Mutual Funds

Invesco Macro Long/Short Fund

Alternatives | Long/Short Equity

Objective & Strategy

The fund seeks a positive absolute return over a complete economic and market cycle.

as of 06/30/2015

Morningstar Rating

Overall Rating - Long/Short Equity Category

As of 06/30/2015 the Fund had an overall rating of N/A stars out of N/A funds and was rated N/A stars out of N/A funds, N/A stars out of N/A 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 (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 06/30/2015

Top Equity Holdings | View all

% of Total Assets
BG GROUP PLC 0.29
LLOYDS TSB GROUP 0.26
CENTRICA PLC 0.25
NEXT PLC 0.25
BARCLAYS PLC 0.25
VODAFONE GROUP PLC 0.25
EXPERIAN PLC 0.25
SKY PLC 0.24
MARKS & SPENCER GROUP 0.24
SSE PLC 0.24

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

as of 06/30/2015 06/30/2015

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 12/17/2013 N/A 0.24 0.71 -2.65 N/A N/A N/A
Load 12/17/2013 5.50 -3.38 -4.79 -8.01 N/A N/A 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.

as of 06/30/2015 06/30/2015

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Barclays US Treasury Bellwethers (3M) Index 0.00 0.01 0.03 0.08 0.10 1.46
MSCI AC World IX ND -2.35 0.35 0.71 13.01 11.93 6.41
Barclays US Treasury Bellwethers (3M) Index 0.00 0.01 0.03 0.08 0.10 1.46
MSCI AC World IX ND -2.35 0.35 0.71 13.01 11.93 6.41

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 1.25
12b-1 Fee 0.25
Other Expenses 4.32
Interest/Dividend Exp 0.00
Total Other Expenses 4.32
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.03
Total Annual Fund Operating Expenses 5.85
Contractual Waivers/Reimbursements -3.97
Net Expenses - PER PROSPECTUS 1.88
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.88
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
12/12/2014 0.1042 N/A N/A 9.73
as of 06/30/2015

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 06/30/2015

Fund Characteristics

3-Year Alpha N/A
3-Year Beta N/A
3-Year R-Squared N/A
Number of Securities 1,192
Total Assets $14,029,571.00
Wghtd Med Mkt Cap MM$ $13,016.00

Source: FactSet Research Systems Inc., StyleADVISOR

as of 06/30/2015

Top Equity Holdings | View all

% of Total Assets
BG GROUP PLC 0.29
LLOYDS TSB GROUP 0.26
CENTRICA PLC 0.25
NEXT PLC 0.25
BARCLAYS PLC 0.25
VODAFONE GROUP PLC 0.25
EXPERIAN PLC 0.25
SKY PLC 0.24
MARKS & SPENCER GROUP 0.24
SSE PLC 0.24

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

 About risk

Cash/Cash Equivalents Risk. Holding cash or cash equivalents may negatively affect performance.

Currency/Exchange Rate Risk. The dollar value of the Fund's foreign investments will be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded.

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 strategy.

Developing/Emerging Markets Securities Risk. The prices of securities issued by foreign companies and governments located in developing/emerging markets countries may be affected more negatively by inflation, devaluation of their currencies, higher transaction costs, delays in settlement, adverse political developments, the introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, war or lack of timely information than those in developed countries.

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. The portfolio managers' use of instruments that provide economic leverage increases the volatility of the Fund's net asset value, which increases the potential of greater losses that may cause the Fund to liquidate positions when it may not be advantageous to do so. In addition, the Fund will likely underperform the broader equity markets in which the Fund invests during market rallies when the Fund's equity exposure is less than 100% of the Fund's assets. Such underperformance could be significant during sudden or significant market rallies.

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.

Short Sales Risk. Short sales may cause the Fund to repurchase a security at a higher price, thereby causing the Fund to incur a loss. A short position in a security poses more risk than holding the same security long. As there is no limit on how much the price of the security can increase, the Fund's exposure is unlimited. In order to establish a short position in a security, the Fund must borrow the security from a broker. The Fund may not always be able to borrow a security the Fund seeks to sell short at a particular time or at an acceptable price. The Fund also may not always be able to close out the short position by replacing the borrowed securities at a particular time or at an acceptable price. The Fund will incur increased transaction costs associated with selling securities short. In addition, taking short positions in securities results in a form of leverage which may cause the Fund to be volatile.

Small- and Mid-Capitalization Risks. Stocks of small- and mid-sized companies tend to be more vulnerable to adverse developments 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.

Volatility Risk. The Fund may have investments that appreciate or decrease significantly in value over short periods of time. This may cause the Fund's net asset value per share to experience significant increases or declines in value over short periods of time.

as of 07/31/2015

LSTAX

NAV Change ($)
$9.97 0.04
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.

Fund Details

  • Distribution Frequency Annually
  • NASDAQ LSTAX
  • WSJ Abrev. N/A
  • CUSIP 00888Y664
  • Fund Type Alternative
  • Geography Type Global
  • Inception Date 12/17/2013
  • Fiscal Year End 10/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1655
  • Tax ID 46-3912532

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