Summary

• Invesco Global Allocation Fund Class A shares at net asset value (NAV) delivered a positive return in the first quarter and outperformed its blended benchmark, the Custom Invesco Global Allocation Index.
• From a top-down allocation perspective, the primary contributors to relative return were an allocation to developed ex-US tactical factor equities and the fund's short-term duration positioning within US fixed income.
• From a top-down allocation perspective, the primary detractors from relative return were allocations to US small and mid-cap equities and emerging market fixed income.

Key takeaways

1 The fund's developed ex-US tactical factor equities were a positive contributor

The fund's allocation to Invesco International Developed Dynamic Multifactor ETF (IMFL) was the top contributor to relative return for the