Invesco Oppenheimer Real Estate Fund

Data updated: 2020-03-31

C000209148 — Invesco Oppenheimer Real Estate Fund. United States Real Estate · $968.99M AUM. Holdings, fees, performance and SEC filings.

C000209148 Fund Overview

Invesco Oppenheimer Real Estate Fund is a US mutual fund managed by Aim Counselor Series Trust (invesco Counselor Series Trust), categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

C000209148 Investment Objective and Strategy

Invesco Oppenheimer Real Estate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aim Counselor Series Trust (invesco Counselor Series Trust).

Investment objective

The Fund’s investment objective is to seek total return.

Principal investment strategy

Under normal market conditions, the Fund invests at least 80% of its net assets (including borrowings for investment purposes) in common stocks and other equity securities of real estate companies, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund considers a real estate company to be one that derives at least 50% of its revenues from, or invests at least 50% of its assets in, the ownership, construction, financing, management or sale of commercial, industrial or residential real estate. The Fund primarily invests in real estate investment trusts (REITs) but may also invest in real estate operating companies (REOCs) and other real estate related securities. REOCs are real estate companies that have not elected to be taxed as REITs and therefore are not required to distribute taxable income and have fewer restrictions on what they can invest in.

The assets of the REITs that the Fund invests in are primarily land and buildings, although the Fund may invest in REITs that hold mortgages or a combination of investment types. The portfolio manager employs both top-down and bottom-up methods in selecting securities for the Fund. Top-Down Analysis. The Funds portfolio manager is employed by the Funds sub-adviser, Barings LLC (Sub-Adviser), which has in-house real estate specialists who can provide field observations regarding local, regional and national real estate trends and fundamentals in support of the top-down analysis. The Sub-Adviser also has comprehensive property databases that track the real estate markets by property type, geographic metro area and company portfolio. This allows the portfolio manager to use proprietary models to analyze markets at various levels, including Standard Industrial Classification code, zip code and Metropolitan Statistical Area, resulting in comprehensive industry databases.

The Funds top-down portfolio weightings are determined by a national, regional and metro area market analysis of the following factors: Projected growth in supply and demand factors specifically related to the commercial property markets. Projected growth in new commercial space by tracking construction in process and building permit activity. Expected growth in supply and demand for hotels. Projected growth in Gross Domestic Product and airline travel. Anticipated growth in new construction and building permit activity of all classes of business, leisure and resort hotels. Anticipated growth in supply and demand factors affecting residential real estate. Expected growth in population, employment, personal income, household formations and propensity to own versus rent. Current affordability of the single-family residential real estate market.

Bottom-Up Analysis. The portfolio managers bottom-up analysis uses traditional equity analysis to assess an individual real estate companys portfolio, current business strategy, capital structure and management track record. Specifically, the portfolio manager looks for companies with the following characteristics: Capacity for predictable and sustainable growth in revenue and earnings per share. Dominant owner/operator in its property types and geographic markets. Property holdings poised for potentially higher growth due to managements strategic positioning or due to geographic locations in markets where land suitable for development is scarce. Strong capital structure and access to capital that may help to effect long-term business strategies. Experienced senior management with a strong track record and a wide spectrum of industry-specific skills.

Attractive valuation relative to other companies and to historical valuations in the real estate market. The Fund may buy securities issued by companies of any size or market capitalization range and at times might increase its emphasis on securities of issuers in a particular capitalization range.

C000209148 Costs and Fees

C000209148 costs about $92 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.92%
  • Gross expense ratio: 0.94%
  • Portfolio turnover: 72%

C000209148 Cashflows

Over the 12 months to 2020-01, Invesco Oppenheimer Real Estate Fund had net outflows of $71.10M, from monthly SEC N-PORT filings.

MonthNet flow
2020-01−$10.10M
2019-12−$20.96M
2019-11−$8.91M
2019-10−$9.03M
2019-09−$2.01M
2019-08−$20.09M

C000209148 Debt Constituents

No individual debt constituents are reported in Invesco Oppenheimer Real Estate Fund's latest SEC N-PORT filing.

C000209148 Prospectus and SEC Filings

Official Invesco Oppenheimer Real Estate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other United States Real Estate 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.