Invesco Global Small & Mid Cap Growth Fund

Data updated: 2020-03-31

C000053091 — Invesco Global Small & Mid Cap Growth Fund. China Mid Cap Growth Equity · $440.61M AUM. Holdings, fees, performance and SEC filings.

C000053091 Fund Overview

Invesco Global Small & Mid Cap Growth Fund is a US mutual fund managed by Aim International Mutual Funds (invesco International Mutual Funds), categorised as China Mid Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

C000053091 Investment Objective and Strategy

Invesco Global Small & Mid Cap Growth Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aim International Mutual Funds (invesco International Mutual Funds).

Investment objective

The Fund’s investment objective is long-term growth of capital.

Principal investment strategy

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small- and/or mid-capitalization issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund invests primarily in equity securities and depositary receipts of domestic and foreign issuers. The principal types of equity securities in which the Fund invests are common and preferred stock. The Funds common stock investments 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 invests primarily in securities of issuers that are considered by the Funds portfolio managers to have potential for earnings or revenue growth.

The Fund considers an issuer to be a small-capitalization issuer if it has a market capitalization, at the time of purchase, no larger than the largest capitalized issuer included in the Russell 2000 Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. As of October 31, 2017, the capitalization of companies in the Russell 2000 Index ranged from $24 million to $6.6 billion. The Fund considers an issuer to be a mid-capitalization issuer if it has a market capitalization, at the time of purchase, within the range of the largest and smallest capitalized issuers included in the Russell Midcap Index during the most recent 11-month period (based on the month-end data) plus the most recent data during the current month. As of October 31, 2017, the capitalization of companies in the Russell Midcap Index ranged from $1.4 billion to $34.4 billion.

Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries, including the U.S. The Fund may also invest up to 35% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are in the early stages of their industrial cycles. The Fund can invest in derivative instruments, including forward foreign currency contracts and futures 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. The Fund can use futures contracts to gain exposure to the broad market in connection with managing cash balances or to hedge against downside risk.

The portfolio managers employ a disciplined investment strategy that emphasizes fundamental research. The fundamental research primarily focuses on identifying quality growth companies and is supported by quantitative analysis, portfolio construction and risk management. Investments for the portfolio are selected bottom-up on a security-by-security basis. The focus is on the strengths of individual issuers, rather than sector or country trends. The portfolio managers strategy primarily focuses on identifying issuers that they believe have sustainable earnings growth, efficient capital allocation, and attractive prices. The Funds portfolio managers may consider selling a security for several reasons, including when (1) its price changes such that they believe it has become too expensive, (2) the original investment thesis for the company is no longer valid, or (3) a more compelling investment opportunity is identified.

C000053091 Costs and Fees

C000053091 costs about $97 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.97%
  • Gross expense ratio: 0.98%
  • Portfolio turnover: 42%
  • Brokerage commissions: 4.49 bps of average net assets (SEC N-CEN)

C000053091 Cashflows

Over the 12 months to 2020-01, Invesco Global Small & Mid Cap Growth Fund had net inflows of $11.51M, from monthly SEC N-PORT filings.

MonthNet flow
2020-01−$4.80M
2019-12$31.83M
2019-11−$3.56M
2019-10−$4.29M
2019-09−$3.79M
2019-08−$3.88M

C000053091 Debt Constituents

No individual debt constituents are reported in Invesco Global Small & Mid Cap Growth Fund's latest SEC N-PORT filing.

C000053091 Prospectus and SEC Filings

Official Invesco Global Small & Mid Cap Growth Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

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Related funds tracked on ABC INVEST:

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.