Mutual Funds

Invesco Global Infrastructure Fund

Alternatives | Infrastructure

Objective & Strategy

The Fund’s investment objective is total return through growth of capital and current income. Actively managed liquid alternative strategy that uses a top-down and bottom-up investment process to identify high quality infrastructure companies around the world trading at attractive relative values.

Style Map

Invesco Global Infrastructure Fund

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

as of 02/28/2015

Morningstar Rating

Overall Rating - World Stock Category

As of 02/28/2015 the Fund had an overall rating of N/A stars out of 897 funds and was rated N/A stars out of 897 funds, N/A stars out of 695 funds and N/A stars out of 352 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 02/28/2015

Top Equity Holdings | View all

% of Total Assets
KINDER MORGAN INC 9.46
NATIONAL GRID PLC 6.32
ENBRIDGE INC 6.18
AMERICAN TOWER CORP CL A 4.76
WILLIAMS COMPANIES INC 4.49
SEMPRA ENERGY 3.57
CROWN CASTLE INTERNATIONAL CORP 3.52
ENERGY TRANSFER EQUITY LP 2.77
ITC HOLDINGS CORP 2.60
TRANSCANADA CORP 2.48

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

as of 02/28/2015 12/31/2014

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 05/02/2014 N/A 5.53 -0.29 N/A N/A N/A N/A
Load 05/02/2014 5.50 -0.26 -5.81 N/A 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 02/28/2015 12/31/2014

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Dow Jones Brookfield Global Infrastructure Index -0.09 -1.19 11.57 14.07 15.59 11.33
MSCI World IX ND 5.86 2.26 7.87 13.26 11.69 6.35
Dow Jones Brookfield Global Infrastructure Index -0.52 1.44 16.34 16.08 14.88 11.67
MSCI World IX ND -1.61 1.01 4.94 15.47 10.20 6.03

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 0.84
12b-1 Fee 0.25
Other Expenses 7.51
Interest/Dividend Exp 0.00
Total Other Expenses 7.51
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.01
Total Annual Fund Operating Expenses 8.61
Contractual Waivers/Reimbursements -7.21
Net Expenses - PER PROSPECTUS 1.40
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.40
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
03/19/2015 0.0385 N/A N/A 10.23
12/12/2014 0.1060 0.0112 N/A 10.00
09/18/2014 0.0521 N/A N/A 10.72
as of 02/28/2015

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 02/28/2015

Asset Mix

as of 02/28/2015

Fund Characteristics

3-Year Alpha N/A
3-Year Beta N/A
3-Year R-Squared N/A
Number of Securities 56
Total Assets $5,831,128.00
Wghtd Med Mkt Cap MM$ $23,728.00

Source: FactSet Research Systems Inc., StyleADVISOR

as of 02/28/2015

Top Equity Holdings | View all

% of Total Assets
KINDER MORGAN INC 9.46
NATIONAL GRID PLC 6.32
ENBRIDGE INC 6.18
AMERICAN TOWER CORP CL A 4.76
WILLIAMS COMPANIES INC 4.49
SEMPRA ENERGY 3.57
CROWN CASTLE INTERNATIONAL CORP 3.52
ENERGY TRANSFER EQUITY LP 2.77
ITC HOLDINGS CORP 2.60
TRANSCANADA CORP 2.48

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

as of 02/28/2015

Top Industries

  % of Total Assets
Oil & Gas Storage & Transportation 31.97
Multi-Utilities 15.84
Electric Utilities 9.49
Specialized REITs 8.28
Gas Utilities 8.06
Highways & Railtracks 5.76
Water Utilities 4.96
Airport Services 3.17
Cable & Satellite 3.03
Wireless Telecommunication Services 2.11

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 02/28/2015

Top Countries

  % of Total Assets
United States 50.56
Canada 11.97
United Kingdom 9.10
Spain 4.89
Australia 3.69
Hong Kong 3.46
Japan 2.30
Luxembourg 2.22
Italy 2.22
France 2.15

 About risk

Credit Risk. The issuer of instruments in which the Fund invests may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.

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.

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 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. The prices of securities issued by foreign companies and governments located in 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.

