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Invesco Global Opportunities Fund Quarterly Performance Update


									                                                                Invesco Global Opportunities Fund
                                                                International/global blend
                                                                Data as of March 31, 2013

Fund Facts                                                      How does the fund fit into your portfolio?
Investment objective and strategy                               n Long-term, high conviction portfolio management. Portfolio managers seek compelling long-term investment
The fund seeks long-term growth of capital by                     opportunities that are vetted through a rigorous investment process resulting in a concentrated portfolio of
primarily investing in equity securities of domestic              40-to-60 holdings.
and foreign issuers.                                            n Bottom-up stock pickers. Unconstrained investors apply a stock-driven approach that focuses on absolute
                                                                  valuation and build a deep knowledge of the company.
Portfolio management                                            n Truly global approach. Regional experts draw on deep knowledge of local markets to identify attractive
Nick Mustoe, Stephen Anness                                       opportunities from around the world.
Nasdaq                 A: IAOPX C: ICOPX Y: IYOPX               n Diversification. With no constraints on sector, style, market cap or geography, the fund can serve as a
                      R: IROPX R6: IFOPX R5: IIOPX                standalone global equity fund or as a diversifier when blended with other choices.
Total Net Assets                              $6,644,244
                                                                Investment Results
Total Number of Holdings                              46
                                                                Cumulative Total Returns (%)                                                                              as of March 31, 2013
Annual Turnover (as of 10/31/12)                      9%                                   Class A Shares           Class C Shares              Class Y Shares              Style-Specific
                                                                                        Inception: 08/03/12      Inception: 08/03/12         Inception: 08/03/12                Index
Top Equity Holdings                    % of Total Net Assets
Novartis AG                                            5.28                            Max Load                 Max CDSC
                                                                Period                  5.50%       NAV          1.00%       NAV                    NAV                 MSCI AC World Index
Thomas Cook Group Plc                                  4.61
                                                                Inception                18.53      25.40         23.78      24.78                 25.62                              -
Roche Holding Ltd.                                     4.38
                                                                Quarter                    2.98      9.01          7.87       8.87                  9.09                          6.50
HSBC Holdings plc                                      3.76
                                                                Performance quoted is past performance and cannot guarantee comparable future results; current
Citigroup Inc.                                         3.42     performance may be lower or higher. Visit for the most recent month-end
Johnson & Johnson                                      3.06     performance. Performance figures reflect reinvested distributions and changes in net asset value (NAV).
                                                                Investment return and principal value will vary, and you may have a gain or a loss when you sell shares. Index
Samsung Electronics Co. Ltd.                           2.91     returns do not reflect any fees, expenses or sales charges. No contingent deferred sales charge (CDSC) will be
Microsoft Corp.                                        2.87     imposed on redemptions of Class C shares following one year from the date shares were purchased.
                                                                Performance shown at NAV does not include applicable CDSC or front-end sales charges, which would have
Hutchison Whampoa Ltd.                                 2.83     reduced the performance. No contingent deferred sales charge (CDSC) will be imposed on redemptions of
BAE Systems plc                                        2.75
                                                                Class C shares following one year from the date shares were purchased. Performance shown at NAV does not
                                                                include applicable CDSC or front-end sales charges, which would have reduced the performance. Class Y
Holdings are subject to change and are not buy/sell             shares have no sales charge; therefore, performance is at NAV. Please note: The fund has been in existence
recommendations.                                                for less than one year; cumulative performance may not be indicative of the fund’s long-term performance
Top Countries
                                                                Index sources: Invesco, Russell via FactSet Research Systems Inc.
United States                                         33.50
United Kingdom                                        17.60     Calendar-Year Total Returns (%)                                                           Class A Shares Excluding Sales Charge
Switzerland                                           11.16     20
Hong Kong                                              5.75
Japan                                                  4.74
Spain                                                  4.59
South Korea                                            4.38                                                                                                                               9.01
France                                                 3.41
China                                                  2.66
Guernsey                                               2.36
                                                                     N/A        N/A        N/A        N/A        N/A       N/A         N/A          N/A         N/A
Holdings are subject to change and are not buy/sell              0
recommendations.                                                     2003      2004       2005       2006       2007       2008        2009        2010        2011        2012           YTD
Expense Ratios                        % Net           % Total   Inception year is 2012. Return for inception year 2012 is a partial-year return.
Class A Shares                        1.36             3.49
Class C Shares                        2.11             4.24
                                                                About risk
Class Y Shares                        1.11             3.24     An investment in emerging market countries carries greater risks compared to more developed economies.
Per the current prospectus                                          The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and
   Net = Total annual operating expenses less any               economic instability, and foreign taxation issues.
contractual fee waivers and/or expense reimbursements by            The investment techniques and risk analysis used by portfolio managers may not produce desired results.
