invesco funds interim report - banco...

Invesco Funds Interim ReportSociété d’Investissement à Capital Variable

For the six months ended 31 August 2013 (unaudited)

(R.C.S. Luxembourg B34457)

Registered Office: 2-4 rue Eugène Ruppert, L-2453 Luxembourg

No subscription can be accepted on the basis of financial reports alone. Subscriptions, in order to be valid, must be made on the basis of the currentProspectus supplemented by a copy of the latest available Audited Annual Report and a copy of the latest Unaudited Semi-Annual Report, if later than suchAudited Annual Report.

Copies of the Prospectus, Audited Annual Report and Unaudited Semi-Annual Report may be obtained at the Registered Office of the Company (InvescoFunds), 2-4 rue Eugène Ruppert, L-2453 Luxembourg, as well as from the offices of the Global Distributor in Dublin. Notices of all General Meetings will bepublished in the Luxemburger Wort and, to the extent required by law, in the Mémorial, Recueil des Sociétés et Associations (“Mémorial”) and will be sent toholders of registered Shares at their address in the Register of Shareholders by post at least 8 days prior to meetings. In the event of any discrepancy betweentranslations from English text into foreign languages, please note that the English text will prevail.

Equalisation is calculated for tax reporting purposes and is not disclosed in the Audited Annual or Interim Reports.

03 Invesco Funds

Page(s)Statement of Investments

Equity Funds

GlobalInvesco Global Structured Equity Fund 05Invesco Emerging Market Quantitative Equity Fund 07Invesco Global Smaller Companies Equity Fund 10Invesco Global Equity Income Fund 15

AmericaInvesco Latin American Equity Fund 17Invesco US Structured Equity Fund 19Invesco US Value Equity Fund 21Invesco US Equity Fund 23

EuropeInvesco Pan European Structured Equity Fund 25Invesco Pan European Equity Fund 27Invesco Pan European Small Cap Equity Fund 29Invesco European Growth Equity Fund 32Invesco Pan European Equity Income Fund 34Invesco Emerging Europe Equity Fund 36Invesco Pan European Focus Equity Fund 38

JapanInvesco Nippon Small/Mid Cap Equity Fund 39Invesco Japanese Equity Advantage Fund 41Invesco Japanese Value Equity Fund 42

AsiaInvesco Asia Opportunities Equity Fund 44Invesco Greater China Equity Fund 46Invesco Asia Infrastructure Fund 48Invesco India Equity Fund 50Invesco Asia Consumer Demand Fund 52Invesco China Focus Equity Fund 54Invesco Asian Focus Equity Fund 55

Theme FundsInvesco Global Leisure Fund 57Invesco Energy Fund 59Invesco Global Income Real Estate Securities Fund 60Invesco Gold & Precious Metals Fund 64

Reserve FundsInvesco USD Reserve Fund 65Invesco Euro Reserve Fund 66

Contents

04 Invesco Funds

Bond FundsInvesco Global Bond Fund 67Invesco European Bond Fund 69Invesco Absolute Return Bond Fund 71Invesco Euro Inflation-Linked Bond Fund 72Invesco Euro Corporate Bond Fund 73Invesco UK Investment Grade Bond Fund 77Invesco Emerging Local Currencies Debt Fund 79Invesco Global Investment Grade Corporate Bond Fund 81Invesco Global Unconstrained Bond Fund 83Invesco Global Total Return (EUR) Bond Fund 84Invesco Emerging Market Corporate Bond Fund 85Invesco Euro Short Term Bond Fund 87Invesco Asian Bond Fund 89Invesco US High Yield Bond Fund 91Invesco Renminbi Fixed Income Fund 96

Mixed FundsInvesco Capital Shield 90 (EUR) Fund 98Invesco Asia Balanced Fund 99Invesco Pan European High Income Fund 103Invesco Global Absolute Return Fund 109Invesco Balanced-Risk Allocation Fund 110

Financial Statements

Statement of Net Assets 111-119

Net Asset Values 120-126

Notes to the Financial Statements 127-155

Other Information 156-157

Board of Directors 158

Organisation 158

Contents

Investment Nominal/Shares Market Value Net AssetsUSD %

TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET

EQUITIESAUSTRALIAAmcor Ltd 261,978 2,440,316 1.77Caltex Australia Ltd 23,471 395,509 0.29carsales.com Ltd 73,665 733,930 0.53CSL Ltd 37,110 2,255,701 1.64DuluxGroup Ltd 130,132 524,656 0.38Flight Centre Ltd 58,933 2,474,793 1.79Primary Health Care Ltd 131,413 606,767 0.44Ramsay Health Care Ltd 39,864 1,329,596 0.96Suncorp Group Ltd 216,987 2,388,811 1.73Tatts Group Ltd 106,459 305,017 0.22Telstra Corp Ltd 532,275 2,333,935 1.69Wesfarmers Ltd 60,772 2,209,758 1.60Woolworths Ltd 71,180 2,267,824 1.64

20,266,613 14.68

BERMUDAEverest Re Group Ltd 6,000 824,160 0.60Marvell Technology Group Ltd 68,800 826,632 0.60

1,650,792 1.20

CANADAAgnico-Eagle Mines Ltd 42,200 1,285,829 0.93Aimia Inc 23,300 354,199 0.26Atco Ltd 13,600 556,635 0.40Canadian Oil Sands Ltd 100,100 1,938,380 1.41Canadian Utilities Ltd 5,400 174,442 0.13Cineplex Inc 6,800 252,176 0.18Dollarama Inc 8,100 577,985 0.42Empire Co Ltd 4,500 345,096 0.25Encana Corp 139,200 2,380,003 1.73Husky Energy Inc 80,100 2,272,777 1.65Methanex Corp 12,600 594,442 0.43Metro Inc 23,800 1,515,058 1.10National Bank of Canada 32,000 2,501,609 1.81ShawCor Ltd 11,100 439,174 0.32Yamana Gold Inc 107,700 1,238,023 0.90

16,425,828 11.92

DENMARKColoplast A/S 40,548 2,191,461 1.59GN Store Nord A/S 100,190 2,056,587 1.49Novo Nordisk A/S 14,821 2,501,041 1.81

6,749,089 4.89

FRANCETeleperformance 23,618 1,082,525 0.78

GERMANYFreenet AG 34,366 814,650 0.59

HONG KONGPower Assets Holdings Ltd 45,000 387,453 0.28

ISRAELBezeq The Israeli Telecommunication Corp Ltd 777,308 1,274,388 0.92

JAPANAstellas Pharma Inc 25,400 1,302,199 0.94COMSYS Holdings Corp 43,000 534,380 0.39Dai Nippon Printing Co Ltd 210,000 2,040,984 1.48Daihatsu Motor Co Ltd 22,000 413,298 0.30FamilyMart Co Ltd 52,400 2,204,898 1.60Kewpie Corp 28,400 429,138 0.31Namco Bandai Holdings Inc 85,900 1,371,024 0.99Nippon Express Co Ltd* 304,000 1,425,435 1.03Nippon Telegraph & Telephone Corp 46,500 2,363,825 1.71Suzuken Co Ltd 19,700 608,291 0.44

Invesco Global Structured Equity Fund

Statement of Investments as at 31 August 2013

05 Invesco Funds


JAPAN (continued)Tokyo Gas Co Ltd 467,000 2,420,354 1.75USS Co Ltd 4,900 612,687 0.44West Japan Railway Co 54,900 2,269,565 1.65

17,996,078 13.03

NEW ZEALANDTelecom Corp of New Zealand Ltd 596,791 1,053,778 0.76

NORWAYMarine Harvest ASA 1,194,356 1,122,178 0.81

SINGAPOREComfortDelGro Corp Ltd 440,000 635,271 0.46StarHub Ltd 209,000 687,966 0.50

1,323,237 0.96

SWITZERLANDRoche Holding AG 9,534 2,395,460 1.74

UNITED KINGDOMAmdocs Ltd 57,800 2,127,907 1.54AstraZeneca Plc 44,815 2,217,553 1.61De La Rue Plc 32,708 504,124 0.37Mondi Plc 121,984 1,878,704 1.36Next Plc 33,973 2,598,488 1.88Reed Elsevier Plc 202,258 2,523,216 1.83Rightmove Plc 5,227 188,676 0.14Royal Dutch Shell Plc 66,002 2,140,713 1.55WH Smith Plc 73,190 958,730 0.70William Hill Plc 91,929 595,044 0.43

15,733,155 11.41

UNITED STATESAmerisourceBergen Corp 43,900 2,508,665 1.82Amgen Inc 21,500 2,340,382 1.70AOL Inc 54,300 1,843,214 1.34Celgene Corp 6,200 883,965 0.64Cisco Systems Inc 89,100 2,089,840 1.52ConocoPhillips 38,100 2,520,505 1.83Convergys Corp 16,400 297,906 0.22Edison International 47,000 2,158,005 1.56Eli Lilly & Co 46,300 2,382,366 1.73Entergy Corp 31,000 1,953,465 1.42Gap Inc 53,500 2,178,252 1.58Kroger Co 17,200 632,530 0.46Marathon Petroleum Corp 33,500 2,467,108 1.79Northrop Grumman Corp 27,000 2,513,160 1.82Pfizer Inc 79,200 2,225,916 1.61ResMed Inc 524,297 2,542,674 1.84Symantec Corp 86,300 2,248,547 1.63Tyson Foods Inc 52,100 1,506,993 1.09United Therapeutics Corp 13,100 957,806 0.69Universal Corp 16,500 823,433 0.60Yahoo! Inc 11,300 308,547 0.22

37,383,279 27.11

TOTAL EQUITIES 125,658,503 91.08

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGELISTING OR DEALT IN ON ANOTHER REGULATED MARKET 125,658,503 91.08

Total Investments 125,658,503 91.08

The accompanying notes form an integral part of these financial statements.

*Securities partially lent, see note 14 for further details.

Invesco Global Structured Equity Fund


06 Invesco Funds



EQUITIESBRAZILBanco do Brasil SA 144,200 1,380,386 1.73Bradespar SA (Preferred) 19,700 203,905 0.26Braskem SA (Preferred) 29,000 211,479 0.26Cia Brasileira de Distribuicao Grupo Pao de Acucar (Preferred) 5,100 207,108 0.26Cia de Bebidas das Americas ADR (Preferred) 4,500 157,433 0.20Cosan SA Industria e Comercio 70,000 1,194,206 1.50Cyrela Brazil Realty SA Empreendimentos e Participacoes 59,800 399,333 0.50Itausa - Investimentos Itau SA (Preferred) 310,310 1,076,539 1.35Klabin SA (Preferred) 40,000 205,653 0.26Lojas Renner SA 6,800 166,361 0.21Natura Cosmeticos SA 14,200 266,810 0.34Petroleo Brasileiro SA ADR 10,400 142,220 0.18Petroleo Brasileiro SA (Preferred) 21,000 150,470 0.19Porto Seguro SA 16,400 180,349 0.23Souza Cruz SA 112,600 1,213,907 1.53Sul America SA 35,242 205,763 0.26Ultrapar Participacoes SA 59,100 1,314,108 1.65Vale SA (Preferred) 20,300 265,268 0.33

8,941,298 11.24

CAYMAN ISLANDSCountry Garden Holdings Co Ltd 588,000 369,611 0.46Geely Automobile Holdings Ltd 310,000 162,885 0.21Shimao Property Holdings Ltd 135,000 343,790 0.43Want Want China Holdings Ltd 192,000 283,960 0.36

1,160,246 1.46

CHILEAES Gener SA 316,605 199,524 0.25Aguas Andinas SA 378,180 251,833 0.32Banco de Credito e Inversiones 4,137 194,361 0.24CAP SA 11,702 249,499 0.31Cia Cervecerias Unidas SA ADR 13,600 361,080 0.45Enersis SA 2,430,362 747,992 0.94

2,004,289 2.51

CHINAAgricultural Bank of China Ltd 378,000 162,060 0.20Bank of China Ltd 2,027,000 852,048 1.07China Construction Bank Corp 1,705,000 1,248,722 1.57China Merchants Bank Co Ltd 173,000 298,689 0.38China Oilfield Services Ltd 332,000 853,175 1.07China Petroleum & Chemical Corp 2,416,000 1,739,855 2.19Chongqing Rural Commercial Bank 325,000 146,042 0.18Great Wall Motor Co Ltd 288,000 1,464,054 1.84Guangzhou R&F Properties Co Ltd 398,000 647,643 0.81Industrial & Commercial Bank of China Ltd 1,867,000 1,222,928 1.54Yantai Changyu Pioneer Wine Co Ltd 42,100 136,037 0.17

8,771,253 11.02

COLOMBIACementos Argos SA 53,589 246,053 0.31

HONG KONGChina Mobile Ltd 223,000 2,398,081 3.01CNOOC Ltd 81,000 160,633 0.20Lenovo Group Ltd 1,506,000 1,455,424 1.83

4,014,138 5.04

INDONESIABank Mandiri Persero Tbk PT 238,000 154,199 0.19Bank Negara Indonesia Persero Tbk PT 507,000 177,009 0.22Bank Rakyat Indonesia Persero Tbk PT 2,104,500 1,276,768 1.60Indo Tambangraya Megah Tbk PT 76,500 219,447 0.28Indofood Sukses Makmur Tbk PT 959,500 564,541 0.71

2,391,964 3.00

Invesco Emerging Market Quantitative Equity Fund


07 Invesco Funds


MALAYSIAAirAsia BHD 731,100 575,350 0.72Alliance Financial Group Bhd 144,800 221,954 0.28British American Tobacco Malaysia Bhd 16,300 306,769 0.39DiGi.Com Bhd 160,300 228,633 0.29IOI Corp Bhd 132,700 217,950 0.27Kuala Lumpur Kepong Bhd 28,300 185,492 0.23Malayan Banking Bhd 69,500 211,371 0.27Petronas Chemicals Group Bhd 101,800 204,544 0.26Public Bank Bhd 136,700 712,055 0.90UMW Holdings Bhd 68,800 262,862 0.33

3,126,980 3.94

MEXICOAlfa SAB de CV 159,300 401,545 0.50America Movil SAB de CV ADR 71,200 1,372,380 1.72Grupo Financiero Banorte SAB de CV 24,400 149,783 0.19Grupo Mexico SAB de CV 303,000 885,092 1.11Industrias Penoles SAB de CV 6,925 221,153 0.28Kimberly-Clark de Mexico SAB de CV 242,800 653,115 0.82

3,683,068 4.62

PHILIPPINESMetropolitan Bank & Trust 342,810 625,283 0.79

POLANDPowszechna Kasa Oszczednosci Bank Polski SA 136,053 1,593,066 2.00Powszechny Zaklad Ubezpieczen SA 2,197 299,698 0.38

1,892,764 2.38

RUSSIALukoil OAO ADR 15,693 912,156 1.15MegaFon OAO GDR 23,777 798,075 1.00Rosneft OAO GDR 145,241 1,073,694 1.35Sberbank of Russia (Preferred) 160,949 337,172 0.43Severstal OAO GDR 15,718 129,713 0.16Uralkali OJSC GDR 24,629 576,565 0.72

3,827,375 4.81

SOUTH AFRICAExxaro Resources Ltd 27,805 437,062 0.55FirstRand Ltd 441,014 1,281,713 1.61Imperial Holdings Ltd 44,353 892,175 1.12Kumba Iron Ore Ltd 25,861 1,122,005 1.41Liberty Holdings Ltd 29,377 323,651 0.41Woolworths Holdings Ltd 211,103 1,373,197 1.73

5,429,803 6.83

SOUTH KOREADongbu Insurance Co Ltd 4,820 203,864 0.26Hana Financial Group Inc 8,110 255,892 0.32Hyundai Motor Co 3,918 879,745 1.11Kia Motors Corp 30,056 1,818,171 2.28Kumho Petro chemical Co Ltd 14,307 1,187,685 1.49LG Corp 3,491 210,237 0.26LG Display Co Ltd 15,290 403,238 0.51Samsung Electronics Co Ltd (Preferred) 202 166,142 0.21Samsung Electronics Co Ltd 3,304 4,067,309 5.11Samsung Heavy Industries Co Ltd 43,300 1,539,811 1.93SK Holdings Co Ltd 9,488 1,594,083 2.00

12,326,177 15.48

TAIWANAsustek Computer Inc 152,000 1,210,178 1.52E.Sun Financial Holding Co Ltd 398,915 251,617 0.32Farglory Land Development Co Ltd 187,000 336,824 0.42Mega Financial Holding Co Ltd 338,680 258,329 0.32Merida Industry Co Ltd 27,000 175,943 0.22



08 Invesco Funds


TAIWAN (continued)Powertech Technology Inc 215,000 392,287 0.49Taishin Financial Holding Co Ltd 1,611,000 693,131 0.87Taiwan Semiconductor Manufacturing Co Ltd ADR 171,100 2,851,381 3.58Teco Electric and Machinery Co Ltd 773,000 807,885 1.02TSRC Corp 100,990 171,104 0.22United Microelectronics Corp 738,000 302,727 0.38Vanguard International Semiconductor Corp 584,000 630,847 0.79

8,082,253 10.15

THAILANDPTT Global Chemical PCL 455,200 973,964 1.22PTT PCL 156,400 1,591,208 2.00

2,565,172 3.22

TURKEYTurk Hava Yollari 194,294 604,595 0.76Turk Telekomunikasyon AS 50,382 154,300 0.19Turkiye Halk Bankasi AS 61,504 393,806 0.50Turkiye Is Bankasi 85,086 200,144 0.25

1,352,845 1.70



OTHER TRANSFERABLE SECURITIESRIGHTSHONG KONGChina Merchants Bank Rights 03/10/2013 30,102 6,637 0.01

TOTAL RIGHTS 6,637 0.01

TOTAL OTHER TRANSFERABLE SECURITIES 6,637 0.01

OPEN-ENDED FUNDSFRANCELyxor ETF MSCI India 418,000 4,602,958 5.78

TOTAL OPEN-ENDED FUNDS 4,602,958 5.78


The accompanying notes form an integral part of these financial statements



09 Invesco Funds



EQUITIESAUSTRALIABT Investment Management Ltd 250,000 821,317 0.83DuluxGroup Ltd 2,088 8,418 0.01iiNET Ltd 136,315 718,358 0.73Navitas Ltd 200,000 1,112,075 1.13REA Group Ltd 13,003 420,907 0.43Seek Ltd 75,000 716,725 0.73

3,797,800 3.86

AUSTRIAWienerberger AG 45,000 652,818 0.66

BELGIUMTessenderlo Chemie NV 5,642 137,853 0.14

CANADAAimia Inc 75,000 1,140,125 1.16Air Canada 250,000 664,093 0.68CAE Inc 65,000 693,437 0.71Dorel Industries Inc 25,000 857,143 0.87Entertainment One Ltd 15,817 52,717 0.05MacDonald Dettwiler & Associates Ltd 7,500 573,520 0.58Tricon Capital Group Inc 100,000 563,113 0.57Ultra Petroleum Corp 20,527 431,170 0.44

4,975,318 5.06

DENMARKVestas Wind Systems A/S 55,000 1,040,631 1.06

FRANCEAlten SA 10,000 403,801 0.41Eiffage SA 10,000 539,240 0.55Euro Disney SCA 71,423 437,339 0.45Havas SA 85,000 619,335 0.63LISI 4,821 632,463 0.64Orpea 11,476 532,039 0.54Paris Orleans SA 45,000 1,037,836 1.05Terreis 17,490 402,446 0.41Total Gabon 1,100 693,906 0.71Virbac SA 1,738 319,955 0.33

5,618,360 5.72

GERMANYHanseYachts AG 24,558 86,876 0.09MTU Aero Engines AG 5,000 452,257 0.46Takkt AG 40,000 736,904 0.75

1,276,037 1.30

HONG KONGYGM Trading Ltd 10,000 22,539 0.02

IRELANDC&C Group Plc 157,500 891,112 0.91Origin Enterprises Plc 100,000 847,321 0.86

1,738,433 1.77

ITALYBrembo SpA 2,810 64,305 0.07Cairo Communication SpA 155,000 791,087 0.81Elica SpA 363,526 667,785 0.68Maire Tecnimont SpA 700,000 1,043,992 1.06Moleskine SpA 376,671 969,950 0.98RCS MediaGroup SpA 392,770 609,704 0.62Recordati SpA 74,687 849,635 0.86

4,996,458 5.08

Invesco Global Smaller Companies Equity Fund


10 Invesco Funds


JAPANAccordia Golf Co Ltd 770 836,172 0.85Aica Kogyo Co Ltd 30,000 545,260 0.55Asics Corp 70,000 1,230,934 1.25Digital Garage Inc 100 511,150 0.52Fujitsu General Ltd 75,000 809,489 0.82GMO internet Inc 50,000 554,170 0.56Makita Corp 12,500 664,393 0.68Mori Hills REIT Investment Corp 150 836,218 0.85Mori Trust Sogo REIT Inc 65 540,398 0.55Nissan Chemical Industries Ltd 60,000 824,763 0.84NTT Urban Development Corp 650 771,052 0.78Sanwa Holdings Corp 95,000 531,056 0.54Shiseido Co Ltd 35,000 556,130 0.57Start Today Co Ltd 30,000 671,723 0.69Suruga Bank Ltd 25,000 394,308 0.40Takara Leben Co Ltd 150,000 517,004 0.53Tokyu REIT Inc 175 891,394 0.92

11,685,614 11.90

LUXEMBOURGGAGFAH SA 70,000 868,603 0.89Samsonite International SA 247,100 642,805 0.65

1,511,408 1.54

NETHERLANDSArcadis NV 30,000 745,808 0.75Heijmans NV 41,627 419,041 0.43Koninklijke BAM Groep NV 125,000 525,273 0.53Koninklijke Boskalis Westminster NV 12,500 495,195 0.50Koninklijke Wessanen NV 200,000 745,378 0.76Nutreco NV 17,667 831,924 0.85SBM Offshore NV 26,783 529,758 0.54TKH Group NV 17,500 496,394 0.51

4,788,771 4.87

NEW ZEALANDAir New Zealand Ltd 400,000 440,561 0.45Trade Me Ltd Npv 200,000 674,933 0.69

1,115,494 1.14

PORTUGALBanco Espirito Santo SA 466,952 511,265 0.52REN - Redes Energeticas Nacionais SGPS SA 215,000 629,354 0.64

1,140,619 1.16

SINGAPORESIA Engineering Co Ltd 13,000 46,974 0.05

SPAINAbengoa SA 301,617 818,411 0.83Baron de Ley 2,725 196,621 0.20Bolsas y Mercados Espanoles SA 30,000 881,644 0.89Indra Sistemas SA 56,545 853,990 0.87Laboratorios Farmaceuticos Rovi SA 34,700 349,609 0.36Miquel y Costas & Miquel SA 15,000 518,223 0.53

3,618,498 3.68

SWEDENLindab International AB 56,454 510,441 0.52Nobia AB 90,000 713,015 0.73

1,223,456 1.25

SWITZERLANDFoster Wheeler AG 14,465 337,035 0.34



11 Invesco Funds


UNITED KINGDOMBalfour Beatty Plc 250,000 964,224 0.98Diploma Plc 46,469 429,156 0.44Henderson Group Plc 400,000 1,026,852 1.04Inchcape Plc 80,000 724,874 0.74Premier Farnell Plc 150,000 521,681 0.53Rentokil Initial Plc 350,000 544,198 0.55Stagecoach Group Plc 200,000 990,268 1.01Thomas Cook Group Plc 125,000 274,967 0.28Topps Tiles Plc 800,000 1,033,983 1.05UTi Worldwide Inc 16,750 283,410 0.29

6,793,613 6.91

UNITED STATESActuate Corp 23,203 162,769 0.17Affiliated Managers Group Inc 2,711 473,502 0.49American Financial Group Inc 8,739 454,559 0.46Amsurg Corp 12,422 473,217 0.48Arris Group Inc 25,776 409,194 0.42Arthur J Gallagher & Co 9,417 396,503 0.40Artisan Partners Asset Management Inc 2,088 97,551 0.10Auxilium Pharmaceuticals Inc 12,033 214,849 0.22Bally Technologies Inc 8,751 635,891 0.65Beacon Roofing Supply Inc 9,432 347,899 0.35Bebe Stores Inc 37,439 224,447 0.23Belden Inc 7,216 413,369 0.42Bio-Rad Laboratories Inc 3,052 351,316 0.36Boston Private Financial Holdings Inc 39,280 408,316 0.42Cadence Design Systems Inc 29,717 406,083 0.41Celadon Group Inc 21,777 398,301 0.41Charles River Laboratories International Inc 8,633 403,895 0.41Cracker Barrel Old Country Store Inc 4,264 425,291 0.43Cray Inc 23,223 581,157 0.59Cubist Pharmaceuticals Inc 7,286 466,486 0.47CVB Financial Corp 32,731 422,394 0.43Dana Holding Corp 21,177 451,811 0.46DCT Industrial Trust Inc 48,300 325,784 0.33DineEquity Inc 4,788 321,083 0.33Douglas Emmett Inc 14,900 346,947 0.35Dresser-Rand Group Inc 6,149 378,256 0.38E*TRADE Financial Corp 37,219 533,533 0.55Eagle Materials Inc 6,121 392,509 0.40East West Bancorp Inc 14,856 442,337 0.45Electro Scientific Industries Inc 128 1,419 –Endo Health Solutions Inc 9,617 397,711 0.40Energen Corp 6,528 438,192 0.45EnerSys Inc 9,391 491,337 0.50Evercore Partners Inc 9,955 453,998 0.46Fairchild Semiconductor International Inc 25,365 314,653 0.32FEI Co 3,435 273,718 0.28FMC Corp 6,594 440,117 0.45FNB Corp 28,296 345,353 0.35Glacier Bancorp Inc 18,783 450,698 0.46GNC Holdings Inc 8,881 457,505 0.47Graphic Packaging Holding Co 66,924 566,511 0.57Haemonetics Corp 8,938 359,039 0.37Haynes International Inc 5,216 236,780 0.24Helix Energy Solutions Group Inc 18,342 472,030 0.49Hittite Microwave Corp 5,962 368,332 0.37Informatica Corp 10,835 392,064 0.40Interface Inc 27,024 490,350 0.50Interpublic Group of Cos Inc 28,844 458,475 0.47IPC The Hospitalist Co Inc 7,674 399,048 0.41Jack Henry & Associates Inc 9,378 470,822 0.48JDS Uniphase Corp 25,671 336,162 0.34Jones Lang LaSalle Inc 4,711 395,182 0.40Landstar System Inc 5,400 301,860 0.31LaSalle Hotel Properties 13,992 373,656 0.38Lattice Semiconductor Corp 53,509 261,391 0.27



12 Invesco Funds


UNITED STATES (continued)La-Z-Boy Inc 21,474 470,603 0.48Lexington Realty Trust 34,000 403,410 0.41LifePoint Hospitals Inc 8,560 395,001 0.40MAXIMUS Inc 10,748 409,445 0.42Medicines Co 12,206 392,362 0.40MicroStrategy Inc 2,650 244,396 0.25Mid-America Apartment Communities Inc 2,800 172,942 0.18MRC Global Inc 13,194 348,520 0.35Nexstar Broadcasting Group Inc 12,849 432,690 0.44Oceaneering International Inc 5,795 457,139 0.47Oil States International Inc 4,443 401,892 0.41Old Dominion Freight Line Inc 11,724 514,625 0.51Papa John's International Inc 6,500 452,400 0.46Penske Automotive Group Inc 11,763 466,109 0.47Pier 1 Imports Inc 17,238 386,390 0.39PolyOne Corp 24,249 662,846 0.67Power Integrations Inc 3,904 207,927 0.21PVH Corp 2,949 380,185 0.39Red Robin Gourmet Burgers Inc 7,377 489,907 0.50Rosetta Resources Inc 7,444 347,970 0.35Sanmina Corp 28,709 478,435 0.49Schweitzer-Mauduit International Inc 10,667 614,259 0.63Semtech Corp 13,183 395,951 0.40SS&C Technologies Holdings Inc 15,122 545,830 0.56Susquehanna Bancshares Inc 36,612 469,183 0.48Targa Resources Corp 6,264 435,442 0.44Team Inc 12,312 488,787 0.49Teleflex Inc 4,663 364,064 0.37Texas Capital Bancshares Inc 7,461 338,021 0.34Thor Industries Inc 10,118 525,225 0.53Titan International Inc 16,324 266,979 0.27TreeHouse Foods Inc 5,114 338,342 0.34Trex Co Inc 8,544 385,121 0.39Trimas Corp 12,105 438,262 0.45Triumph Group Inc 4,945 361,109 0.37TRW Automotive Holdings Corp 6,929 482,917 0.49UGI Corp 10,697 425,473 0.43United Natural Foods Inc 5,936 362,571 0.37Universal Health Services Inc 6,192 428,672 0.44Valmont Industries Inc 2,696 370,754 0.38ValueClick Inc 22,317 478,142 0.48Veeco Instruments Inc 9,838 346,740 0.35Waste Connections Inc 11,551 496,520 0.51Watts Water Technologies Inc 8,093 428,727 0.44Webster Financial Corp 14,818 395,715 0.40West Pharmaceutical Services Inc 5,171 392,039 0.40Wintrust Financial Corp 10,463 413,812 0.42Wright Medical Group Inc 16,958 409,281 0.42Zions Bancorporation 10,665 302,299 0.31

41,521,083 42.26



OTHER TRANSFERABLE SECURITIESEQUITIESAUSTRALIAGunns Ltd** 939,388 – –Gunns Ltd PFD** 727 – –

– –



13 Invesco Funds


GERMANYSCS Standard Computersysteme Npv** 1,795 – –

TOTAL EQUITIES – –

TOTAL OTHER TRANSFERABLE SECURITIES - -

OPTIONSDAX Index / Eur Put Option 20/12/2013 500 434,583 0.44

TOTAL OPTIONS 434,583 0.44



**Securities valued at fair market value as determined in good faith pursuant to procedures established by the Directors.



14 Invesco Funds

Invesco Global Equity Income Fund




EQUITIESAUSTRALIAAmcor Ltd 749,514 6,981,698 2.44

BERMUDACatlin Group Ltd 341,970 2,510,922 0.88Hiscox Ltd 237,987 2,406,329 0.84Yue Yuen Industrial Holdings Ltd 1,091,500 3,353,124 1.17

8,270,375 2.89

FRANCEBNP Paribas SA 65,890 4,187,030 1.47Safran SA 34,120 1,906,744 0.67

6,093,774 2.14

GERMANYDeutsche Boerse AG 70,972 4,977,198 1.74RTL Group Npv 79,363 7,635,565 2.67

12,612,763 4.41

HONG KONGHutchison Whampoa Ltd 428,000 4,954,412 1.73

IRELANDCovidien Plc 65,898 3,965,412 1.39

JAPANCanon Inc 221,000 6,637,201 2.32Honda Motor Co Ltd 83,600 3,017,636 1.06Hoya Corp 150,200 3,201,748 1.12

12,856,585 4.50

NETHERLANDSKoninklijke Ahold NV 346,373 5,559,096 1.95Reed Elsevier NV 538,974 9,931,091 3.48

15,490,187 5.43

NORWAYOrkla ASA 480,958 3,473,886 1.22

SINGAPOREComfortDelGro Corp Ltd 2,310,000 3,335,174 1.17

SPAINIndra Sistemas SA 357,297 5,396,197 1.89

SWEDENNordea Bank AB 528,379 6,244,063 2.18

SWITZERLANDAdecco SA 92,396 5,886,904 2.06Novartis AG 193,823 14,140,910 4.94Roche Holding AG 45,962 11,548,160 4.03UBS AG 309,569 6,011,151 2.10

37,587,125 13.13

15 Invesco Funds

Invesco Global Equity Income Fund



UNITED KINGDOMAon Plc 61,048 4,085,637 1.43British American Tobacco Plc 154,798 7,879,945 2.76BT Group Plc 1,994,649 10,231,775 3.58GlaxoSmithKline Plc 135,690 3,489,651 1.22HSBC Holdings Plc 853,190 9,038,092 3.17Ladbrokes Plc 885,813 2,555,502 0.89Legal & General Group Plc 2,025,645 5,864,239 2.05Pearson Plc 402,392 8,012,558 2.80

51,157,399 17.90

UNITED STATESAmgen Inc 57,218 6,228,465 2.18Automatic Data Processing Inc 66,494 4,741,355 1.66Baxter International Inc 48,750 3,420,544 1.20Chevron Corp 49,256 5,927,713 2.08Exxon Mobil Corp 59,654 5,205,110 1.82Johnson & Johnson 32,875 2,845,824 1.00Kellogg Co 69,053 4,184,267 1.46Kraft Foods Group Inc 52,011 2,700,671 0.94Macy's Inc 142,495 6,357,413 2.23Microsoft Corp 301,790 10,129,581 3.55Pfizer Inc 311,104 8,743,578 3.06Philip Morris International Inc 87,566 7,342,847 2.57PNC Financial Services Group Inc 84,007 6,098,488 2.13Robert Half International Inc 162,260 5,801,606 2.03Target Corp 50,289 3,174,996 1.11Time Warner Cable Inc 26,487 2,850,928 1.00United Parcel Service Inc 52,745 4,521,038 1.58United Technologies Corp 83,084 8,345,372 2.92Viacom Inc 'B' 50,809 4,034,997 1.41

102,654,793 35.93





16 Invesco Funds

Invesco Latin American Equity Fund




EQUITIESBERMUDACredicorp Ltd 1,540 187,557 2.80

BRAZILAliansce Shopping Centers SA 11,500 90,735 1.36Alpargatas SA (Preferred) 16,006 81,783 1.22Banco do Estado do Rio Grande do Sul SA (Preferred) 14,600 87,285 1.30Banco Santander Brasil SA 16,000 90,399 1.35Bematech SA 12,000 35,477 0.53BM&FBovespa SA 34,900 171,519 2.56BR Properties SA 9,600 72,855 1.09Cia de Bebidas das Americas (Preferred) 10,900 383,206 5.73Cia de Locacao das Americas 19,500 68,146 1.02Cia Energetica de Minas Gerais (Preferred) 16,138 127,569 1.91EcoRodovias Infraestrutura e Logistica SA 14,600 94,433 1.41EDP - Energias do Brasil SA 23,800 107,988 1.62Estacio Participacoes SA 19,300 141,970 2.12Even Construtora e Incorporadora SA 34,900 117,749 1.76Gerdau SA (Preferred) 4,700 34,404 0.51Itau Unibanco Holding SA ADR 33,155 400,016 5.97JSL SA 10,500 62,351 0.93Mahle-Metal Leve SA Industria e Comercio 5,300 60,844 0.91Odontoprev SA 23,700 88,549 1.32Paranapanema SA 31,500 56,410 0.84Petroleo Brasileiro SA ADR 8,300 113,503 1.70Petroleo Brasileiro SA SPON ADR 14,278 205,745 3.07Smiles SA 5,000 57,633 0.86Souza Cruz SA 10,600 114,275 1.71Telefonica Brasil SA ADR 9,625 191,489 2.86TPI - Triunfo Participacoes e Investimentos SA 26,269 115,016 1.72Tractebel Energia SA 6,600 95,127 1.42Ultrapar Participacoes SA 8,000 177,883 2.66Vale SA ADR 19,958 288,592 4.31

3,732,951 55.77

CANADAMethanex Corp 1,800 84,920 1.27Pacific Rubiales Energy Corp 5,050 94,095 1.41

179,015 2.68

CHILECia Cervecerias Unidas SA 7,400 96,767 1.45Coca-Cola Embonor SA (Preferred) 30,300 75,609 1.13Masisa SA 686,000 49,656 0.74SACI Falabella 14,200 136,594 2.04

358,626 5.36

MEXICOArca Continental SAB de CV 27,600 172,068 2.57Banregio Grupo Financiero SAB de CV 15,500 93,009 1.39Bolsa Mexicana de Valores SAB de CV 57,900 131,542 1.97Cemex SAB de CV ADR 20,300 227,056 3.39Corp Inmobiliaria Vesta SAB de CV 12,000 22,124 0.33El Puerto de Liverpool SAB de CV 13,500 135,944 2.04Fibra Uno Administracion SA de CV 63,200 171,616 2.56Grupo Televisa SAB ADR 5,650 145,572 2.18Hoteles City Express SAB de CV 17,400 28,398 0.42Kimberly-Clark de Mexico SAB de CV 58,600 157,630 2.36TF Administradora Industrial S de RL de CV 12,400 20,866 0.31

1,305,825 19.52

PANAMACopa Holdings SA 2,000 256,720 3.84

17 Invesco Funds

Invesco Latin American Equity Fund



SPAINCemex Latam Holdings SA 17,100 129,287 1.93



OTHER TRANSFERABLE SECURITIES

CERTIFICATESBRAZILMerrill Lynch Certificates Share Linked 10/06/14 USD (FIBRIA CEL) 13,500 155,400 2.32Merrill Lynch Certificates Share Linked 26/06/14 USD (JSL SA) 13,125 78,020 1.17

233,420 3.49

UNITED STATESMerrill Lynch Certificates Share Linked 29/05/14 USD (IGUATEMI E) 10,108 94,139 1.41

TOTAL CERTIFICATES 327,559 4.90


OPEN-ENDED FUNDSUNITED KINGDOMInvesco Perpetual American Investment Series - Latin American Fund 21,400 49,911 0.75

TOTAL OPEN-ENDED FUNDS 49,911 0.75



18 Invesco Funds

Invesco US Structured Equity Fund




EQUITIESBASIC MATERIALSCF Industries Holdings Inc 5,500 1,040,958 1.04Westlake Chemical Corp 900 91,881 0.09

1,132,839 1.13

COMMUNICATIONSAOL Inc 18,800 638,166 0.64AT&T Inc 13,400 450,977 0.45Cisco Systems Inc 102,900 2,413,519 2.40Expedia Inc 2,400 113,028 0.11Google Inc 95 81,253 0.08News Corp 12,200 192,455 0.19Starz 7,000 173,635 0.17Symantec Corp 52,100 1,357,466 1.35Twenty-First Century Fox Inc 9,900 311,108 0.31VeriSign Inc 4,700 227,362 0.23Verizon Communications Inc 15,600 746,070 0.74Yahoo! Inc 67,100 1,832,166 1.82

8,537,205 8.49

CONSUMER, CYCLICALAbercrombie & Fitch Co 5,500 197,697 0.20American Eagle Outfitters Inc 19,500 284,212 0.28Best Buy Co Inc 35,000 1,272,075 1.27CST Brands Inc 4,500 133,943 0.13CVS Caremark Corp 22,600 1,306,845 1.30Delta Air Lines Inc 19,800 388,773 0.39Fossil Group Inc 1,200 139,182 0.14GameStop Corp 40,000 2,027,000 2.02Gap Inc 41,500 1,689,672 1.68General Motors Co 49,300 1,698,632 1.69Hasbro Inc 4,900 223,636 0.22International Game Technology 27,900 530,518 0.53Lear Corp 10,700 738,247 0.73Macy's Inc 8,500 379,227 0.38MGM Resorts International 15,400 273,889 0.27Southwest Airlines Co 64,900 830,396 0.83Staples Inc 14,900 209,271 0.21Wyndham Worldwide Corp 2,800 166,726 0.17Wynn Resorts Ltd 11,800 1,674,184 1.67

14,164,125 14.11

CONSUMER, NON-CYCLICALAmerisourceBergen Corp 22,900 1,308,621 1.30Amgen Inc 20,500 2,231,527 2.22Archer-Daniels-Midland Co 21,200 738,078 0.73Avery Dennison Corp 12,400 540,950 0.54Biogen Idec Inc 3,850 824,439 0.82Boston Scientific Corp 29,800 317,817 0.32Celgene Corp 15,600 2,224,170 2.21Eli Lilly & Co 36,600 1,883,253 1.87General Mills Inc 3,400 167,331 0.17Green Mountain Coffee Roasters Inc 19,500 1,731,112 1.72H&R Block Inc 15,800 445,007 0.44Johnson & Johnson 24,800 2,146,812 2.14Kroger Co 45,900 1,687,972 1.68Lorillard Inc 6,900 292,871 0.29Manpowergroup Inc 7,700 508,008 0.51McGraw Hill Financial Inc 1,600 93,824 0.09McKesson Corp 2,000 243,130 0.24Moody's Corp 1,200 76,872 0.08Omnicare Inc 1,700 93,577 0.09Pfizer Inc 102,900 2,892,005 2.88ResMed Inc 2,200 106,084 0.11Tyson Foods Inc 45,600 1,318,980 1.31Vertex Pharmaceuticals Inc 700 54,068 0.05Zimmer Holdings Inc 700 55,213 0.05

21,981,721 21.86

19 Invesco Funds

Invesco US Structured Equity Fund



ENERGYChevron Corp 26,000 3,128,970 3.11ConocoPhillips 32,200 2,130,191 2.12EOG Resources Inc 400 62,834 0.06Exxon Mobil Corp 43,500 3,795,592 3.78Marathon Petroleum Corp 23,800 1,752,751 1.74Phillips 66 17,700 1,021,821 1.02Suncor Energy Inc 14,900 510,996 0.51Valero Energy Corp 31,900 1,142,179 1.14

13,545,334 13.48

FINANCIALAllstate Corp 6,100 293,257 0.29Berkshire Hathaway Inc 12,300 1,376,862 1.37CIT Group Inc 1,900 90,583 0.09Citigroup Inc 56,900 2,757,658 2.75Discover Financial Services 34,800 1,656,306 1.65Franklin Resources Inc 7,600 351,158 0.35Goldman Sachs Group Inc 7,500 1,152,337 1.15JPMorgan Chase & Co 56,800 2,880,044 2.87Lincoln National Corp 37,600 1,597,436 1.59MetLife Inc 6,200 287,959 0.29Morgan Stanley 44,500 1,153,885 1.15NASDAQ OMX Group Inc 15,900 477,875 0.48Regions Financial Corp 165,000 1,565,025 1.56SLM Corp 3,200 77,072 0.08State Street Corp 18,200 1,223,313 1.22Weyerhaeuser Co 11,000 304,865 0.30

17,245,635 17.19

INDUSTRIALAGCO Corp 2,300 131,364 0.13Boeing Co 9,400 986,201 0.98Energizer Holdings Inc 1,200 119,418 0.12Expeditors International of Washington Inc 4,600 186,047 0.19Flextronics International Ltd 9,300 84,025 0.08General Electric Co 60,800 1,405,392 1.40ITT Corp 1,700 57,001 0.06Northrop Grumman Corp 19,300 1,796,444 1.79Raytheon Co 10,700 809,830 0.81Tyco International Ltd 6,000 199,590 0.20

5,775,312 5.76

TECHNOLOGYApple Inc 3,400 1,671,763 1.66Computer Sciences Corp 20,700 1,042,348 1.04Cree Inc 10,500 596,032 0.59First Solar Inc 24,300 911,493 0.91Hewlett-Packard Co 72,300 1,627,834 1.62Lexmark International Inc 8,100 281,921 0.28Microsoft Corp 93,800 3,148,397 3.13NVIDIA Corp 25,500 376,762 0.37Oracle Corp 73,400 2,326,046 2.32Seagate Technology Plc 42,300 1,611,419 1.60Western Digital Corp 24,600 1,493,589 1.49

15,087,604 15.01

UTILITIESAES Corp/VA 5,100 65,203 0.06Edison International 13,500 619,853 0.62Entergy Corp 10,200 642,753 0.64Public Service Enterprise Group Inc 1,600 51,784 0.05

1,379,593 1.37





20 Invesco Funds

Invesco US Value Equity Fund




EQUITIESCANADASuncor Energy Inc 60,266 2,066,822 1.15

FRANCESanofi ADR 47,587 2,340,091 1.30

IRELANDIngersoll-Rand Plc 47,853 2,851,800 1.59

NETHERLANDSUnilever NV 39,938 1,513,850 0.84

PANAMACarnival Corp 53,488 1,929,580 1.07

SWITZERLANDNoble Corp 22,842 859,430 0.48Novartis AG 35,035 2,556,078 1.42Roche Holding AG ADR 26,728 1,683,597 0.94Weatherford International Ltd 300,456 4,493,320 2.50

9,592,425 5.34

UNITED KINGDOMBP Plc ADR 81,222 3,382,490 1.89GlaxoSmithKline Plc ADR 35,397 1,827,016 1.02Royal Dutch Shell Plc ADR 38,064 2,486,531 1.38Vodafone Group Plc ADR 49,117 1,561,675 0.87

9,257,712 5.16

UNITED STATESAflac Inc 19,041 1,102,950 0.61Alcoa Inc 189,814 1,483,396 0.83Allstate Corp 68,734 3,304,387 1.84Archer-Daniels-Midland Co 37,079 1,290,905 0.72AT&T Inc 22,679 763,262 0.43Autodesk Inc 26,212 970,237 0.54Bank of America Corp 206,344 2,922,863 1.63Bank of New York Mellon Corp 129,106 3,851,878 2.14Bristol-Myers Squibb Co 65,600 2,741,752 1.53Cardinal Health Inc 29,661 1,490,910 0.83Chevron Corp 18,787 2,260,922 1.26Cisco Systems Inc 84,424 1,980,165 1.10Citigroup Inc 168,248 8,154,140 4.55Comcast Corp 66,862 2,836,955 1.58Corning Inc 149,312 2,117,991 1.18CVS Caremark Corp 47,198 2,729,224 1.52eBay Inc 53,208 2,713,076 1.51Emerson Electric Co 34,772 2,107,705 1.17Express Scripts Holding Co 9,892 631,654 0.35Fifth Third Bancorp 102,692 1,890,046 1.05FirstEnergy Corp 29,202 1,090,841 0.61General Electric Co 150,041 3,468,197 1.94General Motors Co 111,047 3,826,124 2.14Goldman Sachs Group Inc 11,891 1,826,993 1.02Halliburton Co 84,834 4,116,569 2.29Hewlett-Packard Co 165,831 3,733,685 2.08Honeywell International Inc 17,334 1,387,847 0.77Intel Corp 45,066 994,381 0.55International Paper Co 43,557 2,077,887 1.15Johnson Controls Inc 44,579 1,821,275 1.01JPMorgan Chase & Co 110,790 5,617,608 3.13Kohl's Corp 23,451 1,193,070 0.66Lowe's Cos Inc 16,905 784,984 0.44Merck & Co Inc 82,983 3,910,574 2.17MetLife Inc 52,340 2,430,931 1.35Microsoft Corp 123,034 4,129,637 2.30

