Mutual Funds

Invesco American Value Fund

Equity | US Equity

Objective & Strategy

The fund seeks total return through growth of capital and current income.

Overlooked and Undervalued

A specialized strategy for building wealth and managing volatility. The fund seeks ownership in primarily mid-sized companies that are undervalued and experiencing a positive change.

A familiar team   A familiar process   An unfamiliar asset class
The team draws upon a wealth of knowledge that can only come with time. The team uses the same process to manage Invesco Equity and Income Fund and Invesco Growth and Income Fund and has been managing this fund since 2003.   The team uses a classic approach that seeks to convert business change into investment opportunity — be it new company management, new products or favorable industry trends.   Between the blue-chip giants and the small start-ups there lies a class of companies that is too often overlooked — mid-sized companies.

Mid-sized companies may offer investors additional diversification benefits and return potential.1


Footnote(s)

1 The market movements of stocks of small-cap companies may be more abrupt and volatile than the market movements of stocks of larger, more established companies or the stock market in general, and small-cap companies, in particular, are generally less liquid than stocks of larger companies. Large-cap companies, compared to small and mid-cap companies, tend to have more diversified business models, lower costs of capital and lower price fluctuations. Small- and mid-cap companies often have less predictable earnings, and more limited product lines, markets, distribution channels or financial resources.
Diversification does not guarantee a profit or eliminate the risk of loss.

Style Map

Invesco American Value Fund

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

as of 07/31/2015

Morningstar Rating

Overall Rating - Mid-Cap Value Category

As of 07/31/2015 the Fund had an overall rating of 3 stars out of 430 funds and was rated 2 stars out of 430 funds, 3 stars out of 371 funds and 4 stars out of 248 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 (including the effect of sales charges, loads and redemption fees), 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. ©2015 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings for other share classes may differ due to different performance characteristics.

Management team

as of 07/31/2015

Top Equity Holdings | View all

% of Total Assets
CITRIX SYSTEMS INC 3.31
JOHNSON CONTROLS INC 2.98
OWENS CORNING 2.85
FOREST CITY ENTERPRISES CL A 2.83
CONAGRA INC 2.72
FNF GROUP 2.68
HEALTHSOUTH CORP 2.68
UNIVERSAL HLTH SERVICES B 2.61
CIENA CORP 2.55
STIFEL FINANCIAL CORP 2.45

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

as of 07/31/2015 06/30/2015

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 10/18/1993 N/A 10.12 3.85 8.27 17.78 15.83 9.22
Load 10/18/1993 5.50 9.83 -1.86 2.33 15.57 14.53 8.60
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.

as of 07/31/2015 06/30/2015

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Russell Midcap Value IX -0.14 -0.97 6.64 18.86 16.02 8.37
S&P 500 Reinvested IX 2.10 1.41 11.21 17.58 16.24 7.72
Russell Midcap Value IX -2.56 -1.97 3.67 19.13 17.73 8.89
S&P 500 Reinvested IX -1.94 0.28 7.42 17.31 17.34 7.89

Source: FactSet Research Systems Inc.

Source: FactSet Research Systems Inc.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.68
12b-1 Fee 0.25
Other Expenses 0.27
Interest/Dividend Exp 0.00
Total Other Expenses 0.27
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.09
Total Annual Fund Operating Expenses 1.29
Contractual Waivers/Reimbursements -0.01
Net Expenses - PER PROSPECTUS 1.28
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.28
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
06/18/2015 0.0086 N/A N/A 41.68
12/12/2014 0.0009 0.4590 3.4220 37.66
09/18/2014 0.0079 N/A N/A 42.97
06/19/2014 0.0134 N/A N/A 42.59
03/20/2014 0.0134 N/A N/A 40.42
12/13/2013 0.0134 0.2869 2.4560 37.96
09/19/2013 0.0476 N/A N/A 39.61
06/20/2013 0.0476 N/A N/A 36.15
03/21/2013 0.0476 N/A N/A 35.29
12/07/2012 0.0476 N/A N/A 31.38
09/20/2012 0.0467 N/A N/A 31.33
06/14/2012 0.0210 N/A N/A 29.05
03/15/2012 0.0210 N/A N/A 30.79
12/09/2011 0.0210 N/A N/A 26.74
09/15/2011 0.0210 N/A N/A 25.09
06/16/2011 0.0210 N/A N/A 27.93
03/17/2011 0.0184 N/A N/A 28.10
12/03/2010 0.0184 N/A N/A 26.35
09/16/2010 0.0004 N/A N/A 23.66
06/09/2010 0.0092 N/A N/A 22.62
03/10/2010 0.0350 N/A N/A 23.78
12/11/2007 0.0350 3.0622 2.2733 28.19
09/12/2007 0.0350 N/A N/A 33.32
06/13/2007 0.0350 N/A N/A 34.56
12/13/2006 0.0677 0.0000 1.5884 31.06
12/13/2000 N/A 1.5838 N/A 18.94
as of 07/31/2015

