Mutual Funds

Invesco Global Real Estate Income Fund

Alternatives | Real Estate

Objective & Strategy

The fund seeks current income, with capital appreciation as a secondary objective, by investing in equity and fixed income real estate securities.

Global Income Focused

An active strategy with flexibility to invest in both real estate equity and fixed income securities on a global scale, seeking attractive income and capital appreciation with an eye on risk.

Income   Flexibility   Diversification
Real estate fixed income may provide more attractive yield opportunities versus other income alternatives.   With flexibility to invest worldwide across the real estate capital structure, fund managers are able to make allocation decisions designed to manage changing market conditions.   Including both real estate equities and fixed income securities provides greater diversification with potentially less risk overall.

Style Map

Invesco Global Real Estate Income Fund

The map illustrates areas in which the fund can invest, not necessarily within a limited period of time.

as of 11/30/2016

Morningstar Rating

Overall Rating - Global Real Estate Category

As of 11/30/2016 the Fund had an overall rating of 4 stars out of 186 funds and was rated 4 stars out of 186 funds, 3 stars out of 148 funds and 5 stars out of 68 funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable. ©2016 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. A fund is eligible for a Morningstar Rating three years after inception. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

Management team

as of 10/31/2016

Top Equity Holdings | View all

% of Total Assets
HCP INC 1.91
SIMON PROPERTY GROUP INC 1.75
SUN HUNG KAI PROPERTIES 1.65
LAND SECURITIES GROUP 1.60
WESTFIELD CORP 1.51
BRIXMOR PPTY GROUP INC 1.50
APPLE HOSPITALITY REIT INC 1.38
MITSUI FUDOSAN CO LTD 1.36
UNIBAIL RODAMCO SE 1.29
AVALONBAY COMMUNITIES INC 1.29

May not equal 100% due to rounding.

Holdings are subject to change and are not buy/sell recommendations.

as of 11/30/2016 09/30/2016

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 05/31/2002 N/A 8.43 2.95 3.03 4.87 6.79 3.20
Load 05/31/2002 5.50 8.01 -2.69 -2.65 2.92 5.59 2.61
Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares.

Performance shown at NAV does not include applicable front-end or CDSC sales charges, which would have reduced the performance.

Performance figures reflect reinvested distributions and changes in net asset value (NAV) and the effect of the maximum sales charge unless otherwise stated.

On March 12, 2007, the fund reorganized from a Closed-End Fund to an open-end fund. Returns prior to March 12, 2007, are the historical returns of the Closed-End Fund's Common Shares. The Closed-End Fund's Common Shares inception date is May 31, 2002.

The Fund's returns include an adjustment for a one time payment to the Fund by the Advisor. Had this payment to the Fund not been made, the returns would have been lower.

Had fees not been waived and/or expenses reimbursed currently or in the past, returns would have been lower.

as of 11/30/2016 09/30/2016

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Custom Global Real Estate Income IX -2.73 -9.18 1.95 4.93 9.04 2.50
MSCI World IX ND 1.44 0.00 3.15 3.71 9.88 3.79
Custom Global Real Estate Income IX -1.00 1.25 14.85 7.71 12.29 4.50
MSCI World IX ND 0.53 4.87 11.36 5.85 11.63 4.47

Source: Invesco, FactSet Research Systems Inc.

Source: FactSet Research Systems Inc.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.74
12b-1 Fee 0.25
Other Expenses 0.23
Interest/Dividend Exp 0.00
Total Other Expenses 0.23
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.01
Total Annual Fund Operating Expenses 1.23
Contractual Waivers/Reimbursements N/A
Net Expenses - PER PROSPECTUS 1.23
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.23
This information is updated per the most recent prospectus.

