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The value of investments and any income will fluctuate (this may partly be the result of exchange-rate fluctuations) and investors may not get back the full amount invested.

The securities that the Invesco Distribution Fund (UK), Invesco Global Bond Fund (UK), Invesco Global Emerging Markets Bond Fund (UK), Invesco Global Financial Capital Fund (UK), Invesco Global Income Fund (UK), Invesco Money Fund (UK), Invesco Monthly Income Plus Fund (UK) and Invesco Tactical Bond Fund (UK) invest in may not always make interest and other payments nor is the solvency of the issuers guaranteed. Market conditions, such as a decrease in market liquidity for the securities in which the funds invest, may mean that the funds may not be able to sell those securities at their true value. These risks increase where the funds invest in high yield or lower credit quality bonds. The funds' performance may be adversely affected by variations in interest rates.

The Invesco Distribution Fund (UK), Invesco Global Bond Fund (UK), Invesco Global Emerging Markets Bond Fund (UK), Invesco Global Financial Capital Fund (UK), Invesco Global Income Fund (UK) and Invesco Monthly Income Plus Fund (UK) have the ability to make use of financial derivatives (complex instruments) which may result in the funds being leveraged and can result in large fluctuations in the value of the funds. Leverage on certain types of transactions including derivatives may impair the funds' liquidity, cause them to liquidate positions at unfavourable times or otherwise cause the funds not to achieve their intended objective. Leverage occurs when the economic exposure created by the use of derivatives is greater than the amount invested resulting in the funds being exposed to a greater loss than the initial investment. The funds may be exposed to counterparty risk should an entity with which the funds do business become insolvent resulting in financial loss.

As one of the key objectives of the Invesco Distribution Fund (UK), Invesco Global Emerging Markets Bond Fund (UK), Invesco Global Financial Capital Fund (UK), Invesco Global Income Fund (UK) and Invesco Monthly Income Plus Fund (UK) is to provide income, the ongoing charge is taken from capital rather than income. This can erode capital and reduce the potential for capital growth.

The Invesco Distribution Fund (UK), Invesco Global Financial Capital Fund (UK), Invesco Global Income Fund (UK), Invesco Monthly Income Plus Fund (UK) and Invesco Tactical Bond Fund (UK) may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events.

The Invesco Global Bond Fund (UK) and Invesco Tactical Bond Fund (UK) have the ability to invest more than 35% of their value in securities issued by a single government or public international body.

The Invesco Global Bond Fund (UK) and Invesco Global Emerging Markets Bond Fund (UK) invest in emerging and developing markets, where there is potential for a decrease in market liquidity, which may mean that it is not easy to buy or sell securities. There may also be difficulties in dealing and settlement, and custody problems could arise.

As the Invesco Tactical Bond Fund (UK) can rapidly change its holdings across the fixed income and debt spectrum and cash, this can increase its risk profile. The fund has the ability to make significant use of financial derivatives (complex instruments) which may result in the fund being leveraged and can result in large fluctuations in the value of the fund. Leverage on certain types of transactions including derivatives may impair the fund’s liquidity, cause it to liquidate positions at unfavourable times or otherwise cause the fund not to achieve its intended objective. Leverage occurs when the economic exposure created by the use of derivatives is greater than the amount invested resulting in the fund being exposed to a greater loss than the initial investment. The fund may be exposed to counterparty risk should an entity with which the fund does business become insolvent resulting in financial loss.

As the Invesco Global Financial Capital Fund (UK) is a theme-based fund, which only invests in fixed interest and other debt securities and shares of banks and other financial institutions, investors should be prepared to accept a higher degree of risk than for a fund that is more widely diversified across different sectors.

Although the Invesco Money Fund (UK) does not actively pursue a concentrated portfolio, it may have a concentrated number of holdings on occasions.  Accordingly, the fund may carry a higher degree of risk than a fund which invests in a broader range of companies or takes smaller positions in a relatively large number of holdings. The Invesco Money Fund (UK) is a standard variable net asset value (“NAV”) money market fund. Investing in the fund is not the same as making a deposit in a bank account, variable NAV means the value of the shares in the fund (the “NAV per share”) can go up and down depending on how the underlying assets of the fund perform. The fund does not rely on any external support for guaranteeing its liquidity or stabilising the NAV per share. Your investment is not guaranteed and you may not get back the full amount invested. Performance can be affected by among other things changes in the creditworthiness of the issuers the fund invests in.  That could, for example, affect whether interest payments are received and/or cause a change in the value of an asset itself. The fund may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the fund. The Manager, however, will ensure that the use of derivatives within the fund does not materially alter the overall risk profile of the fund. The fund makes use of a permission in the regulations which allows it to invest up to 100% of its assets in money market instruments issued or guaranteed by certain organisations. These organisations include amongst others, the central bank and national, regional and local administrations of the United Kingdom; for a full list of the organisations please refer to the Prospectus.

The Invesco Bond Income Plus Limited portfolio has a significant proportion of high-yielding bonds, which are of lower credit quality and may result in large fluctuations in the NAV of the product. The product uses derivatives for efficient portfolio management which may result in increased volatility in the NAV. The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall. The product may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events. As a result of COVID-19, markets have seen a noticeable increase in volatility as well as, in some cases, lower liquidity levels; this may continue and may increase these risks in the future.

Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.

This is marketing material and not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.

For the most up to date information on our ICVC funds, please refer to the relevant fund and share class-specific Key Investor Information Documents, the Supplementary Information Document, the Annual or Interim Reports and the Prospectus, which are available on our website.

For more information on our investment trust products, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports available on our website.