Mutual Funds

Invesco Multi-Asset Income Fund

Balanced | Global Balanced

Objective & Strategy

The fund’s investment objective is to provide current income. The fund seeks to achieve its investment objective by actively allocating assets across multiple income producing asset classes and strategies.

as of 07/31/2017

Morningstar Rating

Overall Rating - Multisector Bond Category

As of 07/31/2017 the Fund had an overall rating of 5 stars out of 241 funds and was rated 5 stars out of 241 funds, 5 stars out of 191 funds and N/A stars out of N/A 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. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2017 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. 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 07/31/2017

Top Equity Holdings | View all

% of Total Assets

May not equal 100% due to rounding.

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

as of 07/31/2017 06/30/2017

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 12/14/2011 N/A 7.08 8.22 7.13 7.03 5.81 N/A
Load 12/14/2011 5.50 6.02 2.25 1.20 5.04 4.62 N/A
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.

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

as of 07/31/2017 06/30/2017

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Custom Invesco Multi-Asset Income Index 1.28 2.67 8.15 7.14 8.70 6.56
Bloomberg Barclays US Aggregate 0.43 1.10 -0.51 2.71 2.02 4.44
Custom Invesco Multi-Asset Income Index 0.28 2.33 9.19 6.39 8.74 6.28
Bloomberg Barclays US Aggregate -0.10 1.45 -0.31 2.48 2.21 4.48

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 0.50
12b-1 Fee 0.25
Other Expenses 0.38
Interest/Dividend Exp 0.00
Total Other Expenses 0.38
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.01
Total Annual Fund Operating Expenses 1.14
Contractual Waivers/Reimbursements -0.29
Net Expenses - PER PROSPECTUS 0.85
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.85
This information is updated per the most recent prospectus.

Historical Prices

From   to
No history records found for this date range


From   to
    Capital Gains Reinvestment
Price ($)
Ex-Date Income Short Term Long Term
08/17/2017 0.0399 N/A N/A 10.90
07/20/2017 0.0399 N/A N/A 11.01
06/15/2017 0.0399 N/A N/A 11.00
05/18/2017 0.0399 N/A N/A 10.83
04/20/2017 0.0399 N/A N/A 10.82
03/16/2017 0.0399 N/A N/A 10.62
02/16/2017 0.0399 N/A N/A 10.71
01/19/2017 0.0399 N/A N/A 10.54
12/13/2016 0.0518 N/A N/A 10.37
11/17/2016 0.0399 N/A N/A 10.24
10/20/2016 0.0398 N/A N/A 10.64
09/15/2016 0.0398 N/A N/A 10.56
08/18/2016 0.0398 N/A N/A 10.81
07/21/2016 0.0398 N/A N/A 10.70
06/16/2016 0.0399 N/A N/A 10.20
05/19/2016 0.0399 N/A N/A 10.02
04/21/2016 0.0399 N/A N/A 10.07
03/17/2016 0.0400 N/A N/A 9.81
02/18/2016 0.0400 N/A N/A 9.51
01/21/2016 0.0399 N/A N/A 9.21
12/11/2015 0.0589 N/A N/A 9.62
11/19/2015 0.0399 N/A N/A 9.93
10/15/2015 0.0399 N/A N/A 10.03
09/17/2015 0.0399 N/A N/A 9.94
08/20/2015 0.0399 N/A N/A 10.10
07/16/2015 0.0399 N/A N/A 10.23
06/18/2015 0.0399 N/A N/A 10.22
05/21/2015 0.0399 N/A N/A 10.44
04/16/2015 0.0399 N/A N/A 10.55
03/19/2015 0.0399 N/A N/A 10.40
02/19/2015 0.0399 N/A N/A 10.37
01/22/2015 0.0399 N/A N/A 10.31
12/12/2014 0.0454 N/A N/A 10.12
11/20/2014 0.0423 N/A N/A 10.29
10/16/2014 0.0423 N/A N/A 10.25
09/18/2014 0.0423 N/A N/A 10.30
08/21/2014 0.0423 N/A N/A 10.47
07/17/2014 0.0423 N/A N/A 10.43
06/19/2014 0.0423 N/A N/A 10.40
05/15/2014 0.0423 N/A N/A 10.35
04/17/2014 0.0424 N/A N/A 10.17
03/20/2014 0.0424 N/A N/A 10.06
02/20/2014 0.0445 N/A N/A 10.01
01/16/2014 0.0445 N/A N/A 10.01
12/13/2013 0.0445 N/A N/A 9.84
11/21/2013 0.0445 N/A N/A 9.88
10/17/2013 0.0445 N/A N/A 9.91
09/19/2013 0.0446 N/A N/A 9.78
08/15/2013 0.0445 N/A N/A 9.71
07/18/2013 0.0445 N/A N/A 10.03
06/20/2013 0.0444 N/A N/A 9.97
05/16/2013 0.0443 N/A N/A 10.78
04/18/2013 0.0443 N/A N/A 10.84
03/21/2013 0.0444 N/A N/A 10.60
02/21/2013 0.0488 N/A N/A 10.55
01/17/2013 0.0488 N/A N/A 10.68
12/07/2012 0.0487 0.1153 0.0407 10.71
11/15/2012 0.0487 N/A N/A 10.81
10/18/2012 0.0487 N/A N/A 10.77
09/20/2012 0.0487 N/A N/A 10.74
08/16/2012 0.0487 N/A N/A 10.58
07/19/2012 0.0487 N/A N/A 10.75
06/14/2012 0.0488 N/A N/A 10.42
05/17/2012 0.0488 N/A N/A 10.36
04/19/2012 0.0503 N/A N/A 10.22
03/15/2012 0.0503 N/A N/A 10.08
02/16/2012 0.0503 N/A N/A 10.22
as of 07/31/2017

