Invesco Charter Fund

Equity | US Equity

Objective & Strategy

The fund seeks long-term growth of capital by focusing on growth/value anomalies – companies with above-average growth prospects that are trading at below-average valuations. The fund may act as a conservative cornerstone within a diversified portfolio.

A Conservative Cornerstone

A diversified strategy that seeks strong upside participation with stronger downside protection over a full market cycle. The fund is a conservative cornerstone that may serve as a foundation in a well-diversified portfolio.

Paring risk to help create wealth

The investment team focuses on companies with above-average growth prospects that are managed by good stewards of capital and trading at attractive valuations.

The team seeks to reduce downside risk, which is crucial for long-term wealth creation.

Diversification beyond style boxes

A lower-risk, conservative foundation in an equity allocation can complement more aggressive, higher-risk managers.

This approach goes beyond traditional style boxes, providing diversification across market cycles.

Attractive results

The management team seeks to provide investors with solid upside participation coupled with better downside protection.

This strategy aims to add value with less risk versus its benchmark index over full market cycles.1


1 Full market cycles are defined as market high to market high or market low to market low.

as of 10/31/2019

Morningstar Rating

Overall Rating - Large Blend Category

As of 10/31/2019 the Fund had an overall rating of 1 stars out of 1,198 funds and was rated 1 stars out of 1,198 funds, 1 stars out of 1,058 funds and 1 stars out of 801 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. ©2019 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 10/31/2019

Top Equity Holdings | View all

  % of Total Assets
JPMorgan Chase 4.84
Procter & Gamble 3.90
Facebook 'A' 3.70
Amazon 3.67
UnitedHealth 3.66
Berkshire Hathaway 'B' 3.24
Merck 3.19
Lockheed Martin 2.98
Capital One Financial 2.60

May not equal 100% due to rounding.

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

as of 10/31/2019 09/30/2019

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 11/26/1968 N/A 10.44 21.35 12.96 8.73 5.34 8.74
Load 11/26/1968 5.50 10.32 14.70 6.75 6.69 4.16 8.12
NAV 11/26/1968 N/A 10.42 19.44 2.63 7.32 5.00 8.39
Load 11/26/1968 5.50 10.30 12.90 -2.99 5.32 3.81 7.77
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.

Performance includes litigation proceeds. Had these proceeds not been received, total return would have been lower.

Class A share performance reflects any applicable fee waivers or expense reimbursements.

as of 10/31/2019 09/30/2019

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Russell 1000 IX Tr 2.12 1.99 14.15 14.73 10.55 13.72
S&P 500 Reinvested IX 2.17 2.43 14.33 14.91 10.78 13.70
Russell 1000 IX Tr 1.73 1.42 3.87 13.19 10.62 13.23
S&P 500 Reinvested IX 1.87 1.70 4.25 13.39 10.84 13.24

Source: RIMES Technologies Corp..

Source: RIMES Technologies Corp.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.62
12b-1 Fee 0.25
Other Expenses 0.21
Interest/Dividend Exp 0.00
Total Other Expenses 0.21
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.01
Total Annual Fund Operating Expenses 1.09
Contractual Waivers/Reimbursements -0.01
Net Expenses - PER PROSPECTUS 1.08
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.08
This information is updated per the most recent prospectus.

Historical Prices

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as of 10/31/2019

Sector Breakdown

Holdings % of Total Net Assets
Communication Services 7.70
Consumer Discretionary 12.90
Consumer Staples 7.40
Energy 6.30
Financials 18.70
Health Care 14.80
Industrials 8.60
Information Technology 17.50
Real Estate 2.10
Utilities 2.30

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.

as of 10/31/2019

Asset Mix

Holdings % of Total Net Assets
Common Stocks 98.19
Cash 1.82

May not equal 100% due to rounding.

as of 10/31/2019

Fund Characteristics

3-Year Alpha -5.10%
3-Year Beta 0.99
3-Year R-Squared 0.93
3-Year Sharpe Ratio 0.57
3-Year Standard Deviation 12.48
Number of Securities 56
Total Assets $3,206,877,965.00
Wghtd Med Mkt Cap MM$ $123,924.00

Source: RIMES Technologies Corp.,StyleADVISOR

Benchmark:  Russell 1000 IX Tr

as of 10/31/2019

Top Equity Holdings | View all

  % of Total Assets
JPMorgan Chase 4.84
Procter & Gamble 3.90
Facebook 'A' 3.70
Amazon 3.67
UnitedHealth 3.66
Berkshire Hathaway 'B' 3.24
Merck 3.19
Lockheed Martin 2.98
Capital One Financial 2.60

May not equal 100% due to rounding.

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

as of 10/31/2019

Top Industries

  % of Total Assets
Systems Software 8.39
Internet & Direct Marketing Retail 6.03
Interactive Media & Services 5.69
Pharmaceuticals 5.46
Diversified Banks 5.04
Aerospace & Defense 4.11
Consumer Finance 4.02
Household Products 3.90
Integrated Oil & Gas 3.78
Managed Health Care 3.66

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

Cash/Cash Equivalents Risk. In rising markets, holding cash or cash equivalents will negatively affect the Fund's performance relative to its benchmark.

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.

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.

Management Risk. The Fund is actively managed and depends heavily on the 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. Additionally, legislative, regulatory, or tax developments may adversely affect management of the Fund and, therefore, 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.

Small- and Mid-Capitalization Companies Risks. Small- and mid-capitalization companies tend to be more vulnerable to changing market conditions, may have little or no operating history or track record of success, and may have more limited product lines and markets, less experienced management and fewer financial resources than larger companies. These companies' securities may be more volatile and less liquid than those of more established companies, and their returns may vary, sometimes significantly, from the overall securities market.