21 Invesco Funds

Invesco US Value Equity Fund



UNITED STATES (continued)Mondelez International Inc 53,038 1,628,532 0.91Morgan Stanley 125,365 3,250,714 1.81Murphy Oil Corp 42,375 2,788,911 1.55Newell Rubbermaid Inc 40,442 1,027,429 0.57Occidental Petroleum Corp 24,543 2,165,797 1.21Pfizer Inc 120,699 3,392,245 1.89PNC Financial Services Group Inc 39,530 2,869,680 1.60PPL Corp 73,050 2,250,305 1.25Procter & Gamble Co 6,035 466,596 0.26QEP Resources Inc 68,221 1,881,876 1.05Staples Inc 76,828 1,079,049 0.60State Street Corp 22,853 1,536,064 0.86Target Corp 20,799 1,313,145 0.73Time Warner Cable Inc 34,794 3,745,052 2.09Time Warner Inc 20,884 1,274,028 0.71Travelers Cos Inc 9,106 730,711 0.41Twenty-First Century Fox Inc 83,368 2,627,343 1.46Tyson Foods Inc 45,467 1,315,133 0.73UnitedHealth Group Inc 50,979 3,693,174 2.06US Bancorp 28,318 1,022,421 0.57Verizon Communications Inc 24,604 1,176,686 0.66Viacom Inc 'B' 61,006 4,844,791 2.69Wal-Mart Stores Inc 5,568 403,318 0.22WellPoint Inc 24,922 2,130,083 1.19Wells Fargo & Co 95,353 3,933,788 2.19Yahoo! Inc 51,738 1,412,706 0.79

143,714,598 80.04





22 Invesco Funds

Invesco US Equity Fund




EQUITIESAUSTRALIATreasury Wine Estates Ltd 4,575 19,447 0.32

BERMUDANabors Industries Ltd 3,671 56,901 0.95

FRANCEAccor SA 1,385 52,112 0.87L'Oreal SA 300 50,889 0.85Total SA 1,582 87,958 1.47

190,959 3.19

GERMANYDeutsche Telekom AG 3,731 47,912 0.80

NETHERLANDSHeineken NV 2,274 156,824 2.62

SWITZERLANDABB Ltd 2,374 51,023 0.85Novartis AG 476 34,728 0.58Pentair Ltd 1,486 90,623 1.51

176,374 2.94

UNITED STATESAGL Resources Inc 1,806 79,654 1.33Altria Group Inc 1,820 61,780 1.03American Electric Power Co Inc 1,734 74,042 1.24AT&T Inc 3,121 105,037 1.75Automatic Data Processing Inc 1,230 87,705 1.46Avery Dennison Corp 1,021 44,541 0.74Baker Hughes Inc 1,565 73,015 1.22Brinker International Inc 773 31,504 0.53Bristol-Myers Squibb Co 735 30,719 0.51Campbell Soup Co 3,029 131,231 2.20Capital One Financial Corp 237 15,259 0.25Charles Schwab Corp 4,880 103,920 1.73Coach Inc 1,195 62,839 1.05Coca-Cola Co 1,593 60,701 1.01Columbia Sportswear Co 572 32,195 0.54Consolidated Edison Inc 1,839 103,333 1.72Cullen/Frost Bankers Inc 726 52,149 0.87Dominion Resources Inc 600 35,121 0.59Duke Energy Corp 1,448 95,068 1.59Eli Lilly & Co 1,636 84,180 1.40Entergy Corp 678 42,724 0.71Exelon Corp 3,494 106,341 1.77Federated Investors Inc 'B' Shares 4,385 121,048 2.02Fifth Third Bancorp 3,596 66,184 1.10General Mills Inc 3,854 189,676 3.17Guess? Inc 921 28,390 0.47Harley-Davidson Inc 634 38,050 0.63Hudson City Bancorp Inc 5,941 54,628 0.91International Paper Co 938 44,747 0.75Johnson & Johnson 1,176 101,800 1.70Johnson Controls Inc 1,848 75,500 1.26KeyCorp 5,823 68,682 1.15Kimberly-Clark Corp 964 89,599 1.49Kraft Foods Group Inc 2,218 115,170 1.92Legg Mason Inc 2,760 91,177 1.52Lincoln National Corp 1,843 78,300 1.31Linear Technology Corp 1,914 73,660 1.23M&T Bank Corp 572 65,068 1.09Marriott International Inc 1,156 46,535 0.78Masco Corp 3,901 74,295 1.24Mead Johnson Nutrition Co 534 39,756 0.66Medtronic Inc 893 46,289 0.77

23 Invesco Funds

Invesco US Equity Fund



UNITED STATES (continued)Microsoft Corp 1,037 34,807 0.58Mondelez International Inc 2,514 77,192 1.29Newell Rubbermaid Inc 3,034 77,079 1.29Pepco Holdings Inc 3,902 73,923 1.23Philip Morris International Inc 344 28,846 0.48PPL Corp 2,055 63,304 1.06Procter & Gamble Co 1,389 107,391 1.79Prudential Financial Inc 506 38,165 0.64Raytheon Co 1,532 115,949 1.93Sempra Energy 786 65,989 1.10Sonoco Products Co 1,037 39,162 0.65StanCorp Financial Group Inc 1,544 82,643 1.38Stryker Corp 1,334 89,251 1.49SunTrust Banks Inc 4,121 133,623 2.23Sysco Corp 3,988 127,437 2.13Target Corp 1,490 94,071 1.57Texas Instruments Inc 1,965 75,879 1.26Time Warner Inc 1,001 61,066 1.02TJX Cos Inc 670 35,513 0.59Travelers Cos Inc 671 53,844 0.90United Parcel Service Inc 831 71,229 1.19Walgreen Co 2,608 124,101 2.06Weyerhaeuser Co 1,000 27,715 0.46Zions Bancorporation 5,810 164,684 2.74

4,884,475 81.47





24 Invesco Funds

Investment Nominal/Shares Market Value Net AssetsEUR %


EQUITIESAUSTRIAOMV AG 74,496 2,633,806 0.16

BELGIUMAnheuser-Busch InBev NV 354,905 25,019,028 1.55Colruyt SA 142,103 5,904,024 0.37Delhaize Group SA* 478,795 23,421,454 1.46

54,344,506 3.38

BERMUDACatlin Group Ltd 592,540 3,286,208 0.20

DENMARKColoplast A/S 308,605 12,597,935 0.78GN Store Nord A/S 590,462 9,154,754 0.57Novo Nordisk A/S 205,607 26,206,760 1.63TDC A/S 1,404,104 8,685,323 0.54

56,644,772 3.52

FINLANDOrion OYJ* 351,619 6,165,639 0.38

FRANCESafran SA 736,037 31,068,122 1.93Teleperformance 174,838 6,052,892 0.38Vivendi SA* 187,265 2,927,888 0.18

40,048,902 2.49

GERMANYAurubis AG 87,077 3,793,074 0.24Bayer AG 351,458 29,801,881 1.85Deutsche Lufthansa AG 1,783,367 24,244,874 1.51Deutsche Telekom AG 3,527,762 34,217,528 2.13Duerr AG 88,986 4,502,692 0.28Freenet AG 421,675 7,550,091 0.47Fresenius SE & Co KGaA 264,391 24,141,542 1.50Hannover Rueck SE 35,251 1,873,062 0.12Merck KGaA 168,527 19,418,524 1.21ProSiebenSat.1 Media AG 497,546 15,841,865 0.98Suedzucker AG 169,171 4,112,970 0.26United Internet AG 182,351 4,728,361 0.29

174,226,464 10.84

IRELANDPaddy Power Plc 59,601 3,622,251 0.23Ryanair Holdings Plc 2,694,906 17,634,117 1.10

21,256,368 1.33

ITALYGtech Spa 247,105 5,283,105 0.33

NETHERLANDSEuropean Aeronautic Defence and Space Co NV 684,860 29,988,307 1.86Heineken Holding NV 68,070 3,113,862 0.19Koninklijke Ahold NV 2,475,445 30,008,582 1.86Ziggo NV 188,723 5,589,975 0.35

68,700,726 4.26

NORWAYDNB ASA 2,496,751 29,891,374 1.86Gjensidige Forsikring ASA 239,040 2,594,464 0.16Marine Harvest ASA 16,991,554 12,058,493 0.75Orkla ASA 1,958,826 10,686,520 0.66Statoil ASA 302,583 5,008,944 0.31Telenor ASA 1,917,366 30,424,887 1.89TGS Nopec Geophysical Co ASA 484,018 10,844,717 0.67

101,509,399 6.30

Invesco Pan European Structured Equity Fund


25 Invesco Funds


SPAINAmadeus IT Holding SA 1,228,601 30,202,084 1.88Distribuidora Internacional de Alimentacion SA 2,719,261 16,406,661 1.02Ebro Foods SA 234,071 3,865,097 0.24Ferrovial SA 1,476,304 18,664,173 1.16Inditex SA 255,766 25,953,855 1.61Obrascon Huarte Lain SA 314,397 8,259,209 0.51Viscofan SA 83,320 3,297,597 0.21

106,648,676 6.63

SWEDENSkandinaviska Enskilda Banken AB 3,905,980 30,535,748 1.90Svenska Handelsbanken AB 924,826 30,092,880 1.87Swedbank AB 1,672,495 28,748,869 1.79

89,377,497 5.56

SWITZERLANDActelion Ltd 431,130 22,200,514 1.38Galenica AG* 7,036 4,074,384 0.25Geberit AG 33,331 6,140,124 0.38Givaudan SA 19,062 19,267,800 1.20Nestle SA 494,401 24,495,226 1.52Novartis AG 61,001 3,361,562 0.21PSP Swiss Property AG 52,629 3,411,885 0.21Roche Holding AG 169,172 32,105,129 1.99Swisscom AG 94,926 32,357,403 2.01

147,414,027 9.15

UNITED KINGDOMAssociated British Foods Plc 1,208,563 26,264,375 1.63AstraZeneca Plc 457,903 17,117,902 1.06BP Plc 5,246,516 27,418,395 1.70British American Tobacco Plc 684,598 26,322,402 1.64British Sky Broadcasting Group Plc 528,714 5,255,915 0.33BT Group Plc 7,875,049 30,511,941 1.90Bunzl Plc 252,391 4,060,508 0.25Centrica Plc 7,039,597 31,664,194 1.97Cobham Plc 2,187,700 7,258,231 0.45Diageo Plc 137,194 3,191,123 0.20Essentra Plc 327,868 2,971,391 0.18GlaxoSmithKline Plc 1,566,701 30,433,529 1.89Halma Plc 490,579 3,132,019 0.19ITV Plc 16,483,268 31,748,925 1.97J Sainsbury Plc 6,050,160 27,511,228 1.71Ladbrokes Plc 2,677,416 5,834,210 0.36Mondi Plc 1,253,231 14,578,700 0.91National Grid Plc 3,408,503 29,782,958 1.85Next Plc 537,468 31,050,712 1.93Persimmon Plc 780,063 10,175,006 0.63Reckitt Benckiser Group Plc 519,156 26,752,788 1.66Reed Elsevier Plc 3,324,209 31,323,416 1.95Rightmove Plc 164,019 4,471,881 0.28Royal Dutch Shell Plc 1,314,573 32,204,613 2.00Sage Group Plc 2,727,506 11,091,501 0.69Shire Plc 1,198,483 33,475,811 2.08SSE Plc 1,747,623 32,239,327 2.00Tate & Lyle Plc 1,885,195 17,934,920 1.11TUI Travel Plc 3,088,785 12,526,296 0.78Unilever Plc 887,543 25,705,208 1.60Vodafone Group Plc 9,522,875 23,240,084 1.44WH Smith Plc 455,663 4,508,378 0.28Whitbread Plc 817,548 29,727,925 1.85William Hill Plc 4,204,978 20,558,528 1.28

672,044,340 41.75

TOTAL EQUITIES 1,549,584,435 96.28

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGELISTING OR DEALT IN ON ANOTHER REGULATED MARKET 1,549,584,435 96.28

Total Investments 1,549,584,435 96.28



Invesco Pan European Structured Equity Fund


26 Invesco Funds



EQUITIESBELGIUMSolvay SA 100,671 10,706,361 0.93

FINLANDStora Enso OYJ 1,136,118 6,669,013 0.58UPM-Kymmene OYJ 2,613,909 24,159,054 2.11

30,828,067 2.69

FRANCEAXA SA 805,428 13,394,268 1.17BNP Paribas SA 504,795 24,228,898 2.11Cap Gemini SA 559,695 23,578,551 2.05Cie Generale des Etablissements Michelin 334,528 24,579,445 2.14Safran SA 313,266 13,222,958 1.15Societe Generale SA 527,820 17,668,774 1.54

116,672,894 10.16

GERMANYDaimler AG 240,060 12,586,346 1.10Deutsche Boerse AG 298,054 15,787,920 1.38Deutsche Post AG 1,062,055 23,205,902 2.02RTL Group Npv 105,702 7,681,364 0.67ThyssenKrupp AG 778,898 12,388,373 1.08

71,649,905 6.25

IRELANDC&C Group Plc 4,430,301 18,932,891 1.65Kingspan Group Plc 1,355,428 16,095,707 1.40

35,028,598 3.05

ITALYAutogrill SpA 1,185,844 14,194,553 1.24Enel Green Power SpA 7,477,053 11,996,932 1.05Fondiaria-Sai SpA 6,403,892 9,327,269 0.81

35,518,754 3.10

NETHERLANDSASM International NV 499,511 11,842,157 1.03European Aeronautic Defence and Space Co NV 536,435 23,489,148 2.05ING Groep NV 2,953,604 24,652,256 2.15Koninklijke Ahold NV 1,692,765 20,520,544 1.79Reed Elsevier NV 1,444,779 20,107,712 1.75SBM Offshore NV 1,560,158 23,308,760 2.03

123,920,577 10.80

PORTUGALGalp Energia SGPS SA 1,188,635 15,366,079 1.34

SPAINBanco Bilbao Vizcaya Argentaria SA 3,093,599 22,601,834 1.97Bankinter SA 4,163,480 14,530,545 1.27Bolsas y Mercados Espanoles SA 185,000 4,106,537 0.36International Consolidated Airlines Group SA 6,850,660 23,110,701 2.01Mediaset Espana Comunicacion SA 1,210,902 9,044,227 0.79Obrascon Huarte Lain SA 851,568 22,370,691 1.95Red Electrica Corp SA 504,318 19,996,209 1.74Repsol SA 877,031 15,530,026 1.35

131,290,770 11.44

SWEDENIntrum Justitia AB 459,703 8,600,474 0.75Nordea Bank AB 1,477,853 13,191,221 1.15SSAB AB 2,294,815 12,124,845 1.06Telefonaktiebolaget LM Ericsson 1,982,397 17,774,021 1.55

51,690,561 4.51

Invesco Pan European Equity Fund


27 Invesco Funds


SWITZERLANDAdecco SA 397,985 19,152,814 1.67Credit Suisse Group AG 865,418 18,946,137 1.65Novartis AG 805,921 44,411,621 3.87Roche Holding AG 167,132 31,717,982 2.76UBS AG 1,689,190 24,774,836 2.16

139,003,390 12.11

UNITED KINGDOMAstraZeneca Plc 243,068 9,084,698 0.79BAE Systems Plc 5,425,005 27,777,901 2.42Balfour Beatty Plc 4,069,503 11,855,273 1.03BG Group Plc 1,684,131 24,269,762 2.11BP Plc 4,720,326 24,668,515 2.15BT Group Plc 6,827,342 26,452,592 2.31Carphone Warehouse Group Plc 2,698,334 7,491,915 0.65Dixons Retail Plc 16,671,678 8,195,836 0.71G4S Plc 3,785,481 11,459,195 1.00G4S Plc GBP 500,000 1,514,852 0.13GKN Plc 5,017,172 19,450,823 1.70GlaxoSmithKline Plc 798,392 15,508,949 1.35HSBC Holdings Plc 3,094,704 24,761,795 2.16Imperial Tobacco Group Plc 374,426 9,395,242 0.82Legal & General Group Plc 8,912,214 19,487,944 1.70N Brown Group Plc 1,781,516 11,347,715 0.99Rentokil Initial Plc 16,340,385 19,190,356 1.67Resolution Ltd 7,072,231 26,411,852 2.30Rio Tinto Plc 523,729 17,935,570 1.56RSA Insurance Group Plc 6,280,115 8,827,741 0.77Schroders Plc 1,180,971 25,678,576 2.24TalkTalk Telecom Group Plc 3,295,886 9,298,629 0.81WPP Plc 1,181,619 16,734,130 1.46

376,799,861 32.83

TOTAL EQUITIES 1,138,475,817 99.21


OTHER TRANSFERABLE SECURITIESCERTIFICATESUNITED KINGDOMBarclays Bank Plc NTS 28/02/2019 (LAKE ACQ-CVR) 1,102,320 258,141 0.02

TOTAL CERTIFICATES 258,141 0.02




Invesco Pan European Equity Fund


28 Invesco Funds



EQUITIESAUSTRIAPalfinger AG 59,890 1,476,289 1.09

BELGIUMKBC Ancora 61,439 1,071,803 0.79

BERMUDACatlin Group Ltd 66,045 366,283 0.27Hiscox Ltd 210,999 1,611,440 1.19Hoegh LNG Holdings Ltd 106,000 626,171 0.46North Atlantic Drilling Ltd 97,477 686,651 0.51

3,290,545 2.43

CANADAAfrica Oil Corp 297,429 1,490,104 1.11Entertainment One Ltd 244,468 615,432 0.45Wentworth Resources Ltd 1,542,863 831,329 0.61

2,936,865 2.17

CAYMAN ISLANDSPolarcus Ltd 901,217 478,245 0.35

DENMARKD/S Norden A/S 44,770 1,195,299 0.88Trigon Agri A/S 204,312 71,897 0.05Vestas Wind Systems A/S 109,776 1,568,822 1.17

2,836,018 2.10

FRANCEAB Science SA 38,342 669,068 0.49AtoS 13,408 759,161 0.56Cap Gemini SA 33,144 1,396,274 1.04Faurecia 106,053 2,037,278 1.51Inside Secure SA 319,923 763,016 0.56Rallye SA 39,726 1,064,657 0.79Rexel SA 121,389 2,126,735 1.57

8,816,189 6.52

GERMANYAareal Bank AG 112,623 2,332,422 1.72Axel Springer AG 77,076 2,911,739 2.15Brenntag AG 11,569 1,334,773 0.98GEA Group AG 29,385 908,511 0.67Kinghero AG 3,542 7,332 0.01MTU Aero Engines AG 21,126 1,443,328 1.07Nabaltec AG 107,501 755,141 0.56Nexus AG 67,778 664,597 0.49Norma Group SE 70,465 2,232,683 1.65Osram Licht AG 68,729 2,070,118 1.53Sartorius AG (Preferred) 9,167 747,936 0.55SNP Schneider-Neureither & Partner AG 69,774 750,245 0.56Takkt AG 113,412 1,578,128 1.17Tom Tailor Holding AG 29,195 457,997 0.34

18,194,950 13.45

IRELANDC&C Group Plc 460,737 1,968,960 1.45Kenmare Resources Plc 2,030,019 633,457 0.47

2,602,417 1.92

Invesco Pan European Small Cap Equity Fund


29 Invesco Funds


ITALYBanca Generali SpA 136,823 2,367,723 1.76Fondiaria-Sai SpA 828,875 1,207,256 0.89Indesit Co SpA 154,040 925,395 0.68RCS MediaGroup SpA 839,157 983,912 0.73Societa Iniziative Autostradali e Servizi SpA 138,340 960,425 0.71Unipol Gruppo Finanziario SpA 845,769 2,357,158 1.74

8,801,869 6.51

LUXEMBOURGProspector Offshore Drilling SA 495,710 1,154,777 0.85SAF-Holland SA 159,004 1,309,000 0.97

2,463,777 1.82

MARSHALL ISLANDSNavios Maritime Acq Corp 1,830,292 5,274,083 3.90

NETHERLANDSGemalto NV 18,869 1,623,394 1.20Heijmans NV 66,603 506,416 0.37Koninklijke BAM Groep NV 587,155 1,863,631 1.38Koninklijke Philips NV 52,484 1,234,030 0.91Nutreco NV 53,925 1,917,977 1.42Ziggo NV 54,250 1,606,885 1.19

8,752,333 6.47

NORWAYAGR Group ASA 1,238,409 520,358 0.38Agrinos AS 270,907 721,484 0.53Algeta ASA 65,017 2,096,331 1.55Badger Explorer ASA 358,787 287,323 0.21MagSeis AS 8,500 525,228 0.39Marine Harvest ASA 1,334,102 946,780 0.70Norwegian Air Shuttle AS 54,830 1,520,548 1.12Odfjell SE 321,151 1,299,809 0.96Schibsted ASA 25,786 958,244 0.71Spectrum ASA 207,636 1,018,713 0.76

9,894,818 7.31

PORTUGALBanco Comercial Portugues SA 14,951,979 1,442,866 1.07

SPAINAbengoa SA 833,295 1,707,838 1.26

SWITZERLANDEFG International AG 128,357 1,323,481 0.98Evolva Holding SA 1,112,478 690,951 0.51Feintool International Holding AG 21,413 1,217,811 0.90GAM Holding AG 199,785 2,672,284 1.98Julius Baer Group Ltd 28,918 973,284 0.72Leonteq AG 55,670 3,520,894 2.60

10,398,705 7.69

UNITED KINGDOMAbcam Plc 125,199 663,711 0.49Accsys Technologies Plc 4,920,360 645,797 0.48Advanced Medical Solutions Group Plc 582,259 602,512 0.45Amerisur Resources Plc 1,132,120 593,206 0.44Babcock International Group Plc 102,080 1,360,200 1.01Bovis Homes Group Plc 56,659 502,541 0.37Brammer Plc 10,392 55,334 0.04Brewin Dolphin Holdings Plc 208,405 649,707 0.48Brooks Macdonald Group Plc 27,966 435,514 0.32Cape Plc 93,993 285,734 0.21Carclo Plc 41,081 177,315 0.13Chemring Group Plc 66,452 240,273 0.18



30 Invesco Funds


UNITED KINGDOM (continued)Consort Medical Plc 77,758 750,909 0.56Crest Nicholson Holdings Plc 79,168 295,335 0.22CVS Group Plc 322,384 877,640 0.65Dechra Pharmaceuticals Plc 169,118 1,380,201 1.02Dialog Semiconductor Plc 160,321 2,199,604 1.62Dignity Plc 22,302 382,170 0.28Diploma Plc 191,984 1,339,211 0.99Dunelm Group Plc 47,177 522,842 0.39Elementis Plc 275,453 800,514 0.59EMIS Group Plc 26,771 225,614 0.17EnQuest Plc 345,952 506,547 0.37Essentra Plc 88,814 804,901 0.59Euromoney Institutional Investor Plc 86,520 1,207,064 0.89Fenner Plc 63,688 259,176 0.19FLEX LNG Ltd 2,233,766 869,575 0.64Go-Ahead Group Plc 23,054 402,479 0.30Hargreaves Services Plc 36,065 343,529 0.25Howden Joinery Group Plc 518,823 1,720,715 1.27Hunting Plc 76,997 735,671 0.55IG Group Holdings Plc 87,584 579,932 0.43Innovation Group Plc 1,661,802 569,148 0.42Jupiter Fund Management Plc 261,082 1,017,678 0.76Keywords Studios Plc 71,090 131,518 0.10Latchways Plc 27,495 427,374 0.32LSL Property Services Plc 134,601 731,284 0.54Marston's Plc 338,203 622,911 0.46Mears Group Plc 229,529 1,094,843 0.81Micro Focus International Plc 74,476 688,257 0.51Microgen Plc 209,552 320,201 0.24N Brown Group Plc 201,817 1,285,513 0.95NCC Group Plc 196,452 314,560 0.23Premier Oil Plc 154,073 651,800 0.48Rotork Plc 22,295 711,759 0.53RPS Group Plc 290,418 855,737 0.63RWS Holdings Plc 108,844 1,013,191 0.75Salamander Energy Plc 47,346 71,625 0.05Senior Plc 436,374 1,400,770 1.04Serco Group Plc 84,197 541,485 0.40Spectris Plc 19,002 493,048 0.36Stanley Gibbons Group Plc 144,072 512,829 0.38Synergy Health Plc 136,192 1,760,518 1.30Topps Tiles Plc 470,762 459,576 0.34Ultra Electronics Holdings Plc 39,407 858,004 0.63Victrex Plc 42,559 780,125 0.58Workspace Group Plc 95,396 492,705 0.36WS Atkins Plc 10,955 151,425 0.11Xaar Plc 41,513 403,078 0.30Xchanging Plc 154,942 231,539 0.17

41,007,974 30.32







31 Invesco Funds



EQUITIESBELGIUMAnheuser-Busch InBev NV 13,802 972,972 1.40D'ieteren S 15,535 543,414 0.78

1,516,386 2.18

BERMUDACatlin Group Ltd 130,041 721,203 1.03Lancashire Holdings Ltd 81,115 687,163 0.99

1,408,366 2.02

CYPRUSProsafe SE 189,030 1,255,065 1.80

DENMARKNovo Nordisk A/S 5,444 693,895 1.00

FRANCEMetropole Television SA 32,085 465,393 0.67Publicis Groupe SA 17,417 985,541 1.41Schneider Electric SA 11,502 670,337 0.96Total SA 17,456 733,065 1.05Vicate SA 14,110 693,612 1.00

3,547,948 5.09

GERMANYAllianz SE 7,209 787,403 1.13Brenntag AG 3,289 379,468 0.54Deutsche Boerse AG 20,161 1,067,928 1.53Deutsche Post AG 33,755 737,547 1.06Deutsche Telekom AG 71,847 696,880 1.00GEA Group AG 26,214 810,471 1.16Morphosys AG 24,670 1,356,233 1.95MTU Aero Engines AG 10,824 739,496 1.06SAP AG 23,931 1,350,187 1.94Volkswagen AG (Preferred) 4,012 694,778 1.00

8,620,391 12.37

IRELANDDCC Plc 39,776 1,195,780 1.72Dragon Oil Plc 151,627 1,048,818 1.50

2,244,598 3.22

ISRAELIsrael Chemicals Ltd 82,174 433,874 0.62

ITALYAnsaldo STS SpA 51,108 338,846 0.49Danieli & C Officine Meccaniche SpA 28,234 372,689 0.53Saipem SpA 43,060 716,949 1.03

1,428,484 2.05

NETHERLANDSAalberts Industries NV 16,781 321,901 0.46Unilever NV 23,285 665,311 0.95

987,212 1.41

NORWAYTGS Nopec Geophysical Co ASA 37,302 835,774 1.20

RUSSIAGazprom OAO ADR 47,891 283,507 0.41

SPAINConstrucciones y Auxiliar de Ferrocarriles SA 1,452 489,505 0.70

Invesco European Growth Equity Fund


32 Invesco Funds


SWEDENIntrum Justitia AB 65,172 1,219,287 1.75Investment AB Kinnevik 36,040 859,558 1.23Investor AB 30,997 679,962 0.98Swedbank AB 31,070 534,069 0.77Telefonaktiebolaget LM Ericsson 67,502 605,218 0.87

3,898,094 5.60

SWITZERLANDABB Ltd 49,779 808,094 1.16Aryzta AG 39,628 1,899,837 2.73Dufry AG 10,645 1,064,325 1.53Julius Baer Group Ltd 19,051 641,193 0.92Kuoni Reisen Holding AG 2,391 662,440 0.95Nestle SA 16,459 815,465 1.17Novartis AG 11,916 656,651 0.94Roche Holding AG 5,794 1,099,574 1.58Syngenta AG 3,092 911,633 1.31Tecan Group AG 8,274 641,189 0.92UBS AG 39,410 578,014 0.83

9,778,415 14.04

TURKEYHaci Omer Sabanci Holding AS 322,419 1,043,929 1.50Tupras Turkiye Petrol Rafinerileri AS 34,370 499,626 0.72

1,543,555 2.22

UNITED KINGDOMAberdeen Asset Management Plc 172,625 715,629 1.03Amlin Plc 195,243 901,981 1.29Balfour Beatty Plc 216,259 630,006 0.90BG Group Plc 57,132 823,321 1.18British American Tobacco Plc 33,250 1,278,443 1.83British Sky Broadcasting Group Plc 118,863 1,181,610 1.70Bunzl Plc 49,472 795,914 1.14Centrica Plc 130,972 589,114 0.85Chemring Group Plc 155,081 560,732 0.80Compass Group Plc 141,942 1,435,552 2.06Homeserve Plc 171,752 477,221 0.68IG Group Holdings Plc 171,055 1,132,630 1.63Imperial Tobacco Group Plc 33,196 832,967 1.20Informa Plc 208,495 1,234,061 1.77Kingfisher Plc 139,662 635,560 0.91Micro Focus International Plc 94,082 869,443 1.25Next Plc 10,090 582,922 0.84Reed Elsevier Plc 140,119 1,320,316 1.89Royal Dutch Shell Plc 41,175 1,050,415 1.51Shire Plc 22,088 616,958 0.89Smiths Group Plc 39,516 598,030 0.86UBM Plc 48,589 396,543 0.57Ultra Electronics Holdings Plc 40,574 883,413 1.27William Hill Plc 105,900 517,755 0.74WPP Plc 83,418 1,181,369 1.70

21,241,905 30.49





Invesco European Growth Equity Fund


33 Invesco Funds

34 Invesco Funds



EQUITIESBASIC MATERIALSUPM-Kymmene OYJ 33,882 313,154 1.92

COMMUNICATIONSBT Group Plc 100,657 389,996 2.40Deutsche Telekom AG 22,559 218,811 1.34Elisa OYJ 10,764 173,839 1.07Mediaset Espana Comunicacion SA 37,285 278,482 1.71Reed Elsevier NV 19,333 269,067 1.65RTL Group Npv 6,049 439,581 2.70

1,769,776 10.87

CONSUMER, CYCLICALBayerische Motoren Werke AG 2,267 162,351 1.00Compass Group Plc 10,274 103,908 0.64DCC Plc 5,701 171,388 1.05Diploma Plc 8,478 59,139 0.36Electrolux AB 7,867 157,833 0.97International Consolidated Airlines Group SA 17,011 57,394 0.35Ryanair Holdings Plc 19,934 130,438 0.80Thomas Cook Group Plc 19,692 32,718 0.20Whitbread Plc 1,761 64,034 0.39

939,203 5.76

CONSUMER, NON-CYCLICALAstraZeneca Plc 3,447 128,832 0.79Atlantia SpA 25,633 353,607 2.17Babcock International Group Plc 7,941 105,813 0.65British American Tobacco Plc 9,839 378,304 2.33Bunzl Plc 4,991 80,296 0.49C&C Group Plc 69,850 298,504 1.83Capita Plc 14,684 165,401 1.02Cranswick Plc 8,924 120,322 0.74G4S Plc 56,323 170,642 1.05GlaxoSmithKline Plc 14,616 283,919 1.75Homeserve Plc 23,638 65,679 0.40Imperial Tobacco Group Plc 10,706 268,639 1.65Interserve Plc 24,193 158,776 0.98Intrum Justitia AB 11,063 206,975 1.27Koninklijke Ahold NV 20,640 250,208 1.54Novartis AG 11,853 653,179 4.01Randstad Holding NV 9,517 339,257 2.09Reckitt Benckiser Group Plc 2,988 153,976 0.95Recordati SpA 26,401 226,851 1.39Roche Holding AG 3,116 591,348 3.63Serco Group Plc 20,469 131,640 0.81Tesco Plc 45,998 199,831 1.23

5,331,999 32.77

ENERGYBG Group Plc 8,429 121,469 0.75Galp Energia SGPS SA 14,157 183,015 1.12Repsol SA 13,091 231,809 1.42

536,293 3.29

FINANCIALAgeas 7,623 230,405 1.42Amlin Plc 21,009 97,057 0.60AXA SA 19,948 331,735 2.04Banco Bilbao Vizcaya Argentaria SA 47,430 346,524 2.13Bankinter SA 65,325 227,984 1.40Beazley Plc 42,260 100,845 0.62BNP Paribas SA 6,632 318,319 1.96CaixaBank 62,876 178,977 1.10Catlin Group Ltd 20,806 115,389 0.71Credit Suisse Group AG 9,820 214,984 1.32Deutsche Boerse AG 5,940 314,642 1.93

Invesco Pan European Equity Income Fund


35 Invesco Funds


FINANCIAL (continued)Fondiaria-Sai SpA 108,112 157,465 0.97ING Groep NV 47,776 398,762 2.45Nordea Bank AB 46,606 416,002 2.56Resolution Ltd 38,375 143,315 0.88Societe Generale SA 7,471 250,092 1.54UBS AG 25,941 380,469 2.34

4,222,966 25.97

INDUSTRIALAeroports de Paris 2,143 158,850 0.98BAE Systems Plc 47,590 243,677 1.50Cie de St-Gobain 5,292 188,845 1.16Obrascon Huarte Lain SA 9,292 244,101 1.50Orkla ASA 39,999 218,218 1.34Rolls-Royce Holdings Plc 23,172 303,201 1.86Safran SA 3,083 130,133 0.80Utilitywise Plc 27,967 45,190 0.28

1,532,215 9.42

TECHNOLOGYCap Gemini SA 5,284 222,602 1.37Domino Printing Sciences Plc 17,747 137,304 0.84Indra Sistemas SA 23,963 273,358 1.68WANdisco Plc 8,137 99,802 0.61

733,066 4.50

UTILITIESCentrica Plc 26,840 120,727 0.74Red Electrica Corp SA 8,004 317,359 1.95SSE Plc 7,180 132,453 0.81

570,539 3.50



OPEN-ENDED FUNDSInvesco Perpetual Fixed Interest Investment Series - European High Yield Fund 94,812 48,059 0.30




Invesco Pan European Equity Income Fund


36 Invesco Funds



EQUITIESAUSTRIADO & CO AG 6,900 295,949 1.15

CYPRUSGlobaltrans Investment Plc GDR 42,000 567,210 2.21MD Medical Group Investments Plc GDR 13,700 198,650 0.77

765,860 2.98

HUNGARYOTP Bank Plc 24,150 449,190 1.75

IRELANDDragon Oil Plc 41,600 380,965 1.48

KAZAKHSTANKCell JSC GDR 35,800 576,201 2.24

NETHERLANDSCinema City International NV 23,226 223,291 0.87Fortuna Entertainment Group NV 76,700 396,864 1.55

620,155 2.42

POLANDCCC SA 28,900 876,511 3.42Eurocash SA 48,150 773,432 3.01Integer.pl SA 5,000 436,393 1.70KRUK SA 17,810 363,346 1.42LPP SA 80 197,084 0.77Lubelski Wegiel Bogdanka SA 11,600 412,185 1.61Powszechny Zaklad Ubezpieczen SA 8,070 1,100,849 4.29Synthos SA 298,550 405,125 1.58

4,564,925 17.80

RUSSIAAK Transneft OAO (Preferred) 260 596,717 2.32Alrosa AO 500,750 498,197 1.94Gazprom OAO ADR 233,600 1,830,840 7.13Lukoil OAO ADR 39,650 2,304,656 8.98M Video OJSC 71,400 574,357 2.24MMC Norilsk Nickel OJSC ADR 44,800 592,704 2.31Mobile Telesystems OJSC ADR 70,300 1,457,670 5.68NovaTek OAO GDR 9,800 1,161,790 4.53Phosagro OAO GDR 55,400 508,434 1.98Rosneft OAO GDR 146,500 1,083,001 4.22Sberbank of Russia ADR 210,800 2,239,750 8.73Surgutnrftegaz OAO ADR (Preferred) 1,189,300 801,101 3.12Tatneft OAO ADR 27,900 1,048,482 4.09VTB Bank OJSC GDR 234,300 624,761 2.43

15,322,460 59.70

TURKEYBoyner Buyuk Magazacilik 117,000 384,781 1.50Teknosa Ic Ve Dis Ticaret AS 74,500 422,084 1.64Turkiye Sinai Kalkinma Bankasi AS 291,600 243,690 0.95

1,050,555 4.09

Invesco Emerging Europe Equity Fund



UNITED KINGDOMEtalon Group Ltd GDR 100,350 454,836 1.77Hikma Pharmaceuticals Plc 30,800 489,398 1.91ITE Group Plc 106,750 469,312 1.83

1,413,546 5.51





Invesco Emerging Europe Equity Fund


37 Invesco Funds

Invesco Pan European Focus Equity Fund




EQUITIESFINLANDUPM-Kymmene OYJ 16,971 156,854 2.32

FRANCEBNP Paribas SA 3,376 162,040 2.40Cap Gemini SA 4,668 196,651 2.90Cie Generale des Etablissements Michelin 2,615 192,137 2.84Paris Orleans SA 7,234 126,016 1.86Safran SA 2,958 124,857 1.84Terreis 4,774 82,972 1.23Total Gabon 277 131,984 1.95

1,016,657 15.02

GERMANYDeutsche Post AG 7,431 162,367 2.40

ITALYFondiaria-Sai SpA 73,089 106,454 1.57

NETHERLANDSING Groep NV 24,923 208,021 3.08Koninklijke BAM Groep NV 37,594 119,323 1.76Nutreco NV 5,155 183,350 2.71Reed Elsevier NV 14,326 199,382 2.94SBM Offshore NV 12,301 183,777 2.71

893,853 13.20

SPAINBanco Bilbao Vizcaya Argentaria SA 24,375 178,083 2.64Bankinter SA 34,949 121,972 1.80International Consolidated Airlines Group SA 54,824 184,949 2.73Obrascon Huarte Lain SA 6,215 163,268 2.41Red Electrica Corp SA 3,918 155,349 2.29

803,621 11.87

SWITZERLANDNovartis AG 6,640 365,909 5.40Roche Holding AG 1,363 258,667 3.82UBS AG 13,519 198,279 2.93

822,855 12.15

UNITED KINGDOMBAE Systems Plc 28,719 147,051 2.18Balfour Beatty Plc 44,737 130,328 1.92BG Group Plc 11,462 165,177 2.44BP Plc 36,091 188,612 2.79BT Group Plc 57,956 224,551 3.32CVS Group Plc 55,735 151,730 2.24GKN Plc 47,930 185,817 2.75Legal & General Group Plc 57,377 125,464 1.85Rentokil Initial Plc 135,328 158,932 2.34Resolution Ltd 48,127 179,734 2.65Rio Tinto Plc 5,197 177,976 2.63Schroders Plc 9,624 209,260 3.09Synergy Health Plc 11,876 153,518 2.27Topps Tiles Plc 171,596 167,519 2.47WPP Plc 14,501 205,364 3.03

2,571,033 37.97





38 Invesco Funds

39 Invesco Funds

Investment Nominal/Shares Market Value Net AssetsJPY %


EQUITIESBASIC MATERIALSFurukawa Co Ltd* 3,026,000 609,739,000 3.73Kumiai Chemical Industry Co Ltd 555,000 321,067,500 1.97MEC Co Ltd 159,700 70,826,950 0.43

1,001,633,450 6.13

COMMUNICATIONSAmuse Inc 153,200 322,332,800 1.97COLOPL Inc* 102,700 356,112,250 2.18CyberAgent Inc 1,191 300,429,750 1.84Hikari Tsushin Inc 69,100 405,617,000 2.48IREP Co Ltd 180,200 194,165,500 1.19Kakaku.com Inc 420,600 758,762,400 4.65Livesense Inc* 69,800 318,986,000 1.95MONEY SQUARE JAPAN Inc 767 225,881,500 1.38Nexon Co Ltd 258,000 277,221,000 1.70Start Today Co Ltd 238,800 525,121,200 3.22

3,684,629,400 22.56

CONSUMER, CYCLICALAi Holdings Corp 461,100 463,405,500 2.84Amiyaki Tei Co Ltd 314 90,008,100 0.55Avex Group Holdings Inc 142,700 394,494,150 2.42Tosho Co Ltd* 178,600 219,320,800 1.34VT Holdings Co Ltd* 181,600 232,084,800 1.42Yondoshi Holdings Inc 168,200 211,511,500 1.30

1,610,824,850 9.87

CONSUMER, NON-CYCLICALAsahi Intecc Co Ltd* 70,200 408,213,000 2.50Asante Inc 78,700 73,466,450 0.45JCR Pharmaceuticals Co Ltd 118,900 216,754,700 1.33Medrx Co Ltd 52,300 111,660,500 0.68Nippon Care Supply Co Ltd 517 35,181,850 0.22OncoTherapy Science Inc* 1,266 188,950,500 1.16PeptiDream Inc 18,900 117,936,000 0.72Srg Takamiya Co Ltd 298,200 215,747,700 1.32Topcon Corp* 370,000 484,885,000 2.97

1,852,795,700 11.35

FINANCIALeGuarantee Inc 71,800 133,224,900 0.82J Trust Co Ltd 196,600 287,429,200 1.76Jowa Holdings Co Ltd 185,500 455,217,000 2.79Shinoken Group Co Ltd 35,100 63,618,750 0.39Sun Frontier Fudousan Co Ltd 2,171 171,726,100 1.05Takara Leben Co Ltd 1,139,000 385,551,500 2.36Zenkoku Hosho Co Ltd 67,800 236,452,500 1.45

1,733,219,950 10.62

INDUSTRIALDaiseki Co Ltd* 338,500 576,804,000 3.53Enplas Corp 90,500 655,220,000 4.01Fujimori Kogyo Co Ltd 134,100 402,300,000 2.46Harmonic Drive Systems Inc 185,500 348,925,500 2.14Iriso Electronics Co Ltd 125,000 410,937,500 2.52Maeda Kosen Co Ltd* 190,800 197,668,800 1.21Micronics Japan Co Ltd 248,900 109,267,100 0.67Nihon Trim Co Ltd* 32,350 359,246,750 2.20Nippon Ceramic Co Ltd* 120,000 144,960,000 0.89SHO-BOND Holdings Co Ltd* 39,900 155,011,500 0.95Sinko Industries Ltd 253,200 198,382,200 1.22Tadano Ltd 432,000 595,080,000 3.65Tocalo Co Ltd 70,300 100,493,850 0.62Wacom Co Ltd 399,700 338,146,200 2.07

4,592,443,400 28.14

Invesco Nippon Small/Mid Cap Equity Fund


40 Invesco Funds

Invesco Nippon Small/Mid Cap Equity Fund



TECHNOLOGYBroadleaf Co Ltd 125,200 226,299,000 1.39Furuya Metal Co Ltd 52,200 151,327,800 0.93Mobile Create Co Ltd 77,100 215,417,400 1.32Sourcenext Corp* 468,600 339,969,300 2.08

933,013,500 5.72

TOTAL EQUITIES 15,408,560,250 94.39





41 Invesco Funds



EQUITIESBASIC MATERIALSAica Kogyo Co Ltd 38,500 68,722,500 0.08Nippon Steel & Sumitomo Metal Corp 9,550,000 2,683,550,000 3.16Shin-Etsu Chemical Co Ltd 615,000 3,646,950,000 4.29Taiyo Nippon Sanso Corp 2,507,000 1,613,254,500 1.90

8,012,477,000 9.43

COMMUNICATIONSDentsu Inc 490,800 1,612,278,000 1.90M3 Inc 3,530 908,092,500 1.07Rakuten Inc 2,640,800 3,191,406,800 3.75

5,711,777,300 6.72

CONSUMER, CYCLICALDescente Ltd 1,195,000 822,757,500 0.97Ichibanya Co Ltd 261,300 933,494,250 1.10Marubeni Corp 3,017,000 2,160,172,000 2.54Nifco Inc 485,500 1,136,070,000 1.34Oriental Land Co Ltd 132,200 2,093,387,000 2.46Sanrio Co Ltd 280,700 1,425,956,000 1.68Toyota Tsusho Corp 1,458,300 3,298,674,600 3.88

11,870,511,350 13.97

CONSUMER, NON-CYCLICALHisamitsu Pharmaceutical Co Inc 178,700 942,642,500 1.11Ito En Ltd 1,364,500 3,023,732,000 3.56Tsumura & Co 1,071,400 2,827,424,600 3.33

6,793,799,100 8.00

FINANCIALFukuoka Financial Group Inc 5,526,000 2,320,920,000 2.73Mizuho Financial Group Inc 14,008,800 2,808,764,400 3.31ORIX Corp 2,729,300 3,669,543,850 4.32Sumitomo Mitsui Financial Group Inc 827,600 3,597,991,000 4.23Tokyu Livable Inc 645,400 1,243,040,400 1.46

13,640,259,650 16.05

INDUSTRIALEast Japan Railway Co 389,100 2,937,705,000 3.47Fuji Kyuko Co Ltd 752,000 658,376,000 0.77Hamamatsu Photonics KK 519,600 1,652,328,000 1.94Hitachi Construction Machinery Co Ltd 418,400 808,976,400 0.95Hoya Corp 994,600 2,082,195,100 2.45Keyence Corp 112,300 3,652,557,500 4.31Kubota Corp 2,046,000 2,737,548,000 3.22Optex Co Ltd 370,700 480,241,850 0.57SMC Corp 131,600 2,712,934,000 3.19Taikisha Ltd 790,100 1,722,418,000 2.03Toshiba Plant Systems & Services Corp 955,000 1,513,675,000 1.78Wacom Co Ltd 2,212,800 1,872,028,800 2.20Yokogawa Electric Corp 1,510,800 1,871,881,200 2.20

24,702,864,850 29.08

TECHNOLOGYAxell Corp 261,100 493,740,100 0.58Canon Inc 825,300 2,434,222,350 2.87Ricoh Co Ltd 3,578,000 3,817,726,000 4.49Roland DG Corp 415,900 1,009,389,300 1.19Square Enix Holdings Co Ltd 1,224,400 1,758,850,600 2.07Tecmo Koei Holdings Co Ltd 1,679,500 1,622,397,000 1.91Zuken Inc 310,000 253,890,000 0.30

11,390,215,350 13.41

TOTAL EQUITIES 82,121,904,600 96.66




Invesco Japanese Equity Advantage Fund


42 Invesco Funds



EQUITIESBASIC MATERIALSDaicel Corp 371,000 316,277,500 2.14Denki Kagaku Kogyo KK 431,000 155,375,500 1.05Kaneka Corp 229,000 144,270,000 0.98Lintec Corp 85,400 157,990,000 1.07Mitsubishi Chemical Holdings Corp 303,000 140,743,500 0.95Mitsui Mining & Smelting Co Ltd 438,000 100,959,000 0.68Sumitomo Metal Mining Co Ltd 88,000 116,600,000 0.79Toyo Ink SC Holdings Co Ltd 266,000 121,163,000 0.82

1,253,378,500 8.48

COMMUNICATIONSNippon Telegraph & Telephone Corp 55,300 276,085,250 1.87Nisshinbo Holdings Inc 70,000 50,890,000 0.34

326,975,250 2.21

CONSUMER, CYCLICALFamilyMart Co Ltd 43,700 180,590,250 1.22Hitachi High-Technologies Corp 66,400 131,770,800 0.89Honda Motor Co Ltd 112,600 399,167,000 2.71Marubeni Corp 350,000 250,600,000 1.70Mitsubishi Corp 162,300 298,956,600 2.02Nagase & Co Ltd 107,600 126,483,800 0.86Nifco Inc 84,800 198,432,000 1.34Nissan Motor Co Ltd 363,200 355,028,000 2.40Resorttrust Inc 14,500 45,675,000 0.31Sekisui Chemical Co Ltd 316,000 285,348,000 1.93Shimamura Co Ltd 20,600 206,824,000 1.40Suzuki Motor Corp 62,900 132,781,900 0.90Teijin Ltd 298,000 64,219,000 0.43Toho Co Ltd 21,900 42,726,900 0.29Toyoda Gosei Co Ltd 62,000 147,684,000 1.00Toyota Motor Corp 122,700 730,065,000 4.95Yamaha Corp 66,800 82,965,600 0.56Yamaha Motor Co Ltd 93,200 118,923,200 0.81

