^

https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301https://www.invesco.com.hk/ap-public/retail/en_HK?utm_cam-paign=HK-OBOR&utm_medium=qr-print&utm_source=brochure&utm_content=eng&cd_sp=NA&cd_dt=20180301

Important information:• The Fund invests primarily in debt securities whose issuers, guarantors and/or domiciled countries could or would directly or indirectly benefit from China’s Belt

and Road vision of increasing land and sea paths to connect Asia, Europe, Middle East and Africa and their adjacent seas for closer economic co-operation.• Investors should note the general investment risk, risk of misalignment between the Fund’s investment theme and the Belt and Road vision, risks of investing in

companies related to the Belt and Road Initiative, emerging markets, liquidity risk, sovereign debt risk, portfolio turnover risk, Eurozone risk, hedged unit classes risk, RMB class(es) related risk, counterparty risk, and currency and foreign exchange risk.

• Debt Securities is subject to (a) interest rate risk; (b) credit risk (including default risk, credit rating risk, credit rating downgrading risk and liquidity risk); (c) risks relating to below investment grade and unrated securities; and (d) valuation risk.

• Financial derivative instruments may be used for hedging. The use of derivatives may become ineffective and the Fund may suffer significant losses.• For Monthly Distribution-1 unit class (MD1), (a) the Fund Manager may at discretion pay distributions out of the capital and/or effectively out of capital amounts

to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the net asset value per unit in respect of such unit class after the distribution date; (b) Investments in MD1 are not an alternative to a savings account or fixed-interest paying investment, investors may not be able to get back the original investment amount; and (c) The fixed amount of distributions per month is subject to risk of exchange rate fluctuations. (Note 1)

• In addition, investors of MD-1 that are currency hedged (MD1 hedged) should be aware of the uncertainty of relative interest rates. The net asset value of the MD1 hedged may fluctuate and may significantly differ from other unit class due to fluctuation of the interest rate differential between the currency in which the MD1 hedged is denominated and the base currency of the Fund and may result in a greater erosion of capital than other non-hedged unit class. (Note 2)

• The value of the Fund can be volatile and could go down substantially.• Investors should not base their investment decision on this material alone.

* Invesco Belt and Road Bond Fund is the first Belt and Road bond fund in Hong Kong. ** Source: Invesco, as of 29 Mar 2018. Annualized dividend (%) since inception (Mar 1, 2018) = (Fixed distribution amount per unit per month X 12) ÷ Price on record date. Positive dividend yield does not imply positive return. ^ Source: How Big is the Belt and Road, HKTDC Belt and Road Portal, February 15, 2017.

Invesco Belt and Road Bond Fund

Accelerating your access to Belt and Road investments

Learn more

MD1 Unit Class Annualized dividend yield**(%) for March 2018

6.02%6.01%7.98%

Fixed distribution amount(per unit per month)

Dividend rate is not guaranteed. Dividend may be paid out of the capital. Refer to Note 1 and 2 of the above Important Information.

Dividend Information for March 2018

A(USD)-MD1A(HKD)-MD1A(RMB Hgd)-MD1

USD 0.05HKD 0.5RMB 0.6666

Source : World Bank, Invesco; February 2018.

Silk Road Economic Belt21st Century Maritime Silk Road

Belt & Road : a sustainable and powerful initiative

What is the “Belt and Road” initiative?The “Belt and Road” initiative is a systemic initiative and significant development strategy launched by the Chinese government to promote the land and sea connectivity along Asia, Europe, Middle East, and Africa (“the Belt and Road Region”), establishing and strengthening economic partnerships and cooperation along these regions1.

“ The Belt and Road initiative is set to reinvigorate the seamless flow of capital, good and services between Asia and the rest of the world”

^

Invesco Belt and Road Bond Fund

Hong Kong Trade Development Council (HKTDC), February 2018

Five major investment themes of the “Belt and Road” initiative2

Improving financial strength

Rising consumption sectors

Modernizing economic corridors

Expanding infrastructure network

Improving energy, commodities, agriculture and basic materials production

^ Source: How Big is the Belt and Road, HKTDC Belt and Road Portal, February 15, 2017.