the adviser in effect through at least Feb. 28, 2014. See           Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more
current prospectus for more information.                        volatile, and may be illiquid or restricted as to resale.
                                                                Class Y shares are available only to certain investors. See the prospectus for more information.
                                                                    The fund holdings are organized according to the Global Industry Classification Standard, which was developed by
                                                                and is the exclusive property and service mark of MSCI Inc. and Standard & Poor’s.
                                                                    Asset allocation/diversification does not guarantee a profit or eliminate the risk of loss.
                                                                    The MSCI AC World Index is an index considered representative of stock markets of developed and emerging
                                                                markets. An investment cannot be made directly in an index.
                                                                    12-month forward and trailing P/E are calculated using weighted harmonic averaging, which helps avoid extreme
                                                                results that may occur due to small relative numbers in the denominator. It doesn’t exclude extreme values; instead,
                                                                it reduces the effect of outliers on the aggregate calculation. The price/book ratio is the market price of a stock
                                                                divided by the book value per share. Return on equity (ROE) is net income divided by net worth. The median 12-
                                                                Month Fwd. Growth Rate is the percent change between the next twelve months' mean EPS estimate and the
                                                                previous twelve months' actuals. The three-year EPS growth rate is a weighted average of each stock holding's
                                                                growth rate in earnings per share (EPS). EPS is total earnings divided by the number of shares outstanding. This
                                                                measurement is not a forecast of the fund's performance.The five-year dividend growth rate is the weighted
                                                                average of each stock holding's annualized percentage rate of growth in dividend yield over five years. This
                                                                measurement is not a forecast of the fund's performance.
                                                                    All data provided by Invesco unless otherwise noted. For US use only.
                                    Portfolio Characteristics: Fund vs. MSCI AC World Index
                                    Valuation Statistics                             Equity Sector Breakdown                               % of Total Net Assets
                                                                            Fund        Index      Market Sector                              Fund          Index
                                    12-Month Forward P/E                  11.78        12.94       Industrials                             23.69          10.51
                                    12-Month Trailing P/E                 13.87        14.53       Consumer Discretionary                  18.61          10.90
                                    Price/Book (Wtd. Avg.)                 2.70         3.02       Financials                              16.09          21.22
                                    1-Year ROE (Wtd. Avg.)                14.07        16.87       Information Technology                  15.69          11.93
                                    12-Month Fwd. Growth                  12.19        11.91       Health Care                             14.93           9.89
                                    Rate (Median) (%)                                              Energy                                   3.81          10.24
                                    3-Year EPS Growth Rate                20.71        17.09       Consumer Staples                         3.30          10.73
                                    (Wtd. Avg.) (%)
                                                                                                   Telecommunication Services               1.62           4.22
                                    5-Year Dividend Growth                 0.85         5.74
                                    Rate (Wtd. Avg.) (%)                                           Materials                                1.55           6.85
                                    Weighted Average Market             76,820       76,322        Utilities                                0.00           3.44
                                    Cap ($MM)                                                      Sources: Invesco, MSCI
                                    Weighted Median Market              40,342       39,198        Capitalization Breakdown                          % of Equities
                                    Cap ($MM)
                                                                                                                                              Fund          Index
                                    Sources: Invesco, Compustat, Thomson Financial, MSCI,          Giant                                   49.58          52.73
                                                                                                   Large                                   20.20          34.21
                                    Asset Mix (%)
                                                                                                   Mid                                     22.02          12.98
                                                                     at 03/31/13 at 03/31/12
                                    Int'l Common Stk                      65.11                -   Small                                    8.19           0.08
                                    Domestic Common Stk                   33.50                -   Micro                                    0.00           0.00
                                    Cash                                    1.67               -   Based on Morningstar capitalization ranges
                                    Other                                  -0.28               -   Geographic Diversification              % of Total Net Assets
                                    A negative allocation to Cash or Other, as of the date
                                    shown, is normally due to fund activity that has accrued       Europe                                                 46.32
                                    or is pending settlement.                                      Asia                                                   18.88
                                                                                                   Latin America                                           0.00
                                                                                                   Africa/Middle East                                      0.00
                                                                                                   North America                                          34.10

