavia stati significativamente diversi da quelli illustrati nel presentebilancio annuale sottoposto a revisione, a eccezione dei comparti seguenti:

- Invesco Emerging Europe Equity Fund: si sarebbe osservato un incremento del Valore patrimoniale netto pari a circa 1,48%.- Invesco Latin American Equity Fund: si sarebbe osservato un incremento del Valore patrimoniale netto pari a circa 1,14%.

(d) Costo della vendita di investimentiOgni utile o perdita sulla vendita di investimenti è determinato sulla base del costo medio.

(e) Redditi da investimentiIl reddito da dividendi è calcolato su base ex-dividendo. I proventi derivanti da titoli a reddito fisso e gli interessi sui depositi sono maturati su base

giornaliera.


315 Invesco Funds


2. Sommario dei Principi Contabili più Significativi (segue)

(f) Valuta esteraLe operazioni in valute diverse dalla valuta di espressione di ciascun comparto sono tradotte ai tassi di cambio vigenti al momento dell'operazione.

Il valore di mercato degli investimenti e degli altri attivi e passivi in valute diverse dalla valuta di espressione di ciascun comparto è tradotto ai tassi

di cambio vigenti a fine anno.

Principali tassi di cambio usati al 31 agosto 2010:

Valuta USD 1.00 Valuta USD 1.00


(g) Attribuzione delle speseQualora la SICAV sostenga una spesa relativa ad un particolare comparto, tale spesa viene attribuita al comparto interessato. Nei casi in cui una

spesa non possa essere ritenuta attribuibile ad un particolare comparto, tale spesa è ripartita tra i comparti sulla base dei rispettivi Valori

Patrimoniali Netti.

(h) Spese di avviamentoLe spese di costituzione saranno ammortizzate nell'arco dei primi 5 anni. In qualunque anno contabile, i comparti lanciati a partire dal 2006 sonosoggetti a un ammortamento massimo dello 0,05% del valore patrimoniale netto medio. Le eventuali spese non ammortizzate al termine dei 5 annio alla data di liquidazione saranno a carico della Società di gestione.

(i) Contratti di cambio a termine Gli utili o perdite non realizzati su contratti di cambio a termine aperti sono calcolati come la differenza tra il tasso del contratto e quello di

liquidazione del contratto stesso. (vedi nota 7). Gli utili o le perdite realizzati includono i risultati netti sui contratti regolati o compensati da altri

contratti e sono riportati nel Conto economico e variazioni del patrimonio netto (solo a fine esercizio).

(j) Contratti futuresGli strumenti finanziari derivati sono inizialmente riconosciuti al costo e successivamente rimisurati al rispettivo valore equo. I valori equi vengono

ottenuti dai tassi di cambio e prezzi di mercato quotati. Tutti i derivati sono riportati nelle attività quando gli importi rappresentano crediti per la

Società e nelle passività quando invece rappresentano debiti. Le variazioni nel valore equo dei contratti futures sono incluse nel Prospetto del

patrimonio netto (vedere la nota 8 per i dettagli).

(k) Credit default swapsUn credit default swap (CDS) è un'operazione su derivati di credito in cui due parti sottoscrivono un accordo in virtù del quale una parte paga

all’altra una cedola periodica fissa per la durata specificata dell’accordo. L’altra parte non effettua alcun pagamento a meno che non si verifichi un

evento di credito in relazione a un’attività di riferimento predeterminata. In caso di tale evento, la seconda parte effettuerà un pagamento alla

prima e lo swap si concluderà. I credit default swap sono contabilizzati a prezzo di mercato ogni giorno in base alle quotazioni degli operatori di

mercato e registrati nel Prospetto del patrimonio netto (vedere la nota 10 per i dettagli).

(l) Swap su tassi d’interesseUno swap su tassi d'interesse è un accordo bilaterale in cui ciascuna delle parti accetta di scambiare una serie di pagamenti di interessi con un'altra

serie di pagamenti (di norma fisso/variabile) sulla base di un importo nozionale che funge da base di calcolo e che solitamente non viene

scambiato. Gli swap su tassi d’interesse sono contabilizzati a prezzo di mercato ogni giorno in base alle quotazioni degli operatori di mercato e

registrati nel Prospetto del patrimonio netto (vedere la nota 10 per i dettagli).

(m) Equity SwapsUno swap su azioni è un'operazione in derivati in cui il Comparto e la controparte sottoscrivono un accordo in virtù del quale una parte paga i

rendimenti generati da un'azione o un paniere di azioni, mentre l'altra parte paga gli interessi in base all'importo nozionale concordato

dell'operazione. Gli interessi percepiti/pagati su swap azionari sono rilevati come altri redditi/altre spese nel Conto economico e variazioni del

patrimonio netto. Il valore delle operazioni di swap su azioni è il valore attuale netto di tutti i flussi finanziari, sia in entrata che in uscita. Gli swap

su azioni sono rilevati nello Stato patrimoniale (per dettagli vedere la nota 11).

3. Commissioni di Gestione e Consulenza per gli investimenti

Gli Amministratori del Fondo (gli "Amministratori") sono responsabili della politica di investimento, della gestione e amministrazione dello stesso.

Gli Amministratori delegano la gestione ordinaria degli investimenti del portafoglio titoli del Fondo a Invesco Management S.A. (la "Società di

gestione").


316 Invesco Funds


3. Commissioni di Gestione e Consulenza per gli investimenti (segue)Nel perseguire la politica di investimento degli Amministratori, la Società di gestione si avvale, a seconda dei casi, della consulenza per gli

investimenti fornita da Invesco Asset Management Limited nel Regno Unito, Invesco Hong Kong Limited, Invesco Asset Management (Japan)

Limited, Invesco Advisers negli Stati Uniti, Invesco Institutional in Canada e Invesco Asset Management Deutschland GmbH in Germania.

Per i servizi resi, il Gestore riceve dalla SICAV una remunerazione calcolata come percentuale del Valore Patrimoniale Netto di ciascun comparto,

secondo le aliquote riportate nella tabella seguente:

Comparto Commissione Commissione Commissione Commissione Commissione di Gestione di Gestione di Gestione di Gestione di Gestione

Classe A Classe B Classe B1 Classe C Classe E(comprende 1%

di Comm. Distribuzione)












GiapponeInvesco Nippon Small/Mid Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%







MIXED FUNDSInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75

Le commissioni di gestione sono calcolate ogni giorno lavorativo sul Valore patrimoniale netto di ogni comparto e pagate mensilmente. Le

commissioni del Consulente per gli investimenti sono pagate a valere sul compenso del Gestore.

Per il periodo in esame, la Società di gestione ha rinunciato a parte della commissione di gestione dei comparti Invesco USD Reserve Fund e

Invesco Euro Reserve Fund. Questa rinuncia si applica equamente a tutte le classi di azioni.

Non esistono commissioni di gestione annuali per le azioni “I”.


317 Invesco Funds


4. Altre CommissioniIl Gestore percepisce un’ulteriore commissione da ogni comparto (la “Commissione per l’Agente addetto ai servizi”). La Commissione per l’Agente

addetto ai servizi per le Azioni A ed E non dovrà superare le percentuali del NAV di ciascun comparto di seguito elencate: 0,40% per i comparti

azionari o tematici, 0,27% per i comparti obbligazionari, 0,20% per i comparti strutturati, 0,13% per i comparti Reserve, 0,35% per Invesco Asia

Balanced Fund e 0,40% per Invesco Pan European High Income Fund e Invesco Global Absolute Return Fund. La Commissione per l’Agente addetto ai

servizi per le Azioni B, B1 e C non dovrà superare le percentuali del NAV di ciascun comparto di seguito elencate: 0,30% per i comparti azionari e

tematici, 0,10% per i comparti Reserve, 0,20% per i comparti obbligazionari (eccettuata quella per Invesco Euro Inflation-Linked Bond Fund, che non

dovrà superare lo 0,10%), 0,15% per i comparti strutturati e 0,30% per i comparti misti. A valere su tale Commissione per l’Agente addetto ai servizi,

il Gestore paga le commissioni dell’Agente amministrativo, dell’Agente domiciliatario e societario e del Conservatore del registro e Agente per i

trasferimenti, oltre alle commissioni per i fornitori di servizi e quelle sostenute laddove il Comparto è registrato. Ciascuna di tali commissioni sarà

calcolata ogni Giorno lavorativo sul Valore patrimoniale netto del comparto (alla percentuale di volta in volta concordata con il Gestore) e pagata

mensilmente. Il Gestore rimborsa inoltre le spese del Rappresentante del comparto per Hong Kong.

In veste di Banca depositaria, The Bank of New York Mellon (International) Limited ha diritto a un compenso ("Commissione della Banca

depositaria") in conformità alla normale prassi bancaria in Lussemburgo, alle percentuali di volta in volta concordate con i comparti, che non

dovranno tuttavia superare lo 0,2% (a accezione di Invesco Asia Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund e Invesco Asia

Consumer Demand Fund, cui si applica lo 0,3% massimo) annuo del Valore patrimoniale netto del comparto. La Commissione della Banca

depositaria è calcolata giornalmente e pagata mensilmente. La Banca depositaria può inoltre addebitare commissioni per le operazioni di ciascun

comparto.

Per il periodo in esame, la Società di gestione ha accettato, a propria discrezione, di sostenere le spese operative addebitate ai comparti Invesco USD

Reserve Fund e Euro Reserve Fund.

La Società di Gestione é acconsentita a tappare le spese di opporational addebitati ai sotto-fondi di seguito alla sua discrezione, ai tassi seguenti:












5. Posizione FiscaleIl Fondo è registrato come organismo di investimento collettivo di diritto lussemburghese. Di conseguenza, al momento non è tenuto a pagare

alcuna imposta lussemburghese su utili o redditi da capitali pur essendo soggetto a un’imposta di bollo ("taxe d’abonnement") la cui aliquota

annuale è pari allo 0,05% del NAV (Valore Patrimoniale Netto). I due comparti valutari e le azioni di classe "I" sono soggetti a un’aliquota annuale

ridotta pari allo 0,01% del NAV.

6. DividendiIn conformità alla politica di distribuzione del comparto, il reddito è distribuito mediante pagamento dei dividendi, esclusivamente ai detentori di

Azioni di Classe A e di Classe C (Azioni a Distribuzione).

La classe A di azioni a distribuzione mensile del comparto Invesco Emerging Local Currencies Debt Fund paga una distribuzione sulla base di un

rendimento stabilito ogni anno dal Consiglio d'Amministrazione. Per il periodo 1 marzo 2010 - 31 agosto 2010 è stato stabilito un rendimento del

6,5%. Al 31 agosto 2010, commissioni di gestione e altre commissioni e spese per USD 819.158 sono state imputate al capitale anziché al reddito

della classe di azioni per il periodo in esame. Il Consiglio d’Amministrazione ha pertanto corretto il rendimento al 5,50% a partire dal 31 ottobre 2010.

Il reddito dovuto agli azionisti detentori di Azioni di Classe A, Classe C, Classe E e Classe I (Azioni ad Accumulazione) è reinvestito per incrementare

il valore di dette azioni.

Tipo di Azione Tasso di Frequenza di Data di Data di distribuzione distribuzione stacco cedola distribuzione

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semestrale 31 agosto 2010* 21 settembre 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semestrale 31 agosto 2010* 21 settembre 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semestrale 31 agosto 2010* 21 settembre 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Trimestrale 31 maggio 2010 21 giugno 2010A Dist 0.0206 Trimestrale 31 agosto 2010* 21 settembre 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semestrale 31 agosto 2010* 21 settembre 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semestrale 31 agosto 2010* 21 settembre 2010


318 Invesco Funds


6. Dividendi (segue)

Tipo di Azione Tasso di Frequenza di Data di Data di distribuzione distribuzione stacco cedola distribuzione

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Mensile 31 marzo 2010 21 aprile 2010A Dist 0.0291 Mensile 30 aprile 2010 21 maggio 2010A Dist 0.0310 Mensile 31 maggio 2010 21 giugno 2010A Dist 0.0295 Mensile 30 giugno 2010 21 luglio 2010A Dist 0.0310 Mensile 30 luglio 2010 23 agosto 2010A Dist 0.0299 Mensile 31 agosto 2010* 21 settembre 2010

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Trimestrale 31 maggio 2010 21 giugno 2010A Dist 0.0074 Trimestrale 31 agosto 2010* 21 settembre 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Mensile 31 marzo 2010 21 aprile 2010A Dist USD 0.0638 Mensile 30 aprile 2010 21 maggio 2010A Dist USD 0.0602 Mensile 31 maggio 2010 21 giugno 2010A Dist USD 0.0603 Mensile 30 giugno 2010 21 luglio 2010A Dist USD 0.0628 Mensile 30 luglio 2010 23 agosto 2010A Dist USD 0.0630 Mensile 31 agosto 2010* 21 settembre 2010A Dist EUR 0.0207 Mensile # 31 agosto 2010* 21 settembre 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Mensile 31 maggio 2010 21 giugno 2010A Dist 0.0370 Mensile 30 giugno 2010 21 luglio 2010A Dist 0.0197 Mensile 30 luglio 2010 23 agosto 2010A Dist 0.0308 Mensile 31 agosto 2010* 21 settembre 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Trimestrale 31 maggio 2010 21 giugno 2010A Dist 0.2063 Trimestrale 31 agosto 2010* 21 settembre 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Trimestrale 31 maggio 2010 21 giugno 2010A Dist 0.1153 Trimestrale 31 agosto 2010* 21 settembre 2010

* Distribuzioni con un ex date 31 agosto e paga data 21 settembre 2010 non sono stati reflessi nel bilancio.# La prima distibuzione era 31 il 2010 agosto.

7. Contratti di Cambio a Termine

I contratti di cambio a termine aperti al 31 agosto 2010 erano i seguenti:

Invesco Global Structured Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,653 USD in vendita a 1,288 EUR 20 07/09/2010Acquisto a 3,010 USD in vendita a 1,933 GBP 26 07/09/2010Acquisto a 260,000 SEK in vendita a 34,875 USD 259 15/09/2010Acquisto a 100,000 GBP in vendita a 151,672 USD 2,640 15/09/2010Acquisto a 423,843 USD in vendita a 270,000 GBP 7,200 15/09/2010Acquisto a 340,000 AUD in vendita a 294,049 USD 8,063 15/09/2010Acquisto a 820,000 CHF in vendita a 779,586 USD 25,946 15/09/2010Acquisto a 220,000,000 JPY in vendita a 2,570,078 USD 38,228 15/09/2010Acquisto a 4,151,492 USD in vendita a 4,280,000 CAD 112,893 15/09/2010

Totale utili non realizzati su contratti di cambio a termine apert 195,275

Acquisto a 6,433,478 USD in vendita a 587,200,002 JPY (528,324) 15/09/2010Acquisto a 2,093,121 USD in vendita a 2,340,000 CHF (205,592) 15/09/2010Acquisto a 2,662,213 USD in vendita a 1,800,000 GBP (115,408) 15/09/2010Acquisto a 2,951,280 USD in vendita a 2,400,000 EUR (92,298) 15/09/2010Acquisto a 2,143,847 USD in vendita a 2,500,000 AUD (77,568) 15/09/2010Acquisto a 768,305 USD in vendita a 6,000,000 SEK (42,501) 15/09/2010Acquisto a 750,000 EUR in vendita a 985,920 USD (34,802) 15/09/2010Acquisto a 1,200,000 CAD in vendita a 1,161,871 USD (29,554) 15/09/2010Acquisto a 300,000 GBP in vendita a 473,913 USD (10,976) 15/09/2010Acquisto a 2,450,000 SEK in vendita a 340,918 USD (9,839) 15/09/2010Acquisto a 670,000 AUD in vendita a 603,275 USD (7,936) 15/09/2010Acquisto a 95,268 EUR in vendita a 125,679 USD (4,864) 07/09/2010Acquisto a 84,081 GBP in vendita a 133,690 USD (3,935) 07/09/2010Acquisto a 591 USD in vendita a 468 EUR (3) 07/09/2010Acquisto a 1,254 USD in vendita a 813 GBP (2) 07/09/2010

Totale perdite non realizzate su contratti di cambio a termine aperti (1,163,602)

Totale perdite non realizzati su contratti di cambio a termine apert USD (968,327)


319 Invesco Funds


7. Contratti di Cambio a Termine (segue)

Invesco US Structured Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 30,948 USD in vendita a 24,096 EUR 391 07/09/2010

Totale utili non realizzati su contratti di cambio a termine apert 391

Acquisto a 549,329 EUR in vendita a 724,377 USD (27,735) 07/09/2010Acquisto a 29,514 USD in vendita a 23,329 EUR (74) 07/09/2010

Totale perdite non realizzati su contratti di cambio a termine apert (27,809)

Totale perdite non realizzate su contratti di cambio a termine aperti USD (27,418)

Invesco US 130/30 Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 5,695 USD in vendita a 4,432 EUR 73 07/09/2010





Invesco Latin American Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,982 USD in vendita a 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 2,720 USD in vendita a 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 24,329 USD in vendita a 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 35,067 EUR in vendita a 44,300 USD 171 07/09/2010Acquisto a 20,513 USD in vendita a 15,953 EUR 281 07/09/2010



Totale perdite non realizzate su contratti di cambio a termine aperti (38,150)



320 Invesco Funds



Invesco Energy Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 371,151 EUR in vendita a 468,867 USD 1,813 07/09/2010Acquisto a 1,798,149 USD in vendita a 1,375,050 EUR 54,361 07/09/2010

Totale utili non realizzate su contratti di cambio a termine aperti 56,174

Acquisto a 9,286,651 EUR in vendita a 12,074,973 USD (297,976) 07/09/2010Acquisto a 365,180 USD in vendita a 288,713 EUR (953) 07/09/2010



Invesco Emerging Markets Quantitative Equity Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 3,149 USD in vendita a 2,019 GBP 32 07/09/2010Acquisto a 6,287 USD in vendita a 4,901 EUR 74 07/09/2010

Totale utili non realizzate su contratti di cambio a termine aperti 106

Acquisto a 111,759 EUR in vendita a 147,355 USD (5,626) 07/09/2010Acquisto a 46,676 GBP in vendita a 74,201 USD (2,169) 07/09/2010Acquisto a 1,649 USD in vendita a 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 34,929 USD in vendita a 27,239 EUR 386 07/09/2010

Totale perdite non realizzate su contratti di cambio a termine aperti 386




Invesco Global Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,566,000 USD in vendita a 1,000,000 GBP 23,292 25/10/2010Acquisto a 3,862,220 USD in vendita a 3,000,000 EUR 57,761 20/09/2010

Totale utili non realizzati su contratti di cambio a termine apert USD 81,053

Invesco European Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 650,000 GBP in vendita a 786,378 EUR 4,379 29/10/2010Acquisto a 3,283,628 EUR in vendita a 2,690,000 GBP 11,109 29/10/2010


Acquisto a 410,132 EUR in vendita a 340,000 GBP (3,495) 29/10/2010Acquisto a 540,000 GBP in vendita a 660,244 EUR (3,307) 29/10/2010


Totale utili non realizzati su contratti di cambio a termine apert EUR 8,686

Invesco Absolute Return Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 320,000 TRY in vendita a 208,727 USD 172 08/09/2010Acquisto a 70,000 GBP in vendita a 84,925 EUR 257 08/09/2010Acquisto a 324,465 EUR in vendita a 1,300,000 PLN 287 08/09/2010Acquisto a 4,130,000 CNY in vendita a 606,283 USD 522 10/12/2010Acquisto a 386,972 USD in vendita a 12,000,000 RUB 827 10/12/2010Acquisto a 88,921 GBP in vendita a 107,302 EUR 906 07/09/2010Acquisto a 40,700,000 PHP in vendita a 893,916 USD 1,307 17/09/2010Acquisto a 930,000 PEN in vendita a 331,669 USD 1,654 10/12/2010Acquisto a 451,905 EUR in vendita a 370,000 GBP 1,658 08/09/2010Acquisto a 212,198 USD in vendita a 1,550,000 ZAR 2,036 08/09/2010Acquisto a 821,073 EUR in vendita a 1,100,000 CAD 2,507 08/09/2010Acquisto a 432,051 USD in vendita a 20,220,000 INR 2,730 17/09/2010Acquisto a 223,350,000 HUF in vendita a 773,283 EUR 3,114 08/09/2010Acquisto a 1,327,629 USD in vendita a 9,000,000 CNY 3,935 10/12/2010Acquisto a 468,089 USD in vendita a 555,410,000 KRW 3,965 08/09/2010Acquisto a 810,000 USD in vendita a 632,996 EUR 5,724 08/09/2010


321 Invesco Funds



Invesco Absolute Return Bond Fund (segue) Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,470,000 PEN in vendita a 517,606 USD 6,794 17/09/2010Acquisto a 3,310,000 ILS in vendita a 856,249 USD 7,686 07/09/2010Acquisto a 19,250,000 PHP in vendita a 414,246 USD 7,696 08/09/2010Acquisto a 224,454 USD in vendita a 257,000,000 KRW 8,117 17/09/2010Acquisto a 714,177 EUR in vendita a 5,650,000 NOK 8,626 08/09/2010Acquisto a 2,900,000 ARS in vendita a 719,782 USD 8,771 17/09/2010Acquisto a 5,650,000 NOK in vendita a 696,661 EUR 8,890 08/09/2010Acquisto a 9,810,000 SEK in vendita a 1,035,203 EUR 10,256 08/09/2010Acquisto a 2,550,000 ZAR in vendita a 331,143 USD 10,810 08/09/2010Acquisto a 650,000 CHF in vendita a 492,297 EUR 11,184 08/09/2010Acquisto a 1,360,000 MYR in vendita a 418,311 USD 11,467 17/09/2010Acquisto a 857,135 USD in vendita a 3,220,000 ILS 11,592 08/09/2010Acquisto a 1,830,986 USD in vendita a 12,350,000 CNY 13,630 27/09/2010Acquisto a 626,415 EUR in vendita a 770,000 USD 19,238 08/09/2010Acquisto a 1,124,433 EUR in vendita a 317,450,000 HUF 20,931 08/09/2010Acquisto a 2,720,000 PLN in vendita a 657,188 EUR 21,092 08/09/2010Acquisto a 705,629 EUR in vendita a 3,310,000 ILS 22,756 07/09/2010Acquisto a 37,800,000 JPY in vendita a 418,073 USD 23,693 08/09/2010


Acquisto a 4,224,053 EUR in vendita a 5,560,799 USD (160,871) 08/09/2010Acquisto a 2,442,312 EUR in vendita a 274,750,000 JPY (126,098) 08/09/2010Acquisto a 845,791 USD in vendita a 40,690,000 PHP (39,083) 17/09/2010Acquisto a 977,979 EUR in vendita a 25,050,000 CZK (31,517) 08/09/2010Acquisto a 1,022,162 EUR in vendita a 9,810,000 SEK (23,297) 08/09/2010Acquisto a 12,350,000 CNY in vendita a 1,841,223 USD (21,702) 27/09/2010Acquisto a 4,630,000 MXN in vendita a 295,998 EUR (18,594) 08/09/2010Acquisto a 1,488,037 USD in vendita a 2,050,000 SGD (18,517) 08/09/2010Acquisto a 662,872 EUR in vendita a 2,730,000 PLN (17,901) 08/09/2010Acquisto a 1,650,771 EUR in vendita a 1,370,000 GBP (16,357) 08/09/2010Acquisto a 13,340,000 CNY in vendita a 1,978,158 USD (13,969) 10/12/2010Acquisto a 499,207 EUR in vendita a 660,000 CHF (12,021) 08/09/2010Acquisto a 94,100,000 HUF in vendita a 339,062 EUR (11,957) 08/09/2010Acquisto a 420,968 USD in vendita a 36,700,000 JPY (11,127) 08/09/2010Acquisto a 12,000,000 RUB in vendita a 400,000 USD (11,102) 10/12/2010Acquisto a 709,677 USD in vendita a 363,000,000 CLP (9,659) 10/12/2010Acquisto a 257,000,001 KRW in vendita a 224,454 USD (8,117) 17/09/2010Acquisto a 303,178 USD in vendita a 1,240,000 ARS (7,370) 17/09/2010Acquisto a 434,751 EUR in vendita a 4,140,000 ZAR (6,736) 08/09/2010Acquisto a 270,000 USD in vendita a 219,129 EUR (6,223) 08/09/2010Acquisto a 2,050,000 SGD in vendita a 1,197,080 EUR (5,185) 08/09/2010Acquisto a 3,220,000 ILS in vendita a 848,740 USD (4,972) 08/09/2010Acquisto a 58,000,000 KZT in vendita a 396,717 USD (2,758) 17/09/2010Acquisto a 555,400,001 KRW in vendita a 466,091 USD (2,396) 08/09/2010Acquisto a 415,252 USD in vendita a 470,000 AUD (2,173) 08/09/2010Acquisto a 431,198 USD in vendita a 1,360,000 MYR (1,305) 17/09/2010Acquisto a 20,220,000 INR in vendita a 429,208 USD (488) 17/09/2010Acquisto a 208,877 USD in vendita a 320,000 TRY (54) 08/09/2010


Totale perdite non realizzate su contratti di cambio a termine aperti EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 2,710,547 EUR in vendita a 2,260,000 GBP (39,048) 12/10/2010

Totale perdite non realizzate su contratti di cambio a termine aperti EUR (39,048)