Fund Characteristics

3-Year Alpha 1.03%
3-Year Beta 0.84
3-Year R-Squared 0.62
3-Year Sharpe Ratio 1.18
3-Year Standard Deviation 5.72
Number of Securities 709
Total Assets $505,050,188.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Custom Invesco Multi-Asset Income Index

as of 07/31/2017

Top Equity Holdings | View all

% of Total Assets

May not equal 100% due to rounding.

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

as of 07/31/2017

Top Industries

  % of Total Assets
Mortgage REITs 8.42
Diversified Banks 7.62
Cable & Satellite 2.48
Regional Banks 2.23
Integrated Telecommunication Services 2.09
Specialized REITs 2.08
Investment Banking & Brokerage 1.91
Oil & Gas Exploration & Production 1.76
Hotel & Resort REITs 1.69
Electric Utilities 1.61

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.

 About risk

Active Trading Risk. Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Bank Loan Risk. There are a number of risks associated with an investment in bank loans including credit risk, interest rate risk, liquidity risk and prepayment risk. Lack of an active trading market, restrictions on resale, irregular trading activity, wide bid/ask spreads and extended trade settlement periods may impair the Fund's ability to sell bank loans within its desired time frame or at an acceptable price and its ability to accurately value existing and prospective investments. Extended trade settlement periods may result in cash not being immediately available to the Fund. As a result, the Fund may have to sell other investments or engage in borrowing transactions to raise cash to meet its obligations. The risk of holding bank loans is also directly tied to the risk of insolvency or bankruptcy of the issuing banks. These risks could cause the Fund to lose income or principal on a particular investment, which in turn could affect the Fund's returns. The value of bank loans can be affected by and sensitive to changes in government regulation and to economic downturns in the United States and abroad. Bank loans generally are floating rate loans, which are subject to interest rate risk as the interest paid on the floating rate loans adjusts periodically based on changes in widely accepted reference rates.

Changing Fixed Income Market Conditions Risk. The current 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. Increases 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.

Commodities Tax Risk. The tax treatment of commodity-linked derivative instruments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain commodity-linked derivatives was treated as non-qualifying income, the Fund might fail to qualify as a regulated investment company and be subject to federal income tax at the Fund level. Should the Internal Revenue Service issue guidance, or Congress enact legislation, that adversely affects the tax treatment of the Fund's use of the Subsidiary (which guidance might be applied to the Fund retroactively), it could, among other consequences, limit the Fund's ability to pursue its investment strategy.