Sector Breakdown

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 07/31/2015

Asset Mix

as of 07/31/2015

Fund Characteristics

3-Year Alpha 0.36%
3-Year Beta 0.93
3-Year R-Squared 0.84
3-Year Sharpe Ratio 1.89
3-Year Standard Deviation 9.37
Number of Securities 51
Total Assets $2,309,473,917.00
Wghtd Med Mkt Cap MM$ $8,279.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Russell Midcap Value IX

as of 07/31/2015

Top Equity Holdings | View all

% of Total Assets
CITRIX SYSTEMS INC 3.31
JOHNSON CONTROLS INC 2.98
OWENS CORNING 2.85
FOREST CITY ENTERPRISES CL A 2.83
CONAGRA INC 2.72
FNF GROUP 2.68
HEALTHSOUTH CORP 2.68
UNIVERSAL HLTH SERVICES B 2.61
CIENA CORP 2.55
STIFEL FINANCIAL CORP 2.45

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

as of 07/31/2015

Top Industries

  % of Total Assets
Health Care Facilities 7.15
Regional Banks 6.15
Application Software 5.35
Building Products 5.11
Insurance Brokers 5.07
Auto Parts & Equipment 4.80
Industrial Machinery 3.93
Oil & Gas Equipment & Services 3.90
Property & Casualty Insurance 3.68
Real Estate Operating Companies 2.83

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.

 About risk

Depositary Receipts Risk. Depositary receipts involve many of the same risks as those associated with direct investment in foreign securities. In addition, the underlying issuers of certain depositary receipts, particularly unsponsored or unregistered depositary receipts, are under no obligation to distribute shareholder communications to the holders of such receipts or to pass through to them any voting rights with respect to the deposited securities.

Derivatives Risk. The performance of derivative instruments is tied to the performance of an underlying currency, security, index, commodity or other instrument. In addition to risks relating to their underlying instruments, the use of derivatives may include other, possibly greater, risks. Derivatives involve costs, may be volatile, and may involve a small initial investment relative to the risk assumed. Risks associated with the use of derivatives may include counterparty, leverage, correlation, liquidity, tax, market, interest rate and management risks. Derivatives may also be more difficult to purchase, sell or value than other investments. The Fund may lose more than the cash amount invested on investments in derivatives. Investors should bear in mind that, while the Fund intends to use derivative strategies, it is not obligated to actively engage in these transactions, generally or in any particular kind of derivative, if the Adviser elects not to do so due to availability, cost, market conditions or other factors.

Foreign Securities Risk. The Fund's foreign investments may be affected by changes in a foreign country's exchange rates, political and social instability, changes in economic or taxation policies, difficulties when enforcing obligations, decreased liquidity, and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.

Management Risk. The investment techniques and risk analysis used by the Fund's portfolio managers may not produce the desired results.

Market Risk. The prices of and the income generated by the Fund's securities may decline in response to, among other things, investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations.

REIT Risk/Real Estate Risk. 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. Real estate companies, including REITs or similar structures, tend to be small- and mid-cap companies, and their shares may be more volatile and less liquid. The value of investments in real estate related companies may be affected by the quality of management, the ability to repay loans, the utilization of leverage and financial covenants related thereto, whether the company carries adequate insurance and environmental factors. If a real estate related company defaults, the Fund may own real estate directly, which involves the following additional risks: environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Small- and Mid-Capitalization Risks. Stocks of small- and mid-sized companies tend to be more vulnerable to adverse developments in the above factors and may have little or no operating history or track record of success, and limited product lines, markets, management and financial resources. The securities of small- and mid-sized companies may be more volatile due to less market interest and less publicly available information about the issuer. They also may be illiquid or restricted as to resale, or may trade less frequently and in smaller volumes, all of which may cause difficulty when establishing or closing a position at a desirable price.

Value Investing Style Risk. The Fund emphasizes a value style of investing, which focuses on undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on value equity securities are less than returns on other styles of investing or the overall stock market. Value stocks also may decline in price, even though in theory they are already underpriced.

as of 09/02/2015

MSAVX

NAV Change ($)
$37.39 0.53
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 09/02/2015

Yield 

  • Distribution Yield
    with Sales Charge N/A
  • Distribution Yield
    without Sales Charge N/A
  • SEC 30-Day Yield 0.08%
  • Unsub. 30-Day Yield 0.07%

Fund Details

  • Distribution Frequency Annually
  • NASDAQ MSAVX
  • WSJ Abrev. AmValA
  • CUSIP 00143M844
  • Fund Type Equity
  • Geography Type N/A
  • Inception Date 10/18/1993
  • Fiscal Year End 04/30
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1734
  • Tax ID 13-3709508

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