| Summary Prospectus |
June 27, 2025 |
Invesco Global Real Estate Fund
Class: A (AGREX), C (CGREX), R (RGREX), Y (ARGYX), R5 (IGREX), R6 (FGREX)
Before you invest, you may want to review the
Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus, reports to shareholders, and other information
about the Fund online at www.invesco.com/prospectus. You can also get this information at no cost by calling (800) 959-4246 or by sending an e-mail request to
ProspectusRequest@invesco.com. The Fund’s prospectus and statement of additional information, both dated June 27, 2025 (as each may be amended or supplemented), are
incorporated by reference into this Summary Prospectus and may be obtained, free of charge, at the website, phone number or e-mail address noted above.
Investment Objective(s)
The Fund’s investment objective is total return through growth of capital and current
income.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund.
The table and Examples below do not reflect any transaction
fees that may be charged by financial intermediaries or
commissions that a shareholder may be required to pay directly
to its financial intermediary when buying or selling Class Y or
Class R6 shares. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at
least $50,000 in the
Invesco Funds. More information about these and other discounts is available from your financial
professional and in the section “Shareholder Account Information – Initial Sales Charges (Class A Shares Only)” on page A-3 of the prospectus and the section “Purchase, Redemption and Pricing of Shares – Purchase and
Redemption of Shares” on page L-1 of the statement of additional information (SAI).
| Shareholder Fees (fees paid directly from your
investment) | ||||||
| Class: |
A |
C |
R |
Y |
R5 |
R6 |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
5.50 % |
None |
None |
None |
None |
None |
| | ||||||
| Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less) |
None1 |
1.00 % |
None |
None |
None |
None |
| | ||||||
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||
| Class: |
A |
C |
R |
Y |
R5 |
R6 |
| Management Fees |
0.75 % |
0.75 % |
0.75 % |
0.75 % |
0.75 % |
0.75 % |
| | ||||||
| Distribution and/or Service (12b-1) Fees
|
0.25 |
1.00 |
0.50 |
None |
None |
None |
| | ||||||
| Other Expenses |
0.44 |
0.44 |
0.44 |
0.44 |
0.26 |
0.20 |
| | ||||||
| Total Annual Fund Operating Expenses |
1.44 |
2.19 |
1.69 |
1.19 |
1.01 |
0.95 |
| | ||||||
| 1 |
A contingent deferred sales charge may apply in some cases. See “Shareholder Account Information-Contingent Deferred Sales Charges (CDSCs).”
|
Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in
other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and
then redeem all of your shares at the end of those periods. This Example does not include commissions and/or other forms of compensation that investors may pay on transactions in Class Y and Class R6 shares. The Example also assumes
that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
Although your actual costs may be higher or lower, based on these assumptions, your costs
would be:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Class A |
$689
|
$980
|
$1,294
|
$2,179
|
| | ||||
| Class C |
$322
|
$685
|
$1,175
|
$2,334
|
| | ||||
| Class R |
$172
|
$533
|
$918
|
$1,998
|
| | ||||
| Class Y |
$121
|
$378
|
$654
|
$1,443
|
| | ||||
| Class R5 |
$103
|
$322
|
$558
|
$1,236
|
| | ||||
| Class R6 |
$97
|
$303
|
$525
|
$1,166
|
| | ||||
You would pay the following expenses if you did not redeem your shares:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Class A |
$689
|
$980
|
$1,294
|
$2,179
|
| | ||||
| Class C |
$222
|
$685
|
$1,175
|
$2,334
|
| | ||||
| Class R |
$172
|
$533
|
$918
|
$1,998
|
| | ||||
| Class Y |
$121
|
$378
|
$654
|
$1,443
|
| | ||||
| Class R5 |
$103
|
$322
|
$558
|
$1,236
|
| | ||||
| Class R6 |
$97
|
$303
|
$525
|
$1,166
|
| | ||||
Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio
turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the
Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 130% of the average value of its
portfolio.
Principal Investment Strategies of the Fund
The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for
investment purposes) in securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.
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The Fund invests primarily in real estate
investment trusts (REITs) and equity securities (including common and preferred stock, and convertible securities) of domestic and foreign issuers. The Fund’s common stock investments may also include China
A-shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange).
The Fund
concentrates its investments in the securities of domestic and foreign real estate and real estate-related companies. The Fund considers an issuer to be a real estate or real estate-related company if at least 50% of its assets, gross income or
net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate. These issuers include (i) REITs or other real estate operating companies that (a) own
property, (b) make or invest in short-term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) issuers whose products and services are related to the real estate
industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.