Historical Prices

From   to
No history records found for this date range

Distributions

From   to
    Capital Gains Reinvestment
Price ($)
Ex-Date Income Short Term Long Term
09/15/2016 0.1080 N/A N/A 9.00
06/16/2016 0.0687 N/A N/A 8.94
03/17/2016 0.0642 N/A N/A 8.89
12/11/2015 0.0718 N/A 0.2001 8.47
09/17/2015 0.0759 N/A N/A 8.78
06/18/2015 0.0759 N/A N/A 9.16
03/19/2015 0.0759 N/A N/A 9.38
12/12/2014 0.1051 N/A 0.0048 9.17
09/18/2014 0.1260 N/A N/A 9.08
06/19/2014 0.1106 N/A N/A 9.25
03/20/2014 0.0905 N/A N/A 8.70
12/13/2013 0.1312 N/A 0.1024 8.38
09/19/2013 0.0904 N/A N/A 8.88
06/20/2013 0.0904 N/A N/A 8.69
03/21/2013 0.0736 N/A N/A 9.26
12/07/2012 0.2367 N/A N/A 8.89
09/20/2012 0.1021 N/A N/A 9.02
06/14/2012 0.1100 N/A N/A 8.41
03/15/2012 0.0946 N/A N/A 8.56
12/09/2011 0.1050 N/A N/A 7.98
09/15/2011 0.0908 N/A N/A 8.14
06/16/2011 0.0908 N/A N/A 8.39
03/17/2011 0.0584 N/A N/A 8.23
12/03/2010 0.0838 N/A N/A 8.07
09/16/2010 0.0745 N/A N/A 7.92
06/17/2010 0.0685 N/A N/A 7.60
03/18/2010 0.0698 N/A N/A 7.56
12/11/2009 0.0691 N/A N/A 7.00
09/18/2009 0.0661 N/A N/A 6.93
06/19/2009 0.0398 N/A N/A 5.49
03/20/2009 0.0453 N/A N/A 4.29
12/12/2008 0.0876 N/A N/A 5.04
09/18/2008 0.1045 N/A N/A 8.01
06/18/2008 0.1045 N/A N/A 8.79
03/18/2008 0.0891 N/A N/A 8.54
12/14/2007 0.2438 0.2776 5.8990 8.743
09/20/2007 0.2124 N/A N/A 16.37
06/20/2007 0.2178 N/A N/A 16.809
03/20/2007 0.0605 N/A N/A 17.415
02/28/2007 0.0500 N/A 0.0937 17.523
01/31/2007 0.0500 N/A N/A 17.917
12/29/2006 N/A 0.3404 2.9623 17.347
11/29/2006 0.1040 N/A N/A 20.591
10/30/2006 0.1040 N/A N/A 20.313
09/28/2006 0.1040 N/A N/A 19.638
08/30/2006 0.1040 N/A N/A 19.397
07/28/2006 0.1040 N/A 0.2867 18.564
06/26/2006 0.1040 N/A N/A 17.755
05/30/2006 0.1040 N/A N/A 17.525
04/28/2006 0.1040 N/A N/A 18.37
03/30/2006 0.1040 N/A N/A 19.113
02/27/2006 0.1040 N/A N/A 18.844
01/30/2006 0.1040 N/A N/A 18.532
12/29/2005 0.1040 N/A 1.0768 17.561
11/29/2005 0.1040 N/A N/A 19.087
10/28/2005 0.1040 N/A N/A 18.674
09/29/2005 0.1030 N/A 0.5885 19.361
08/30/2005 0.1030 N/A N/A 19.702
07/28/2005 0.1030 N/A N/A 21.069
06/29/2005 0.1030 N/A N/A 20.108
05/27/2005 0.1030 N/A N/A 19.158
04/28/2005 0.1030 N/A N/A 18.526
03/30/2005 0.1030 N/A N/A 18.11
02/25/2005 0.1030 N/A N/A 18.906
01/28/2005 0.1030 N/A N/A 18.453
12/30/2004 0.1030 N/A 0.5009 20.024
11/29/2004 0.1030 N/A N/A 19.922
10/29/2004 0.1030 N/A N/A 19.441
09/29/2004 0.1030 N/A N/A 18.582
08/30/2004 0.1030 N/A N/A 18.484
07/30/2004 0.1030 N/A N/A 17.512
06/29/2004 0.1030 N/A N/A 17.319
05/28/2004 0.1030 N/A N/A 17.271
04/29/2004 0.1030 N/A N/A 16.558
03/30/2004 0.1030 N/A N/A 19.637
02/27/2004 0.1030 N/A N/A 18.923
01/30/2004 0.1030 N/A N/A 18.663
12/30/2003 0.1030 N/A N/A 17.979
11/26/2003 0.1020 N/A N/A 17.046
10/30/2003 0.1020 N/A N/A 16.49
09/29/2003 0.1020 N/A N/A 15.856
08/28/2003 0.1020 N/A N/A 15.287
07/30/2003 0.1020 N/A N/A 15.67
06/27/2003 0.1020 N/A N/A 14.87
05/29/2003 0.1020 N/A N/A 14.047
04/29/2003 0.1020 N/A N/A 13.56
03/28/2003 0.1020 N/A N/A 12.846
02/27/2003 0.1010 N/A N/A 12.587
01/30/2003 0.1010 N/A N/A 12.259
12/30/2002 0.1010 N/A N/A 12.784
11/29/2002 0.1010 N/A N/A 12.899
10/16/2002 0.1000 N/A N/A 12.231
09/13/2002 0.1000 N/A N/A 13.735
08/07/2002 0.1000 N/A N/A 13.556
as of 10/31/2016

