AUBCX — Invesco World Bond Fund

AUBCX Fund Overview

AUBCX — Invesco World Bond Fund is a US mutual fund managed by Aim Investment Funds (invesco Investment Funds), categorised as Intermediate Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Aim Investment Funds (invesco Investment Funds)
• Category: Intermediate Total / Aggregate Bond
• Assets under management: $21.26M
• 1-year return: 1.5%
• Ticker: AUBCX
• SEC CIK: 0000826644
• SEC series ID: S000008410
• Share class ID: C000023079

AUBCX Investment Objective and Strategy

Invesco World Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aim Investment Funds (invesco Investment Funds).

Investment objective

The Fund's investment objective is total return, comprised of current income and capital appreciation.

Principal investment strategy

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowing for investment purposes) in fixed income securities and in derivatives and other instruments that have economic characteristics similar to such securities. Fixed income securities that the Fund may invest in include U.S. and foreign government, corporate or agency securities of varying maturities, including securitized securities, such as asset-backed and mortgage-backed securities, and commercial paper and other short-term debt instruments. The Fund will invest in securities of U.S. and foreign issuers, including securities of issuers located in emerging markets countries; i.e., those that are in the early stages of their industrial cycles. Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three countries, including the United States; but the Fund is permitted to invest substantially all of its assets in securities of foreign issuers, including securities of issuers located in emerging markets countries.

The Fund may invest up to 25% of its net assets in non-investment grade securities. Securities rated below investment grade are commonly referred to as junk bonds. Investment grade securities are: (i) securities rated BBB- or higher by Standard & Poors Ratings Services (S&P) or Baa3 or higher by Moodys Investors Service, Inc. (Moodys) or an equivalent rating by another nationally recognized statistical rating organization (NRSRO), (ii) securities with comparable short-term NRSRO ratings, or (iii) unrated securities determined by Invesco Advisers, Inc. (Invesco or the Adviser) to be of comparable quality, each at the time of purchase. The Fund may purchase mortgage-backed and asset-backed securities such as collateralized mortgage obligations (CMOs). The Fund may invest in illiquid or thinly traded securities, as well as securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933.

The Funds investments may include securities that do not produce immediate cash income, such as zero coupon securities and payment-in-kind securities. The Fund may purchase and sell securities on a when-issued and delayed delivery basis, which means that the Fund buys or sells a security with payment and delivery taking place in the future. The Fund may invest in various derivatives instruments for purposes of pursuing its investment goals, for risk management, portfolio management, earning income, managing target duration, gaining exposure to a particular asset class or hedging its exposure to particular investments or non-U.S. currencies. Such derivatives may include, among others, currency-related derivatives, such as currency futures, options and forward foreign currency contracts; interest rate-related derivatives, such as interest rate swaps and futures, options on bond or interest rate futures and swaptions (options on swaps); credit-related derivatives, such as credit default swaps, credit default index swaps, total return swaps and credit default swap options; and volatility derivatives, such as volatility swaps.

The Funds investments in derivatives may create leveraged exposure to certain fixed income markets. Leverage occurs when the investments in derivatives create greater economic exposure than the amount invested. The Fund can engage in foreign currency transactions either on a spot basis (i.e., for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time) or through forward foreign currency contracts to gain or mitigate the risk of foreign currency exposure. The Fund is non-diversified, which means it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can. The Fund utilizes active duration (i.e., making investments to reduce or increase the sensitivity of the Funds portfolio to interest rate changes) and yield curve positioning (i.e., making investments that allow the Fund to benefit from varying interest rates) for risk management and seeking to generate alpha (return on investments in excess of the Bloomberg Barclays Global Aggregate Index (the benchmark index)).

The Fund may invest in securities of any maturity or duration. The average maturity of securities in the Funds portfolio will fluctuate based on the portfolio managers view of economic, market and political conditions. The portfolio managers may utilize the benchmark index as a reference in structuring the portfolio. The portfolio managers decide on appropriate risk factors such as sector and issuer weightings and duration relative to the benchmark index. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of specialist decision makers in positioning the Fund to generate alpha. The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and security selection) to implement those recommendations.

Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. Specialists employ a bottom-up approach to recommend larger or smaller exposure to specific risk factors, such as currency risk and corporate credit risk. In general, specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers rely on recommendations of these market-specific specialists for adjusting the Funds risk exposures and security selection on a real-time basis using proprietary communication technology. Decisions to purchase or sell securities are determined by the relative value considerations of the portfolio managers that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities.

The purchase or sale of securities may be related to a decision to alter the Funds macro risk exposure (such as duration, currency, yield curve positioning and sector exposure), a need to limit or reduce the Funds exposure to a particular security, issuer or currency, degradation of an issuers credit quality, changes in exchange rates or general liquidity needs of the Fund. In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

AUBCX Holdings

Top 10 holdings of Invesco World Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all AUBCX holdings

AUBCX Portfolio Allocation

Asset-class allocation of Invesco World Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

AUBCX Performance

Total returns for AUBCX (as of 2026-10-01), from SEC filings.

AUBCX Risk Information

Risk metrics for AUBCX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 9.1%

AUBCX Costs and Fees

AUBCX costs about $132 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.32%
• Gross expense ratio: 2.18%
• Portfolio turnover: 123%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

AUBCX Cashflows

Over the 12 months to 2023-10, Invesco World Bond Fund had net outflows of $9.09M, from monthly SEC N-PORT filings.

AUBCX Debt Constituents

Largest debt holdings of Invesco World Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

AUBCX Prospectus and SEC Filings

Official Invesco World Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-02-28
• Prospectus (485BPOS) — filed 2022-02-25
• Prospectus (485BPOS) — filed 2021-02-22
• Portfolio holdings (N-PORT) — filed 2024-01-02
• Portfolio holdings (N-PORT) — filed 2023-09-29
• Portfolio holdings (N-PORT) — filed 2023-06-29
• Annual census (N-CEN) — filed 2024-01-16
• Annual census (N-CEN) — filed 2023-01-13

Related Funds

Other Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:

• Vanguard Total Bond Market Index Fund (VBMFX)
• Vanguard Total Bond Market II Index Fund (VTBIX)
• Vanguard Total International Bond II Index Fund (VTIIX)
• iShares Core U.S. Aggregate Bond ETF (AGG)
• Vanguard Total International Bond Index Fund (VTIBX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.