The Fund may also invest in debt securities of domestic and foreign issuers (including corporate debt obligations and commercial mortgage-backed securities). The Fund may invest
up to 10% of its net assets in non-investment grade debt securities (commonly known as “junk
bonds”) of real estate and real estate-related issuers.
Under normal circumstances, the Fund will provide exposure to investments
that are economically tied to at least three different countries, including the U.S. and at least 40%, unless market conditions are not deemed favorable, in which case at least 30% of the Fund’s net assets will provide exposure to
investments that are economically tied to countries other than the U.S. The Fund may invest up to 20% of its net assets in securities of issuers located in emerging market countries, i.e., those that are generally in the early stages
of their industrial cycles.
The Fund may invest in securities of issuers of all
capitalization sizes. Real estate companies tend to have smaller asset bases compared with other
market sectors, therefore, the Fund may hold a significant amount of securities of small- and mid-capitalization issuers.
The Fund may engage in short sales of securities. The Fund may engage in short sales with respect to securities it owns or securities it does not own. Generally, the Fund
will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns.
The Fund will not sell a security short if, as a result of such short sale, the aggregate market value of all securities sold short exceeds 10% of the Fund’s net assets.
The Fund can invest in derivative instruments including forward foreign
currency contracts.
The Fund can use forward foreign currency contracts to hedge against
adverse movements in the foreign currencies in which portfolio securities are denominated; though
the Fund has not historically used these instruments.
When constructing the portfolio, the portfolio managers use a
fundamentals-driven investment process, including an evaluation of factors such as property
market cycle analysis, property evaluation and management and structure review to identify securities with characteristics including (i) quality underlying properties, (ii) solid management teams with the ability to
effectively manage capital structure decisions and execute their stated strategic plan, and (iii) attractive valuations relative to peer investment alternatives.
The portfolio managers focus on equity REITs and real estate operating
issuers. Each qualified security in the investment universe is analyzed using fundamental real
estate analysis and valuation review to identify securities that appear to have relatively favorable long-term prospects and attractive values. Some of the fundamental real estate factors that are considered include: forecasted occupancy and
rental rates of the various property markets in which a firm may operate, property locations, physical attributes,
management depth and skill, insider
ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios. The issuers that are believed to have the most attractive fundamental real estate attributes are then evaluated on
the basis of relative value. Some of the valuation factors that are considered include: cash flow consistency and growth, dividend yield, dividend coverage and growth, and cash flow and assets to price
multiples.
The portfolio managers seek to construct a portfolio with risk characteristics similar to the FTSE EPRA Nareit Developed Index. The Fund uses this index as a guide in
structuring the portfolio, but the Fund is not an index fund.
The portfolio managers seek to limit risk through various controls, such as
diversifying the portfolio property types and geographic areas as well as by considering the relative liquidity of each security and limiting the size of any one holding.
The
portfolio managers will consider selling a security if they conclude (1) its relative valuation has fallen below desired levels, (2) its risk/return profile has changed significantly, (3) its fundamentals have changed, or (4) a more attractive
investment opportunity is identified.
In attempting to meet its investment
objective or to manage subscription and redemption requests, the Fund may engage in active and
frequent trading of portfolio securities.
Principal Risks of Investing in the Fund
As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the Fund can increase during times of significant market
volatility. The principal risks of investing in the Fund are:
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. The value of the Fund’s investments may go up or down due to general market conditions that are not specifically related to the particular issuer. These market conditions may include
real or perceived adverse economic conditions, changes in trade regulation or economic sanctions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or
global instability and uncertainty, natural or environmental disasters, widespread disease or other public health issues, war, military conflict, acts of terrorism, economic crisis or adverse investor sentiment generally, among
others. Certain changes in the U.S. economy in particular, such as when the U.S. economy weakens or when its financial markets decline, may have a material adverse effect on global financial markets as a whole, and on the
securities to which the Fund has exposure. Increasingly strained relations between the U.S. and foreign countries, including as a result of economic sanctions and tariffs, may also adversely affect U.S. issuers, as well as
non-U.S. issuers.
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.