Invesco UK Investment Grade Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,400,000 EUR in vendita a 1,137,724 GBP 12,693 01/09/2010Acquisto a 5,806,757 GBP in vendita a 6,920,000 EUR 120,409 01/09/2010Acquisto a 3,040,390 GBP in vendita a 4,430,000 USD 169,917 01/09/2010


Acquisto a 32,236 EUR in vendita a 40,722 USD 158 07/09/2010Acquisto a 1,113,406 USD in vendita a 863,577 EUR 18,249 07/09/2010Acquisto a 3,056,400 TRY in vendita a 1,946,628 USD 37,386 12/10/2010Acquisto a 9,767,450 SGD in vendita a 7,052,310 USD 149,432 12/10/2010Acquisto a 464,999,999 PHP in vendita a 10,000,000 USD 220,603 27/09/2010Acquisto a 226,555,000 THB in vendita a 6,990,281 USD 246,472 06/10/2010


Totale utili non realizzate su contratti di cambio a termine aperti GBP 132,590


322 Invesco Funds



Invesco Emerging Local Currencies Debt Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 32,236 EUR in vendita a 40,722 USD 158 07/09/2010Acquisto a 1,113,406 USD in vendita a 863,577 EUR 18,249 07/09/2010Acquisto a 3,056,400 TRY in vendita a 1,946,628 USD 37,386 12/10/2010Acquisto a 9,767,450 SGD in vendita a 7,052,310 USD 149,432 12/10/2010Acquisto a 464,999,999 PHP in vendita a 10,000,000 USD 220,603 27/09/2010Acquisto a 226,555,000 THB in vendita a 6,990,281 USD 246,472 06/10/2010


Acquisto a 34,047,913 EUR in vendita a 44,675,847 USD (1,497,502) 07/09/2010Acquisto a 11,030,760 USD in vendita a 9,000,000 EUR (382,720) 07/09/2010Acquisto a 87,763,000 CNY in vendita a 13,000,000 USD (106,354) 12/11/2010Acquisto a 89,820,000 RUB in vendita a 3,000,000 USD (102,851) 08/11/2010Acquisto a 33,725,000 CNY in vendita a 5,000,000 USD (45,091) 19/11/2010Acquisto a 22,262,499,999 IDR in vendita a 2,500,000 USD (37,399) 03/09/2010Acquisto a 2,400,000 USD in vendita a 7,568,400 MYR (7,113) 27/09/2010

Totale perdite non realizzati su contratti di cambio a termine apert (2,179,030)

Totale perdite non realizzati su contratti di cambio a termine apert USD (1,506,730)

Invesco Global Investment Grade Corporate Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 132,231 USD in vendita a 84,861 GBP 1,264 01/09/2010Acquisto a 1,154,570 USD in vendita a 745,000 GBP 5,527 01/12/2010Acquisto a 170,000 GBP in vendita a 254,124 USD 8,237 01/09/2010Acquisto a 4,625,638 USD in vendita a 3,640,000 EUR 10,196 01/12/2010Acquisto a 585,000 EUR in vendita a 718,458 USD 23,422 01/09/2010Acquisto a 1,755,679 USD in vendita a 1,340,000 EUR 56,331 01/09/2010


Acquisto a 4,186,915 EUR in vendita a 5,523,484 USD (213,788) 07/09/2010Acquisto a 3,727,116 USD in vendita a 3,035,000 EUR (121,783) 01/09/2010Acquisto a 1,201,799 USD in vendita a 830,000 GBP (79,141) 01/09/2010Acquisto a 150,000 EUR in vendita a 194,808 USD (4,582) 01/09/2010Acquisto a 89,554 GBP in vendita a 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 1,339,464 GBP in vendita a 1,600,001 EUR 24,518 20/09/2010


Acquisto a 43,600 GBP in vendita a 70,000 CHF (966) 20/09/2010Acquisto a 81,321 EUR in vendita a 67,528 GBP (702) 07/09/2010


Totale utili non realizzati su contratti di cambio a termine apert GBP 22,850


323 Invesco Funds



Invesco Capital Shield 90 (EUR) Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 100,000 GBP in vendita a 121,631 EUR 51 15/09/2010Acquisto a 834,387 EUR in vendita a 685,000 GBP 864 15/09/2010Acquisto a 55,899,999 JPY in vendita a 512,379 EUR 10,226 15/09/2010


Acquisto a 26,269,838 EUR in vendita a 33,850,000 USD (422,432) 15/09/2010Acquisto a 1,267,656 EUR in vendita a 138,700,001 JPY (29,043) 15/09/2010Acquisto a 33,500,000 JPY in vendita a 313,994 EUR (804) 15/09/2010Acquisto a 121,242 EUR in vendita a 100,000 GBP (441) 15/09/2010Acquisto a 95,000 GBP in vendita a 115,858 EUR (260) 15/09/2010


Totale perdite non realizzati su contratti di cambio a termine apert EUR (441,839)

Invesco Asia Balanced Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 526,707 USD in vendita a 412,508 EUR 3,579 07/09/2010


Acquisto a 3,556,131 EUR in vendita a 4,674,162 USD (164,404) 07/09/2010



Invesco Pan European High Income Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 2,265,144 EUR in vendita a 1,850,000 GBP 14,527 29/10/2010


Acquisto a 1,789,848 EUR in vendita a 1,500,000 GBP (35,322) 20/09/2010Acquisto a 709,161 EUR in vendita a 600,000 GBP (20,871) 27/09/2010Acquisto a 656,403 EUR in vendita a 550,000 GBP (12,859) 13/09/2010Acquisto a 140,741 EUR in vendita a 190,000 CHF (6,525) 16/11/2010Acquisto a 2,608,938 EUR in vendita a 2,150,000 GBP (6,438) 16/11/2010Acquisto a 1,573,787 EUR in vendita a 2,000,000 USD (3,414) 29/10/2010Acquisto a 120,642 EUR in vendita a 100,000 GBP (1,022) 12/10/2010Acquisto a 303,693 EUR in vendita a 250,000 GBP (450) 25/10/2010



Invesco Global Absolute Return Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 528 EUR in vendita a 669 USD 1 07/09/2010Acquisto a 74,532 EUR in vendita a 100,000 CAD 108 01/09/2010Acquisto a 68,262 USD in vendita a 51,815 EUR 2,013 07/09/2010Acquisto a 5,000,000 JPY in vendita a 43,881 EUR 2,855 01/09/2010Acquisto a 1,200,000 USD in vendita a 935,490 EUR 10,755 01/09/2010Acquisto a 900,000 GBP in vendita a 1,080,049 EUR 15,206 01/09/2010


Acquisto a 1,986,806 EUR in vendita a 2,600,000 USD (63,392) 01/09/2010Acquisto a 736,761 EUR in vendita a 1,000,000 CHF (37,775) 01/09/2010Acquisto a 279,831 EUR in vendita a 31,000,000 JPY (9,935) 01/09/2010Acquisto a 1,300,000 CAD in vendita a 973,492 EUR (5,976) 01/09/2010Acquisto a 614,170 EUR in vendita a 800,000 CHF (5,620) 01/10/2010Acquisto a 700,000 GBP in vendita a 855,327 EUR (3,644) 01/10/2010Acquisto a 334,271 EUR in vendita a 36,000,000 JPY (2,355) 01/10/2010Acquisto a 156,981 EUR in vendita a 200,000 USD (730) 01/10/2010Acquisto a 73,919 EUR in vendita a 100,000 CAD (506) 01/09/2010Acquisto a 121,551 EUR in vendita a 100,000 GBP (144) 01/09/2010Acquisto a 594 EUR in vendita a 764 USD (8) 07/09/2010Acquisto a 600,000 CAD in vendita a 446,332 EUR (1) 01/10/2010




324 Invesco Funds



Invesco Balanced-Risk Allocation Fund Utili/(perdite)Dettagli dei contratti di cambio a termine non realizzati Data scadenzaAcquisto a 122,772 GBP in vendita a 148,129 EUR 1,272 07/09/2010Acquisto a 136,947 USD in vendita a 103,941 EUR 4,048 07/09/2010Acquisto a 8,703,663 EUR in vendita a 10,702,000 USD 264,717 03/09/2010


Acquisto a 3,347,000 USD in vendita a 2,672,478 EUR (33,238) 03/09/2010Acquisto a 860,684 EUR in vendita a 1,100,000 USD (6,710) 03/09/2010Acquisto a 1,425 GBP in vendita a 1,740 EUR (6) 07/09/2010


Totale utili non realizzati su contratti di cambio a termine apert EUR 230,083

8. Futures DescrizioneNumero di contratti Impegno Long/Short Utili/(perdite) non

sub-fund Base Ccy realizzati nella valutabase del comparto

Invesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Long (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Long (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Long (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Long (2,854)

Totale perdite non realizzate USD (69,760)


Totale perdite non realizzate USD (55,619)


Totale perdite non realizzates USD (3,031)


Totale perdite non realizzates EUR (278,823)






Totale utili non realizzates EUR 5,490


Totale perdite non realizzate (90,886)



Totale utili non realizzate 16,894

US 10 Year Note Future 21/12/2010 (11) (1,092,052) Short (566)Long Gilt Future 29/12/2010 (6) (912,789) Short (3,345)Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Short (29,059)Euro Bobl Future 08/09/2010 (60) (7,236,900) Short (118,200)




325 Invesco Funds


8. Futures (segue)Descrizione Numero di contratti Impegno Long/Short Utili/(perdite) non



Totale perdite non realizzates EUR (13,858,500)




Totale utili non realizzate 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Short (28,201)US 10 Year Note Future 21/12/2010 (29) (2,343,750) Short (1,753)Long Gilt Future 29/12/2010 (6) (750,060) Short (1,440)


Totale perdite non realizzates GBP (30,420)

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Short 719Canada 10 Year Bond Future 20/12/2010 2 237,398 Long 817Euro Schatz Future 08/09/2010 3 403,862 Long 1,23510 Year Mini JGB Future 08/09/2010 2 308,414 Long 5,034Euro Bobl Future 08/09/2010 2 296,765 Long 5,039US Long Bond (CBT) Future 21/12/2010 6 802,875 Long 5,719US 5 Year Note Future 31/12/2010 60 7,193,250 Long 12,609


US 10 Year Note Future 21/09/2010 (53) (6,473,914) Short (219,406)US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Short (914)




Totale utili non realizzate 1,568,968


Totale perdite non realizzate (2,806,970)

Totale perdite non realizzates EUR (1,238,002)







326 Invesco Funds


8. Futures (segue)Descrizione Numero di contratti Impegno Long/Short Utili/(perdite) non








Acquisto/Vendita Data Valore Currency Utili/(Perdite)di rischio Denominazione di scadenza nominale di mercato

Invesco Absolute Return Bond FundAcquisto a Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684


Invesco Global Unconstrained Bond FundAcquisto a Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196

Totale utili non realizzates 2,196

in vendita a French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

in vendita a Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

in vendita a Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Totale perdite non realizzates (35,563)

Totale perdite non realizzates GBP (33,367)

Invesco Pan European High Income Fundin vendita a Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411in vendita a British Energy 4.55% 20/03/2013 300,000 EUR 30,869Acquisto a Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145



Non ci era il tasso di interesse cambia tenuto su qualunque fondo come alla fine di periodo, 31 il 2010 agosto.

11. Equity Swaps

Invesco US 130/30 Equity FundAzione Numero di Valuta Impegno Impegno in % Utili/(perdite) noneqsottostante azioni in Valuta locale del NAV del realizzati nella valuta

sottostanti Comparto base del compartoAK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230


327 Invesco Funds


11. Equity Swaps (segue)

Invesco US 130/30 Equity Fund (segue)Azione Numero di Valuta Impegno Impegno in % Utili/(perdite) noneqsottostante azioni in Valuta locale del NAV del realizzati nella valuta

sottostanti Comparto base del compartoManulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Totale utili non realizzate equity swaps 36,330



Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)



Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)


Pfizer Inc 4,700 USD 75,341 1.96% (846)




ProLogis (300) USD (3,060) (0.08%) (167)



Totale perdite non realizzate equity swaps (44,706)

Totale perdite non realizzate equity swaps USD (8,376)


328 Invesco Funds



Invesco Pan European 130/30 Equity FundAzione Numero di Valuta Impegno Impegno in % Utili/(perdite) noneqsottostante azioni in Valuta locale del NAV del realizzati nella valuta

sottostanti Comparto base del compartoAir France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178




Totale utili non realizzate equity swaps EUR 65,683

Invesco Global Absolute Return FundAzione Numero di Valuta Impegno Impegno in % Utili/(perdite) noneqsottostante azioni in Valuta locale del NAV del realizzati nella valuta

sottostanti Comparto base del compartoAbertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294




329 Invesco Funds



Invesco Global Absolute Return Fund (segue)Azione Numero di Valuta Impegno Impegno in % Utili/(perdite) noneqsottostante azioni in Valuta locale del NAV del realizzati nella valuta

sottostanti Comparto base del compartoAutoNation Inc 300 USD 6,000 0.10% 596



BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915














Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391





Hubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925


330 Invesco Funds



sottostanti Comparto base del compartoNippon Sheet Glass Co Ltd (8,000) JPY (1,856,000) (0.36%) 3,527


Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314




Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104













Terex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162









AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)


Amgen Inc 776 USD 41,066 0.70% (829)



331 Invesco Funds




sottostanti Comparto base del compartoApollo Group Inc 300 USD 13,434 0.23% (335)











Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)





Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)










K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)


332 Invesco Funds




sottostanti Comparto base del compartoLifePoint Hospitals Inc 800 USD 25,648 0.44% (820)





Masco Corp 1,698 USD 19,069 0.32% (1,094)










Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)












Rhodia SA 1,221 EUR 18,724 0.41% (757)




Sara Lee Corp 907 USD 13,052 0.22% (34)



Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)




SKF AB 1,529 SEK 209,448 0.48% (895)











Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)


333 Invesco Funds




sottostanti Comparto base del compartoTokio Marine Holdings Inc 600 JPY 1,447,200 0.28% (909)

Toro Co 400 USD 20,128 0.34% (200)





TUI AG 2,338 EUR 18,849 0.41% (539)


USS Co Ltd 180 JPY 1,148,400 0.22% (296)






Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Totale perdite non realizzate equity swaps EUR (78,570)

12. Politica di swing pricingI titoli sono valutati come descritto nella nota 2(b). Per attenuare gli effetti della diluizione tuttavia con decorrenza dal 18 dicembre 2007 la SICAV

ha introdotto una politica di “swing pricing”.

Nel miglior interesse dei clienti del Gruppo, gli Amministratori possono permettere che il Valore Patrimoniale Netto sia corretto, utilizzando il corso

lettera o il corso denaro piuttosto che il corso medio, a seconda dell'attività netta delle azioni generata da sottoscrizioni, riscatti o conversioni in un

Comparto in una determinata giornata lavorativa.

I Comparti operano solo swing parziali. Ciò significa che i Comparti non oscilleranno fino a un prezzo lettera o denaro su base giornaliera, ma solo

quando si sarà superato un livello prefissato di attività dei clienti. Un livello elevato di riscatti dà il via a uno swing verso una base di prezzo lettera,

mentre un livello elevato di sottoscrizioni dà il via a uno swing verso una base di prezzo denaro. Gli amministratori possono collocare un Comparto

in swing costante a seconda delle recenti tendenze di un Comparto.

Di seguito è riportata la riconciliazione al 31 agosto 2010 della valutazione MEDIA rispetto al corso DENARO/LETTERA:






ASK Pricing





13. Prospetto delle Variazioni degli InvestimentiCopia gratuita dell'elenco che specifica gli acquisti e le vendite totali per ogni investimento condotti nel corso dell'esercizio in esame può essere

richiesta e ottenuta presso la sede legale e l'ufficio del rappresentante per Hong Kong del Fondo.


334 Invesco Funds

14. Status di DistributoreÈ stata presentata, e ottenuta, domanda di certificazione di “fondo a distribuzione” ai sensi della legge britannica Income & Corporation Taxes Act

1988 ai fini della tassazione UK, per l’anno chiuso al 28 febbraio 2010, per le Classi di Azioni a Distribuzione A e C dei seguenti Comparti (ove

applicabile): Al 31 agosto 2010 non vi erano titoli in prestito. Il reddito da prestito titoli è rilevato in “Altre voci di reddito” nel Conto economico e

variazioni del patrimonio netto (solo a fine esercizio).


15. Prestito titoliIl Comparto ha stipulato un accordo di prestito titoli con State Street nel novembre 2007.

Non ci sono stati titoli in prestito al 31 agosto 2010.

Redditi di prestito titoli è registrato in “Altri Income” in Propetto delle operazioni e variazioni del partrimonio netto (communicati soltanto a fine anno).

16. Incentivi ed Operazioni con Parti CollegateAlcune controllate di Invesco Ltd ("il Gruppo"), per ottenere il miglior risultato netto, compresa l'esecuzione al meglio, possono stipulare accordi con

controparti ai sensi dei quali tali controparti possono effettuare pagamenti per servizi di investimento forniti al Gruppo.

I servizi di investimento sono utilizzati dal Gruppo per migliorare od incrementare i servizi forniti ai suoi clienti. Sebbene ciascun servizio non possa

essere utilizzato a vantaggio di ciascun portafoglio gestito dal Gruppo, il Gruppo ritiene che tali servizi di investimento ricevuti forniscano

complessivamente un contributo notevole all'espletamento delle sue funzioni di investimento e siano di beneficio comprovato per tutti i clienti. Solo i

servizi che contribuiscono a fornire servizi di investimento ai clienti del Gruppo saranno pagati dalle controparti.

I servizi di investimento permessi comprendono servizi che forniscono assistenza al Gruppo nella sua attività di investimento. Tali servizi includono, ma

non si limitano necessariamente a, fornire analisi, servizi di ricerca e consulenza compresi fattori e tendenze economiche, valutazione ed analisi di

portafogli, misurazione della performance, servizi di pubblicazione dei prezzi di mercato nonché l'utilizzo di software ed hardware specializzati o altri

supporti informativi.

Il Gruppo assicurerà che tali operazioni siano conformi alle sue responsabilità di investimento dovute ai suoi clienti, ai sensi delle leggi dei paesi aventi

giurisdizione sui suoi clienti o sulla sua attività. Quanto detto può variare in termini di applicazione in relazione all'adeguatezza dei servizi di

investimento forniti.

Il Gruppo sceglie le controparti per eseguire le operazioni con il criterio che tali operazioni siano eseguite solamente a condizione che il collocamento di

ordini sia nel migliore interesse dei clienti del Gruppo e che il multiplo sia ad un livello generalmente consono alle pratiche di mercato. Il Gruppo

cercherà di ottenere l'esecuzione al meglio su tutte le operazioni per tutti i clienti.

Inoltre, i clienti possono richiedere al Gruppo di pagare alle controparti commissioni per prodotti e servizi che dovrebbero altrimenti essere pagati dai

clienti. In tali casi, la commissione è utilizzata ad esclusivo beneficio del cliente le cui operazioni hanno generato tale commissione.

Il Gruppo cercherà di mantenere in tutto il mondo i più elevati standard regolatori possibili.



335 Invesco Funds

Memoria relativa a los estados financieros

1. GeneralInvesco Funds (en lo sucesivo, el "Fondo") es una sociedad de inversión constituida con arreglo a la parte I de la Ley luxemburguesa sobre inversión colectiva

de 20 de diciembre de 2002 como una société anonyme y cumple los requisitos de una société d'investissement à capital variable ("SICAV"). Invesco Funds

es un fondo paraguas compuesto por 41 subfondos, cada uno de los cuales se considera una entidad separada. Los estados financieros adjuntos se han

formulado de conformidad con el formato que establece la normativa reglamentaria luxemburguesa.

(b) Invesco India (Mauritius) LimitedLas inversiones en los valores indios se realizan mediante una filial mauriciana en propiedad absoluta, Invesco India (Mauritius) Limited (la "Filial"),

cuyo único objetivo es realizar actividades de inversión en nombre del Fondo. La Filial es 100% propiedad del Invesco India Equity Fund.

La Filial posee una Licencia Empresarial Global de Categoría 1 emitida por la Mauritius Offshore Business Activities Authority Autoridad de

Actividades Empresariales Offshore de las Islas Mauricio. Como consecuencia, está sujeta a un tipo reducido de la carga impositiva mauriciana en

sus ingresos. Además, ningún impuesto mauriciano sobre las ganancias de capital será pagadero con respecto a las inversiones de la filial en la

India y todos los dividendos y procesos de amortización abonados por la Filial al Invesco India Equity Fund estarán exentos de la retención de

impuestos en las Islas Mauricio.

(b) Clases de AccionesLas acciones de algunos de los subfondos están disponibles en seis clases (Clase A, Clase B, Clase B1, Clase C, Clase E y Clase I). Las acciones de

la Clase A están disponibles sin ninguna limitación. Las acciones de Clase B están disponibles para clientes de distribuidores o intermediarios

designados específicamente para la distribución de las acciones de Clase B y únicamente en el caso de aquellos Fondos para los que se hayan

realizado acuerdos de distribución con dichos distribuidores. Las acciones de Clase C están disponibles para todos los inversores, que tienen un

importe de suscripción inicial mínimo más elevado y se benefician de unos gastos de gestión reducidos; éstas están destinadas principalmente a

grandes inversores o inversores institucionales. Las acciones de Clase E en euros tienen un gasto inicial de suscripción inferior y unas comisiones

de gestión anuales más elevadas que las de las Clases A y C. Además, las acciones de Clase B1 sólo están disponibles para los clientes de Merrill

Lynch. Las acciones de Clase I se denominan en euros y sólo están disponibles para clientes institucionales que hayan firmado un Acuerdo de

gestión Institucional con Invesco. En algunos de los subfondos existen clases de acciones de distribución A y C, clases de acciones cubiertas y

clases de distribución fija.

Las clases de acciones cubiertas están disponibles para los inversores en varios subfondos. Respecto a este tipo de clases de acciones, el SICAV

puede cubrir la exposición de divisa de las clases de acciones denominadas en una divisa diferente a la divisa base del Fondo relevante con el fin de

intentar mitigar el efecto de las variaciones en el tipo de cambio entre la divisa de la clase de acciones y la divisa base.

(c) Actividad del FondoClases de acciones A y C cubiertas en EurosA partir del 31 de marzo de 2010, se lanzaron clases de acciones cubiertas "A" y "C" en los siguientes subfondos:





Invesco Euro Reserve Fund A partir del 31 de marzo de 2010, se lanzó la clase de acciones "A" de distribución anual en el Invesco Euro Reserve Fund.

Invesco Energy FundA partir del 31 de marzo de 2010, se lanzó la clase de acciones "A" de distribución anual en el Invesco Energy Fund.

Invesco Global Absolute Return FundA partir del 29 de abril de 2010, se lanzó la clase de acciones “C” cubiertas en dólares estadounidenses en el Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundA partir del 29 de abril de 2010, se lanzaron las siguientes clases de acciones en el Invesco Balanced-Risk Allocation Fund:

- Clase de acciones “A” cubiertas en dólares estadounidenses

- Clase de acciones “C” cubiertas en dólares estadounidenses

- Clase de acciones “A” de distribución anual

Invesco Global Investment Grade Corporate Bond FundA partir del 29 de abril de 2010, se lanzaron las siguientes clases de acciones en el Invesco Global Investment Grade Corporate Bond Fund:

- Clase de acciones “C” de acumulación cubiertas en libras esterlinas

- Clase de acciones “A” de distribución mensual en dólares estadounidenses

Invesco Global Structured Equity FundA partir del 29 de abril de 2010, se lanzaron las siguientes clases de acciones en el Invesco Global Structured Equity Fund:

- Clase de acciones “A” cubiertas en euros

- Clase de acciones “C” cubiertas en euros

- Clase de acciones “C” de acumulación cubiertas en libras esterlinas

Invesco Pan European Structured Equity FundA partir del 29 de abril de 2010, se lanzó la clase de acciones "A" de distribución anual en el Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundEl Invesco Gold & Precious Metals Fund fue lanzado el 21 de junio de 2010.

Invesco Global Unconstrained Bond FundEl Invesco Global Unconstrained Bond Fund fue lanzado el 21 de junio de 2010.

Invesco Emerging Markets Quantitative Equity FundEl Invesco Emerging Markets Quantitative Equity Fund fue lanzado el 21 de junio de 2010.


336 Invesco Funds

Memoria relativa a los estados financieros – (continuación)

1. General (continuación)

Invesco Latin American Equity FundEl Invesco Latin American Equity Fund fue lanzado el 11 de agosto de 2010.

Invesco Absolute Return Bond FundA partir del 11 de agosto de 2010, se lanzó la clase de acciones “C” cubiertas en libras esterlinas en el Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundA partir del 11 de agosto de 2010, se lanzó la clase de acciones “A” cubiertas en euros de distribución mensual en el Invesco Emerging Local Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundEl Invesco Global Total Return (EUR) Bond Fund fue lanzado el 15 de septiembre de 2010.

Invesco Global Absolute Return FundA partir del 15 de septiembre de 2010, se lanzó la clase de acciones “C” cubiertas en yenes japoneses en el Invesco Global Absolute Return Fund.

Cambios en la estructura de la organización- A partir del 1 de marzo de 2010, el Agente Administrativo, Agente de Registro y Agente de Transferencias cambió de RBC Dexia Investor Services Bank S.A. a

BNY Mellon (International) Limited.