3,798,241,050 25.72

CONSUMER, NON-CYCLICALAstellas Pharma Inc 88,300 444,590,500 3.01Daiichi Sankyo Co Ltd 52,700 89,115,700 0.60Nippon Meat Packers Inc 149,000 205,918,000 1.39Ono Pharmaceutical Co Ltd 43,300 256,985,500 1.74Pigeon Corp 16,200 73,426,500 0.50Seven & I Holdings Co Ltd 150,100 508,088,500 3.44

1,578,124,700 10.68

FINANCIALChiba Bank Ltd 230,000 154,905,000 1.05Daito Trust Construction Co Ltd 20,600 185,194,000 1.25Hitachi Capital Corp 145,900 293,623,750 1.99Mitsubishi Estate Co Ltd 219,000 561,078,000 3.80Mitsubishi UFJ Financial Group Inc 1,192,200 687,899,400 4.66ORIX Corp 353,100 474,742,950 3.21Sumitomo Mitsui Financial Group Inc 162,800 707,773,000 4.79Tokyu Land Corp 102,000 93,228,000 0.63

3,158,444,100 21.38

INDUSTRIALAmada Co Ltd 287,000 209,079,500 1.42Casio Computer Co Ltd 69,700 58,826,800 0.40Daifuku Co Ltd 168,500 155,694,000 1.05Daikin Industries Ltd 71,900 340,446,500 2.30East Japan Railway Co 52,100 393,355,000 2.67Fuji Machine Manufacturing Co Ltd 43,800 38,828,700 0.26Hitachi Ltd 707,000 419,251,000 2.85JGC Corp 29,000 97,585,000 0.66

Invesco Japanese Value Equity Fund


43 Invesco Funds


INDUSTRIAL (continued)Kyocera Corp 22,500 226,687,500 1.53Kyudenko Corp 86,000 38,700,000 0.26Maeda Road Construction Co Ltd 81,000 124,092,000 0.84Minebea Co Ltd 288,000 122,112,000 0.83Mitsubishi Heavy Industries Ltd 628,000 338,806,000 2.29Nidec Corp 32,900 241,815,000 1.64Obayashi Corp 537,000 300,988,500 2.04Sanwa Holdings Corp 373,000 204,777,000 1.39Toshiba Corp 670,000 261,970,000 1.77Tsubakimoto Chain Co 355,000 234,655,000 1.59Yaskawa Electric Corp 152,000 177,612,000 1.20

3,985,281,500 26.99

TECHNOLOGYCanon Inc 98,200 289,640,900 1.95Ricoh Co Ltd 109,000 116,303,000 0.79TDK Corp 57,900 206,124,000 1.40

612,067,900 4.14

TOTAL EQUITIES 14,712,513,000 99.60




Invesco Japanese Value Equity Fund


44 Invesco Funds



EQUITIESBERMUDANWS Holdings Ltd 730,000 1,087,171 0.83Texwinca Holdings Ltd 1,124,000 1,060,165 0.81

2,147,336 1.64

CAYMAN ISLANDSLifestyle International Holdings Ltd 833,000 1,795,867 1.37Minth Group Ltd 1,092,000 1,954,362 1.49Sunny Optical Technology Group Co Ltd 1,165,000 1,257,316 0.96Tencent Holdings Ltd 73,600 3,451,549 2.63

8,459,094 6.45

CHINABank of China Ltd 5,266,300 2,213,687 1.69China CITIC Bank Corp Ltd 1,985,000 945,732 0.72China Construction Bank Corp 3,118,890 2,284,238 1.74China Life Insurance Co Ltd-A 300,000 679,222 0.52China Merchants Property Development Co Ltd 221,722 1,021,744 0.78China State Construction Engineering Corp Ltd-A 2,426,000 1,270,582 0.97Datang International Power Generation Co Ltd 1,764,000 754,006 0.57Guangshen Railway Co Ltd 1,816,000 869,897 0.66Industrial & Commercial Bank of China Ltd 2,109,000 1,381,444 1.05Jiangsu Expressway Co Ltd 1,216,000 1,372,722 1.05Kweichow Moutai Co Ltd 35,000 965,381 0.74SDIC Power Holdings Co Ltd 1,599,906 984,336 0.75Travelsky Technology Ltd 2,069,000 1,666,042 1.27Tsingtao Brewery Co Ltd 110,000 814,137 0.62

17,223,170 13.13

HONG KONGAIA Group Ltd 574,000 2,512,723 1.91China Mobile Ltd 246,000 2,645,417 2.02CNOOC Ltd 1,009,000 2,000,969 1.52Galaxy Entertainment Group Ltd 339,000 2,064,261 1.57Henderson Land Development Co Ltd 538,200 3,164,474 2.41Hutchison Whampoa Ltd 301,000 3,484,294 2.66Lenovo Group Ltd 1,548,000 1,496,014 1.14Lifestyle Properties Development Ltd** 41,650 – –New World Development Co Ltd 1,201,000 1,686,413 1.28Techtronic Industries Co 991,500 2,430,344 1.85

21,484,909 16.36

INDIAHCL Technologies Ltd 149,248 2,358,275 1.80ICICI Bank Ltd 83,022 1,029,262 0.78Infosys Ltd 52,902 2,487,703 1.90Jammu & Kashmir Bank Ltd 88,286 1,484,607 1.13Sobha Developers Ltd 302,118 1,140,545 0.87

8,500,392 6.48

INDONESIATelekomunikasi Indonesia Persero Tbk PT 16,990,000 3,403,445 2.59

MALAYSIAPublic Bank Bhd 703,200 3,654,327 2.79

SINGAPOREDBS Group Holdings Ltd 200,000 2,480,351 1.89Oversea-Chinese Banking Corp Ltd 640,000 4,969,177 3.79United Overseas Bank Ltd 238,000 3,724,772 2.84

11,174,300 8.52

Invesco Asia Opportunities Equity Fund


45 Invesco Funds


SOUTH KOREAAmorepacific Corp 1,343 1,089,475 0.83Binggrae Co Ltd 9,241 751,318 0.57CJ CGV Co Ltd 25,068 1,096,393 0.84Coway Co Ltd 18,912 1,002,632 0.76Grand Korea Leisure Co Ltd 40,240 1,168,176 0.89Green Cross Corp 9,574 1,080,261 0.82Halla Visteon Climate Control Corp 43,420 1,491,273 1.14Hana Tour Service Inc 14,786 827,179 0.63Hyundai Mobis 4,153 1,044,750 0.80KEPCO Plant Service & Engineering Co Ltd 25,073 1,188,090 0.91NAVER Corp 2,630 1,057,283 0.81NHN Entertainment Corp 1,209 118,172 0.09Nong Woo Bio Co Ltd 10,349 204,873 0.16NongShim Co Ltd 8,627 1,853,556 1.41Orion Corp 1,125 998,773 0.76Ottogi Corp 2,783 816,686 0.62S-1 Corp 12,981 744,912 0.57Samsung Electronics Co Ltd 5,656 6,962,681 5.31Samsung Life Insurance Co Ltd 10,141 963,808 0.73SK Telecom Co Ltd 7,503 1,495,463 1.14

25,955,754 19.79

TAIWANCheng Shin Rubber Industry Co Ltd 427,800 1,098,645 0.84China Life Insurance Co Ltd 2,047,000 2,019,670 1.54Hiwin Technologies Corp 176,130 1,152,147 0.88Hon Hai Precision Industry Co Ltd 518,000 1,404,724 1.07ILI Technology Corp 181,000 421,281 0.32Largan Precision Co Ltd 42,000 1,463,181 1.11MediaTek Inc 121,000 1,481,945 1.13Ruentex Development Co Ltd 1,445,660 2,852,718 2.17San Shing Fastech Corp 477,900 1,137,077 0.87Synnex Technology International Corp 682,000 1,074,010 0.82Taiwan Semiconductor Manufacturing Co Ltd 1,483,000 4,968,191 3.79Teco Electric and Machinery Co Ltd 2,203,000 2,302,420 1.75Uni-President Enterprises Corp 25,020 45,442 0.03Yungtay Engineering Co Ltd 614,000 1,428,073 1.09

22,849,524 17.41

THAILANDKasikornbank PCL NVDR 333,200 1,648,403 1.26



OPEN-ENDED FUNDSLUXEMBOURGDB X-Trackers MSCI Asia Ex-Japan 63,000 1,950,795 1.49





Invesco Asia Opportunities Equity Fund


46 Invesco Funds



EQUITIESBERMUDAGiordano International Ltd 22,898,000 21,996,155 1.72Man Wah Holdings Ltd 3,872,800 4,704,017 0.37Nine Dragons Paper Holdings Ltd 6,237,000 4,206,011 0.33Pou Sheng International Holdings Ltd 78,315,000 3,761,527 0.29Yue Yuen Industrial Holdings Ltd 6,284,000 19,304,654 1.51

53,972,364 4.22

CAYMAN ISLANDSAAC Technologies Holdings Inc 4,405,500 19,924,427 1.56Ajisen China Holdings Ltd 22,597,000 24,343,902 1.90Asia Cement China Holdings Corp 44,185,000 20,937,516 1.64Baidu Inc ADR 148,555 20,759,818 1.62China Dongxiang Group Co 148,584,000 24,235,697 1.89Chow Tai Fook Jewellery Group Ltd 15,417,600 21,251,394 1.66Ctrip.com International Ltd ADR 532,695 24,975,405 1.95FIH Mobile Ltd 24,276,000 15,807,437 1.23Golden Eagle Retail Group Ltd 5,068,000 7,024,865 0.55Microport Scientific Corp 7,059,000 4,682,971 0.37Minth Group Ltd 28,146,000 50,373,148 3.93SINA Corp 196,139 15,608,742 1.22Stella International Holdings Ltd 2,740,000 6,716,231 0.52Tencent Holdings Ltd 373,900 17,534,432 1.37Towngas China Co Ltd 9,591,000 9,033,937 0.71Uni-President China Holdings Ltd 21,751,000 18,580,528 1.45Vinda International Holdings Ltd 31,991,000 32,711,010 2.55WuXi PharmaTech Cayman Inc ADR 1,022,078 24,892,710 1.94

359,394,170 28.06

CHINAAnhui Conch Cement Co Ltd 8,422,000 27,175,796 2.12Bank of China Ltd 58,552,000 24,612,305 1.92China Construction Bank Corp 53,655,000 39,296,284 3.07China Life Insurance Co Ltd-H Shares 11,947,000 29,284,238 2.29China Petroleum & Chemical Corp 44,440,000 32,002,962 2.50China Shenhua Energy Co Ltd 13,061,000 40,544,848 3.17Dalian Port PDA Co Ltd 6,910,000 1,599,320 0.12Huadian Energy Co Ltd 2 1 –Jiangling Motors Corp Ltd 4,519,730 11,990,721 0.94Shanghai Jinjiang International Hotels Development Co Ltd 15,151,564 21,060,674 1.64Weifu High-Technology Group Co Ltd 1 2 –

227,567,151 17.77

HONG KONGAIA Group Ltd 5,888,600 25,777,736 2.01China Mobile Ltd 5,391,500 57,978,718 4.53China Unicom Hong Kong Ltd 10,880,000 16,469,861 1.29CITIC Telecom International Holdings Ltd 38,622,125 10,233,895 0.80Hutchison Whampoa Ltd 4,075,000 47,171,097 3.68Lenovo Group Ltd 5,400,000 5,218,652 0.41MTR Corp Ltd 1,260,000 4,752,141 0.37Sun Art Retail Group Ltd 32,900,500 44,713,231 3.49

212,315,331 16.58

LUXEMBOURGL'Occitane International SA 10,702,000 25,956,533 2.03

Invesco Greater China Equity Fund


47 Invesco Funds


TAIWANAsustek Computer Inc 2,493,000 19,848,510 1.55China Steel Corp 22,885,000 19,386,598 1.51Compal Electronics Inc 3,348,000 2,251,615 0.18CTBC Financial Holding Co Ltd 54,749,735 34,350,629 2.68Far EasTone Telecommunications Co Ltd 2,008,000 5,059,502 0.40Formosa Plastics Corp 14,136,720 35,123,869 2.74Hon Hai Precision Industry Co Ltd 12,543,613 34,016,051 2.66HTC Corp 4,453,000 23,251,204 1.82Largan Precision Co Ltd 385,000 13,412,493 1.05MediaTek Inc 2,910,000 35,640,164 2.78President Chain Store Corp 6,136,264 42,805,861 3.34Taiwan Semiconductor Manufacturing Co Ltd 21,913,872 73,413,550 5.73Uni-President Enterprises Corp 11,708,760 21,265,871 1.66Wistron NeWeb Corp 5,918,659 11,145,254 0.87Yuanta Financial Holding Co Ltd 29,900,000 14,937,747 1.17YungShin Global Holding Corp 2,018,000 3,341,470 0.26

389,250,388 30.40

TOTAL EQUITIES 1,268,455,937 99.06

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET 1,268,455,937 99.06



Invesco Greater China Equity Fund


48 Invesco Funds



EQUITIESAUSTRALIAAdelaide Brighton Ltd 2,900,000 8,697,694 0.84APA Group 2,788,615 14,907,449 1.44BHP Billiton Ltd 794,200 25,367,431 2.45Boral Ltd 2,720,000 10,200,336 0.99Rio Tinto Ltd 134,412 7,004,594 0.68Sydney Airport 6,782,727 22,889,425 2.21Telstra Corp Ltd 14,230,000 62,396,108 6.03Woodside Petroleum Ltd 816,910 27,892,942 2.70

179,355,979 17.34

BERMUDACheung Kong Infrastructure Holdings Ltd 2,755,000 18,614,263 1.80COSCO Pacific Ltd 11,600,000 17,051,233 1.65Kunlun Energy Co Ltd 6,494,000 9,436,896 0.91Sinopec Kantons Holdings Ltd 10,264,000 9,786,958 0.95

54,889,350 5.31

CAYMAN ISLANDSENN Energy Holdings Ltd 1,100,000 5,474,859 0.53

CHINAAgricultural Bank of China Ltd-A 44,499,909 17,925,037 1.73Beijing Capital International Airport Co Ltd 11,246,000 7,373,641 0.71China CNR Corp Ltd-A 24,999,990 17,832,330 1.72China Communications Construction Co Ltd 6,500,000 4,974,243 0.48China Merchants Securities Co Ltd 7,899,920 14,697,374 1.42China Shenhua Energy Co Ltd 2,100,000 6,518,963 0.63China State Construction Engineering Corp Ltd-A 40,999,988 21,473,151 2.09Jiangsu Expressway Co Ltd 24,782,000 27,975,989 2.70SDIC Power Holdings Co Ltd 15,359,897 9,450,119 0.91Zhejiang Expressway Co Ltd 13,854,000 11,539,863 1.12

139,760,710 13.51

HONG KONGCathay Pacific Airways Ltd 5,700,000 9,789,760 0.95China Mobile Ltd 5,620,500 60,441,321 5.84China Resources Power Holdings Co Ltd 3,700,000 8,487,321 0.83China Unicom Hong Kong Ltd 6,000,000 9,082,644 0.88CNOOC Ltd 8,429,000 16,715,730 1.62Guangdong Investment Ltd 28,512,000 23,528,845 2.27Hutchison Whampoa Ltd 4,982,000 57,670,283 5.58MTR Corp Ltd 8,922,469 33,651,456 3.25Power Assets Holdings Ltd 834,500 7,185,106 0.69

226,552,466 21.91

INDIALarsen & Toubro Ltd 555,000 6,063,252 0.59Sobha Developers Ltd 686,000 2,589,762 0.25

8,653,014 0.84

INDONESIAAstra International Tbk PT 8,400,000 4,673,076 0.45Indocement Tunggal Prakarsa Tbk PT 12,750,500 22,827,129 2.20Matahari Department Store Tbk PT 6,341,500 7,157,416 0.69Mitra Pinasthika Mustika PT 20,000,000 1,913,919 0.19Modern Internasional Tbk PT 29,890,500 2,176,094 0.21Perusahaan Gas Negara Persero Tbk PT 18,000,000 8,777,471 0.85Semen Indonesia Persero Tbk PT 8,779,500 10,089,992 0.98Telekomunikasi Indonesia Persero Tbk PT 114,147,500 22,866,083 2.21United Tractors Tbk PT 9,040,655 13,060,102 1.26

93,541,282 9.04

Invesco Asia Infrastructure Fund


49 Invesco Funds

Invesco Asia Infrastructure Fund



MALAYSIADiGi.Com Bhd 7,710,000 10,996,616 1.06Gamuda Bhd 10,920,000 14,876,842 1.44Lafarge Malaysia Bhd 7,590,000 21,674,031 2.10

47,547,489 4.60

NEW ZEALANDFletcher Building Ltd 775,000 5,263,034 0.51Telecom Corp of New Zealand Ltd 3,200,000 5,650,371 0.55

10,913,405 1.06

PAKISTANOil & Gas Development Co Ltd 7,500,000 17,924,483 1.73

PHILIPPINESAyala Corp 504,170 6,163,650 0.60Philippine Long Distance Telephone Co 117,000 7,526,302 0.72

13,689,952 1.32

SINGAPOREKeppel Corp Ltd 2,096,800 16,625,780 1.61Keppel REIT 167,744 156,962 0.02Singapore Telecommunications Ltd 13,880,000 38,282,784 3.69

55,065,526 5.32

SOUTH KOREAHyundai Mobis 28,000 7,043,827 0.68Samsung Electronics Co Ltd 36,200 44,563,126 4.31SK Telecom Co Ltd 66,000 13,154,813 1.27

64,761,766 6.26

TAIWANAsia Cement Corp 13,248,732 16,536,274 1.59CTCI Corp 3,100,000 5,184,877 0.50Far EasTone Telecommunications Co Ltd 3,464,000 8,728,145 0.84Taiwan Mobile Co Ltd 3,030,000 10,910,198 1.06Taiwan Semiconductor Manufacturing Co Ltd 4,002,073 13,407,324 1.30Teco Electric and Machinery Co Ltd 5,800,000 6,061,750 0.59

60,828,568 5.88

THAILANDAdvanced Info Service PCL 2,600,000 19,425,283 1.88Siam Cement PCL 1,400,000 17,114,006 1.65Sino Thai Engineering & Construction PCL 14,528,571 8,327,185 0.81

44,866,474 4.34

TOTAL EQUITIES 1,023,825,323 98.99




50 Invesco Funds

Invesco India Equity Fund




EQUITIESBASIC MATERIALSAsian Paints Ltd 160,000 1,013,470 1.08Coromandel International Ltd 150,000 440,953 0.47Jindal Steel & Power Ltd 80,000 267,837 0.28JSW Steel Ltd 25,000 203,052 0.21

1,925,312 2.04

COMMUNICATIONSIdea Cellular Ltd 400,000 967,913 1.02Zee Entertainment Enterprises Ltd 545,000 1,922,802 2.04

2,890,715 3.06

CONSUMER, CYCLICALBajaj Auto Ltd 48,000 1,330,625 1.41Bata India Ltd 115,000 1,430,190 1.51Mahindra & Mahindra Ltd 140,000 1,655,018 1.75Maruti Suzuki India Ltd 120,000 2,264,689 2.40Sobha Developers Ltd 600,000 2,265,098 2.39Tata Motors Ltd 500,000 2,261,806 2.39

11,207,426 11.85

CONSUMER, NON-CYCLICALBajaj Corp Ltd 200,000 746,178 0.79Cadila Healthcare Ltd 170,000 1,679,287 1.78Dr Reddy’s Laboratories Ltd 72,000 2,496,625 2.64Godrej Consumer Products Ltd 170,000 2,082,996 2.20Ipca Laboratories Ltd 50,000 469,162 0.50ITC Ltd 880,000 4,132,950 4.37Lupin Ltd 300,000 3,647,950 3.86

15,255,148 16.14

ENERGYCoal India Ltd 225,000 861,501 0.91Oil & Natural Gas Corp Ltd 125,000 476,814 0.50Oil India Ltd 185,000 1,203,116 1.27Reliance Industries Ltd 235,000 3,020,642 3.20

5,562,073 5.88

FINANCIALAxis Bank Ltd 165,000 2,095,153 2.22HDFC Bank Ltd 685,000 6,124,255 6.47Housing Development Finance Corp 630,000 6,908,356 7.30ICICI Bank Ltd 230,000 2,851,416 3.02IndusInd Bank Ltd 100,000 534,395 0.57ING Vysya Bank Ltd 175,000 1,160,200 1.23Jammu & Kashmir Bank Ltd 315,000 5,297,002 5.60Kotak Mahindra Bank Ltd 150,000 1,472,813 1.56State Bank of India 50,000 1,152,566 1.22Yes Bank Ltd 70,000 258,699 0.27

27,854,855 29.46

INDUSTRIALGrasim Industries Ltd 45,000 1,516,801 1.60Larsen & Toubro Ltd 140,000 1,529,469 1.62Pidilite Industries Ltd 330,000 1,122,934 1.19

4,169,204 4.41

51 Invesco Funds


TECHNOLOGYHCL Technologies Ltd 295,000 4,661,309 4.93Infosys Ltd 185,000 8,699,579 9.20Tata Consultancy Services Ltd 260,000 7,986,531 8.45

21,347,419 22.58


BONDSCHEMICALSCoromandel International Ltd 9% INR 23/07/2016 4,500,000 64,545 0.07

TOTAL BONDS 64,545 0.07

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCK EXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET 90,276,697 95.49



Invesco India Equity Fund


52 Invesco Funds

Invesco Asia Consumer Demand Fund




EQUITIESBERMUDABrilliance China Automotive Holdings Ltd 9,300,000 13,622,419 2.04Haier Electronics Group Co Ltd 6,500,000 11,398,435 1.71Jardine Matheson Holdings Ltd 150,000 7,960,500 1.19

32,981,354 4.94

CAYMAN ISLANDSBaidu Inc ADR 65,804 9,195,780 1.38Belle International Holdings Ltd 7,000,000 9,675,775 1.45China Mengniu Dairy Co Ltd 4,170,000 17,649,554 2.65Chow Tai Fook Jewellery Group Ltd 8,500,000 11,716,276 1.76Ctrip.com International Ltd ADR 215,000 10,080,275 1.51Hengan International Group Co Ltd 960,000 10,503,064 1.58Lifestyle International Holdings Ltd 5,960,000 12,849,182 1.93Longfor Properties Co Ltd 4,900,000 8,169,351 1.23Minth Group Ltd 7,270,000 13,011,184 1.95SA SA International Holdings Ltd 6,700,000 7,157,482 1.07Tencent Holdings Ltd 370,000 17,351,538 2.60

127,359,461 19.11

CHINABank of China Ltd 21,000,000 8,827,340 1.33China Life Insurance Co Ltd-H Shares 3,160,000 7,745,726 1.16China Telecom Corp Ltd 14,400,000 7,250,642 1.09Dongfeng Motor Group Co Ltd 6,900,000 9,546,447 1.43Industrial & Commercial Bank of China Ltd 14,500,500 9,498,163 1.43Luzhou Laojiao Co Ltd 2,395,917 8,846,432 1.33Ping An Insurance Group Co of China Ltd 990,000 6,928,321 1.04

58,643,071 8.81

HONG KONGAIA Group Ltd 3,660,000 16,021,892 2.40China Mobile Ltd 2,020,000 21,722,528 3.26Emperor Watch & Jewellery Ltd 56,000,000 4,224,126 0.63Galaxy Entertainment Group Ltd 3,170,000 19,302,972 2.90Lifestyle Properties Development Ltd** 298,000 – –

61,271,518 9.19

INDIABajaj Auto Ltd 355,000 9,841,083 1.48ICICI Bank Ltd 650,000 8,058,348 1.21ITC Ltd 1,540,000 7,232,663 1.09Lupin Ltd 740,000 8,998,276 1.35Maruti Suzuki India Ltd 460,000 8,681,309 1.30Sobha Developers Ltd 1,360,000 5,134,222 0.77

47,945,901 7.20

INDONESIAAstra International Tbk PT 27,000,000 15,020,603 2.25Indofood CBP Sukses Makmur Tbk PT 10,200,000 9,364,010 1.41Matahari Department Store Tbk PT 8,900,000 10,045,100 1.51Media Nusantara Citra Tbk PT 16,000,000 4,304,029 0.65Mitra Pinasthika Mustika PT 22,476,000 2,150,862 0.32Modern Internasional Tbk PT 46,500,150 3,385,313 0.51Surya Citra Media Tbk PT 41,977,376 9,658,255 1.45

53,928,172 8.10

MALAYSIAAstro Malaysia Holdings Bhd 9,760,000 8,735,590 1.31Genting Bhd 3,260,000 9,254,682 1.39

17,990,272 2.70

53 Invesco Funds


PHILIPPINESAlliance Global Group Inc 20,000,000 11,603,142 1.74Ayala Land Inc 11,200,000 6,648,432 1.00

18,251,574 2.74

SINGAPORECapitaLand Ltd 4,050,000 9,676,784 1.45CapitaMalls Asia Ltd 9,000,000 12,694,048 1.91Raffles Medical Group Ltd 3,867,913 9,059,615 1.36Singapore Telecommunications Ltd 3,870,000 10,673,946 1.60

42,104,393 6.32

SOUTH KOREAAmorepacific Corp 12,160 9,864,492 1.48Hyundai Mobis 94,000 23,647,132 3.55Hyundai Motor Co 150,000 33,680,915 5.06Samsung Electronics Co Ltd 26,800 32,991,486 4.95Samsung Life Insurance Co Ltd 116,500 11,072,249 1.66

111,256,274 16.70

TAIWANHon Hai Precision Industry Co Ltd 4,246,984 11,517,066 1.73HTC Corp 1,180,000 6,161,334 0.92President Chain Store Corp 2,670,000 18,625,608 2.80Uni-President Enterprises Corp 7,038,807 12,784,134 1.92

49,088,142 7.37

THAILANDBangkok Dusit Medical Services PCL 2,000,000 7,999,377 1.20Kasikornbank PCL 1,592,421 7,902,740 1.19Kasikornbank PCL NVDR 507,579 2,511,088 0.38

18,413,205 2.77

UNITED KINGDOMGenting Singapore Plc 10,200,000 10,504,810 1.58



OPEN-ENDED FUNDSLUXEMBOURGDB X-Trackers CSI300 UCITS ETF 11,760,000 8,415,758 1.26





Invesco Asia Consumer Demand Fund


54 Invesco Funds



EQUITIESBERMUDAGiordano International Ltd 622,000 597,503 1.65Man Wah Holdings Ltd 310,000 376,535 1.04Pou Sheng International Holdings Ltd 3,160,000 151,777 0.42

1,125,815 3.11

CAYMAN ISLANDSAAC Technologies Holdings Inc 198,000 895,480 2.47Ajisen China Holdings Ltd 785,000 845,686 2.33Asia Cement China Holdings Corp 2,714,000 1,286,057 3.55Baidu Inc ADR 6,785 948,170 2.62China Dongxiang Group Co 6,872,000 1,120,899 3.09Chow Tai Fook Jewellery Group Ltd 236,000 325,299 0.90Ctrip.com International Ltd ADR 16,633 779,838 2.15FIH Mobile Ltd 2,648,000 1,724,259 4.76Golden Eagle Retail Group Ltd 248,000 343,758 0.95Microport Scientific Corp 1,117,000 741,023 2.04Minth Group Ltd 1,292,000 2,312,303 6.37SINA Corp 4,981 396,388 1.09Stella International Holdings Ltd 76,000 186,290 0.51Tencent Holdings Ltd 14,100 661,234 1.82Towngas China Co Ltd 540,000 508,636 1.40Uni-President China Holdings Ltd 1,083,000 925,140 2.55Vinda International Holdings Ltd 972,000 993,876 2.75WuXi PharmaTech Cayman Inc ADR 15,000 365,325 1.01

15,359,661 42.36

CHINAAnhui Conch Cement Co Ltd 308,000 993,843 2.74Bank of China Ltd 3,581,000 1,505,272 4.15China Construction Bank Corp 2,087,000 1,528,493 4.23China Life Insurance Co Ltd-H Shares 623,000 1,527,085 4.21China Petroleum & Chemical Corp 2,778,000 2,000,545 5.51China Shenhua Energy Co Ltd 414,000 1,285,167 3.55Jiangling Motors Corp Ltd 178,379 473,235 1.31Shanghai Jinjiang International Hotels Development Co Ltd 857,693 1,192,193 3.28

10,505,833 28.98

HONG KONGChina Mobile Ltd 133,500 1,435,623 3.96China Unicom Hong Kong Ltd 1,068,000 1,616,710 4.46CITIC Telecom International Holdings Ltd 2,909,000 770,812 2.13Lenovo Group Ltd 350,000 338,246 0.93Sun Art Retail Group Ltd 1,203,000 1,634,930 4.51

5,796,321 15.99

LUXEMBOURGL’Occitane International SA 232,500 563,903 1.56

TAIWANMediaTek Inc 109,000 1,334,975 3.68Uni-President Enterprises Corp 378,420 687,300 1.90

2,022,275 5.58





Invesco China Focus Equity Fund


55 Invesco Funds



EQUITIESBERMUDAJardine Matheson Holdings Ltd 1,600 84,912 2.12Pacific Basin Shipping Ltd 70,000 43,821 1.10

128,733 3.22

CAYMAN ISLANDSBaidu Inc ADR 1,326 185,302 4.64Changyou.com Ltd ADR 4,197 120,538 3.02Daphne International Holdings Ltd 26,000 16,544 0.41E-House China Holdings Ltd ADR 10,098 63,971 1.60EVA Precision Industrial Holdings Ltd 538,000 67,636 1.69HKR International Ltd 253,600 120,498 3.02Samson Holding Ltd 351,000 46,843 1.18

621,332 15.56

CHINAChina Shenhua Energy Co Ltd 18,500 57,429 1.44Industrial & Commercial Bank of China Ltd 123,000 80,568 2.02Qingling Motors Co Ltd 382,000 95,556 2.39

233,553 5.85

HONG KONGAIA Group Ltd 22,600 98,933 2.48Cathay Pacific Airways Ltd 43,000 73,853 1.85China Taiping Insurance Holdings Co Ltd 10,000 13,642 0.34CNOOC Ltd 63,000 124,937 3.13Hutchison Whampoa Ltd 17,000 196,787 4.93

508,152 12.73

INDIAICICI Bank Ltd ADR 2,815 73,767 1.85Infosys Ltd ADR 1,410 65,156 1.63Tata Motors Ltd ADR 2,883 65,862 1.65

204,785 5.13

INDONESIABank Negara Indonesia Persero Tbk PT 189,500 66,160 1.66

LUXEMBOURGSamsonite International SA 23,100 60,092 1.51

PHILIPPINESFilinvest Land Inc 2,343,000 76,962 1.92LT Group Inc 73,100 31,813 0.80

108,775 2.72

SINGAPORECambridge Industrial Trust 171,000 87,216 2.18Goodpack Ltd 61,000 78,499 1.97United Overseas Bank Ltd 4,000 62,601 1.57

228,316 5.72

SOUTH KOREAHyundai Mobis 527 132,575 3.32Korea Electric Power Corp 3,120 86,147 2.16Korean Reinsurance Co 6,850 72,045 1.80LG Fashion Corp 3,040 70,862 1.78POSCO 334 96,961 2.43Samsung Electronics Co Ltd 220 270,825 6.79Shinhan Financial Group Co Ltd 3,320 121,878 3.06

851,293 21.34

Invesco Asian Focus Equity Fund



TAIWANHon Hai Precision Industry Co Ltd 32,100 87,050 2.18Taiwan Semiconductor Manufacturing Co Ltd 49,000 164,154 4.11

251,204 6.29

THAILANDAdvanced Info Service PCL 200 1,494 0.04Kasikornbank PCL 14,400 71,463 1.79

72,957 1.83

UNITED KINGDOMHSBC Holdings Plc 11,200 118,384 2.96Standard Chartered Plc 2,050 46,139 1.16

164,523 4.12



OPEN-ENDED FUNDSLUXEMBOURGDB X-Trackers MSCI India TRN Index ETF 21,220 146,312 3.66




Invesco Asian Focus Equity Fund


56 Invesco Funds

57 Invesco Funds



EQUITIESBERMUDANorwegian Cruise Line Holdings Ltd 22,340 697,120 0.52

CAYMAN ISLANDSBaidu Inc ADR 5,846 816,949 0.61

ITALYPrada SpA 166,358 1,642,569 1.23

LIBERIARoyal Caribbean Cruises Ltd 31,263 1,138,130 0.86

NETHERLANDSYandex NV 12,825 410,721 0.31

UNITED KINGDOMMichael Kors Holdings Ltd 24,822 1,815,109 1.36Monitise Plc 2,657,213 1,930,880 1.45

3,745,989 2.81

UNITED STATESAmazon.com Inc 9,221 2,619,409 1.97Annie’s Inc 4,308 197,586 0.15Apple Inc 8,662 4,259,062 3.20Bebe Stores Inc 179,615 1,076,792 0.81Brunswick Corp 67,845 2,479,396 1.86CBS Corp 68,154 3,515,043 2.64Chipotle Mexican Grill Inc 2,684 1,091,972 0.82Comcast Corp 85,240 3,616,733 2.72DIRECTV 46,565 2,710,316 2.04Discovery Communications Inc 11,581 903,781 0.68DISH Network Corp 127,196 5,644,959 4.24Dollar General Corp 13,666 742,952 0.56Domino’s Pizza Inc 33,023 2,048,912 1.54DR Horton Inc 36,683 674,417 0.51eBay Inc 12,481 636,406 0.48Electronic Arts Inc 48,259 1,329,777 1.00Express Inc 41,568 880,618 0.66Facebook Inc 176,139 7,270,137 5.47Ford Motor Co 208,076 3,435,335 2.58Gap Inc 42,139 1,715,689 1.29General Motors Co 126,502 4,358,626 3.28Google Inc 1,516 1,296,620 0.97Group 1 Automotive Inc 19,510 1,498,953 1.13Harley-Davidson Inc 36,811 2,209,212 1.66Home Depot Inc 40,899 3,069,265 2.31Interpublic Group of Cos Inc 310,702 4,938,608 3.71Jarden Corp 23,228 1,011,463 0.76Las Vegas Sands Corp 25,975 1,474,211 1.11La-Z-Boy Inc 91,408 2,003,206 1.51Lowe’s Cos Inc 66,788 3,101,301 2.33Macy’s Inc 48,095 2,145,758 1.61Marriott International Inc 11,174 449,809 0.34Mattress Firm Holding Corp 45,049 1,875,615 1.41Millennial Media Inc 48,447 326,291 0.25National CineMedia Inc 63,861 1,180,471 0.89Noodles & Co 7,461 344,586 0.26Nordstrom Inc 27,805 1,556,385 1.17Papa John’s International Inc 26,901 1,872,310 1.41Penn National Gaming Inc 47,192 2,488,670 1.87Pool Corp 40,276 2,133,621 1.60priceline.com Inc 1,604 1,508,835 1.13PulteGroup Inc 78,769 1,249,670 0.94PVH Corp 18,856 2,430,916 1.83Rovi Corp 36,771 677,506 0.51Scripps Networks Interactive Inc 30,111 2,223,547 1.67

Invesco Global Leisure Fund


58 Invesco Funds


UNITED STATES (continued)Sinclair Broadcast Group Inc 19,946 489,176 0.37Sirius XM Radio Inc 669,332 2,433,022 1.83Southwest Airlines Co 64,203 821,477 0.62Starbucks Corp 7,597 540,754 0.41Taylor Morrison Home Corp 18,430 385,463 0.29Thor Industries Inc 23,294 1,209,192 0.91Tilly’s Inc 16,665 237,060 0.18Time Warner Cable Inc 18,359 1,976,071 1.49Time Warner Inc 42,870 2,615,284 1.97TJX Cos Inc 22,585 1,197,118 0.90Trex Co Inc 53,865 2,427,965 1.83Twenty-First Century Fox Inc 83,646 2,628,576 1.98Under Armour Inc 20,526 1,505,377 1.13Viacom Inc ‘A’ 14,650 1,168,118 0.88Viacom Inc ‘B’ 25,333 2,011,820 1.51Walt Disney Co 56,752 3,466,696 2.61Wyndham Worldwide Corp 7,485 445,694 0.33Yum! Brands Inc 10,031 707,637 0.53

120,541,247 90.65





Invesco Global Leisure Fund


59 Invesco Funds



EQUITIESCANADACanadian Natural Resources Ltd 159,772 4,976,045 2.59Cenovus Energy Inc 65,978 1,923,494 1.00Suncor Energy Inc 145,311 4,984,166 2.59Ultra Petroleum Corp 136,755 2,872,539 1.49

14,756,244 7.67

PORTUGALGalp Energia SGPS SA 97,375 1,666,595 0.87

SWITZERLANDWeatherford International Ltd 781,697 11,690,279 6.08

UNITED KINGDOMBG Group Plc 198,395 3,785,195 1.97BP Plc ADR 97,792 4,072,548 2.12Ensco Plc 83,637 4,655,654 2.42Royal Dutch Shell Plc ADR 44,262 2,891,415 1.50

15,404,812 8.01

UNITED STATESAnadarko Petroleum Corp 107,550 9,855,344 5.13Apache Corp 96,822 7,615,534 3.96Cabot Oil & Gas Corp 69,844 2,752,203 1.43Cameron International Corp 129,344 7,425,639 3.86Chevron Corp 84,736 10,197,554 5.30Cobalt International Energy Inc 46,610 1,147,538 0.60Concho Resources Inc 54,854 5,288,200 2.75Devon Energy Corp 99,802 5,665,261 2.95Dow Chemical Co 63,978 2,400,775 1.25EOG Resources Inc 38,137 5,990,751 3.12EQT Corp 30,733 2,632,742 1.37Exxon Mobil Corp 78,792 6,874,996 3.58FMC Technologies Inc 35,117 1,888,768 0.98Halliburton Co 166,994 8,103,384 4.22Helmerich & Payne Inc 53,401 3,377,880 1.76Marathon Oil Corp 168,046 5,806,830 3.02Marathon Petroleum Corp 47,789 3,519,421 1.83Midstates Petroleum Co Inc 485,651 2,231,566 1.16National Oilwell Varco Inc 52,181 3,879,396 2.02Noble Energy Inc 59,691 3,661,744 1.90Occidental Petroleum Corp 120,119 10,599,901 5.51Oceaneering International Inc 33,624 2,652,429 1.38Phillips 66 66,847 3,859,077 2.01Range Resources Corp 26,263 1,983,907 1.03Schlumberger Ltd 106,101 8,654,128 4.50Southwestern Energy Co 88,451 3,384,578 1.76Superior Energy Services Inc 47,828 1,200,722 0.62Tidewater Inc 77,702 4,228,931 2.20Whiting Petroleum Corp 108,939 5,534,101 2.88

142,413,300 74.08





Invesco Energy Fund


60 Invesco Funds



EQUITIESAUSTRALIABWP Trust 16,676 34,287 0.21CFS Retail Property Trust Group 58,017 104,507 0.65Charter Hall Group 26,622 83,296 0.52Charter Hall Retail REIT 20,468 67,700 0.42Commonwealth Property Office Fund 66,998 69,026 0.43Dexus Property Group 126,987 116,642 0.73Federation Centres Ltd 70,824 144,037 0.90Goodman Group 25,869 106,725 0.67GPT Group 19,202 61,024 0.38Stockland 50,310 167,531 1.04Westfield Group 8,671 85,925 0.54Westfield Retail Trust 32,402 84,435 0.53

1,125,135 7.02

BERMUDAKerry Properties Ltd 9,000 36,555 0.23

CANADAAllied Properties Real Estate Investment Trust 3,500 103,767 0.65Artis Real Estate Investment Trust 6,000 77,581 0.48Brookfield Office Properties Inc 7,665 123,077 0.77Canadian Apartment Properties REIT 5,600 108,468 0.68Canadian Real Estate Investment Trust 1,500 58,108 0.36Chartwell Retirement Residences 18,400 165,868 1.03Cominar Real Estate Investment Trust 6,400 113,775 0.71Dundee Real Estate Investment Trust 3,400 94,033 0.59H&R Real Estate Investment Trust 1,040 20,371 0.13Morguard Real Estate Investment Trust 1,800 26,995 0.17RioCan Real Estate Investment Trust 3,100 70,356 0.44

962,399 6.01

CAYMAN ISLANDSShimao Property Holdings Ltd 19,000 48,385 0.30SOHO China Ltd 140,000 118,691 0.74

167,076 1.04

FINLANDSponda OYJ 6,414 32,438 0.20

FRANCEGecina SA 536 63,377 0.39ICADE 720 61,894 0.39Klepierre 1,077 43,133 0.27Mercialys SA 6,087 118,021 0.74Unibail-Rodamco SE 898 203,896 1.27

490,321 3.06

GERMANYAlstria Office REIT 7,092 84,120 0.52Deutsche Euroshop AG 2,379 97,513 0.61

181,633 1.13

HONG KONGLink REIT 23,500 107,569 0.67Sino Land Co Ltd 46,400 62,342 0.39Wharf Holdings Ltd 14,000 114,990 0.72

284,901 1.78

JAPANActivia Properties Inc 15 103,706 0.65Advance Residence Investment Corp 53 107,608 0.67Frontier Real Estate Investment Corp 10 84,818 0.53

Invesco Global Income Real Estate Securities Fund


61 Invesco Funds


JAPAN (continued)GLP J-Reit 97 94,768 0.59Hulic Co Ltd 3,900 48,149 0.30Industrial & Infrastructure Fund Investment Corp 16 141,737 0.88Japan Prime Realty Investment Corp 48 137,412 0.86Japan Retail Fund Investment Corp 38 69,782 0.44Kenedix Realty Investment Corp 20 75,349 0.47Mitsui Fudosan Co Ltd 4,000 126,464 0.79Nippon Prologis REIT Inc 8 70,013 0.44Nomura Real Estate Office Fund Inc 15 64,110 0.40Nomura Real Estate Residential Fund Inc 13 60,890 0.38Orix JREIT Inc 29 30,813 0.19Sumitomo Realty & Development Co Ltd 2,000 88,128 0.55

1,303,747 8.14

NEW ZEALANDPrecinct Properties New Zealand Ltd 49,639 40,498 0.25

NORWAYNorwegian Property ASA 22,553 29,410 0.18

SINGAPOREAscendas Real Estate Investment Trust 65,000 111,443 0.70Ascott Residence Trust 21,000 19,733 0.12CapitaCommercial Trust 46,000 48,638 0.30CapitaLand Ltd 26,000 62,122 0.39CapitaMall Trust 25,000 36,438 0.23Fortune REIT 118,000 96,007 0.60Frasers Centrepoint Trust 43,000 60,228 0.38Global Logistic Properties Ltd 28,000 58,882 0.37Mapletree Commercial Trust 56,000 49,544 0.31Mapletree Industrial Trust 49,000 49,119 0.31Mapletree Logistics Trust 80,000 66,383 0.41Starhill Global REIT 92,000 55,045 0.34Suntec Real Estate Investment Trust 85,000 101,213 0.63

814,795 5.09

SOUTH AFRICACapital Property Fund 17,956 17,233 0.11Fountainhead Property Trust 78,346 57,085 0.36Growthpoint Properties Ltd 34,402 78,466 0.49Hyprop Investments Ltd 3,528 24,168 0.15

176,952 1.11

SWEDENFabege AB 3,300 34,455 0.22

UNITED KINGDOMBig Yellow Group Plc 18,696 120,133 0.75British Land Co Plc 21,077 184,115 1.15Hammerson Plc 6,466 48,955 0.31Hansteen Holdings Plc 34,058 52,823 0.33Intu Properties Plc 10,545 50,119 0.31Land Securities Group Plc 12,216 169,015 1.05Shaftesbury Plc 9,715 89,458 0.56

714,618 4.46

UNITED STATESAcadia Realty Trust 5,200 123,032 0.77Alexandria Real Estate Equities Inc (Preferred) 7,100 178,281 1.11AvalonBay Communities Inc 2,274 282,613 1.76BioMed Realty Trust Inc 3,800 70,319 0.44Boston Properties Inc 1,000 102,375 0.64Brandywine Realty Trust (Preferred) 3,852 94,836 0.59CBL & Associates Properties Inc (Preferred) 5,500 126,033 0.79CBL & Associates Properties Inc 7,700 149,649 0.93



62 Invesco Funds


UNITED STATES ( continued)Chesapeake Lodging Trust (Preferred) 1,800 45,036 0.28CoreSite Realty Corp (Preferred) 6,000 144,420 0.90Corporate Office Properties Trust (Preferred) 5,500 132,605 0.83Corrections Corp of America 2,698 90,747 0.57DCT Industrial Trust Inc 9,600 64,752 0.40DDR Corp Series J (Preferred) 6,500 148,915 0.93DDR Corp Series K (Preferred) 6,500 143,455 0.90Digital Realty Trust Inc 1,800 100,251 0.63Digital Realty Trust Inc Series G (Preferred) 4,200 85,197 0.53Duke Realty Corp Series J (Preferred) 2,840 68,629 0.43Duke Realty Corp Series L (Preferred) 2,100 49,623 0.31DuPont Fabros Technology Inc (Preferred) 3,500 85,750 0.54EastGroup Properties Inc 1,600 90,664 0.57EPR Properties 1,600 79,008 0.49EPR Properties Series E (Preferred) 3,900 113,666 0.71EPR Properties Series F (Preferred) 2,000 44,270 0.28Essex Property Trust Inc 700 101,090 0.63Essex Property Trust Inc (Preferred) 3,336 85,652 0.53Extra Space Storage Inc 1,500 62,258 0.39Government Properties Income Trust 4,900 116,302 0.73Health Care REIT Inc 1,300 79,670 0.50Health Care REIT Inc Series I (Preferred) 3,700 212,491 1.33Health Care REIT Inc Series J (Preferred) 2,522 59,431 0.37Healthcare Realty Trust Inc 3,100 70,261 0.44Hersha Hospitality Trust 6,100 32,117 0.20Hersha Hospitality Trust Series B (Preferred) 3,500 87,990 0.55Hersha Hospitality Trust Series C (Preferred) 595 13,592 0.09Hospitality Properties Trust 4,600 126,155 0.79Hudson Pacific Properties Inc (Preferred) 4,406 112,794 0.70Inland Real Estate Corp 8,500 85,383 0.53Kilroy Realty Corp (Preferred) 6,000 139,710 0.87LaSalle Hotel Properties Series G (Preferred) 2,465 60,183 0.38LaSalle Hotel Properties Series H (Preferred) 700 17,454 0.11LaSalle Hotel Properties Series I (Preferred) 1,800 38,088 0.24Liberty Property Trust 2,700 93,676 0.58LTC Properties Inc 2,000 71,980 0.45Mid-America Apartment Communities Inc 2,300 142,060 0.89National Retail Properties Inc (Preferred) 4,000 91,820 0.57Pebblebrook Hotel Trust Series A (Preferred) 4,000 101,340 0.63Pebblebrook Hotel Trust Series B (Preferred) 2,000 50,750 0.32Pebblebrook Hotel Trust Series C (Preferred) 2,809 61,327 0.38Piedmont Office Realty Trust Inc 4,600 79,373 0.50PS Business Parks Inc (Preferred) 2,100 48,531 0.30Public Storage 900 137,507 0.86Realty Income Corp (Preferred) 2,200 55,181 0.34Regency Centers Corp Series 6 (Preferred) 5,500 128,040 0.80Regency Centers Corp Series 7 (Preferred) 2,000 42,900 0.27Retail Opportunity Investments Corp 12,800 168,896 1.05RLJ Lodging Trust 2,000 46,470 0.29Saul Centers Inc (Preferred) 7,000 166,110 1.04Senior Housing Properties Trust 5,300 121,767 0.76Senior Housing Properties Trust (Preferred) 3,119 65,780 0.41Simon Property Group Inc 1,100 160,963 1.00SL Green Realty Corp (Preferred) 9,000 209,430 1.31Summit Hotel Properties Inc (Preferred) 1,779 43,968 0.27Sun Communities Inc (Preferred) 94 2,291 0.01Taubman Centers Inc Series J (Preferred) 3,017 69,074 0.43Taubman Centers Inc Series K (Preferred) 6,000 131,550 0.82Terreno Realty Corp (Preferred) 1,829 46,731 0.29Urstadt Biddle Properties Inc 1,800 35,739 0.22Ventas Inc 1,400 87,577 0.55Ventas Realty LP / Ventas Capital Corp (Preferred) 3,000 63,675 0.40Vornado Realty Trust Series I (Preferred) 3,800 92,397 0.58Vornado Realty Trust Series L (Preferred) 3,000 62,460 0.39Weyerhaeuser Co (Preferred) 3,000 159,870 1.00