REIT Risk/Real Estate Risk. Investments in real estate related instruments may be adversely affected by economic, legal, cultural, environmental or technological factors
that affect property values, rents or occupancies. Shares of real estate related companies, which tend to be small- and mid-cap companies, may be more volatile and less liquid than larger companies. If a real estate
related company defaults on certain types of debt obligations held by the Fund, the Fund may acquire real estate directly, which involves additional risks such as environmental liabilities; difficulty in valuing and selling
the real estate; and economic or regulatory changes.
Investing in Stocks
Risk. The value of the Fund’s portfolio may be affected by changes in the stock markets. Stock markets may experience
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significant short-term volatility and may
fall or rise sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each
other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.
The prices of individual stocks generally do not all move in the same direction at the same
time. However, individual stock prices tend to go up and down more dramatically than those of certain other types of investments, such as bonds. A variety of factors can negatively affect the price of a particular
company’s stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or changes in government
regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies
in a particular industry), Fund share values may fluctuate more in response to events affecting the market for those types of securities.
Foreign Securities
Risk. Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have
relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and
financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure,
expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the
difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend
withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S.
dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund’s returns, unless the Fund has hedged its foreign currency exposure. Currency
exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies,
including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies
than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes
imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or
regulations that could negatively affect the company’s performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries
that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.
Emerging Markets Investment Risk. Investments in the securities of issuers in emerging market countries involve risks often not associated with investments in the securities
of issuers in developed countries. Securities in emerging markets may be subject to greater price fluctuations than securities in more developed markets. Companies in emerging market countries generally may be subject to
less stringent regulatory, disclosure, financial reporting, accounting, auditing and recordkeeping standards than companies in more developed countries. In addition, information about such companies may be less available and
reliable. Emerging markets usually are
subject to greater market volatility, political, social and economic instability, uncertainty regarding the
existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Securities law in many emerging market countries is relatively new and unsettled. Therefore, laws
regarding foreign investment in emerging market securities, securities regulation, title to securities, and shareholder rights may change quickly and unpredictably, and the ability to bring and enforce actions, or to obtain
information needed to pursue or enforce such actions, may be limited. In addition, the enforcement of systems of taxation at federal, regional and local levels in emerging market countries may be inconsistent and subject to sudden
change. Investments in emerging market securities may be subject to additional transaction costs, delays in settlement procedures, unexpected market closures, and lack of timely information.
The Fund's
investments in China A-shares are subject to trading restrictions, quota limitations and clearing and settlement risks.
Preferred Securities Risk. There are special risks associated with investing in preferred securities compared to those applicable generally to equity securities. Preferred
securities may be less liquid than many other securities, such as common stocks, and generally offer no voting rights with respect to the issuer. Preferred securities also may be subordinated to bonds or other debt instruments in an
issuer’s capital structure, subjecting them to a greater risk of non-payment than more senior securities. Preferred securities may include provisions that permit the issuer, in its discretion, to defer or omit
distributions for a certain period of time. If the Fund owns a security that is deferring or omitting its distributions, the Fund may be required to report the distribution on its tax returns, even though it may not have received any
income. Further, preferred securities may lose substantial value due to the omission or deferment of dividend payments.
Convertible Securities Risk. The market values of convertible securities are affected by market interest rates, the risk of actual issuer default on interest or principal
payments and the value of the underlying common stock into which the convertible security may be converted. Additionally, a convertible security is subject to the same types of market and issuer risks that apply to the
underlying common stock. In addition, certain convertible securities are subject to involuntary conversions and may undergo principal write-downs upon the occurrence of certain triggering events, and, as a result, are subject
to an increased risk of loss. Convertible securities may be rated below investment grade and therefore considered to have more speculative characteristics and greater susceptibility to default or decline in market value than
investment grade securities.
Geographic Focus
Risk. The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single 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.
Small- and Mid-Capitalization Companies Risk. Investing in
securities of small- and mid-capitalization companies involves greater risk than customarily is
associated with investing in larger, more established companies. Stocks of 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. They may be more sensitive to changes in a company’s earnings expectations and may experience more abrupt and erratic price movements. Smaller companies’ securities
often trade in lower volumes and in many instances, are traded over-the-counter or on a regional securities exchange, where the frequency and volume of trading is substantially less than is typical for securities of larger
companies traded on national securities exchanges. Therefore, the securities of smaller companies may be subject to wider price fluctuations and it might be harder for the Fund to dispose of
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its holdings at an acceptable price when it
wants to sell them. Since small- and mid-cap companies typically reinvest a high proportion of their earnings in their business, they may not pay dividends for some time, particularly if they are newer companies. It may
take a substantial period of time to realize a gain on an investment in a small- or mid-cap company, if any gain is realized at all.
