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Invesco Emerging Market Structured Equity Fund C (EUR Hgd)-Acc Shares 31 December 2019 -1- *Source: © 2019 Morningstar. Gross income re-invested to 31 December 2019 unless otherwise stated. The figures do not reflect the entry charge payable by individual investors. All performance data on this factsheet is in the currency of the share class, apart from the index performance which is shown in USD. Reference Index Source: Factset. Please refer to Page 3 for Risk Warnings and Important Information. Summary of fund objective The Fund aims to achieve long-term capital growth. The Fund seeks to achieve its objective by investing primarily in equity or equity related securities of companies in emerging markets. For the full objectives and investment policy please consult the current prospectus. Name changed from Invesco Emerging Market Quantitative Equity Fund on 08.06.2017. The fund objective and reference index also changed. Key facts Alexander Uhlmann Frankfurt am Main Managed fund since June 2010 Alexander Tavernaro Frankfurt am Main Managed fund since June 2010 Share class launch 21 June 2010 Original fund launch 21 June 2010 Legal status Luxembourg SICAV with UCITS status Share class currency EUR Share class type Accumulation Fund size USD 34.64 mn Reference index MSCI Emerging Markets Index (Hedged USD)-NR Bloomberg code IVEMCEH LX ISIN code LU0503255126 Settlement date Trade Date + 3 Days Quarterly fund commentary Emerging equity markets ended the fourth quarter of the year in positive territory amid receding fears of a global recession and signs of progress in US-China trade talks. It was a positive October for emerging markets with all the regions recording gains. Bolstered by signs of stabilization in global growth, emerging markets got off to an encouraging start in November. However, these gains proved to be short-lived as sentiment turned negative due to a mixture of economic, political and corporate factors. Emerging equity markets registered broad gains during December to cap off a successful year as investors responded positively to news that the US and China had reached the phase one trade. The fund concentrates on stocks with attractive risk-return profiles as identified by a systematic investment process which is based on four factors: Earnings Momentum, Price Momentum, Quality and Value. This approach can lead to active positions relative to the benchmark. Looking at the performance attribution for the fourth quarter, the portfolio performance lagged the index. Performance contribution for the targeted return factors was mixed throughout the quarter. The fund’s defensive positioning had a negative impact on relative return in a strongly rising market. Indexed performance* Fund Index 12/14 12/15 12/16 12/17 12/18 12/19 60 70 80 90 100 110 120 130 140 Data points are as at month end. Cumulative performance* in % YTD 1 month 1 year 3 years 5 years Fund 4.99 4.74 4.99 8.48 1.96 Index 17.72 5.75 17.72 35.68 33.85 Calendar year performance* in % 2015 2016 2017 2018 2019 Fund -18.48 15.30 25.18 -17.47 4.99 Index -8.22 7.50 28.56 -10.35 17.72 Standardised rolling 12 month performance* 31.12.14 31.12.15 31.12.16 31.12.17 31.12.18 in % 31.12.15 31.12.16 31.12.17 31.12.18 31.12.19 Fund -18.48 15.30 25.18 -17.47 4.99 Index -8.22 7.50 28.56 -10.35 17.72 Past performance is not a guide to future returns.
Transcript
Page 1: Invesco Emerging Market Structured Equity Fund C (EUR Hgd ...57356ffc-34e9-4cd8... · Invesco Emerging Market Structured Equity Fund C (EUR Hgd)-Acc Shares 31 October 2019-1- ...

Invesco Emerging Market Structured EquityFundC (EUR Hgd)-Acc Shares31 December 2019

-1-

*Source: © 2019 Morningstar. Gross income re-invested to 31 December 2019 unless otherwise stated. The figures do not reflect the entry charge payable byindividual investors. All performance data on this factsheet is in the currency of the share class, apart from the index performance which is shown in USD.Reference Index Source: Factset. Please refer to Page 3 for Risk Warnings and Important Information.

Summary of fund objectiveThe Fund aims to achieve long-term capitalgrowth. The Fund seeks to achieve itsobjective by investing primarily in equity orequity related securities of companies inemerging markets. For the full objectivesand investment policy please consult thecurrent prospectus. Name changed fromInvesco Emerging Market QuantitativeEquity Fund on 08.06.2017. The fundobjective and reference index alsochanged.