6,953,980 43.42




63 Invesco Funds


BONDSAUSTRALIAGeneral Property Trust 6.75% AUD 24/01/2019 20,000 19,238 0.12

BRAZILBR Properties SA 144A 9% USD Perpetual 150,000 147,150 0.92

CAYMAN ISLANDSKWG Property Holding Ltd 144A 12.5% USD 18/08/2017 200,000 221,000 1.38

UNITED KINGDOMEpic More London plc FRN GBP 15/07/2017 50,000 71,726 0.45Hercules Eclipse 2006-4 Plc FRN GBP 25/10/2018 149,706 197,061 1.23LCP Proudreed Plc FRN GBP 25/08/2016 97,699 148,933 0.93Nemus II Arden Plc FRN GBP 15/02/2020 101,740 154,429 0.96Triton European Loan Conduit No 26 Plc FRN 0.749% GBP 25/10/2019 1,703 2,630 0.02Triton European Loan Conduit No 26 Plc FRN 1.009% GBP 25/10/2019 29,277 44,762 0.28Windermere XI Cmbs Plc FRN GBP 24/04/2017 55,839 83,641 0.52

703,182 4.39

UNITED STATESBear Stearns Commercial Mortgage Securities Trust 4.898% USD 11/06/2041 200,000 181,113 1.13Bear Stearns Commercial Mortgage Securities Trust C 4.858% USD 11/06/2041 100,000 98,107 0.61CD 2005-CD1 Commercial Mortgage Trust FRN USD 15/07/2044 50,000 48,862 0.31Credit Suisse First Boston 5.1% USD 15/09/2015 25,000 25,681 0.16Credit Suisse First Boston Mortgage Securities Corp 4.882% USD 15/07/2037 50,000 46,398 0.29Credit Suisse First Boston Mortgage Securities Corp FRN USD 15/08/2038 50,000 49,034 0.31Credit Suisse First Boston Var 5.745% USD 15/12/2036 50,000 49,415 0.31DLJ Commercial Mortgage Corp 144A 7.459% USD 10/06/2031 3,401 3,405 0.02JPMorgan Chase Co 4.368% USD 15/01/2042 50,000 47,756 0.30Morgan Stanley 4.302% USD 15/10/2022 100,000 87,192 0.55Morgan Stanley Capital I Inc 5.447% USD 01/09/2042 25,000 25,425 0.16Morgan Stanley Capital I Trust 2006-HQ8 “Class C” FRN USD 12/03/2044 150,000 141,272 0.88Morgan Stanley Capital I Trust 2006-HQ8 “Class D” FRN USD 12/03/2044 100,000 91,601 0.57Morgan Stanley Capital I Trust 2007-HQ11 FRN USD 12/02/2044 150,000 156,017 0.97Morgan Stanley Capital I Trust 2007-TOP27 FRN USD 11/06/2042 100,000 105,154 0.66Senior Housing Properties Trust 4.3% USD 15/01/2016 100,000 103,472 0.64Wachovia Bank Commercial Mortgage Trust 144A 6.043% USD 15/10/2041 44,000 43,610 0.27Wachovia Bank Commerical Mortgage Trust 5.439% USD 15/05/2044 100,000 101,433 0.63

1,404,947 8.77

TOTAL BONDS 2,495,517 15.58


OTHER TRANSFERABLE SECURITIES

EQUITIESAUSTRALIABGP Holdings** 187,667 – –

TOTAL EQUITIES – –

TOTAL OTHER TRANSFERABLE SECURITIES – –






64 Invesco Funds



EQUITIESAUSTRALIABoart Longyear Ltd 379,886 157,065 1.11

CANADAAgnico-Eagle Mines Ltd 21,128 643,876 4.53Alamos Gold Inc 30,007 493,088 3.47B2Gold Corp 143,431 398,727 2.81Barrick Gold Corp 14,561 286,779 2.02Cameco Corp 8,059 153,725 1.08Detour Gold Corp 46,002 505,408 3.56Eldorado Gold Corp 88,778 764,857 5.38Franco-Nevada Corp 14,478 669,076 4.71Goldcorp Inc 31,237 934,454 6.56Kinross Gold Corp 106,316 585,544 4.12New Gold Inc 85,522 577,496 4.06Osisko Mining Corp 87,500 444,491 3.13Pan American Silver Corp 26,447 327,546 2.30Pretium Resources Inc 14,995 126,694 0.89Rubicon Minerals Corp 139,451 227,959 1.60SEMAFO Inc 85,475 185,623 1.31Silver Wheaton Corp 24,809 660,788 4.65Tahoe Resources Inc 21,399 380,111 2.67Torex Gold Resources Inc 337,934 504,242 3.55Turquoise Hill Resources Ltd 63,551 326,456 2.30Yamana Gold Inc 59,364 683,576 4.81

9,880,516 69.51

SOUTH AFRICAGold Fields Ltd ADR 21,114 112,010 0.79

UNITED KINGDOMFresnillo Plc 24,417 507,774 3.57Lydian International Ltd 181,991 175,559 1.24Randgold Resources Ltd ADR 6,950 550,996 3.87

1,234,329 8.68

UNITED STATESNewmont Mining Corp 19,413 618,110 4.35Stillwater Mining Co 25,111 290,158 2.04

908,268 6.39



OPEN-ENDED FUNDSIRELANDSource Physical Markets Gold P-ETC 8,384 1,156,657 8.14




Invesco Gold & Precious Metals Fund


65 Invesco Funds


OTHER TRANSFERABLE SECURITIESBONDSSvenska Handelsbanken 144A FRN USD 08/06/2017 3,000,000 3,000,000 2.77

TOTAL BONDS 3,000,000 2.77

TOTAL OTHER TRANSFERABLE SECURITIES 3,000,000 2.77

MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010Australia New Zealand C/P USD 27/09/2013 4,000,000 3,999,472 3.70Bank Of Tokyo C/D USD 09/10/2013 4,000,000 3,998,845 3.70BMW Finance NV C/P USD 27/11/2013 4,000,000 3,997,727 3.69BNP Paribas C/D USD 05/09/2013 4,000,000 3,999,867 3.70Caisse Des Depots C/P USD 16/09/2013 4,000,000 3,999,622 3.70Fms Wertmanagement C/P USD 05/12/2013 4,000,000 3,998,276 3.69HSBC France C/D USD 19/11/2013 4,000,000 3,998,292 3.69Kingdom Of Sweden C/P USD 26/09/2013 4,000,000 3,999,340 3.70Macquarie Bank C/P USD 07/10/2013 5,000,000 4,998,682 4.62Matchpoint Finance C/P USD 27/11/2013 4,000,000 3,998,023 3.69Mizuho Bank Ltd C/D USD 15/11/2013 4,000,000 3,997,777 3.69Natixis C/D USD 19/09/2013 4,000,000 3,999,533 3.70Nederlandse Water C/P USD 16/10/2013 4,000,000 3,999,303 3.70Standard Chartered Bank C/P USD 10/12/2013 4,000,000 3,996,549 3.69Sumitomo Mitsui Banking C/P USD 24/09/2013 4,000,000 3,999,472 3.70Toyota Kreditbank C/P USD 12/09/2013 4,000,000 3,999,653 3.70

TOTAL MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010 64,980,433 60.06

OPEN-ENDED FUNDSShort-Term Investments Co Global Series - US Dollar Liquidity Portfolio 8,450,000 8,450,000 7.81




Invesco USD Reserve Fund


66 Invesco Funds


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010Bank Of Tokyo C/D EUR 23/12/2013 5,000,000 4,997,765 1.41Bank Of Tokyo C/D EUR 13/01/2014 5,000,000 4,996,980 1.41Cancara Asset Securitisation C/P EUR 09/09/2013 10,000,000 9,999,862 2.82Caterpillar International Finance Ltd C/P EUR 12/09/2013 7,000,000 6,999,874 1.98Fms Wertmanagement C/P EUR 23/09/2013 7,000,000 6,999,907 1.98GE Captial Europe C/P EUR 10/01/2014 7,000,000 6,995,091 1.97HSBC France C/D EUR 24/09/2013 13,000,000 12,999,322 3.67Landesbank Hessen C/P EUR 01/10/2013 10,000,000 9,999,823 2.82LMA SA C/P EUR 19/09/2013 10,000,000 9,999,445 2.82Macquarie Bank Ltd C/P EUR 24/09/2013 8,000,000 7,999,222 2.26Macquarie Bank Ltd C/P EUR 30/09/2013 8,000,000 7,999,037 2.26Matchpoint Finance C/P EUR 25/11/2013 7,000,000 6,997,514 1.97Mont Blanc Capital C/P EUR 14/11/2013 7,000,000 6,997,195 1.97Nordea Bank C/P EUR 19/09/2013 3,000,000 2,999,850 0.85Nordea Bank C/P EUR 08/10/2013 10,000,000 9,998,593 2.82Nordea Bank C/P EUR 20/11/2013 7,000,000 6,998,084 1.97Norinchukin Bank C/D EUR 24/10/2013 10,000,000 9,998,703 2.82Procter And Gamble Co C/P EUR 23/09/2013 7,000,000 6,999,674 1.98Rabobank Nederland C/D EUR 10/01/2014 8,000,000 7,997,930 2.26Regency Assets C/P EUR 30/09/2013 15,000,000 14,998,450 4.23Standard Chartered Bank C/P EUR 03/12/2013 10,000,000 9,997,361 2.82Sumitomo Mitsui Banking C/P EUR 21/10/2013 8,000,000 7,998,902 2.26Sumitomo Mitsui Banking C/D EUR 22/10/2013 10,000,000 9,998,600 2.82Toyota Kreditbank C/P EUR 19/02/2014 8,000,000 7,995,005 2.26


OPEN-ENDED FUNDSShort-Term Investments Co Global Series - Euro Liquidity Portfolio 25,000,000 25,000,000 7.05




Invesco Euro Reserve Fund


67 Invesco Funds



BONDSAbbey National Treasury Services Plc 3.625% EUR 08/09/2016 500,000 714,929 0.50Abbey National Treasury Services Plc 5.75% GBP 02/03/2026 250,000 464,048 0.33Apple Inc 1% USD 03/05/2018 1,700,000 1,626,702 1.14Apple Inc 2.4% USD 03/05/2023 1,000,000 905,249 0.64Autonomous Community of Madrid Spain 5.75% EUR 01/02/2018 1,300,000 1,848,397 1.30Banco Santander SA 3.875% EUR 27/05/2014 1,000,000 1,358,409 0.95Barclays Bank Plc 4.25% GBP 12/01/2022 500,000 840,158 0.59Belgium Government Bond 3.25% EUR 28/09/2016 1,600,000 2,275,848 1.60BMW Finance NV 3.25% EUR 14/01/2019 500,000 714,518 0.50BMW Finance NV 3.375% GBP 14/12/2018 500,000 819,787 0.58Bundesobligation 0.5% EUR 13/10/2017 2,000,000 2,631,836 1.85Bundesobligation 0.75% EUR 24/02/2017 2,000,000 2,670,384 1.87Bundesrepublik Deutschland 1.5% EUR 04/09/2022 2,000,000 2,602,047 1.83Bundesrepublik Deutschland 1.5% EUR 15/05/2023 7,000,000 8,981,891 6.30Bundesrepublik Deutschland 2.25% EUR 04/09/2021 1,000,000 1,400,321 0.98Bundesrepublik Deutschland 2.5% EUR 04/01/2021 1,000,000 1,430,079 1.00Canadian Government Bond 2.75% CAD 01/09/2016 1,000,000 986,205 0.69Chrysler Group LLC 8% USD 15/06/2019 300,000 327,375 0.23Citigroup Inc 4.45% USD 10/01/2017 1,000,000 1,078,237 0.76Commonwealth Bank of Australia 2.625% EUR 12/01/2017 500,000 698,259 0.49Danske Bank A/S 3.875% EUR 28/02/2017 500,000 714,519 0.50Deutsche Telekom International Finance BV 144A 2.25% USD 06/03/2017 2,000,000 2,019,416 1.42European Financial Stability Facility 2.75% EUR 05/12/2016 1,000,000 1,408,419 0.99European Investment Bank 1.125% USD 15/09/2017 3,000,000 2,953,095 2.07European Investment Bank 1.875% USD 15/10/2019 3,000,000 2,910,237 2.04FCE Bank Plc 4.825% GBP 15/02/2017 500,000 840,643 0.59FMS Wertmanagement AoeR 3.375% EUR 17/06/2021 1,000,000 1,472,647 1.03GE Capital UK Funding 4.375% GBP 31/07/2019 750,000 1,250,947 0.88Goldman Sachs Group Inc 3.3% USD 03/05/2015 750,000 775,787 0.54Instituto de Credito Oficial 6% EUR 08/03/2021 250,000 367,595 0.26Italy Buoni Poliennali Del Tesoro 2.15% EUR 15/09/2014 2,000,000 3,282,380 2.30Italy Buoni Poliennali Del Tesoro 3.5% EUR 01/11/2017 2,000,000 2,693,079 1.89Italy Buoni Poliennali Del Tesoro 3.5% EUR 01/06/2018 2,000,000 2,677,112 1.88Italy Buoni Poliennali Del Tesoro 4.75% EUR 01/06/2017 1,000,000 1,407,520 0.99JPMorgan Chase & Co 4.5% USD 24/01/2022 500,000 519,546 0.37JPMorgan Chase & Co 5.375% GBP 18/10/2013 1,000,000 1,559,082 1.09Lloyds TSB Bank Plc 5.125% GBP 07/03/2025 500,000 873,687 0.61Lloyds TSB Bank Plc FRN AUD 19/12/2021 807,000 871,982 0.61Macquarie Bank Ltd 144A 3.45% USD 27/07/2015 1,000,000 1,035,767 0.73Merrill Lynch & Co Inc 5.75% GBP 12/12/2014 300,000 490,859 0.34Morgan Stanley 3.75% EUR 21/09/2017 500,000 708,355 0.50Morgan Stanley 5.5% USD 26/01/2020 750,000 820,521 0.58Netherlands Government Bond 144A 3.25% EUR 15/07/2021 500,000 728,334 0.51Northern Rock Asset Management Plc 5.625% USD 22/06/2017 1,000,000 1,129,165 0.79Pernod Ricard SA 5% EUR 15/03/2017 200,000 295,335 0.21Poland Government International Bond 3.375% EUR 09/07/2024 2,000,000 2,669,451 1.87Poland Government International Bond 5% USD 23/03/2022 1,000,000 1,046,464 0.73Portugal Obrigacoes do Tesouro OT 144A 3.6% EUR 15/10/2014 4,000,000 5,292,471 3.71Societe Generale SFH 2.875% EUR 14/03/2019 500,000 708,383 0.50Spain Government Bond 2.75% EUR 31/03/2015 2,000,000 2,685,687 1.89Spain Government Bond 4.25% EUR 31/10/2016 1,000,000 1,384,891 0.97Spain Government International Bond 4% USD 06/03/2018 1,000,000 996,185 0.70Telefonica Europe BV 8.25% USD 15/09/2030 1,000,000 1,179,839 0.83United Kingdom Gilt Inflation Linked 0.125% GBP 22/03/2044 1,300,000 2,115,569 1.49United Kingdom Gilt Inflation Linked 1.25% GBP 22/11/2017 1,200,000 2,691,945 1.89United States Treasury Inflation Indexed Bonds 0.125% USD 15/01/2023 4,000,000 3,852,082 2.70United States Treasury Note/Bond 0.125% USD 31/07/2014 2,000,000 1,999,805 1.40United States Treasury Note/Bond 0.375% USD 15/06/2015 1,000,000 1,000,273 0.70United States Treasury Note/Bond 0.375% USD 15/03/2016 6,000,000 5,966,953 4.19United States Treasury Note/Bond 0.625% USD 31/05/2017 1,000,000 980,859 0.69

Invesco Global Bond Fund


Invesco Global Bond Fund


68 Invesco Funds


BONDS (continued)United States Treasury Note/Bond 0.875% USD 31/12/2016 3,000,000 2,992,031 2.10United States Treasury Note/Bond 0.875% USD 31/01/2017 1,000,000 995,781 0.70United States Treasury Note/Bond 0.875% USD 28/02/2017 2,000,000 1,989,063 1.40United States Treasury Note/Bond 0.875% USD 31/07/2019 3,000,000 2,826,797 1.98United States Treasury Note/Bond 2.875% USD 15/05/2043 1,000,000 842,266 0.59United States Treasury Note/Bond 4.375% USD 15/05/2041 500,000 561,094 0.39Yorkshire Building Society 4.75% GBP 12/04/2018 400,000 685,468 0.48

TOTAL BONDS 113,644,065 79.75


OTHER TRANSFERABLE SECURITIESBONDSCanada Housing Trust No 1 FRN 1.223% CAD 15/09/2018 1,600,000 1,519,249 1.07Queensland Treasury Corp 6% AUD 14/06/2021 1,500,000 1,502,076 1.05

TOTAL BONDS 3,021,325 2.12




69 Invesco Funds



BONDSABN AMRO Bank NV 6.375% EUR 27/04/2021 1,000,000 1,107,677 0.64Aviva Plc FRN EUR 02/10/2023 1,000,000 1,003,500 0.58Banca Monte dei Paschi di Siena SpA 4.875% EUR 15/09/2016 3,000,000 3,089,134 1.79Bankia SA 4.875% EUR 31/03/2014 200,000 204,306 0.12Banque Federative du Credit Mutuel SA 2.625% EUR 24/02/2021 1,000,000 992,880 0.57Belden Inc 5.5% EUR 15/04/2023 200,000 192,786 0.11Belgium Government Bond 2.25% EUR 22/06/2023 22,240,000 21,329,132 12.33Bundesobligation 0.25% EUR 13/04/2018 4,450,000 4,337,259 2.51Bundesrepublik Deutschland 2.5% EUR 04/07/2044 1,430,000 1,387,070 0.80Cabot Financial Luxembourg SA 10.375% GBP 01/10/2019 200,000 264,478 0.15Cirsa Funding Luxembourg SA 8.75% EUR 15/05/2018 350,000 357,437 0.21City of Oslo Norway 3.6% NOK 06/12/2022 25,000,000 3,052,112 1.76Codere Finance Luxembourg SA 8.25% EUR 15/06/2015 500,000 246,250 0.14Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 1,900,000 2,124,140 1.23Crh Finance UK Plc 8.25% GBP 24/04/2015 300,000 387,801 0.22Delta Lloyd Levensverzekering NV FRN EUR 29/08/2042 1,580,000 1,782,082 1.03Direct Line Insurance Group Plc FRN GBP 27/04/2042 750,000 1,048,336 0.61France Government Bond OAT 1.75% EUR 25/05/2023 18,770,000 17,641,182 10.20Gala Group Finance Plc 8.875% GBP 01/09/2018 300,000 376,737 0.22Heathrow Finance Plc 5.375% GBP 02/09/2019 175,000 206,978 0.12Heathrow Funding Ltd 6.25% GBP 10/09/2018 380,000 507,027 0.29Heathrow Funding Ltd 7.125% GBP 14/02/2024 1,200,000 1,668,923 0.96HSBC Capital Funding LP FRN EUR Perpetual 1,300,000 1,307,335 0.76Infinis Plc 7% GBP 15/02/2019 150,000 182,660 0.11ING Bank NV FRN EUR 15/03/2019 2,850,000 2,852,690 1.65ING Bank NV FRN EUR 29/05/2023 1,000,000 1,105,642 0.64Italy Buoni Poliennali Del Tesoro 1.7% EUR 15/09/2018 12,190,000 11,969,330 6.92Italy Buoni Poliennali Del Tesoro 144A 4.75% EUR 01/09/2044 2,100,000 2,005,369 1.16Italy Buoni Poliennali Del Tesoro 5% EUR 01/09/2040 2,400,000 2,394,610 1.38Kelda Finance No 3 Plc 5.75% GBP 17/02/2020 150,000 178,270 0.10Lloyds TSB Bank Plc FRN GBP 29/05/2020 750,000 913,551 0.53Lloyds TSB Bank Plc FRN GBP 16/12/2021 500,000 701,076 0.41Lowell Group Financing Plc 10.75% GBP 01/04/2019 350,000 461,833 0.27Magnolia BC SA 9% EUR 01/08/2020 300,000 304,875 0.18Manutencoop Facility Management SpA 8.5% EUR 01/08/2020 200,000 189,000 0.11Matterhorn Financing & CY SCA 9% EUR 15/04/2019 250,000 250,000 0.14Morgan Stanley 5.75% GBP 14/02/2017 1,000,000 1,298,690 0.75Nara Cable Funding Ltd 8.875% EUR 01/12/2018 350,000 370,328 0.21Nationwide Building Society FRN EUR 20/03/2023 900,000 875,579 0.51Netherlands Government Bond 144A 1.75% EUR 15/07/2023 5,000,000 4,766,544 2.76Netherlands Government Bond 144A 3.75% EUR 15/01/2023 10,000 11,363 0.01NGG Finance Plc FRN GBP 18/06/2073 1,000,000 1,162,089 0.67Nordea Bank AB FRN EUR 10/09/2018 2,500,000 2,502,610 1.45Norway Government Bond 3.75% NOK 25/05/2021 69,690,000 9,184,092 5.31Norway Government Bond 4.5% NOK 22/05/2019 25,500,000 3,488,579 2.02Odeon & UCI Finco Plc 9% GBP 01/08/2018 100,000 121,188 0.07Old Mutual Plc 8% GBP 03/06/2021 750,000 894,827 0.52OMV AG FRN EUR Perpetual 1,350,000 1,491,223 0.86Permanent Master Issuer Plc FRN EUR 15/07/2042 350,000 355,500 0.21R&R Ice Cream Plc 8.375% EUR 15/11/2017 100,000 107,324 0.06Royal Bank of Scotland Plc 5.125% GBP 13/01/2024 1,250,000 1,653,770 0.96RWE AG FRN GBP Perpetual 1,200,000 1,465,077 0.85Santander Consumer Finance SA 3.25% EUR 20/06/2014 2,200,000 2,232,560 1.29Scottish Widows Plc 5.5% GBP 16/06/2023 1,000,000 1,132,754 0.65Slovenia Government Bond 4.625% EUR 09/09/2024 5,000,000 4,340,049 2.51Slovenia Government Bond 5.125% EUR 30/03/2026 3,000,000 2,603,690 1.51Spain Government Bond 4.5% EUR 31/01/2018 3,000,000 3,152,690 1.82Spain Government Bond 144A 5.4% EUR 31/01/2023 2,250,000 2,405,709 1.39

Invesco European Bond Fund


70 Invesco Funds


BONDS (continued)SSE Plc FRN GBP Perpetual 800,000 974,985 0.56SSE Plc FRN EUR Perpetual 600,000 636,352 0.37Sweden Government Bond 4.25% SEK 12/03/2019 110,000 14,083 0.01Travelex Financing Plc 8% GBP 01/08/2018 250,000 291,261 0.17United Kingdom Gilt 3.25% GBP 22/01/2044 2,000,000 2,202,674 1.27United Kingdom Gilt 4.5% GBP 07/12/2042 4,130,000 5,714,823 3.30United Kingdom Gilt Inflation Linked 1.875% GBP 22/11/2022 10,340,000 17,942,709 10.37UPC Holding BV 6.75% EUR 15/03/2023 200,000 196,556 0.11Veolia Environnement SA FRN EUR Perpetual 600,000 586,672 0.34Virgin Media Finance Plc 7% GBP 15/04/2023 250,000 296,384 0.17Wind Acquisition Finance SA 7.375% EUR 15/02/2018 300,000 307,500 0.18

TOTAL BONDS 162,903,702 94.19


OPEN-ENDED FUNDSShort-Term Investments Co Global Series - Sterling Liquidity Portfolio 1,680 1,967 –

TOTAL OPEN-ENDED FUNDS 1,967 –



Invesco European Bond Fund


71 Invesco Funds



BONDSAlliander NV FRN EUR Perpetual 50,000 51,962 0.49American Financial Group Inc 9.875% USD 15/06/2019 150,000 146,372 1.40Australia Government Bond 3.25% AUD 21/04/2029 180,000 106,135 1.01Australia Government Bond 4% AUD 20/08/2015 400,000 481,169 4.59Australia Government Bond 5.75% AUD 15/07/2022 100,000 77,250 0.74Banca Monte dei Paschi di Siena SpA 4.875% EUR 15/09/2016 100,000 102,971 0.98Banque Federative du Credit Mutuel SA 2.625% EUR 24/02/2021 100,000 99,288 0.95Barclays Bank Plc FRN GBP 20/01/2015 200,000 238,292 2.27Belgium Government Bond 2.25% EUR 22/06/2023 320,000 306,894 2.93Bundesobligation 0.5% EUR 23/02/2018 160,000 158,126 1.51Bundesobligation 2.25% EUR 11/04/2014 30,000 30,389 0.29Bundesrepublik Deutschland 1.5% EUR 15/05/2023 250,000 242,294 2.31Bundesrepublik Deutschland 3.75% EUR 04/01/2015 370,000 387,851 3.70Bundesschatzanweisungen 0.25% EUR 14/03/2014 50,000 50,049 0.48Canadian Government Bond 4% CAD 01/06/2041 400,000 337,710 3.22Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 100,000 111,797 1.07Crown European Holdings SA 7.125% EUR 15/08/2018 100,000 107,687 1.03Direct Line Insurance Group Plc FRN GBP 27/04/2042 100,000 139,778 1.33DNB Bank ASA FRN EUR 08/03/2022 100,000 107,345 1.02Empresa Nacional del Petroleo 5.25% USD 10/08/2020 150,000 113,389 1.08EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 45,000 49,467 0.47FCE Bank Plc 5.125% GBP 16/11/2015 50,000 62,964 0.60Gerresheimer AG 5% EUR 19/05/2018 100,000 110,430 1.05Gold Fields Orogen Holding BVI Ltd 4.875% USD 07/10/2020 250,000 150,445 1.43Hutchison Whampoa International 12 Ltd FRN USD Perpetual 300,000 238,493 2.27ING Bank NV 3% EUR 30/09/2014 350,000 359,872 3.43Italy Buoni Poliennali Del Tesoro 5% EUR 01/09/2040 270,000 269,394 2.57New Zealand Government Bond 5% NZD 15/03/2019 850,000 522,997 4.99NGG Finance Plc FRN GBP 18/06/2073 100,000 116,209 1.11Nordea Bank AB FRN EUR 15/02/2022 100,000 107,136 1.02Norway Government Bond 3.75% NOK 25/05/2021 1,430,000 188,452 1.80Norway Government Bond 4.25% NOK 19/05/2017 1,300,000 173,101 1.65Norway Government Bond 4.5% NOK 22/05/2019 1,510,000 206,579 1.97Queensland Treasury Corp 6.5% AUD 14/03/2033 250,000 190,974 1.82RWE AG FRN GBP Perpetual 100,000 122,090 1.16Scottish Widows Plc 5.5% GBP 16/06/2023 100,000 113,275 1.08Securitas AB 2.75% EUR 28/02/2017 100,000 103,254 0.98Slovenia Government Bond 4.625% EUR 09/09/2024 200,000 173,602 1.65Societe Generale SA FRN USD Perpetual 200,000 151,758 1.45Spain Government Bond 144A 4.4% EUR 31/10/2023 130,000 128,578 1.23SSE Plc FRN GBP Perpetual 100,000 121,873 1.16United Kingdom Gilt 3.25% GBP 22/01/2044 160,000 176,214 1.68United Kingdom Gilt Inflation Linked 1.25% GBP 22/11/2017 490,000 830,258 7.92United Kingdom Gilt Inflation Linked 1.875% GBP 22/11/2022 360,000 624,698 5.96United States Treasury Note/Bond 1% USD 15/01/2014 950,000 720,050 6.86United States Treasury Note/Bond 2.875% USD 15/05/2043 220,000 139,960 1.33Veolia Environnement SA FRN EUR Perpetual 100,000 97,779 0.93

TOTAL BONDS 9,646,650 91.97




Invesco Absolute Return Bond Fund


72 Invesco Funds



BONDSBundesrepublik Deutschland Bundesobligation Inflation Linked Bond 0.75% EUR 15/04/2018 700,000 780,369 3.75Caisse d’Amortissement de la Dette Sociale Index Linked Bond 1.85% EUR 25/07/2019 1,050,000 1,323,823 6.35Deutsche Bundesrepublik Inflation Linked Bond 0.1% EUR 15/04/2023 1,770,000 1,808,034 8.68Deutsche Bundesrepublik Inflation Linked Bond 1.5% EUR 15/04/2016 2,220,000 2,714,045 13.03France Government Inflation Linked Bond OAT 0.25% EUR 25/07/2018 400,000 422,535 2.03France Government Inflation Linked Bond OAT 1% EUR 25/07/2017 440,000 527,596 2.53France Government Inflation Linked Bond OAT 1.1% EUR 25/07/2022 3,750,000 4,236,446 20.34France Government Inflation Linked Bond OAT 1.3% EUR 25/07/2019 700,000 804,901 3.86France Government Inflation Linked Bond OAT 1.8% EUR 25/07/2040 580,000 741,326 3.56France Government Inflation Linked Bond OAT 2.1% EUR 25/07/2023 1,630,000 2,038,115 9.78France Government Inflation Linked Bond OAT 2.25% EUR 25/07/2020 1,350,000 1,872,923 8.99France Government Inflation Linked Bond OAT 3.15% EUR 25/07/2032 670,000 1,100,561 5.28France Government Inflation Linked Bond OAT 3.4% EUR 25/07/2029 580,000 984,676 4.73Italy Buoni Poliennali Del Tesoro 2.55% EUR 15/09/2041 400,000 362,890 1.74Reseau Ferre de France Inflation Linked Bond 2.45% EUR 28/02/2023 340,000 472,472 2.27

TOTAL BONDS 20,190,712 96.92




Invesco Euro Inflation–Linked Bond Fund


73 Invesco Funds



EQUITIESGeneral Motors Co (Preferred) 21,400 789,848 0.02

TOTAL EQUITIES 789,848 0.02

BONDSABN AMRO Bank NV FRN EUR Perpetual 8,000,000 7,470,120 0.21Achmea BV FRN EUR 04/04/2043 22,400,000 23,390,640 0.66Akzo Nobel NV 4% EUR 17/12/2018 8,000,000 8,792,151 0.25Alliander NV FRN EUR Perpetual 5,500,000 5,715,875 0.16Allianz Finance II BV 1.375% EUR 13/03/2018 2,500,000 2,504,019 0.07Allianz Finance II BV 3% EUR 13/03/2028 5,000,000 5,018,143 0.14Allianz Finance II BV 3.5% EUR 14/02/2022 7,500,000 8,136,589 0.23Allianz Finance II BV FRN EUR 08/07/2041 35,000,000 38,476,870 1.08Allianz SE FRN EUR 17/10/2042 41,000,000 44,487,431 1.25Anglo American Capital Plc 4.25% EUR 30/09/2013 6,081,000 6,097,477 0.17Anheuser-Busch InBev NV 3.25% EUR 24/01/2033 20,000,000 19,729,818 0.55Aquarius and Investments Plc for Zurich Insurance Co Ltd FRN EUR 02/10/2043 15,000,000 14,567,922 0.41Assicurazioni Generali SpA 5.125% EUR 16/09/2024 2,500,000 2,659,914 0.08AT&T Inc 3.55% EUR 17/12/2032 33,000,000 32,279,636 0.91Atlantia SpA 4.5% EUR 08/02/2019 4,000,000 4,354,957 0.12Atlas Copco AB 2.625% EUR 15/03/2019 5,000,000 5,219,507 0.15Aviva Plc FRN EUR Perpetual 2,500,000 2,493,687 0.07Aviva Plc FRN EUR 22/05/2038 27,050,000 29,839,869 0.84Aviva Plc FRN EUR 05/07/2043 8,582,000 8,912,593 0.25AXA SA FRN EUR 16/04/2040 44,300,000 46,149,148 1.30AXA SA FRN EUR 04/07/2043 5,400,000 5,486,812 0.15Banco Bilbao Vizcaya Argentaria SA 2.5% EUR 07/10/2013 16,450,000 16,478,503 0.46Banco Bilbao Vizcaya Argentaria SA 3.5% EUR 05/12/2017 20,000,000 20,911,132 0.59Banco Popular Espanol SA 3.5% EUR 13/09/2013 15,000,000 15,082,999 0.42Banco Santander SA 3.875% EUR 27/05/2014 24,000,000 24,624,871 0.69Bank of America Corp 2.5% EUR 27/07/2020 21,000,000 20,805,689 0.58Bank of America Corp 4% EUR 23/03/2015 5,300,000 5,558,176 0.16Bank of America Corp 4.625% EUR 07/08/2017 12,000,000 13,285,598 0.37Bank of Scotland Plc FRN EUR 07/02/2035 14,324,000 14,094,816 0.40Barclays Bank Plc FRN EUR 22/03/2021 18,070,000 14,673,633 0.41Barclays Bank Plc FRN EUR Perpetual 66,360,000 50,842,378 1.43Barclays Bank Plc 6.625% EUR 30/03/2022 18,000,000 20,240,564 0.57BASF SE 2% EUR 05/12/2022 7,000,000 6,809,493 0.19BBVA Senior Finance SAU 3.25% EUR 23/04/2015 32,000,000 32,671,331 0.92BG Energy Capital Plc FRN EUR 30/11/2072 2,000,000 2,213,333 0.06BMW Finance NV 2.375% EUR 24/01/2023 13,000,000 12,954,657 0.36BNP Paribas Home Loan SFH 3.125% EUR 22/03/2022 8,000,000 8,595,620 0.24BNP Paribas SA 2.875% EUR 24/10/2022 17,000,000 16,976,696 0.48BNP Paribas SA 7.781% FRN EUR Perpetual 27,000,000 29,531,587 0.83BNP Paribas SA 8.667% FRN EUR Perpetual 24,000,000 24,033,851 0.68Bouygues SA 4.5% EUR 09/02/2022 14,000,000 15,614,316 0.44BPCE SA 4.625% EUR 18/07/2023 13,000,000 12,932,664 0.36Bundesrepublik Deutschland 2.5% EUR 04/07/2044 120,000,000 116,397,462 3.27Caisse de Refinancement de l'Habitat SA 2.4% EUR 17/01/2025 7,000,000 6,824,498 0.19Citigroup Inc FRN EUR 05/03/2014 40,000,000 40,195,936 1.13Cloverie Plc for Swiss Reinsurance Co Ltd FRN EUR 01/09/2042 4,250,000 4,984,000 0.14CNP Assurances FRN EUR 14/09/2040 34,650,000 36,540,850 1.03Coca-Cola Enterprises Inc 2.375% EUR 07/05/2025 8,000,000 7,498,308 0.21Commerzbank AG 7.75% EUR 16/03/2021 20,000,000 21,141,732 0.59Co-Operative Bank Plc 2.375% EUR 23/10/2015 38,000,000 35,688,072 1.00Coventry Building Society 2.25% EUR 04/12/2017 3,000,000 3,026,390 0.09Credit Agricole Home Loan SFH 2.125% EUR 10/07/2017 8,000,000 8,296,635 0.23Credit Agricole SA FRN EUR Perpetual 5,700,000 6,237,339 0.18Daimler AG 2.375% EUR 12/09/2022 10,000,000 9,910,888 0.28Danone SA 1.25% EUR 06/06/2018 10,000,000 9,934,981 0.28Deutsche Bank AG FRN EUR 07/10/2013 6,000,000 6,005,230 0.17Deutsche Telekom International Finance BV 4.5% EUR 28/10/2030 6,500,000 7,188,039 0.20Dresdner Bank AG FRN EUR 26/02/2021 5,000,000 3,427,840 0.10Eandis CVBA 2.75% EUR 30/11/2022 5,000,000 5,012,984 0.14

Invesco Euro Corporate Bond Fund


74 Invesco Funds


BONDS (continued)Electricite de France SA 2.75% EUR 10/03/2023 5,000,000 5,011,390 0.14Electricite de France SA 4.5% EUR 12/11/2040 20,250,000 22,316,632 0.63Electricite de France SA 4.25% FRN EUR Perpetual 6,300,000 6,389,696 0.18Electricite de France SA 5.375% FRN EUR Perpetual 12,400,000 12,727,283 0.36Elia System Operator SA/NV 3.25% EUR 04/04/2028 4,000,000 3,960,416 0.11EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 21,500,000 23,634,090 0.66Enel Finance International NV 4.125% EUR 12/07/2017 8,000,000 8,470,026 0.24Enel Finance International NV 4.625% EUR 24/06/2015 2,500,000 2,640,704 0.07Enel Finance International NV 5% EUR 12/07/2021 12,000,000 12,854,554 0.36Enel Finance International NV 144A 5.75% EUR 24/10/2018 10,000,000 11,295,207 0.32Enexis Holding NV 1.875% EUR 13/11/2020 9,000,000 8,853,047 0.25Enexis Holding NV 3.375% EUR 26/01/2022 4,000,000 4,245,546 0.12ESB Finance Ltd 4.375% EUR 21/11/2019 8,800,000 9,566,226 0.27Everything Everywhere Finance Plc 3.25% EUR 03/08/2018 10,000,000 10,315,443 0.29Everything Everywhere Finance Plc 3.5% EUR 06/02/2017 10,000,000 10,444,237 0.29EWE AG 4.125% EUR 04/11/2020 5,000,000 5,515,702 0.16Export-Import Bank of Korea 2% EUR 30/04/2020 20,000,000 19,189,026 0.54FCE Bank Plc 2.875% EUR 03/10/2017 12,500,000 13,015,664 0.37Fiat Finance & Trade SA 6.75% EUR 14/10/2019 12,200,000 12,620,957 0.35Finmeccanica Finance SA 4.375% EUR 05/12/2017 5,000,000 5,130,456 0.14Gas Natural Capital Markets SA 4.125% EUR 24/04/2017 4,000,000 4,263,631 0.12Gas Natural Capital Markets SA 4.5% EUR 27/01/2020 9,000,000 9,536,319 0.27Gas Natural Capital Markets SA 5.125% EUR 02/11/2021 17,000,000 18,484,544 0.52Gas Natural Fenosa Finance BV 3.875% EUR 11/04/2022 20,000,000 19,807,203 0.56GDF Suez 2.625% EUR 20/07/2022 5,000,000 5,080,019 0.14GDF Suez FRN EUR Perpetual 20,000,000 20,520,400 0.58GDF Suez 5.95% EUR 16/03/2111 5,000,000 5,954,000 0.17GE Capital European Funding FRN EUR 03/05/2016 15,200,000 15,203,997 0.43General Electric Capital Corp 4.125% EUR 19/09/2035 6,520,000 6,490,891 0.18General Electric Capital Corp FRN EUR 15/09/2066 4,000,000 4,021,495 0.11General Electric Capital Corp FRN EUR 15/09/2067 26,000,000 26,771,290 0.75Gestamp Funding Luxembourg SA 5.875% EUR 31/05/2020 7,400,000 7,307,500 0.21Goldman Sachs Group Inc FRN EUR 15/11/2014 27,000,000 27,030,993 0.76Goldman Sachs Group Inc 3.25% EUR 01/02/2023 5,000,000 5,020,872 0.14Great-West Lifeco Inc 2.5% EUR 18/04/2023 8,000,000 7,724,662 0.22Groupama SA FRN EUR Perpetual 6,000,000 4,545,720 0.13Groupama SA FRN EUR 27/10/2039 16,000,000 15,400,000 0.43Gtech Spa 3.5% EUR 05/03/2020 13,000,000 13,386,292 0.38Gtech Spa 5.375% EUR 05/12/2016 4,500,000 5,011,236 0.14Hannover Finance Luxembourg SA FRN EUR 30/06/2043 30,000,000 31,071,998 0.87Heineken NV 2.875% EUR 04/08/2025 7,000,000 6,837,421 0.19Hera SpA 5.2% EUR 29/01/2028 5,000,000 5,397,952 0.15HIT Finance BV 5.75% EUR 09/03/2018 7,000,000 7,969,927 0.22HSBC Capital Funding LP FRN EUR Perpetual 96,589,000 97,134,013 2.73HSBC SFH France SA 2% EUR 16/10/2023 20,000,000 19,308,466 0.54HSE Netz AG 6.125% EUR 23/04/2041 14,900,000 18,990,795 0.53Iberdrola International BV 2.875% EUR 11/11/2020 24,500,000 23,977,538 0.67Iberdrola International BV FRN EUR Perpetual 9,000,000 8,979,426 0.25Imperial Tobacco Finance Plc 4.375% EUR 22/11/2013 14,550,000 14,670,728 0.41International Business Machines Corp 1.375% EUR 19/11/2019 10,000,000 9,723,758 0.27Intesa Sanpaolo SpA 3.5% EUR 27/11/2013 20,000,000 20,130,780 0.57Intesa Sanpaolo SpA FRN EUR Perpetual 15,000,000 15,622,322 0.44Investor AB 4.5% EUR 12/05/2023 5,000,000 5,751,867 0.16IPIC GMTN Ltd 2.375% EUR 30/05/2018 22,000,000 22,226,966 0.62Iron Mountain Inc 6.75% EUR 15/10/2018 9,875,000 10,028,454 0.28JPMorgan Chase & Co 0% EUR 31/01/2014 2,800,000 2,795,244 0.08JPMorgan Chase & Co FRN EUR 30/01/2014 40,000,000 40,023,798 1.12JPMorgan Chase & Co FRN EUR 12/10/2015 5,000,000 4,902,689 0.14JPMorgan Chase & Co 2.75% EUR 24/08/2022 30,000,000 30,254,186 0.85Koninklijke KPN NV FRN EUR Perpetual 16,400,000 16,993,680 0.48LBG Capital No.1 Plc 6.439% EUR 23/05/2020 65,777,000 67,914,753 1.91LBG Capital No.1 Plc 7.375% EUR 12/03/2020 9,240,000 9,616,530 0.27LBG Capital No.2 Plc 6.385% EUR 12/05/2020 14,000,000 14,420,000 0.41Lloyds TSB Bank Plc 6.5% EUR 24/03/2020 18,000,000 20,177,330 0.57LVMH Moet Hennessy Louis Vuitton SA 1.25% EUR 04/11/2019 4,000,000 3,916,155 0.11Mapfre SA 5.125% EUR 16/11/2015 6,500,000 6,862,421 0.19Marks & Spencer Plc 7.125% USD 01/12/2037 12,120,000 9,192,438 0.26



75 Invesco Funds


BONDS (continued)McDonald's Corp 2% EUR 01/06/2023 12,000,000 11,425,048 0.32Merrill Lynch & Co Inc FRN EUR 31/01/2014 18,000,000 18,012,065 0.51Merrill Lynch & Co Inc FRN EUR 14/09/2018 5,000,000 4,609,830 0.13Metropolitan Life Global Funding I 2.375% EUR 30/09/2019 11,250,000 11,489,131 0.32Metropolitan Life Global Funding I 2.375% EUR 11/01/2023 42,000,000 40,590,583 1.14Microsoft Corp 2.625% EUR 02/05/2033 50,400,000 46,224,158 1.30Morgan Stanley 2.25% EUR 12/03/2018 15,000,000 15,121,957 0.43Morgan Stanley 3.75% EUR 21/09/2017 4,000,000 4,280,287 0.12Morgan Stanley FRN EUR 23/09/2019 10,000,000 10,557,500 0.30Morgan Stanley 4.5% EUR 23/02/2016 10,000,000 10,721,482 0.30Muenchener Rueckversicherungs AG FRN EUR 26/05/2042 15,000,000 17,226,812 0.48National Capital Instruments Euro LLC 2 FRN EUR Perpetual 16,300,000 14,594,339 0.41National Westminster Bank Plc FRN EUR Perpetual 10,750,000 7,793,750 0.22Nationwide Building Society FRN EUR 20/03/2023 8,900,000 8,658,505 0.24Nederlandse Waterschapsbank NV FRN EUR 15/08/2035 9,703,000 10,345,824 0.29Nestle Finance International Ltd 1.75% EUR 12/09/2022 22,000,000 21,287,434 0.60Nexans SA 4.25% EUR 19/03/2018 8,000,000 8,010,963 0.23NGG Finance Plc FRN EUR 18/06/2076 22,750,000 22,606,675 0.64Nomura Bank International Plc FRN EUR 16/02/2017 10,000,000 10,127,653 0.28Nomura Bank International Plc FRN EUR 30/09/2019 6,000,000 6,507,860 0.18Novalis SAS 6% EUR 15/06/2018 8,000,000 8,240,000 0.23Obrascon Huarte Lain SA 8.75% EUR 15/03/2018 3,000,000 3,280,560 0.09OMV AG 2.625% EUR 27/09/2022 10,000,000 10,096,522 0.28OMV AG FRN EUR Perpetual 8,750,000 9,665,337 0.27Oracle Corp 3.125% EUR 10/07/2025 9,500,000 9,657,015 0.27Origin Energy Finance Ltd FRN EUR 16/06/2071 18,000,000 18,587,104 0.52Philip Morris International Inc 3.125% EUR 03/06/2033 25,000,000 23,776,805 0.67Picard Groupe SAS FRN EUR 01/08/2019 8,800,000 8,971,336 0.25Prosegur Cia de Seguridad SA 2.75% EUR 02/04/2018 5,000,000 4,948,686 0.14Rolls-Royce Plc 2.125% EUR 18/06/2021 8,000,000 7,948,350 0.22Royal Bank of Scotland Plc FRN EUR 16/03/2022 861,000 1,015,173 0.03Royal Bank of Scotland Plc FRN EUR 14/06/2022 73,000,000 56,710,780 1.59Royal Bank of Scotland Plc FRN EUR 23/04/2023 1,250,000 1,240,625 0.04RWE AG FRN EUR Perpetual 74,666,000 75,352,181 2.12Santander International Debt SAU 3.5% EUR 12/08/2014 30,000,000 30,580,047 0.86Santos Finance Ltd FRN EUR 22/09/2070 13,000,000 14,170,000 0.40Schaeffler Finance BV 4.25% EUR 15/05/2018 4,950,000 4,977,225 0.14SG Capital Trust III FRN EUR Perpetual 6,000,000 6,021,211 0.17Siemens Financieringsmaatschappij NV 1.5% EUR 10/03/2020 21,000,000 20,535,356 0.58Siemens Financieringsmaatschappij NV 2.875% EUR 10/03/2028 22,000,000 21,687,049 0.61Snam SpA 2% EUR 13/11/2015 25,000,000 25,385,121 0.71Snam SpA 3.875% EUR 19/03/2018 10,000,000 10,626,854 0.30Societe Generale SA FRN EUR Perpetual 9,000,000 10,227,375 0.29Softbank Corp 4.625% EUR 15/04/2020 11,650,000 11,824,750 0.33SSE Plc FRN EUR Perpetual 13,000,000 13,787,638 0.39SSE Plc 5.025% FRN EUR Perpetual 28,900,000 30,146,674 0.85Standard Chartered Plc 1.75% EUR 29/10/2017 15,000,000 15,050,065 0.42Suez Environnement Co 4.078% EUR 17/05/2021 5,000,000 5,595,340 0.16Suez Environnement Co FRN EUR Perpetual 24,200,000 25,005,134 0.70Svenska Cellulosa AB 2.5% EUR 09/06/2023 3,000,000 2,920,322 0.08TDC A/S 3.75% EUR 02/03/2022 5,000,000 5,338,767 0.15Telecom Italia Finance SA 7.75% EUR 24/01/2033 2,000,000 2,098,403 0.06Telecom Italia SpA 4.5% EUR 20/09/2017 2,500,000 2,512,111 0.07Telecom Italia SpA 5.25% EUR 10/02/2022 10,000,000 9,821,444 0.28Telecom Italia SpA 5.25% EUR 17/03/2055 40,000,000 30,936,292 0.87Telecom Italia SpA FRN EUR 20/03/2073 2,000,000 1,970,500 0.06Telefonica Emisiones SAU 3.661% EUR 18/09/2017 15,000,000 15,599,669 0.44Telefonica Emisiones SAU 3.987% EUR 23/01/2023 5,400,000 5,249,112 0.15Telefonica Emisiones SAU 4.375% EUR 02/02/2016 5,000,000 5,287,323 0.15Telefonica Emisiones SAU 4.674% EUR 07/02/2014 11,600,000 11,786,898 0.33Telefonica Emisiones SAU 4.693% EUR 11/11/2019 10,850,000 11,582,853 0.33Telefonica Emisiones SAU 5.431% EUR 03/02/2014 12,000,000 12,225,683 0.34Telefonica SA FRN EUR 02/03/2015 3,000,000 2,966,116 0.08TeliaSonera AB 3.625% EUR 14/02/2024 15,000,000 16,181,239 0.45Teva Pharmaceutical Finance IV BV 2.875% EUR 15/04/2019 8,000,000 8,323,991 0.23Total Capital International SA 2.125% EUR 15/03/2023 32,100,000 31,303,925 0.88