Asset Mix

May not equal 100% due to rounding.

as of 11/30/2016

Fund Characteristics

3-Year Alpha N/A
3-Year Beta N/A
3-Year R-Squared N/A
Number of Securities N/A
Total Assets $966,385,255.00
Wghtd Med Mkt Cap MM$ $6,223.00

Source: FactSet Research Systems Inc., StyleADVISOR

as of 10/31/2016

Top Equity Holdings | View all

% of Total Assets
HCP INC 1.91
SIMON PROPERTY GROUP INC 1.75
SUN HUNG KAI PROPERTIES 1.65
LAND SECURITIES GROUP 1.60
WESTFIELD CORP 1.51
BRIXMOR PPTY GROUP INC 1.50
APPLE HOSPITALITY REIT INC 1.38
MITSUI FUDOSAN CO LTD 1.36
UNIBAIL RODAMCO SE 1.29
AVALONBAY COMMUNITIES INC 1.29

May not equal 100% due to rounding.

Holdings are subject to change and are not buy/sell recommendations.

as of 10/31/2016

Top Industries

  % of Total Assets
Retail REITs 18.66
Specialized REITs 11.77
Diversified REITs 8.82
Hotel & Resort REITs 6.98
Office REITs 6.73
Industrial REITs 6.34
Health Care REITs 4.89
Diversified Real Estate Activities 4.83
Residential REITs 3.90
Real Estate Operating Companies 2.86

May not equal 100% due to rounding.

The holdings are organized according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc. and Standard & Poor's.

as of 10/31/2016

Top Countries

  % of Total Assets
United States 64.59
Australia 6.13
Japan 6.00
Hong Kong 5.38
United Kingdom 4.55
France 3.20
Singapore 2.78
Canada 2.53
Germany 0.80
Netherlands 0.67

May not equal 100% due to rounding.

 About risk

Changing Fixed Income Market Conditions Risk. The current historically low interest rate environment was created in part by the Federal Reserve Board (FRB) and certain foreign central banks keeping the federal funds and equivalent foreign rates at or near zero. There is a risk that interest rates will rise when the FRB and central banks raise these rates. This risk is heightened due to the completion of the FRB's quantitative easing program and the "tapering" of other similar foreign central bank actions. This eventual increase in the federal funds and equivalent foreign rates may expose fixed income markets to heightened volatility and reduced liquidity for certain fixed income investments, particularly those with longer maturities. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies could also result in higher than normal shareholder redemptions, which could potentially increase portfolio turnover and the Fund's transaction costs.