Key facts

Alexander UhlmannFrankfurt am MainManaged fund sinceJune 2010

AlexanderTavernaroFrankfurt am MainManaged fund sinceJune 2010

Share class launch21 June 2010Original fund launch 21 June 2010Legal statusLuxembourg SICAV with UCITS statusShare class currencyEURShare class typeAccumulationFund sizeUSD 34.64 mn Reference indexMSCI Emerging Markets Index (HedgedUSD)-NRBloomberg codeIVEMCEH LXISIN codeLU0503255126Settlement dateTrade Date + 3 Days

Quarterly fund commentaryEmerging equity markets ended the fourth quarter of the year in positive territory amidreceding fears of a global recession and signs of progress in US-China trade talks. It was apositive October for emerging markets with all the regions recording gains. Bolstered bysigns of stabilization in global growth, emerging markets got off to an encouraging start inNovember. However, these gains proved to be short-lived as sentiment turned negative dueto a mixture of economic, political and corporate factors. Emerging equity markets registeredbroad gains during December to cap off a successful year as investors responded positivelyto news that the US and China had reached the phase one trade. The fund concentrates onstocks with attractive risk-return profiles as identified by a systematic investment processwhich is based on four factors: Earnings Momentum, Price Momentum, Quality and Value.This approach can lead to active positions relative to the benchmark. Looking at theperformance attribution for the fourth quarter, the portfolio performance lagged the index.Performance contribution for the targeted return factors was mixed throughout the quarter.The fund’s defensive positioning had a negative impact on relative return in a strongly risingmarket.

Indexed performance*Fund Index

12/14 12/15 12/16 12/17 12/18 12/1960

70

80

90

100

110

120

130

140

Data points are as at month end.

Cumulative performance*in % YTD 1 month 1 year 3 years 5 years

Fund 4.99 4.74 4.99 8.48 1.96

Index 17.72 5.75 17.72 35.68 33.85

Calendar year performance*in % 2015 2016 2017 2018 2019

Fund -18.48 15.30 25.18 -17.47 4.99

Index -8.22 7.50 28.56 -10.35 17.72

Standardised rolling 12 month performance*31.12.14 31.12.15 31.12.16 31.12.17 31.12.18

in % 31.12.15 31.12.16 31.12.17 31.12.18 31.12.19

Fund -18.48 15.30 25.18 -17.47 4.99

Index -8.22 7.50 28.56 -10.35 17.72Past performance is not a guide to future returns.

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Invesco Emerging Market Structured Equity FundC (EUR Hgd)-Acc Shares31 December 2019

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Source: *Invesco. Portfolio weightings and allocations are subject to change. The weightings for each breakdown are rounded to the nearest tenth orhundredth of a percent; therefore, the aggregate weights for each breakdown may not equal 100%. The top 10 overweight and underweight positionsrepresent the largest weighting differences between the fund and the index.

Holdings and active weights* (total holdings: 134)

Top 10 holdings %

MSCI Emerging Market Future Mar20 20

1.6

Tupy 1.4

Astral Foods 1.2

NMDC 1.2

Anhui Conch Cement 1.1

Weichai Power 1.1

China Mobile 1.1

Interregional Distribution Grid ofVolga JSC

1.1

Sany Heavy Industry 1.1

United Tractors 1.1

Top 10 overweight +

MSCI Emerging Market Future Mar 2020

1.6

Tupy 1.4

Astral Foods 1.2

NMDC 1.2

Anhui Conch Cement 1.1

Interregional Distribution Grid ofVolga JSC

1.1

Sany Heavy Industry 1.1

Air Arabia 1.1

SFA Engineering 1.1

United Tractors 1.0

Top 10 underweight -

Alibaba 5.8

Tencent 4.4

Taiwan Semiconductor 4.4

Samsung Electronics 3.7

China Construction Bank 1.3

Ping An Insurance 1.2

Naspers 1.2

Reliance 1.0

Housing Development Finance 0.9

Industrial and Commercial Bank ofChina 'H'

0.8

Geographical weightings of the fund in %*

g Chinag South Koreag Taiwang Indiag Brazilg Thailandg Mexicog South Africag Othersg Cash

Sector weightings of the fund in %*

g Consumer Staplesg Communication Servicesg Industrialsg Materialsg Consumer Discretionaryg Financialsg Information Technologyg Health Careg Othersg Cash

NAV and fees Current NAVEUR 8.83 12 month price highEUR 9.01 (09/04/2019)12 month price lowEUR 8.04 (27/08/2019)Minimum investment 1