76 Invesco Funds


BONDS (continued)Toyota Motor Credit Corp 1.8% EUR 23/07/2020 9,260,000 9,161,721 0.26UBS AG 4.28% FRN EUR Perpetual 71,275,000 71,650,619 2.01UBS AG 7.152% FRN EUR Perpetual 13,000,000 14,348,750 0.40Unibail-Rodamco SE 2.25% EUR 01/08/2018 3,500,000 3,559,642 0.10UniCredit SpA 6.125% EUR 19/04/2021 27,900,000 28,662,017 0.81UniCredit SpA 6.95% EUR 31/10/2022 22,000,000 22,718,860 0.64Vier Gas Transport GmbH 2% EUR 12/06/2020 7,000,000 6,950,358 0.20Vier Gas Transport GmbH 2.875% EUR 12/06/2025 13,500,000 13,334,481 0.37Vivendi SA 4.125% EUR 18/07/2017 8,000,000 8,686,844 0.24Vivendi SA 4.75% EUR 13/07/2021 4,000,000 4,478,001 0.13Volkswagen Bank GmbH 3.125% EUR 11/04/2014 8,477,000 8,617,207 0.24Volkswagen Leasing GmbH 2.375% EUR 06/09/2022 10,000,000 9,874,709 0.28Wal-Mart Stores Inc 4.875% EUR 21/09/2029 20,000,000 24,207,608 0.68Ziggo BV 3.625% EUR 27/03/2020 12,000,000 11,883,900 0.33

TOTAL BONDS 3,203,216,804 90.01

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCKEXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET 3,204,006,652 90.03

OTHER TRANSFERABLE SECURITIESBONDSIm Bes Empresas 0.42% EUR 20/11/2043 6,351,838 6,175,175 0.17Santander International Debt SAU 1.152% EUR 17/10/2014 75,000,000 75,050,621 2.11

TOTAL BONDS 81,225,796 2.28






77 Invesco Funds

Investment Nominal/Shares Market Value Net AssetsGBP %


BONDSBankia SA 4.875% EUR 31/03/2014 400,000 348,972 0.64Belden Inc 5.5% EUR 15/04/2023 200,000 164,648 0.30BG Energy Capital Plc 5% GBP 04/11/2036 300,000 318,300 0.59British Telecommunications Plc 8.5% GBP 07/12/2016 350,000 421,918 0.78CaixaBank 3.125% EUR 16/09/2013 400,000 341,959 0.63Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 3.875% EUR 25/07/2023 1,000,000 830,367 1.53Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 500,000 477,397 0.88Delta Lloyd Levensverzekering NV FRN EUR 29/08/2042 500,000 481,638 0.89Digital Stout Holding LLC 4.25% GBP 17/01/2025 200,000 189,857 0.35Direct Line Insurance Group Plc FRN GBP 27/04/2042 300,000 358,130 0.66DONG Energy A/S 4.875% GBP 12/01/2032 650,000 662,830 1.22Electricite de France SA FRN GBP Perpetual 700,000 703,300 1.30EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 180,000 168,987 0.31European Investment Bank 6% GBP 07/12/2028 750,000 949,669 1.75Everything Everywhere Finance Plc 4.375% GBP 28/03/2019 800,000 815,494 1.50GE Capital UK Funding 4.375% GBP 31/07/2019 600,000 645,567 1.19General Electric Capital Corp FRN USD 15/11/2067 1,000,000 684,588 1.26Gold Fields Orogen Holding BVI Ltd 4.875% USD 07/10/2020 600,000 308,367 0.57Heathrow Funding Ltd 3% GBP 08/06/2015 600,000 617,939 1.14Heathrow Funding Ltd 6.25% GBP 10/09/2018 490,000 558,372 1.03Heathrow Funding Ltd 7.125% GBP 14/02/2024 400,000 475,111 0.88HSBC Capital Funding LP FRN GBP Perpetual 655,000 709,455 1.31HSBC Finance Corp 6.25% GBP 19/08/2019 500,000 580,672 1.07Infinis Plc 7% GBP 15/02/2019 150,000 156,000 0.29ING Bank NV FRN EUR 29/05/2023 500,000 472,133 0.87IPIC GMTN Ltd 6.875% GBP 14/03/2026 470,000 573,009 1.06Kelda Finance No 3 Plc 5.75% GBP 17/02/2020 175,000 177,625 0.33Lloyds TSB Bank Plc FRN GBP 29/05/2020 750,000 780,212 1.44Lowell Group Financing Plc 10.75% GBP 01/04/2019 250,000 281,733 0.52Manutencoop Facility Management SpA 8.5% EUR 01/08/2020 200,000 161,414 0.30Morgan Stanley 5.75% GBP 14/02/2017 400,000 443,655 0.82Nationwide Building Society FRN EUR 20/03/2023 350,000 290,805 0.54NGG Finance Plc FRN GBP 18/06/2073 500,000 496,238 0.92Old Mutual Plc 8% GBP 03/06/2021 500,000 509,481 0.94Optus Finance Pty Ltd 4.625% USD 15/10/2019 400,000 275,507 0.51Pacific Life Funding LLC 5.125% GBP 20/01/2015 270,000 283,171 0.52Portugal Telecom International Finance BV 4.625% EUR 08/05/2020 600,000 480,870 0.89QBE Insurance Group Ltd 6.125% GBP 28/09/2015 500,000 542,761 1.00Rexel SA 5.125% EUR 15/06/2020 300,000 261,337 0.48RWE AG FRN GBP Perpetual 500,000 521,350 0.96RWE AG FRN USD 12/10/2072 770,000 526,577 0.97Scottish Widows Plc 5.5% GBP 16/06/2023 300,000 290,226 0.54Societe Generale SA FRN USD Perpetual 600,000 388,823 0.72SSE Plc FRN GBP Perpetual 300,000 312,255 0.58Standard Chartered Bank FRN GBP Perpetual 500,000 540,513 1.00Standard Chartered Bank FRN USD Perpetual 1,000,000 693,477 1.28Suncorp-Metway Ltd 5.125% GBP 27/10/2014 500,000 519,952 0.96Time Warner Cable Inc 5.75% GBP 02/06/2031 400,000 371,512 0.69UBS AG FRN USD 22/05/2023 800,000 495,986 0.92United Kingdom Gilt 1.25% GBP 22/07/2018 7,000,000 6,901,545 12.74United Kingdom Gilt 1.75% GBP 22/01/2017 2,000,000 2,052,710 3.79United Kingdom Gilt 1.75% GBP 07/09/2022 1,000,000 932,715 1.72United Kingdom Gilt 4% GBP 22/01/2060 800,000 887,860 1.64United Kingdom Gilt 4.25% GBP 07/06/2032 4,000,000 4,498,040 8.30United Kingdom Gilt 4.25% GBP 07/12/2040 1,500,000 1,695,000 3.13United Kingdom Gilt 4.5% GBP 07/09/2034 1,000,000 1,161,940 2.14

Invesco UK Investment Grade Bond Fund


78 Invesco Funds


BONDS (continued)United Kingdom Gilt 4.5% GBP 07/12/2042 3,000,000 3,545,310 6.54United Kingdom Gilt 4.75% GBP 07/12/2030 2,600,000 3,098,160 5.72United Kingdom Gilt 4.75% GBP 07/12/2038 3,300,000 4,019,664 7.42William Hill Plc 4.25% GBP 05/06/2020 400,000 382,820 0.71

TOTAL BONDS 51,835,923 95.68

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCKEXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET 51,835,923 95.68

OPEN-ENDED FUNDSShort-Term Investments Co Global Series - Sterling Liquidity Portfolio 1,451,743 1,451,743 2.68




Invesco UK Investment Grade Bond Fund


79 Invesco Funds



BONDSAHML Finance Ltd 7.75% RUB 13/02/2018 380,000,000 11,119,188 1.20Banco Santander Brasil SA 8% BRL 18/03/2016 10,000,000 3,834,598 0.41Barclays Bank Plc 9.5% IDR 17/07/2031 90,000,000,000 8,646,716 0.93Barclays Bank Plc 10% IDR 17/02/2028 80,000,000,000 7,938,747 0.86Barclays Bank Plc 10.25% IDR 19/07/2027 30,000,000,000 3,050,673 0.33Brazil Notas do Tesouro Nacional Serie F 10% BRL 01/01/2017 52,500,000 21,663,732 2.33Brazil Notas do Tesouro Nacional Serie F 10% BRL 01/01/2021 6,834,000 2,698,570 0.29Brazilian Government International Bond 8.5% BRL 05/01/2024 46,650,000 17,498,878 1.89Brazilian Government International Bond 12.5% BRL 05/01/2016 16,500,000 7,448,157 0.80Brazilian Government International Bond 12.5% BRL 05/01/2022 25,000,000 12,000,338 1.29Citigroup Inc 0% NGN 23/12/2013 856,000,000 5,042,827 0.54Colombia Government International Bond 4.375% COP 21/03/2023 20,594,000,000 9,811,282 1.06Colombia Government International Bond 7.75% COP 14/04/2021 16,933,000,000 9,860,835 1.06Cosan Luxembourg SA 9.5% BRL 14/03/2018 11,000,000 4,172,833 0.45Empresa de Telecomunicaciones de Bogota 7% COP 17/01/2023 4,398,000,000 1,959,313 0.21European Bank for Reconstruction & Development 9.5% BRL 06/11/2013 19,900,000 8,424,838 0.91Export-Import Bank of Korea 4% PHP 26/11/2015 159,100,000 3,617,950 0.39Export-Import Bank of Korea 8.3% IDR 15/03/2014 21,300,000,000 1,988,857 0.21Export-Import Bank of Korea 8.4% IDR 06/07/2016 32,300,000,000 2,789,209 0.30Federal Grid Co OJS via Federal Grid Finance Ltd 8.446% RUB 13/03/2019 208,800,000 6,216,505 0.67Hungary Government Bond 6.75% HUF 24/02/2017 4,090,700,000 18,797,581 2.03Hungary Government Bond 7.5% HUF 12/11/2020 2,820,000,000 13,366,429 1.44Hungary Government Bond 7.75% HUF 24/08/2015 2,587,400,000 12,045,808 1.30JPMorgan Chase Bank 7% IDR 18/05/2027 111,500,000,000 8,730,286 0.94JPMorgan Chase Bank 8.25% IDR 17/06/2032 47,000,000,000 4,077,486 0.44JPMorgan Chase Indonesian Government Linked Notes 8.375% IDR 17/09/2026 70,000,000,000 6,145,604 0.66Malaysia Government Bond 3.835% MYR 12/08/2015 48,100,000 14,810,544 1.60Malaysia Government Bond 4.16% MYR 15/07/2021 28,910,000 8,866,905 0.96Malaysia Government Bond 4.378% MYR 29/11/2019 7,930,000 2,479,557 0.27Mexican Bonos 6.5% MXN 09/06/2022 273,460,000 20,832,359 2.25Mexican Bonos 7.5% MXN 03/06/2027 221,300,000 17,860,906 1.92Mexican Bonos 8% MXN 11/06/2020 323,000,000 27,008,334 2.91Mexican Bonos 8.5% MXN 13/12/2018 207,000,000 17,630,819 1.90Mexican Bonos 10% MXN 05/12/2024 227,100,000 22,015,965 2.37Morgan Stanley 144A 11.5% BRL 22/10/2020 10,000,000 4,090,182 0.44Nigeria Government Bond 7% NGN 23/10/2019 1,000,000,000 4,511,590 0.49Nigeria Government Bond 15.1% NGN 27/04/2017 1,280,000,000 8,205,280 0.88Nigeria Government Bond 16.39% NGN 27/01/2022 650,000,000 4,548,132 0.49Peru Government Bond 7.84% PEN 12/08/2020 37,500,000 15,049,219 1.62Peru Government Bond 8.2% PEN 12/08/2026 24,968,000 10,724,824 1.16Peru Government Bond 8.6% PEN 12/08/2017 20,000,000 8,077,695 0.87Philippine Government International Bond 3.9% PHP 26/11/2022 105,000,000 2,318,947 0.25Philippine Government International Bond 4.95% PHP 15/01/2021 25,000,000 591,532 0.06Philippine Government International Bond 6.25% PHP 14/01/2036 122,000,000 2,966,405 0.32Poland Government Bond 5.25% PLN 25/10/2017 28,592,000 9,414,835 1.01Poland Government Bond 5.25% PLN 25/10/2020 34,800,000 11,499,863 1.24Poland Government Bond 5.5% PLN 25/04/2015 21,200,000 6,837,556 0.74Poland Government Bond 5.5% PLN 25/10/2019 65,625,000 21,981,399 2.37Poland Government Bond 5.75% PLN 25/10/2021 108,535,000 36,873,630 3.97Poland Government Bond 6.25% PLN 24/10/2015 45,210,000 14,930,584 1.61Romania Government Bond 5.75% RON 27/01/2016 39,900,000 12,253,602 1.32Romania Government Bond 5.85% RON 26/04/2023 18,760,000 5,852,993 0.63RusHydro JSC via RusHydro Finance Ltd 7.875% RUB 28/10/2015 453,100,000 13,506,041 1.46Russian Federal Bond - OFZ 6.8% RUB 11/12/2019 50,000,000 1,482,554 0.16Russian Federal Bond - OFZ 7.4% RUB 14/06/2017 426,257,000 13,110,175 1.41Russian Federal Bond - OFZ 7.6% RUB 14/04/2021 973,500,000 29,926,815 3.23Russian Federal Bond - OFZ 8.15% RUB 03/02/2027 483,200,000 14,879,711 1.60Russian Railways via RZD Capital Plc 8.3% RUB 02/04/2019 444,000,000 13,477,684 1.45Sinochem Offshore Capital Co Ltd 1.8% CNY 18/01/2014 12,000,000 1,946,818 0.21South Africa Government Bond 6.25% ZAR 31/03/2036 85,030,000 5,965,311 0.64South Africa Government Bond 6.75% ZAR 31/03/2021 140,000,000 12,633,348 1.36

Invesco Emerging Local Currencies Debt Fund


80 Invesco Funds


BONDS (continued)South Africa Government Bond 7.75% ZAR 28/02/2023 279,970,000 26,388,855 2.84South Africa Government Bond 8.25% ZAR 15/09/2017 48,200,000 4,822,059 0.52South Africa Government Bond 10.5% ZAR 21/12/2026 263,420,000 29,831,521 3.22Thailand Government Bond 1.25% THB 12/03/2028 333,300,000 9,116,255 0.98Thailand Government Bond 2.8% THB 10/10/2017 300,000,000 9,043,655 0.97Thailand Government Bond 3.65% THB 17/12/2021 1,253,765,000 37,562,537 4.05Thailand Government Bond 3.875% THB 13/06/2019 175,000,000 5,443,918 0.59Thailand Government Bond 4.125% THB 18/11/2016 90,000,000 2,861,801 0.31Turkey Government Bond 3% TRY 23/02/2022 20,430,000 10,661,797 1.15Turkey Government Bond 4% TRY 01/04/2020 38,300,000 24,575,491 2.65Turkey Government Bond 7.1% TRY 08/03/2023 6,637,000 2,864,627 0.31Turkey Government Bond 9.5% TRY 12/01/2022 26,100,000 12,509,700 1.35Turkey Government Bond 10.5% TRY 15/01/2020 29,616,000 14,988,375 1.62Turkey Government Bond 11% TRY 06/08/2014 28,640,000 14,265,871 1.54

TOTAL BONDS 837,045,816 90.21


OTHER TRANSFERABLE SECURITIESBONDSCitigroup Funding Inc 6.25% IDR 17/04/2017 54,300,000,000 4,708,533 0.51Malaysia Government Bond 3.26% MYR 01/03/2018 48,000,000 14,358,699 1.55Malaysia Government Bond 3.314% MYR 31/10/2017 41,200,000 12,382,930 1.34Malaysia Government Bond 3.418% MYR 15/08/2022 41,650,000 12,054,355 1.30Malaysia Government Bond 3.58% MYR 28/09/2018 49,640,000 14,980,098 1.61Malaysia Government Bond 4.24% MYR 07/02/2018 20,100,000 6,239,387 0.67Malaysia Government Bond 4.392% MYR 15/04/2026 21,492,000 6,611,568 0.71Nigeria Government Bond 10.7% NGN 30/05/2018 700,000,000 3,890,402 0.42Nigeria Treasury Bill 0% NGN 09/01/2014 735,500,000 4,303,127 0.46

TOTAL BONDS 79,529,099 8.57




Invesco Emerging Local Currencies Debt Fund


81 Invesco Funds



EQUITIESReinsurance Group of America Inc (Preferred) 10,000 240,400 0.51Wells Fargo & Co (Preferred) 36,000 873,360 1.87


BONDSABN AMRO Bank NV FRN USD 13/09/2022 1,000,000 1,070,118 2.29Achmea BV 6% EUR Perpetual 400,000 533,792 1.14Advance Auto Parts Inc 5.75% USD 01/05/2020 500,000 525,962 1.13Agence Francaise de Developpement FRN EUR Perpetual 900,000 1,182,043 2.53American Tower Corp 3.5% USD 31/01/2023 200,000 180,252 0.39Aviva Plc FRN EUR 02/10/2023 1,000,000 1,328,572 2.84Bank of China Hong Kong Ltd 5.55% USD 11/02/2020 1,000,000 1,070,402 2.29Bank of New York Mellon Corp FRN USD Perpetual 300,000 269,250 0.58Bankia SA 4.875% EUR 31/03/2014 100,000 135,244 0.29Barrick Gold Corp 5.25% USD 01/04/2042 500,000 408,875 0.88BG Energy Capital Plc FRN GBP 30/11/2072 500,000 838,290 1.79BG Energy Capital Plc FRN USD 30/11/2072 1,100,000 1,170,244 2.50BNP Paribas Fortis SA FRN EUR Perpetual 1,000,000 1,314,224 2.81Centrais Eletricas Brasileiras SA 5.75% USD 27/10/2021 600,000 561,000 1.20Cooperatieve Centrale Raiffeisen-Boerenleenbank BA FRN USD Perpetual 1,250,000 1,329,493 2.85Cooperatieve Centrale Raiffeisen-Boerenleenbank BA FRN USD Perpetual 1,600,000 1,726,733 3.70Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 100,000 148,012 0.32Delta Lloyd Levensverzekering NV FRN EUR 29/08/2042 250,000 373,318 0.80Direct Line Insurance Group Plc FRN GBP 27/04/2042 100,000 185,058 0.40Electricite de France SA FRN GBP Perpetual 300,000 467,252 1.00Electricite de France SA 5.375% FRN EUR Perpetual 500,000 679,441 1.45Empresa Nacional del Petroleo 5.25% USD 10/08/2020 500,000 500,400 1.07EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 1,000,000 1,455,353 3.12General Electric Capital Corp FRN USD 15/11/2067 1,500,000 1,591,875 3.41Gold Fields Orogen Holding BVI Ltd 4.875% USD 07/10/2020 500,000 398,359 0.85HSBC Bank Brasil SA - Banco Multiplo 4% USD 11/05/2016 700,000 721,013 1.54HSBC Capital Funding LP FRN EUR Perpetual 100,000 136,634 0.29HSBC Capital Funding LP FRN EUR Perpetual 1,250,000 1,664,262 3.56HSBC Capital Funding LP FRN GBP Perpetual 400,000 671,632 1.44Hutchison Whampoa Europe Finance 13 Ltd FRN EUR Perpetual 500,000 620,095 1.33Hutchison Whampoa International 12 Ltd FRN USD Perpetual 1,400,000 1,473,500 3.15ING Bank NV FRN EUR 15/03/2019 750,000 993,891 2.13ING Bank NV FRN EUR 29/05/2023 450,000 658,711 1.41ING Bank NV FRN GBP 30/05/2023 50,000 85,575 0.18JPMorgan Chase & Co FRN USD Perpetual 50,000 55,179 0.12MDC Holdings Inc 6% USD 15/01/2043 250,000 218,184 0.47NGG Finance Plc FRN GBP 18/06/2073 350,000 538,487 1.15Noble Group Ltd 6.75% USD 29/01/2020 1,000,000 1,005,000 2.15Nordea Bank AB FRN EUR 10/09/2018 150,000 198,798 0.43Nordea Bank AB FRN USD Perpetual 650,000 698,890 1.50OMV AG FRN EUR Perpetual 1,100,000 1,608,680 3.44Petrobras Argentina SA 5.875% USD 15/05/2017 1,000,000 1,040,000 2.23Rabobank Capital Funding Trust IV FRN GBP Perpetual 100,000 154,875 0.33Reliance Holdings USA Inc 5.4% USD 14/02/2022 250,000 244,242 0.52Russian Agricultural Bank OJSC Via RSHB Capital SA 5.298% USD 27/12/2017 500,000 507,410 1.09RWE AG FRN EUR Perpetual 750,000 1,002,079 2.14RWE AG FRN GBP Perpetual 100,000 161,639 0.35RWE AG FRN USD 12/10/2072 950,000 1,007,124 2.16Scottish Widows Plc 5.5% GBP 16/06/2023 350,000 524,894 1.12SSE Plc FRN EUR Perpetual 550,000 772,284 1.65Standard Chartered Bank FRN GBP Perpetual 1,000,000 1,675,805 3.59Standard Chartered Bank FRN USD Perpetual 1,200,000 1,290,033 2.76Suez Environnement Co FRN EUR Perpetual 700,000 957,590 2.05

Invesco Global Investment Grade Corporate Bond Fund


82 Invesco Funds


BONDS (continued)Turkiye Is Bankasi 3.875% USD 07/11/2017 1,350,000 1,248,403 2.67UBS AG FRN USD 22/02/2022 1,250,000 1,339,531 2.87UBS AG FRN USD 22/05/2023 500,000 480,549 1.03Veolia Environnement SA FRN EUR Perpetual 200,000 258,906 0.55Virgin Media Secured Finance Plc 5.5% GBP 15/01/2021 100,000 154,457 0.33

TOTAL BONDS 43,611,914 93.36




Invesco Global Investment Grade Corporate Bond Fund


83 Invesco Funds



BONDSBBVA International Preferred SAU FRN GBP Perpetual 250,000 253,517 6.30BNP Paribas SA 8.667% FRN EUR Perpetual 250,000 213,812 5.31Eksportfinans ASA 3% USD 17/11/2014 100,000 64,588 1.61Groupama SA FRN EUR 27/10/2039 50,000 41,101 1.02ING Groep NV 8% EUR Perpetual 200,000 177,641 4.42Intesa Sanpaolo SpA FRN EUR Perpetual 100,000 88,948 2.21KBC Bank NV 8% EUR Perpetual 100,000 88,394 2.20LBG Capital No.2 Plc 11.25% GBP 14/09/2023 50,000 58,115 1.44National Westminster Bank Plc 11.5% GBP Perpetual 100,000 128,875 3.20Pearl Group Holdings No 1 Ltd 6.586% GBP Perpetual 42,500 35,700 0.89Portugal Obrigacoes do Tesouro OT 144A 3.6% EUR 15/10/2014 200,000 170,703 4.24Portugal Obrigacoes do Tesouro OT 144A 5.65% EUR 15/02/2024 70,000 54,021 1.34Santander Finance Preferred SAU FRN GBP Perpetual 150,000 156,284 3.88Societe Generale SA FRN GBP Perpetual 85,000 90,554 2.25Spain Government Bond 4.75% EUR 30/07/2014 100,000 88,220 2.19United Kingdom Gilt Inflation Linked 0.125% GBP 22/03/2044 200,000 209,955 5.22United Kingdom Gilt Inflation Linked 0.75% GBP 22/03/2034 50,000 61,533 1.53United States Treasury Note/Bond 0.25% USD 30/09/2014 200,000 129,137 3.21United States Treasury Note/Bond 0.25% USD 31/01/2015 300,000 193,531 4.81United States Treasury Note/Bond 0.25% USD 28/02/2015 250,000 161,213 4.01United States Treasury Note/Bond 1.75% USD 15/05/2023 100,000 58,858 1.46United States Treasury Note/Bond 2.875% USD 15/05/2043 500,000 271,663 6.75

TOTAL BONDS 2,796,363 69.49


OTHER TRANSFERABLE SECURITIESOPTIONSJP Morgan Gbp Put/Usd Call Option Strike 1.5 20/02/2014 400,000 3,168 0.08

TOTAL OPTIONS 3,168 0.08




Invesco Global Unconstrained Bond Fund


84 Invesco Funds

Invesco Global Total Return (EUR) Bond Fund




BONDSAabar Investments PJSC 4% EUR 27/05/2016 1,000,000 1,103,000 0.74Abengoa SA 6.25% EUR 17/01/2019 5,800,000 4,947,400 3.33Achmea BV FRN EUR 04/04/2043 2,000,000 2,088,450 1.41Aquarius and Investments Plc for Zurich Insurance Co Ltd FRN EUR 02/10/2043 1,000,000 971,195 0.65Aviva Plc FRN EUR 05/07/2043 478,000 496,413 0.34AXA SA FRN EUR 16/04/2040 1,000,000 1,041,742 0.70Banco Bilbao Vizcaya Argentaria SA FRN USD Perpetual 2,200,000 1,638,633 1.10Barclays Bank Plc FRN EUR 22/03/2021 2,500,000 2,030,110 1.37Barclays Bank Plc FRN EUR Perpetual 3,320,000 2,543,651 1.71BNP Paribas SA 8.667% FRN EUR Perpetual 2,000,000 2,002,821 1.35Bundesobligation 0.5% EUR 13/10/2017 8,000,000 7,951,533 5.36Bundesobligation 0.5% EUR 23/02/2018 10,000,000 9,882,888 6.66Bundesrepublik Deutschland 1.5% EUR 04/09/2022 7,000,000 6,878,842 4.63Bundesrepublik Deutschland 1.75% EUR 04/07/2022 4,500,000 4,530,026 3.05Bundesrepublik Deutschland 2% EUR 04/01/2022 3,000,000 3,101,690 2.09Bundesrepublik Deutschland 2.25% EUR 04/09/2021 1,000,000 1,057,693 0.71Bundesrepublik Deutschland 2.5% EUR 04/07/2044 13,000,000 12,609,725 8.49Bundesschatzanweisungen 0% EUR 13/06/2014 1,000,000 999,086 0.67Commerzbank AG 7.75% EUR 16/03/2021 2,000,000 2,114,173 1.42Electricite de France SA FRN USD Perpetual 6,000,000 4,251,860 2.86GDF Suez FRN EUR Perpetual 2,000,000 2,052,040 1.38HSBC Capital Funding LP FRN EUR Perpetual 5,000,000 5,028,213 3.39Iberdrola International BV FRN EUR Perpetual 2,000,000 1,995,428 1.34Italy Buoni Poliennali Del Tesoro 2.25% EUR 01/11/2013 3,000,000 3,009,928 2.03KBC Bank NV 8% EUR Perpetual 500,000 517,500 0.35Koninklijke KPN NV FRN EUR Perpetual 2,800,000 2,901,360 1.96Koninklijke KPN NV FRN GBP 14/03/2073 1,000,000 1,191,391 0.80LBG Capital No.1 Plc 6.439% EUR 23/05/2020 3,000,000 3,097,500 2.09LBG Capital No.2 Plc 6.385% EUR 12/05/2020 3,000,000 3,090,000 2.08Marks & Spencer Plc 7.125% USD 01/12/2037 1,000,000 758,452 0.51Merrill Lynch & Co Inc FRN EUR 31/01/2014 1,000,000 1,000,670 0.67Microsoft Corp 2.625% EUR 02/05/2033 3,000,000 2,751,438 1.85NGG Finance Plc FRN EUR 18/06/2076 850,000 844,645 0.57Peabody Energy Corp 4.75% USD 15/12/2041 3,780,000 2,228,776 1.50Portugal Telecom International Finance BV 4.625% EUR 08/05/2020 3,500,000 3,284,463 2.21Royal Bank of Scotland Group Plc 5.25% EUR Perpetual 100,000 73,250 0.05Royal Bank of Scotland Plc FRN EUR 14/06/2022 3,000,000 2,330,580 1.57Scottish Widows Plc 5.5% GBP 16/06/2023 800,000 906,203 0.61Societe Generale SA FRN USD Perpetual 1,429,000 1,084,309 0.73Telecom Italia SpA FRN EUR 20/03/2073 2,000,000 1,970,500 1.33Telefonica Emisiones SAU 3.987% EUR 23/01/2023 1,500,000 1,458,087 0.98UBS AG FRN 4.28% EUR Perpetual 1,000,000 1,005,270 0.68UBS AG FRN 7.152% EUR Perpetual 200,000 220,750 0.15UniCredit SpA 6.95% EUR 31/10/2022 2,000,000 2,065,351 1.39United States Treasury Note/Bond 1.625% USD 15/08/2022 1,000,000 692,359 0.47United States Treasury Note/Bond 1.625% USD 15/11/2022 3,000,000 2,064,861 1.39United States Treasury Note/Bond 2.75% USD 15/08/2042 2,000,000 1,242,151 0.84United States Treasury Note/Bond 2.75% USD 15/11/2042 3,000,000 1,860,393 1.25United States Treasury Note/Bond 2.875% USD 15/05/2043 14,000,000 8,906,543 6.00United States Treasury Note/Bond 3% USD 15/05/2042 4,000,000 2,626,868 1.77United States Treasury Strip Principal 0% USD 15/11/2041 15,000,000 3,747,712 2.53

TOTAL BONDS 138,247,922 93.11




85 Invesco Funds



BONDSAbu Dhabi National Energy Co 2.5% USD 12/01/2018 300,000 292,620 0.16Abu Dhabi National Energy Co 3.625% USD 12/01/2023 700,000 641,938 0.35Abu Dhabi National Energy Co 5.875% USD 13/12/2021 400,000 435,087 0.24Access Finance BV 7.25% USD 25/07/2017 1,800,000 1,779,960 0.97ADCB Finance Cayman Ltd 4.5% USD 06/03/2023 2,800,000 2,674,912 1.45Ajecorp BV 6.5% USD 14/05/2022 2,625,000 2,604,000 1.42Akbank TAS 6.5% USD 09/03/2018 1,040,000 1,062,100 0.58Alicorp SAA 3.875% USD 20/03/2023 2,500,000 2,256,250 1.23Alpek SA de CV 5.375% USD 08/08/2023 3,000,000 2,926,768 1.59America Movil SAB de CV 3.125% USD 16/07/2022 1,000,000 902,670 0.49America Movil SAB de CV 6.45% MXN 05/12/2022 27,500,000 1,937,028 1.05Anadolu Efes Biracilik Ve Malt Sanayii AS 3.375% USD 01/11/2022 3,000,000 2,377,848 1.29Andrade Gutierrez International SA 4% USD 30/04/2018 1,400,000 1,302,000 0.71Arcos Dorados BV 7.5% USD 01/10/2019 1,986,000 2,115,090 1.15Banco Bradesco SA 5.75% USD 01/03/2022 1,600,000 1,514,400 0.82Banco Bradesco SA 5.9% USD 16/01/2021 1,200,000 1,164,000 0.63Banco Davivienda SA 2.95% USD 29/01/2018 1,000,000 932,500 0.51Banco Davivienda SA 5.875% USD 09/07/2022 1,500,000 1,421,250 0.77Banco de Bogota SA 5% USD 15/01/2017 1,850,000 1,913,825 1.04Banco de Credito del Peru FRN USD 24/04/2027 1,210,000 1,194,875 0.65Banco GNB Sudameris SA 3.875% USD 02/05/2018 1,000,000 922,500 0.50Banco Internacional del Peru SAA 5.75% USD 07/10/2020 1,520,000 1,542,800 0.84Banco Santander Mexico SA 4.125% USD 09/11/2022 4,200,000 3,816,751 2.07Bank of Ceylon 6.875% USD 03/05/2017 2,400,000 2,373,000 1.29BBVA Bancomer SA 6.5% USD 10/03/2021 1,690,000 1,723,800 0.94BBVA Bancomer SA 6.75% USD 30/09/2022 2,300,000 2,358,650 1.28BDO Unibank Inc 3.875% USD 22/04/2016 932,000 937,627 0.51Bestgain Real Estate Ltd 2.625% USD 13/03/2018 2,000,000 1,857,314 1.01Bharti Airtel International Netherlands BV 5.125% USD 11/03/2023 2,500,000 2,137,500 1.16Brazilian Government International Bond 8.5% BRL 05/01/2024 350,000 131,288 0.07Brazilian Government International Bond 12.5% BRL 05/01/2016 300,000 135,422 0.08Cementos Pacasmayo SAA 4.5% USD 08/02/2023 2,500,000 2,200,000 1.20Cencosud SA 4.875% USD 20/01/2023 2,000,000 1,848,585 1.01Cencosud SA 5.5% USD 20/01/2021 920,000 927,160 0.50Colombia Telecomunicaciones SA ESP 5.375% USD 27/09/2022 2,250,000 1,996,875 1.09Controladora Mabe SA de CV 7.875% USD 28/10/2019 2,600,000 2,859,999 1.56Corp Nacional del Cobre de Chile 3% USD 17/07/2022 500,000 445,441 0.24Corp Nacional del Cobre de Chile 4.5% USD 13/08/2023 1,500,000 1,473,970 0.81Cosan Luxembourg SA 5% USD 14/03/2023 1,600,000 1,408,000 0.77Cosan Luxembourg SA 9.5% BRL 14/03/2018 4,000,000 1,517,394 0.82Costa Rica Government International Bond 5.625% USD 30/04/2043 340,000 289,850 0.16Country Garden Holdings Co Ltd 7.5% USD 10/01/2023 3,150,000 2,905,874 1.59Croatia Government International Bond 5.5% USD 04/04/2023 900,000 862,653 0.47DBS Bank Ltd FRN USD 21/09/2022 1,600,000 1,625,541 0.88Development Bank of Kazakhstan JSC 4.125% USD 10/12/2022 1,900,000 1,708,246 0.93Dolphin Energy Ltd 5.5% USD 15/12/2021 2,400,000 2,574,000 1.40Dubai Electricity & Water Authority 7.375% USD 21/10/2020 700,000 786,625 0.42Emirate of Dubai Government International Bonds 5.25% USD 30/01/2043 400,000 321,148 0.17Empresa de Telecomunicaciones de Bogota 7% COP 17/01/2023 2,190,000,000 975,646 0.53Export-Import Bank of Malaysia Bhd 2.875% USD 14/12/2017 200,000 201,192 0.11Fomento Economico Mexicano SAB de CV 2.875% USD 10/05/2023 900,000 802,274 0.44Fomento Economico Mexicano SAB de CV 4.375% USD 10/05/2043 1,300,000 1,071,894 0.58Fufeng Group Ltd 7.625% USD 13/04/2016 1,500,000 1,485,000 0.81Gazprom Neft OAO Via GPN Capital SA 4.375% USD 19/09/2022 800,000 720,536 0.39Gazprom OAO Via Gaz Capital SA 6.51% USD 07/03/2022 400,000 417,800 0.23GeoPark Latin America Ltd Agencia en Chile 7.5% USD 11/02/2020 2,135,000 2,129,663 1.16Globo Comunicacao e Participacoes SA 6.25% USD Perpetual 3,450,000 3,639,750 1.98Gold Fields Orogen Holding BVI Ltd 4.875% USD 07/10/2020 2,650,000 2,111,304 1.15Golden Eagle Retail Group Ltd 4.625% USD 21/05/2023 2,100,000 1,795,756 0.98Grupo Aval Ltd 4.75% USD 26/09/2022 500,000 441,250 0.24Grupo Bimbo SAB de CV 4.5% USD 25/01/2022 500,000 502,528 0.27Grupo KUO SAB De CV 6.25% USD 04/12/2022 1,800,000 1,804,500 0.98GTB Finance B.V. 7.5% USD 19/05/2016 400,000 422,924 0.23Hongkong Land Finance Cayman Island Co Ltd 4.5% USD 01/06/2022 400,000 403,103 0.22Hutchison Whampoa International 10 Ltd FRN USD Perpetual 200,000 211,000 0.11Hutchison Whampoa International 12 Ltd FRN USD Perpetual 500,000 526,250 0.29ICICI Bank Ltd 4.7% USD 21/02/2018 1,150,000 1,122,311 0.61Indosat Palapa Co BV 7.375% USD 29/07/2020 2,355,000 2,493,355 1.36Industrial Senior Trust 5.5% USD 01/11/2022 1,500,000 1,362,000 0.74Inversiones CMPC SA 4.5% USD 25/04/2022 300,000 280,820 0.15

Invesco Emerging Market Corporate Bond Fund


86 Invesco Funds


BONDS (continued)IPIC GMTN Ltd 5.5% USD 01/03/2022 250,000 266,406 0.14Itau Unibanco Holding SA 5.125% USD 13/05/2023 1,950,000 1,725,750 0.94Kazakhstan Temir Zholy Finance BV 6.95% USD 10/07/2042 250,000 240,101 0.13KazMunayGas National Co JSC 4.4% USD 30/04/2023 330,000 295,739 0.16KazMunayGas National Co JSC 5.75% USD 30/04/2043 530,000 432,466 0.24Longfor Properties Co Ltd 6.875% USD 18/10/2019 230,000 228,067 0.12Medjool Ltd 3.875% USD 19/03/2023 2,400,000 2,171,373 1.18MTS International Funding Ltd 5% USD 30/05/2023 2,500,000 2,234,022 1.22MTS International Funding Ltd 8.625% USD 22/06/2020 1,000,000 1,155,920 0.63National Bank of Abu Dhabi PJSC 3% USD 13/08/2019 550,000 529,119 0.29National JSC Naftogaz of Ukraine 9.5% USD 30/09/2014 250,000 246,382 0.13Odebrecht Offshore Drilling Finance Ltd 6.75% USD 01/10/2022 2,200,000 2,158,200 1.17Oschadbank Via SSB #1 Plc 8.25% USD 10/03/2016 1,200,000 1,093,242 0.60Oschadbank Via SSB #1 Plc 8.875% USD 20/03/2018 1,000,000 851,083 0.46Oversea-Chinese Banking Corp Ltd FRN USD 11/03/2023 3,000,000 2,968,008 1.62Pacific Rubiales Energy Corp 5.125% USD 28/03/2023 2,500,000 2,243,750 1.22Pertamina Persero PT 4.3% USD 20/05/2023 500,000 407,500 0.22Pertamina Persero PT 5.625% USD 20/05/2043 1,700,000 1,258,000 0.69Perusahaan Listrik Negara PT 5.25% USD 24/10/2042 250,000 173,750 0.09Perusahaan Listrik Negara PT 5.5% USD 22/11/2021 800,000 728,000 0.40Petrobras Global Finance BV 3% USD 15/01/2019 850,000 783,949 0.42Petrobras Global Finance BV 4.375% USD 20/05/2023 2,200,000 1,961,197 1.06Petroleos Mexicanos 3.5% USD 30/01/2023 500,000 448,750 0.24Petroleos Mexicanos 7.65% MXN 24/11/2021 12,600,000 993,152 0.54Petroleos Mexicanos Series REGS 3.5% USD 30/01/2023 1,800,000 1,615,500 0.88Poly Real Estate Finance Ltd 4.5% USD 06/08/2018 2,000,000 1,958,609 1.06Polyus Gold International Ltd 5.625% USD 29/04/2020 3,000,000 2,854,998 1.55Provincia de Buenos Aires 10.875% USD 26/01/2021 200,000 146,000 0.08Provincia de Buenos Aires 11.75% USD 05/10/2015 150,000 133,125 0.07QGOG Atlantic / Alaskan Rigs Ltd 5.25% USD 30/07/2018 752,800 756,564 0.41QGOG Constellation SA 6.25% USD 09/11/2019 1,700,000 1,542,750 0.84Reliance Holdings USA Inc 5.4% USD 14/02/2022 2,000,000 1,953,937 1.06Republic of Angola Via Northern Lights III BV 7% USD 16/08/2019 450,000 477,019 0.26RHB Bank BHD 3.25% USD 11/05/2017 400,000 401,053 0.22Russian Agricultural Bank OJSC Via RSHB Capital SA 5.1% USD 25/07/2018 2,000,000 2,011,218 1.09Russian Agricultural Bank OJSC Via RSHB Capital SA 8.625% RUB 17/02/2017 7,500,000 226,900 0.12Samarco Mineracao SA 4.125% USD 01/11/2022 2,300,000 1,960,750 1.07Saudi Electricity Global Sukuk Co 4.211% USD 03/04/2022 2,200,000 2,149,472 1.17Saudi Electricity Global Sukuk Co 2 5.06% USD 08/04/2043 300,000 254,739 0.14Sberbank of Russia Via SB Capital SA 5.18% USD 28/06/2019 1,000,000 1,008,424 0.55Sberbank of Russia Via SB Capital SA 5.717% USD 16/06/2021 1,200,000 1,202,975 0.65Scotiabank Peru SA FRN USD 13/12/2027 2,000,000 1,730,000 0.93Shimao Property Holdings Ltd 6.625% USD 14/01/2020 2,100,000 1,957,308 1.06Sinochem Offshore Capital Co Ltd 1.8% CNY 18/01/2014 1,000,000 162,235 0.09Sistema JSFC via Sistema International Funding SA 6.95% USD 17/05/2019 2,900,000 3,002,768 1.64Sparkle Assets Ltd 6.875% USD 30/01/2020 2,000,000 1,833,931 1.00Sri Lanka Government International Bond 7.4% USD 22/01/2015 300,000 313,679 0.17State Oil Co of the Azerbaijan Republic 4.75% USD 13/03/2023 2,800,000 2,545,009 1.39State Oil Co of the Azerbaijan Republic 5.45% USD 09/02/2017 500,000 523,126 0.28Telefonica Chile SA 3.875% USD 12/10/2022 1,700,000 1,508,974 0.82Transportadora de Gas Internacional SA ESP 5.7% USD 20/03/2022 1,000,000 1,005,000 0.55Turkiye Halk Bankasi AS 4.875% USD 19/07/2017 430,000 417,351 0.23Turkiye Is Bankasi 6% USD 24/10/2022 2,150,000 1,915,966 1.04Turkiye Sise ve Cam Fabrikalari AS 4.25% USD 09/05/2020 2,400,000 1,979,095 1.08Ukraine Government International Bond 9.25% USD 24/07/2017 500,000 489,447 0.27Vale Overseas Ltd 4.375% USD 11/01/2022 1,600,000 1,506,738 0.82VimpelCom Holdings BV 5.2% USD 13/02/2019 800,000 779,279 0.42VimpelCom Holdings BV 5.95% USD 13/02/2023 1,200,000 1,073,863 0.58VimpelCom Holdings BV 7.504% USD 01/03/2022 1,050,000 1,064,648 0.58Vnesheconombank Via VEB Finance Plc 3.035% EUR 21/02/2018 1,100,000 1,421,466 0.77Volcan Cia Minera SAA 5.375% USD 02/02/2022 1,420,000 1,338,350 0.73VTB Bank OJSC Via VTB Capital SA 6% USD 12/04/2017 220,000 229,845 0.13West China Cement Ltd 7.5% USD 25/01/2016 1,800,000 1,777,500 0.97

