Summary

• Invesco International Value Fund Class A Shares had a positive return for the quarter and outperformed the MSCI ACWI ex USA Value Index.
• Global equities experienced a volatile first quarter as renewed tariff measures, concerns about technology spending and geopolitical escalation in the Middle East appeared to shift investor focus from growth to inflation risks.
• As of quarter end, the fund held 53 high-quality companies that we believe are trading at appreciable discounts to their intrinsic values.

Key takeaways

1 The fund outperformed its benchmark

Invesco International Value Fund Class A Shares had a positive return for the quarter and outperformed the MSCI ACWI ex USA Value Index. Weakness in financials, energy and consumer

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