Convertible Securities Risk. The market values of convertible securities are affected by market interest rates, the risk of actual issuer default on interest or principal payments and the value of the underlying common stock into which the convertible security may be converted. Additionally, a convertible security is subject to the same types of market and issuer risks as apply to the underlying common stock. In addition, certain convertible securities are subject to involuntary conversions and may undergo principal write-downs upon the occurrence of certain triggering events, and, as a result, are subject to an increased risk of loss.

Debt Securities Risk. The prices of debt securities held by the Fund will be affected by changes in interest rates, the creditworthiness of the issuer and other factors. An increase in prevailing interest rates typically causes the value of existing debt securities to fall and often has a greater impact on longer-duration debt securities and higher quality debt securities. Falling interest rates will cause the Fund to reinvest the proceeds of debt securities that have been repaid by the issuer at lower interest rates. Falling interest rates may also reduce the Fund's distributable income because interest payments on floating rate debt instruments held by the Fund will decline. The Fund could lose money on investments in debt securities if the issuer or borrower fails to meet its obligations to make interest payments and/or to repay principal in a timely manner. Changes in an issuer's financial strength, the market's perception of such strength or in the credit rating of the issuer or the security may affect the value of debt securities. The Adviser's credit analysis may fail to anticipate such changes, which could result in buying a debt security at an inopportune time or failing to sell a debt security in advance of a price decline or other credit event.

Depositary Receipts Risk. Investing in depositary receipts involves the same risks as direct investments in foreign securities. In addition, the underlying issuers of certain depositary receipts are under no obligation to distribute shareholder communications or pass through any voting rights with respect to the deposited securities to the holders of such receipts. The Fund may therefore receive less timely information or have less control than if it invested directly in the foreign issuer.

Derivatives Risk. The value of a derivative instrument depends largely on (and is derived from) the value of an underlying security, currency, commodity, interest rate, index or other asset (each referred to as an underlying asset). In addition to risks relating to the underlying assets, the use of derivatives may include other, possibly greater, risks, including counterparty, leverage and liquidity risks. Counterparty risk is the risk that the counterparty to the derivative contract will default on its obligation to pay the Fund the amount owed or otherwise perform under the derivative contract. Derivatives create leverage risk because they do not require payment up front equal to the economic exposure created by owning the derivative. As a result, an adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the amount invested in the derivative, which may make the Fund's returns more volatile and increase the risk of loss. Derivative instruments may also be less liquid than more traditional investments and the Fund may be unable to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions, during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be harder to value, less tax efficient and subject to changing government regulation that could impact the Fund's ability to use certain derivatives or their cost. Also, derivatives used for hedging or to gain or limit exposure to a particular market segment may not provide the expected benefits, particularly during adverse market conditions.

Emerging Markets Securities Risk. Emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets. In addition, companies operating in emerging markets may be subject to lower trading volume and greater price fluctuations than companies in more developed markets. Securities law and the enforcement of systems of taxation in many emerging market countries may change quickly and unpredictably. In addition, investments in emerging markets securities may also be subject to additional transaction costs, delays in settlement procedures, and lack of timely information.

Foreign Securities Risk. The Fund's foreign investments may be adversely affected by political and social instability, changes in economic or taxation policies, difficulty in enforcing obligations, decreased liquidity or increased volatility. Foreign investments also involve the risk of the possible seizure, nationalization or expropriation of the issuer or foreign deposits (in which the Fund could lose its entire investments in a certain market) and the possible adoption of foreign governmental restrictions such as exchange controls. Unless the Fund has hedged its foreign securities risk, foreign securities risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, are not always successful.

High Yield Debt Securities (Junk Bond) Risk. Investments in high yield debt securities ("junk bonds") and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile.

Management Risk. The Fund is actively managed and depends heavily on the Adviser's judgment about markets, interest rates or the attractiveness, relative values, liquidity, or potential appreciation of particular investments made for the Fund's portfolio. The Fund could experience losses if these judgments prove to be incorrect. Additionally, legislative, regulatory, or tax developments may adversely affect management of the Fund and, therefore, the ability of the Fund to achieve its investment objective.