- A partir del 1 de marzo de 2010, el Agente Domiciliario y de la Sociedad cambió de RBC Dexia Investor Services Bank S.A. a BNY Mellon (International) Limited.

- A partir del 1 de marzo de 2010, el Depositario y Agente de Pagos cambió de J.P.Morgan Bank Luxembourg S.A. a Bank of New York Mellon Limited, Sucursal de

Luxemburgo.

- A partir del 1 de marzo de 2010, el domicilio social de Invesco Funds cambió de 69, route d'Esch, L-1470 Luxemburgo, Gran Ducado de Luxemburgo a 46A,

Avenue John F. Kennedy, L-1855 Luxemburgo, Gran Ducado de Luxemburgo. A partir del 15 de mayo de 2010, el domicilio social cambió a 2-4 rue Eugène

Ruppert, L-2453 Luxemburgo, Gran Ducado de Luxemburgo.

(d) PEA Disclosure (Plan d’Epargne en Actions)Del 1 de marzo de 2010 al 31 de agosto de 2010, los siguientes subfondos invirtieron el porcentaje medio –indicado en la tabla– de sus activos en títulos que

pueden acogerse al PEA, tal y como se define en el artículo L221-31 del Code Monétaire et Financier. Este requisito se exige a los subfondos registrados en Francia

que cumplan las condiciones del Plan de Ahorro en Acciones (PEA). También se facilita el porcentaje máximo de inversiones durante este período:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Resumen de los principales criterios contables(a) Las cifras consolidadas del Balance y del Estado de Cambios en el Patrimonio Neto se reflejan tan sólo a efectos estadísticos y los inversorescon participaciones en uno o más subfondos no deben guiarse por ellas.

(b) Valoración de las inversionesNormalmente las inversiones, incluyendo instrumentos derivados financieros, se valorarán basándose en el último precio de negociación o la últimacotización de mercado medio disponible (el punto medio entre la última oferta cotizada y los precios de la oferta) de los valores en los mercadosde valores relevantes en los que se comercian, cotizan o negocian las inversiones del subfondos como el punto de valoración de ese día. Cuandolas inversiones de un fondo se cotizan en una bolsa y se negocian por creadores de mercado fuera de la bolsa en la que las inversiones se cotizan,la SICAV decidirá el mercado principal para las inversiones en cuestión y se valorarán al último precio disponible en ese mercado. Los valores queno se coticen o negocien en ninguna bolsa pero que en cambio se negocien en cualquier otro mercado regulado se valorarán de la manera tancercana posible a la que se describe anteriormente. Si no hubiese disponible ninguna cotización de precio para cualquiera de los valores de unsubfondos o si su valor según se determina conforme a lo establecido anteriormente, no representa el valor del mercado justo de los valorespertinentes, el valor de dichos valores se basará en el precio de venta razonablemente previsible, determinado de manera prudente y de buena fe.

Los estados financieros se han preparado sobre la base de los últimos valores activos netos determinados en el periodo contable. De acuerdo conel Folleto de emisión, los valores activos netos se calcularon por referencia a los últimos precios disponibles a las 10.00 am (hora de Dublín) a 31de agosto de 2010. Se realizaron ajustes para suscripciones y reembolsos de la distribución de subfondos que se asignaron fuera de dividendo a31 de agosto de 2010.

Repurcusón en la valoraciónA efectos informativos, si el Fondo hubiera calcula los valores activos netos solamente con vistas a publicación, los precios del mercado utilizadospara valorar la cartera de inversión hubieran sido los precios de cierre a 31 de agosto de 2010 para toda la cartera de inversión, incluyendo larenta variable americana y europea. No obstante, estos valores activos netos no hubieran sido significativamente diferentes a los mostrados enestas Cuentas Anuales Auditadas, salvo para los siguientes subfondos:

- Invesco Emerging Europe Equity Fund: se hubiera registrado un aumento aproximado en el Patrimonio Neto de un 1,48%.- Invesco Latin American Equity Fund: se hubiera registrado un aumento aproximado en el Patrimonio Neto de un 1,14%.

(d) Coste de enajenación de las inversionesCualesquiera superávit o déficit resultantes de la venta de activos financieros se determinan con base al criterio del coste medio.

(e) Rendimiento de las inversionesLos ingresos en concepto de dividendos se contabilizan con base a ex dividendo. Los ingresos en concepto de intereses de valores de renta fija yde depósitos se incluyen conforme se devengan diariamente.

(f) Moneda extranjeraLas transacciones en monedas distintas de la moneda de cuenta de cada subfondo se convierten aplicando los tipos de cambio vigentes en elmomento de efectuarlas. El valor de mercado de los activos financieros y de otros activos y pasivos en monedas distintas de la moneda de cuentade cada subfondo se convierte aplicando los tipos de cambio vigentes al cierre del ejercicio.


337 Invesco Funds


2. Resumen de los principales criterios contables (continuación)

Los tipos de cambio principales utilizados a 31 de agosto de 2010:

Divisa USD 1.00 Divisa USD 1.00


(g) Imputación de gastosCuando el Fondo soporte un gasto relacionado con un determinado subfondo, dicho gasto se imputará al subfondo de que se trate. En aquelloscasos en que se considera que no cabe imputar un gasto a un subfondo determinado, dicho gasto se distribuirá entre todos los subfondos enfunción de sus respectivos patrimonios netos.

(h) Gastos de constituciónLos gastos preliminares se amortizarán durante los primeros cinco ejercicios. Los subfondos lanzados a partir de 2006 están sujetos a unaamortización máxima en cualquier ejercicio contable del 0,05% del valor activo neto medio. Llegada la fecha de liquidación o finalizado el periodode 5 ejercicios, cualquier gasto que no se haya amortizado correrá a cargo de la Sociedad Gestora.

(i) Contratos a plazo sobre divisas extranjerasLos beneficios o pérdidas no realizados en contratos a plazo sobre divisas extranjeras se calculan como la diferencia entre la tasa contratada y latasa al cierre del contrato. Los beneficios o pérdidas realizados incluyen los beneficios netos por contratos que han sido liquidados o compensadoscon otros contratos. (consulte la nota 7 para obtener más detalles). Los beneficios o pérdidas realizados incluyen los beneficios netos porcontratos que han sido liquidados o compensados con otros contratos y se contabilizan en el Estado de Operaciones y Cambios en el PatrimonioNeto (revelado solo a final de ejercicio).

(j) Contratos de futurosLos instrumentos financieros derivados se reconocen inicialmente con arreglo a su coste y, posteriormente, son evaluados de nuevo conforme a suvalor justo. El valor justo se obtiene de las cotizaciones de mercado y de los tipos de cambio. Todos los derivados se contabilizan en el activocuando se trata de importes a cobrar por el Fondo y en el pasivo cuando se trata de importes a pagar por el Fondo. Los cambios en los valoresjustos de los contratos de futuros se incluyen en el Balance (consulte la nota 8 para obtener más detalles).

(k) Swaps de incumplimiento crediticioUn swap de incumplimiento crediticio es una transacción derivada de crédito en la que dos partes cierran un contrato en el que una parte paga a laotra el cupón periódico fijo durante el plazo especificado del contrato. La otra parte no realiza pagos, a no ser que tenga lugar un acontecimientode crédito relativo a un activo de referencia predeterminado. Si tiene lugar ese acontecimiento, entonces la parte realizará un pago a la primeraparte y se pondrá fin al swap. Los swaps de incumplimiento crediticio se cotizan en el mercado diariamente basándose en cotizaciones de losbolsistas en valores especiales y se registran en el Estado del Patrimonio Neto (véase nota 9 para más detalles).

(l) Swaps de tipos de interésUn swap de tipos de interés es un contrato bilateral en el que cada una de las partes acuerda intercambiar una serie de pagos de interés por otraserie de pagos (normalmente fijos/variables) basados en una cantidad teórica que sirve de base de cómputo y que normalmente no se intercambia.Los swaps de tipos de interés se cotizan en el mercado diariamente basándose en cotizaciones de los bolsistas en valores especiales y se registranen el Estado del Patrimonio Neto. (véase nota 10 para más detalles).

(m) Permutas financieras de accionesUna Permuta de Renta Variable es una operación de derivados en la que el Fondo y la contraparte establecen un contrato mediante el cual una

parte paga las rentabilidades generadas por un título de renta variable o una cesta de títulos de renta variable. La otra parte paga un interés en

función del importe nocional acordado de la operación. El interés recibido/pagado respecto a las Permutas de Renta Variable se registra como

ingreso/otros gastos en el Estado de Operaciones y Cambios en el Patrimonio Neto. El valor de las operaciones de Permutas de Renta Variable es

el valor neto actual de todos los flujos de caja, tanto entrantes como salientes. Las Permutas de Renta Variable e se registran en el Estado de

Patrimonio Neto (véase la nota 11 para obtener más información).

3. Comisiones de Gestión y del Asesor de InversionesLos Consejeros del Fondo (los "Consejeros") son responsables de la política de inversión, gestión y administración del Fondo. Los Consejerosdelegan la gestión de inversión diaria de la cartera de títulos del Fondo en Invesco Management S.A., (la "Sociedad Gestora").

De acuerdo con la política de inversión de los Consejeros, la Sociedad Gestora solicita asesoría de inversión, según corresponda, de Invesco AssetManagement Limited en Reino Unido, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers en EE UU, InvescoInstitutional en Canadá e Invesco Asset Management Deutschland GmbH en Alemania.


338 Invesco Funds


3. Comisiones de Gestión y del Asesor de Inversiones (continuación)En contraprestación por sus servicios, la Sociedad Gestora percibirá del Fondo la cantidad resultante de aplicar sobre el patrimonio neto de cadasubfondo el tipo que se refleja en el cuadro siguiente:

Fondo Comisión Comisión Comisión Comisión Comisiónde gestión de gestión de gestión de gestión de gestión

Clase A Clase B (incluye una Clase B1 Clase C Clase Ecomisión de

distribución del 1%)

FONDOS DE RENTA VARIABLEInternacionalInvesco Global Structured Equity Fund 1.00% - - 0.60% 1.50%

AméricaInvesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50%



EuropaInvesco Pan European Structured Equity Fund 1.30% 2.30% - 0.80% 2.25%







JapónInvesco Nippon Small/Mid Cap Equity Fund 1.50% 2.50% - 1.00% 2.25%



FONDOS TEMÁTICOSInvesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25%Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25%Invesco Asia Pacific Real Estate Securities Fund 1.50% - - 1.00% 2.00%Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75%Invesco Emerging Markets Quantitative Equity Fund 1.25% - - 0.75% 1.75%Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00%

FONDOS DE DINEROInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50%Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50%

FONDOS DE RENTA FIJAInvesco Global Bond Fund 0.75% - - 0.50% 0.90%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00%Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Euro Inflation-Linked Bond Fund 0.75% 1.75% - 0.50% 0.90%Invesco UK Investment Grade Bond Fund 0.625% - - - -Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00%Invesco Global Investment Grade Corporate Bond Fund 1.00% - - 0.65% 1.25%Invesco Global Unconstrained Bond Fund 1.50% - - 1.00% 2.00%

FONDOS ESTRUCTURADOSInvesco Capital Shield 90 (EUR) Fund 1.00% 2.00% - 0.60% 1.50%

FONDOS MIXTOSInvesco Asia Balanced Fund 1.25% - - 0.80% 1.75%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75%Invesco Global Absolute Return Fund 2.25% - - 1.50% 2.80%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75%

Las comisiones de gestión se calculan diariamente con base en el Patrimonio Neto de cada subfondo en cada día hábil y se pagan mensualmente.Las comisiones del Asesor de Inversiones se pagarán con cargo a la remuneración del Gestor.

Durante el periodo revisado, la Sociedad Gestora renunció parcialmente a la comisión de gestión en Invesco USD Reserve Fund e Invesco EuroReserve Fund. La renuncia afecta igualmente a todas las clases de acciones.

No hay comisión de gestión anual para las acciones “I”.


339 Invesco Funds


4. Otras comisionesEl Gestor percibe una comisión adicional por cada Fondo (la "Comisión del agente de servicio"). La Comisión del agente de servicio relativa a las

acciones A y E no superará el 0,40% para los Fondos de renta variable o Fondos temáticos, el 0,27% para los Fondos de renta fija, el 0,20% para los

Fondos estructurados, el 0,13% para los Fondos de reserva, el 0,35% para el Invesco Asia Balanced Fund y el 0,40% para el Invesco Pan European High

Income Fund y el Invesco Global Absolute Return Fund del valor del Patrimonio Neto de cada Fondo. La Comisión del agente de servicio para las acciones

B, B1 y C no superará el 0,30% para los Fondos de renta variable y los Fondos temáticos, el 0,10% para los Fondos de reserva, el 0,20% para los Fondos

de renta fija (exceptuando el Invesco Euro Inflation-Linked Bond Fund, en cuyo caso no será superior al 0,10%), el 0,15% para los Fondos estructurados

y el 0,30% para los Fondos mixtos del valor del Patrimonio Neto de cada Fondo. Aparte de esta Comisión del agente de servicio, el Gestor deducirá las

comisiones del Agente Administrativo, del Agente Domiciliario y de la Sociedad, y del Agente de Registro y Transferencias, así como las comisiones de

proveedores de servicios y los gastos incurridos en los lugares en los que está registrado el Fondo. Cada una de estas comisiones se calculará cada día

hábil sobre el Patrimonio Neto del Fondo (al tipo acordado y revisado periódicamente por el Gestor) y se pagarán mensualmente. Además, el Gestor

reembolsará los gastos del Representante del Fondo en Hong Kong.

En su calidad de Depositario, The Bank of New York Mellon (International) Limited tiene derecho a percibir, conforme a las prácticas y usos bancarios

ordinarios en Luxemburgo, una remuneración ("Comisión del Depositario") con arreglo a una tarifa acordada oportunamente con el Fondo, que no

superará el 0,2% (excepto para el Invesco Asia Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund e Invesco Asia Consumer Demand

Fund, que no superará el 0,3%) anual del Patrimonio Neto del Fondo. La comisión del Depositario se calcula diariamente y se paga mensualmente.

Además, el Depositario también puede cargar comisiones por los gastos de transacción de cada subfondo.

Durante el periodo revisado, la Sociedad Gestora ha acordado pagar a su discreción los Gastos Operativos cargados al Invesco USD Reserve Fund e

Invesco Euro Reserve Fund.

La Companñia de la Gestión ha concordado entapar los gastos de opportational cargados a los sub-fondos del siguiente en su discresción, en las tasas

siguientes:












5. Régimen fiscal O Fundo está registado ao abrigo da legislação do Luxemburgo como organismo de investimento colectivo. Desse modo, de momento, o Fundonão está obrigado ao pagamento de qualquer imposto sobre o rendimento ou mais-valias do Luxemburgo. Está, porém, sujeito a uma "taxed’abonnement" anual calculada a uma taxa anual de 0,05% do Valor Líquido. Os dois Fundos de Reserva e a classe de acções "I" estão sujeitos auma taxa anual reduzida de 0,01% do Valor do Activo Líquido, taxa essa que é paga trimestralmente em função do valor do activo líquido dosFundos no final do trimestre relevante.

6. DividendosDe conformidad con la política de distribución del Fondo, los ingresos se distribuyen mediante el pago de dividendos, únicamente a los propietarios

de acciones de Clase A y Clase C (Acciones de distribución).

La clase de acciones de distribución mensual de Clase A del Invesco Emerging Local Currencies Debt Fund paga una distribución basada en unrendimiento fijado anualmente por el Consejo de Administración. Para el periodo comprendido entre el 1 de marzo de 2010 y el 31 de agosto de2010, el rendimiento se estableció en un 6,5%. A 31 de agosto de 2010, 819.158 dólares de honorarios de gestión y otras comisiones y gastos secargaron contra el capital en lugar del ingreso de la clase de acción en el periodo bajo revisión. En consecuencia, el Consejo de Administraciónajustó el rendimiento hasta el 5,50% a partir del 31 de octubre de 2010.

Los ingresos debidos a los accionistas de las acciones de clase A, C, E e I (clases de acumulación) se reinvierten para mejorar el valor de lasacciones de clase A, C, E e I.

Clase de acción Tipo de Frecuencia de Fecha ex dividendo Fecha dedistribución distribución distribución

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semestral 31 agosto 2010* 21 septiembre 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semestral 31 agosto 2010* 21 septiembre 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semestral 31 agosto 2010* 21 septiembre 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Trimestral 31 mayo 2010 21 junio 2010A Dist 0.0206 Trimestral 31 agosto 2010* 21 septiembre 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semestral 31 agosto 2010* 21 septiembre 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semestral 31 agosto 2010* 21 septiembre 2010


340 Invesco Funds


6. Dividendos (continuación)

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Mensual 31 march 2010 21 abril 2010A Dist 0.0291 Mensual 30 abril 2010 21 mayo 2010A Dist 0.0310 Mensual 31 mayo 2010 21 junio 2010A Dist 0.0295 Mensual 30 junio 2010 21 julio 2010A Dist 0.0310 Mensual 30 julio 2010 23 agosto 2010A Dist 0.0299 Mensual 31 agosto 2010* 21 septiembre 2010

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Trimestral 31 mayo 2010 21 junio 2010A Dist 0.0074 Trimestral 31 agosto 2010* 21 septiembre 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Mensual 31 march 2010 21 abril 2010A Dist USD 0.0638 Mensual 30 abril 2010 21 mayo 2010A Dist USD 0.0602 Mensual 31 mayo 2010 21 junio 2010A Dist USD 0.0603 Mensual 30 junio 2010 21 julio 2010A Dist USD 0.0628 Mensual 30 julio 2010 23 agosto 2010A Dist USD 0.0630 Mensual 31 agosto 2010* 21 septiembre 2010A Dist EUR 0.0207 Mensual # 31 agosto 2010* 21 septiembre 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Mensual 31 mayo 2010 21 junio 2010A Dist 0.0370 Mensual 30 junio 2010 21 julio 2010A Dist 0.0197 Mensual 30 julio 2010 23 agosto 2010A Dist 0.0308 Mensual 31 agosto 2010* 21 septiembre 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Trimestral 31 mayo 2010 21 junio 2010A Dist 0.2063 Trimestral 31 agosto 2010* 21 septiembre 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Trimestral 31 mayo 2010 21 junio 2010A Dist 0.1153 Trimestral 31 agosto 2010* 21 septiembre 2010

* Las distribuciones con un excepto agosto date 31 y fecha de paga el 21 de septiembre de 2010 no han sido reflejadas en las DeclaracionesFinancieras.# La primera distribución fue 31 agosto 2010.

7. Contratos a plazo sobre divisas

Los contratos a plazos sobre divisas extranjeras abiertos el 31 de agosto de 2010 fueron los siguientes:

Invesco Global Structured Equity Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 1,653 USD para vender 1,288 EUR 20 07/09/2010Compra 3,010 USD para vender 1,933 GBP 26 07/09/2010Compra 260,000 SEK para vender 34,875 USD 259 15/09/2010Compra 100,000 GBP para vender 151,672 USD 2,640 15/09/2010Compra 423,843 USD para vender 270,000 GBP 7,200 15/09/2010Compra 340,000 AUD para vender 294,049 USD 8,063 15/09/2010Compra 820,000 CHF para vender 779,586 USD 25,946 15/09/2010Compra 220,000,000 JPY para vender 2,570,078 USD 38,228 15/09/2010Compra 4,151,492 USD para vender 4,280,000 CAD 112,893 15/09/2010

Total de beneficios no realizados de los contratos de divisas a plazo abiertos 195,275

Compra 6,433,478 USD para vender 587,200,002 JPY (528,324) 15/09/2010Compra 2,093,121 USD para vender 2,340,000 CHF (205,592) 15/09/2010Compra 2,662,213 USD para vender 1,800,000 GBP (115,408) 15/09/2010Compra 2,951,280 USD para vender 2,400,000 EUR (92,298) 15/09/2010Compra 2,143,847 USD para vender 2,500,000 AUD (77,568) 15/09/2010Compra 768,305 USD para vender 6,000,000 SEK (42,501) 15/09/2010Compra 750,000 EUR para vender 985,920 USD (34,802) 15/09/2010Compra 1,200,000 CAD para vender 1,161,871 USD (29,554) 15/09/2010Compra 300,000 GBP para vender 473,913 USD (10,976) 15/09/2010Compra 2,450,000 SEK para vender 340,918 USD (9,839) 15/09/2010Compra 670,000 AUD para vender 603,275 USD (7,936) 15/09/2010Compra 95,268 EUR para vender 125,679 USD (4,864) 07/09/2010Compra 84,081 GBP para vender 133,690 USD (3,935) 07/09/2010Compra 591 USD para vender 468 EUR (3) 07/09/2010Compra 1,254 USD para vender 813 GBP (2) 07/09/2010

Total de pérdidas no pérdidas de los contratos de divisas a plazo abiertos (1,163,602)

Total de pérdidas no realizados de los contratos de divisas a plazo abiertos USD (968,327)


341 Invesco Funds


7. Contratos a plazo sobre divisas (continuación)

Invesco US Structured Equity Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 30,948 USD para vender 24,096 EUR 391 07/09/2010

Total de beneficios no realizados de los contratos de divisas a plazo abiertos 391

Compra 549,329 EUR para vender 724,377 USD (27,735) 07/09/2010Compra 29,514 USD para vender 23,329 EUR (74) 07/09/2010

Total de pérdidas no realizados de los contratos de divisas a plazo abiertos (27,809)


Invesco US 130/30 Equity Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 5,695 USD para vender 4,432 EUR 73 07/09/2010





Invesco Latin American Equity Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoBuy 1,982 USD para vender 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 2,720 USD para vender 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 24,329 USD para vender 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 35,067 EUR para vender 44,300 USD 171 07/09/2010Compra 20,513 USD para vender 15,953 EUR 281 07/09/2010


Compra 1,162,506 EUR para vender 1,512,253 USD (38,004) 07/09/2010Compra 40,064 USD para vender 31,708 EUR (146) 07/09/2010




342 Invesco Funds



Invesco Energy Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 371,151 EUR para vender 468,867 USD 1,813 07/09/2010Compra 1,798,149 USD para vender 1,375,050 EUR 54,361 07/09/2010


Compra 9,286,651 EUR para vender 12,074,973 USD (297,976) 07/09/2010Compra 365,180 USD para vender 288,713 EUR (953) 07/09/2010



Invesco Emerging Markets Quantitative Equity Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 3,149 USD para vender 2,019 GBP 32 07/09/2010Compra 6,287 USD para vender 4,901 EUR 74 07/09/2010


Compra 111,759 EUR para vender 147,355 USD (5,626) 07/09/2010Compra 46,676 GBP para vender 74,201 USD (2,169) 07/09/2010Compra 1,649 USD para vender 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 34,929 USD para vender 27,239 EUR 386 07/09/2010





Invesco Global Bond Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 1,566,000 USD para vender 1,000,000 GBP 23,292 25/10/2010Compra 3,862,220 USD para vender 3,000,000 EUR 57,761 20/09/2010

Total de beneficios no realizados de los contratos de divisas a plazo abiertos USD 81,053

Invesco European Bond Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 650,000 GBP para vender 786,378 EUR 4,379 29/10/2010Compra 3,283,628 EUR para vender 2,690,000 GBP 11,109 29/10/2010


Compra 410,132 EUR para vender 340,000 GBP (3,495) 29/10/2010Compra 540,000 GBP para vender 660,244 EUR (3,307) 29/10/2010


Total de beneficios no realizados de los contratos de divisas a plazo abiertos EUR 8,686

Invesco Absolute Return Bond Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 320,000 TRY para vender 208,727 USD 172 08/09/2010Compra 70,000 GBP para vender 84,925 EUR 257 08/09/2010Compra 324,465 EUR para vender 1,300,000 PLN 287 08/09/2010Compra 4,130,000 CNY para vender 606,283 USD 522 10/12/2010Compra 386,972 USD para vender 12,000,000 RUB 827 10/12/2010Compra 88,921 GBP para vender 107,302 EUR 906 07/09/2010Compra 40,700,000 PHP para vender 893,916 USD 1,307 17/09/2010Compra 930,000 PEN para vender 331,669 USD 1,654 10/12/2010Compra 451,905 EUR para vender 370,000 GBP 1,658 08/09/2010Compra 212,198 USD para vender 1,550,000 ZAR 2,036 08/09/2010Compra 821,073 EUR para vender 1,100,000 CAD 2,507 08/09/2010Compra 432,051 USD para vender 20,220,000 INR 2,730 17/09/2010Compra 223,350,000 HUF para vender 773,283 EUR 3,114 08/09/2010Compra 1,327,629 USD para vender 9,000,000 CNY 3,935 10/12/2010Compra 468,089 USD para vender 555,410,000 KRW 3,965 08/09/2010Compra 810,000 USD para vender 632,996 EUR 5,724 08/09/2010Compra 1,470,000 PEN para vender 517,606 USD 6,794 17/09/2010Compra 3,310,000 ILS para vender 856,249 USD 7,686 07/09/2010Compra 19,250,000 PHP para vender 414,246 USD 7,696 08/09/2010


