Invesco Global Consumer Trends FundA-Acc Shares31 October 2020

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*Source: © 2020 Morningstar. Gross income re-invested to 31 October 2020 unless otherwise stated. The figures do not reflect the entry charge payable byindividual investors. All performance data on this factsheet is in the currency of the share class. Reference Benchmark Source: RIMES. Please refer to Page 3 forRisk Warnings and Important Information.

Summary of fund objectiveThe Fund aims to achieve long-term capitalgrowth from a global portfolio ofinvestments in companies predominantlyengaged in the design, production ordistribution of products and servicesrelated to the discretionary consumerneeds of individuals. For the full objectivesand investment policy please consult thecurrent prospectus.

Key facts

Ido CohenHoustonManaged fund sinceMay 2011

Juan HartsfieldHoustonManaged fund sinceJanuary 2009

Share class launch03 October 1994Original fund launch 03 October 1994Legal statusLuxembourg SICAV with UCITS statusShare class currencyUSDShare class typeAccumulationFund sizeUSD 2.76 bn Reference BenchmarkMSCI World Consumer Discretionary Index-NDBloomberg codeINVPGLI LXISIN codeLU0052864419Settlement dateTrade Date + 3 DaysMorningstar RatingTMAAAAA

Quarterly fund commentaryGlobal equity markets posted gains for the third quarter driven by solid performance in Julyand August even as September returns were negative. After many countries had somesuccess controlling the spread of COVID-19, a resurgence in global infections raised theprospect of new restrictions in some regions. In this market environment the fund posted adouble-digit positive return and outperformed its benchmark. Exposure to regional casinoswithin the hotels, restaurants & leisure industry were the leading driver of relativeoutperformance. With a streamlined operating model as a result of cost cutting efforts at theheight of the pandemic coupled with strong guest traffic trends as casinos reopened havedriven profitability to pre-COVID levels. E-Commerce and video game developers were alsoamong the leading drivers of relative outperformance as consumers increasingly embraceonline shopping for every day needs such as food and consumables, and excitement growsover the upcoming video game console cycle and video game releases. The rise of thecoronavirus has shaken investor confidence and will disrupt economic growth over the nearterm. In response to this rapidly evolving situation, central banks around the world are takingaction to provide economic support through monetary stimulus. We view the COVID-19outbreak as a transitory event that has brought market volatility, but also attractivevaluations for many equities as we look out beyond this event and on to the impact of thisstimulus. We believe several of our larger themes are well-positioned for the currentdisruptions to social contact, including eCommerce, video games and media streaming. Inthe months ahead we expect continued volatility and aim to remain nimble and takeadvantage of extreme dislocations.

Indexed performance*Fund Benchmark

10/15 10/16 10/17 10/18 10/19 10/2060

80

100

120

140

160

180

200

220

Data points are as at month end.

Cumulative performance*in % YTD 1 month 1 year 3 years 5 years

Fund 29.61 -1.40 34.49 49.37 105.84

Benchmark 14.38 -2.72 19.35 44.46 68.92

Quartile ranking 1 2 1 1 1

Absolute ranking 1/61 20/63 2/61 8/50 2/45

MStar Category: EAA Fund Sector Equity Consumer Goods & Services

Calendar year performance*in % 2015 2016 2017 2018 2019

Fund 1.83 9.09 34.28 -11.12 25.51

Benchmark 5.48 3.14 23.69 -5.51 26.57

Standardised rolling 12 month performance*31.10.15 31.10.16 31.10.17 31.10.18 31.10.19

in % 31.10.16 31.10.17 31.10.18 31.10.19 31.10.20

Fund 2.10 34.97 0.92 10.05 34.49

Benchmark -3.43 21.09 6.11 14.07 19.35Past performance is not a guide to future returns.

Invesco Global Consumer Trends FundA-Acc Shares31 October 2020

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Source: *Invesco. Portfolio weightings and allocations are subject to change. The weightings for each breakdown are rounded to the nearest tenth orhundredth of a percent; therefore, the aggregate weights for each breakdown may not equal 100%. The top 10 overweight and underweight positionsrepresent the largest weighting differences between the fund and the benchmark. **Morningstar.