Market Risk. The market values of the Fund's investments, and therefore the value of the Fund's shares, will go up and down, sometimes rapidly or unpredictably. Market risk may affect a single issuer, industry or section of the economy, or it may affect the market as a whole. Individual stock prices tend to go up and down more dramatically than those of certain other types of investments, such as bonds. During a general downturn in the financial markets, multiple asset classes may decline in value. When markets perform well, there can be no assurance that specific investments held by the Fund will rise in value.

Mortgage- and Asset-Backed Securities Risk. Mortgage- and asset-backed securities, including collateralized debt obligations and collateralized mortgage obligations, are subject to prepayment or call risk, which is the risk that a borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. This could result in the Fund reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Mortgage- and asset-backed securities also are subject to extension risk, which is the risk that an unexpected rise in interest rates could reduce the rate of prepayments, causing the price of the mortgage- and asset-backed securities and the Fund's share price to fall. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of mortgage-backed securities and could result in losses to the Fund. The Fund may invest in mortgage pools that include subprime mortgages, which are loans made to borrowers with weakened credit histories or with lower capacity to make timely payments on their mortgages. Privately issued mortgage-related securities are not subject to the same underwriting requirements as those with government or government-sponsored entity guarantee and, therefore, mortgage loans underlying privately issued mortgage-related securities may have less favorable collateral, credit risk or other underwriting characteristics, and wider variances in interest rate, term, size, purpose and borrower characteristics.

Preferred Securities Risk. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. Preferred securities also may be subordinated to bonds or other debt instruments, subjecting them to a greater risk of non-payment, may be less liquid than many other securities, such as common stocks, and generally offer no voting rights with respect to the issuer.

REIT Risk/Real Estate Risk. The Fund concentrates its investments in the securities of real estate and real estate related companies. Investments in real estate related instruments may be affected by economic, legal, cultural, environmental or technological factors that affect property values, rents or occupancies of real estate related to the Fund's holdings. Shares of real estate related companies, which tend to be small- and mid-cap companies, may be more volatile and less liquid than larger companies. If a real estate related company defaults on certain types of debt obligations, the Fund may own real estate directly, which involves additional risks such as environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Short Position Risk. Because the Fund's potential loss on a short position arises from increases in the value of the asset sold short, the Fund will incur a loss on a short position, which is theoretically unlimited, if the price of the asset sold short increases from the short sale price. The counterparty to a short position or other market factors may prevent the Fund from closing out a short position at a desirable time or price and may reduce or eliminate any gain or result in a loss. In a rising market, the Fund's short positions will cause the Fund to underperform the overall market and its peers that do not engage in shorting. If the Fund holds both long and short positions, and both positions decline simultaneously, the short positions will not provide any buffer (hedge) from declines in value of the Fund's long positions. Certain types of short positions involve leverage, which may exaggerate any losses, potentially more than the actual cost of the investment, and will increase the volatility of the Fund's returns.

Small- and Mid-Capitalization Risks. Small- and mid-capitalization companies tend to be more vulnerable to changing market conditions, may have little or no operating history or track record of success, and may have more limited product lines and markets, less experienced management and fewer financial resources than larger companies. These companies' securities may be more volatile and less liquid than those of more established companies, and their returns may vary, sometimes significantly, from the overall securities market.

as of 12/09/2016

ASRAX

NAV Change ($)
$8.78 -0.01
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 12/09/2016

Yield 

  • Distribution Yield
    with Sales Charge 4.65%
  • Distribution Yield
    without Sales Charge 4.92%
  • SEC 30-Day Yield 2.52%
  • Unsub. 30-day yield N/A

Fund Details

  • Distribution Frequency Quarterly
  • NASDAQ ASRAX
  • WSJ Abrev. N/A
  • CUSIP 00141A628
  • Fund Type Alternative
  • Geography Type Global
  • Inception Date 05/31/2002
  • Fiscal Year End 08/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1540
  • Tax ID 36-4494062