343 Invesco Funds


7. Contratos a plazo sobre divisas (continuación) (continuación)

Invesco Absolute Return Bond Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 224,454 USD para vender 257,000,000 KRW 8,117 17/09/2010Compra 714,177 EUR para vender 5,650,000 NOK 8,626 08/09/2010Compra 2,900,000 ARS para vender 719,782 USD 8,771 17/09/2010Compra 5,650,000 NOK para vender 696,661 EUR 8,890 08/09/2010Compra 9,810,000 SEK para vender 1,035,203 EUR 10,256 08/09/2010Compra 2,550,000 ZAR para vender 331,143 USD 10,810 08/09/2010Compra 650,000 CHF para vender 492,297 EUR 11,184 08/09/2010Compra 1,360,000 MYR para vender 418,311 USD 11,467 17/09/2010Compra 857,135 USD para vender 3,220,000 ILS 11,592 08/09/2010Compra 1,830,986 USD para vender 12,350,000 CNY 13,630 27/09/2010Compra 626,415 EUR para vender 770,000 USD 19,238 08/09/2010Compra 1,124,433 EUR para vender 317,450,000 HUF 20,931 08/09/2010Compra 2,720,000 PLN para vender 657,188 EUR 21,092 08/09/2010Compra 705,629 EUR para vender 3,310,000 ILS 22,756 07/09/2010Compra 37,800,000 JPY para vender 418,073 USD 23,693 08/09/2010


Compra 4,224,053 EUR para vender 5,560,799 USD (160,871) 08/09/2010Compra 2,442,312 EUR para vender 274,750,000 JPY (126,098) 08/09/2010Compra 845,791 USD para vender 40,690,000 PHP (39,083) 17/09/2010Compra 977,979 EUR para vender 25,050,000 CZK (31,517) 08/09/2010Compra 1,022,162 EUR para vender 9,810,000 SEK (23,297) 08/09/2010Compra 12,350,000 CNY para vender 1,841,223 USD (21,702) 27/09/2010Compra 4,630,000 MXN para vender 295,998 EUR (18,594) 08/09/2010Compra 1,488,037 USD para vender 2,050,000 SGD (18,517) 08/09/2010Compra 662,872 EUR para vender 2,730,000 PLN (17,901) 08/09/2010Compra 1,650,771 EUR para vender 1,370,000 GBP (16,357) 08/09/2010Compra 13,340,000 CNY para vender 1,978,158 USD (13,969) 10/12/2010Compra 499,207 EUR para vender 660,000 CHF (12,021) 08/09/2010Compra 94,100,000 HUF para vender 339,062 EUR (11,957) 08/09/2010Compra 420,968 USD para vender 36,700,000 JPY (11,127) 08/09/2010Compra 12,000,000 RUB para vender 400,000 USD (11,102) 10/12/2010Compra 709,677 USD para vender 363,000,000 CLP (9,659) 10/12/2010Compra 257,000,001 KRW para vender 224,454 USD (8,117) 17/09/2010Compra 303,178 USD para vender 1,240,000 ARS (7,370) 17/09/2010Compra 434,751 EUR para vender 4,140,000 ZAR (6,736) 08/09/2010Compra 270,000 USD para vender 219,129 EUR (6,223) 08/09/2010Compra 2,050,000 SGD para vender 1,197,080 EUR (5,185) 08/09/2010Compra 3,220,000 ILS para vender 848,740 USD (4,972) 08/09/2010Compra 58,000,000 KZT para vender 396,717 USD (2,758) 17/09/2010Compra 555,400,001 KRW para vender 466,091 USD (2,396) 08/09/2010Compra 415,252 USD para vender 470,000 AUD (2,173) 08/09/2010Compra 431,198 USD para vender 1,360,000 MYR (1,305) 17/09/2010Compra 20,220,000 INR para vender 429,208 USD (488) 17/09/2010Compra 208,877 USD para vender 320,000 TRY (54) 08/09/2010


Total de pérdidas no realizados de los contratos de divisas a plazo abiertos EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 2,710,547 EUR para vender 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 1,400,000 EUR para vender 1,137,724 GBP 12,693 01/09/2010Compra 5,806,757 GBP para vender 6,920,000 EUR 120,409 01/09/2010Compra 3,040,390 GBP para vender 4,430,000 USD 169,917 01/09/2010


Compra 32,236 EUR para vender 40,722 USD 158 07/09/2010Compra 1,113,406 USD para vender 863,577 EUR 18,249 07/09/2010Compra 3,056,400 TRY para vender 1,946,628 USD 37,386 12/10/2010Compra 9,767,450 SGD para vender 7,052,310 USD 149,432 12/10/2010Compra 464,999,999 PHP para vender 10,000,000 USD 220,603 27/09/2010Compra 226,555,000 THB para vender 6,990,281 USD 246,472 06/10/2010


Total de beneficios no realizados de los contratos de divisas a plazo abiertos GBP 132,590


344 Invesco Funds



Invesco Emerging Local Currencies Debt Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 32,236 EUR para vender 40,722 USD 158 07/09/2010Compra 1,113,406 USD para vender 863,577 EUR 18,249 07/09/2010Compra 3,056,400 TRY para vender 1,946,628 USD 37,386 12/10/2010Compra 9,767,450 SGD para vender 7,052,310 USD 149,432 12/10/2010Compra 464,999,999 PHP para vender 10,000,000 USD 220,603 27/09/2010Compra 226,555,000 THB para vender 6,990,281 USD 246,472 06/10/2010


Compra 34,047,913 EUR para vender 44,675,847 USD (1,497,502) 07/09/2010Compra 11,030,760 USD para vender 9,000,000 EUR (382,720) 07/09/2010Compra 87,763,000 CNY para vender 13,000,000 USD (106,354) 12/11/2010Compra 89,820,000 RUB para vender 3,000,000 USD (102,851) 08/11/2010Compra 33,725,000 CNY para vender 5,000,000 USD (45,091) 19/11/2010Compra 22,262,499,999 IDR para vender 2,500,000 USD (37,399) 03/09/2010Compra 2,400,000 USD para vender 7,568,400 MYR (7,113) 27/09/2010

Total de pérdidas no realizados de los contratos de divisas a plazo abiertos (2,179,030)

Total de pérdidas no realizados de los contratos de divisas a plazo abiertos USD (1,506,730)

Invesco Global Investment Grade Corporate Bond Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 132,231 USD para vender 84,861 GBP 1,264 01/09/2010Compra 1,154,570 USD para vender 745,000 GBP 5,527 01/12/2010Compra 170,000 GBP para vender 254,124 USD 8,237 01/09/2010Compra 4,625,638 USD para vender 3,640,000 EUR 10,196 01/12/2010Compra 585,000 EUR para vender 718,458 USD 23,422 01/09/2010Compra 1,755,679 USD para vender 1,340,000 EUR 56,331 01/09/2010


Compra 4,186,915 EUR para vender 5,523,484 USD (213,788) 07/09/2010Compra 3,727,116 USD para vender 3,035,000 EUR (121,783) 01/09/2010Compra 1,201,799 USD para vender 830,000 GBP (79,141) 01/09/2010Compra 150,000 EUR para vender 194,808 USD (4,582) 01/09/2010Compra 89,554 GBP para vender 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 1,339,464 GBP para vender 1,600,001 EUR 24,518 20/09/2010


Compra 43,600 GBP para vender 70,000 CHF (966) 20/09/2010Compra 81,321 EUR para vender 67,528 GBP (702) 07/09/2010


Total de beneficios no realizados de los contratos de divisas a plazo abiertos GBP 22,850

Invesco Capital Shield 90 (EUR) Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 100,000 GBP para vender 121,631 EUR 51 15/09/2010Compra 834,387 EUR para vender 685,000 GBP 864 15/09/2010Compra 55,899,999 JPY para vender 512,379 EUR 10,226 15/09/2010


Compra 26,269,838 EUR para vender 33,850,000 USD (422,432) 15/09/2010Compra 1,267,656 EUR para vender 138,700,001 JPY (29,043) 15/09/2010Compra 33,500,000 JPY para vender 313,994 EUR (804) 15/09/2010Compra 121,242 EUR para vender 100,000 GBP (441) 15/09/2010Compra 95,000 GBP para vender 115,858 EUR (260) 15/09/2010




345 Invesco Funds



Invesco Asia Balanced Fund No realizados de contratosDatos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 526,707 USD para vender 412,508 EUR 3,579 07/09/2010


Compra 3,556,131 EUR para vender 4,674,162 USD (164,404) 07/09/2010



Invesco Pan European High Income Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoBuy 2,265,144 EUR para vender 1,850,000 GBP 14,527 29/10/2010


Compra 1,789,848 EUR para vender 1,500,000 GBP (35,322) 20/09/2010Compra 709,161 EUR para vender 600,000 GBP (20,871) 27/09/2010Compra 656,403 EUR para vender 550,000 GBP (12,859) 13/09/2010Compra 140,741 EUR para vender 190,000 CHF (6,525) 16/11/2010Compra 2,608,938 EUR para vender 2,150,000 GBP (6,438) 16/11/2010Compra 1,573,787 EUR para vender 2,000,000 USD (3,414) 29/10/2010Compra 120,642 EUR para vender 100,000 GBP (1,022) 12/10/2010Compra 303,693 EUR para vender 250,000 GBP (450) 25/10/2010



Invesco Global Absolute Return Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 528 EUR para vender 669 USD 1 07/09/2010Compra 74,532 EUR para vender 100,000 CAD 108 01/09/2010Compra 68,262 USD para vender 51,815 EUR 2,013 07/09/2010Compra 5,000,000 JPY para vender 43,881 EUR 2,855 01/09/2010Compra 1,200,000 USD para vender 935,490 EUR 10,755 01/09/2010Compra 900,000 GBP para vender 1,080,049 EUR 15,206 01/09/2010


Compra 1,986,806 EUR para vender 2,600,000 USD (63,392) 01/09/2010Compra 736,761 EUR para vender 1,000,000 CHF (37,775) 01/09/2010Compra 279,831 EUR para vender 31,000,000 JPY (9,935) 01/09/2010Compra 1,300,000 CAD para vender 973,492 EUR (5,976) 01/09/2010Compra 614,170 EUR para vender 800,000 CHF (5,620) 01/10/2010Compra 700,000 GBP para vender 855,327 EUR (3,644) 01/10/2010Compra 334,271 EUR para vender 36,000,000 JPY (2,355) 01/10/2010Compra 156,981 EUR para vender 200,000 USD (730) 01/10/2010Compra 73,919 EUR para vender 100,000 CAD (506) 01/09/2010Compra 121,551 EUR para vender 100,000 GBP (144) 01/09/2010Compra 594 EUR para vender 764 USD (8) 07/09/2010Compra 600,000 CAD para vender 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund No realizados de contratos Datos de beneficios/(pérdidas) a plazo de divisas Fecha de vencimientoCompra 122,772 GBP para vender 148,129 EUR 1,272 07/09/2010Compra 136,947 USD para vender 103,941 EUR 4,048 07/09/2010Compra 8,703,663 EUR para vender 10,702,000 USD 264,717 03/09/2010


Compra 3,347,000 USD para vender 2,672,478 EUR (33,238) 03/09/2010Compra 860,684 EUR para vender 1,100,000 USD (6,710) 03/09/2010Compra 1,425 GBP para vender 1,740 EUR (6) 07/09/2010


Total de beneficios no realizados de los contratos de divisas a plazo abiertos EUR 230,083


346 Invesco Funds


8. FuturosDescripción Número de contratos Compromiso Largo/Corto Ganancia / (pérdida) no

materializada en la divisabase del subfondo

Invesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Largo (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Largo (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Largo (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Largo (2,854)

Pérdidas latentes totales USD (69,760)

Invesco US Structured Equity FundS&P 500 EMINI 17/09/2010 29 1,566,338 Largo (55,619)


Invesco US 130/30 Equity FundS&P 500 EMINI 17/09/2010 1 55,125 Largo (3,031)


Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Largo (251,895)FTSE 100 Index Future 17/09/2010 69 4,303,963 Largo (26,928)

Pérdidas latentes totales EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Largo (4,065)FTSE 100 Index Future 17/09/2010 1 62,726 Largo (1,034)


Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Corto (168,760)US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Corto (27,344)Long Gilt Future 29/12/2010 (10) (1,939,476) Corto (4,899)


Invesco European Bond FundEuro Bobl Future 08/09/2010 6 730,020 Largo 5,490

Beneficios latentes totales EUR 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Corto (44,000)Euro Bund Future 08/09/2010 (16) (2,117,250) Corto (33,710)Long Gilt Future 29/12/2010 (34) (5,193,777) Corto (13,176)

Pérdidas latentes totales (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Corto 2,860Euro Bund Future 08/09/2010 3 389,271 Largo 14,034

Beneficios latentes totales 16,894

US 10 Year Note Future 21/12/2010 (11) (1,092,052) Corto (566)Long Gilt Future 29/12/2010 (6) (912,789) Corto (3,345)Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Corto (29,059)Euro Bobl Future 08/09/2010 (60) (7,236,900) Corto (118,200)



Invesco Euro Corporate Bond FundEuro Bund Future 08/09/2010 (110) (14,396,620) Corto (391,230)


Invesco UK Investment Grade Bond FundUS 5 Year Note Future 31/12/2010 (12) (929,317) Corto 974

Beneficios latentes totales 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Corto (28,201)US 10 Year Note Future 21/12/2010 (29) (2,343,750) Corto (1,753)Long Gilt Future 29/12/2010 (6) (750,060) Corto (1,440)


Total de pérdidas no realizados de los contratos de divisas a plazo abiertos GBP (30,420)


347 Invesco Funds


8. Futuros (continuación)Descripción Número de contratos Compromiso Largo/Corto Ganancia / (pérdida) no

materializada en la divisabase del subfondo

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Corto 719Canada 10 Year Bond Future 20/12/2010 2 237,398 Largo 817Euro Schatz Future 08/09/2010 3 403,862 Largo 1,23510 Year Mini JGB Future 08/09/2010 2 308,414 Largo 5,034Euro Bobl Future 08/09/2010 2 296,765 Largo 5,039US Long Bond (CBT) Future 21/12/2010 6 802,875 Largo 5,719US 5 Year Note Future 31/12/2010 60 7,193,250 Largo 12,609


US 10 Year Note Future 21/09/2010 (53) (6,473,914) Corto (219,406)US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Corto (914)



Invesco Capital Shield 90 (EUR) FundUS 10 Year Note Future 21/12/2010 404 39,873,681 Largo 53,95510 Year Mini JGB Future 08/09/2010 214 27,158,681 Largo 267,653Euro Bund Future 08/09/2010 298 38,814,270 Largo 1,247,360

Beneficios latentes totales 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Largo (1,242,045)Nikkei 225 Future 09/09/2010 249 10,680,824 Largo (923,938)DJ Euro Stoxx 50 Future 17/09/2010 347 9,459,120 Largo (477,025)FTSE 100 Index Future 17/09/2010 143 8,990,297 Largo (163,962)

Pérdidas latentes totales (2,806,970)

Pérdidas latentes totales EUR (1,238,002)

Invesco Pan European High Income FundDJ Euro Stoxx Future 19/03/2010 50 1,355,250 Largo (74,750)


Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Largo 2,25010 Year Mini JGB Future 08/09/2010 5 634,004 Largo 8,590Euro Bund Future 08/09/2010 10 1,319,690 Largo 24,660


S&P 500 EMINI 17/09/2010 13 563,239 Largo (20,516)DJ Euro Stoxx 50 Future 17/09/2010 19 504,650 Largo (12,835)Nikkei 225 Future 09/09/2010 5 211,722 Largo (9,189)FTSE 100 Index Future 17/09/2010 4 250,095 Largo (488)



Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Largo 3,256Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Largo 13,343Long Gilt Future 29/12/2010 28 4,257,975 Largo 17,308Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Largo 39,53310 Year Mini JGB Future 08/09/2010 67 8,635,365 Largo 132,934Euro Bund Future 08/09/2010 42 5,427,430 Largo 218,840

Pérdidas latentes totales 425,214

Russell 2000 Mini Future 17/09/2010 27 1,376,550 Largo (81,086)S&P 500 EMINI 17/09/2010 39 1,700,904 Largo (76,142)DJ Euro Stoxx 50 Future 17/09/2010 58 1,576,490 Largo (75,160)Topix Index Future 09/09/2010 9 705,392 Largo (47,829)Hang Seng Index Future 29/09/2010 14 1,453,370 Largo (12,773)FTSE 100 Index Future 17/09/2010 25 1,561,823 Largo (9,829)

Beneficios latentes totales (302,819)

Pérdidas latentes totales EUR 122,395


348 Invesco Funds


9. Swaps de incumplimiento crediticio

Compra/Venta Fecha de Valor Divisa Ganancias/de riesgo Denominación vencimiento nominal pérdidas no

realizadasen ledivisa base

del subfondoInvesco Absolute Return Bond FundCompra Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Total de Pérdidas no realizadas de los swaps de incumplimiento crediticio EUR 51,684

Invesco Global Unconstrained Bond FundCompra Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196

Total de Beneficios no realizadas de los swaps de incumplimiento crediticio 2,196

para vender French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

para vender Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

para vender Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)

Total de Pérdidas no realizadas de los swaps de incumplimiento crediticio (35,563)

Total de Pérdidas no realizadas de los swaps de incumplimiento crediticio GBP (33,367)

Invesco Pan European High Income Fundpara vender Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411para vender British Energy 4.55% 20/03/2013 300,000 EUR 30,869Compra Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145

Total de Beneficios no realizadas de los swaps de incumplimiento crediticio EUR 102,425

10. Permutas financieras de acciones

No habia tipo de interés que intercambios aguantaron ningún fondo como enel fin del periodo, 31 agosto 2010.

11. Equity SwapsInvesco US 130/30 Equity FundTítulo Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada

subyacentes Neto del Fondo en ladivisa basedel subfondo

AK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672Martin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Total de beneficios no realizadas de los Permutas financieras de acciones 36,330


349 Invesco Funds


11. Equity Swaps (continuación)

Invesco US 130/30 Equity Fund (continuación)Título Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada




Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)



Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)


Pfizer Inc 4,700 USD 75,341 1.96% (846)




ProLogis (300) USD (3,060) (0.08%) (167)



Total de pérdidas no realizadas de los Permutas financieras de acciones (44,706)

Total de pérdidas no realizadas de los Permutas financieras de acciones USD (8,376)

Invesco Pan European 130/30 Equity FundTítulo Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada





350 Invesco Funds



Invesco Pan European 130/30 Equity Fund (continuación)Título Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada



Total de pérdidas no realizadas de los Permutas financieras de acciones (73,438)

Total de beneficios no realizadas de los Permutas financieras de acciones EUR 65,683

Invesco Global Absolute Return FundTítulo Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada


Abertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294






BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915






351 Invesco Funds



Invesco Global Absolute Return Fund (continuación)Título Cantidad de Divisa Compromiso en Compromiso en % Ganancia/(pérdida) subyacente acciones la Divisa Local del Patrimonio no materializada











Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391




Hitachi Construction Machinery Co Ltd (1,500) JPY (2,679,000) (0.52%) 1,635D R Horton 1,600 USD 19,424 0.27% 235Daihatsu Motor 5,000 JPY 4,200,099 0.66% 411Daikin Industries (600) JPY (2,139,000) (0.34%) 742Dollar Tree 600 USD 29,622 0.42% 2,977Dsg International (24,833) GBP (8,853) (0.19%) 1,490Ebay 1,000 USD 22,470 0.31% 386Edp Renovaveis (3,035) EUR (20,395) (0.39%) 2,253Electronic Arts (1,200) USD (20,436) (0.29%) 424Elpida Memory (1,800) JPY (3,310,200) (0.52%) 3,738Energizer Holdings (200) USD (12,722) (0.18%) 827Equinix (435) USD (44,418) (0.62%) 2,493Experian Group 6,557 GBP 39,572 0.85% 478F5 Networks 300 USD 15,417 0.22% 877Fast Retailing 100 JPY 1,438,719 0.23% 521First Niagara Financial (2,800) USD (40,096) (0.56%) 227

Hubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925



Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314



352 Invesco Funds




subyacentes Neto del Fondo en ladivisa basePanera Bread Co 500 USD 39,005 0.66% 551


Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104













Terex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162









AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)


Amgen Inc 776 USD 41,066 0.70% (829)











353 Invesco Funds




subyacentes Neto del Fondo en ladivisa baseBerkeley Group Holdings Plc 2,860 GBP 23,510 0.61% (435)


Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)





Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)










K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)






Masco Corp 1,698 USD 19,069 0.32% (1,094)





354 Invesco Funds




subyacentes Neto del Fondo en ladivisa baseMinebea Co Ltd 6,000 JPY 3,042,000 0.59% (6,586)






Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)












Rhodia SA 1,221 EUR 18,724 0.41% (757)




Sara Lee Corp 907 USD 13,052 0.22% (34)



Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)




SKF AB 1,529 SEK 209,448 0.48% (895)











Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)


Toro Co 400 USD 20,128 0.34% (200)





TUI AG 2,338 EUR 18,849 0.41% (539)


USS Co Ltd 180 JPY 1,148,400 0.22% (296)



355 Invesco Funds




subyacentes Neto del Fondo en ladivisa baseWal-Mart Stores Inc (800) USD (40,328) (0.69%) (76)




Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)

Total de pérdidas no realizadas de los Permutas financieras de acciones 288,414

Total de pérdidas no realizadas de los Permutas financieras de acciones EUR (78,570)

12. Política de determinación de precios fluctuantes

Los títulos se valoran según lo explicado en la nota 2(b). No obstante, con el fin de mitigar los efectos de la dilución, el Fondo ha implantado una

política de "Determinación de precios fluctuantes" a partir del 18 de diciembre de 2007.

En beneficio de los Accionistas, los Consejeros podrán permitir el ajuste del patrimonio neto utilizando el precio de mercado de compra o venta en

lugar del precio medio, dependiendo de la actividad neta de las acciones derivada de las suscripciones, reembolsos o canjes de un subfondo en un

día hábil determinado.

Los subfondos aplican sólo una fluctuación parcial. Es decir, los Subfondos no fluctuarán a una base de precios de compra o venta a diario, sino

sólo cuando se supere un nivel predeterminado de actividad de los accionistas. Un nivel de reembolso alto dará lugar a la fluctuación a una base

de precios de compra, mientras que un nivel de suscripción alto dará lugar a la fluctuación a una base de precios de venta. Los Consejeros tienen

la posibilidad de situar un subfondo en fluctuación constante dependiendo de las tendencias recientes del subfondo

La reconciliación a 31 de agosto de 2010 de la fijación de precio MID a BID/ASK (COMPRA/VENTA) es la siguiente:

Determinación de precios de COMPRABID Pricing A Dist. A Accum Dist A A Accum B Accum Distribution C C Accum C Hedg Accumulation E Accum I Accum

Hedg Hedg (EUR) C Hedg (GBP)Invesco US Structured Equity Fund Mid Valuation - 11.50 - 6.38 10.67 - 11.93 6.63 - 8.53 9.12 Bid Valuation - 11.48 - 6.36 10.65 - 11.91 6.62 - 8.52 9.11




ASK Pricing





13. Estado de variación patrimonialUna lista, que especifica para cada inversión, las compras y ventas totales que se registraron en el ejercicio bajo revisión, puede obtenerse, previa

solicitud y de forma gratuita, en el Domicilio Social y en la Oficina de Representación en Hong Kong del Fondo.



14. Categoría de fondo de repartoSe solicitó la certificación de "fondo de reparto" conforme a la Ley del Impuesto de Sociedades del Reino Unido (Income and Corporation Taxes

Act) de 1988, a efectos de la tributación en el Reino Unido, para el ejercicio finalizado el 28 de febrero de 2010 en relación con las acciones de

reparto A y C de los siguientes Fondos (cuando proceda); no había títulos en préstamo a 31 de agosto de 2010. El ingreso por préstamo de títulos

se contabiliza en “Otros ingresos” en el Estado de Operaciones y Cambios en el Patrimonio Neto (revelado solo a final de ejercicio).


15. Préstamo de valores El Fondo suscribió un contrato de préstamo de valores con State Street en noviembre de 2007.

No había ningunos valores por el préstamo el 31 de agosto de 2010.

La seguridad prestando ingresos es registrada bajo “Otros Ingresos” en la Declaratión de Operaciones y Cambios de Activos Nett (revelado en el año

se terminan sólo).

16. Comisiones en especie y operaciones con partes vinculadasAlgunas filiales de Invesco Ltd (en lo sucesivo, el "Grupo"), con el fin de obtener el mejor resultado neto posible, incluida la ejecución de las operaciones

en condiciones óptimas, pueden celebrar contratos con otras partes en virtud de los cuales éstas pueden efectuar pagos por servicios de inversión

prestados al Grupo.

El Grupo utiliza servicios de inversión para mejorar o ampliar los servicios prestados a sus clientes. Si bien cabe que no todos los servicios se utilicen

para prestar servicio a todas y cada una de las cuentas administradas por el Grupo, éste considera que, en conjunto, dichos servicios de inversión

recibidos representan una asistencia significativa para el desempeño de sus funciones de inversión y una ventaja demostrable para todos los clientes.

Únicamente serán pagados por contrapartes los servicios que contribuyan a la prestación de servicios de inversión a los clientes del Grupo.

Los servicios de inversión admisibles incluyen servicios destinados a prestar asistencia al Grupo en su labor de inversión. Dichos servicios incluyen, a

título meramente enunciativo y no limitativo, análisis, estudios y asesoramiento, incluyendo factores y tendencias económicos, valoración y análisis de

carteras, medición de rentabilidades, servicios de cotizaciones de mercado y la utilización de software y hardware especializados u otros medios en

información.