TOTAL BONDS 174,881,527 95.11




Invesco Emerging Market Corporate Bond Fund


87 Invesco Funds



BONDSAbbey National Treasury Services Plc 1.75% EUR 15/01/2018 300,000 297,551 0.84ABN AMRO Bank NV 4.25% EUR 11/04/2016 100,000 107,748 0.30Achmea BV 6% EUR Perpetual 300,000 302,388 0.85American International Group Inc 4.375% EUR 26/04/2016 100,000 107,504 0.30Austria Government Bond 144A 3.5% EUR 15/07/2015 200,000 211,930 0.60AXA SA 4.5% EUR 23/01/2015 100,000 105,092 0.30Banca Monte dei Paschi di Siena SpA 4.875% EUR 15/09/2016 400,000 411,885 1.16Bankia SA 4.875% EUR 31/03/2014 100,000 102,153 0.29Barclays Bank Plc 3.5% EUR 18/03/2015 100,000 104,138 0.29BAT International Finance Plc 5.375% EUR 29/06/2017 150,000 173,275 0.48BAT International Finance Plc 5.875% EUR 12/03/2015 150,000 161,884 0.46BBVA Senior Finance SAU 3.25% EUR 21/03/2016 400,000 406,473 1.15Belgium Government Bond 3.5% EUR 28/06/2017 600,000 652,896 1.84Belgium Government Bond 3.75% EUR 28/09/2015 700,000 747,707 2.11BG Energy Capital Plc FRN USD 30/11/2072 200,000 160,711 0.45BP Capital Markets Plc 3.472% EUR 01/06/2016 150,000 160,228 0.45British Telecommunications Plc 6.125% EUR 11/07/2014 100,000 104,767 0.30Bundesobligation 0.25% EUR 13/04/2018 1,000,000 974,665 2.75Bundesobligation 0.5% EUR 13/10/2017 1,100,000 1,093,336 3.08Bundesobligation 1.25% EUR 14/10/2016 1,500,000 1,539,138 4.33Bundesobligation 2.5% EUR 10/10/2014 500,000 513,032 1.45Bundesobligation 2.5% EUR 27/02/2015 1,600,000 1,655,428 4.66Bundesrepublik Deutschland 1.75% EUR 04/07/2022 200,000 201,334 0.57Bundesrepublik Deutschland 3.5% EUR 04/01/2016 500,000 537,821 1.52Bundesschatzanweisungen 0% EUR 12/12/2014 1,000,000 998,138 2.81CaixaBank 3.125% EUR 16/09/2013 150,000 150,150 0.42Caterpillar International Finance Ltd 1.375% EUR 18/05/2015 200,000 202,695 0.57Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 3.875% EUR 25/07/2023 500,000 486,139 1.37Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 4.125% EUR 14/09/2022 100,000 101,436 0.29Cooperatieve Centrale Raiffeisen-Boerenleenbank BA FRN USD Perpetual 100,000 81,515 0.23Co-Operative Bank Plc 2.375% EUR 23/10/2015 500,000 469,580 1.32Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 200,000 223,594 0.63Deutsche Telekom International Finance BV 5.875% EUR 10/09/2014 100,000 105,433 0.30Dexia Credit Local SA 5.375% EUR 21/07/2014 400,000 411,317 1.15Digital Stout Holding LLC 4.25% GBP 17/01/2025 100,000 111,152 0.31Electricite de France SA FRN GBP Perpetual 300,000 352,925 0.99EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 25,000 27,482 0.08F Van Lanschot Bankiers NV 2.875% EUR 17/10/2016 400,000 399,834 1.13Finmeccanica Finance SA 8.125% EUR 03/12/2013 300,000 305,151 0.86French Treasury Note BTAN 2.5% EUR 25/07/2016 750,000 790,001 2.23GDF Suez 1.5% EUR 20/07/2017 300,000 303,988 0.86Heathrow Finance Plc 5.375% GBP 02/09/2019 100,000 118,273 0.33Heathrow Funding Ltd 3% GBP 08/06/2015 100,000 120,591 0.34Heathrow Funding Ltd 4.6% EUR 30/09/2014 150,000 156,058 0.44Heathrow Funding Ltd 4.6% EUR 15/02/2018 200,000 224,565 0.63Heathrow Funding Ltd 7.125% GBP 14/02/2024 100,000 139,077 0.39HSBC Finance Corp 4.5% EUR 14/06/2016 200,000 217,874 0.62HSBC Finance Corp 6.25% GBP 19/08/2019 150,000 203,972 0.58Hutchison Whampoa Finance 05 Ltd 4.125% EUR 28/06/2015 100,000 105,888 0.30ING Groep NV 4% EUR 18/09/2013 150,000 150,204 0.42Italy Buoni Poliennali Del Tesoro 3% EUR 15/04/2015 300,000 306,020 0.86Italy Buoni Poliennali Del Tesoro 3% EUR 01/11/2015 600,000 612,751 1.73Italy Buoni Poliennali Del Tesoro 3.5% EUR 01/11/2017 750,000 762,803 2.15Italy Buoni Poliennali Del Tesoro 4% EUR 01/02/2017 300,000 312,621 0.88Italy Buoni Poliennali Del Tesoro 4.75% EUR 15/09/2016 500,000 532,039 1.50Kutxabank SA 3% EUR 01/02/2017 400,000 409,420 1.15Lloyds Banking Group Plc 5.875% EUR 08/07/2014 500,000 516,976 1.47Lloyds TSB Bank Plc FRN GBP 29/05/2020 250,000 304,517 0.86Lowell Group Financing Plc 10.75% GBP 01/04/2019 100,000 131,952 0.37Mapfre SA 5.125% EUR 16/11/2015 300,000 316,727 0.89Morgan Stanley 3.75% EUR 21/09/2017 250,000 267,518 0.76Nationwide Building Society 3.75% EUR 20/01/2015 150,000 155,853 0.44Nationwide Building Society FRN EUR 20/03/2023 250,000 243,216 0.69Netherlands Government Bond 144A 3.25% EUR 15/07/2015 200,000 210,917 0.59Netherlands Government Bond 144A 4.5% EUR 15/07/2017 300,000 340,817 0.97

Invesco Euro Short Term Bond Fund


88 Invesco Funds

Invesco Euro Short Term Bond Fund



BONDS (continued)NGG Finance Plc FRN GBP 18/06/2073 250,000 290,522 0.82Nordea Bank AB FRN EUR 10/09/2018 100,000 100,104 0.28Norway Government Bond 3.75% NOK 25/05/2021 3,500,000 461,247 1.30Portugal Telecom International Finance BV 4.625% EUR 08/05/2020 200,000 187,683 0.53Rexel SA 5.125% EUR 15/06/2020 200,000 204,000 0.58RWE AG FRN GBP Perpetual 100,000 122,090 0.35RWE AG FRN USD 12/10/2072 130,000 104,096 0.29Sampo 4.25% EUR 27/02/2017 100,000 108,141 0.30Sanofi Emtn 1.875% EUR 04/09/2020 200,000 198,731 0.56Santander Consumer Finance SA 3.25% EUR 20/06/2014 500,000 507,400 1.43Securitas AB 2.75% EUR 28/02/2017 200,000 206,508 0.59Slovenia Government Bond 2.75% EUR 17/03/2015 750,000 752,583 2.12SNS Bank NV 4.625% EUR 18/02/2014 300,000 304,543 0.86Societe Generale SA FRN USD Perpetual 400,000 303,516 0.86Spain Government Bond 2.5% EUR 31/10/2013 650,000 652,169 1.84Spain Government Bond 3.4% EUR 30/04/2014 700,000 710,913 2.00Spain Government Bond 4% EUR 30/07/2015 750,000 775,719 2.19Spain Government Bond 4.25% EUR 31/10/2016 750,000 784,529 2.21Spain Government Bond 4.75% EUR 30/07/2014 750,000 774,725 2.18SSE Plc FRN EUR Perpetual 150,000 159,088 0.45Standard Chartered Bank 5.875% EUR 26/09/2017 200,000 224,136 0.63Standard Chartered Bank FRN USD Perpetual 200,000 162,398 0.46Svenska Cellulosa AB 3.625% EUR 26/08/2016 100,000 107,276 0.30Swiss Re Treasury US Corp 7% EUR 19/05/2014 100,000 104,540 0.29Turkiye Is Bankasi 3.875% USD 07/11/2017 350,000 244,468 0.69UBS AG FRN USD 22/02/2022 400,000 323,768 0.91UBS AG FRN USD 22/05/2023 200,000 145,188 0.41UniCredit Bank AG 6% EUR 05/02/2014 200,000 203,206 0.57Vodafone Group Plc 6.25% EUR 15/01/2016 200,000 225,163 0.63Xstrata Finance Dubai Ltd 1.75% EUR 19/05/2016 300,000 300,113 0.85Zurich Finance USA Inc 4.5% EUR 17/09/2014 100,000 104,087 0.29

TOTAL BONDS 33,066,913 93.21


OPEN-ENDED FUNDSShort-Term Investments Co Global Series - Euro Liquidity Portfolio 1,000,000 1,000,000 2.82




89 Invesco Funds



BONDSAstra Sedaya Finance PT 6.65% IDR 22/10/2013 5,000,000,000 456,882 1.89Bank of East Asia Ltd FRN USD 04/05/2022 400,000 434,501 1.79Big Will Investments Ltd 10.875% USD 29/04/2016 500,000 537,104 2.22CapitaLand Ltd 2.875% SGD 03/09/2016 750,000 603,364 2.49CapitaLand Treasury Ltd 4.3% SGD 31/08/2020 250,000 197,483 0.82Champion MTN Ltd 3.75% USD 17/01/2023 1,000,000 849,416 3.51Cheung Kong Bond Securities Ltd 5.125% SGD Perpetual 750,000 536,975 2.22China Government Bond 1.4% CNY 18/08/2016 2,000,000 313,035 1.29China Government Bond 2.36% CNY 18/08/2021 2,000,000 308,876 1.28CITIC Securities Finance 2013 Co Ltd 2.5% USD 03/05/2018 250,000 236,485 0.98CNOOC Finance 2012 Ltd 5% USD 02/05/2042 200,000 191,534 0.79Country Garden Holdings Co Ltd 11.125% USD 23/02/2018 1,000,000 1,112,500 4.60Doosan Infracore Co Ltd 4.5% USD 23/11/2016 300,000 320,453 1.32Export-Import Bank Korea 5.1% INR 29/10/2013 27,000,000 402,681 1.66Export-Import Bank of India 4% USD 14/01/2023 250,000 202,499 0.84Export-Import Bank of Korea 5.5% INR 22/10/2013 30,000,000 442,826 1.83Gemdale Asia Holding Ltd 5.625% CNY 21/03/2018 2,500,000 376,738 1.56Genting Singapore Plc 5.125% SGD Perpetual 1,250,000 927,633 3.83Hong Kong Government Bond Programme FRN HKD 28/07/2014 2,650,000 347,547 1.44Hong Kong Government Bond Programme FRN HKD 22/06/2015 1,500,000 198,828 0.82Hutchison Whampoa International 11 Ltd 4.625% USD 13/01/2022 300,000 308,428 1.27ICICI Bank Ltd 3.65% SGD 14/01/2020 500,000 368,556 1.52ICICI Bank Ltd 5.75% USD 16/11/2020 500,000 486,652 2.01Indonesia Government International Bond 3.375% USD 15/04/2023 250,000 201,525 0.83Indonesia Government International Bond 4.625% USD 15/04/2043 250,000 182,500 0.75Indonesia Government International Bond 10.375% USD 04/05/2014 300,000 315,382 1.30Indonesia Treasury Bond 9.5% IDR 15/06/2015 5,000,000,000 472,458 1.96Kaisa Group Holdings Ltd 6.875% CNY 22/04/2016 2,500,000 398,486 1.65Longfor Properties Co Ltd 6.75% USD 29/01/2023 500,000 456,392 1.88Malaysia Government Bond 4.16% MYR 15/07/2021 1,500,000 460,061 1.90Malaysia Government Bond 4.378% MYR 29/11/2019 1,500,000 469,021 1.94Mongolia Government International Bond 5.125% USD 05/12/2022 400,000 318,000 1.31Pertamina Persero PT 4.3% USD 20/05/2023 200,000 163,000 0.67Pertamina Persero PT 5.625% USD 20/05/2043 400,000 296,000 1.22Pertamina Persero PT 6% USD 03/05/2042 400,000 309,000 1.28Pertamina Persero PT 6.5% USD 27/05/2041 385,000 321,475 1.32PHBS Ltd 6.625% USD Perpetual 1,000,000 968,320 4.00Philippine Government International Bond 6.25% PHP 14/01/2036 32,000,000 778,073 3.21Philippine Government International Bond 9.5% USD 02/02/2030 300,000 429,570 1.77Philippine Government International Bond 10.625% USD 16/03/2025 200,000 301,250 1.24POSCO 8.75% USD 26/03/2014 300,000 312,667 1.29Shimao Property Holdings Ltd 6.625% USD 14/01/2020 250,000 233,013 0.96Shimao Property Holdings Ltd 11% USD 08/03/2018 600,000 673,121 2.78Singapore Airlines Ltd 3.22% SGD 09/07/2020 250,000 194,662 0.80Sinopec Capital 2013 Ltd 1.875% USD 24/04/2018 300,000 290,060 1.20Sinopec Capital 2013 Ltd 3.125% USD 24/04/2023 400,000 359,861 1.48Sinopec Capital 2013 Ltd 4.25% USD 24/04/2043 300,000 249,496 1.03Sun Hung Kai Properties Capital Market Ltd 3.23% HKD 10/01/2023 2,000,000 237,290 0.98Thailand Government Bond 1.25% THB 12/03/2028 10,000,000 273,515 1.13Thailand Government Bond 3.65% THB 17/12/2021 30,000,000 898,793 3.71Wharf Finance No 1 Ltd 4% CNY 27/03/2018 3,000,000 493,680 2.04Zhongsheng Group Holdings Ltd 4.75% CNY 21/04/2014 2,000,000 322,444 1.33

TOTAL BONDS 21,540,111 88.94


Invesco Asian Bond Fund


90 Invesco Funds

Invesco Asian Bond Fund




OTHER TRANSFERABLE SECURITIESBONDSBNP Paribas SA 3.05% HKD 30/09/2014 3,000,000 392,334 1.62Hysan MTN Ltd 3.9% HKD 08/03/2019 2,000,000 255,286 1.05Wheelock Finance Ltd 4.2% HKD 13/09/2022 2,000,000 243,114 1.00

TOTAL BONDS 890,734 3.67


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010Wing Lung Bank C/D CNY 08/10/2013 2,500,000 408,528 1.69

TOTAL MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010 408,528 1.69



91 Invesco Funds

Invesco US High Yield Bond Fund




EQUITIESGeneral Motors Co (Preferred) 5,000 244,325 0.35Goldman Sachs Group Inc (Preferred) 4,220 95,414 0.14Goodyear Tire & Rubber Co (Preferred) 1,100 65,357 0.10Royal Bank of Scotland Group Plc (Preferred) 2,000 45,570 0.07Wells Fargo & Co (Preferred) 10,780 261,523 0.38Zions Bancorporation Series G (Preferred) 8,665 212,769 0.31Zions Bancorporation Series H (Preferred) 2,000 43,760 0.06

TOTAL EQUITIES 968,718 1.41

BONDSAccess Midstream Partners LP / ACMP Finance Corp 5.875% USD 15/04/2021 554,000 570,620 0.83Access Midstream Partners LP / ACMP Finance Corp 6.125% USD 15/07/2022 80,000 82,600 0.12Actuant Corp 5.625% USD 15/06/2022 235,000 237,056 0.35AES Corp 7.375% USD 01/07/2021 587,000 644,233 0.95AES Corp 8% USD 15/10/2017 7,000 8,085 0.01AG Spring Finance II Ltd 9.5% EUR 01/06/2019 200,000 260,816 0.38Air Lease Corp 4.75% USD 01/03/2020 183,000 183,458 0.27Air Lease Corp 5.625% USD 01/04/2017 250,000 268,750 0.39Aircastle Ltd 6.75% USD 15/04/2017 50,000 53,125 0.08Aircastle Ltd 7.625% USD 15/04/2020 557,000 619,662 0.90Ally Financial Inc 7.5% USD 15/09/2020 480,000 541,799 0.80Ally Financial Inc 8% USD 15/03/2020 242,000 277,998 0.41America West Airlines 2001-1 Pass Through Trust 7.1% USD 02/04/2021 51,520 53,838 0.08American Axle & Manufacturing Inc 6.25% USD 15/03/2021 200,000 204,500 0.30American Axle & Manufacturing Inc 6.625% USD 15/10/2022 30,000 30,825 0.05AmeriGas Finance LLC 7% USD 20/05/2022 548,000 582,249 0.85Amkor Technology Inc 6.625% USD 01/06/2021 430,000 425,700 0.62Amkor Technology Inc 7.375% USD 01/05/2018 221,000 233,708 0.34Anixter Inc 5.625% USD 01/05/2019 35,000 36,313 0.05Atwood Oceanics Inc 6.5% USD 01/02/2020 85,000 91,375 0.13Avaya Inc 144A 9% USD 01/04/2019 250,000 241,250 0.35Avis Budget Car Rental LLC 8.25% USD 15/01/2019 75,000 81,938 0.12Avis Budget Car Rental LLC 9.75% USD 15/03/2020 30,000 34,500 0.05Avis Budget Finance Plc 6% EUR 01/03/2021 115,000 156,633 0.23B/E Aerospace Inc 5.25% USD 01/04/2022 305,000 302,713 0.44Bakkavor Finance 2 Plc 8.25% GBP 15/02/2018 200,000 324,767 0.47Beazer Homes USA Inc 9.125% USD 15/06/2018 295,000 311,963 0.46Berry Petroleum Co 6.375% USD 15/09/2022 317,000 317,000 0.46Biomet Inc 6.5% USD 01/08/2020 190,000 194,750 0.28Biomet Inc 6.5% USD 01/10/2020 150,000 150,375 0.22Boise Cascade Co 6.375% USD 01/11/2020 150,000 155,625 0.23Bombardier Inc 6.125% USD 15/01/2023 60,000 59,400 0.09Bombardier Inc 7.75% USD 15/03/2020 105,000 117,075 0.17Bonanza Creek Energy Inc 6.75% USD 15/04/2021 253,000 258,693 0.38Boyd Gaming Corp 9% USD 01/07/2020 336,000 361,200 0.53Boyd Gaming Corp 9.125% USD 01/12/2018 280,000 306,250 0.45Bristow Group Inc 6.25% USD 15/10/2022 695,000 714,980 1.04Cabot Financial Luxembourg SA 10.375% GBP 01/10/2019 100,000 175,076 0.26Caesars Entertainment Operating Co Inc 9% USD 15/02/2020 300,000 288,750 0.42Caesars Entertainment Operating Co Inc 10% USD 15/12/2015 25,000 21,813 0.03Caesars Entertainment Operating Co Inc Series * 9% USD 15/02/2020 10,000 9,625 0.01Cascades Inc 7.875% USD 15/01/2020 215,000 226,825 0.33Case New Holland Inc 7.875% USD 01/12/2017 50,000 57,750 0.08CCO Holdings LLC 5.125% USD 15/02/2023 80,000 72,200 0.11Cemex SAB de CV 5.875% USD 25/03/2019 500,000 485,000 0.71Central European Media Enterprises Ltd 11.625% EUR 15/09/2016 50,000 70,071 0.10Central Garden and Pet Co 8.25% USD 01/03/2018 40,000 38,900 0.06Chaparral Energy Inc 7.625% USD 15/11/2022 270,000 272,700 0.40Chaparral Energy Inc 8.25% USD 01/09/2021 26,000 27,235 0.04Chemtura Corp 5.75% USD 15/07/2021 425,000 422,875 0.62Chesapeake Energy Corp 6.125% USD 15/02/2021 345,000 359,663 0.53Chesapeake Energy Corp 6.625% USD 15/08/2020 257,000 276,918 0.40Chrysler Group LLC 8% USD 15/06/2019 200,000 218,250 0.32

92 Invesco Funds




BONDS (continued)Cimarex Energy Co 5.875% USD 01/05/2022 412,000 420,240 0.61Cinemark USA Inc 5.125% USD 15/12/2022 197,000 185,180 0.27Cirsa Funding Luxembourg SA 8.75% EUR 15/05/2018 100,000 135,207 0.20CIT Group Inc 5% USD 15/08/2022 535,000 507,790 0.74CIT Group Inc 5.25% USD 15/03/2018 100,000 103,375 0.15Citigroup Inc FRN USD Perpetual 240,000 228,300 0.33CityCenter Holdings LLC 10.75% USD 15/01/2017 175,000 189,438 0.28Clean Harbors Inc 5.125% USD 01/06/2021 25,000 24,406 0.04Clean Harbors Inc 5.25% USD 01/08/2020 100,000 99,250 0.14Clear Channel Worldwide Holdings Inc 6.5% USD 15/11/2022 25,000 25,063 0.04Clear Channel Worldwide Holdings Inc 7.625% USD 15/03/2020 484,000 486,420 0.71Columbus McKinnon Corp 7.875% USD 01/02/2019 117,000 123,435 0.18Commercial Metals Co 4.875% USD 15/05/2023 24,000 21,840 0.03Commercial Vehicle Group Inc 7.875% USD 15/04/2019 250,000 250,000 0.37CONSOL Energy Inc 6.375% USD 01/03/2021 240,000 243,600 0.36CONSOL Energy Inc 8.25% USD 01/04/2020 205,000 217,813 0.32Constellation Brands Inc 6% USD 01/05/2022 320,000 337,600 0.49Continental Airlines 2007-1 Class C Pass Through Trust 7.339% USD 19/04/2014 32,525 32,850 0.05Co-operative Group Holdings 2011 6.875% GBP 08/07/2020 100,000 148,012 0.22CoreLogic Inc 7.25% USD 01/06/2021 100,000 107,250 0.16Cricket Communications Inc 7.75% USD 15/10/2020 618,000 703,747 1.03Crosstex Energy LP 7.125% USD 01/06/2022 629,000 647,869 0.94Cyrusone LP 6.375% USD 15/11/2022 260,000 263,250 0.38Dana Holding Corp 5.375% USD 15/09/2021 200,000 197,250 0.29Dana Holding Corp 6% USD 15/09/2023 200,000 195,500 0.29DaVita HealthCare Partners Inc 5.75% USD 15/08/2022 100,000 99,500 0.15DFS Furniture Holdings Plc 7.625% GBP 15/08/2018 100,000 163,022 0.24Digicel Ltd 6% USD 15/04/2021 250,000 241,875 0.36DISH DBS Corp 5.875% USD 15/07/2022 455,000 448,175 0.65Dish Dbs Corp 5.125% USD 01/05/2020 187,000 181,858 0.27DJO Finance LLC 7.75% USD 15/04/2018 65,000 64,188 0.09DJO Finance LLC 9.75% USD 15/10/2017 115,000 116,294 0.17DR Horton Inc 4.75% USD 15/02/2023 135,000 124,031 0.18Dycom Investments Inc 7.125% USD 15/01/2021 90,000 95,175 0.14eAccess Ltd 8.375% EUR 01/04/2018 100,000 147,090 0.21Eagle Rock Energy Partners LP 8.375% USD 01/06/2019 182,000 182,910 0.27Energy Transfer Equity LP 7.5% USD 15/10/2020 469,000 511,210 0.75Equinix Inc 5.375% USD 01/04/2023 200,000 191,000 0.28Equinix Inc 7% USD 15/07/2021 205,000 220,631 0.32EV Energy Partners LP 8% USD 15/04/2019 250,000 251,250 0.37EXCO Resources Inc 7.5% USD 15/09/2018 471,000 463,935 0.68Ferrellgas LP 6.5% USD 01/05/2021 410,000 412,050 0.60Ferro Corp 7.875% USD 15/08/2018 180,000 191,475 0.28First Data Corp 144A 8.25% USD 15/01/2021 300,000 307,500 0.45First Data Corp 11.25% USD 31/03/2016 362,000 362,905 0.53First Data Corp 12.625% USD 15/01/2021 650,000 705,249 1.02FMG Resources August 2006 Pty Ltd 6.375% USD 01/02/2016 50,000 51,125 0.07FMG Resources August 2006 Pty Ltd 144A 8.25% USD 01/11/2019 325,000 346,125 0.51Freescale Semiconductor Inc 8.05% USD 01/02/2020 345,000 360,525 0.53Freescale Semiconductor Inc 10.75% USD 01/08/2020 405,000 448,538 0.66FTI Consulting Inc 6.75% USD 01/10/2020 400,000 424,499 0.62Gala Group Finance Plc 8.875% GBP 01/09/2018 100,000 166,259 0.24Gestamp Funding Luxembourg SA 5.875% EUR 31/05/2020 100,000 130,739 0.19Gibraltar Industries 6.25% USD 01/02/2021 115,000 116,725 0.17Goodyear Tire & Rubber Co 6.5% USD 01/03/2021 255,000 260,100 0.38Greif Luxembourg Finance SCA 7.375% EUR 15/07/2021 100,000 150,598 0.22Gulfmark Offshore Inc 6.375% USD 15/03/2022 446,000 453,804 0.66H&E Equipment Services Inc 7% USD 01/09/2022 100,000 106,000 0.15Halcon Resources Corp 8.875% USD 15/05/2021 575,000 577,874 0.84Hartford Financial Services Group Inc FRN USD 15/06/2038 150,000 170,625 0.25HCA Holdings Inc 6.25% USD 15/02/2021 360,000 360,900 0.53HCA Inc 5.875% USD 15/03/2022 225,000 231,750 0.34HCA Inc 5.875% USD 01/05/2023 275,000 270,188 0.39Hellenic Petroleum Finance Plc 8% EUR 10/05/2017 200,000 265,625 0.39Hertz Corp 5.875% USD 15/10/2020 239,000 245,274 0.36Hertz Corp 6.75% USD 15/04/2019 91,000 97,484 0.14Hertz Corp 7.375% USD 15/01/2021 460,000 497,949 0.73

93 Invesco Funds




BONDS (continued)Hughes Satellite Systems Corp 6.5% USD 15/06/2019 75,000 79,125 0.12Hughes Satellite Systems Corp 7.625% USD 15/06/2021 90,000 96,750 0.14Infinis Plc 7% GBP 15/02/2019 100,000 161,221 0.24Intelsat Jackson Holdings SA 7.25% USD 15/10/2020 95,000 101,888 0.15Intelsat Jackson Holdings SA 7.5% USD 01/04/2021 225,000 244,125 0.36Intelsat Luxembourg SA 144A 8.125% USD 01/06/2023 500,000 522,499 0.76Interface Inc 7.625% USD 01/12/2018 65,000 70,281 0.10International Lease Finance Corp 4.625% USD 15/04/2021 50,000 45,781 0.07International Lease Finance Corp 5.875% USD 01/04/2019 40,000 40,725 0.06International Lease Finance Corp 5.875% USD 15/08/2022 320,000 306,666 0.45International Lease Finance Corp 8.25% USD 15/12/2020 350,000 388,500 0.57Intralot Finance Luxembourg SA 9.75% EUR 15/08/2018 350,000 482,025 0.70Jefferies Finance LLC 144A 7.375% USD 01/04/2020 250,000 248,125 0.36Jones Group Inc 6.875% USD 15/03/2019 415,000 425,894 0.62K Hovnanian Enterprises Inc 6.25% USD 15/01/2016 280,000 289,100 0.42K Hovnanian Enterprises Inc 7.5% USD 15/05/2016 80,000 84,900 0.12K Hovnanian Enterprises Inc 11.875% USD 15/10/2015 20,000 22,750 0.03KB Home 7.5% USD 15/09/2022 25,000 26,250 0.04Key Energy Services Inc 6.75% USD 01/03/2021 445,000 441,663 0.65Kleopatra Holdings 1 11% EUR 15/08/2017 250,000 339,260 0.49Kratos Defense & Security Solutions Inc 10% USD 01/06/2017 310,000 336,350 0.49KraussMaffei Group GmbH 8.75% EUR 15/12/2020 100,000 141,589 0.21L Brands Inc 5.625% USD 15/02/2022 260,000 263,250 0.38L Brands Inc 6.625% USD 01/04/2021 55,000 58,713 0.09La Financiere Atalian SA 7.25% EUR 15/01/2020 250,000 324,365 0.47Lennar Corp 6.95% USD 01/06/2018 90,000 97,875 0.14Level 3 Communications Inc 8.875% USD 01/06/2019 43,000 46,010 0.07Level 3 Communications Inc 11.875% USD 01/02/2019 175,000 201,250 0.29Level 3 Financing Inc 7% USD 01/06/2020 125,000 126,094 0.18Level 3 Financing Inc 8.125% USD 01/07/2019 155,000 164,300 0.24Level 3 Financing Inc 8.625% USD 15/07/2020 225,000 241,875 0.35Level 3 Financing Inc 9.375% USD 01/04/2019 100,000 109,500 0.16Levi Strauss & Co 6.875% USD 01/05/2022 500,000 533,749 0.78Levi Strauss & Co 7.625% USD 15/05/2020 75,000 80,813 0.12Lin Television Corp 6.375% USD 15/01/2021 340,000 341,700 0.50Lowell Group Financing Plc 10.75% GBP 01/04/2019 100,000 174,696 0.25M/I Homes Inc 8.625% USD 15/11/2018 330,000 353,100 0.52Manitowoc Co Inc 5.875% USD 15/10/2022 150,000 148,500 0.22Manitowoc Co Inc 8.5% USD 01/11/2020 235,000 261,438 0.38Manutencoop Facility Management SpA 8.5% EUR 01/08/2020 250,000 312,781 0.46MarkWest Energy Partners LP 5.5% USD 15/02/2023 165,000 162,938 0.24MarkWest Energy Partners LP 6.5% USD 15/08/2021 337,000 359,748 0.53Mem Prod Part LP 7.625% USD 01/05/2021 339,000 328,830 0.48Meritage Homes Corp 7% USD 01/04/2022 435,000 468,712 0.68MetroPCS Wireless Inc 144A 6.25% USD 01/04/2021 370,000 370,463 0.54MetroPCS Wireless Inc 6.625% USD 15/11/2020 605,000 629,955 0.92MGM Resorts International 6.625% USD 15/12/2021 230,000 233,738 0.34MGM Resorts International 6.75% USD 01/10/2020 127,000 130,493 0.19MGM Resorts International 7.75% USD 15/03/2022 699,000 750,026 1.09Michaels Stores Inc 7.75% USD 01/11/2018 145,000 156,781 0.23Mobile Challenger Intermediate Group SA 8.75% CHF 15/03/2019 200,000 213,365 0.31MPT Operating Partnership LP 6.875% USD 01/05/2021 65,000 68,738 0.10Nara Cable Funding Ltd 8.875% USD 01/12/2018 200,000 208,000 0.30Nara Cable Funding Ltd 8.875% EUR 01/12/2018 250,000 350,208 0.52Navios Maritime Acquisition Corp 8.625% USD 01/11/2017 20,000 20,850 0.03Navistar International Corp 8.25% USD 01/11/2021 190,000 189,763 0.28Newfield Exploration Co 6.875% USD 01/02/2020 369,000 387,450 0.57Nortek Inc 8.5% USD 15/04/2021 300,000 326,250 0.48Nortek Inc 10% USD 01/12/2018 144,000 158,400 0.23NRG Energy Inc 7.625% USD 15/01/2018 100,000 111,250 0.16NRG Energy Inc 7.875% USD 15/05/2021 305,000 329,400 0.48Oasis Petroleum Inc 6.5% USD 01/11/2021 100,000 105,500 0.15Outerwall Inc 144A 6% USD 15/03/2019 220,000 220,550 0.32Peabody Energy Corp 6% USD 15/11/2018 189,000 189,945 0.28Peabody Energy Corp 6.5% USD 15/09/2020 250,000 250,000 0.37Pendragon Plc 6.875% GBP 01/05/2020 300,000 480,173 0.71PH Glatfelter Co 5.375% USD 15/10/2020 635,000 635,000 0.93Pinnacle Entertainment Inc 7.5% USD 15/04/2021 330,000 353,100 0.52

94 Invesco Funds




BONDS (continued)Ply Gem Industries Inc 9.375% USD 15/04/2017 200,000 211,500 0.31PolyOne Corp 7.375% USD 15/09/2020 558,000 617,985 0.90Polypore International Inc 7.5% USD 15/11/2017 103,000 109,953 0.16Portucel SA 5.375% EUR 15/05/2020 100,000 135,151 0.20Post Holdings Inc 7.375% USD 15/02/2022 250,000 264,375 0.39Precision Drilling Corp 6.5% USD 15/12/2021 270,000 283,500 0.41Precision Drilling Corp 6.625% USD 15/11/2020 150,000 158,625 0.23PVH Corp 4.5% USD 15/12/2022 90,000 83,813 0.12QEP Resources Inc 5.25% USD 01/05/2023 167,000 156,980 0.23QEP Resources Inc 5.375% USD 01/10/2022 319,000 305,443 0.45R&R Pik Plc 9.25% EUR 15/05/2018 100,000 135,704 0.20Range Resources Corp 5% USD 15/08/2022 130,000 127,725 0.19Range Resources Corp 5.75% USD 01/06/2021 195,000 205,238 0.30Regency Energy Partners LP 6.5% USD 15/07/2021 582,000 619,829 0.90Regions Bank 6.45% USD 26/06/2037 250,000 260,343 0.38Regions Financial Corp 7.375% USD 10/12/2037 160,000 172,677 0.25Rent-A-Center Inc 6.625% USD 15/11/2020 185,000 195,638 0.29Reynolds Group Issuer Inc 5.75% USD 15/10/2020 642,000 638,789 0.93Reynolds Group Issuer Inc 7.125% USD 15/04/2019 100,000 106,750 0.16Rosetta Resources Inc 5.625% USD 01/05/2021 590,000 570,824 0.83Royal Bank of Scotland Group Plc 6.125% USD 15/12/2022 115,000 111,067 0.16Royal Caribbean Cruises Ltd 5.25% USD 15/11/2022 60,000 58,800 0.09Royal Caribbean Cruises Ltd 7.25% USD 15/03/2018 25,000 28,500 0.04Royal Caribbean Cruises Ltd 7.5% USD 15/10/2027 20,000 21,400 0.03RR Donnelley & Sons Co 7.875% USD 15/03/2021 75,000 80,813 0.12Ryland Group Inc 5.375% USD 01/10/2022 380,000 352,450 0.51Sally Holdings LLC 5.75% USD 01/06/2022 100,000 100,625 0.15SandRidge Energy Inc 7.5% USD 15/03/2021 646,000 643,577 0.93SBA Communications Corp 5.625% USD 01/10/2019 265,000 261,688 0.38Schaeffler Finance BV 4.25% EUR 15/05/2018 300,000 399,367 0.59Schaeffler Holding Finance BV 6.875% EUR 15/08/2018 200,000 274,055 0.40Seagate HDD Cayman 7% USD 01/11/2021 270,000 293,625 0.43SM Energy Co 6.5% USD 15/11/2021 255,000 269,025 0.39Speedway Motorsports Inc 6.75% USD 01/02/2019 105,000 111,563 0.16Spie BondCo 3 SCA 11% EUR 15/08/2019 100,000 148,612 0.22Sprint Capital Corp 6.875% USD 15/11/2028 295,000 266,975 0.39Sprint Capital Corp 6.9% USD 01/05/2019 185,000 191,244 0.28Sprint Communications Inc 6% USD 15/11/2022 710,000 665,624 0.97Sprint Communications Inc 7% USD 15/08/2020 451,000 465,658 0.68Starz LLC 5% USD 15/09/2019 150,000 147,750 0.22Steel Dynamics Inc 6.375% USD 15/08/2022 189,000 197,505 0.29Suburban Propane Partners LP 7.375% USD 15/03/2020 238,000 253,470 0.37Suburban Propane Partners LP 7.375% USD 01/08/2021 258,000 272,835 0.40SunCoke Energy Inc 7.625% USD 01/08/2019 240,000 256,200 0.37Synovus Financial Corp 5.125% USD 15/06/2017 175,000 178,500 0.26Synovus Financial Corp 7.875% USD 15/02/2019 180,000 206,100 0.30Takko Luxembourg 2 S.C.A 9.875% EUR 15/04/2019 100,000 124,820 0.18Targa Resources Partners LP 6.875% USD 01/02/2021 367,000 390,855 0.57TeamSystem Holding SpA 7.375% EUR 15/05/2020 100,000 130,408 0.19Tenet Healthcare Corp 8% USD 01/08/2020 440,000 459,249 0.67Terex Corp 6% USD 15/05/2021 290,000 292,900 0.43Terex Corp 6.5% USD 01/04/2020 25,000 26,125 0.04Texas Industries Inc 9.25% USD 15/08/2020 275,000 301,813 0.44Thomas Cook Finance Plc 7.75% EUR 15/06/2020 100,000 132,577 0.19Transdigm Inc 5.5% USD 15/10/2020 90,000 87,975 0.13Tutor Perini Corp 7.625% USD 01/11/2018 50,000 52,500 0.08U.S. Airways 2013-1b 5.375% USD 15/05/2023 100,000 96,000 0.14United Continental Holdings Inc 6.375% USD 01/06/2018 600,000 608,999 0.88United Refining Co 10.5% USD 28/02/2018 81,000 90,315 0.13United Rentals North America Inc 6.125% USD 15/06/2023 175,000 171,938 0.25United Rentals North America Inc 8.25% USD 01/02/2021 50,000 55,500 0.08United States Steel Corp 7.5% USD 15/03/2022 170,000 171,700 0.25Universal Hospital Services Inc 7.625% USD 15/08/2020 190,000 199,025 0.29UPC Holding BV 6.75% EUR 15/03/2023 100,000 130,114 0.19UPC Holding BV 6.75% CHF 15/03/2023 150,000 158,814 0.23US Airways 2012-2 Class B Pass Through Trust 6.75% USD 03/06/2021 50,000 51,875 0.08USG Corp 9.75% USD 15/01/2018 240,000 277,800 0.41Vedanta Resources Plc 6% USD 31/01/2019 250,000 227,500 0.33

95 Invesco Funds




BONDS (continued)ViaSat Inc 6.875% USD 15/06/2020 315,000 331,538 0.48Vimpel Communications Via VIP Finance Ireland Ltd OJSC 7.748% USD 02/02/2021 200,000 207,040 0.30Virgin Media Finance Plc 7% GBP 15/04/2023 400,000 627,831 0.92Virgin Media Secured Finance Plc 6% GBP 15/04/2021 100,000 155,214 0.23WEPA Hygieneprodukte GmbH 6.5% EUR 15/05/2020 100,000 139,014 0.20Wind Acquisition Finance SA 6.5% USD 30/04/2020 200,000 201,000 0.29Wind Acquisition Finance SA 11.75% USD 15/07/2017 200,000 210,500 0.31WPX Energy Inc 6% USD 15/01/2022 441,000 442,103 0.65Wynn Las Vegas LLC 7.75% USD 15/08/2020 100,000 112,000 0.16Zions Bancorporation FRN USD Perpetual 150,000 132,375 0.19Zobele Holding SpA 7.875% EUR 01/02/2018 100,000 137,524 0.20

TOTAL BONDS 65,106,100 95.10




96 Invesco Funds

Invesco Renminbi Fixed Income Fund




BONDSAUSTRALIAAustralia & New Zealand Banking Group Ltd 2.9% CNY 14/08/2015 3,000,000 489,144 0.98

BERMUDAIT Ltd 6.25% CNY 15/05/2018 9,500,000 1,230,701 2.48Noble Group Ltd 4% CNY 30/01/2016 8,000,000 1,304,670 2.62

2,535,371 5.10

CAYMAN ISLANDSChina Shanshui Cement Group Ltd 6.5% CNY 22/07/2014 3,300,000 540,686 1.09Kaisa Group Holdings Ltd 6.875% CNY 22/04/2016 5,000,000 796,972 1.61Zhongsheng Group Holdings Ltd 4.75% CNY 21/04/2014 3,000,000 483,666 0.97

1,821,324 3.67

CHINABank of China Ltd 0% CNY 06/09/2013 5,000,000 816,937 1.64Bank of China Ltd 1.2% CNY 09/06/2014 7,000,000 1,127,740 2.28Bank of Communications Co Ltd 2.98% CNY 09/03/2014 3,000,000 489,016 0.98China Construction Bank Corp 2.6% CNY 29/01/2014 6,000,000 979,114 1.97China Construction Bank Corp 2.65% CNY 04/03/2014 3,000,000 489,498 0.99China Construction Bank Corp 3.25% CNY 28/06/2015 5,000,000 813,442 1.64China Development Bank Corp 2.9% CNY 25/06/2014 3,000,000 489,417 0.99China Development Bank Corp 3.45% CNY 16/01/2017 5,000,000 817,321 1.64China General Nuclear Power Holding Corp 3.75% CNY 01/11/2015 11,000,000 1,801,651 3.63China Government Bond 2.56% CNY 29/06/2017 6,000,000 968,896 1.95China Government Bond 3.1% CNY 29/06/2022 11,000,000 1,766,230 3.56China Government Bond 3.48% CNY 29/06/2027 3,000,000 460,995 0.93China Government Bond 3.6% CNY 27/06/2028 7,000,000 1,092,469 2.20China Government Bond 3.95% CNY 29/06/2043 4,500,000 717,623 1.44Export-Import Bank of China 2.7% CNY 07/04/2014 5,000,000 815,084 1.64HSBC Bank China Co Ltd FRN CNY 10/01/2015 11,500,000 1,899,908 3.83Huaneng Power International Inc 3.85% CNY 05/02/2016 9,000,000 1,475,817 2.97

17,021,158 34.28

HONG KONGAsian Development Bank 2.85% CNY 21/10/2020 1,000,000 158,699 0.32BYD HK Co Ltd 4.5% CNY 28/04/2014 2,000,000 323,497 0.65Galaxy Entertainment Group Ltd 4.625% CNY 16/12/2013 4,000,000 653,972 1.32Gemdale Asia Holding Ltd 5.625% CNY 21/03/2018 10,000,000 1,506,953 3.03Gemdale International Holding Ltd 9.15% CNY 26/07/2015 1,000,000 172,029 0.35HKCG Finance Ltd 1.4% CNY 11/04/2016 11,000,000 1,712,680 3.45Wharf Finance No 1 Ltd 4% CNY 27/03/2018 9,700,000 1,596,232 3.21Wing Lung Bank 1.2% CNY 22/04/2014 3,000,000 486,197 0.98Yanlord Land HK Co Ltd 5.375% CNY 23/05/2016 2,000,000 313,683 0.63

6,923,942 13.94

INDIAICICI Bank Ltd 4% CNY 25/06/2016 4,000,000 647,131 1.30ICICI Bank Ltd 4.9% CNY 21/09/2015 7,000,000 1,148,262 2.31

1,795,393 3.61

MALAYSIAAxiata SPV2 Bhd 3.75% CNY 18/09/2014 9,500,000 1,554,522 3.13

SOUTH KOREAKorea Development Bank 3.3% CNY 21/06/2015 3,000,000 492,208 0.99Shinhan Bank 3.5% CNY 19/09/2014 8,800,000 1,440,565 2.90

1,932,773 3.89

97 Invesco Funds

Invesco Renminbi Fixed Income Fund



SWEDENVolvo Treasury AB 3.8% CNY 22/11/2015 5,000,000 819,163 1.65

UNITED KINGDOMBig Will Investments Ltd 7% CNY 29/04/2014 10,000,000 1,647,273 3.32BP Capital Markets Plc 1.7% CNY 15/09/2014 7,000,000 1,126,461 2.26CNPC Golden Autumn Ltd 2.55% CNY 26/10/2013 5,000,000 816,223 1.64CNPC Golden Autumn Ltd 2.95% CNY 26/10/2014 1,670,000 272,027 0.55Right Century Ltd 1.85% CNY 03/06/2014 4,000,000 644,087 1.30Silvery Castle Ltd 2.75% CNY 14/07/2014 2,000,000 323,923 0.65Standard Chartered Plc 2.625% CNY 31/05/2016 4,000,000 643,558 1.30Value Success International Ltd 2.075% CNY 09/06/2014 12,000,000 1,946,646 3.92

7,420,198 14.94

UNITED STATESCaterpillar Financial Services Corp 3.25% CNY 26/06/2015 5,500,000 901,121 1.81

TOTAL BONDS 43,214,109 87.00


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010HONG KONGWing Lung Bank C/D CNY 08/10/2013 3,500,000 571,939 1.15Wing Lung Bank C/D CNY 22/04/2014 3,000,000 490,350 0.99

1,062,289 2.14




98 Invesco Funds


MONEY MARKET INSTRUMENTS ELIGIBLE UNDER ARTICLE 41.1H OF THE LAW OF 17 DECEMBER 2010Bank Of Tokyo C/D EUR 13/01/2014 4,000,000 3,997,584 4.19GE Captial Europe C/P EUR 10/01/2014 4,000,000 3,997,195 4.19LMA SA C/P EUR 19/09/2013 4,000,000 3,999,778 4.20Macquarie Bank Ltd C/P EUR 24/09/2013 4,000,000 3,999,611 4.19Macquarie Bank Ltd C/P EUR 30/09/2013 4,000,000 3,999,519 4.19Matchpoint Finance C/P EUR 25/11/2013 3,000,000 2,998,934 3.15Nordea Bank C/P EUR 20/11/2013 4,000,000 3,998,905 4.19Procter & Gamble Co C/P EUR 15/10/2013 4,000,000 3,999,517 4.19Rabobank Nederland C/D EUR 10/01/2014 4,000,000 3,998,965 4.19Regency Assets Ltd C/P EUR 11/09/2013 4,000,000 3,999,930 4.20Sumitomo Mitsui Banking C/P EUR 21/10/2013 4,000,000 3,999,451 4.19


OPEN-ENDED FUNDSDB WTI Crude Oil Booster ETC 43,116 3,681,638 3.86Invesco Funds SICAV - Global Structured Equity Fund 315,400 9,097,947 9.54Source Physical Markets Gold P-ETC 48,663 5,070,890 5.31




Invesco Capital Shield 90 (EUR) Fund


99 Invesco Funds



EQUITIESAUSTRALIAAdelaide Brighton Ltd 4,363,664 13,087,522 1.28AMP Ltd 2,849,216 12,060,323 1.18APA Group 2,306,507 12,330,184 1.20ASX Ltd 471,172 14,910,642 1.46Australia & New Zealand Banking Group Ltd 836,400 22,169,317 2.17Cardno Ltd 1,196,403 6,855,658 0.67GWA Group Ltd 3,244,653 8,266,596 0.81Iress Ltd 2,291,628 18,089,161 1.77Monadelphous Group Ltd 350,322 5,829,671 0.57Platinum Asset Management Ltd 3,044,711 14,534,528 1.42Retail Food Group Ltd 3,454,538 13,063,030 1.28Sonic Healthcare Ltd 1,020,435 14,098,339 1.38SP AusNet 12,115,476 12,509,388 1.22STW Communications Group Ltd 9,888,367 13,723,655 1.34Tatts Group Ltd 4,583,912 13,133,422 1.28Telstra Corp Ltd 4,612,717 20,225,973 1.98Westpac Banking Corp 817,415 22,904,693 2.24Wotif.com Holdings Ltd 1,945,756 8,018,680 0.78

245,810,782 24.03

BERMUDAHuabao International Holdings Ltd 13,699,000 6,076,315 0.59Texwinca Holdings Ltd 7,092,000 6,689,228 0.65

12,765,543 1.24

CAYMAN ISLANDSAnta Sports Products Ltd 15,506,000 19,973,686 1.95Bonjour Holdings Ltd 40,328,000 8,137,930 0.80

28,111,616 2.75

CHINAChina Shenhua Energy Co Ltd 4,523,500 14,042,157 1.37Jiangsu Expressway Co Ltd 13,022,000 14,700,320 1.44

28,742,477 2.81

HONG KONGShougang Fushan Resources Group Ltd 19,484,000 6,494,289 0.63Television Broadcasts Ltd 1,965,000 12,902,877 1.26

19,397,166 1.89

INDONESIABank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 115,836,000 8,220,961 0.80