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 credit analysis applied to the Fund’s debt securities 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.
High Yield Debt Securities (Junk Bond/Below-Investment-Grade) Risk. Compared to higher quality debt securities, high yield debt securities (commonly referred to as “junk
bonds”) and other lower-rated securities involve a greater risk of default or price changes
due to changes in the credit quality of the issuer because they are generally unsecured and may be subordinated to other creditors’ claims. High yield debt securities often are issued by smaller, less creditworthy companies or by highly leveraged
(for example, indebted) firms. High yield debt securities are considered speculative with respect to the issuer’s capacity to pay interest and repay principal, are more susceptible to default or decline in market value and
are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to company, political, regulatory or
economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at a fair price,
thus subjecting the Fund to a substantial risk of loss.
Mortgage- and Asset-Backed Securities Risk. Mortgage- and
asset-backed securities, including collateralized debt obligations and collateralized mortgage
obligations, are subject to prepayment or call risk, which is the risk that a borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. This could result in the Fund
reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Mortgage- and asset-backed securities also are subject to extension risk, which is the risk that an unexpected rise in interest rates
could reduce the rate of prepayments, causing the price of the mortgage- and asset-backed securities and the Fund’s share price to fall. An unexpectedly high rate of defaults on the mortgages held by a mortgage
pool may adversely affect the value of mortgage-backed securities and could result in losses to the Fund. Privately-issued mortgage-backed securities and asset-backed securities may be less liquid than other types of
securities and the Fund may be unable to sell these securities at the time or price it desires. During periods of market stress or high redemptions, the Fund may be forced to sell these securities at significantly reduced
prices, resulting in losses. Liquid privately-issued mortgage-backed securities and asset-backed securities can become illiquid during periods of market stress. Privately-issued mortgage-related securities are not
subject to the same underwriting requirements as those with government or government-sponsored entity
guarantees and, therefore, mortgage loans
underlying privately-issued mortgage-related securities may have less favorable collateral, credit risk, liquidity risk or other underwriting characteristics, and wider variances in interest rate, term, size,
purpose and borrower characteristics. The Fund may invest in mortgage pools that include subprime mortgages, which are loans made to borrowers with weakened credit histories or with lower capacity to make timely payments on
their mortgages. Liquidity risk is even greater for mortgage pools that include subprime mortgages.
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 holding a position in 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 or the anticipated value of the underlying
asset, 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. Derivatives strategies may not always be successful. For example,
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.
Short Position Risk. Because the Fund’s potential loss on a short position arises from increases in the value of the asset sold short, the Fund will incur a loss on a short
position, which is theoretically unlimited, if the price of the asset sold short increases from the short sale price. The counterparty to a short position or other market factors may prevent the Fund from closing out a short
position at a desirable time or price and may reduce or eliminate any gain or result in a loss. In a rising market, the Fund’s short positions will cause the Fund to underperform the overall market and its peers that do not
engage in shorting. If the Fund holds both long and short positions, and both positions decline simultaneously, the short positions will not provide any buffer (hedge) from declines in value of the Fund’s long positions.
Certain types of short positions involve leverage, which may exaggerate any losses, potentially more than the actual cost of the investment, and will increase the volatility of the Fund’s returns.
Active Trading
Risk. Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.
Management
Risk. The Fund is actively managed and depends heavily on the Adviser’s or Sub-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. There can be no guarantee that the Adviser’s
or Sub-Adviser's investment techniques or investment decisions will produce the desired results. 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.
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
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compares the Fund's performance to that of
a style-specific benchmark and a broad-based securities market benchmark (in that order). The
Fund's past performance (before and after taxes) is not necessarily an indication of its future
performance.
Fund performance reflects any applicable fee waivers and expense reimbursements. Performance
returns would be lower without applicable fee waivers and expense reimbursements.
All Fund performance shown assumes the reinvestment of dividends and
capital gains and the effect of the Fund’s expenses.