Energy Sector Risk. Certain of the businesses in which the Fund invests may be adversely affected by foreign, federal or state regulations governing energy production, distribution and sale as well as supply-and-demand for energy resources. Although individual security selection drives the performance of the Fund, short-term fluctuations in energy prices may cause price fluctuations in its shares.

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.

Geographic Focus Risk. From time to time the Fund may invest a substantial amount of its assets in securities of issuers located in a single country or a limited number of countries. If the Fund focuses its investments in this manner, it assumes the risk that economic, political and social conditions in those countries will have a significant impact on its investment performance.

High Yield Bond (Junk Bond) Risk. Junk bonds involve a greater risk of default or price changes due to changes in the credit quality of the issuer. The values of junk bonds fluctuate more than those of high-quality bonds in response to company, political, regulatory or economic developments. Values of junk bonds can decline significantly over short periods of time.

Infrastructure-Related Companies Risk. The Fund will concentrate its investments in the infrastructure industry. Infrastructure-related companies are subject to a variety of factors that may adversely affect their business or operations, including costs associated with environmental, governmental and other regulations, high interest costs in connection with capital construction programs, high leverage, the effects of economic slowdown, surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies, unfavorable tax laws or accounting policies, and other factors. Infrastructure-related companies are also affected by environmental damage due to a company's operations or an accident, difficulty in raising capital in adequate amounts on reasonable terms in periods of high inflation and unsettled capital markets, increased susceptibility to terrorist acts or political actions, and general changes in market sentiment towards infrastructure assets.

Interest Rate Risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics, including duration.

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.

MLP Risk. An MLP is a public limited partnership or limited liability company. 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 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 and subject to more abrupt or erratic price movements than conventional publicly traded securities. The risks of investing in an MLP are similar to those of investing in a partnership and include more flexible governance structures, which could result in less protection for investors than investments in a corporation. Investors in an MLP would normally 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. MLPs are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. MLPs that concentrate in a particular industry or a particular geographic region are subject to risks associated with such industry or region. 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 Code.

MLP Tax Risk. MLPs taxed as partnerships do not pay U.S. federal income tax at the partnership level. Rather, each partner is allocated a share of the partnership's income, gains, losses, deductions and expenses. A change in current tax law, or a change in the underlying business mix of a given MLP, could result in an MLP being treated as a corporation for U.S. federal income tax purposes, which would result in such MLP being required to pay U.S. federal income tax on its taxable income. The classification of an MLP as a corporation for U.S. federal income tax purposes would have the effect of reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs owned by the Fund were treated as a corporation for U.S. federal income tax purposes, it could result in a reduction of the value of the Fund's investment, and consequently your investment in the Fund and lower income. MLPs taxed as partnerships file a partnership tax return for U.S. federal, state and local income tax purposes and communicate to each investor in such MLP the investor's allocable share of the MLP's income, gains, losses, deductions and expenses via a "Schedule K-1." 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. An MLP might need to amend its partnership tax return and, in turn, send amended Schedules K-1 to investors in the MLP, such as the Fund. When necessary, the Fund will send you a corrected Form 1099 to reflect Schedule K-1 information reclassified by an MLP, which could, in turn, require you to amend your federal, state or local tax returns.

Non-Diversification Risk. The Fund is non-diversified and can invest a greater portion of its assets in a small number of issuers or a single issuer. A change in the value of the issuer could affect the value of the Fund more than if it was a diversified fund.

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.

as of 03/27/2015

GIZAX

NAV Change ($)
$10.33 0.06
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 03/27/2015

Yield 

  • Distribution Yield
    with Sales Charge 1.41%
  • Distribution Yield
    without Sales Charge 1.49%
  • SEC 30-Day Yield 1.52%
  • Unsub. 30-Day Yield -5.69%

Fund Details

  • Distribution Frequency Quarterly
  • NASDAQ GIZAX
  • WSJ Abrev. N/A
  • CUSIP 00888Y268
  • Fund Type Alternative
  • Geography Type Global
  • Inception Date 05/02/2014
  • Fiscal Year End 10/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1658
  • Tax ID 46-4808222

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