Holdings and active weights* (total holdings: 66)

Top 10 holdings %

Amazon 10.2

Alibaba ADR 7.9

Penn National Gaming 6.4

Lowes 4.0

Caesars Entertainment 3.8

Sea ADR 3.7

JD.com ADR 3.5

Farfetch 'A' 3.1

Nintendo 3.0

Activision Blizzard 2.7

Top 10 overweight +

Alibaba ADR 7.9

Penn National Gaming 6.4

Caesars Entertainment 3.8

Sea ADR 3.7

JD.com ADR 3.5

Farfetch 'A' 3.1

Nintendo 3.0

Activision Blizzard 2.7

EPR Properties 2.4

Match 2.3

Top 10 underweight -

Amazon 14.7

Tesla 5.6

Home Depot 5.5

McDonalds 3.1

NIKE 'B' 2.9

Toyota Motor 2.7

LVMH Moet Hennessy Louis Vuitton 2.5

Starbucks 2.0

Target 1.5

TJX 1.2

Geographical weightings of the fund in %*

g United Statesg Chinag Japang Taiwang United Kingdomg Polandg Russiag Germanyg Othersg Cash

Sector weightings of the fund in %*

g Internet & DirectMarketing Retail

g Entertainmentg Hotels, Restaurants &Leisure

g Interactive Media &Services

g Specialty Retailg Household Durablesg Food & Staples Retailingg Equity Real EstateInvestment Trusts (REITs)

g Othersg Cash

NAV and fees Current NAVUSD 77.60 12 month price highUSD 82.08 (14/10/2020)12 month price lowUSD 39.88 (19/03/2020)Minimum investment 1

USD 1,500Entry charge Up to 5.00%Annual management fee1.5%Ongoing charges 2

1.87%

Geographical weightings*

in %Fund

Benchmark

United States 65.4 66.9

China 12.2 0.0

Japan 6.6 12.3

Taiwan 3.7 0.0

United Kingdom 3.1 2.5

Poland 2.1 0.0

Russia 1.7 0.0

Germany 1.4 4.4

Others 3.1 13.8

Cash 0.7 0.0

Sector weightings*

in %Fund

Benchmark

Internet & DirectMarketing Retail

28.2 30.7

Entertainment 22.8 0.0

Hotels, Restaurants &Leisure

16.2 12.7

Interactive Media &Services

8.2 0.0

Specialty Retail 7.5 15.2

Household Durables 3.2 5.8

Food & Staples Retailing 2.7 0.0

Equity Real EstateInvestment Trusts (REITs)

2.4 0.0

Others 8.0 35.6

Cash 0.7 0.0

Financial characteristics*

Average weighted market capitalisation USD 272.12 bn

Median market capitalisation USD 8.38 bn

3 year characteristics**Alpha -0.31

Beta 1.17

Correlation 0.96

Information ratio 0.14

Sharpe ratio 0.49

Tracking error in % 7.87

Volatility in % 25.64For detailed information about the 3 year characteristics please seehttp://assets.invescohub.com/invesco-eu/glossary.pdf.

Invesco Global Consumer Trends FundA-Acc Shares31 October 2020

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Risk Warnings

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may notget back the full amount invested. As this fund is invested in a particular sector, you should be prepared to accept greater fluctuations inthe value of the fund than for a fund with a broader investment mandate.

Important Information

1The minimum investment amounts are: USD 1,500 / EUR 1,000 / GBP 1,000 / CHF 1,500 / SEK 10,000. Please contact us orrefer to the most up to date Prospectus for details of minimum investment amounts in other currencies.2The ongoing charges figure is based on expenses for the year ending February 2020. This figure may vary from year to year. Itexcludes portfolio transaction costs except in the case of an entry or exit charge paid by the Fund when buying or sellingshares/units in another fund.

Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those ofother investment professionals and are subject to change without notice. This marketing document is not an invitation to subscribe forshares in the fund and is by way of information only, it should not be considered financial advice. This does not constitute an offer orsolicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such anoffer or solicitation. Persons interested in acquiring the fund should inform themselves as to (i) the legal requirements in the countries oftheir nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences. Aswith all investments, there are associated risks. This document is by way of information only. Asset management services are provided byInvesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictions where its promotion andsale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not all share classes are the samenor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependent on share class chosen.Please check the most recent version of the fund prospectus in relation to the criteria for the individual share classes and contact yourlocal Invesco office for full details of the fund registration status in your jurisdiction. This document is marketing material and is notintended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that requireimpartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade beforepublication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sellsecurities. Please refer to the most up to date relevant fund and share class-specific Key Investor Information Document, the latestProspectus and Annual or Interim Short Reports for more information on our funds. UK based investors should also refer to the relevantSupplementary Information Document. This information is available using the contact details shown. Issued in Jersey and Guernsey byInvesco Management S.A., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission deSurveillance du Secteur Financier, Luxembourg. In Guernsey the fund can only be promoted to Professional Clients. Issued in the UK byInvesco Management S.A., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission deSurveillance du Secteur Financier, Luxembourg. For the purposes of UK law, the fund is a recognised scheme under section 264 of theFinancial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do notapply to offshore investments. Compensation under the UK’s Financial Services Compensation Scheme will not be available and UKcancellation rights do not apply. Issued in Dubai for Professional Clients only by Invesco Asset Management Limited, PO Box 506599,DIFC Precinct Building No 4, Level 3, Office 305, Dubai, United Arab Emirates. Regulated by the Dubai Financial Services Authority.

© 2020 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its contentproviders are responsible for any damages or losses arising from any use of this information.