Invesco Oppenheimer Limited-Term Government Fund

Data updated: 2020-06-01

C000209411 — Invesco Oppenheimer Limited-Term Government Fund. Short Treasury / Sovereign Bond · $1.06B AUM. Holdings, fees, performance and SEC filings.

C000209411 Fund Overview

Invesco Oppenheimer Limited-Term Government Fund is a US mutual fund managed by Aim Investment Securities Funds (invesco Investment Securities Funds), categorised as Short Treasury / Sovereign Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

C000209411 Investment Objective and Strategy

Invesco Oppenheimer Limited-Term Government Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aim Investment Securities Funds (invesco Investment Securities Funds).

Investment objective

The Fund’s investment objective is to seek income.

Principal investment strategy

Under normal market conditions, as a non-fundamental policy, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in debt securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements on those securities, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund may invest up to 20% of its net assets in mortgage-backed securities that are not issued or guaranteed by the U.S. government, its agencies or instrumentalities, asset-backed securities, investment grade corporate debt obligations (having a rating at the time of acquisition by the Fund of at least BBB by S&P Global Ratings or Baa by Moodys Investors Service or a comparable rating by another nationally recognized securities rating organization; or, if unrated, deemed by Adviser to have a comparable rating) and certain other high quality debt obligations.

U.S. government securities are debt securities issued or guaranteed by the U.S. Treasury, such as Treasury bills, notes or bonds, and securities issued or guaranteed by U.S. government agencies or federally-chartered entities that are referred to as instrumentalities of the U.S. government. The Fund invests significant amounts of its assets in mortgage-related derivative securities, such as collateralized mortgage obligations (CMOs) and mortgage participation certificates. They include mortgage-related securities issued or guaranteed by instrumentalities of the U.S. government, such as the Government National Mortgage Association. The Fund also may enter into forward roll transactions. Not all of the U.S. government securities the Fund buys are issued or guaranteed by the U.S. government as to payment of interest and repayment of principal.

Some are backed by the right of the issuer to borrow from the U.S. Treasury. Others are backed only by the credit of the instrumentality. The securities the Fund buys may pay interest at fixed, floating, or variable rates, or may be stripped securities whose interest coupons have been separated from the security and sold separately. The Fund seeks to maintain an average effective portfolio duration of not more than three years (measured on a dollar-weighted basis) to try to reduce the volatility of the value of its securities portfolio. However, the Fund can invest in securities that have short-, medium- or long-term maturities and may use derivative investments to try to reduce interest rate risks. The duration of the portfolio might not meet that target at all times due to interest rate changes and other market events.

The Fund may also use derivatives to seek to increase its investment return or for hedging purposes. Options, futures, CMOs, total return swaps and credit default swaps are examples of derivatives the Fund can use. The portfolio managers employ a top-down, or global, macroeconomic analysis of the fixed income markets, then sets strategic targets to guide decisions on interest rate sensitivity and sector allocations. The portfolio managers then pair these targets with bottom-up, or security-by-security, fundamental research to make individual investment decisions and help manage risks within each bond sector. The Funds portfolio managers compare the yields, relative values and risks of different types of U.S. government securities and government agency securities to provide portfolio diversity to help preserve principal.

The portfolio managers currently focus on sectors of the U.S. government debt market that they believe offer good relative values, securities that have relatively high income potential, and securities that help reduce exposure to changes in interest rates to help preserve principal and help the Fund meet its duration target. These factors may vary in particular cases and may change over time. The Fund may sell securities that the portfolio managers believe are no longer favorable with regard to these factors. The Funds share prices and distributions are not backed or guaranteed by the U.S. government.

C000209411 Costs and Fees

C000209411 costs about $50 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.50%
  • Gross expense ratio: 0.64%
  • Portfolio turnover: 54%
  • Brokerage commissions: 0.53 bps of average net assets (SEC N-CEN)

C000209411 Cashflows

Over the 12 months to 2020-03, Invesco Oppenheimer Limited-Term Government Fund had net inflows of $62.89M, from monthly SEC N-PORT filings.

MonthNet flow
2020-03$182.22M
2020-02−$1.03M
2020-01−$8.45M
2019-12−$136.95M
2019-11−$6.18M
2019-10$30.91M

C000209411 Debt Constituents

No individual debt constituents are reported in Invesco Oppenheimer Limited-Term Government Fund's latest SEC N-PORT filing.

C000209411 Prospectus and SEC Filings

Official Invesco Oppenheimer Limited-Term Government Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Short Treasury / Sovereign Bond 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.