IZIAX — Invesco International Companies Fund
Data updated: 2023-09-28
IZIAX — Invesco International Companies Fund. China Blend / Core Equity · $7.45M AUM · 1.21% expense ratio. Holdings, fees, performance and SEC filings.
IZIAX Fund Overview
IZIAX — Invesco International Companies Fund is a US mutual fund managed by Aim International Mutual Funds (invesco International Mutual 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 International Mutual Funds (invesco International Mutual Funds)
- Category: China Blend / Core Equity
- Assets under management: $7.45M
- 1-year return: 7.2%
- Ticker: IZIAX
- SEC CIK: 0000880859
- SEC series ID: S000052140
- Share class ID: C000164117
IZIAX Investment Objective and Strategy
Invesco International Companies 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 primarily in equity securities and depositary receipts of foreign issuers of all capitalization sizes, including small and mid-capitalization 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). Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries outside of the U.S. The Fund may also invest up to 30% of its net assets in emerging markets countries, i.e., those that are in the early stages of their industrial cycles. 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 can invest in derivative instruments including forward foreign currency contracts, futures contracts and options. The Fund can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. 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 Fund can use options to mitigate risk and to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. The Fund does not intend to hedge the currency exposure created by its investments in foreign securities but has the ability to do so if deemed appropriate by the Funds portfolio managers. To achieve the Funds objective, the portfolio management team applies a rigorous bottom-up fundamental investment approach to analyze the quality and value of individual companies to determine whether or not to invest in them.
The portfolio management team looks for companies: That meet strict quality criteria That meet standards of management qualtiy That are believed to be attractively priced in relation to their intrinsic value As part of a comprehensive assessment of a companys intrinsic value, the team uses a variety of valuation methods and will typically review a companys financial information, competitive position and its future prospects. The team may also meet with the companys management and take into account general industry and economic trends. The team will then compare the intrinsic value that it has placed on the company against its current market price, and will consider investing where the market price is sufficiently lower than the value that the team has determined. The portfolio management team will typically sell a security under the following conditions: (1) where the price of the security increases to a level that the team considers to be at or near its intrinsic value, (2) where there are more attractive opportunities, or (3) where the original investment thesis for a company is no longer valid.
IZIAX Holdings
Top 10 holdings of Invesco International Companies Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Alibaba Group Holding Ltd. | 6.43% |
| Prosus N.V. | 6.25% |
| Eurofins Scientific S.E. | 5.95% |
| Corporate Travel Management Ltd. | 5.73% |
| Scout24 AG | 5.45% |
| Focus Media Information Technology Co., Ltd. | 5.38% |
| Gree Electric Appliances, Inc. of Zhuhai | 5.09% |
| Liberty Global PLC | 4.78% |
| Howden Joinery Group PLC | 4.05% |
| Samsung Electronics Co. Ltd. | 3.79% |
IZIAX Portfolio Allocation
Asset-class allocation of Invesco International Companies Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.0% |
| Cash & Equivalents | 2.1% |
IZIAX Performance
Total returns for IZIAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 7.2% |
| 3 years (annualised) | -4.4% |
IZIAX Risk Information
Risk metrics for IZIAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 23.7%
IZIAX Costs and Fees
IZIAX costs about $121 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.21%
- Gross expense ratio: 1.51%
- Portfolio turnover: 53%
- Brokerage commissions: 10.19 bps of average net assets (SEC N-CEN)
IZIAX Cashflows
Over the 12 months to 2023-07, Invesco International Companies Fund had net outflows of $152.41M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-07 | −$2.24M |
| 2023-06 | −$361.55K |
| 2023-05 | $126.60K |
| 2023-04 | $9.33K |
| 2023-03 | −$145.87M |
| 2023-02 | −$959.11K |
IZIAX Debt Constituents
No individual debt constituents are reported in Invesco International Companies Fund's latest SEC N-PORT filing.
IZIAX Prospectus and SEC Filings
Official Invesco International Companies 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 2021-02-26
- Portfolio holdings (N-PORT) — filed 2023-09-28
- Portfolio holdings (N-PORT) — filed 2023-06-28
- Portfolio holdings (N-PORT) — filed 2023-04-03
- 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.