                                                                                                   Developed Market Exposure                              90.90
                                                                                                   Emerging Markets Exposure                               8.40

                                    NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE
                                    Before investing, investors should carefully read the prospectus and/or summary prospectus
                                    and carefully consider the investment objectives, risks, charges and expenses. For this and
                                    more complete information about the fund(s), investors should ask their advisors for a
                                    prospectus/summary prospectus or visit
                                      Note: Not all products available at all firms. Advisors, please contact your home office.

Invesco Global Opportunities Fund                GLOPP-PC-1                          04/13      Invesco Distributors, Inc.
Quarterly Performance Update

Invesco Global Opportunities Fund
Data as of March 31, 2013

Performance summary
n In the first quarter, the fund’s Class A shares at net asset value (NAV) posted a gain and outperformed the MSCI AC World Index. (Please see the
  returns table on page 1 for fund and index performance.)
n Stock selection in the consumer discretionary sector was a key driver of the fund’s strong outperformance compared to the benchmark. Limited
  exposure to the materials sector, which suffered a reversal during the quarter, also contributed to fund performance. Stock selection in information
  technology detracted from relative performance. An underweight in consumer staples, the benchmark’s second best performer this quarter, also
  had a negative effect.
n The fund continued to achieve favorable results in Europe, the fund’s largest regional overweight, buoyed by strong stock selection. A continued
  underweight in the US, which had strong returns during the quarter, detracted from fund performance.

Contributors to performance
- UK-based tour promoter Thomas Cook Group PLC continued to deliver strong results during the quarter (4.61% of total net assets). Shares soared as
  much as 12% on March 13, after the company’s new management team unveiled an ambitious growth strategy that aims to improve profits by more
  than $520 million by 2015. The plan includes additional cost savings, slashing store numbers and focusing on web sales.
- In addition to strong earnings results released in January, shares of Swiss pharmaceutical company Novartis AG rose on news of the surprise
  retirement of Chairman Daniel Vasella (5.28% of total net assets). The retirement represents a change in a non-executive position, but markets hope
  it signals a possible change in strategic direction, with greater shareholder focus.

Detractors from performance
- Indra Sistemas SA is a Spanish company that provides information technology solutions and consultancy services in more than 120 countries (1.16%
  of total net assets). Its share price fell during the quarter, as the company cut back its dividend pay-out ratio to 40% in order to accommodate
  shareholders without increasing the company’s debt burden. General Eurozone nervousness, as well as more specific concerns about Spain’s
  challenging economic landscape, also drove the stock lower.
- Reflecting a more challenging Chinese retail market, Daphne International Holdings saw weaker same store sales over the quarter (1.59% of total net
  assets). These results are largely consistent with the sluggish macro demand and were in line with market consensus. The results do not alter our
  long-term investment case for the firm.

Top contributors and detractors
Contributors                        (%) of Total Assets                               Detractors                              (%) of Total Assets
1.   Thomas Cook Group PLC                                       4.61                 1. Daphne International Holdings                              1.59
2.   Novartis AG                                                 2.28                 2. Indra Sistemas SA                                          1.16
3.   Roche Holdings AG                                           4.38                 3. Baidu Inc.                                                 1.07
4.   Trauson Holdings                                            0.00                 4.Hon Hai Precision Industry Co. Ltd.                         1.36
5.   Johnson & Johnson                                           3.06                 5. Tokyo Electron Ltd.                                        1.80

Positioning and outlook
- During the quarter, we sold positions in energy and financials and added positions in consumer discretionary and health care.
- At the end of the first quarter, the fund’s largest sector exposure continued to be industrials. The largest country exposures were the UK and
  Switzerland. The cash position edged slightly lower to 1.62% at quarter end.
- Portfolio management is dedicated to fundamental stock picking, focused on seeking the most attractive equity investment ideas from anywhere in the
  world, through fundamental bottom-up research, unconstrained by geography, sector or capitalization.

  Opinions expressed are those of the fund’s portfolio management. Holdings are subject to change and are not buy/sell recommendations.

All 3 pages of this document, including the fund fact sheet beginning on page 1, must be used together.
                                                                                      GLOPP-UPD-1-E                  04/13

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