El Grupo garantizará la observancia de sus obligaciones para con sus clientes, en el proceso de decisión en materia de inversiones, en conformidad con

la legislación de los países con jurisdicción sobre sus clientes o actividades. La aplicación de esta norma puede variar en función de la conveniencia de

los servicios de inversión prestados.

El Grupo selecciona a las contrapartes con las que contrata la ejecución de las operaciones sobre la base de que éstas únicamente se ejecutarán a

condición de que las órdenes cursadas no produzcan un efecto contrario al interés de los clientes del Grupo y que el múltiplo se encuentre a un nivel

coherente con la práctica generalmente aceptada en el mercado. El Grupo hará cuanto esté a su alcance por obtener condiciones de ejecución óptimas

en todas las operaciones, para todos los clientes.

Asimismo, los clientes pueden dar instrucciones al Grupo para que pague comisiones a contrapartes por productos y servicios que, si no, tendrían que

de ser remunerados. En tales casos, la comisión se utilizará en beneficio exclusivo del cliente cuyas operaciones la hayan generado.El Grupo hará

cuanto esté a su alcance por mantener las normas más exigentes posibles en la regulación de su actividad en todo el mundo.

El Grupo hará cuanto esté a su alcance por mantener las normas más exigentes posibles en la regulación de su actividad en todo el mundo.

356 Invesco Funds


357 Invesco Funds

Memória relativa às demonstrações financeiras

1. GeneralidadesA Invesco Funds (adiante designado por "Fundo") é uma sociedade gestora de fundos de investimento constituída ao abrigo da Parte 1 da Lei do

Luxemburgo sobre investimento colectivo de 20 de Dezembro de 2002 como "Société Anonyme" com prerrogativas de Société d'Investissement à

Capital Variable ("SICAV"). A Invesco Funds é um agrupamento de fundos que abrange 41 subfundos, sendo que cada um destes subfundos é

tratado como uma entidade independente. As demonstrações financeiras anexas foram elaboradas em conformidade com os requisitos

estabelecidos pelos regulamentos luxemburgueses.

(b) Invesco India (Mauritius) LimitedOs investimentos nos títulos indianos são realizados através de uma filial Maurícia em propriedade absoluta, Invesco India (Mauritius) Limited (a

"Filial"), cujo único objectivo é levar a cabo actividades de investimento em nome do fundo. A Filial é propriedade absoluta da Invesco India Equity

Fund. A Filial tem uma Licença de Negócios Internacionais de categoria 1 emitida pela Autoridade Maurícia de Actividades de Negócios Offshore.

Logo, a taxa de imposto Maurícia à qual estão sujeitos os rendimentos é reduzida. Além disso, relativamente aos investimentos da Filial na Índia,

não se aplicarão quaisquer comissões mauritanas sobre os dividendos e estes bem como os benefícios de resgate pagos pela Filial à Invesco India

Equity Fund estarão isentos de retenção fiscal nas Maurícias.

(c) Classes de AcçõesAs acções de alguns dos subfundos estão disponíveis em seis classes (Classe A, Classe B, Classe B1, Classe C, Classe E e Classe I). As Classes de

Acções A estão disponíveis sem qualquer restrição. As Acções de Classe B estão disponíveis para clientes e distribuidores ou intermediários

designados especificamente para a sua distribuição e unicamente no caso de Fundos para os quais os acordos de distribuição tivessem sido feitos

com esses mesmos distribuidores. As Acções de Classe C estão disponíveis para todos os investidores, mas como têm um montante mínimo de

subscrição inicial mais elevado e beneficiam de comissões de gestão reduzidas, destinam-se essencialmente aos grandes investidores ou aos

investidores institucionais. As Acções de Classes E (em Euros), comparativamente com as Acções de Classe A ou de Classe C, têm uma comissão

inicial menor e uma comissão de gestão anual superior maior. As Acções de Classe B1 só estão disponíveis para clientes do Merrill Lynch. As

Acções de Classe I estão denominadas em Euros e só estão disponíveis para clientes institucionais detentores de um Acordo de Gestão Institucional

com a Invesco. Em alguns dos subfundos A & C existem classes de acções de distribuição, classes de acções hedged e classes de acções de

distribuição fixas.

Estão disponíveis Classes de Acções Hedged para investidores em diversos sub-fundos. Para tais classes de Acções, a SICAV poderá cobrir a

exposição das divisas das classes de Acções denominadas numa divisa que não seja a divisa de base do fundo relevante, a fim de tentar mitigar o

efeito das flutuações da taxa de câmbio entre as divisas da classe de Acções e a divisa de base.

(c) Actividade do FundoClasses de Acções Hedged A e C EURCom efeito a partir de 31 de Março de 2010, foram lançadas as classes de acções Hedged ‘A’ e ‘C’ nos seguintes sub-fundos:Invesco Asia Infrastructure Fund




Invesco Euro Reserve Fund Com efeito a partir de 31 de Março de 2010, foi lançada a classe de acções de Distribuição Anual ‘A’ no Invesco Euro Reserve Fund.

Invesco Energy FundCom efeito a partir de 31 de Março de 2010, foi lançada a classe de acções de Distribuição Anual ‘A’ no Invesco Energy Fund.

Invesco Global Absolute Return FundCom efeito a partir de 29 de Abril de 2010, foi lançada a classe de acções de USD Hedged ‘C’ no Invesco Global Absolute Return Fund.

Invesco Balanced-Risk Allocation FundCom efeito a partir de 29 de Abril de 2010, foram lançadas as seguintes classes de acções no Invesco Balanced-Risk Allocation Fund:

- Classe de acções Hedged ‘A’ USD

- Classe de acções Hedged ‘C’ USD

- Classe de acções de Distribuição Anual ‘A’

Invesco Global Investment Grade Corporate Bond FundCom efeito a partir de 29 de Abril de 2010, foram lançadas as seguintes classes de acções no Invesco Global Investment Grade Corporate Bond Fund:

- Classe de acções de Acumulação Hedged ‘C’ GBP

- Classe de acções de Distribuição Mensal ‘A’ USD

Invesco Global Structured Equity FundCom efeito a partir de 29 de Abril de 2010, foram lançadas as seguintes classes de acções no Invesco Global Structured Equity Fund:

- Classe de acções Hedged ‘A’ EUR

- Classe de acções Hedged ‘C’ EUR

- Classe de acções de Acumulação Hedged ‘C’ GBP

Invesco Pan European Structured Equity FundCom efeito a partir de 29 de Abril de 2010, foi lançada a classe de acções de Distribuição Anual ‘A’ no Invesco Pan European Structured Equity Fund.

Invesco Gold & Precious Metals FundO Invesco Gold & Precious Metals Fund foi lançado em 21 de Junho de 2010.

Invesco Global Unconstrained Bond FundO Invesco Global Unconstrained Bond Fund foi lançado em 21 de Junho de 2010.


358 Invesco Funds

Memória relativa às demonstrações financeiras – (continuaçäo)

1. Generalidades (continuação)

Invesco Emerging Markets Quantitative Equity FundO Invesco Emerging Markets Quantitative Equity Fund foi lançado em 21 de Junho de 2010.

Invesco Latin American Equity FundO Invesco Latin American Equity Fund foi lançado em 11 de Agosto de 2010.

Invesco Absolute Return Bond FundCom efeito a partir de 11 de Agosto 2010, foi lançada a classe de acções Hedged ‘C’ GBP no Invesco Absolute Return Bond Fund.

Invesco Emerging Local Currencies Debt FundCom efeito a partir de 11 de Agosto 2010, foi lançada a classe de acções de Distribuição Mensal Hedged ‘A’ EUR no Invesco Emerging Local

Currencies Debt Fund.

Invesco Global Total Return (EUR) Bond FundO Invesco Global Total Return (EUR) Bond Fund foi lançado em 15 de Setembro 2010.

Invesco Global Absolute Return FundCom efeito a partir de 15 de Setembro de 2010, foi lançada a classe de acções de JPY Hedged ‘C’ no Invesco Global Absolute Return Fund.

Variações na estrutura organizacional- Com efeito a partir de 1 de Março de 2010, o Agente Administrativo, Agente de Registo e Agente de Transmissões foi alterado do RBC Dexia Investor

Services Bank S.A. para o BNY Mellon (International) Limited.

- Com efeito a partir de 1 de Março de 2010, o Agente Domiciliário e Corporativo foi alterado do RBC Dexia Investor Services Bank S.A. para o BNY


- Com efeito a partir de 1 de Março de 2010, a banco depositário e Agente de Pagamento foi alterada do J.P.Morgan Bank Luxembourg S.A. para o

Bank of New York Mellon Limited, sucursal de Luxemburgo.

- Com efeito a partir de 1 de Março de 2010, a Sede Oficial da Invesco Funds foi alterada de 69, route d'Esch, L-1470 Luxembourg, Grão-Ducado do

Luxemburgo para 46A, Avenue John F. Kennedy, L-1855 Luxembourg, Grão-Ducado do Luxemburgo. Com efeito a partir de 15 de Maio de 2010, a

Sede Oficial mudou para 2-4 rue Eugène Ruppert, L-2453 Luxembourg, Grão-Ducado do Luxemburgo.

(d) PEA Disclosure (Plan d’Epargne en Actions)De 1 de Março de 2010 até 31 de Agosto de 2010, os seguintes subfundos detinham, tal como especificado na tabela, a percentagem média dos

seus activos investida, numa dada altura, em valores mobiliários elegíveis do PEA, conforme definido no Artigo L.221-31 do Code Monétaire et

Financier. Isto é exigido aos subfundos registados em França que cumpram os requisitos do Plano de Poupança de Acções (PEA). Também são

indicados os investimentos de percentagem máxima durante este período:


Minimum % 85.92 76.12 83.18 78.90

Maximum % 90.09 82.76 88.96 87.71

Average % 87.72 81.24 85.24 86.49

2. Resumo das principais práticas contabilísticas(a) Os valores de consolidação constantes da demonstração da situação líquida e demonstração de variação da situação líquida visam

exclusivamente fins estatísticos, não devendo, neste contexto, ser utilizados pelos investidores com posições em um ou diversos sub-fundos.

(b) Valorização dos investimentosNormalmente, os investimentos, incluindo os instrumentos derivados financeiros, serão valorizados com base no último preço de negociação ou na

última cotação de mercado intermédio disponível (o ponto intermédio entre a última oferta citada e os preços de oferta) dos valores mobiliários no

mercado de valores mobiliários no qual os investimentos do Fundo são negociados, citados ou transaccionados de acordo com o Ponto de

Valorização do dia em causa. Quando os investimentos de um Fundo são cotados numa bolsa de valores e transaccionados por market makers fora

da bolsa de valores na qual os investimentos estão cotados, o SICAV determina o mercado principal para os investimentos em questão, sendo

valorizados de acordo com o último preço disponível nesse mercado. Os valores mobiliários que não sejam cotados ou transaccionados numa

bolsa de valores, mas que são transaccionados noutro mercado regulado serão valorizados de um modo o mais semelhante possível àquele

descrito acima. Se não houver um preço disponível para qualquer dos valores mobiliários detidos por um Fundo ou se o valor determinado nos

termos dos pontos acima não for representativo do justo valor de mercado dos valores mobiliários em questão, o valor desses valores mobiliários

será baseado no preço de venda razoavelmente previsível, determinado prudentemente e em boa-fé.

As demonstrações financeiras foram preparadas com base nos últimos valores patrimoniais líquidos determinados no período de contabilidade. Emconformidade com o Prospecto, os valores patrimoniais líquidos foram calculados com referência aos últimos preços disponíveis às 10H00 (horade Dublin) de 31 de agosto de 2010. Os ajustes foram feitos para subscrições e resgates em sub-fundos de distribuição, que se tornaram ex-dividendos a 31 de agosto de 2010.

(c) Impacto sobre os ValoresA título informativo, se o valor patrimonial líquido tiver sido calculado pelo Fundo unicamente para publicação, os preços de mercado usados paravalorizar a carteira de investimentos seriam os preços de fecho a 31 de agoste de 2010 para toda a carteira de investimentos, incluindo as AcçõesAmericanas e Europeias. No entanto, estes valores patrimoniais líquidos não seriam significativamente diferentes dos exibidos nestas ContasAnuais Auditadas, à excepção dos seguintes sub-fundos:

- Invesco Emerging Europe Equity Fund: um aumento no Valor Patrimonial Líquido de cerca de 1.48% teria sido observado.- Invesco Latin American Equity Fund: um aumento no Valor Patrimonial Líquido de cerca de 1.14% teria sido observado.

(d) Custo de alienação dos investimentosOs eventuais excedentes ou défices resultantes da venda de activos financeiros determinam-se com base no critério do custo médio.


359 Invesco Funds


2. Resumo das principais práticas contabilísticas (continuação)

(e) Receitas dos investimentosOs lucros a título de dividendos são contabilizados relativamente a uma base com exclusão dos dividendos. Os lucros a título de juros de valores de

rendimento fixo e de depósitos são diariamente acumulados.

(f) DivisasAs transacções realizadas em divisas diferentes da divisa designada para cada sub-fundo são convertidas às taxas cambiais em vigor no momento

em que as referidas transacções são efectuadas. O valor de mercado dos activos financeiros e de activo e passivo diversos em divisas diferentes

da divisa designada para cada sub-fundo é convertido às taxas cambiais em vigor no final do exercício.

As principais taxas de câmbio usadas a 31 de agosto de 2010:

Divisa USD 1.00 Divisa USD 1.00


(g) Distribuição de despesasSempre que o Fundo realize despesas relacionadas com um sub-fundo específico, essas despesas são imputadas ao sub-fundo em causa. Nos

casos em que essas despesas não puderem ser imputadas a um sub-fundo específico, as referidas despesas são distribuídas pelos sub-fundos com

base nos seus valores contabilísticos respectivos.

(h) Despesas de constituiçãoAs despesas preliminares serão amortizadas ao longo dos primeiros 5 anos. Os sub-fundos lançados de 2006 em diante estão sujeitos àamortização máxima de 0,05% do valor patrimonial líquido médio em qualquer ano contabilístico. Quaisquer despesas não amortizadas no finaldos 5 anos ou do prazo de liquidação serão suportadas pela Sociedade Gestora.

(i) Contratos cambiais a prazoOs ganhos ou perdas não realizados em contratos cambiais a prazo abertos são calculados como a diferença entre a taxa contratada e a taxa parafechar o contrato. Os ganhos ou perdas realizados incluem ganhos líquidos em contratos que foram liquidados ou compensados com outroscontratos (consulte a nota 7 para obter mais detalhes). Os ganhos ou perdas realizados incluem resultados líquidos com contratos que foramliquidados ou compensados com outros contratos e estão registados na Demonstração de Operações e Variações no Activo Líquido (divulgadosapenas no final do ano).

(j) Contratos de futurosOs instrumentos financeiros derivados são inicialmente contabilizados ao custo e posteriormente são reavaliados pelo justo valor. Os justos valoressão obtidos a partir das cotações de mercado e das taxas de câmbio. Todos os derivados são transportados para os activos quando são montantesa receber pela Sociedade e para os passivos quando são montantes a pagar pela Sociedade. As variações nos justos valores dos contratos defuturos são incluídas na Demonstração do Activo Líquido (consultar a nota 8 para mais informações).

(k) Swaps de incumprimento de créditoUm swap de incumprimento de crédito é uma transacção de derivado de crédito em que duas partes celebram um contrato, nos termos do qualuma das partes se compromete a pagar à outra um cupão periódico fixo durante a vida útil especificada do contrato. A outra parte não fazqualquer pagamento, a menos que ocorra um evento de crédito, relacionado com um activo de referência previamente determinado. Se tal eventoocorrer, esta parte fará então um pagamento à primeira parte e o swap será terminado. Os swaps de incumprimento de crédito são diariamentemarcados para o mercado com base nas cotações dos market makers e registados na Demonstração do Activo Líquido (consulte a nota 9 paraobter mais detalhes).

(l) Swaps de taxas de juroUm swap de taxa de juro é um contrato bilateral em que cada uma das partes aceita trocar uma série de pagamentos de juros por outra série depagamentos (normalmente, fixos/variáveis) com base numa quantia nocional que serve como base de computação e que normalmente não étrocada. Os swaps de taxas de juro são diariamente marcados para o mercado com base nas cotações dos market makers e registados naDemonstração do Activo Líquido. (consultar a nota 10 para mais informações).

(m) Equity SwapsUm swap de acções é uma transacção derivada, na qual o Fundo e a parte contratante assinam um acordo, pelo qual uma das partes paga osrendimentos gerados por uma acção ou um cesto de acções. A outra parte paga juros com base num montante teórico de transacção acordado. Osjuros recebidos/pagos sobre swaps de acções são registados como outros rendimentos/outras despesas na Demonstração de Operação e Variaçãodo Activo Líquido. O valor das transacções de swaps de acções é o valor actual líquido de todos os fluxos de capital, ou seja, tanto entradas, comosaídas de capital. Os swaps de acções são registados na Demonstração de Activos Líquidos (ver nota 11 para mais detalhes).


360 Invesco Funds


3. Comissões do Consultor de Gestão e Investimento

O Conselho de Administração do Fundo (a "Administração") é responsável pela política de investimento, gestão e administração do Fundo. A

Administração delega a gestão de investimentos diária da carteira de títulos do Fundo à Invesco Management S.A. (a "Sociedade Gestora").

Seguindo a política de investimento da Administração, a Sociedade Gestora procura aconselhamento de investimento junto da Invesco Asset

Management Limited no Reino Unido, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers nos Estados

Unidos, Invesco Institutional no Canadá e Invesco Asset Management Deutschland GmbH na Alemanha, conforme apropriado.

Pelos serviços prestados, a Sociedade Gestora recebe do Fundo uma percentagem do valor contabilístico de cada sub-fundo, em conformidade

com o quadro apresentado seguidamente:

Fundo Comissão Comissão Comissão Comissão Comissãode Gestão de Gestão de Gestão de Gestão de GestãoClasse A Classe B (inclui uma Classe B1 Classe C Classe E

Comissão de Distribuição)




















As comissões de gestão são calculadas diariamente com base no Valor Patrimonial Líquido para cada subfundo a cada dia útil e pagosmensalmente. As comissões do Consultor de Investimentos são pagas da remuneração do Gestor.

Durante o período em análise, a Sociedade Gestora renunciou parcialmente à comissão de gestão do Invesco USD Reserve Fund e Invesco EuroReserve Fund. Esta renúncia aplica-se de igual modo a todas as classes de acções.

Não há qualquer comissão de gestão para Acções da Classe I.


361 Invesco Funds


4. Other Fees

Ao Gestor é pago uma comissão adicional por cada Fundo (a “Comissão do Agente de Serviços”). A Comissão do Agente de Serviços para as Acções

de Classe A e E não devem exceder 0.40% para Fundos de Acções e Fundos Temáticos, 0.27% para Fundos de Obrigações, 0.20% para Fundos

Estruturais, 0.13% para Fundos de Reserva, 0.35% para Invesco Asia Balanced Fund e 0.40% para Invesco Pan European High Income Fund e Invesco

Global Absolute Return Fund do Valor patrimonial Líquido de cada Fundo. A Comissão de Agente de Serviços para Acções de Classe B, B1 e C não

deve exceder 0.30% para Fundos de Acções e Fundos Temáticos, 0.10% para Fundos de Reserva, 0.20% para Fundos de obrigações (excepto para

Invesco Euro Inflation-Linked Bond Fund que não deve exceder 0.10%), 0.15% para Fundos Estruturais e 0.30% para Fundos Mistos do Valor

Patrimonial Líquido para cada Fundo. Fora da Comissão do Agente de Serviços, o Gestor renuncia às comissões de Agente Administrativo, Agente

Domiciliário e Corporativo e o Agente de Registo e Transmissões bem como às comissões de fornecedores de serviços e comissões incorridas em

locais onde o Fundo está registado. Cada uma destas comissões devem ser calculadas em cada Dia Útil no Valor Patrimonial Líquido do Fundo (a

uma taxa que será acordada quando oportuno com o Gestor) e pago mensalmente. Além disso, o Gestor reembolsa as despesas do Representante

do Fundo em Hong Kong.

Na sua capacidade de Entidade depositária, o Bank of New York Mellon (International) Limited tem direito a uma remuneração (“Comissão de

custódia”) de acordo com a prática bancária normal em Luxemburgo a taxas acordadas quando oportuno com o Fundo, mas que não devem exceder

0.2% (excepto Invesco Asia Infrastructure Fund, Invesco Asia Pacific Real Estate Securities Fund e Invesco Asia Consumer Demand Fund que não

devem exceder 0.3%) ao ano do Valor Patrimonial Líquido do Fundo. A Comissão de Custódia é calculada diariamente e paga mensalmente. Além

disso, a Entidade Depositária pode também cobrar comissões para os custos de transacção em cada subfundo.

Para o período em análise, a Sociedade Gestora acordou pagar, à sua discrição, os Custos Operativos cobrados ao Invesco USD Reserve Fund e

Invesco Euro Reserve Fund.












5. Regime fiscal

O Fundo está registado ao abrigo da legislação do Luxemburgo como organismo de investimento colectivo. Desse modo, de momento, o Fundo

não está obrigado ao pagamento de qualquer imposto sobre o rendimento ou mais-valias do Luxemburgo. Está, porém, sujeito a uma "taxe

d’abonnement" anual calculada a uma taxa anual de 0,05% do Valor Líquido. Os dois Fundos de Reserva e a classe de acções "I" estão sujeitos a

uma taxa anual reduzida de 0,01% do Valor do Activo Líquido, taxa essa que é paga trimestralmente em função do valor do activo líquido dos

Fundos no final do trimestre relevante.

6. Dividendos

De acordo com a política de distribuição do fundo, os rendimentos são distribuídos pelo pagamento de dividendos, apenas pelos titulares de

Classes de Acções A e C (Acções de Distribuição).

A classe de Acções do Invesco Emerging Local Currencies Debt Fund, Classe A, distribuída mensalmente paga uma distribuição com base em

rendimentos estabelecidos anualmente pelo Conselho de Administração. Para o período de 1 de Março de 2010 a 31 de Agosto de 2010, os

rendimentos estavam estabelecidos para 6.5%. A 31 de Agosto de 2010, $819,158 das comissões de gestão e outras comissões e despesas foram

cobradas contra capital em vez de contra rendimentos da Classe de Acções durante o período em análise. Por conseguinte, o Conselho de

Administração ajustou o rendimento para 5.50% a 31 de Outubro de 2010.

O rendimento devido a titulares de Acções de Classe A, Classe C, Classe E e Classe I (Acções de Acumulação) é reinvestido para melhorar o valor

das Acções de Classe A, Classe C, Classe E e Classe I.

Tipo de Acção Taxa de Frequência de Ex Data Data de Distribuição Distribuição Distribuição

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0730 Semestral 31 Agosto 2010* 21 September 2010

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.0499 Semestral 31 Agosto 2010* 21 September 2010

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0283 Semestral 31 Agosto 2010* 21 September 2010

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0373 Trimestral 31 Maio 2010 21 June 2010A Dist 0.0206 Trimestral 31 Agosto 2010* 21 September 2010

Invesco Global Bond Fund USD per ShareA Dist 0.0436 Semestral 31 Agosto 2010* 21 September 2010

Invesco European Bond Fund EUR per ShareA Dist 0.0622 Semestral 31 Agosto 2010* 21 September 2010


362 Invesco Funds


6. Dividendos (continuação)

Tipo de Acção Taxa de Frequência de Ex Data Data de Distribuição Distribuição Distribuição

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0330 Mensal 31 Marco 2010 21 April 2010A Dist 0.0291 Mensal 30 Abril 2010 21 May 2010A Dist 0.0310 Mensal 31 Maio 2010 21 June 2010A Dist 0.0295 Mensal 30 Junho 2010 21 July 2010A Dist 0.0310 Mensal 30 Julho 2010 23 August 2010A Dist 0.0299 Mensal 31 Agosto 2010* 21 September 2010

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0086 Trimestral 31 Maio 2010 21 June 2010A Dist 0.0074 Trimestral 31 Agosto 2010* 21 September 2010

Invesco Emerging Local Currencies Debt FundA Dist USD 0.0628 Mensal 31 Marco 2010 21 April 2010A Dist USD 0.0638 Mensal 30 Abril 2010 21 May 2010A Dist USD 0.0602 Mensal 31 Maio 2010 21 June 2010A Dist USD 0.0603 Mensal 30 Junho 2010 21 July 2010A Dist USD 0.0628 Mensal 30 Julho 2010 23 August 2010A Dist USD 0.0630 Mensal 31 Agosto 2010* 21 September 2010A Dist EUR 0.0207 Mensal # 31 Agosto 2010* 21 September 2010

Invesco Global Investment Grade Corporate Bond Fund USD per ShareA Dist 0.0814 Mensal 31 Maio 2010 21 June 2010A Dist 0.0370 Mensal 30 Junho 2010 21 July 2010A Dist 0.0197 Mensal 30 Julho 2010 23 August 2010A Dist 0.0308 Mensal 31 Agosto 2010* 21 September 2010

Invesco Asia Balanced Fund USD per ShareA Dist 0.1540 Trimestral 31 Maio 2010 21 June 2010A Dist 0.2063 Trimestral 31 Agosto 2010* 21 September 2010

Invesco Pan European High Income Fund EUR per ShareA Dist 0.1522 Trimestral 31 Maio 2010 21 June 2010A Dist 0.1153 Trimestral 31 Agosto 2010* 21 September 2010

*As distribuições com um exceto Agosto date 31 e data de paga 21 de Setembro de 2010 não foram refletidas Afirmações Financeiras.# A primerira distribuição era 31 de Agosto de 2010.