Why “Belt and Road” bonds? • Large market size: over US$1 trillion international bonds issued along “Belt and Road”3 enable active managers a rich universe

to capture potential excess return.• Strong financial commitments by Chinese institutions: Belt and Road has already fetched more than US$600 billion from major

Chinese institutions4. We expect China to invest US$150-200 billion annually in the B&R countries for the foreseeable future. • Attractive total return potential: economic improvement tends to benefit both government and corporate bond issuers along

“Belt and Road”, leading investors to find higher interest income and capital gains from selective bonds.• First mover advantage: early investors have priority to capture investment opportunities arising from this significant initiative.

Invesco Belt and Road Bond Fund : diversified exposure to potential income and growth

Attractive yield opportunities • The Fund will primarily invest in sovereign bonds, quasi-sovereign bonds, investment grade and high yield corporate bonds

denominated in major currencies such as USD, EUR, GBP and CNH from Asia, Africa, Middle East and Europe5 (Chart 1). • Allocate between investment grade debt securities and high yield bonds.

1

Total return investment style• Dynamic interest rate hedging aims to minimize the negative impacts of rising interest rates.• Benchmark unconstrained.• Active country allocations (Chart 2).

3

Capital growth potential • Selection of bonds whose issuers could benefit from the “Belt and Road” initiative.• To ensure successful new bond issuances, issuers are usually willing to pay new issue premiums (in general, they issue

bonds with higher yields compared to bonds with similar maturities, credit ratings and industries in the secondary market). The new issue premiums may lead to capital gain potential.

2

Diversified exposure in bonds benefiting from the“Belt and Road” initiative to generate potential income

Chart 1

The chart does not represent the whole investment universe and is for illustrative purpose only. Subject to change without further notice.

Sovereign bonds and quasi-sovereign bonds

Investment gradeand high yield corporate bonds

Invesco Belt andRoad Bond Fund

Top 10 Holdings (Source: Invesco, as of March 29, 2018)

Holdings are subject to change without notice.

Chart 2

Holding

Pakistan (Islamic Republic Of) 7.875% Mar 31 36Tullow Oil Plc 7% Mar 01 25Perusahaan Listrik Negara (Persero) 4.125% May 15 27Kazakhstan Temir Zholy Finance Bv 6.95% Jul 10 42Standard Chartered Plc 7.75% Dec 31 49Seplat Petroleum Development Compa 9.25% Apr 01 23Ghana (Republic Of) 10.75% Oct 14 30Nigeria (Federal Republic Of) Mtn 6.5% Nov 28 27Lafargeholcim Finance US Llc 3.5% Sep 22 26Mongolia (Government Of) Mtn 8.75% Mar 09 24

Market %

Pakistan 4.5

Ghana 3.2Indonesia 3.1

Kazakhstan 3.0

United Kingdom 2.9

Nigeria 2.9

Ghana 2.9

Nigeria 2.7

Switzerland 2.5

Mongolia 2.4

Sources1 National Development and Reform Commission, March 2015; HKTDC Research “The Belt and Road Initiative”, September 2017.2 Investment themes for illustrative purpose only. Based on current market conditions and subject to change without notice. 3 Bloomberg, HSBC, JP Morgan and Invesco, data as of August 10, 2017.4 Source: The State Council Information Office of the People’s Republic of China, China Construction Bank, Agriculture Bank of China, Postal Saving Bank of China, Bank of China,

China Development Bank, AsianInvestor, finance.ifeng.com, data as of 31 Jan 2018.5 It does not represent the whole investment universe and there is no assurance that the above aim will be achieved. Please refer to the fund's offering documents for the fund's detailed objectives and investment strategy.6 Invesco, as of December 31, 2017. Subject to change without notice. Invesco Fixed Income does not include all the fixed income entities within Invesco Ltd., and is not limited to those fixed

income assets within the GIPS®-compliant firm Invesco Worldwide; therefore, the assets under management reported here for Invesco Fixed Income may not match the fixed income assets reported in the Invesco earnings statement.