MALAYSIABerjaya Sports Toto Bhd 10,031,531 12,215,810 1.19Maxis Bhd 6,313,900 13,157,283 1.29

25,373,093 2.48

NEW ZEALANDSKYCITY Entertainment Group Ltd 2,721,059 8,245,664 0.81

PAKISTANMCB Bank Ltd 4,295,003 10,903,996 1.07National Bank of Pakistan 30,539,242 14,150,121 1.38Pakistan Oilfields Ltd 2,639,435 12,212,565 1.19Pakistan Petroleum Ltd 6,082,561 13,899,420 1.36United Bank Ltd 11,907,500 14,945,348 1.46

66,111,450 6.46

Invesco Asia Balanced Fund


100 Invesco Funds


PHILIPPINESPhilippine Long Distance Telephone Co 202,545 13,029,188 1.27

SINGAPOREM1 Ltd 4,675,000 11,793,733 1.15Singapore Post Ltd 13,177,000 12,898,696 1.26Singapore Telecommunications Ltd 5,670,000 15,638,572 1.53StarHub Ltd 4,152,000 13,667,152 1.34

53,998,153 5.28

SOUTH KOREASK Telecom Co Ltd 72,018 14,354,292 1.40

TAIWANChicony Electronics Co Ltd 4,716,104 10,898,037 1.06Chunghwa Telecom Co Ltd 3,916,541 12,374,764 1.21Far EasTone Telecommunications Co Ltd 4,980,000 12,547,968 1.23Feng TAY Enterprise Co Ltd 7,884,240 16,585,490 1.62Lite-On Technology Corp 7,655,362 12,982,983 1.27Richtek Technology Corp 2,855,000 12,856,052 1.26Taiwan Cement Corp 11,081,000 14,608,267 1.43Taiwan Mobile Co Ltd 3,354,000 12,076,833 1.18TXC Corp 9,577,000 12,889,550 1.26

117,819,944 11.52

THAILANDAdvanced Info Service PCL 1,146,600 8,566,550 0.84Delta Electronics Thailand PCL 11,107,600 15,139,666 1.48Kiatnakin Bank PCL 4,127,500 5,048,781 0.49MCOT PCL 9,428,400 9,043,236 0.88Thai Tap Water Supply PCL 40,836,900 12,305,618 1.20

50,103,851 4.89

UNITED KINGDOMHSBC Holdings Plc 2,185,200 23,097,531 2.26


BONDSAUSTRALIAMacquarie Group Ltd 7.3% USD 01/08/2014 2,000,000 2,108,313 0.21Macquarie Group Ltd 7.625% USD 13/08/2019 4,000,000 4,695,968 0.46National Australia Bank Ltd FRN USD Perpetual 2,000,000 2,210,049 0.22

9,014,330 0.89

BERMUDANoble Group Ltd 6.75% USD 29/01/2020 2,000,000 2,010,000 0.20

CANADAHarvest Operations Corp 2.125% USD 14/05/2018 3,000,000 2,875,377 0.28

CAYMAN ISLANDSAgile Property Holdings Ltd 10% USD 14/11/2016 2,000,000 2,127,500 0.21Champion MTN Ltd 3.75% USD 17/01/2023 3,000,000 2,548,248 0.25China Overseas Finance Cayman II Ltd 5.5% USD 10/11/2020 1,000,000 1,035,663 0.10Country Garden Holdings Co Ltd 11.125% USD 23/02/2018 7,500,000 8,343,750 0.82Country Garden Holdings Co Ltd 11.25% USD 22/04/2017 1,500,000 1,644,375 0.16Evergrande Real Estate Group Ltd 9.25% CNY 19/01/2016 6,000,000 986,004 0.10Hutchison Whampoa Finance CI Ltd 7.45% USD 01/08/2017 1,000,000 1,185,853 0.12Hutchison Whampoa International 03/33 Ltd 7.45% USD 24/11/2033 1,000,000 1,275,704 0.12Hutchison Whampoa International 09 Ltd 7.625% USD 09/04/2019 3,500,000 4,246,011 0.41Hutchison Whampoa International 10 Ltd FRN USD Perpetual 4,000,000 4,220,000 0.41Hutchison Whampoa International 11 Ltd 4.625% USD 13/01/2022 3,300,000 3,392,707 0.33Longfor Properties Co Ltd 6.75% USD 29/01/2023 3,500,000 3,194,742 0.31OZ Wing Cayman II Ltd FRN USD 27/02/2017 1,438,640 1,440,438 0.14



101 Invesco Funds


CAYMAN ISLANDS (continued)PHBS Ltd 6.625% USD Perpetual 9,000,000 8,714,877 0.85Shimao Property Holdings Ltd 6.625% USD 14/01/2020 3,750,000 3,495,192 0.34Shimao Property Holdings Ltd 11% USD 08/03/2018 4,400,000 4,936,222 0.48Sun Hung Kai Properties Capital Market Ltd 4.5% USD 14/02/2022 3,000,000 2,966,797 0.29Swire Pacific MTN Financing Ltd 4.5% USD 28/02/2022 1,000,000 1,002,034 0.10Swire Pacific MTN Financing Ltd 6.25% USD 18/04/2018 2,000,000 2,277,841 0.22Tencent Holdings Ltd 3.375% USD 05/03/2018 2,000,000 2,009,806 0.20

61,043,764 5.96

HONG KONGAIA Group Ltd 3.125% USD 13/03/2023 7,000,000 6,375,925 0.62Bank of China Hong Kong Ltd 5.55% USD 11/02/2020 4,000,000 4,281,608 0.42Bank of East Asia Ltd 6.125% USD 16/07/2020 3,500,000 3,803,463 0.37Bank of East Asia Ltd FRN USD 04/05/2022 2,000,000 2,172,502 0.21Bank of East Asia Ltd FRN USD Perpetual 2,000,000 2,239,677 0.22Standard Chartered Bank Hong Kong Ltd 5.875% USD 24/06/2020 3,500,000 3,797,645 0.37Swire Properties MTN Financing Ltd 4.375% USD 18/06/2022 2,000,000 1,973,992 0.19

24,644,812 2.40

INDIAExport-Import Bank of India 4% USD 14/01/2023 750,000 607,497 0.06ICICI Bank Ltd FRN USD Perpetual 4,000,000 3,760,000 0.37State Bank of India 4.5% USD 27/07/2015 1,000,000 1,025,094 0.10

5,392,591 0.53

INDONESIAIndonesia Government International Bond 3.375% USD 15/04/2023 750,000 604,576 0.06Indonesia Government International Bond 4.625% USD 15/04/2043 750,000 547,500 0.05Indonesia Government International Bond 8.5% USD 12/10/2035 8,000,000 9,220,000 0.90Indonesia Government International Bond 10.375% USD 04/05/2014 1,000,000 1,051,274 0.10Indonesia Government International Bond 11.625% USD 04/03/2019 3,000,000 3,862,500 0.38Pertamina Persero PT 4.3% USD 20/05/2023 1,800,000 1,467,000 0.14Pertamina Persero PT 5.25% USD 23/05/2021 3,000,000 2,700,000 0.26Pertamina Persero PT 5.625% USD 20/05/2043 5,600,000 4,144,000 0.40Pertamina Persero PT 6% USD 03/05/2042 1,100,000 849,750 0.08Pertamina Persero PT 6.5% USD 27/05/2041 2,000,000 1,670,000 0.16

26,116,600 2.53

MALAYSIAAxiata SPV1 Labuan Ltd 5.375% USD 28/04/2020 2,000,000 2,114,240 0.21Malayan Banking Bhd FRN USD 20/09/2022 2,000,000 1,910,529 0.19Petronas Capital Ltd 5.25% USD 12/08/2019 2,000,000 2,175,028 0.21Petronas Capital Ltd 7.875% USD 22/05/2022 2,000,000 2,501,474 0.24

8,701,271 0.85

MONGOLIAMongolia Government International Bond 5.125% USD 05/12/2022 1,600,000 1,272,000 0.12

NETHERLANDSMajapahit Holding BV 7.75% USD 17/10/2016 2,000,000 2,182,500 0.21Majapahit Holding BV 8% USD 07/08/2019 4,000,000 4,320,000 0.42

6,502,500 0.63

PHILIPPINESPhilippine Government International Bond 9.5% USD 02/02/2030 5,700,000 8,161,830 0.80Philippine Government International Bond 9.875% USD 15/01/2019 1,000,000 1,317,550 0.13Philippine Government International Bond 10.625% USD 16/03/2025 7,000,000 10,543,750 1.03

20,023,130 1.96

SINGAPOREBumi Capital Pte Ltd 12% USD 10/11/2016 1,000,000 562,500 0.06CapitaLand Ltd 4.076% USD 20/09/2022 6,000,000 5,555,109 0.54DBS Bank Ltd FRN USD 21/09/2022 6,000,000 6,095,778 0.60

12,213,387 1.20



102 Invesco Funds




SOUTH KOREAExport-Import Bank of Korea 4.125% USD 09/09/2015 3,000,000 3,175,491 0.31Kookmin Bank 7.25% USD 14/05/2014 1,000,000 1,042,971 0.10Korea Development Bank 4.375% USD 10/08/2015 4,000,000 4,241,616 0.41Korea Gas Corp 4.25% USD 02/11/2020 1,000,000 1,035,942 0.10Korea Hydro & Nuclear Power Co Ltd 4.75% USD 13/07/2021 2,000,000 2,096,140 0.20Korea Hydro & Nuclear Power Co Ltd 6.25% USD 17/06/2014 2,000,000 2,081,954 0.20Korea National Oil Corp 5.375% USD 30/07/2014 3,000,000 3,114,921 0.30Korea South-East Power Co Ltd 6% USD 25/05/2016 1,000,000 1,105,467 0.11KT Corp 4.875% USD 15/07/2015 2,000,000 2,136,260 0.21National Agricultural Cooperative Federation 5% USD 30/09/2014 500,000 520,384 0.05POSCO 8.75% USD 26/03/2014 3,000,000 3,126,672 0.31Republic of Korea 7.125% USD 16/04/2019 3,500,000 4,240,011 0.41Shinhan Bank FRN USD 02/03/2035 3,000,000 3,132,706 0.31Shinhan Bank FRN USD 20/09/2036 1,000,000 1,084,148 0.11Woori Bank Co Ltd 7% USD 02/02/2015 2,200,000 2,367,323 0.23Woori Bank Co Ltd 7.63% USD 14/04/2015 1,000,000 1,080,384 0.11

35,582,390 3.47

THAILANDPTT PCL 5.875% USD 03/08/2035 500,000 492,469 0.05

UNITED KINGDOMBig Will Investments Ltd 10.875% USD 29/04/2016 1,500,000 1,611,310 0.16Cheung Kong Bond Securities 03 Ltd 5.375% USD Perpetual 3,000,000 2,572,500 0.25CITIC Securities Finance 2013 Co Ltd 2.5% USD 03/05/2018 1,750,000 1,655,397 0.16CNOOC Finance 2003 Ltd 5.5% USD 21/05/2033 1,950,000 1,978,706 0.19CNOOC Finance 2011 Ltd 4.25% USD 26/01/2021 2,000,000 2,021,759 0.20CNOOC Finance 2012 Ltd 5% USD 02/05/2042 300,000 287,302 0.03CNPC General Capital Ltd 3.4% USD 16/04/2023 4,000,000 3,648,440 0.36CNPC HK Overseas Capital Ltd 5.95% USD 28/04/2041 2,000,000 2,175,709 0.21Genting Singapore Plc 5.125% SGD Perpetual 5,000,000 3,710,532 0.36Mega Advance Investments Ltd 6.375% USD 12/05/2041 1,500,000 1,669,986 0.16Sinopec Capital 2013 Ltd 1.875% USD 24/04/2018 2,700,000 2,610,538 0.26Sinopec Capital 2013 Ltd 3.125% USD 24/04/2023 5,600,000 5,038,062 0.49Sinopec Capital 2013 Ltd 4.25% USD 24/04/2043 2,700,000 2,245,460 0.22Standard Chartered Bank FRN USD Perpetual 6,000,000 6,450,167 0.63Yuexiu REIT MTN Co 3.1% USD 14/05/2018 3,500,000 3,252,519 0.32

40,928,387 4.00

UNITED STATESCBA Capital Trust II FRN USD Perpetual 2,000,000 2,093,880 0.20Reliance Holdings USA Inc 6.25% USD 19/10/2040 2,000,000 1,796,888 0.18Westpac Capital Trust III FRN USD Perpetual 6,000,000 6,030,000 0.59

9,920,768 0.97

TOTAL BONDS 266,733,776 26.04


OTHER TRANSFERABLE SECURITIESBONDSHONG KONGWheelock Finance Ltd 4.2% HKD 13/09/2022 8,000,000 972,457 0.10

MALAYSIATenaga Nasional Bhd 7.5% USD 01/11/2025 3,500,000 4,172,424 0.41

TOTAL BONDS 5,144,881 0.51




103 Invesco Funds



EQUITIESBELGIUMSolvay SA 20,557 2,186,237 0.37

FINLANDElisa OYJ 206,666 3,337,656 0.57UPM-Kymmene OYJ 531,974 4,916,770 0.83

8,254,426 1.40

FRANCEAXA SA 276,040 4,590,545 0.78BNP Paribas SA 64,632 3,102,174 0.53Cap Gemini SA 71,850 3,026,861 0.52Nexans SA NPV 14,400 1,060,848 0.18

11,780,428 2.01

GERMANYBayerische Motoren Werke AG 42,136 3,017,570 0.51Deutsche Boerse AG 45,991 2,436,143 0.42LEG Immobilien AG 45,783 1,882,940 0.32RTL Group Npv 75,240 5,467,691 0.93

12,804,344 2.18

ITALYAtlantia SpA 350,858 4,840,086 0.82Fondiaria-Sai SpA 953,679 1,389,033 0.24Recordati SpA 358,833 3,083,273 0.53

9,312,392 1.59

NETHERLANDSEuropean Aeronautic Defence and Space Co NV 42,683 1,868,982 0.32Koninklijke Ahold NV 342,446 4,151,302 0.71Reed Elsevier NV 237,906 3,311,057 0.56Ziggo NV 59,357 1,758,154 0.30

11,089,495 1.89

SPAINBanco Bilbao Vizcaya Argentaria SA 217,476 1,588,879 0.27Bankinter SA 961,918 3,357,094 0.57CaixaBank 980,060 2,789,741 0.48Indra Sistemas SA 324,707 3,704,095 0.63Mediaset Espana Comunicacion SA 301,232 2,249,902 0.38Red Electrica Corp SA 121,943 4,835,040 0.82Repsol SA 157,296 2,785,319 0.48

21,310,070 3.63

SWEDENNordea Bank AB 495,444 4,422,301 0.75

SWITZERLANDAdecco SA 111,663 5,373,722 0.91Credit Suisse Group AG 160,098 3,504,940 0.60Novartis AG 86,041 4,741,433 0.81Roche Holding AG 20,152 3,824,407 0.65UBS AG 255,665 3,749,761 0.64

21,194,263 3.61

UNITED KINGDOMEcclesiastical Insurance Group Plc (Preferred) 1,200,000 1,642,188 0.28General Accident Plc (Preferred) 3,000,000 3,723,462 0.63Premier Farnell Plc (Preferred) 30,000 553,250 0.10

5,918,900 1.01

Invesco Pan European High Income Fund


104 Invesco Funds


UNITED STATESGeneral Motors Co 6,002 156,200 0.03Motors Liquidation Co GUC Trust 1,507 34,489 –

190,689 0.03


BONDSAUSTRALIAOrigin Energy Finance Ltd FRN EUR 16/06/2071 3,500,000 3,614,159 0.62

AUSTRIAOMV AG FRN EUR Perpetual 250,000 276,152 0.05Sappi Papier Holding GmbH 6.625% EUR 15/04/2018 700,000 715,673 0.12Telekom Austria AG FRN EUR Perpetual 1,200,000 1,224,970 0.21

2,216,795 0.38

BELGIUMKBC Bank NV 8% EUR Perpetual 6,115,000 6,329,025 1.08

CAYMAN ISLANDSBES Finance Ltd 3.5% USD 06/12/2015 2,700,000 2,048,546 0.35UPCB Finance Ltd 7.625% EUR 15/01/2020 400,000 432,000 0.07

2,480,546 0.42

FINLANDSanitec Corp FRN EUR 15/05/2018 5,292,000 5,321,767 0.91Stora Enso OYJ 5.5% EUR 07/03/2019 500,000 524,291 0.09

5,846,058 1.00

FRANCEAXA SA FRN EUR 16/04/2040 2,850,000 2,968,963 0.51BNP Paribas SA 7.781% FRN EUR Perpetual 1,100,000 1,203,139 0.21BPCE SA FRN EUR Perpetual 1,000,000 1,052,500 0.18BPCE SA 13% USD Perpetual 154,500 131,435 0.02Cegedim SA 6.75% EUR 01/04/2020 2,400,000 2,329,992 0.40CNP Assurances FRN EUR Perpetual 2,444,000 1,566,951 0.27CNP Assurances FRN EUR 14/09/2040 2,000,000 2,109,140 0.36Credit Agricole SA FRN EUR Perpetual 1,200,000 1,313,124 0.22Credit Agricole SA 9.75% USD Perpetual 100,000 79,892 0.01Electricite de France SA FRN EUR Perpetual 1,500,000 1,521,356 0.26Electricite de France SA FRN EUR Perpetual 1,900,000 1,950,148 0.33Groupama SA FRN EUR Perpetual 2,450,000 1,856,169 0.32Groupama SA FRN EUR 27/10/2039 1,250,000 1,203,125 0.21La Financiere Atalian SA 7.25% EUR 15/01/2020 1,600,000 1,568,000 0.27Novalis SAS 6% EUR 15/06/2018 2,000,000 2,060,000 0.35Picard Groupe SAS FRN EUR 01/08/2019 4,400,000 4,485,668 0.76SMCP SAS 8.875% EUR 15/06/2020 2,496,000 2,549,814 0.43Societe Generale SA FRN USD Perpetual 3,571,000 2,709,635 0.46Societe Generale SA FRN GBP Perpetual 100,000 124,741 0.02Societe Generale SA FRN EUR Perpetual 1,000,000 1,136,375 0.19Suez Environnement Co FRN EUR Perpetual 1,000,000 1,033,270 0.18Veolia Environnement SA FRN EUR Perpetual 1,100,000 1,075,566 0.18

36,029,003 6.14

GERMANYALBA Group plc & Co KG 8% EUR 15/05/2018 400,000 398,024 0.07Bundesobligation 0.5% EUR 13/10/2017 10,000,000 9,939,417 1.69Bundesobligation 2% EUR 26/02/2016 10,000,000 10,425,009 1.77Bundesrepublik Deutschland 1.5% EUR 04/09/2022 5,000,000 4,913,459 0.84Bundesrepublik Deutschland 1.5% EUR 15/02/2023 10,000,000 9,739,235 1.66Bundesrepublik Deutschland 1.75% EUR 04/07/2022 10,000,000 10,066,724 1.71Bundesrepublik Deutschland 2% EUR 04/01/2022 10,000,000 10,338,966 1.76Bundesrepublik Deutschland 2.5% EUR 04/07/2044 5,000,000 4,849,894 0.83Commerzbank AG 7.75% EUR 16/03/2021 1,000,000 1,057,087 0.18



105 Invesco Funds


GERMANY (continued)Dresdner Bank AG FRN EUR 26/02/2021 8,000,000 5,484,544 0.93EnBW Energie Baden-Wuerttemberg AG FRN EUR 02/04/2072 2,000,000 2,198,520 0.38Grohe Holding GmbH FRN EUR 15/12/2017 500,000 522,330 0.09KraussMaffei Group GmbH 8.75% EUR 15/12/2020 710,000 759,315 0.13RWE AG FRN EUR Perpetual 2,000,000 2,018,380 0.34Unitymedia Hessen GmbH & Co KG 5.625% EUR 15/04/2023 4,000,000 3,897,680 0.66Unitymedia KabelBW GmbH 9.5% EUR 15/03/2021 200,000 227,548 0.04Unitymedia KabelBW GmbH 9.625% EUR 01/12/2019 300,000 333,618 0.06

77,169,750 13.14

GREECEFAGE Dairy Industry SA 144A 9.875% USD 01/02/2020 500,000 404,097 0.07

IRELANDAG Spring Finance II Ltd 9.5% EUR 01/06/2019 5,000,000 4,925,000 0.84AG Spring Finance Ltd 7.5% EUR 01/06/2018 4,000,000 3,987,660 0.68Aquarius and Investments Plc for Zurich Insurance Co Ltd FRN EUR 02/10/2043 4,000,000 3,884,779 0.66Nara Cable Funding Ltd 8.875% EUR 01/12/2018 1,000,000 1,058,080 0.18Ono Finance II Plc 11.125% EUR 15/07/2019 100,000 106,250 0.02

13,961,769 2.38

ITALYAtlantia SpA 4.5% EUR 08/02/2019 400,000 435,496 0.07Cerved Technologies SpA 6.375% EUR 15/01/2020 710,000 720,934 0.12Cerved Technologies SpA 8% EUR 15/01/2021 1,200,000 1,209,000 0.21Gamenet SpA 7.25% EUR 01/08/2018 2,500,000 2,478,125 0.42Intesa Sanpaolo SpA 5% EUR 28/02/2017 1,500,000 1,592,713 0.27Intesa Sanpaolo SpA FRN EUR Perpetual 3,550,000 3,697,283 0.63Manutencoop Facility Management SpA 8.5% EUR 01/08/2020 3,000,000 2,835,000 0.48Sisal Holding Istituto di Pagamento SPA 7.25% EUR 30/09/2017 1,700,000 1,683,000 0.29TeamSystem Holding SpA 7.375% EUR 15/05/2020 1,350,000 1,329,750 0.23Telecom Italia SpA FRN EUR 20/03/2073 8,000,000 7,882,000 1.34UniCredit SpA 6.125% EUR 19/04/2021 1,000,000 1,027,312 0.18UniCredit SpA 6.95% EUR 31/10/2022 5,000,000 5,163,377 0.88Zobele Holding SpA 7.875% EUR 01/02/2018 3,000,000 3,116,250 0.53

33,170,240 5.65

JAPANSoftbank Corp 4.625% EUR 15/04/2020 3,350,000 3,400,250 0.58

LUXEMBOURGBeverage Packaging Holdings Luxembourg II SA 9.5% EUR 15/06/2017 1,150,000 1,184,500 0.20Bormioli Rocco Holdings SA 10% EUR 01/08/2018 2,160,000 2,343,751 0.40Cirsa Funding Luxembourg SA 8.75% EUR 15/05/2018 750,000 765,938 0.13Elior Finance & Co SCA 6.5% EUR 01/05/2020 750,000 780,135 0.13Fiat Finance & Trade SA 6.75% EUR 14/10/2019 3,500,000 3,620,766 0.62Gategroup Finance Luxembourg SA 6.75% EUR 01/03/2019 600,000 619,800 0.11Gestamp Funding Luxembourg SA 5.875% EUR 31/05/2020 1,600,000 1,580,000 0.27Lecta SA 8.875% EUR 15/05/2019 250,000 238,125 0.04Mark IV Europe Lux SCA 8.875% EUR 15/12/2017 80,000 86,400 0.01Mobile Challenger Intermediate Group SA 8.75% EUR 15/03/2019 3,100,000 3,082,330 0.53S&B Minerals Finance SCA 9.25% EUR 15/08/2020 2,700,000 2,785,995 0.47Takko Luxembourg 2 S.C.A 9.875% EUR 15/04/2019 5,000,000 4,713,950 0.80Telenet Finance V Luxembourg SCA 6.25% EUR 15/08/2022 400,000 403,000 0.07Telenet Finance V Luxembourg SCA 6.75% EUR 15/08/2024 500,000 508,750 0.09UniCredit International Bank Luxembourg SA FRN EUR Perpetual 1,000,000 1,039,226 0.18Wind Acquisition Finance SA 7.375% EUR 15/02/2018 900,000 922,500 0.16Wind Acquisition Finance SA 11.75% EUR 15/07/2017 300,000 314,719 0.05Xefin Lux SCA 8% EUR 01/06/2018 1,000,000 1,075,000 0.18

26,064,885 4.44

NETHERLANDSAchmea BV FRN EUR 04/04/2043 6,600,000 6,891,885 1.17Allianz Finance II BV FRN EUR 08/07/2041 1,500,000 1,649,009 0.28Bite Finance International BV FRN EUR 15/02/2018 1,500,000 1,530,000 0.26



106 Invesco Funds


NETHERLANDS (continued)EDP Finance BV 8.625% GBP 04/01/2024 400,000 531,065 0.09GMAC International Finance BV 7.5% EUR 21/04/2015 1,000,000 1,081,160 0.18Iberdrola International BV FRN EUR Perpetual 2,800,000 2,793,599 0.48ING Groep NV 8% EUR Perpetual 400,000 416,000 0.07Koninklijke KPN NV FRN EUR Perpetual 6,400,000 6,631,680 1.13Koninklijke KPN NV FRN GBP 14/03/2073 570,000 679,093 0.12Nokia Siemens Networks Finance BV 6.75% EUR 15/04/2018 2,100,000 2,178,750 0.37Nokia Siemens Networks Finance BV 7.125% EUR 15/04/2020 1,920,000 1,964,275 0.33OI European Group BV 4.875% EUR 31/03/2021 2,333,000 2,366,315 0.40Pfleiderer Finance BV 7.125% EUR Perpetual 200,000 5,822 –Portugal Telecom International Finance BV 4.625% EUR 08/05/2020 14,200,000 13,325,537 2.27Schaeffler Finance BV 4.25% EUR 15/05/2018 2,500,000 2,513,750 0.43Schaeffler Finance BV 6.75% EUR 01/07/2017 500,000 538,190 0.09TMF Group Holding BV FRN EUR 01/12/2018 748,000 758,285 0.13TMF Group Holding BV 9.875% EUR 01/12/2019 586,000 614,943 0.11

46,469,358 7.91

PORTUGALBanco Espirito Santo SA 4.75% EUR 15/01/2018 2,900,000 2,810,173 0.48

SPAINAbengoa SA 4.5% EUR 03/02/2017 600,000 565,125 0.10Abengoa SA 6.25% EUR 17/01/2019 6,400,000 5,459,200 0.93Abengoa SA 8.5% EUR 31/03/2016 100,000 102,905 0.02Banco Bilbao Vizcaya Argentaria SA FRN USD Perpetual 4,400,000 3,277,265 0.56BBVA International Preferred SAU FRN GBP Perpetual 100,000 118,737 0.02Ence Energia y Celulosa S.A 7.25% EUR 15/02/2020 2,100,000 2,177,826 0.37Gas Natural Capital Markets SA 5.125% EUR 02/11/2021 750,000 815,495 0.14Obrascon Huarte Lain SA 8.75% EUR 15/03/2018 1,000,000 1,093,520 0.18Santander Finance Preferred SAU FRN GBP Perpetual 1,000,000 1,219,955 0.21Santander Issuances SAU FRN GBP 27/07/2019 1,000,000 1,205,105 0.20

16,035,133 2.73

SWEDENEileme 2 AB 11.75% EUR 31/01/2020 850,000 998,750 0.17

SWITZERLANDCredit Suisse AG 6.5% USD 08/08/2023 750,000 570,657 0.10UBS AG FRN EUR Perpetual 8,100,000 8,142,687 1.38

8,713,344 1.48

UNITED ARAB EMIRATESAabar Investments PJSC 4% EUR 27/05/2016 3,000,000 3,309,000 0.56

UNITED KINGDOMAA Bond Co Ltd 9.5% GBP 31/07/2019 1,100,000 1,381,369 0.23Anglian Water Osprey Financing Plc 7% GBP 31/01/2018 1,000,000 1,264,572 0.21Arqiva Broadcast Finance Plc 9.5% GBP 31/03/2020 1,150,000 1,440,227 0.24Avis Budget Finance Plc 6% EUR 01/03/2021 1,300,000 1,337,401 0.23Aviva Plc FRN EUR 05/07/2043 1,194,000 1,239,995 0.21Aviva Plc FRN GBP Perpetual 550,000 634,536 0.11Barclays Bank Plc FRN EUR 22/03/2021 6,830,000 5,546,260 0.94Barclays Bank Plc FRN EUR Perpetual 6,320,000 4,842,131 0.82Barclays Bank Plc 6.625% EUR 30/03/2022 2,000,000 2,248,952 0.38Boparan Finance Plc 9.875% GBP 30/04/2018 500,000 644,727 0.11Care UK Health & Social Care Plc 9.75% GBP 01/08/2017 190,000 224,747 0.04Clerical Medical Finance Plc FRN GBP Perpetual 100,000 107,723 0.02Co-Operative Bank Plc FRN GBP Perpetual 55,000 24,955 –DFS Furniture Holdings Plc FRN GBP 15/08/2018 750,000 889,811 0.15DFS Furniture Holdings Plc 7.625% GBP 15/08/2018 470,000 578,731 0.10Direct Line Insurance Group Plc FRN GBP 27/04/2042 1,000,000 1,397,781 0.24Eco-Bat Finance Plc 7.75% EUR 15/02/2017 400,000 410,000 0.07Enterprise Inns Plc 6.5% GBP 06/12/2018 3,600,000 4,271,856 0.73Equiniti Newco 2 plc FRN GBP 15/12/2018 2,500,000 2,971,159 0.51Equiniti Newco 2 plc 7.125% GBP 15/12/2018 800,000 957,796 0.16



107 Invesco Funds


UNITED KINGDOM (continued)Gala Electric Casinos Plc 11.5% GBP 01/06/2019 500,000 627,895 0.11Gala Group Finance Plc 8.875% GBP 01/09/2018 500,000 627,895 0.11HBOS Plc FRN EUR Perpetual 434,000 321,160 0.05HBOS Sterling Finance Jersey LP FRN GBP Perpetual 1,700,000 2,007,609 0.34HSBC Capital Funding LP FRN EUR Perpetual 12,050,000 12,117,993 2.06LBG Capital No.1 Plc 6.439% EUR 23/05/2020 3,000,000 3,097,500 0.53LBG Capital No.1 Plc 7.375% EUR 12/03/2020 500,000 520,375 0.09LBG Capital No.1 Plc 11.04% GBP 19/03/2020 250,000 340,906 0.06LBG Capital No.2 Plc 6.385% EUR 12/05/2020 3,400,000 3,502,000 0.60LBG Capital No.2 Plc 11.25% GBP 14/09/2023 200,000 272,186 0.05LBG Capital No.2 Plc 11.875% GBP 01/09/2024 200,000 284,529 0.05LBG Capital No.2 Plc 16.125% GBP 10/12/2024 200,000 337,258 0.06Marks & Spencer Plc 7.125% USD 01/12/2037 4,000,000 3,033,808 0.52Matalan Finance Plc 8.875% GBP 29/04/2016 400,000 481,240 0.08Nationwide Building Society 6.75% EUR 22/07/2020 1,000,000 1,112,886 0.19NGG Finance Plc FRN EUR 18/06/2076 3,400,000 3,378,580 0.58Odeon & UCI Finco Plc 9% GBP 01/08/2018 1,000,000 1,211,882 0.21Pearl Group Holdings No 1 Ltd 6.586% GBP Perpetual 85,000 83,602 0.01Peel Land & Property Investments Plc 8.375% GBP 30/04/2040 100,000 132,199 0.02Pipe Holdings Plc 9.5% GBP 01/11/2015 2,000,000 2,486,289 0.42Rexam Plc FRN EUR 29/06/2067 100,000 104,546 0.02Royal Bank of Scotland Plc FRN EUR 14/06/2022 10,000,000 7,768,600 1.32Royal Bank of Scotland Plc FRN EUR 22/09/2021 5,000,000 4,610,054 0.78Royal Bank of Scotland Plc FRN EUR 23/02/2045 300,000 280,496 0.05Southern Water Greensands Financing Plc 8.5% GBP 15/04/2019 1,000,000 1,273,354 0.22SSE Plc 5.025% FRN EUR Perpetual 1,000,000 1,043,138 0.18Thames Water Kemble Finance Plc 7.75% GBP 01/04/2019 1,000,000 1,273,861 0.22Vedanta Resources Plc 144A 8.25% USD 07/06/2021 1,000,000 713,307 0.12

85,459,877 14.55

UNITED STATESBelden Inc 5.5% EUR 15/04/2023 1,800,000 1,735,074 0.29Chrysler Group LLC 8% USD 15/06/2019 500,000 412,123 0.07Iron Mountain Inc 6% USD 15/08/2023 2,100,000 1,578,245 0.27Iron Mountain Inc 6.75% EUR 15/10/2018 2,415,000 2,452,528 0.42JPMorgan Chase & Co 2.75% EUR 24/08/2022 1,500,000 1,512,709 0.26KBC Bank Funding Trust IV FRN EUR Perpetual 2,000,000 1,746,012 0.30Levi Strauss & Co 7.75% EUR 15/05/2018 1,500,000 1,605,650 0.27Peabody Energy Corp 4.75% USD 15/12/2041 500,000 294,812 0.05Virgin Media Finance Plc 7% GBP 15/04/2023 2,000,000 2,371,072 0.40

13,708,225 2.33

TOTAL BONDS 388,190,437 66.11

WARRANTSUNITED STATESGeneral Motors Co WTS 10/07/2016 5,456 103,088 0.02General Motors Co WTS 10/07/2019 5,456 71,994 0.01

175,082 0.03

TOTAL WARRANTS 175,082 0.03

TOTAL TRANSFERABLE SECURITIES ADMITTED TO AN OFFICIAL STOCKEXCHANGE LISTING OR DEALT IN ON ANOTHER REGULATED MARKET 496,829,064 84.61

OTHER TRANSFERABLE SECURITIESBONDSITALYBeni Stabili SpA 3.375% EUR 17/01/2018 1,000,000 1,063,534 0.18

LUXEMBOURGM&G Finance Luxembourg SA 7.5% EUR Perpetual 100,000 32,500 0.01

UNITED KINGDOMAlgeco Scotsman Global Finance Plc 9% EUR 15/10/2018 1,000,000 1,037,500 0.18



108 Invesco Funds


UNITED STATESJarden Corp 7.5% EUR 15/01/2020 500,000 528,750 0.09KBC Bank Funding Trust III FRN USD Perpetual 1,000,000 664,683 0.11

1,193,433 0.20

TOTAL BONDS 3,326,967 0.57






109 Invesco Funds


OPEN-ENDED FUNDSIRELANDShort-Term Investments Co Global Series - Euro Liquidity Portfolio 5,000,000 5,000,000 9.32




Invesco Global Absolute Return Fund


110 Invesco Funds



BONDSFRANCECredit Agricole SA 0% EUR 21/02/2014 120,000,000 120,000,000 3.06

GERMANYBundesobligation 2.25% EUR 11/04/2014 200,000,000 202,596,380 5.17Bundesobligation 4% EUR 11/10/2013 180,000,000 180,716,310 4.61Bundesrepublik Deutschland 4.25% EUR 04/01/2014 120,000,000 121,703,244 3.11Bundesrepublik Deutschland 4.25% EUR 04/07/2014 100,000,000 103,433,075 2.64Bundesschatzanweisungen 0% EUR 13/06/2014 120,000,000 119,890,356 3.06Bundesschatzanweisungen 0.25% EUR 13/12/2013 180,000,000 180,105,138 4.60Bundesschatzanweisungen 0.25% EUR 14/03/2014 230,000,000 230,227,688 5.88Bundesschatzanweisungen 0.75% EUR 13/09/2013 145,000,000 145,019,300 3.70German Treasury Bill 0% EUR 25/09/2013 160,000,000 160,028,976 4.09German Treasury Bill 0% EUR 16/10/2013 50,000,000 49,997,798 1.28German Treasury Bill 0% EUR 27/11/2013 130,000,000 129,998,570 3.32German Treasury Bill 0% EUR 29/01/2014 220,000,000 220,006,016 5.62German Treasury Bill 0% EUR 26/02/2014 200,000,000 199,983,340 5.11German Treasury Bill 0% EUR 26/03/2014 170,000,000 169,980,272 4.34

2,213,686,463 56.53

UNITED STATESCanadian Imperial Bank of Commerce 0% USD 04/04/2014 245,200,000 191,224,088 4.89JP Morgan Structured Products BV 0% USD 11/03/2014 197,500,000 150,013,698 3.83

341,237,786 8.72

TOTAL BONDS 2,674,924,249 68.31

CERTIFICATESGERMANYRICI Enhanced Agriculture ETC 1,060,000 118,799,500 3.03RICI Enhanced Brent Crude ETC 1,150,000 122,946,500 3.14RICI Enhanced WTI Crude Index 1,370,000 124,622,050 3.19

366,368,050 9.36

SWITZERLANDUBS ETC Brent Crude - USD 53,800 67,598,514 1.73UBS ETC WTI Crude Oil - USD 3,500 3,578,149 0.09

71,176,663 1.82

UNITED KINGDOMETFS Aluminium 15,000,000 40,566,451 1.04ETFS Copper 1,400,000 35,435,171 0.90ETFS Physical Silver 7,550,000 130,819,486 3.34Gold Bullion Securities Ltd 2,135,000 216,807,654 5.53

423,628,762 10.81

TOTAL CERTIFICATES 861,173,475 21.99


OTHER TRANSFERABLE SECURITIESBONDSBarclays 0% EUR 23/11/2013 185,000,000 185,000,000 4.72

TOTAL BONDS 185,000,000 4.72




Invesco Balanced-Risk Allocation Fund


Invesco Invesco Invesco Invesco Invesco

Global Emerging Global Global Latin Invesco

Structured Market Smaller Equity American US Structured

Equity Quantitative Companies Income Equity Equity

Fund Equity Fund Equity Fund Fund Fund Fund

Notes USD USD USD USD USD USD

ASSETS

Investments at market value 2(b) 125,658,503 75,050,556 98,473,395 281,073,843 6,527,451 98,849,368

CURRENT ASSETS

Due from brokers – 1,130,498 1,218,073 2,243,717 – –

Receivable for Shares issued 478 5,029,126 221,031 2,045,094 363 311,593

Other debtors 488,904 186,842 131,787 1,052,535 184,938 197,115

Bank balances 11,437,292 592,924 90,890 1,477,464 47,856 4,437,586

Margin Accounts 2(n) – – – – – –

Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) 961,833 144,923 20,381 4,273 2,240 42,257

Unrealised gain on equity swaps 11&2(m) – – – – – –

Unrealised gain on credit default swaps 9&2(k) – – – – – –

Total Assets 138,547,010 82,134,869 100,155,557 287,896,926 6,762,848 103,837,919

CURRENT LIABILITIES

Bank overdraft – 1,457,751 74,585 – – –

Due to brokers – 769,691 1,543,359 1,107,751 12,990 –

Payable for Shares redeemed 173,428 203,164 93,098 593,237 9,141 3,211,538

Other creditors 166,142 102,765 179,172 406,908 49,143 155,253

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) 247,106 7,854 928 2,506 262 12,669

Unrealised loss on equity swaps 11&2(m) – – – – – –

Unrealised loss on credit default swaps 9&2(k) – – – – – –

Total Liabilities 586,676 2,541,225 1,891,142 2,110,402 71,536 3,379,460

Net Assets 137,960,334 79,593,644 98,264,415 285,786,524 6,691,312 100,458,459

The accompanying notes form an integral part of the financial statements.

111 Invesco Funds

Invesco FundsStatement of Net Assets as at 31 August 2013

112 Invesco Funds


Invesco Invesco Invesco

Invesco Invesco Pan European Invesco Pan European European

US Value US Structured Pan European Small Cap Growth

Equity Equity Equity Equity Equity Equity

Fund Fund Fund Fund Fund Fund

Notes USD USD EUR EUR EUR EUR

ASSETS

Investments at market value 2(b) 173,266,878 5,532,892 1,549,584,435 1,138,733,958 131,447,584 60,206,974

CURRENT ASSETS

Due from brokers – – – – 1,300,642 1,035,637

Receivable for Shares issued 3,668 – 631,059 5,839,556 – 50,826

Other debtors 333,035 104,512 4,797,870 3,307,273 106,515 197,283

Bank balances 8,065,985 432,998 64,398,415 11,649,860 10,327,298 9,458,424


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) 43,423 7,019 – – – –



Total Assets 181,712,989 6,077,421 1,619,411,779 1,159,530,647 143,182,039 70,949,144

CURRENT LIABILITIES

Bank overdraft – – – – – –

Due to brokers 103,453 22,955 – 10,097,635 3,023,961 148,791

Payable for Shares redeemed 1,732,241 – 7,161,945 162,447 4,634,683 992,797

Other creditors 275,316 58,864 2,136,206 1,748,114 248,527 135,887

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) 24,577 512 663,447 – – –



Total Liabilities 2,135,587 82,331 9,961,598 12,008,196 7,907,171 1,277,475

Net Assets 179,577,402 5,995,090 1,609,450,181 1,147,522,451 135,274,868 69,671,669


113 Invesco Funds


Invesco Invesco Invesco Invesco Invesco Invesco

Pan European Emerging Pan European Nippon Japanese Japanese

Equity Europe Focus Small/Mid Cap Equity Value

Income Equity Equity Equity Advantage Equity


Notes EUR USD EUR JPY JPY JPY

ASSETS

Investments at market value 2(b) 15,997,270 25,439,806 6,533,694 15,408,560,250 82,121,904,600 14,712,513,000

CURRENT ASSETS

Due from brokers – 51,281 – 79,542,854 354,438,514 –

Receivable for Shares issued 181,016 426 38,609 163,022,749 4,531,639,338 81,420,163

Other debtors 124,679 233,949 113,084 22,081,885 9,891,504 9,711,704

Bank balances 1,115,945 341,862 289,224 865,937,142 4,302,524,469 110,273,471


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) – – – – – 275,617



Total Assets 17,418,910 26,067,324 6,974,611 16,539,144,880 91,320,398,425 14,914,193,955

CURRENT LIABILITIES

Bank overdraft – 45,490 – 205,926 166 157,899

Due to brokers 690,941 – 169,131 101,548,933 6,244,905,366 29,220,391

Payable for Shares redeemed 429,339 266,616 – 78,031,873 10,818,170 34,841,974

Other creditors 24,576 90,049 34,530 34,548,459 104,671,776 26,131,367

Unrealised loss on forward foreignexchange contracts/future contracts 7,8,2(i)&2(j) – – – – – 51,737,950



Total Liabilities 1,144,856 402,155 203,661 214,335,191 6,360,395,478 142,089,581

Net Assets 16,274,054 25,665,169 6,770,950 16,324,809,689 84,960,002,947 14,772,104,374


114 Invesco Funds



Asia Greater Invesco Invesco Asia Invesco

Opportunities China Asia India Consumer China Focus

Equity Equity Infrastructure Equity Demand Equity



ASSETS

Investments at market value 2(b) 128,451,449 1,268,455,937 1,023,825,323 90,276,697 658,153,905 35,373,808

CURRENT ASSETS

Due from brokers 125,004 9,754,881 64,562 150,478 2,911,074 1,402,304

Receivable for Shares issued – 215,454 – 5,599 3,831 239,792

Other debtors 260,936 2,882,893 4,803,493 35,501 986,762 161,819

Bank balances 2,828,377 19,407,725 16,139,317 5,399,596 6,819,296 483,247


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) – 29,185 75,675 – 289,887 –



Total Assets 131,665,766 1,300,746,075 1,044,908,370 95,867,871 669,164,755 37,660,970

CURRENT LIABILITIES

Bank overdraft – – – – – 264

Due to brokers – 17,138,737 – 718,867 – 1,306,143

Payable for Shares redeemed 41,375 993,080 3,573,159 310,077 1,578,587 –

Other creditors 433,823 2,119,730 7,028,503 296,528 1,357,985 104,650

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) – 7,036 3,555 – 27,185 –



Total Liabilities 475,198 20,258,583 10,605,217 1,325,472 2,963,757 1,411,057

Net Assets 131,190,568 1,280,487,492 1,034,303,153 94,542,399 666,200,998 36,249,913



115 Invesco Funds

Invesco Invesco

Invesco Invesco Global Income Gold &

Asian Focus Global Invesco Real Estate Precious Invesco

Equity Leisure Energy Securities Metals USD Reserve



ASSETS


CURRENT ASSETS

Due from brokers 1,512 – 1,835,252 1,104 – –

Receivable for Shares issued – 354,840 85,166 3,660 213,967 874,250

Other debtors 85,793 84,017 303,049 114,338 138,991 49,401

Bank balances 321,770 8,086,365 4,991,356 306,982 840,308 33,959,031


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) – – 29,031 – 17,541 –



Total Assets 4,055,262 137,517,947 193,175,084 16,270,514 14,659,652 111,313,115

CURRENT LIABILITIES

Bank overdraft – 127 – 152,868 – 2,935,636

Due to brokers – 3,245,915 275,040 – – –

Payable for Shares redeemed – 1,029,534 252,520 68,261 377,505 91,759

Other creditors 63,361 246,597 394,345 31,993 59,269 86,196

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) – – 3,498 – 9,915 –



Total Liabilities 63,361 4,522,173 925,403 253,122 446,689 3,113,591

Net Assets 3,991,901 132,995,774 192,249,681 16,017,392 14,212,963 108,199,524



116 Invesco Funds


Invesco Invesco Invesco Absolute Euro Euro

Euro Global European Return Inflation-Linked Corporate

Reserve Bond Bond Bond Bond Bond


Notes EUR USD EUR EUR EUR EUR

ASSETS

Investments at market value 2(b) 224,962,189 116,665,390 162,905,669 9,646,650 20,190,712 3,285,232,448

CURRENT ASSETS

Due from brokers – – – – – –

Receivable for Shares issued 23,279,693 438,239 51,594 – – 807,480

Other debtors 96,125 1,296,880 2,317,119 128,547 64,512 64,808,464

Bank balances 107,145,828 24,793,522 8,038,618 794,827 659,843 214,714,707


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) – 469,730 270,924 413,608 – 9,279,929


Unrealised gain on credit default swaps 9&2(k) – – – – – 1,598,092

Total Assets 355,483,835 143,663,761 173,583,924 10,983,632 20,915,067 3,576,441,120

CURRENT LIABILITIES

Bank overdraft – – – – – –

Due to brokers – – – 151,064 – –


Other creditors 164,198 171,529 215,691 36,979 50,047 4,360,302

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) – 944,866 238,739 285,292 510 –


Unrealised loss on credit default swaps 9&2(k) – – – – – 1,039,551

Total Liabilities 1,104,269 1,156,869 624,393 494,655 82,394 17,551,770

Net Assets 354,379,566 142,506,892 172,959,531 10,488,977 20,832,673 3,558,889,350



Invesco Invesco Invesco Invesco Invesco

Invesco Emerging Local Global Global Global Total Emerging Market

UK Investment Currencies Investment Grade Unconstrained Return (EUR) Corporate

Grade Bond Debt Corporate Bond Bond Bond Bond


Notes GBP USD USD GBP EUR USD

ASSETS


CURRENT ASSETS

Due from brokers 682,552 2,977,845 661,307 61,664 – –

Receivable for Shares issued 200 3,108 – – 34,816 6,295

Other debtors 668,071 18,795,904 1,130,920 144,386 1,829,792 2,760,339

Bank balances 841,834 7,145,259 1,501,684 1,073,099 12,099,219 8,003,046

Margin Accounts 2(n) – – 130,000 – – –

Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) 120,887 1,380,625 138,455 25,540 159,642 193,007


Unrealised gain on credit default swaps 9&2(k) – – 23,687 – – –

Total Assets 55,601,210 946,877,656 48,311,727 4,104,220 152,371,391 185,844,214

CURRENT LIABILITIES

Bank overdraft – 4,277,312 19 – 2,215,491 –

Due to brokers 1,064,905 – 656,760 – 1,079,355 602,305

Payable for Shares redeemed 282,643 9,374,209 125,110 – 47,394 889,666

Other creditors 70,379 1,954,121 146,411 35,648 233,686 445,963

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) 5,570 3,348,016 541,050 31,820 86,330 42,610


Unrealised loss on credit default swaps 9&2(k) – – 126,776 12,508 236,202 –

Total Liabilities 1,423,497 18,953,658 1,596,126 79,976 3,898,458 1,980,544

Net Assets 54,177,713 927,923,998 46,715,601 4,024,244 148,472,933 183,863,670


117 Invesco Funds



Invesco Invesco US High Renminbi Capital Invesco

Euro Short Asian Yield Fixed Shield Asia

Term Bond Bond Bond Income 90 (EUR) Balanced


Notes EUR USD USD USD EUR USD

ASSETS


CURRENT ASSETS

Due from brokers 499,500 – – – – –

Receivable for Shares issued 36,921 – 43,231 – 29,948 201,161

Other debtors 584,645 515,715 1,313,585 502,988 15,532 9,605,144

Bank balances 1,394,606 961,566 1,256,528 5,164,171 35,195,276 33,169,127


Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) 25,460 3,384 84,965 – 166,602 105,853



Total Assets 36,608,045 24,320,038 68,773,127 49,943,557 96,247,222 1,030,141,653

CURRENT LIABILITIES

Bank overdraft – – 49 – – –

Due to brokers 996,588 – 108,250 – – –


Other creditors 78,343 58,337 123,486 102,256 146,402 1,734,718

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) 41,476 – 24,721 – 651,178 445,188



Total Liabilities 1,131,017 99,418 308,591 272,180 850,918 6,593,417

Net Assets 35,477,028 24,220,620 68,464,536 49,671,377 95,396,304 1,023,548,236


118 Invesco Funds


Invesco Invesco

Pan European Global Invesco 31.08.13

High Absolute Balanced-Risk Consolidated-

Income Return Allocation Net Assets

Fund Fund Fund USD Equiv.