7. Contratos de Compra e Venda de Divisas a Prazo

Os contratos cambiais a prazo celebrados a 31 de agosto de 2010 foram os seguintes:

Invesco Global Structured Equity Fund Ganhos/(Perdas)Detalhas dos contratos de Compra e venda da divisas a Prazo Não Realizados Data de vencimentoCompra de 1,653 USD para vender 1,288 EUR 20 07/09/2010Compra de 3,010 USD para vender 1,933 GBP 26 07/09/2010Compra de 260,000 SEK para vender 34,875 USD 259 15/09/2010Compra de 100,000 GBP para vender 151,672 USD 2,640 15/09/2010Compra de 423,843 USD para vender 270,000 GBP 7,200 15/09/2010Compra de 340,000 AUD para vender 294,049 USD 8,063 15/09/2010Compra de 820,000 CHF para vender 779,586 USD 25,946 15/09/2010Compra de 220,000,000 JPY para vender 2,570,078 USD 38,228 15/09/2010Compra de 4,151,492 USD para vender 4,280,000 CAD 112,893 15/09/2010

Total de ganhos não realizados em contratos cambiais a prazo abertos 195,275

Compra de 6,433,478 USD para vender 587,200,002 JPY (528,324) 15/09/2010Compra de 2,093,121 USD para vender 2,340,000 CHF (205,592) 15/09/2010Compra de 2,662,213 USD para vender 1,800,000 GBP (115,408) 15/09/2010Compra de 2,951,280 USD para vender 2,400,000 EUR (92,298) 15/09/2010Compra de 2,143,847 USD para vender 2,500,000 AUD (77,568) 15/09/2010Compra de 768,305 USD para vender 6,000,000 SEK (42,501) 15/09/2010Compra de 750,000 EUR para vender 985,920 USD (34,802) 15/09/2010Compra de 1,200,000 CAD para vender 1,161,871 USD (29,554) 15/09/2010Compra de 300,000 GBP para vender 473,913 USD (10,976) 15/09/2010Compra de 2,450,000 SEK para vender 340,918 USD (9,839) 15/09/2010Compra de 670,000 AUD para vender 603,275 USD (7,936) 15/09/2010Compra de 95,268 EUR para vender 125,679 USD (4,864) 07/09/2010Compra de 84,081 GBP para vender 133,690 USD (3,935) 07/09/2010Compra de 591 USD para vender 468 EUR (3) 07/09/2010Compra de 1,254 USD para vender 813 GBP (2) 07/09/2010

Total de perdas não realizados em contratos cambiais a prazo abertos (1,163,602)

Total de perdas não realizados em contratos cambiais a prazo abertos USD (968,327)


363 Invesco Funds


7. Contratos de Compra e Venda de Divisas a Prazo (continuação)

Invesco US Structured Equity Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 30,948 USD para vender 24,096 EUR 391 07/09/2010

Total de ganhos não realizados em contratos cambiais a prazo abertos 391

Compra de 549,329 EUR para vender 724,377 USD (27,735) 07/09/2010Compra de 29,514 USD para vender 23,329 EUR (74) 07/09/2010

Total de perdas não realizados em contratos cambiais a prazo abertos (27,809)

Total de perdas não-realizadas em contratos cambiais a prazo abertos USD (27,418)

Invesco US 130/30 Equity Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 5,695 USD para vender 4,432 EUR 73 07/09/2010





Invesco Latin American Equity Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoBuy 1,982 USD para vender 1,560 EUR 5 07/09/2010





Invesco Greater China Equity Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 2,720 USD para vender 2,110 EUR 43 07/09/2010





Invesco Asia Infrastructure Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 24,329 USD para vender 18,813 EUR 469 07/09/2010





Invesco Asia Consumer Demand Fund Ganhos/(Perdas) Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 35,067 EUR para vender 44,300 USD 171 07/09/2010Compra de 20,513 USD para vender 15,953 EUR 281 07/09/2010


Compra de 1,162,506 EUR para vender 1,512,253 USD (38,004) 07/09/2010Compra de 40,064 USD para vender 31,708 EUR (146) 07/09/2010




364 Invesco Funds



Invesco Energy Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 371,151 EUR para vender 468,867 USD 1,813 07/09/2010Compra de 1,798,149 USD para vender 1,375,050 EUR 54,361 07/09/2010


Compra de 9,286,651 EUR para vender 12,074,973 USD (297,976) 07/09/2010Compra de 365,180 USD para vender 288,713 EUR (953) 07/09/2010



Invesco Emerging Markets Quantitative Equity Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 3,149 USD para vender 2,019 GBP 32 07/09/2010Compra de 6,287 USD para vender 4,901 EUR 74 07/09/2010


Compra de 111,759 EUR para vender 147,355 USD (5,626) 07/09/2010Compra de 46,676 GBP para vender 74,201 USD (2,169) 07/09/2010Compra de 1,649 USD para vender 1,301 EUR (2) 07/09/2010



Invesco Gold & Precious Metals Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 34,929 USD para vender 27,239 EUR 386 07/09/2010





Invesco Global Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 1,566,000 USD para vender 1,000,000 GBP 23,292 25/10/2010Compra de 3,862,220 USD para vender 3,000,000 EUR 57,761 20/09/2010

Total de ganhos não realizados em contratos cambiais a prazo abertos USD 81,053

Invesco European Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 650,000 GBP para vender 786,378 EUR 4,379 29/10/2010Compra de 3,283,628 EUR para vender 2,690,000 GBP 11,109 29/10/2010


Compra de 410,132 EUR para vender 340,000 GBP (3,495) 29/10/2010Compra de 540,000 GBP para vender 660,244 EUR (3,307) 29/10/2010


Total de ganhos não realizados em contratos cambiais a prazo abertos EUR 8,686

Invesco Absolute Return Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 320,000 TRY para vender 208,727 USD 172 08/09/2010Compra de 70,000 GBP para vender 84,925 EUR 257 08/09/2010Compra de 324,465 EUR para vender 1,300,000 PLN 287 08/09/2010Compra de 4,130,000 CNY para vender 606,283 USD 522 10/12/2010Compra de 386,972 USD para vender 12,000,000 RUB 827 10/12/2010Compra de 88,921 GBP para vender 107,302 EUR 906 07/09/2010Compra de 40,700,000 PHP para vender 893,916 USD 1,307 17/09/2010Compra de 930,000 PEN para vender 331,669 USD 1,654 10/12/2010Compra de 451,905 EUR para vender 370,000 GBP 1,658 08/09/2010Compra de 212,198 USD para vender 1,550,000 ZAR 2,036 08/09/2010Compra de 821,073 EUR para vender 1,100,000 CAD 2,507 08/09/2010Compra de 432,051 USD para vender 20,220,000 INR 2,730 17/09/2010Compra de 223,350,000 HUF para vender 773,283 EUR 3,114 08/09/2010Compra de 1,327,629 USD para vender 9,000,000 CNY 3,935 10/12/2010Compra de 468,089 USD para vender 555,410,000 KRW 3,965 08/09/2010Compra de 810,000 USD para vender 632,996 EUR 5,724 08/09/2010Compra de 1,470,000 PEN para vender 517,606 USD 6,794 17/09/2010Compra de 3,310,000 ILS para vender 856,249 USD 7,686 07/09/2010Compra de 19,250,000 PHP para vender 414,246 USD 7,696 08/09/2010


365 Invesco Funds



Invesco Absolute Return Bond Fund (continuação) Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 224,454 USD para vender 257,000,000 KRW 8,117 17/09/2010Compra de 714,177 EUR para vender 5,650,000 NOK 8,626 08/09/2010Compra de 2,900,000 ARS para vender 719,782 USD 8,771 17/09/2010Compra de 5,650,000 NOK para vender 696,661 EUR 8,890 08/09/2010Compra de 9,810,000 SEK para vender 1,035,203 EUR 10,256 08/09/2010Compra de 2,550,000 ZAR para vender 331,143 USD 10,810 08/09/2010Compra de 650,000 CHF para vender 492,297 EUR 11,184 08/09/2010Compra de 1,360,000 MYR para vender 418,311 USD 11,467 17/09/2010Compra de 857,135 USD para vender 3,220,000 ILS 11,592 08/09/2010Compra de 1,830,986 USD para vender 12,350,000 CNY 13,630 27/09/2010Compra de 626,415 EUR para vender 770,000 USD 19,238 08/09/2010Compra de 1,124,433 EUR para vender 317,450,000 HUF 20,931 08/09/2010Compra de 2,720,000 PLN para vender 657,188 EUR 21,092 08/09/2010Compra de 705,629 EUR para vender 3,310,000 ILS 22,756 07/09/2010Compra de 37,800,000 JPY para vender 418,073 USD 23,693 08/09/2010


Compra de 4,224,053 EUR para vender 5,560,799 USD (160,871) 08/09/2010Compra de 2,442,312 EUR para vender 274,750,000 JPY (126,098) 08/09/2010Compra de 845,791 USD para vender 40,690,000 PHP (39,083) 17/09/2010Compra de 977,979 EUR para vender 25,050,000 CZK (31,517) 08/09/2010Compra de 1,022,162 EUR para vender 9,810,000 SEK (23,297) 08/09/2010Compra de 12,350,000 CNY para vender 1,841,223 USD (21,702) 27/09/2010Compra de 4,630,000 MXN para vender 295,998 EUR (18,594) 08/09/2010Compra de 1,488,037 USD para vender 2,050,000 SGD (18,517) 08/09/2010Compra de 662,872 EUR para vender 2,730,000 PLN (17,901) 08/09/2010Compra de 1,650,771 EUR para vender 1,370,000 GBP (16,357) 08/09/2010Compra de 13,340,000 CNY para vender 1,978,158 USD (13,969) 10/12/2010Compra de 499,207 EUR para vender 660,000 CHF (12,021) 08/09/2010Compra de 94,100,000 HUF para vender 339,062 EUR (11,957) 08/09/2010Compra de 420,968 USD para vender 36,700,000 JPY (11,127) 08/09/2010Compra de 12,000,000 RUB para vender 400,000 USD (11,102) 10/12/2010Compra de 709,677 USD para vender 363,000,000 CLP (9,659) 10/12/2010Compra de 257,000,001 KRW para vender 224,454 USD (8,117) 17/09/2010Compra de 303,178 USD para vender 1,240,000 ARS (7,370) 17/09/2010Compra de 434,751 EUR para vender 4,140,000 ZAR (6,736) 08/09/2010Compra de 270,000 USD para vender 219,129 EUR (6,223) 08/09/2010Compra de 2,050,000 SGD para vender 1,197,080 EUR (5,185) 08/09/2010Compra de 3,220,000 ILS para vender 848,740 USD (4,972) 08/09/2010Compra de 58,000,000 KZT para vender 396,717 USD (2,758) 17/09/2010Compra de 555,400,001 KRW para vender 466,091 USD (2,396) 08/09/2010Compra de 415,252 USD para vender 470,000 AUD (2,173) 08/09/2010Compra de 431,198 USD para vender 1,360,000 MYR (1,305) 17/09/2010Compra de 20,220,000 INR para vender 429,208 USD (488) 17/09/2010Compra de 208,877 USD para vender 320,000 TRY (54) 08/09/2010

Total de perdas não-realizadas em contratos cambiais a prazo abertos (591,549)

Total de perdas não-realizadas em contratos cambiais a prazo abertos EUR (326,719)

Invesco Euro Inflation-Linked Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 2,710,547 EUR para vender 2,260,000 GBP (39,048) 12/10/2010


Invesco UK Investment Grade Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 1,400,000 EUR para vender 1,137,724 GBP 12,693 01/09/2010Compra de 5,806,757 GBP para vender 6,920,000 EUR 120,409 01/09/2010Compra de 3,040,390 GBP para vender 4,430,000 USD 169,917 01/09/2010

Total de ganhos não-realizadas em contratos cambiais a prazo abertos 303,019

Compra de 32,236 EUR para vender 40,722 USD 158 07/09/2010Compra de 1,113,406 USD para vender 863,577 EUR 18,249 07/09/2010Compra de 3,056,400 TRY para vender 1,946,628 USD 37,386 12/10/2010Compra de 9,767,450 SGD para vender 7,052,310 USD 149,432 12/10/2010Compra de 464,999,999 PHP para vender 10,000,000 USD 220,603 27/09/2010Compra de 226,555,000 THB para vender 6,990,281 USD 246,472 06/10/2010

Total de ganhos não-realizadas em contratos cambiais a prazo abertos (170,429)

Total de perdas não-realizadas em contratos cambiais a prazo abertos GBP 132,590


366 Invesco Funds


7. Contratos de Compra e Venda de Divisas a Prazo (continuaçäo)

Invesco Emerging Local Currencies Debt Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 32,236 EUR para vender 40,722 USD 158 07/09/2010Compra de 1,113,406 USD para vender 863,577 EUR 18,249 07/09/2010Compra de 3,056,400 TRY para vender 1,946,628 USD 37,386 12/10/2010Compra de 9,767,450 SGD para vender 7,052,310 USD 149,432 12/10/2010Compra de 464,999,999 PHP para vender 10,000,000 USD 220,603 27/09/2010Compra de 226,555,000 THB para vender 6,990,281 USD 246,472 06/10/2010


Compra de 34,047,913 EUR para vender 44,675,847 USD (1,497,502) 07/09/2010Compra de 11,030,760 USD para vender 9,000,000 EUR (382,720) 07/09/2010Compra de 87,763,000 CNY para vender 13,000,000 USD (106,354) 12/11/2010Compra de 89,820,000 RUB para vender 3,000,000 USD (102,851) 08/11/2010Compra de 33,725,000 CNY para vender 5,000,000 USD (45,091) 19/11/2010Compra de 22,262,499,999 IDR para vender 2,500,000 USD (37,399) 03/09/2010Compra de 2,400,000 USD para vender 7,568,400 MYR (7,113) 27/09/2010

Total de perdas não realizados em contratos cambiais a prazo abertos (2,179,030)

Total de perdas não realizados em contratos cambiais a prazo abertos USD (1,506,730)

Invesco Global Investment Grade Corporate Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 132,231 USD para vender 84,861 GBP 1,264 01/09/2010Compra de 1,154,570 USD para vender 745,000 GBP 5,527 01/12/2010Compra de 170,000 GBP para vender 254,124 USD 8,237 01/09/2010Compra de 4,625,638 USD para vender 3,640,000 EUR 10,196 01/12/2010Compra de 585,000 EUR para vender 718,458 USD 23,422 01/09/2010Compra de 1,755,679 USD para vender 1,340,000 EUR 56,331 01/09/2010


Compra de 4,186,915 EUR para vender 5,523,484 USD (213,788) 07/09/2010Compra de 3,727,116 USD para vender 3,035,000 EUR (121,783) 01/09/2010Compra de 1,201,799 USD para vender 830,000 GBP (79,141) 01/09/2010Compra de 150,000 EUR para vender 194,808 USD (4,582) 01/09/2010Compra de 89,554 GBP para vender 142,420 USD (4,218) 07/09/2010



Invesco Global Unconstrained Bond Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Maturity DateCompra de 1,339,464 GBP para vender 1,600,001 EUR 24,518 20/09/2010


Compra de 43,600 GBP para vender 70,000 CHF (966) 20/09/2010Compra de 81,321 EUR para vender 67,528 GBP (702) 07/09/2010


Total de ganhos não realizados em contratos cambiais a prazo abertos GBP 22,850

Invesco Capital Shield 90 (EUR) Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 100,000 GBP para vender 121,631 EUR 51 15/09/2010Compra de 834,387 EUR para vender 685,000 GBP 864 15/09/2010Compra de 55,899,999 JPY para vender 512,379 EUR 10,226 15/09/2010


Compra de 26,269,838 EUR para vender 33,850,000 USD (422,432) 15/09/2010Compra de 1,267,656 EUR para vender 138,700,001 JPY (29,043) 15/09/2010Compra de 33,500,000 JPY para vender 313,994 EUR (804) 15/09/2010Compra de 121,242 EUR para vender 100,000 GBP (441) 15/09/2010Compra de 95,000 GBP para vender 115,858 EUR (260) 15/09/2010


Total de perdas não realizados em contratos cambiais a prazo abertos EUR (441,839)


367 Invesco Funds


7. Contratos de Compra e Venda de Divisas a Prazo (continuaçäo)

Invesco Asia Balanced Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 526,707 USD para vender 412,508 EUR 3,579 07/09/2010


Compra de 3,556,131 EUR para vender 4,674,162 USD (164,404) 07/09/2010



Invesco Pan European High Income Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 2,265,144 EUR para vender 1,850,000 GBP 14,527 29/10/2010


Compra de 1,789,848 EUR para vender 1,500,000 GBP (35,322) 20/09/2010Compra de 709,161 EUR para vender 600,000 GBP (20,871) 27/09/2010Compra de 656,403 EUR para vender 550,000 GBP (12,859) 13/09/2010Compra de 140,741 EUR para vender 190,000 CHF (6,525) 16/11/2010Compra de 2,608,938 EUR para vender 2,150,000 GBP (6,438) 16/11/2010Compra de 1,573,787 EUR para vender 2,000,000 USD (3,414) 29/10/2010Compra de 120,642 EUR para vender 100,000 GBP (1,022) 12/10/2010Compra de 303,693 EUR para vender 250,000 GBP (450) 25/10/2010



Invesco Global Absolute Return Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 528 EUR para vender 669 USD 1 07/09/2010Compra de 74,532 EUR para vender 100,000 CAD 108 01/09/2010Compra de 68,262 USD para vender 51,815 EUR 2,013 07/09/2010Compra de 5,000,000 JPY para vender 43,881 EUR 2,855 01/09/2010Compra de 1,200,000 USD para vender 935,490 EUR 10,755 01/09/2010Compra de 900,000 GBP para vender 1,080,049 EUR 15,206 01/09/2010


Compra de 1,986,806 EUR para vender 2,600,000 USD (63,392) 01/09/2010Compra de 736,761 EUR para vender 1,000,000 CHF (37,775) 01/09/2010Compra de 279,831 EUR para vender 31,000,000 JPY (9,935) 01/09/2010Compra de 1,300,000 CAD para vender 973,492 EUR (5,976) 01/09/2010Compra de 614,170 EUR para vender 800,000 CHF (5,620) 01/10/2010Compra de 700,000 GBP para vender 855,327 EUR (3,644) 01/10/2010Compra de 334,271 EUR para vender 36,000,000 JPY (2,355) 01/10/2010Compra de 156,981 EUR para vender 200,000 USD (730) 01/10/2010Compra de 73,919 EUR para vender 100,000 CAD (506) 01/09/2010Compra de 121,551 EUR para vender 100,000 GBP (144) 01/09/2010Compra de 594 EUR para vender 764 USD (8) 07/09/2010Compra de 600,000 CAD para vender 446,332 EUR (1) 01/10/2010



Invesco Balanced-Risk Allocation Fund Ganhos/(Perdas)Detalhas dos Contratos de Compra e Venda da Divisas a Prazo Não Realizados Data de vencimentoCompra de 122,772 GBP para vender 148,129 EUR 1,272 07/09/2010Compra de 136,947 USD para vender 103,941 EUR 4,048 07/09/2010Compra de 8,703,663 EUR para vender 10,702,000 USD 264,717 03/09/2010


Compra de 3,347,000 USD para vender 2,672,478 EUR (33,238) 03/09/2010Compra de 860,684 EUR para vender 1,100,000 USD (6,710) 03/09/2010Compra de 1,425 GBP para vender 1,740 EUR (6) 07/09/2010


Total de ganhos não-realizadas em contratos cambiais a prazo abertos EUR 230,083


368 Invesco Funds


8. FuturosDescrição Número de contratos Compromisso Largo/Corto Ganhos/(perdas)

não realizados namoeda base do sub-fund

Invesco Global Structured Equity FundS&P 500 EMINI 17/09/2010 7 391,037 Largo (26,381)Nikkei 225 Future 09/09/2010 4 224,863 Largo (26,335)DJ Euro Stoxx 50 Future 17/09/2010 6 212,244 Largo (14,190)FTSE 100 Index Future 17/09/2010 1 84,245 Largo (2,854)

Total de perdas não realizadas USD (69,760)

Invesco US Structured Equity FundS&P 500 EMINI 17/09/2010 29 1,566,338 Largo (55,619)


Invesco US 130/30 Equity FundS&P 500 EMINI 17/09/2010 1 55,125 Largo (3,031)


Invesco Pan European Structured Equity FundDJ Euro Stoxx 50 Future 17/09/2010 299 7,991,510 Largo (251,895)FTSE 100 Index Future 17/09/2010 69 4,303,963 Largo (26,928)

Total de perdas não realizadas EUR (278,823)

Invesco Pan European 130/30 Equity FundDJ Euro Stoxx 50 Future 17/09/2010 3 81,720 Largo (4,065)FTSE 100 Index Future 17/09/2010 1 62,726 Largo (1,034)


Invesco Global Bond FundEuro Bund Future 08/09/2010 (20) (3,143,281) Corto (168,760)US Long Bond (CBT) Future 21/09/2010 (10) (1,334,063) Corto (27,344)Long Gilt Future 29/12/2010 (10) (1,939,476) Corto (4,899)


Invesco European Bond FundEuro Bobl Future 08/09/2010 6 730,020 Largo 5,490

Total de ganhos não realizadas 5,490

Euro Buxl 30 Year Bond 08/09/2010 (6) (703,780) Corto (44,000)Euro Bund Future 08/09/2010 (16) (2,117,250) Corto (33,710)Long Gilt Future 29/12/2010 (34) (5,193,777) Corto (13,176)

Total de perdas não realizadas (90,886)


Invesco Absolute Return Bond FundUS 5 Year Note Future 31/12/2010 (87) (8,273,964) Corto 2,860Euro Bund Future 08/09/2010 3 389,271 Largo 14,034


US 10 Year Note Future 21/12/2010 (11) (1,092,052) Corto (566)Long Gilt Future 29/12/2010 (6) (912,789) Corto (3,345)Japan 10 Year Bond 09/09/2010 (2) (2,584,513) Corto (29,059)Euro Bobl Future 08/09/2010 (60) (7,236,900) Corto (118,200)



Invesco Euro Corporate Bond FundEuro Bund Future 08/09/2010 (2,100) (268,455,000) Corto (13,858,000)

Total de perdas não realizadas EUR (13,858,000)

Invesco Euro Inflation-Linked Bond FundEuro Bund Future 08/09/2010 (110) (14,396,620) Corto (391,230)



369 Invesco Funds


8. Futuros (continuaçäo)Descrição Número de contratos Compromisso Largo/Corto Ganhos/(perdas)


Invesco UK Investment Grade Bond FundUS 5 Year Note Future 31/12/2010 (12) (929,317) Corto 974

Total de ganhos não realizadas 974

Euro Bobl Future 08/09/2010 (32) (3,216,295) Corto (28,201)US 10 Year Note Future 21/12/2010 (29) (2,343,750) Corto (1,753)Long Gilt Future 29/12/2010 (6) (750,060) Corto (1,440)


Total de perdas não realizadas GBP (30,420)

Invesco Global Investment Grade Corporate Bond FundUS Ultra Bond (CBT) Future 21/12/2010 (2) (289,156) Corto 719Canada 10 Year Bond Future 20/12/2010 2 237,398 Largo 817Euro Schatz Future 08/09/2010 3 403,862 Largo 1,23510 Year Mini JGB Future 08/09/2010 2 308,414 Largo 5,034Euro Bobl Future 08/09/2010 2 296,765 Largo 5,039US Long Bond (CBT) Future 21/12/2010 6 802,875 Largo 5,719US 5 Year Note Future 31/12/2010 60 7,193,250 Largo 12,609


US 10 Year Note Future 21/09/2010 (53) (6,473,914) Corto (219,406)US 2 Year Note (CBT) Future 31/12/2010 (13) (2,846,391) Corto (914)



Invesco Capital Shield 90 (EUR) Fund US 10 Year Note Future 21/12/2010 404 39,873,681 Largo 53,95510 Year Mini JGB Future 08/09/2010 214 27,158,681 Largo 267,653Euro Bund Future 08/09/2010 298 38,814,270 Largo 1,247,360

Total de ganhos não realizadas 1,568,968

S&P 500 Future 16/09/2010 111 24,186,581 Largo (1,242,045)Nikkei 225 Future 09/09/2010 249 10,680,824 Largo (923,938)DJ Euro Stoxx 50 Future 17/09/2010 347 9,459,120 Largo (477,025)FTSE 100 Index Future 17/09/2010 143 8,990,297 Largo (163,962)

Total de perdas não realizadas (2,806,970)

Total de perdas não realizadas EUR (1,238,002)

Invesco Global Absolute Return FundUS 10 Year Note Future 21/12/2010 16 1,579,043 Largo 2,25010 Year Mini JGB Future 08/09/2010 5 634,004 Largo 8,590Euro Bund Future 08/09/2010 10 1,319,690 Largo 24,660


S&P 500 EMINI 17/09/2010 13 563,239 Largo (20,516)DJ Euro Stoxx 50 Future 17/09/2010 19 504,650 Largo (12,835)Nikkei 225 Future 09/09/2010 5 211,722 Largo (9,189)FTSE 100 Index Future 17/09/2010 4 250,095 Largo (488)




370 Invesco Funds


8. Futuros (continuaçäo)Descrição Número de contratos Compromisso Largo/Corto Ganhos/(perdas)


Invesco Balanced-Risk Allocation FundUS Long Bond (CBT) Future 21/12/2010 28 2,965,794 Largo 3,256Aust 10 Year Bond Future 15/09/2010 55 3,530,984 Largo 13,343Long Gilt Future 29/12/2010 28 4,257,975 Largo 17,308Canada 10 Year Bond Future 20/12/2010 54 5,051,829 Largo 39,53310 Year Mini JGB Future 08/09/2010 67 8,635,365 Largo 132,934Euro Bund Future 08/09/2010 42 5,427,430 Largo 218,840


Russell 2000 Mini Future 17/09/2010 27 1,376,550 Largo (81,086)S&P 500 EMINI 17/09/2010 39 1,700,904 Largo (76,142)DJ Euro Stoxx 50 Future 17/09/2010 58 1,576,490 Largo (75,160)Topix Index Future 09/09/2010 9 705,392 Largo (47,829)Hang Seng Index Future 29/09/2010 14 1,453,370 Largo (12,773)FTSE 100 Index Future 17/09/2010 25 1,561,823 Largo (9,829)


Total de ganhos não realizadas com swaps de Incumprimento de Crédito EUR 122,395

9. Swaps de Incumprimento de Crédito

Compra/Venda Data Valor Ganho/(perda)de risco Denominação de validade nominal CCy de não realizadoInvesco Absolute Return Bond FundCompra Kingdom of Spain 1.00% 20/09/2015 1,000,000 USD 51,684

Total de ganhos não realizadas com swaps de Incumprimento de Crédito 51,684

Invesco Global Unconstrained Bond FundCompra Markit Itraxx Europe Xover 5.00% 20/06/2015 200,000 EUR 2,196


Venda French Republic 0.25% 20/09/2015 1,000,000 USD (17,443)

Venda Markit Itraxx Europe 1.00% 20/06/2015 500,000 EUR (14,373)

Venda Markit Itraxx Europe Hi Vol 1.00% 20/06/2015 500,000 EUR (3,747)


Total de perdas não realizadas com swaps de Incumprimento de Crédito GBP (33,367)

Invesco Pan European High Income FundVenda Alliance & Leicester 3.70% 20/06/2013 100,000 EUR 7,411

Venda British Energy 4.55% 20/03/2013 300,000 EUR 30,869Compra Markit Itraxx Europe Xover 5.00% 20/06/2015 4,800,000 EUR 64,145

Total de ganhos não realizadas com swaps de Incumprimento de Crédito EUR 102,425


Não havia nenhumas trocas de taxa de juros agrarraram-se qualquer fundo como no fim de periodo, 31 2010 de Agosto.