EUR 800,000Entry charge Up to 5.00%Annual management fee0.75%Ongoing charges 2

1.13%

Geographical weightings*in % Fund Index

China 18.0 34.0

South Korea 16.3 11.7

Taiwan 13.3 11.7

India 9.2 8.6

Brazil 7.0 7.4

Thailand 6.7 2.6

Mexico 6.1 2.3

South Africa 6.1 4.6

Others 14.6 17.1

Cash 2.6 0.0

Sector weightings*in % Fund Index

Consumer Staples 14.9 6.3

Communication Services 14.8 11.0

Industrials 14.7 5.3

Materials 12.9 7.4

Consumer Discretionary 9.9 14.2

Financials 6.8 24.2

Information Technology 6.6 15.7

Health Care 6.3 2.8

Others 10.6 13.0

Cash 2.6 0.0

Financial characteristics*

Average weighted market capitalisation EUR 10.99 bn

Median market capitalisation EUR 3.97 bn

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Invesco Emerging Market Structured Equity FundC (EUR Hgd)-Acc Shares31 December 2019

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Page1 Profile = [Page1Profile]Page2 Profile = [Page2Profile]

Page3 Profile = [Page3Profile]ISIN = [ISIN]

Fund Reg Loc = [Locale]DeskNet Job ID = Not in Data to Tag

Risk Warnings

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may notget back the full amount invested. The fund may invest directly in Russia, which can involve significant risks to capital. The fund usesderivatives (complex instruments) for investment purposes, which may result in the fund being significantly leveraged and may result inlarge fluctuations in the value of the fund. As a large portion of the fund is invested in less developed countries, you should be prepared toaccept significantly large fluctuations in the value of the fund. The fund may invest in certain securities listed in China which can involvesignificant regulatory constraints that may affect the liquidity and/or the investment performance of the fund.

Important Information

1The minimum investment amounts are: USD 1,000,000 / EUR 800,000 / GBP 600,000 / CHF 1,000,000 / SEK 7,000,000.Please contact us or refer to the most up to date Prospectus for details of minimum investment amounts in other currencies.2The ongoing charges figure is based on annualised expenses for the period ending August 2019. This figure may vary from yearto year. It excludes portfolio transaction costs except in the case of an entry or exit charge paid by the Fund when buying orselling shares/units in another fund.

On 08 June 2017 the name of the fund was changed from Invesco Emerging Market Quantitative Equity Fund to Invesco EmergingMarket Structured Equity Fund. The objective of the fund and reference index also changed. Previous Benchmark: MSCI Emerging MarketsIndex-ND. Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ fromthose of other investment professionals and are subject to change without notice. This marketing document is not an invitation tosubscribe for shares in the fund and is by way of information only, it should not be considered financial advice. This does not constitute anoffer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to makesuch an offer or solicitation. Persons interested in acquiring the fund should inform themselves as to (i) the legal requirements in thecountries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant taxconsequences. As with all investments, there are associated risks. This document is by way of information only. Asset managementservices are provided by Invesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictionswhere its promotion and sale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not allshare classes are the same nor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependenton share class chosen. Please check the most recent version of the fund prospectus in relation to the criteria for the individual shareclasses and contact your local Invesco office for full details of the fund registration status in your jurisdiction. This document is marketingmaterial and is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirementsthat require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to tradebefore publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy orsell securities. Please refer to the most up to date relevant fund and share class-specific Key Investor Information Document, the latestProspectus and Annual or Interim Short Reports for more information on our funds. UK based investors should also refer to the relevantSupplementary Information Document. This information is available using the contact details shown. Issued in Jersey and Guernsey byInvesco International Limited, 28 Esplanade, St Helier, Jersey JE2 3QA. Regulated by the Jersey Financial Services Commission. InGuernsey the fund can only be promoted to Professional Clients. Issued in the UK by Invesco Fund Managers Limited, Perpetual Park,Perpetual Park Drive, Henley-on-Thames, Oxfordshire RG9 1HH, UK. Authorised and regulated by the Financial Conduct Authority. For thepurposes of UK law, the fund is a recognised scheme under section 264 of the Financial Services & Markets Act 2000. The protectionsprovided by the UK regulatory system, for the protection of Retail Clients, do not apply to offshore investments. Compensation under theUK’s Financial Services Compensation Scheme will not be available and UK cancellation rights do not apply.

© 2019 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its contentproviders are responsible for any damages or losses arising from any use of this information.


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