Invesco Discovery Fund outperformed its benchmark in the first quarter. Performance was primarily driven by stock selection.
The largest contributors to absolute return for the quarter were Lumentum, Tower Semiconductor and Advanced Energy Industries.
At the security level, we added and removed several stocks to reflect our desired positioning and upgrade the portfolio.
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Key takeaways
1. The fund outperformed its benchmark in the first quarter
Performance was primarily driven by stock selection. Strength in information technology (IT) and industrials was partially offset by weakness in financials.