11. Equity Swaps

Invesco US 130/30 Equity FundParticipação Quantidade Moeda Garantia em Garantia sob Ganhos/(perdas) não subjacente de acções Moeda Local a forma de % do realizados na moeda

subjacentes VAL do Fundo base do sub-fundAK Steel Holding Corp (3,900) USD (51,519) (1.34%) 2,340Alere Inc (900) USD (25,866) (0.67%) 500Allegheny Technologies Inc (800) USD (35,480) (0.92%) 2,880Amazon.com Inc (200) USD (25,214) (0.65%) 471Bunge Ltd (100) USD (5,400) (0.14%) 198Cabot Oil & Gas Corp (800) USD (24,144) (0.63%) 1,588Covance Inc (400) USD (16,224) (0.42%) 776Cree Inc (200) USD (11,320) (0.29%) 120Dean Foods Co (1,800) USD (18,126) (0.47%) 477Denbury Resources Inc (3,500) USD (54,075) (1.40%) 1,785Dolby Laboratories Inc (100) USD (5,610) (0.15%) 83Electronic Arts Inc (300) USD (4,815) (0.13%) 233FLIR Systems Inc (800) USD (21,616) (0.56%) 1,644Hertz Global Holdings Inc (2,600) USD (24,128) (0.63%) 1,846Illumina Inc (600) USD (27,258) (0.71%) 1,230Manulife Financial Corp (700) USD (8,540) (0.22%) 672


371 Invesco Funds


11. Equity Swaps (continuaçäo)

Invesco US 130/30 Equity Fund (continuaçäo)Participação Quantidade Moeda Garantia em Garantia sob Ganhos/(perdas) não subjacente de acções Moeda Local a forma de % do realizados na moeda

subjacentes VAL do Fundo base do sub-fundMartin Marietta Materials Inc (200) USD (15,322) (0.40%) 710Mastercard Inc (50) USD (10,522) (0.27%) 393McDermott International Inc (900) USD (11,889) (0.31%) 81MGIC Investment Corp (400) USD (2,952) (0.08%) 60MGM Resorts International (700) USD (6,965) (0.18%) 627Monsanto Co (800) USD (46,160) (1.20%) 1,424Monster Worldwide Inc (2,400) USD (27,792) (0.72%) 1,224Office Depot Inc (4,000) USD (16,000) (0.42%) 2,139O'Reilly Automotive Inc (400) USD (18,852) (0.49%) 82Perrigo Co (200) USD (11,750) (0.31%) 228Petrohawk Energy Corp (1,800) USD (28,746) (0.75%) 1,422priceline.com Inc (50) USD (14,726) (0.38%) 247Pride International Inc (900) USD (21,573) (0.56%) 459Quanta Services Inc (1,900) USD (35,682) (0.93%) 1,596Spirit Aerosystems Holdings Inc (800) USD (15,968) (0.41%) 276SunPower Corp (2,100) USD (24,465) (0.64%) 2,341Terex Corp (500) USD (9,745) (0.25%) 663Tesoro Corp (2,400) USD (28,608) (0.74%) 1,248United States Steel Corp (400) USD (18,160) (0.47%) 1,402Urban Outfitters Inc (100) USD (3,136) (0.08%) 67Vertex Pharmaceuticals Inc (800) USD (29,040) (0.75%) 2,120Vulcan Materials Co (400) USD (15,300) (0.40%) 326Weatherford International Ltd (1,900) USD (29,146) (0.76%) 352

Total de Ganho não realizadas com Equity Swaps 36,330



Google Inc 40 USD 19,424 0.50% (1,322)






MBIA Inc (3,400) USD (31,246) (0.81%) (714)



Mosaic Co (700) USD (35,791) (0.93%) (4,277)

NVIDIA Corp (1,000) USD (9,150) (0.24%) (505)


Pfizer Inc 4,700 USD 75,341 1.96% (846)




ProLogis (300) USD (3,060) (0.08%) (167)



Total de perdas não realizadas com Equity Swaps (44,706)

Total de perdas não realizadas com Equity Swaps USD (8,376)


372 Invesco Funds



Invesco Pan European 130/30 Equity FundParticipação Quantidade Moeda Garantia em Garantia sob Ganhos/(perdas) não subjacente de acções Moeda Local a forma de % do realizados na moeda

subjacentes VAL do Fundo base do sub-fundAir France-KLM (1,784) EUR (19,851) (0.42%) 1,449Alcatel-Lucent (38,139) EUR (87,453) (1.83%) 10,870AstraZeneca Plc 3,381 GBP 106,123 2.68% 2,683Autogrill SpA (5,707) EUR (58,440) (1.22%) 7,205Autonomy Corp Plc (4,261) GBP (82,126) (2.07%) 18,757Beiersdorf AG (118) EUR (5,410) (0.11%) 465BP Plc 19,055 GBP 65,168 1.64% 7,462EDP Renovaveis SA (18,745) EUR (86,133) (1.80%) 4,040Eiffage SA (1,471) EUR (53,853) (1.13%) 1,261Gamesa Corp Tecnologica SA (14,556) EUR (108,899) (2.28%) 33,833IG Group Holdings Plc 974 GBP 4,111 0.11% 1,122Lindt & Spruengli AG (25) CHF (62,800) (0.94%) 2,874Lloyds Banking Group Plc 6,965 GBP 3,862 0.10% 995Lonmin Plc (855) GBP (13,996) (0.35%) 1,545Mondi Plc 1,686 GBP 6,564 0.17% 1,391Old Mutual Plc 24,354 GBP 27,496 0.69% 3,722Petroplus Holdings AG (1,937) CHF (34,440) (0.52%) 9,470QIAGEN NV (2,037) EUR (31,970) (0.67%) 3,355Randgold Resources Ltd (1,010) GBP (61,762) (1.56%) 2,753Rio Tinto Plc 677 GBP 20,540 0.53% 1,322Standard Chartered Plc 1,504 GBP 25,200 0.64% 783Swiss Reinsurance Co Ltd (153) CHF (7,474) (0.11%) 818Tryg AS (221) DKK (75,140) (0.21%) 768Vestas Wind Systems A/S (2,625) DKK (731,927) (2.06%) 20,178

Total de ganho não realizadas com Equity Swaps 139,121



Total de perdas não realizadas com Equity Swaps EUR (65,683)

Invesco Global Absolute Return FundParticipação Quantidade Moeda Garantia em Garantia sob Ganhos/(perdas) não subjacente de acções Moeda Local a forma de % do realizados na moeda

subjacentes VAL do Fundo base do sub-fundAbertis Infraestructuras SA (2,446) EUR (33,896) (0.74%) 2,771


Alfa Laval AB 1,633 SEK 170,485 0.39% 234



Ansell Ltd 1,815 AUD 23,323 0.35% 789


Atco Ltd 1,100 CAD 53,482 0.88% 1,294




373 Invesco Funds




subjacentes VAL do Fundo base do sub-fundAutoNation Inc 300 USD 6,000 0.10% 596



BCE Inc 1,100 CAD 34,936 0.58% 1,237






Carnival Plc (407) GBP (9,015) (0.23%) 661


Chiyoda Corp (3,000) JPY (1,914,000) (0.37%) 1,533





Coloplast A/S 210 DKK 130,200 0.38% 92



Cree Inc (200) USD (13,654) (0.23%) 1,915














Freenet AG (2,406) EUR (19,852) (0.43%) 1,033

Guess? Inc (400) USD (13,672) (0.23%) 391





Hubbell Inc 600 USD 25,254 0.43% 1,150

Illumina Inc (500) USD (22,410) (0.38%) 606


Inmarsat Plc (3,701) GBP (27,295) (0.71%) 3,247





Itron Inc (100) USD (6,300) (0.11%) 684



Keyence Corp (70) JPY (1,514,100) (0.29%) 2,674

Kroger Co (800) USD (16,632) (0.28%) 569

Kubota Corp (4,000) JPY (2,772,000) (0.53%) 804


LKQ Corp (1,000) USD (20,640) (0.35%) 1,725


Markel Corp (100) USD (34,850) (0.59%) 2,052



Mediaset SpA 7,191 EUR 34,283 0.74% 656



Merck & Co Inc (1,200) USD (43,826) (0.74%) 1,691

MetLife Inc (500) USD (19,545) (0.33%) 809




Mondi Plc 3,152 GBP 12,846 0.33% 1,925


374 Invesco Funds




subjacentes VAL do Fundo base do sub-fundNippon Sheet Glass Co Ltd (8,000) JPY (1,856,000) (0.36%) 3,527


Novartis AG 821 CHF 43,571 0.70% 194

NuVasive Inc (300) USD (10,968) (0.19%) 1,642




Outotec OYJ (439) EUR (11,651) (0.25%) 314




Pirelli & C SpA (1,907) EUR (10,059) (0.22%) 171



QIAGEN NV (1,092) EUR (17,461) (0.38%) 2,121





ResMed Inc (253) USD (16,911) (0.29%) 1,276

Ricoh Co Ltd (2,000) JPY (2,408,000) (0.46%) 2,395

Rio Tinto Ltd 485 AUD 32,306 0.48% 1,173


Rovi Corp (200) USD (8,546) (0.15%) 104













Terex Corp (1,000) USD (18,500) (0.31%) 293






Toshiba Corp (5,000) JPY (2,300,000) (0.44%) 3,009






Valeo SA 764 EUR 18,554 0.40% 2,473



Volvo AB (3,774) SEK (326,828) (0.76%) 2,923


Wendel (588) EUR (26,604) (0.58%) 3,162






Total de ganho não realizadas com Equity Swaps 209,844



AGCO Corp (400) USD (11,944) (0.20%) (838)


Alere Inc (896) USD (24,891) (0.42%) (251)


Amgen Inc 776 USD 41,066 0.70% (829)


375 Invesco Funds




subjacentes VAL do Fundo base do sub-fundApollo Group Inc 300 USD 13,434 0.23% (335)











Big Lots Inc 380 USD 13,194 0.22% (1,070)





Cephalon Inc 500 USD 30,560 0.52% (1,694)

CGI Group Inc 1,500 CAD 24,525 0.40% (1,690)







Con-way Inc 300 USD 9,840 0.17% (1,338)



Deere & Co (400) USD (24,432) (0.42%) (550)



DR Horton Inc 1,600 USD 16,992 0.29% (419)

Eli Lilly & Co 945 USD 33,236 0.56% (936)

Equinix Inc (435) USD (37,423) (0.64%) (1,524)





Fujikura Ltd 2,000 JPY 770,000 0.15% (399)


Gap Inc 2,803 USD 52,668 0.89% (4,166)

Genzyme Corp (200) USD (13,236) (0.22%) (587)

Givaudan SA (41) CHF (38,684) (0.63%) (503)


Hays Plc 8,597 GBP 8,253 0.21% (590)



Hershey Co 1,400 USD 72,101 1.22% (6,189)



Hoya Corp 2,000 JPY 4,086,000 0.79% (3,554)

Ibiden Co Ltd 700 JPY 1,790,600 0.35% (3,422)

ICADE (127) EUR (8,965) (0.19%) (272)










K & S AG (192) EUR (7,277) (0.16%) (558)






Lawson Inc 200 JPY 804,000 0.16% (356)


376 Invesco Funds




subjacentes VAL do Fundo base do sub-fundLifePoint Hospitals Inc 800 USD 25,648 0.44% (820)





Masco Corp 1,698 USD 19,069 0.32% (1,094)










Mobistar SA 197 EUR 8,803 0.19% (114)

Moody's Corp 684 USD 15,369 0.26% (687)

Mosaic Co (400) USD (17,300) (0.29%) (4,317)



Next Plc 2,517 GBP 52,340 1.36% (3,426)









Omnicare Inc 700 USD 17,710 0.30% (3,092)

Orkla ASA (2,911) NOK (141,096) (0.39%) (1,021)

Oshkosh Corp 1,400 USD 45,290 0.77% (7,852)












Rhodia SA 1,221 EUR 18,724 0.41% (757)




Sara Lee Corp 907 USD 13,052 0.22% (34)



Sharp Corp 2,000 JPY 1,874,937 0.36% (2,448)

Shire Plc 665 GBP 9,789 0.25% (652)




SKF AB 1,529 SEK 209,448 0.48% (895)











Tieto OYJ 607 EUR 8,516 0.19% (604)

TNT NV 737 EUR 15,879 0.34% (1,323)


377 Invesco Funds




subjacentes VAL do Fundo base do sub-fundTokio Marine Holdings Inc 600 JPY 1,447,200 0.28% (909)

Toro Co 400 USD 20,128 0.34% (200)





TUI AG 2,338 EUR 18,849 0.41% (539)


USS Co Ltd 180 JPY 1,148,400 0.22% (296)






Zeon Corp (3,000) JPY (1,677,000) (0.32%) (67)


Total de perdas não realizadas com Equity Swaps EUR (78,570)

12. Política de Swing PricingAs obrigações são valorizadas conforme descrito na nota 2(b). No entanto, para compensar os efeitos da diluição, o Fundo implementou uma

política de "Swing Pricing" a partir de 18 de Dezembro de 2007.

Nos melhores interesses os Accionistas, os Directores podem autorizar ajustamentos do valor do activo líquido, através de cotações "bid" ou "ask"

em vez de cotações intermédias ("mid"), dependendo da actividade bolsista líquida originada por subscrições, resgates ou arbitragem num

subfundo para um dado dia útil.

Os subfundos só efectuam operações de swing parcial. Isto significa que os Subfundos não alternam entre cotações "bid" e "ask" diariamente, mas

apenas quando um nível predeterminado de actividade dos accionistas é excedido. Um elevado nível de resgate desencadeia um swing para uma

cotação "bid", enquanto um elevado nível de subscrição desencadeia um swing para cotação "ask". Os Directores têm poderes para colocar um

subfundo em constante swing, dependendo das tendências recentes num subfundo.

A reconciliação a 31 de agosto de 2010 do preço MID para BID/ASK é a seguinte:






ASK Pricing





13. Demonstração de variação dos investimentosUma lista, especificando o total de compras e vendas de cada investimento ocorridas durante o exercício em análise, poderá ser solicitadagratuitamente na sede social e junto do Representante do Fundo em Hong Kong.


14. Estatuto de DistribuidorA certificação como “fundo de distribuição” nos termos da lei de 1988 do Reino Unido relativa a impostos sobre o rendimento (Income and

Corporation Taxes Act) para efeitos fiscais no RU, foi procurada e ganha para o exercício findo a 28 de Fevereiro de 2010 para as Classes de

Acções de Distribuição A e C dos seguintes fundos (conforme aplicável); Não há títulos emprestados a 31 de Agosto de 2010. O rendimento

proveniente do empréstimo de títulos está registado sob "Outros Rendimentos" na Demonstração de Operações e Variações no Activo Líquido

(divulgado apenas no final do ano).


15. Empréstimo de Acções

O Fundo celebrou um contrato de empréstimo de acções com o State Street em Novembro de 2008.

Não há houve nenhuma segurança no empréstimo no dia 31 de Agosto de 2010.

A segurança emprestando rendimento é registrada embaixo “de Outro Rendimento” na Afirmação de Operações e Modificações em Ativos Nett (reveladono fim do ano só).

16. Comissões em espécie e operações com entidades relacionadasAlgumas subsidiárias do Invesco Ltd (adiante denominado de "Grupo") com o fito de obter o melhor resultado líquido, incluindo a melhor execução,

poderão realizar acordos com entidades homólogas através dos quais estas poderão realizar pagamentos relativos a serviços financeiros fornecidos

ao Grupo.

O Grupo utiliza os serviços financeiros com vista a melhorar e complementar os serviços prestados aos seus clientes. Embora nem todos os serviços

possam ser utilizados para servir todas as contas geridas pelo Grupo, este considera que, globalmente, os serviços financeiros recebidos se traduzem

numa ajuda importante com vista a satisfazer as suas responsabilidades em termos de investimento e relativamente aos quais os clientes obtêm

vantagens óbvias. As entidades homólogas pagarão exclusivamente os serviços cuja finalidade é auxiliar na prestação de serviços financeiros aos

clientes do Grupo.

Os serviços financeiros admissíveis abrangem aqueles que prestam auxílio ao Grupo em termos do seu desempenho financeiro. Aqueles serviços

abrangem, a título meramente enunciativo e não limitativo, a análise, research e serviços de consultoria, que abrangem factores e tendências

económicas, valorização e análise de carteiras, aferição do desempenho, serviços de preços do mercado e o recurso a software e hardware

informáticos especializados ou outros meios de informação.

O Grupo garantirá o cumprimento das suas obrigações relativamente às decisões financeiras tomadas face aos seus clientes em conformidade com a

legislação dos países com jurisdição sobre os referidos clientes ou actividade. A aplicação desta prerrogativa pode variar quanto à adequação dos

serviços financeiros prestados.

Com vista à realização de transacções, o Grupo selecciona entidades homólogas com base no entendimento de que as transacções serão executadas

exclusivamente se a realização das ordens não prejudicar os melhores interesses dos clientes do Grupo e se o múltiplo atingir um nível geralmente

aceite pela prática dos mercados. O Grupo envidará esforços para que a execução de todas as transacções seja a melhor para todos os clientes.

Além disso, é possível aos clientes instruírem o Grupo para que este pague comissões a entidades homólogas relativamente a produtos e serviços que,

de outro modo, terão de ser remunerados. Nesses casos, as comissões são utilizadas para vantagem exclusiva do cliente cujas transacções deram

origem às referidas comissões.

O Grupo irá esforçar-se por manter os mais altos padrões legais em todo o mundo.


378 Invesco Funds


379 Invesco Funds

BOARD OF DIRECTORS

ORGANISATIONS

Leslie Schmidt(Chairman)George’s Quay House43 Townsend StreetDublin 2, IrelandHead of Global FundAccounting

Oliver CarrollGeorge’s Quay House43 Townsend StreetDublin 2, IrelandHead of Finance (Dublin)

Carsten MajerAn der Welle 5D-60322 Frankfurt am MainGermanyChief Marketing OfficerContinental Europe Division

John RowlandPerpetual ParkPerpetual Park DriveHenley-on-ThamesOxforshire RG9 1HHUnited KingdomGlobal Head of InvestmentOperations

Jan HochtrittAn der Welle 5D-60322 Frankfurt am MainGermanyHead of Global Products

Registered OfficeFrom 1 March 2010 to 14 May2010:46A, Avenue John F. KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

From 15 May 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Management CompanyInvesco Management S.A.19, rue de BitbourgL-2173 LuxembourgGrand Duchy of Luxembourg

Investment AdvisersInvesco Asset Management LimitedRegistered Office30 Finsbury SquareLondon EC2A 1AGUnited Kingdom

Invesco Asset Management AsiaLimitedRegistered Office32/F, Three Pacific Place1 Queen’s Road East, Hong Kong

Invesco Asset Management(Japan) LimitedRegistered OfficeShiroyama Trust Tower 25F3-1, Toranomon 4-chome,Minato-KuTokyo, 13 105-6025Japan

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036United States of America

Invesco Trimark Ltd 5140 Yonge StreetSuite 900, TorontoOntario, MZN 6X7, Canada

Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermany

Custodian & Paying Agent inLuxembourgThe Bank of New York Mellon(International) Limited,Luxembourg Branch Vertigo Building - Polaris2-4 rue Eugène Ruppert,L-2453 LuxembourgGrand Duchy of Luxembourg

Administration Agent, Registrar& Transfer AgentThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Domiciliary and Corporate AgentThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Primary Dealing Desk

Hong Kong - Dublin

Hong Kong Sub-Distributor &Representative.Invesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road EastHong KongTel: +852 3128 6000Fax: +852 3128 6001

German Sub-Distributor andInformation AgentInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermanyTel: +49 69 29807 0Fax: +49 69 29807 156

Global DistributorInvesco Global Asset ManagementLimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrelandTel: +353 1 439 8000Fax: +353 1 439 8400

AuditorPricewaterhouseCoopers S.à r.l.400 route d’EschB.P 1443, L-1014 LuxembourgGrand Duchy of Luxembourg

Legal Advisers to the SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L-2014 LuxembourgGrand Duchy of Luxembourg

German Paying AgentBNP Paribas Securities ServicesS.A.PBranch Office Frankfurt am MainGrüneburgweg 14D-60322 FrankfurtGermany

Austrian DistributorInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18A-1010 ViennaAustriaTel: +43 1 316 2030Fax: +43 1 316 2020

Austrian Paying AgentKommunalkredit Depotbank AgTürkenstraße 9A-1092 Vienna, Austria

Swiss Paying Agent Banque MeesPierson BGL S.A.Rennwieg 57PostfachCH-8023 ZurichSwitzerland

Invesco Limited RepresentativeOffices

Austria Invesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Vienna, AustriaTel: +43 1 316 2000Fax: +43 1 316 2020

BelgiumInvesco CE Services S.A.The Blue TowerAvenue Louise 326B-1050 BrusselsBelgiumTel: +32 2641 0127Fax: +32 2641 0175

FranceInvesco Asset Management S.A.16-18, rue de Londres,F-75009 ParisFranceTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

GermanyInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermanyTel: +49 69 29807 0Fax: +49 69 29807 159

Hong KongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

ItalyInvesco Asset Management S.A.Via Cordusio 2I-20123 MilanItalyTel: +39 02 88 074 1Fax: +39 02 88 074 391

JerseyInvesco International LimitedPO Box 1588Orviss House17A Queens StreetSt Helier, Jersey, JE4 2PHTel.: +44 1534 607 600Fax.: +44 1534 510 510

The NetherlandsInvesco Asset Management S.A.J.C. Geesinkweg 999 NL-1096 AZ Amsterdam The NetherlandsTel: +31 20 561 62 61Fax: +31 20 561 68 88

SpainInvesco Asset Management S.A.Sucursal en EspanaCalle Recoletos 15, Piso1 E-28001 MadridSpainTel: +34 91 902 510 907Fax: +34 91 902 510 876

SwitzerlandInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 ZurichSwitzerland Tel: +41 1 287 9000Fax: +41 1 287 9010

United KingdomInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGUnited KingdomTel: +44 207 065 4000Fax: +44 207 638 0752


380 Invesco Funds

DER VERWALTUNGSRAT

ORGANISATIONEN






Eingetragener SitzVom 1 März 2010 um 14 Mai 2010:46A, Avenue John F. KennedyL-1855 LuxembourgGroßherzogtum Luxemburg

