Summary

• Invesco Global Focus Fund underperformed the benchmark, primarily due to sector allocations. Both the fund's Class A shares and the MSCI ACWI Growth Index declined for the quarter.
• We remain focused on identifying high-quality companies with sustainable competitive advantages that we believe are positioned to benefit from long-term structural growth trends.
• We purchase positions at prices that we find attractive relative to their long-term value.

Key takeaways

1 The fund underperformed its benchmark for the quarter Both the fund's Class A shares and the MSCI ACWI Growth Index declined for the quarter. The fund underperformed the benchmark, primarily due to sector allocations.