Commodity Risk. The Fund may have investment exposure to the commodities markets and/or a particular sector of the commodities markets, which may subject the Fund to greater volatility than investments in traditional securities, such as stocks and bonds. Volatility in the commodities markets may be caused by changes in overall market movements, domestic and foreign political and economic events and policies, war, acts of terrorism, changes in domestic or foreign interest rates and/or investor expectations concerning interest rates, domestic and foreign inflation rates, investment and trading activities of mutual funds, hedge funds and commodities funds, and factors such as drought, floods, weather, livestock disease, embargoes, tariffs and other regulatory developments or supply and demand disruptions. Because the Fund's performance may be linked to the performance of volatile commodities, investors should be willing to assume the risks of potentially significant fluctuations in the value of the Fund's shares.

Credit Linked Notes Risk. Risks of credit linked notes include those risks associated with the underlying reference obligation including but not limited to market risk, interest rate risk, credit risk, default risk and, in some cases, foreign currency risk. An investor in a credit linked note bears counterparty risk or the risk that the issuer of the credit linked note will default or become bankrupt and not make timely payment of principal and interest of the structured security. Credit linked notes may be less liquid than other investments and therefore harder to dispose of at the desired time and price. In addition, credit linked notes may be leveraged and, as a result, small changes in the value of the underlying reference obligation may produce disproportionate losses to the Fund.

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.

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. These risks are greater for the Fund than mutual funds that do not use derivative instruments or that use derivative instruments to a lesser extent than the Fund to implement their investment strategies.

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, 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.

Exchange-Traded Funds Risk. In addition to the risks associated with the underlying assets held by the exchange-traded fund, investments in exchange-traded funds are subject to the following additional risks: (1) an exchange-traded fund's shares may trade above or below its net asset value; (2) an active trading market for the exchange-traded fund's shares may not develop or be maintained; (3) trading an exchange-traded fund's shares may be halted by the listing exchange; (4) a passively managed exchange-traded fund may not track the performance of the reference asset; and (5) a passively managed exchange-traded fund may hold troubled securities. Investment in exchange-traded funds may involve duplication of management fees and certain other expenses, as the Fund indirectly bears its proportionate share of any expenses paid by the exchange-traded funds in which it invests. Further, certain exchange-traded funds in which the Fund may invest are leveraged, which may result in economic leverage, permitting the Fund to gain exposure that is greater than would be the case in an unlevered instrument and potentially resulting in greater volatility.

Foreign Currency Tax Risk. If the U.S. Treasury Department were to exercise its authority to issue regulations that exclude from the definition of "qualifying income" foreign currency gains not directly related to the Fund's business of investing in securities, the Fund may be unable to qualify as a regulated investment company for one or more years. In this event, the Fund's Board of Trustees may authorize a significant change in investment strategy or other action.

Foreign Government Debt Risk. Investments in foreign government debt securities (sometimes referred to as sovereign debt securities) involve certain risks in addition to those relating to foreign securities or debt securities generally. The issuer of the debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due in accordance with the terms of such debt, and the Fund may have limited recourse in the event of a default against the defaulting government. Without the approval of debt holders, some governmental debtors have in the past been able to reschedule or restructure their debt payments or declare moratoria on payments.

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.

Investment Companies Risk. Investing in other investment companies could result in the duplication of certain fees, including management and administrative fees, and may expose the Fund to the risks of owning the underlying investments that the other investment company holds.

Liquidity Risk. The Fund may be unable to sell illiquid investments at the time or price it desires and, as a result, could lose its entire investment in such investments. Liquid securities can become illiquid during periods of market stress. If a significant amount of the Fund's securities become illiquid, the Fund may not be able to timely pay redemption proceeds and may need to sell securities at significantly reduced prices.