Vom 15 Mai 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Großherzogtum Luxemburg

VerwaltungsgesellschaftInvesco Management S.A.19, rue de BitbourgL-2173 LuxembourgGroßherzogtum Luxemburg

AnlageberaterInvesco Asset Management LimitedEingetragener Sitz30 Finsbury SquareLondon EC2A 1AGVereinigtes Königreich

Invesco Asset Management AsiaLimitedEingetragener Sitz32/F, Three Pacific Place1 Queen’s Road East, Hongkong

Invesco Asset Management(Japan) LimitedEingetragener SitzShiroyama Trust Tower 25F3-1, Toranomon 4-chome, Minato-KuTokyo, 13 105-6025Japan

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036USA


Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainDeutschland

Depotbank und Zahlstelle inLuxemburgThe Bank of New York Mellon(International) Limited.Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Großherzogtum Luxemburg

Registerführer undÜbertragungsagent

The Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Großherzogtum Luxemburg

NotierungsagentThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Großherzogtum Luxemburg

Haupthandelsbüros

Hongkong – Dublin

Unter-Vertriebsgesellschaft undRepräsentant in HongkongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road EastHong KongTel: +852 3128 6000Fax: +852 3128 6001

DeutscheUntervertriebsgesellschaft undInformationsstelleInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainDeutschlandTel: +49 69 29807 0Fax: +49 69 29807 159

Weltweite Vertriebsgesellschaft Invesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrlandTel: +353 1 439 8000Fax: +353 1 439 8400

Repräsentant imVereinigten KönigreichInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGVereinigtes Königreich Tel: +44 207 065 4000Fax: +44 207 638 0752

AbschlußprüferPricewaterhouseCoopers S.à r.l400 route d’EschB.P 1443, L-1014 LuxembourgGroßherzogtum Luxemburg

Rechtsberater der SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L - 2014 LuxembourgGroßherzogtum Luxemburg

Zahlstelle in DeutschlandBNP Paribas Securities ServicesS.A.Branch Office Frankfurt am MainGrüneburgweg 14D-60322 Frankfurt, Deutschland

Vertriebsgesellschaft inÖsterreichInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16-18A-1010 WienÖsterreichTel: +43 1 316 2030Fax: +43 1 316 2020

Zahlstelle in ÖsterreichKommunalkredit Depotbank AGTürkenstraße 9A-1092 Wien, Österreich

Zahlstelle in der SchweizBanque MeesPierson BGL S.A.Rennweg 57PostfachCH-8023 ZürichSchweiz

Büros der Invesco Limited

ÖsterreichInvesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Wien, ÖsterreichTel: +43 1 316 2000Fax: +43 1 316 2020

BelgienInvesco CE Services S.A.The Blue TowerAvenue Louise 326B-1050 BrüsselBelgienTel: +32 2641 0127Fax: +32 2641 1175

FrankreichInvesco Asset Management S.A.16-18, rue de LondresF-75009 ParisFrankreichTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

DeutschlandInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainDeutschland Tel: +49 69 29807 0Fax: +49 69 29807 159

HongkongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

ItalienInvesco Asset Management S.A. Via Cordusio 2I-20123 MailandItalienTel: +39 02 88 074 1Fax: +39 02 88 074 391


NiederlandeInvesco Asset Management S.A. J.C. Geesinkweg 999 NL-1096 AZ Amsterdam NiederlandeTel: +31 20 561 62 61Fax: +31 20 561 68 68

SpanienInvesco Asset Management S.A.Sucursal en EspanaCalle Recoletos 15, Piso1E-28001 MadridSpanienTel: +34 902 510 907Fax: +34 902 510 876

SchweizInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 ZürichSchweizTel: +41 1 287 9000Fax: +41 1 287 9010

Vereinigtes KönigreichInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGVereinigtes Königreich Tel: +44 207 065 4000Fax: +44 207 638 0752


381 Invesco Funds

CONSEIL D’ADMINISTRATION

ORGANISATIONS






Siège socialDe 1 mars 2010 a 14 mai 2010:46A, Avenue John F. KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

De 15 mai 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Management CompanyInvesco Management S.A.8 rue Jean MonnetL-2180 LuxembourgGrand Duchy of Luxembourg

Conseillers en placementsInvesco Asset Management LimitedSiège social30 Finsbury SquareLondon EC2A 1AGRoyaume-Uni

Invesco Asset Management AsiaLimitedSiège social32/F, Three Pacific Place1 Queen’s Road East, Hong-Kong

Invesco Asset Management(Japan) LimitedSiège socialShiroyama Trust Tower 25F3-1, Toranomon 4-chome, Minato-KuTokyo, 13 105-6025Japon

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036États-Unis d'Amérique


Invesco Asset ManagementDeutscheland GmbHAn der Welle 5D-60322 Frankfurt am MainAllemagne

Agent dépositaire et Agentpayeur au LuxembourgThe Bank of New York Mellon(International) Limited.Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Agent des registres et destransferts

The Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Agent de cotation, Domiciliataireet Administrateur socialThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Bureau pour les opérationsprimaires

Hong-Kong - Dublin

Sous-distribution etreprésentation à Hong-KongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTél. : +852 3128 6000Fax : +852 3128 6001

Sous-distribution etreprésentation en AllemagneInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainAllemagneTél. : +49 69 29807 0Fax : +49 69 29807 159

Distributeur dans le monde entierInvesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrlandeTél. : +353 1 439 8000Fax : +353 1 439 8400

Représentant au Royaume-UniInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGRoyaume-UniTél. : +44 207 065 4000Fax : +44 207 638 0752

Réviseurs d’entreprisePricewaterhouseCoopers S.à r.l.400 route d’EschB.P 1443, L-1014 LuxembourgGrand Duchy of Luxembourg

Conseillers juridiques auprès de laSICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L - 2014 LuxembourgGrand Duchy of Luxembourg

Agent payeur en AllemagneBNP Paribas Securities ServicesS.A.Branch Office Frankfurt am MainGrüneburgweg 14D-60322 FrankfurtAllemagne

Distributeur en AutricheInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18A-1010 WienAutricheTél. : +43 1 316 2030Fax : +43 1 316 2020

Agent payeur en AutricheKommunalkredit Depotbank AGTürkenstraße 9A-1092 Wien, Autriche

Agent payeur en SuisseBanque MeesPierson BGL S.A.Rennwieg 57PostfachCH-8023 ZurichSuisse

Bureaux de représentation d’Invesco Limited

Autriche Invesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Wien, AutricheTél. : +43 1 316 2000Fax : +43 1 316 2020

BelgiqueInvesco CE Services S.A.The Blue TowerAvenue Louise 326B-1050 BruxellesBelgiqueTél. : +32 2641 0127Fax : +32 2641 0175

FranceInvesco Asset Management S.A.16-18, rue de Londres,F-75009 ParisFranceTél. : +33 1 56 62 43 02Fax : +33 1 56 62 43 83

AllemagneInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermanyAllemagneTél. : +49 69 29807 0Fax : +49 69 29807 159

Hong-KongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

ItalieInvesco Asset Management S.A.Via Cordusio 2I-20123 MilanItalieTél. : +39 02 88 074 1Fax : +39 02 88 074 391


Pays-BasInvesco Asset Management S.A. J.C. Geesinkweg 999 NL-1096 AZ Amsterdam Pays-BasTél. : +31 20 561 62 61Fax : +31 20 561 68 88

EspagneInvesco Asset Management LimitedS.A.Sucursal en EspanaCalle Recoletos 15, Piso1E-28001 MadridEspagneTél. : +34 902 510 907Fax : +34 902 510 876

SuisseInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 SuisseTél. : +41 1 287 9000Fax : +41 1 287 9010

Royaume-UniInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGRoyaume-UniTél. : +44 207 065 4000Fax : +44 207 638 0752


382 Invesco Funds

STYRET






Forretningskontor Fra 1 mars 2010 a 14 kunne 2010:

46A, route d'Esch

Avenue John F. Kennedy

L-1855 Luxembourg

Grand Duchy of Luxembourg

Fra 15 kunne 2010:

Vertigo Building - Polaris

2-4 rue Eugène Ruppert,

L-2453 Luxembourg


Management CompanyInvesco Asset Management LimitedRegistrert kontor30 Finsbury SquareLondon EC2A 1AGStorbritannia

Invesco Hong Kong LimitedRegistrert kontor12th FloorThree Exchange Square8 Connaught PlaceCentralHongkong

Invesco Asset Management(Japan) LimitedRegistrert kontor16th FloorImperial Tower1-1-1 Uchisaiwai-choChiyoda-kuTokyo 100 - 0011Japan

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036USA

Invesco Trimark Ltd

5140 Yonge Street

Suite 900, Toronto

Ontario, MZN 6X7, Canada

Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainTyskland

Depotmottaker ogutbetalingsagent i Luxemburg

The Bank of New York Mellon(International) LimitedLuxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Kontofører og overføringsagent


Noteringsagent i Luxemburg


Primært omsetningssted

Hongkong - Frankfurt - Dublin

Underdistributør og representant i Hongkong.Invesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

Underdistributør og representant i Tyskland.Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainTysklandTel: +49 69 29807 0Fax: +49 69 29807 159

Global distributørInvesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrlandTel: +353 1 439 8000Fax: +353 1 439 8400

Representant i StorbritanniaInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGStorbritanniaTel: +44 207 626 3434Fax: +44 207 454 3755

RevisorerPricewaterhouseCoopers S.à r.l.Réviseur d’EntreprisesEspace Ariane400 route d’EschB.P. 1443, LU-1014 Luxemburg

SICAVs juridiske rådgivere Elvinger, Hoss & Prussen2 Place Winston ChurchillB.P. 425LU-2014 Luxemburg

Tysk utbetalingsagentBNP Paribas Securities ServicesS.A.Branch Office Frankfurt am Main, Grüneburgweg 14, 60322 FrankfurtTyskland

Østerriksk distributørInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18AT - 1010 WienØsterrikeTel: +43 1 316 2030Fax: +43 1 316 2020

Utbetalingsagent i ØsterrikeKommunalkredit Depotbank AGTürkenstraße 9AT-1092 Wien, Østerrike

Utbetalingsagent i SveitsBanque MeesPierson BGL S.A.Rennwieg 57PostfachCH-8023 ZürichSveits

Kontorene til representant for Invesco PLC

ØsterrikeInvesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18AT - 1010 Wien, ØsterrikeTel: +43 1 316 2000Fax: +43 1 316 2020

BelgiaInvesco Continental EuropeThe Blue TowerAvenue Louise 326BE-1050 BrusselBelgiaTel: +32 2641 0127Fax: +32 2641 0175

FrankrikeInvesco France S.A.16-18 rue de Londres,75009, ParisFrankrikeTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

TysklandInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainTysklandTel: +49 69 29807 0Fax: +49 69 29807 159

HongkongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

ItaliaInvesco Asset Management S.A.Via Cordusio 2I-20123 MilanItalyTel: +39 02 88 074 1Fax: +39 02 88 074 391


NederlandInvesco Asset Management S.A.J.C. Geesinkweg 999 NL-1096 AZ Amsterdam The NetherlandsTel: +31 20 561 62 61Fax: +31 20 561 68 88

SpaniaInvesco Asset Management LimitedSucursal en EspanaCalle Recoletos 15, Piso1ES-28001 MadridSpaniaTel: +34 902 510 907Fax: +34 902 510 876

SveitsInvesco Asset Management(Switzerland) LimitedGenferstrasse 21PO Box 324CH-8002 ZürichSveitsTel: +41 1 287 9000Fax: +41 1 287 9010

StorbritanniaInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGStorbritanniaTel: +44 207 065 4000Fax: +44 207 638 0752

ORGANISASJONER


383 Invesco Funds

CONSIGLIO DI AMMINISTRAZIONE

ORGANIZZAZIONI




John RowlandPerpetual ParkPerpetual Park DriveHenley-on-ThamesOxforshire RG9 1HHUnited KingdomGlobal Head ofInvestment Operations


Sede legaleDa 1 marzo 2010 Di 14 potere2010:

46A, route d'Esch

Avenue John F. Kennedy

L-1855 Luxembourg


Da 15 potere 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Management CompanyInvesco Management S.A.8 rue Jean MonnetL-2180 Luxembourg

Consulenti per gli investimentiInvesco Asset Management LimitedSede legale30 Finsbury SquareLondon EC2A 1AGRegno Unito

Invesco Asset Management AsiaLimitedSede legale32/F, Three Pacific Place1 Queen’s Road East, Hong Kong

Invesco Asset Management(Japan) LimitedSede legaleShiroyama Trust Tower 25F3-1, Toranomon 4-chome, Minato-KuTokyo, 13 105-6025Giappone

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036U.S.A.

Invesco Trimark Ltd5140 Yonge StreetSuite 900, TorontoOntario, MZN 6X7, Canada

Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermania

Banca depositaria e BancaAgente in Lussemburgo

The Bank of New York Mellon(International) Limited.Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Conservatore del Registro eAgente per i Trasferimenti


Agente incaricato dellaQuotazione in Lussemburgo


Ufficio negoziazioni principale

Hong Kong - Dublino

Subdistributore e Rappresentanteper Hong KongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

Subdistributore e Rappresentante per la GermaniaInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermaniaTel: +49 69 29807 0Fax: +49 69 29807 159

Distributore GlobaleInvesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrlandaTel: +353 1 439 8000Fax: +353 1 439 8400

Rappresentante nel Regno UnitoInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGRegno UnitoTel: +44 207 065 4000Fax: +44 207 638 0752

RevisoriPricewaterhouseCoopers S.à r.l.Espace Ariane d’entreprises400 Route d’EschB.P 1443, L-1014 Luxembourg

Consulenti legali della SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L - 2014 Luxembourg

Banca Agente per la GermaniaBNP Paribas Securities ServicesS.A.Branch Office Frankfurt am MainGrüneburgweg 1460322 FrankfurtGermania

Distributore per l’AustriaInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18A-1010 ViennaAustriaTel: +43 1 316 2030Fax: +43 1 316 2020

Banca Agente per l’AustriaKommunalkredit Depotbank AGTürkenstraße 9A-1092 Vienna, Austria

Banca Agente per la SvizzeraBanque MeesPierson BGL S.A.Rennwieg 57Postfach8023 ZurichSvizzera

Sedi di rappresentanzadell’Invesco Limited

AustriaInvesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Vienna, AustriaTel: +43 1 316 2000Fax: +43 1 316 2020

BelgioInvesco CE Services S.A.The Blue TowerAvenue Louise 326B-1050 BrusselsBelgioTel: +32 2641 0127Fax: +32 2641 0175

FranciaInvesco Asset Management S.A.22 rue de Trémoille75008 ParisFranciaTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

GermaniaInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermaniaTel: +49 69 29807 0Fax: +49 69 29807 159


ItaliaInvesco Asset Management S.A.Via Cordusio 220123 MilanoItaliaTel: +39 02 88 074 1Fax: +39 02 88 074 391


Paesi BassiInvesco Asset Management S.A. J.C. Geesinkweg 999 NL1096 AZ Amsterdam Paesi BassiTel: +31 20 561 62 61Fax: +31 20 561 68 88

SpagnaInvesco Asset Management S.A.Sucursal en EspanaCalle Recoletos 15, Piso128001 MadridSpagnaTel: +34 902 510 907Fax: +34 902 510 876

SvizzeraInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 ZurichSvizzeraTel: +41 1 287 9000Fax: +41 1 287 9010

Regno UnitoInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGRegno UnitoTel: +44 207 065 4000Fax: +44 207 638 0752


CONSEJO DE ADMINISTRACIÓN

ORGANIZACIONES






Sede SocialDe 1 marzo 2010 a 14 mayo 2010:46A, Avenue John F. KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

De 15 mayo 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Sociedad GestoraInvesco Management S.A.8 rue Jean MonnetL-2180 LuxembourgGrand Duchy of Luxembourg

Management CompanyInvesco Asset Management LimitedDomicilio social30 Finsbury SquareLondon EC2A 1AGReino Unido

Invesco Asset Management AsiaLimitedDomicilio social32/F, Three Pacific Place1 Queen’s Road East, Hong Kong

Invesco Asset Management(Japan) LimitedDomicilio socialShiroyama Trust Tower 25F3-1, Toranomon 4-chome, Minato-KuTokyo, 13 105-6025Japón

Invesco Advisers Inc.1166 Avenue of the Americas,New York, N.Y. 10036Estados Unidos de América


Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainAlemania

Depositario y Agente de Pagos enLuxemburgoThe Bank of New York Mellon(International) Limited.Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Agente de Registro yTransmisiones


Domiciliary and Corporate Agent


Mesa de Negociación Principal

Hong Kong - Dublín

Subdistribuidor y Representanteen Hong KongInvesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

Subdistribuidor alemán yRepresentante alemánInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainAlemaniaTel: +49 69 29807 0Fax: +49 69 29807 159

Distribuidor MundialInvesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrlandaTel: +353 1 439 8000Fax: +353 1 439 8400

Representante en el Reino UnidoInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGReino UnidoTel: +44 207 065 4000Fax: +44 207 638 0752

AuditoresPricewaterhouseCoopers S.à r.lEspace Ariane d’entreprises400 route d’EschB.P 1443, L-1014 LuxembourgGrand Duchy of Luxembourg

Asesores jurídicos de la SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L - 2014 LuxembourgGrand Duchy of Luxembourg

Agente de pagos alemánBNP Paribas Securities ServicesS.A.Branch Office Frankfurt am MainGrüneburgweg 14D-60322 FrankfurtAlemania

Distribuidor austriacoInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18A-1010 ViennaAustriaTel: +43 1 316 2030Fax: +43 1 316 2020

Agente de pagos austriacoKommunalkredit Depotbank AGTürkenstraße 9A-1092 Vienna, Austria

Agente de pagos suizoBanque MeesPierson BGL S.A.Rennwieg 57PostfachCH-8023 ZurichSwitzerland

Oficinas de Representantes delInvesco Limited

AustriaInvesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Vienna, AustriaTel: +43 1 316 2000Fax: +43 1 316 2020

BélgicaInvesco CE Services S.A.The Blue TowerAvenue Louise 326B-1050 BrusselsBélgicaTel: +32 2641 0127Fax: +32 2641 0175

FranciaInvesco Asset Management S.A.16-18, rue de Londres,F-75009 ParisFranciaTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

AlemaniaInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainAlemaniaTel: +49 69 29807 0Fax: +49 69 29807 159


ItaliaInvesco Asset Management S.A.Via Cordusio 2I-20123 MilanItaliaTel: +39 02 88 074 1Fax: +39 02 88 074 391


Países BajosInvesco Asset Management S.A. J.C. Geesinkweg 999 NL-1096 AZ Amsterdam Países BajosTel: +31 20 561 62 61Fax: +31 20 561 68 88

EspañaInvesco Asset Management S.A.Sucursal en EspañaCalle Recoletos 15, Piso1E-28001 MadridEspañaTel: +34 902 510 907Fax: +34 902 510 876

SuizaInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 ZurichSuizaTel: +41 1 287 9000Fax: +41 1 287 9010

Reino UnidoInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGReino UnidoTel: +44 207 065 4000Fax: +44 207 638 0752

384 Invesco Funds







CONSELHO DE ADMINISTRAÇÃO

ORGANIZAÇÕESSede SocialDe 1 Março 2010 a 14 maio 2010:46A, Avenue John F. KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

De 15 maio 2010: Vertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Management CompanyInvesco Management S.A.19 rue de BitourgL-2173 LuxemburgoGrand Duchy of Luxembourg

Consultores de InvestimentoInvesco Asset Management LimitedSede social30 Finsbury SquareLondon EC2A 1AGReino Unido

Invesco Asset Management AsiaLimitedSede social32/F, Three Pacific Place1 Queen’s Road East, Hong Kong

Invesco Asset Management (Japan)LimitedSede socialShiroyama Trust Tower 25F3-1, Toranomon 4-chome, Minato-Ku, Tokyo, 13 105-6025Japão

Invesco Advisers Inc.1166 Avenue of the Americas, NewYork, N.Y. 10036Estados Unidos da América

Invesco Trimark Ltd.5140 Yonge StreetSuite 900, TorontoOntario, MZN 6X7, Canada

Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am Alemanha

Conservador e Agente Pagador noThe Bank of New York Mellon(International) Limited.Luxembourg BranchVertigo Building - Polaris 2-4 rue Eugène Ruppert,L-2453 Luxembourg Grand Duchy of Luxembourg

Oficial de Registos e Agente deTransferências


Listing Agent, Domiciliary andCorporate Agent


Mesa de Negociação Principal

Hong Kong - Dublin

Representante e Subdistribuidorem Hong Kong.Invesco Asset Management AsiaLimited32/F, Three Pacific Place1 Queen’s Road East, Hong KongTel: +852 3128 6000Fax: +852 3128 6001

Subdistribuidor Alemão eRepresentante AlemãoInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am AlemanhaTel: +49 69 29807 0Fax: +49 69 29807 159

O Distribuidor GlobalInvesco Global Distributors LimitedGeorge’s Quay House43 Townsend Street, Dublin 2,IrelandTel: +353 1 439 8000Fax: +353 1 439 8400

Representante no Reino UnidoInvesco Global Investment FundsLimited30 Finsbury SquareLondon EC2A 1AGReino UnidoTel: +44 207 065 4000Fax: +44 207 638 0752

AuditoresPricewaterhouseCoopers S.à r.l.,400 Route d’EschB.P 1443, L-1014 LuxemburgoGrand Duchy of Luxembourg

Conultores Jurídicos da SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L - 2014 LuxemburgoGrand Duchy of Luxembourg

Agente Pagador AlemãoBNP Paribas Securities Services S.A.Branch Office Frankfurt am MainGrüneburgweg 14D-60322 FrankfurtAlemanha

Distribuidor austríacoInvesco Asset ManagementÖsterreich GesmbHRotenturmstraße 16 -18A-1010 ViennaÁustriaTel: +43 1 316 2030Fax: +43 1 316 2020

Agente Pagador AustríacoKommunalkredit Depotbank AGTürkenstraße 9A-1092 Vienna, Áustria

Agente Pagador SuíçoBanque MeesPierson BGL S.A.Rennwieg 57Postfach8023 ZurichSuíça

Representação do Invesco PLC

Áustria Invesco Asset ManagementÖsterreich GesmbH Rotenturmstraße 16 -18A-1010 Vienna, ÁustriaTel: +43 1 316 2000Fax: +43 1 316 2020

BélgicaInvesco Continental EuropeThe Blue TowerAvenue Louise 326B-1050 BrusselsBélgicaTel: +32 2641 0127Fax: +32 2641 1060

FrançaInvesco Asset Management S.A.16-18, rue de Londres,F-75009 ParisFrançaTel: +33 1 56 62 43 02Fax: +33 1 56 62 43 83

AlemanhaInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am AlemanhaTel: +49 69 29807 0Fax: +49 69 29807 159


ItáliaInvesco Italia A.M.Via Cordusio 2I-20123 MilanItáliaTel: +39 02 88 074 1Fax: +39 02 88 074 391


HolandaInvesco Asset Management S.A. J.C. Geesinkweg 999 NL-1096 AZ Amsterdam HolandaTel: +31 20 561 62 61Fax: +31 20 561 68 88

EspanhaInvesco Asset Management S.A.Sucursal en EspanaCalle Recoletos 15, Piso1E-28001 MadridEspanhaTel: +34 902 510 907Fax: +34 902 510 876

SuiçaInvesco Asset Management(Switzerland) LimitedGenferstrasse 21CH-8002 ZurichSuíçaTel: +41 1 287 9000Fax: +41 1 287 9010

Reino UnidoInvesco Asset Management Limited30 Finsbury SquareLondon EC2A 1AGReino UnidoTel: +44 207 065 4000Fax: +44 207 638 0752

385 Invesco Funds


Perivan Financial Print 218627


Invesco Global Asset Management LimitedGlobal DistributorGeorge’s Quay House43 Townsend Street, Dublin 2, IrelandTelephone: +353 1 439 8000 Facsimile: +353 1 439 8400Website: www.invesco.com

Invesco Asset Management Asia LimitedHong Kong Sub-Distributor and Representative32nd Floor, Three Pacific Place1 Queen's Road EastHong KongTelephone: + 852 3128 6000Facsimile : + 852 3128 6001Website: www.invesco.com.hk

Contact us Invesco Funds Interim Report

For the six months ended 31 August 2010 (Unaudited)

Halbjahresbericht für das Halbjahr zum 31. August 2010 (ungeprüft)

Rapport intérimaire et Comptes pour la période de six mois seterminant le 31 août 2010 (non audité)

Halvårsrapport og regnskaper for de seks månedene som bleavsluttet31. August 2010 (Urevidert)

Bilanci provvisori Bilanci provvisori per il semestre chiusoal 31 agosto 2010 (non sottoposti a revisione contabile)

Informe y Cuentas Semestrales correspondientes al semestrecerrado a31 de agosto de 2010 (sin auditar)

Relatório e Contas Anuais provisórios do semestre findo em 31 de agosto de 2010 (Não revistos)

218627 INVESCO Funds Cover.qxp 10/11/10 12:56 Page 1

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