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.
| Class A |
Period Ended |
Returns |
| Year-to-date |
March 31, 2025 |
1.53% |
| Best Quarter |
September 30, 2024 |
14.99% |
| Worst Quarter |
March 31, 2020 |
-27.65% |
Average Annual Total Returns (for the periods ended December 31, 2024)
| |
Inception Date |
1 Year |
5 Years |
10
Years |
| Class A |
|
|
|
|
| Return Before Taxes |
4/29/2005 |
-7.22 % |
-3.74 % |
0.67 % |
| Return After Taxes on Distributions |
|
-7.90 |
-5.05 |
-0.97 |
| Return After Taxes on Distributions and Sale of Fund Shares |
|
-4.27 |
-3.07 |
0.11 |
| | ||||
| Class C |
4/29/2005 |
-3.47 |
-3.37 |
0.63 |
| | ||||
| Class R |
4/29/2005 |
-2.03 |
-2.89 |
0.99 |
| | ||||
| Class Y |
10/3/2008 |
-1.54 |
-2.39 |
1.50 |
| | ||||
| Class R5 |
4/29/2005 |
-1.49 |
-2.26 |
1.65 |
| | ||||
| Class R6 |
9/24/2012 |
-1.33 |
-2.19 |
1.73 |
| | ||||
| Custom Invesco Global Real Estate Index (Net) (reflects reinvested dividends net of withholding taxes, but reflects no deduction for fees, expenses or other taxes)1
|
|
0.94 |
-1.49 |
2.20 |
| | ||||
| MSCI World IndexSM (Net) (reflects invested dividends net of withholding taxes, but reflects no deduction for fees, expenses or taxes) |
|
18.67 |
11.17 |
9.95 |
| | ||||
1
The Custom Invesco Global Real Estate Index is composed of the FTSE EPRA Nareit Global
Index (Net) through June 30, 2021 and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021
onward.
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 Asset Management Limited (Invesco Asset
Management or the Sub-Adviser)
| Portfolio Managers |
Title |
Length of Service on the Fund |
| PingYing Wang, PhD, CFA |
Portfolio Manager (Lead) |
2006 |
| | ||
| James Cowen |
Portfolio Manager |
2008 |
| | ||
| Grant Jackson, CFA |
Portfolio Manager |
2018 |
| | ||
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 purchased, redeemed or exchanged on any business day through our
website at www.invesco.com/us or by mail to Invesco Investment Services, Inc., P.O. Box 219078,
Kansas City, MO 64121-9078.
The minimum investments for Class A,
C, R and Y shares for fund accounts are as follows:
| Type of Account |
Initial
Investment Per Fund |
Additional Investments
Per Fund |
| Asset or fee-based accounts managed by your financial adviser |
None |
None |
| | ||
| Employer Sponsored Retirement and Benefit Plans and Employer Sponsored IRAs |
None |
None |
| | ||
| IRAs and Coverdell ESAs if the new investor is purchasing shares through a systematic purchase plan |
$25 |
$25 |
| | ||
| All other types of accounts if the investor is purchasing shares through a systematic purchase plan |
50 |
50 |
| | ||
| IRAs and Coverdell ESAs |
250 |
25 |
| | ||
| All other accounts |
1,000 |
50 |
| | ||
Class R5 shares of the Fund are offered only to grandfathered investors. With respect to Class R5 and Class R6 shares, there is no minimum initial investment for Employer Sponsored
Retirement and Benefit Plans investing through a retirement platform that administers at least $2.5 billion in retirement plan assets. All other Employer Sponsored Retirement and Benefit Plans must meet a minimum initial
investment of at least $1 million in each Fund in which it invests.
For all other institutional investors purchasing Class R5 or Class R6 shares, the minimum initial investment in each share class is $1 million, unless such investment is made by
(i) an investment company, as defined under the Investment Company Act of 1940, as amended (1940 Act), that is part of a family of investment companies which own in the aggregate at least $100 million in securities, or
(ii) an account established with a 529 college savings plan managed by Invesco, in which case there is no minimum initial investment.
There are no minimum investment amounts for Class R6 shares held through
retail omnibus accounts maintained by an intermediary, such as a broker, that (i) generally charges an asset-based fee or commission in addition to those described in this prospectus, and (ii) maintains Class R6 shares and makes them available to
retail investors.
Tax Information
The
Fund’s distributions generally are taxable to you as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan, 529 college savings plan or individual retirement
account. Any distributions from a 401(k) plan or individual retirement account may be taxed as ordinary income when withdrawn from such plan or account.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund, the Fund’s distributor or its related companies may pay the
intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson or financial adviser to recommend the Fund over
another investment. Ask your
5 Invesco Global Real Estate Fund
invesco.com/usGRE-SUMPRO-1