Management Risk. The Fund is actively managed and depends heavily on the Adviser's and/or sub-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. Because the Fund's investment process relies heavily on its asset allocation process, market movements that are counter to the portfolio managers' expectations may have a significant adverse effect on the Fund's net asset value. In addition, the Fund is subject to the risk that the investment decisions made by the Adviser or a sub-adviser may conflict with other decisions made by the Adviser or the same or a different sub-adviser. For example, it is possible that the Adviser may purchase a security for the Fund at the same time that a sub-adviser sells the same security, resulting in higher expenses without accomplishing any net investment result and, possibly, resulting in a wash sale for tax purposes, which would defer the ability of the Fund to utilize any realized loss. Conflicting investment decisions made by the Adviser, a sub-adviser or some combination thereof (including decisions made by different teams in the Adviser or the same sub-adviser) also could subject the Fund to other special tax rules that may, for example, defer or disallow the ability of the Fund to utilize realized losses. Additionally, legislative, regulatory, or tax developments may affect the investments or investment strategies available to the portfolio managers in connection with managing the Fund, which may also adversely affect 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.

MLP Risk. The Fund invests in securities of MLPs, which are subject to the following risks:
  • Limited Partner Risk. An MLP is a public limited partnership or limited liability company taxed as a partnership under the Code. Although the characteristics of MLPs closely resemble a traditional limited partnership, a major difference is that MLPs may trade on a public exchange or in the over-the-counter market. The risks of investing in an MLP are similar to those of investing in a partnership, including more flexible governance structures, which could result in less protection for investors than investments in a corporation. Investors in an MLP normally would not be liable for the debts of the MLP beyond the amount that the investor has contributed but investors may not be shielded to the same extent that a shareholder of a corporation would be. In certain circumstances, creditors of an MLP would have the right to seek return of capital distributed to a limited partner, which right would continue after an investor sold its investment in the MLP.
  • Liquidity Risk. The ability to trade on a public exchange or in the over-the-counter market provides a certain amount of liquidity not found in many limited partnership investments. However, MLP interests may be less liquid than conventional publicly traded securities and, therefore, more difficult to trade at desirable times and/or prices.
  • Interest Rate Risk. In addition, MLP distributions may be reduced by fees and other expenses incurred by the MLP. MLPs generally are considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns.
  • General Partner Risk. The holder of the general partner or managing member interest can be liable in certain circumstances for amounts greater than the amount of the holder's investment in the general partner or managing member. Additionally, if the Fund were to invest more than 25% of its total assets in MLPs that are taxed as partnerships this could cause the Fund to lose its status as regulated investment company under Subchapter M of the Internal Revenue Code.
MLP Tax Risk. MLPs taxed as partnerships do not pay U.S. federal income tax at the partnership level. A change in current tax law, or a change in the underlying business mix of a given MLP, however, could result in an MLP being classified as a corporation for U.S. federal income tax purposes, which would have the effect of reducing the amount of cash available for distribution by the MLP and, as a result, could cause a reduction of the value of the Fund's investment, and consequently your investment in the Fund and lower income. Each year, the Fund will send you an annual tax statement (Form 1099) to assist you in completing your federal, state and local tax returns. If an MLP in which the Fund invests amends its partnership tax return, the Fund will, when necessary, send you a corrected Form 1099, which could, in turn, require you to amend your federal, state or local tax returns.

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.

Non-Correlation Risk. The return of the Fund's preferred equity segment may not match the return of the underlying index for a number of reasons. For example, the Fund incurs operating expenses not applicable to the index, and incurs costs in buying and selling securities, especially when rebalancing securities holdings to reflect changes in the index. In addition, the performance of the preferred equity segment and the underlying index may vary due to asset valuation differences and differences between the preferred equity segment and the index resulting from legal restrictions, costs or liquidity constraints.

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. 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.

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.

Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to risks associated with the Subsidiary's investments. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (1940 Act), and, except as otherwise noted in this prospectus, is not subject to the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and the SAI, and could negatively affect the Fund and its shareholders.

U.S. Government Obligations Risk. Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect the Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

as of 08/21/2017


NAV Change ($)
$10.88 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 08/21/2017


  • Distribution Yield
    with Sales Charge 4.16%
  • Distribution Yield
    without Sales Charge 4.40%
  • SEC 30-Day Yield 4.46%
  • Unsub. 30-day yield 4.17%

Fund Details

  • Distribution Frequency Monthly
  • WSJ Abrev. N/A
  • CUSIP 00888Y805
  • Fund Type Balanced
  • Geography Type Global
  • Inception Date 12/14/2011
  • Fiscal Year End 10/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1644
  • Tax ID 45-3718546