Important informationAll data is as of March 31, 2018 and sourced from Invesco unless otherwise stated. Portfolio weightings and allocations are subject to change. Investment involves risks. Past performance is not indicative of future performance. Investors should read the relevant prospectus for details, including the risk factors and product features.This document contains statements that are ”forward-looking statements,” which are based on certain assumptions of future events. Forward-looking statements are based on information available on the date hereof, and Invesco does not assume any duty to update any forward-looking statement. Actual events may differ from those assumed. There can be no assurance that forward-looking statements, including any projected returns, will materialize or that actual market conditions and/or performance results will not be materially different or worse than those presented.This document has not been reviewed by the Securities and Futures Commission of Hong Kong and is issued by Invesco Hong Kong Limited（景順投資管理有限公司）.

† The awards reflect the assessment by BENCHMARK recognizing the top performing mutual funds using quantitative analysis of performance and risk management of their past 12 months, 3 and 5 years, with data ending September 30, 2017. Top Mutual Funds “Best-in-Class” Winners refer to Invesco Asian Bond Fund C (USD) Acc Shares. Manager of the Year in Asia Fixed Income award was given to Ken Hu. All awards are for reference only. Since the selection criteria are not limited to the fund performance, the award ranking may not fully match the actual performance of the funds.

Invesco Fixed Income (IFI) team manages assets of approximately US$312.1 billion (as of December 31, 2017). As part of IFI, Ken Hu won “Manager of the Year” from the Benchmark Fund of the Year Awards 2017.

Benchmark Fund of the Year Awards 2017†

Ken Hu, Lead ManagerChief Investment Officer, Fixed Income, Asia Pacific

Over 20 years of industry experience

AUMUS$312.1billion

fixed incomeinvestmentprofessionals170 10

2018

04(A

P370

)

An award-winning, experienced team of investment professionals

Invesco Funds Hotline

3191 8282Invesco Distributors Hotline

3191 8000Websitewww.invesco.com.hk

^ MD Unit – Aims to pay dividend on monthly basis, dividend rate is not guaranteed. Positive dividend yield does not imply positive return.^^ MD1 Unit – Fixed distribution amount (per unit per month). Dividend may be paid out of the capital. Refer to Note 1 and 2 of the Important Information on the cover page.

Dividend rate is not guaranteed. Positive dividend yield does not imply positive return. # Fees can be increased up to the specified permitted maximum level as set out in the Prospectus by giving not less than one month’s notice to the investors. Maximum

management fee: 2.50% p.a..

Fund details

Launch date

The Fund is a thematic product which aims to achieve long-term total returns in terms of both income and capital growth by investing primarily in debt securities whose issuers, guarantors and/or domiciled countries could or would directly or indirectly benefit from China’s Belt and Road vision of increasing land and sea paths to connect Asia, Europe, Middle East and Africa and their adjacent seas (the “Belt and Road Region”) for closer economic co-operation (the “Belt and Road Initiative”).

Investment objective

A(USD)-Acc UnitA(USD)-MD Unit^A(USD)-MD1 Unit^^A(HKD)-MD Unit^A(HKD)-MD1 Unit^^A(RMB HGD)-MD1 Unit^^A(SGD HGD)-MD1 Unit^^

-USD 0.0016USD 0.0500HKD 0.0151HKD 0.5000RMB 0.6666SGD 0.0416

Unit classes available

HK0000395894HK0000395902HK0000395910HK0000395928HK0000395936HK0000395944HK0000395951

ISIN code

IBRBAUA HKIBRAUMD HKIBRBAUM HKIBRBAHM HKIBRAHMD HKIBRBARH HKIBRBASH HK

Bloomberg code

USD 10.00USD 10.00USD 10.00HKD 100.00HKD 100.00RMB 100.00SGD 10.00

Launch price

Lead manager - Ken Hu; Co-managers - Chris Lau, Jackson Leung, Yifei DingFund manager

Class A Unit: 1.25% p.a.Management fee#

March 1, 2018

Base currency USD

MANAGER OF THE YEAR• Invesco Asian Fixed Income Team

Invesco Fixed Income : strong global resources and experience6

BEST-IN-CLASS• Asia Fixed Income

locations in key markets

Distribution Amount Per Unit - March 2018

(Soure: Invesco, as of Mar 29, 2018