country or a limited number of countries. Adverse economic, political
or social conditions in those countries may therefore have a significant negative impact on the Fund’s investment performance.
Growth Investing Risk. Growth stocks tend to be more expensive relative to the issuing company’s earnings or assets compared with other types of stock. As a result, they tend to be more sensitive to changes in, or investors’
expectations of, the issuing company’s earnings and can be more volatile.
Investing in the European Union Risk. Investments in certain countries in the European Union are susceptible to high economic risks associated with high levels of debt, such as investments in sovereign debt of Greece, Italy and Spain. Efforts of the member
states to further unify their economic and monetary policies may increase the potential for the downward movement of one member state’s market to cause a similar effect on other member states’ markets. Separately, the European Union
faces issues involving its membership, structure, procedures and policies. The exit of one or more member states from the European Union, such as the United Kingdom (UK), would place its currency and banking system in jeopardy. The exit by the UK or
other member states will likely result in increased volatility, illiquidity and potentially lower economic growth in the affected markets, which will adversely affect the Fund’s investments.
Limited Number of Holdings Risk. The Fund holds a more limited number of securities than other funds with a similar investment strategy. As a result, each investment has a greater effect on the Fund’s overall performance and any change in the
value of these securities could significantly affect the value of your investment in the Fund.
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.
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.
Sector Focus Risk.
The Fund may from time to time invest a significant amount of its assets (i.e. over 25%) in one market sector or group of related industries. In this event, the Fund’s performance will depend to a greater extent on the overall condition of the
sector or group of industries and there is increased risk that the Fund will lose significant value if conditions adversely affect that sector or group of industries.
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.
Performance Information
The bar chart and performance table provide an indication of the risks
of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund's performance to that of a broad-based securities market benchmark, a style-specific
benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to those of the Fund (in that order). For more information on the benchmarks used see the “Benchmark Descriptions” section in the
prospectus. The Fund's past performance (before and after taxes) is not necessarily an indication of its future performance.
Updated performance information is available on the
Fund's website at www.invesco.com/us.
Annual Total Returns
The bar chart does not reflect sales loads. If it did, the annual
total returns shown would be lower.
Best Quarter (ended
March 31, 2019): 20.28%
Worst Quarter (ended December 31, 2018): -15.83%
Average
Annual Total Returns (for the periods ended December 31, 2019) |
|
1
Year |
Since
Inception |
Class
A shares: Inception (12/21/2015) |
Return
Before Taxes |
27.92%
|
9.27%
|
Return
After Taxes on Distributions |
27.14
|
7.69
|
Return
After Taxes on Distributions and Sale of Fund Shares |
16.73
|
6.87
|
...
|
Class
C shares: Inception (12/21/2015) |
33.24
|
9.98
|
...
|
Class
R shares: Inception (12/21/2015) |
34.84
|
10.50
|
...
|
Class
Y shares: Inception (12/21/2015) |
35.49
|
11.05
|
...
|
Class
R5 shares: Inception (12/21/2015) |
35.60
|
11.07
|
...
|
Class
R6 shares: Inception (12/21/2015) |
35.49
|
11.05
|
...
|
MSCI
All Country World ex-USA® Index (Net) (reflects reinvested dividends net of withholding taxes, but reflects no deductions for fees, expenses or
other taxes) |
21.51
|
8.88
|
...
|
MSCI
All Country World ex-U.S. Growth Index (Net) (reflects reinvested dividends net of withholding taxes, but reflects no deductions for fees, expenses or other taxes) |
27.34
|
9.91
|
...
|
Lipper
International Multi-Cap Growth Funds Index |
25.06
|
8.54
|
...
|
After-tax returns are calculated using the
historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are
not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans, 529 college savings plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns
for other classes will vary.
Management of the Fund
Investment Adviser: Invesco Advisers, Inc. (Invesco or the
Adviser)
Investment Sub-Adviser: Invesco Hong Kong Limited
Portfolio
Managers |
Title
|
Length
of Service on the Fund |
Jeff
Feng |
Portfolio
Manager |
2015
|
...
|
Matt
Peden |
Portfolio
Manager |
2015
|
...
|
Purchase and Sale of Fund
Shares
You may purchase, redeem or exchange shares of the Fund
on any business day through your financial adviser or by telephone at 800-959-4246. Shares of the Fund, other than Class R5 and Class R6 shares, may also be