IEMAX — Invesco Emerging Markets Equity Fund
Data updated: 2023-06-29
IEMAX — Invesco Emerging Markets Equity Fund. China Blend / Core Equity · $35.44M AUM · 1.33% expense ratio. Holdings, fees, performance and SEC filings.
IEMAX Fund Overview
IEMAX — Invesco Emerging Markets Equity Fund is a US mutual fund managed by Aim Investment Funds (invesco Investment Funds), categorised as China Blend / Core Equity. 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: China Blend / Core Equity
- Assets under management: $35.44M
- 1-year return: -2.6%
- Ticker: IEMAX
- SEC CIK: 0000826644
- SEC series ID: S000031988
- Share class ID: C000099579
IEMAX Investment Objective and Strategy
Invesco Emerging Markets Equity 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 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 equity securities of issuers in emerging markets countries, i.e., those that are in the early stages of their industrial cycles, and in other instruments that have economic characteristics similar to such securities. The Fund invests primarily in equity securities and depositary receipts. 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 the securities of large-capitalization issuers and may invest a significant amount of its net assets in the securities of small- and mid-capitalization issuers.
The Fund may invest up to 100% of its net assets in foreign securities, including securities of issuers located in emerging markets countries. The portfolio manager seeks to construct a portfolio of issuers that have high or improving return on invested capital, quality management, a strong competitive position and that are trading at compelling valuations. In selecting securities for the Fund, the portfolio manager conducts fundamental research of issuers to gain a thorough understanding of their business prospects, appreciation potential and return on invested capital. The process used to identify potential investments for the Fund includes three phases: financial analysis, business analysis and valuation analysis. Financial analysis evaluates an issuers capital allocation, and provides vital insight into historical and potential return on invested capital, which is a key indicator of business quality and caliber of management.
Business analysis allows the portfolio manager to determine an issuers competitive positioning by identifying key drivers of the issuer, understanding industry challenges and evaluating the sustainability of competitive advantages. Both the financial and business analyses serve as a basis to construct valuation models that help estimate an issuers value. The portfolio manager uses three primary valuation techniques: discounted cash flow, traditional valuation multiples and net asset value. At the conclusion of the research process, the portfolio manager will generally invest in an issuer when it has been determined it potentially has high or improving return on invested capital, quality management, a strong competitive position and is trading at an attractive valuation. The portfolio manager considers selling a security when it exceeds the target price, has not shown a demonstrable improvement in fundamentals or a more compelling investment opportunity exists.
IEMAX Performance
Total returns for IEMAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.6% |
| 3 years (annualised) | -4.4% |
IEMAX Risk Information
Risk metrics for IEMAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 22.1%
IEMAX Costs and Fees
IEMAX costs about $133 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.33%
- Gross expense ratio: 1.83%
- Portfolio turnover: 70%
- Brokerage commissions: 16.24 bps of average net assets (SEC N-CEN)
IEMAX Cashflows
Over the 12 months to 2023-04, Invesco Emerging Markets Equity Fund had net outflows of $14.08M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-04 | −$7.19M |
| 2023-03 | −$495.19K |
| 2023-02 | −$698.97K |
| 2023-01 | $622.28K |
| 2022-12 | −$712.04K |
| 2022-11 | −$931.48K |
IEMAX Debt Constituents
No individual debt constituents are reported in Invesco Emerging Markets Equity Fund's latest SEC N-PORT filing.
IEMAX Prospectus and SEC Filings
Official Invesco Emerging Markets Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-02-25
- Prospectus (485BPOS) — filed 2021-02-22
- Prospectus supplement (497) — filed 2023-03-03
- Portfolio holdings (N-PORT) — filed 2023-06-29
- Portfolio holdings (N-PORT) — filed 2023-04-03
- Portfolio holdings (N-PORT) — filed 2022-12-30
- Annual census (N-CEN) — filed 2023-01-13
- Annual census (N-CEN) — filed 2022-01-14
Related Funds
Other China Blend / Core Equity 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.