Notes EUR EUR EUR USD

ASSETS

Investments at market value 2(b) 500,156,031 5,000,000 3,721,097,724 22,770,827,250

CURRENT ASSETS

Due from brokers – 2,348 – 33,858,904

Receivable for Shares issued 5,599,970 3,008 667,794 108,250,623

Other debtors 7,804,184 43,390 13,789,124 182,989,856

Bank balances 79,902,110 49,288,685 189,500,050 1,319,041,776

Margin Accounts 2(n) – – – 130,000

Unrealised gain on forward foreign exchange contracts/futures contracts 7,8,2(i)&2(j) 326,619 340,578 52,146,323 87,853,529

Unrealised gain on equity swaps 11&2(m) – 2,365,616 – 3,131,938

Unrealised gain on credit default swaps 9&2(k) – – – 2,139,468

Total Assets 593,788,914 57,043,625 3,977,201,015 24,508,223,344

CURRENT LIABILITIES

Bank overdraft – 2,402 – 11,884,169

Due to brokers 5,205,979 73,730 – 122,826,536

Payable for Shares redeemed – 31,028 6,008,779 74,895,409

Other creditors 936,510 134,878 6,075,906 42,481,691

Unrealised loss on forward foreign exchange contracts/future contracts 7,8,2(i)&2(j) 490,955 14,570 49,136,301 74,605,868

Unrealised loss on equity swaps 11&2(m) – 3,125,807 – 4,138,387

Unrealised loss on credit default swaps 9&2(k) – – – 1,835,189

Total Liabilities 6,633,444 3,382,415 61,220,986 332,667,249

Net Assets 587,155,470 53,661,210 3,915,980,029 24,175,556,095


119 Invesco Funds

120 Invesco Funds

Ccy 31 August 2013 Number of Shares NAV per SharesTotal NAV in in issue in share class

sub-fund currency currencyTotal

Invesco Global Structured Equity Fund (USD)Distribution A AD USD 31,153,949 853,739 36.49Accumulation A Hedg (EUR) EUR 6,369,045 171,813 28.00Distribution C AD USD 26,639,444 696,077 38.27Accumulation C Hedg (EUR) EUR 25,439,939 647,570 29.67Accumulation C Hedg (GBP) GBP 5,239,100 129,459 26.11Accumulation E EUR 12,029,936 314,145 28.92Accumulation I EUR 31,088,921 2,082,398 11.28

Invesco Emerging Market Quantitative Equity Fund (USD)Accumulation A USD 7,046,086 664,772 10.60Accumulation A Hedg (EUR) EUR 4,033,567 368,615 8.27Accumulation C USD 23,858,440 2,208,685 10.80Accumulation C Hedg (EUR) EUR 14,199,002 1,274,277 8.42Accumulation C Hedg (GBP) GBP 72,064 6,505 7.15Accumulation E EUR 2,038,790 195,480 7.88Accumulation I EUR 28,338,648 2,545,100 8.41Accumulation Z EUR 7,047 523 10.18

Invesco Global Smaller Companies Equity Fund (USD)Distribution A SD USD 674,484 14,182 47.56Accumulation A USD 47,344,213 991,916 47.73Accumulation A Hedg (EUR) EUR 7,671,876 411,245 14.09Accumulation C USD 38,177,396 716,668 53.27Accumulation E EUR 2,216,757 115,777 14.46Accumulation R USD 2,172,789 52,207 41.62Accumulation Z USD 6,900 700 9.86

Invesco Global Equity Income Fund (USD)*Distribution A SD USD 31,881,535 2,362,381 13.50Accumulation A USD 140,655,851 2,647,680 53.12Accumulation A Hedg (EUR) EUR 1,910,521 112,716 12.80Accumulation C USD 91,538,338 1,543,877 59.29Accumulation E EUR 6,065,481 346,815 13.21Accumulation R USD 13,714,131 302,178 45.38Distribution Z AD EUR 6,891 523 9.95Distribution Z SD USD 6,888 700 9.84Accumulation Z USD 6,888 700 9.84

Invesco Latin American Equity Fund (USD)Accumulation A USD 3,925,398 439,025 8.94Accumulation A Hedg (EUR) EUR 383,464 43,465 6.66Accumulation C USD 401,855 44,164 9.10Accumulation C Hedg (EUR) EUR 26,610 2,964 6.78Accumulation E EUR 1,947,160 222,612 6.61Accumulation Z USD 6,825 700 9.75

Invesco US Structured Equity Fund (USD)Accumulation A USD 52,055,129 2,900,166 17.95Accumulation A Hedg (EUR) EUR 3,838,502 296,215 9.79Accumulation B USD 1,165,104 71,826 16.22Accumulation C USD 30,008,240 1,592,031 18.85Accumulation C Hedg (EUR) EUR 5,676,690 416,520 10.29Accumulation E EUR 7,705,793 463,271 12.56Accumulation I EUR 2,082 111 14.16Accumulation Z USD 6,919 700 9.88

Invesco US Value Equity Fund (USD)Distribution A SD USD 1,690,086 64,354 26.26Accumulation A USD 99,484,701 3,622,721 27.46Distribution C SD USD 19,543,081 747,687 26.14Accumulation C USD 51,745,100 1,681,049 30.78Accumulation E EUR 1,653,998 90,347 13.83Accumulation R USD 5,460,436 232,457 23.49

Invesco US Equity Fund (USD)Distribution A AD USD 36,471 2,897 12.59Distribution A AD Hedg (EUR) EUR 92,895 5,606 12.52Accumulation A Hedg (EUR) EUR 185,971 11,225 12.51Accumulation C USD 4,382,575 345,915 12.67Accumulation E Hedg (EUR) EUR 1,029,204 62,665 12.41Distribution Z AD EUR 6,897 523 9.96Accumulation R Hedg (EUR) EUR 261,077 15,882 12.42

Invesco Funds

Net Asset Values for the period ended 31 August 2013

121 Invesco Funds



Invesco Pan European Structured Equity Fund (EUR)Distribution A AD EUR 29,657,114 2,519,359 11.77Accumulation A EUR 869,399,826 71,058,550 12.23Accumulation B EUR 7,651,383 686,942 11.14Accumulation C EUR 603,331,985 46,306,305 13.03Accumulation E EUR 92,312,879 8,489,953 10.87Accumulation R EUR 7,091,822 566,125 12.53Distribution Z AD EUR 5,172 523 9.89

Invesco Pan European Equity Fund (EUR)Distribution A AD EUR 31,815,495 2,318,987 13.72Distribution A AD (USD) USD 10,747,757 771,213 18.45Accumulation A EUR 405,671,151 26,785,325 15.15Accumulation B EUR 2,458,600 190,023 12.94Distribution C AD EUR 51,462,902 3,540,434 14.54Accumulation C EUR 568,255,807 34,831,119 16.31Accumulation E EUR 74,630,521 5,260,940 14.19Accumulation I EUR 1,611 99 16.25Accumulation R EUR 2,468,213 199,976 12.34Distribution Z AD EUR 5,198 523 9.94Distribution Z AD (USD) USD 5,196 700 9.83

Invesco Pan European Small Cap Equity Fund (EUR)Distribution A AD (USD) USD 52,948 3,395 20.65Accumulation A EUR 95,864,196 6,094,011 15.73Accumulation B EUR 813,816 59,816 13.61Accumulation C EUR 33,598,908 1,986,319 16.92Accumulation E EUR 4,945,000 347,064 14.25

Invesco European Growth Equity Fund (EUR)Accumulation A EUR 32,422,847 1,729,614 18.75Accumulation C EUR 33,678,495 1,716,456 19.62Accumulation E EUR 3,563,571 203,165 17.54Accumulation I EUR 1,573 78 20.05Distribution Z AD EUR 5,183 523 9.91

Invesco Pan European Equity Income Fund (EUR)*Distribution A SD EUR 7,299,961 730,349 10.00Accumulation A EUR 3,102,943 286,166 10.84Accumulation C EUR 1,815,133 162,058 11.20Accumulation E EUR 4,050,824 388,848 10.42Distribution Z SD EUR 5,193 523 9.93

Invesco Emerging Europe Equity Fund (USD)Accumulation A USD 11,614,457 1,109,530 10.47Accumulation B USD 2,188,688 237,067 9.23Accumulation C USD 3,330,319 297,706 11.19Accumulation E EUR 8,531,705 863,203 7.47

Invesco Pan European Focus Equity Fund (EUR)Distribution A AD EUR 57,179 3,703 15.44Accumulation A EUR 5,046,732 389,438 12.96Accumulation C EUR 12,262 780 15.73Accumulation E EUR 1,192,081 77,218 15.44Accumulation R EUR 462,696 30,074 15.39

Invesco Nippon Small/Mid Cap Equity Fund (JPY)Distribution A AD USD 5,527,561,195 4,752,683 11.84Accumulation A JPY 7,451,297,079 9,070,071 821.53Accumulation B JPY 93,325,486 131,040 712.19Distribution C AD USD 1,131,082,495 962,137 11.97Accumulation C JPY 983,731,479 1,110,100 886.17Accumulation E EUR 1,136,959,074 1,527,398 5.72Accumulation I EUR 180,525 205 6.77Accumulation Z JPY 672,356 683 985.04

Invesco Funds


122 Invesco Funds



Invesco Japanese Equity Advantage Fund (JPY)*Distribution A AD EUR 9,295,271,699 5,621,671 12.72Accumulation A JPY 23,503,376,687 8,740,790 2,688.93Accumulation C JPY 49,194,073,209 17,369,470 2,832.22Accumulation C (GBP) GBP 929,468,692 478,264 12.77Accumulation E EUR 1,560,834,029 965,915 12.43Accumulation R JPY 475,631,521 189,286 2,512.76Accumulation Z (EUR) EUR 674,215 523 9.91Accumulation Z (GBP) GBP 672,895 446 9.91

Invesco Japanese Value Equity Fund (JPY)Distribution A AD USD 197,836,513 227,218 8.86Distribution A SD JPY 41,483,518 48,079 862.82Accumulation A JPY 5,717,368,008 6,532,772 875.18Accumulation A Hedg (EUR) EUR 1,159,738,483 381,975 23.35Distribution C AD USD 670,965 606 11.26Accumulation C JPY 3,466,845,565 3,548,875 976.89Accumulation C Hedg (EUR) EUR 3,154,957,377 1,254,388 19.34Accumulation E (EUR) EUR 71,828,762 49,353 11.19Accumulation R JPY 961,375,183 1,298,734 740.24

Invesco Asia Opportunities Equity Fund (USD)Accumulation A USD 34,833,062 382,328 91.11Accumulation B USD 1,783,875 22,420 79.57Accumulation C USD 86,865,196 884,519 98.21Accumulation E EUR 7,708,435 93,362 62.36

Invesco Greater China Equity Fund (USD)Accumulation A USD 334,587,049 8,246,250 40.57Accumulation A Hedg (EUR) EUR 8,390,041 215,785 29.37Accumulation B USD 4,398,793 126,019 34.91Accumulation C USD 831,949,195 19,040,175 43.69Accumulation C Hedg (EUR) EUR 1,987,360 47,453 31.63Accumulation E EUR 98,191,980 2,662,417 27.86Accumulation R USD 968,898 93,620 10.35Accumulation Z USD 7,087 700 10.12Accumulation Z (EUR) EUR 7,089 523 10.24

Invesco Asia Infrastructure Fund (USD)*Distribution A SD USD 164,605,317 13,158,005 12.51Accumulation A USD 567,930,697 43,459,472 13.07Accumulation A Hedg (EUR) EUR 20,497,518 1,678,872 9.22Accumulation A (HKD) HKD 17,476 1,674 80.95Accumulation C USD 80,246,136 5,875,267 13.66Accumulation C Hedg (EUR) EUR 600,801 46,146 9.83Accumulation E EUR 199,178,938 16,065,485 9.36Accumulation R USD 1,212,321 153,403 7.90Accumulation Z USD 6,973 700 9.96Accumulation Z (EUR) EUR 6,976 523 10.07

Invesco India Equity Fund (USD)Distribution A AD USD 54,597,006 1,850,313 29.51Accumulation A HKD 8,043 955 65.32Distribution C AD USD 25,474,790 783,114 32.53Accumulation E EUR 14,462,560 514,298 21.24

Invesco Asia Consumer Demand Fund (USD)Distribution A SD USD 36,918,130 3,002,555 12.30Accumulation A USD 239,922,176 19,067,361 12.58Accumulation A Hedg (EUR) EUR 36,687,811 3,096,133 8.95Accumulation A (HKD) HKD 53,853 4,467 93.50Accumulation C USD 103,758,250 7,975,159 13.01Accumulation C Hedg (EUR) EUR 49,705,145 4,012,863 9.36Accumulation E EUR 195,818,668 16,190,224 9.14Accumulation R USD 3,322,850 348,479 9.54Accumulation Z USD 7,056 700 10.08Accumulation Z (EUR) EUR 7,059 523 10.19

Invesco Funds


123 Invesco Funds



Invesco China Focus Equity Fund (USD)Accumulation A USD 4,461,174 325,340 13.71Accumulation C USD 27,625,749 1,994,752 13.85Accumulation E EUR 3,626,840 205,367 13.34Accumulation R USD 536,150 39,585 13.54

Invesco Asian Focus Equity Fund (USD)Distribution A AD EUR 11,206 801 10.57Accumulation A USD 224,332 20,028 11.20Accumulation C USD 3,352,195 296,000 11.32Accumulation E EUR 315,845 22,769 10.48Accumulation R USD 88,323 7,950 11.11

Invesco Global Leisure Fund (USD)*Accumulation A USD 95,082,171 3,323,105 28.61Accumulation B USD 4,816,485 197,340 24.41Accumulation C USD 11,694,304 381,859 30.62Accumulation E EUR 21,402,814 825,073 19.59

Invesco Energy Fund (USD)Distribution A AD USD 579,586 21,784 26.61Accumulation A USD 144,087,143 5,419,320 26.59Accumulation A Hedg (EUR) EUR 5,169,087 284,091 13.74Accumulation A (HKD) HKD 5,331 467 88.55Accumulation B USD 1,665,150 71,327 23.35Accumulation C USD 19,911,093 704,131 28.28Accumulation C Hedg (EUR) EUR 1,703,780 87,691 14.68Accumulation E EUR 18,988,449 786,376 18.24Accumulation R USD 140,062 17,045 8.22

Invesco Global Income Real Estate Securities Fund (USD)Distribution A QD USD 7,298,005 845,234 8.63Accumulation A USD 4,088,815 382,883 10.68Accumulation C USD 7,203 647 11.12Accumulation E EUR 4,623,369 485,507 7.19

Invesco Gold & Precious Metals Fund (USD)Accumulation A USD 6,923,110 1,076,597 6.43Accumulation A Hedg (EUR) EUR 3,173,094 476,024 5.03Accumulation A (HKD) HKD 3,267 466 54.38Accumulation C USD 478,952 73,148 6.55Accumulation C Hedg (EUR) EUR 383,254 56,337 5.14Accumulation E EUR 2,507,368 396,497 4.78Accumulation R USD 743,918 149,961 4.96

Invesco USD Reserve Fund (USD)Accumulation A USD 70,660,422 812,048 87.02Accumulation B USD 28,755 376 76.50Accumulation B1 USD 414,091 4,771 86.79Accumulation C USD 15,696,689 174,829 89.78Accumulation E EUR 21,399,567 246,504 65.57

Invesco Euro Reserve Fund (EUR)Distribution A AD EUR 14,340,090 44,450 322.61Accumulation A EUR 108,311,618 335,635 322.71Accumulation B EUR 74,694 264 283.02Accumulation C EUR 187,373,506 559,541 334.87Accumulation E EUR 44,279,658 138,653 319.36

Invesco Global Bond Fund (USD)Distribution A SD USD 23,047,266 4,110,349 5.61Accumulation A USD 38,816,322 4,625,035 8.39Accumulation A Hedg (EUR) EUR 2,131,855 155,425 10.36Accumulation C USD 26,998,751 2,984,351 9.05Accumulation C Hedg (EUR) EUR 14,060,816 1,022,198 10.39Accumulation E EUR 36,636,824 4,533,506 6.10Accumulation E Hedg (EUR) EUR 808,077 59,016 10.34Distribution Z SD USD 6,981 700 9.97

Invesco Funds


124 Invesco Funds



Invesco European Bond Fund (EUR)Distribution A SD EUR 45,321,506 8,579,196 5.28Accumulation A EUR 59,555,630 10,171,111 5.86Accumulation B EUR 8,207,410 1,627,048 5.04Accumulation C EUR 26,790,141 4,413,210 6.07Accumulation E EUR 33,079,612 5,759,483 5.74Distribution Z AD EUR 5,232 523 10.00

Invesco Absolute Return Bond Fund (EUR)Accumulation A EUR 4,663,198 1,680,638 2.77Accumulation C EUR 256,501 88,314 2.90Accumulation C Hedg (GBP) GBP 105,763 37,423 2.41Accumulation E EUR 5,462,493 2,012,382 2.71Accumulation I EUR 1,022 347 2.94

Invesco Euro Inflation-Linked Bond Fund (EUR)Accumulation A EUR 10,399,464 706,127 14.73Accumulation C EUR 552,892 36,083 15.32Accumulation E EUR 9,097,593 629,556 14.45Accumulation I EUR 1,061 69 15.29Accumulation R EUR 781,663 77,955 10.03

Invesco Euro Corporate Bond Fund (EUR)Distribution A AD EUR 7,351,000 659,773 11.14Distribution A MD EUR 764,800,583 63,078,817 12.12Accumulation A EUR 978,722,422 62,664,471 15.62Accumulation C EUR 1,095,651,285 68,466,421 16.00Accumulation E EUR 578,363,244 37,674,150 15.35Distribution R MD EUR 100,062,019 9,200,675 10.88Accumulation R EUR 33,928,351 2,945,518 11.52Distribution Z AD EUR 5,223 523 9.99Accumulation Z EUR 5,223 523 9.99

Invesco UK Investment Grade Bond Fund (GBP)Distribution A QD GBP 54,168,832 59,079,819 0.92Distribution C QD GBP 4,390 447 9.83Distribution Z QD GBP 4,491 446 10.07

Invesco Emerging Local Currencies Debt Fund (USD)*Distribution A AD EUR 3,709,440 314,003 8.92Distribution A MD Hedg (EUR) EUR 109,051,624 11,276,880 7.30Distribution A MD USD 376,698,755 39,852,198 9.45Distribution A MD (HKD) HKD 56,613 5,204 84.37Accumulation A USD 70,705,832 4,961,935 14.25Accumulation A Hedg (EUR) EUR 33,084,047 3,221,009 7.76Accumulation C USD 111,340,414 7,566,081 14.72Accumulation C Hedg (EUR) EUR 53,246,153 4,568,315 8.80Accumulation E EUR 103,163,385 7,434,397 10.48Distribution R MD Fixed USD 66,770,468 7,951,747 8.40Distribution Z AD Hedg (EUR) EUR 97,267 7,472 9.83

Invesco Global Investment Grade Corporate Bond Fund (USD)Distribution A AD USD 14,092,392 1,295,901 10.87Distribution A MD USD 11,520,990 1,072,917 10.74Distribution A MD (HKD) HKD 6,585 488 104.64Accumulation A Hedg (EUR) EUR 8,150,754 730,040 8.43Distribution C AD USD 774,488 70,906 10.92Accumulation C Hedg (EUR) EUR 6,585,011 580,037 8.57Accumulation C Hedg (GBP) GBP 155,757 12,589 7.98Accumulation E EUR 5,429,624 453,471 9.04

Invesco Global Unconstrained Bond Fund (GBP)Accumulation A GBP 619,099 44,453 13.93Accumulation A Hedg (EUR) EUR 30,789 2,190 16.46Accumulation C GBP 2,447,412 172,384 14.20Accumulation C Hedg (EUR) EUR 896,637 62,708 16.74Accumulation E Hedg (EUR) EUR 30,307 2,190 16.20

Invesco Funds


125 Invesco Funds



Invesco Global Total Return (EUR) Bond Fund (EUR)*Distribution A AD EUR 5,885 565 10.41Accumulation A EUR 18,854,034 1,577,326 11.95Accumulation C EUR 61,561,111 5,081,991 12.11Distribution E QD EUR 25,459,891 2,290,122 11.12Accumulation E EUR 16,413,569 1,383,578 11.86Distribution R MD EUR 26,173,199 2,452,913 10.67Distribution Z AD EUR 5,244 523 10.03

Invesco Emerging Market Corporate Bond Fund (USD)Distribution A MD Fixed USD 46,384,520 4,573,338 10.14Accumulation A USD 7,499,594 667,514 11.24Accumulation A Hedg (EUR) EUR 17,268,257 1,164,556 11.20Accumulation C USD 22,534,497 1,977,946 11.39Accumulation C Hedg (EUR) EUR 23,389,652 1,555,553 11.36Accumulation E Hedg (EUR) EUR 29,062,049 1,982,710 11.07Distribution R MD Fixed USD 37,627,176 3,713,805 10.13Distribution Z AD Hedg (EUR) EUR 97,925 7,472 9.90

Invesco Euro Short Term Bond Fund (EUR)Accumulation A EUR 8,883,673 837,384 10.61Accumulation C EUR 13,824,603 1,292,579 10.70Accumulation E EUR 8,422,974 797,658 10.56Accumulation R EUR 4,345,778 416,304 10.44

Invesco Asian Bond Fund (USD)Distribution A AD EUR 717,670 58,820 9.22Distribution A MD USD 2,953,821 300,162 9.84Distribution A MD (HKD) HKD 76,786 6,072 98.07Accumulation A USD 4,295,119 413,313 10.39Accumulation C USD 13,663,554 1,308,096 10.45Accumulation C Hedg (GBP) GBP 146,194 9,015 10.46Accumulation E (EUR) EUR 1,402,888 104,529 10.14Distribution R MD USD 964,588 100,237 9.62

Invesco US High Yield Bond Fund (USD)*Distribution A AD Hedg (EUR) EUR 22,378,388 1,598,187 10.58Distribution A MD Fixed USD 20,276,121 1,977,990 10.25Distribution A MD (HKD) HKD 201,200 14,971 104.22Accumulation A USD 3,395,807 312,133 10.88Accumulation A Hedg (EUR) EUR 11,233,811 783,135 10.83Distribution C AD USD 8,245,001 774,432 10.65Accumulation E EUR 1,524,034 112,782 10.21Accumulation R USD 1,210,174 112,155 10.79

Invesco Renminbi Fixed Income Fund (USD)Distribution A AD EUR 3,038,533 232,078 9.89Accumulation A USD 7,197,523 681,370 10.56Accumulation C USD 32,397,269 3,050,675 10.62Accumulation E EUR 3,561,086 270,581 9.94Accumulation R USD 3,476,966 332,420 10.46

Invesco Capital Shield 90 (EUR) Fund (EUR)Accumulation A EUR 47,229,381 4,059,584 11.63Accumulation C EUR 33,453,910 2,751,340 12.16Accumulation E EUR 14,711,877 1,331,992 11.05Accumulation I EUR 1,136 92 12.38

Invesco Asia Balanced Fund (USD)Distribution A MD USD 17,277,167 1,770,154 9.76Distribution A1 MD USD 6,934 700 9.91Distribution A QD USD 401,926,732 26,182,864 15.35Distribution A QD (HKD) HKD 122,391,003 7,939,439 119.55Accumulation A USD 291,773,009 12,782,512 22.83Accumulation A Hedg (EUR) EUR 33,208,420 1,915,791 13.09Accumulation C USD 41,798,503 1,766,102 23.67Accumulation C Hedg (EUR) EUR 929,767 40,560 17.31Accumulation E EUR 104,635,146 5,720,537 13.82Accumulation R USD 9,503,554 900,278 10.56Accumulation Z Hedg (EUR) EUR 98,001 7,472 9.91

Invesco Funds


126 Invesco Funds



Invesco Pan European High Income Fund (EUR)*Distribution A AD EUR 61,414 5,156 11.91Distribution A QD EUR 207,307,733 16,724,875 12.40Accumulation A EUR 126,829,749 7,597,575 16.69Accumulation C EUR 49,110,693 2,869,721 17.11Accumulation E EUR 180,866,720 11,261,714 16.06Accumulation R EUR 22,973,944 1,908,766 12.04Distribution Z AD EUR 5,217 523 9.97

Invesco Global Absolute Return Fund (EUR)Accumulation A EUR 4,409,317 420,441 10.49Accumulation C EUR 17,569,203 1,609,375 10.92Accumulation C Hedg (JPY) JPY 22,019,017 2,383,706 1,201.10Accumulation C Hedg (USD) USD 57,390 5,231 14.53Accumulation E EUR 9,601,105 942,991 10.18Accumulation Z EUR 5,178 523 9.90

Invesco Balanced-Risk Allocation Fund (EUR)*Distribution A AD EUR 367,525,665 25,900,222 14.19Accumulation A EUR 1,290,680,549 91,016,890 14.18Accumulation A Hedg (USD) USD 116,523,806 8,184,969 18.85Accumulation C EUR 892,404,260 61,437,872 14.53Accumulation C Hedg (GBP) GBP 53,098,733 3,530,202 12.85Accumulation C Hedg (USD) USD 26,598,767 1,824,177 19.30Accumulation E EUR 925,741,810 66,607,826 13.90Accumulation R EUR 243,249,838 21,010,774 11.58Accumulation Z EUR 5,271 523 10.08Accumulation Z Hedg (GBP) GBP 75,209 6,373 10.08Accumulation Z Hedg (USD) USD 76,121 10,000 10.08

* Sub-fund which swung the price on NAV at 30 August 2013. Reconciliation between un-swung NAV and published swung NAV is disclosed in note12 to the financial statements.

Invesco Funds


127 Invesco Funds

Notes to the Financial Statements

1. GeneralInvesco Funds (the “Fund”) is an investment company organised under part I of the Luxembourg Law on collective investment of December 17,2010 as a Société Anonyme qualifying as a Société d’Investissement à Capital Variable (“SICAV”). Invesco Funds is an umbrella fund, comprising 51active sub-funds with each sub-fund being treated as a separate entity.

(a) Invesco India (Mauritius) LimitedInvestments in Indian securities are made through a wholly-owned Mauritian subsidiary, Invesco India (Mauritius) Limited (the "Subsidiary"), whosesole object is to carry out investment activities on behalf of the Fund. The Subsidiary is wholly owned by Invesco India Equity Fund. Currently theSubsidiary benefits from the relief due to the India/Mauritius double tax treaty. The Subsidiary holds a Category 1 Global Business Licence issued bythe Mauritius Offshore Business Activities Authority. As a result it is currently subject to a reduced rate of Mauritian income tax on its income. Inaddition, no capital gains tax are currently payable in respect of the Subsidiary's investments in India and any dividends and redemption proceedspaid by the Subsidiary to the Invesco India Equity Fund are currently exempt from Mauritian withholding tax. No guarantee or warranty can be givenor should be assumed that the tax benefits of the treaty will continue to be available in future periods due to, among others, changes in the regulatoryenvironment in Mauritius, India or the European Union.

(b) Classes of SharesThe Shares of some of the sub-funds are available in up to eight classes (Class A, Class B, Class B1, Class C, Class E, Class I, Class R and Class Z). ClassA Shares are available without any restraints. Class B Shares are available to customers of distributors or intermediaries appointed specifically forthe purpose of distributing the B Shares and only in respect of those Funds in respect of which distribution arrangements have been made with suchdistributors. Class C Shares are available to all investors, which have a higher minimum initial subscription amount and benefit from reducedmanagement charges, are intended primarily for larger or institutional investors. Class E Shares denominated in Euro have a lower initial subscriptionamount and higher annual management fee than either the A or the C Class. Class B1 Shares are only available to customers of Merrill Lynch. Class IShares are denominated in Euro and are only available to Institutional clients who have an Institutional Management Agreement in place withInvesco. Class R Shares are available without any restraints. There are distributing A, C, E & R Share Classes, hedged share classes and fixeddistribution share classes within some of the sub-funds. Class Z Shares will incur a lower management charge than ‘A’ Shares and are available tocertain categories of Investors, as further disclosed in the Prospectus.

Hedged Share Classes are available to investors on several sub-funds. For such classes of Shares, the SICAV may hedge the currency exposure ofclasses of Shares denominated in a currency other than the base currency of the relevant Fund, in order to attempt to mitigate the effect offluctuations in the exchange rate between the Share class currency and the base currency.

(c) Activity of the FundActivity on the Fund since 28 February 2013:

Share Class LaunchEffective 19 June 2013 the following Shares Classes were launched:

Invesco Asia Balanced Fund A (Monthly Distributing) USDInvesco UK Investment Grade Bond Fund C (Quarterly Distributing) GBP

Effective 21 August 2013 the following Shares Classes were launched: Invesco Emerging Market Quantitative Equity Fund Z (Accumulation) EURInvesco Global Smaller Companies Equity Fund Z (Accumulation) USDInvesco Global Equity Income Fund Z (Accumulation) USDInvesco Global Equity Income Fund Z (Semi-Annually Distributing) USDInvesco Global Equity Income Fund Z (Annually Distributing) EURInvesco Latin American Equity Fund Z (Accumulation) USDInvesco US Structured Equity Fund Z (Accumulation) USDInvesco US Equity Fund Z (Annually Distributing) EURInvesco Pan European Structured Equity Fund Z (Annually Distributing) EURInvesco Pan European Equity Fund Z (Annually Distributing) USDInvesco Pan European Equity Fund Z (Annually Distributing) EURInvesco European Growth Equity Fund Z (Annually Distributing) EURInvesco Pan European Equity Income Fund Z (Semi-Annually) EURInvesco Nippon Small/Mid Cap Equity Fund Z (Accumulation) JPYInvesco Japanese Equity Advantage Fund Z (Accumulation) GBPInvesco Japanese Equity Advantage Fund Z (Accumulation) EURInvesco Greater China Equity Fund Z (Accumulation) USDInvesco Greater China Equity Fund Z (Accumulation) EURInvesco Asia Infrastructure Fund Z (Accumulation) USDInvesco Asia Infrastructure Fund Z (Accumulation) EURInvesco Asia Consumer Demand Fund Z (Accumulation) USDInvesco Asia Consumer Demand Fund Z (Accumulation) EURInvesco Global Bond Fund Z (Semi-Annually) USDInvesco European Bond Fund Z (Annually Distributing) EURInvesco Euro Corporate Bond Fund Z (Accumulation) EURInvesco Euro Corporate Bond Fund Z (Annually Distributing) EUR

128 Invesco Funds

1. General (continued)

Share Class Launch

Effective 21 August 2013 the following Shares Classes were launched:

Invesco UK Investment Grade Bond Fund Z (Quarterly Distributing) GBPInvesco Emerging Local Currencies Debt Fund Z (Annually Distributing) EUR HedgedInvesco Global Total Return (EUR) Bond Fund Z (Annually Distributing) EURInvesco Emerging Market Corporate Bond Fund Z (Annually Distributing) EUR HedgedInvesco Asia Balanced Fund Z (Accumulation) EUR HedgedInvesco Asia Balanced Fund A (Monthly Distributing - 1) USDInvesco Pan European High Income Fund Z (Annually Distributing) EURInvesco Global Absolute Return Fund Z (Accumulation) EURInvesco Balanced-Risk Allocation Fund Z (Accumulation) GBP HedgedInvesco Balanced-Risk Allocation Fund Z (Accumulation) USD HedgedInvesco Balanced-Risk Allocation Fund Z (Accumulation) EUR

A new Prospectus was issued on 20 May 2013 and 20 August 2013.

Activity on the Fund since 31 August 2013:

Effective 18 September 2013 the following Share Classes were launched:

Invesco Global Equity Income Fund A (Accumulation) CHF HedgedInvesco Global Equity Income Fund C (Accumulation) CHF HedgedInvesco Pan European Structured Equity Fund A (Accumulation) CHF HedgedInvesco Pan European Structured Equity Fund C (Accumulation) CHF HedgedInvesco Pan European Equity Fund A (Accumulation) CHF HedgedInvesco Pan European Equity Fund C (Accumulation) CHF HedgedInvesco Japanese Equity Advantage Fund A (Accumulation) EUR HedgedInvesco Japanese Equity Advantage Fund C (Accumulation) EUR HedgedInvesco Japanese Equity Advantage Fund A (Accumulation) CHF HedgedInvesco Japanese Equity Advantage Fund C (Accumulation) CHF HedgedInvesco Japanese Value Equity Fund A (Accumulation) CHF HedgedInvesco Greater China Equity Fund A (Accumulation) RMB HedgedInvesco Asia Infrastructure Fund A (Accumulation) CHF HedgedInvesco Asia Consumer Demand Fund A (Accumulation) CHF HedgedInvesco Global Income Real Estate Securities Fund A (Monthly Distributing - Gross) USDInvesco Global Bond Fund A (Accumulation) CHF HedgedInvesco Global Bond Fund C (Accumulation) CHF HedgedInvesco European Bond Fund A (Accumulation) CHF HedgedInvesco European Bond Fund C (Accumulation) CHF HedgedInvesco Euro Corporate Bond Fund A (Accumulation) CHF HedgedInvesco Euro Corporate Bond Fund C (Accumulation) CHF HedgedInvesco Global Total Return (EUR) Bond Fund A (Accumulation) CHF HedgedInvesco Global Total Return (EUR) Bond Fund C (Accumulation) CHF HedgedInvesco Global Total Return (EUR) Bond Fund A (Accumulation) SEK HedgedInvesco Emerging Market Corporate Bond Fund A (Accumulation) SEK HedgedInvesco Asian Bond Fund A (Monthly Distributing) RMB HedgedInvesco US High Yield Bond Fund C (Accumulation) USDInvesco Asia Balanced Fund A (Monthly Distributing) RMB HedgedInvesco Balanced-Risk Allocation Fund C (Accumulation) JPY HedgedInvesco Balanced-Risk Allocation Fund A (Accumulation) CHF HedgedInvesco Balanced-Risk Allocation Fund C (Accumulation) CHF HedgedInvesco Balanced-Risk Allocation Fund A (Accumulation) SEK Hedged

Notes to the Financial Statements (continued)

129 Invesco Funds

2. Summary of Significant Accounting Policies(a) The accompanying financial statements have been prepared in accordance with the format prescribed by Luxembourg regulations. Consolidationfigures appearing in the Statement of Net Assets are for statistical purposes only and should not be used by investors with holdings in one or moresub-funds.

(b) Valuation of investmentsInvestments, including financial derivative instruments, are valued on the basis of the latest dealing price or the latest available midmarket quotation(the midpoint between the latest quoted bid and offer prices) of the securities on the relevant securities market on which the investments of the Fundare traded, quoted or dealt as at the Valuation Point on that day. Where investments of a sub-fund are both listed on a stock exchange and dealt bymarket makers outside the stock exchange on which the investments are listed, then the SICAV will determine the principal market for theinvestments in question and they are valued at the latest available price in that market. Securities which are not quoted or dealt in any stockexchange but which are dealt in on any other regulated market are valued in a manner as near as possible to that described above. If no pricequotation is available for any of the securities held by a sub-fund or if the value as determined pursuant to the points above is not representative ofthe fair market value of the relevant securities, the value of such securities is based on the reasonably foreseeable sales price determined prudentlyand in good faith. Short-term Money-Market Instruments are valued based on amortised cost method.

The financial statements have been prepared on the basis of the last net asset values determined in the accounting period. In accordance with theProspectus, net asset values were calculated by reference to the latest available prices at 12.00 p.m. (Irish time) on 30 August 2013.

(c) Impact on ValuesBy way of information, if the Fund had calculated the net asset values solely with a view to publication, the market prices used to value theinvestment portfolio would have been the closing prices on 30 August 2013 for the entire investment portfolio, including the American and Europeanequities. However, these net asset values would not have been significantly different from those shown in this Interim Report.

(d) Cost of sales of investmentsAny surplus or deficit on sales of investments is determined on the basis of average cost.

(e) Income from investmentsDividend income is accounted for on an ex-dividend basis. Income arising on fixed interest securities and deposit interest is accrued on a day-to-daybasis.

(f) Foreign exchangeTransactions in currencies other than the designated currency for each sub-fund are translated at the rates of exchange ruling at the time of thetransactions. The market value of the investments and other assets and liabilities in currencies other than the designated currency for each sub-fundare translated at the rates of exchange ruling at the period end.

The principle exchange rates used at 31 August 2013 :

Currency USD 1.00 Currency USD 1.00 Currency USD 1.00

ARS 5.6610 HUF 227.0970 PKR 104.4800AUD 1.1186 IDR 10,920.0013 PLN 3.2167BRL 2.3593 ILS 3.6057 RON 3.3491CAD 1.0522 INR 66.0700 RSD 86.5150CHF 0.9303 ISK 119.6850 RUB 33.2450CLP 510.9501 ITL 1,462.4949 SEK 6.6110CNY 6.1195 JPY 98.2100 SGD 1.2744COP 1,941.6351 KRW 1,110.0500 SKK 22.7546CRC 500.7258 KZT 153.0000 THB 32.1900CZK 19.4377 MXN 13.3238 TRY 2.0342DKK 5.6341 MYR 3.2848 TWD 29.9245EGP 6.9856 NGN 163.3500 UAH 8.1250EUR 0.7553 NOK 6.1119 UYU 22.3550GBP 0.6451 NZD 1.2870 ZAR 10.3207GHS 2.1275 PEN 2.8040HKD 7.7555 PHP 44.6000

(g) Expenses allocationWhere the Fund incurs an expense which relates to a particular sub-fund, such expense is allocated to the relevant sub-fund. In cases where anexpense cannot be considered as being attributable to a particular sub-fund, such expense is allocated between sub-funds on the basis of theirrespective Net Asset Values.

(h) Preliminary expensesThe preliminary expenses will be amortised over the first 5 years. Sub-funds are subject to a maximum amortisation in any accounting year of 0.05%of the average net asset value. Any unamortised expenses at the end of the 5 years or liquidation date, will be borne by the Management Company.


130 Invesco Funds

2. Summary of Significant Accounting Policies (continued)(i) Forward foreign exchange contractsThe unrealised gain or loss on open forward foreign exchange contracts is calculated as the difference between the contracted rate and the rate toclose out the contract and is disclosed in the Statement of Net Assets (see note 7 for details). Realised gains or losses include net results on contractswhich have been settled or offset on other contracts and are recorded in the Statement of Operations and Changes in Net Assets (disclosed at yearend only).

(j) Futures contractsDerivative financial instruments are initially recognised at cost and subsequently are re-measured at market value. Market values are obtained fromquoted market prices and exchange rates. All derivatives are carried in assets when amounts are receivable by the Fund and in liabilities whenamounts are payable by the Fund. Changes in market values of future contracts are included in the Statement of Net Assets (see note 8 for details).

(k) Credit default swapsA credit default swap is a credit derivative transaction in which two parties enter into an agreement, whereby one party pays the other a fixedperiodic coupon for the specified life of the agreement. The other party makes no payments unless a credit event, relating to a predeterminedreference asset occurs. If such an event occurs, the party will then make a payment to the first party and the swap will terminate.The credit defaultswaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 9 for details).

(l) Interest rate swapsAn interest rate swap is a bilateral agreement in which each of the parties agrees to exchange a series of interest payments for another series ofpayments (usually fixed/floating) based on a notional amount that serves as a computation basis and that is usually not exchanged.The interest rateswaps are marked to market daily based upon quotations from market makers and recorded in the Statement of Net Assets (see note 10 for details).

(m) Equity swapsAn Equity Swap is a derivative transaction in which the Fund and the counterparty enter into an agreement whereby one party pays the returnsgenerated by an equity or a basket of equities. The other party pays interest based on the agreed notional amount of the transaction. Interestreceived/paid on Equity swaps are recorded as net interest received on swaps/net interest paid on Swaps in the Statement of Operations andChanges in Net Assets (disclosed at year end only). The value of equity swap transactions is the net present value of all cash flows, both inflows andoutflows. Equity swaps are recorded in the Statement of Net Assets (see note 11 for details).

(n) Cash collateralMargin accounts represent the cash collateral held at brokers for derivative instruments.

3. Management and Investment Advisor FeesThe Directors of the Fund (the “Directors”) are responsible for the investment policy, management and administration of the Fund. The Directorsdelegate the day-to-day investment management of the securities portfolio of the Fund to Invesco Management S.A. (the “Management Company”).

In following the investment policy of the Directors, the Management Company seeks investment advice from, as appropriate, Invesco AssetManagement Limited in the United Kingdom, Invesco Hong Kong Limited, Invesco Asset Management (Japan) Limited, Invesco Advisers Inc. in theUnited States and Invesco Asset Management Deutschland GmbH in Germany.

For its services the Management Company is paid by the Fund a percentage of the Net Asset Value of each sub-fund as set out in the table below:

Sub-fund Management Management Management Management Management Management ManagementFee Fee Fee Fee Fee Fee Fee

Class A Class B Class B1 Class C Class E Class R Class Z(includes a 1% (includes a 0.7%Distribution fee) Distribution fee)

EQUITY FUNDSGlobalInvesco Global Structured Equity Fund 1.00% - - 0.60% 1.50% - -Invesco Emerging Market Quantitative Equity Fund 1.25% - - 0.75% 1.75% - 0.62%Invesco Global Smaller Companies Equity Fund 1.60% - - 0.95% 2.25% 2.30% 0.80%Invesco Global Equity Income Fund 1.40% - - 0.75% 2.25% 2.10% 0.70%

America Invesco Latin American Equity Fund 1.50% - - 1.00% 2.25% - 0.75%Invesco US Structured Equity Fund 1.00% 2.00% - 0.60% 1.50% - 0.50%Invesco US Value Equity Fund 1.40% - - 0.70% 2.25% 2.10% -Invesco US Equity Fund 1.50% - - 1.00% 2.25% 2.20% 0.75%

Europe Invesco Pan European Structured Equity Fund 1.30% 2.30% - 0.80% 2.25% 2.00% 0.65%Invesco Pan European Equity Fund 1.50% 2.50% - 1.00% 2.00% 2.20% 0.75%Invesco Pan European Small Cap Equity Fund 1.50% 2.50% - 1.00% 2.25% - -Invesco European Growth Equity Fund 1.50% - - 1.00% 2.25% - 0.75%Invesco Pan European Equity Income Fund 1.50% - - 1.00% 2.00% - 0.75%Invesco Emerging Europe Equity Fund 1.50% 2.50% - 1.00% 2.25% - -Invesco Pan European Focus Equity Fund 1.50% - - 1.00% 2.00% 2.20% -


131 Invesco Funds

3. Management and Investment Advisor Fees (continued)

Sub-fund Management Management Management Management Management Management ManagementFee Fee Fee Fee Fee Fee Fee

Class A Class B Class B1 Class C Class E Class R Class Z(includes a 1% (includes a 0.7%Distribution fee) Distribution fee)

Japan Invesco Nippon Small/Mid Cap Equity Fund 1.50% 2.50% - 1.00% 2.25% - 0.75%Invesco Japanese Equity Advantage Fund 1.40% - - 0.75% 2.00% 2.10% 0.70%Invesco Japanese Value Equity Fund 1.40% - - 0.75% 2.00% 2.10% -

AsiaInvesco Asia Opportunities Equity Fund 1.50% 2.50% - 1.00% 2.25% - -Invesco Greater China Equity Fund 1.50% 2.50% - 1.00% 2.25% 2.20% 0.75%Invesco Asia Infrastructure Fund 1.50% - - 1.00% 2.25% 2.20% 0.75%Invesco India Equity Fund 1.50% - - 1.00% 2.25% - -Invesco Asia Consumer Demand Fund 1.50% - - 1.00% 2.25% 2.20% 0.75%Invesco China Focus Equity Fund 1.75% - - 1.25% 2.25% 2.45% -Invesco Asian Focus Equity Fund 1.50% - - 0.60% 2.25% 2.20% -

THEME FUNDS Invesco Global Leisure Fund 1.50% 2.50% - 1.00% 2.25% - -Invesco Energy Fund 1.50% 2.50% - 1.00% 2.25% 2.20% -Invesco Global Income Real Estate Securities Fund 1.25% - - 0.80% 1.75% - -Invesco Gold & Precious Metals Fund 1.50% - - 1.00% 2.00% 2.20% -

RESERVE FUNDSInvesco USD Reserve Fund 0.45% 1.50% 0.50% 0.25% 0.50% - -Invesco Euro Reserve Fund 0.35% 1.45% - 0.15% 0.50% - -

BOND FUNDS Invesco Global Bond Fund 0.75% - - 0.50% 0.90% - 0.38%Invesco European Bond Fund 0.75% 1.75% - 0.50% 0.90% - 0.38%Invesco Absolute Return Bond Fund 0.75% - - 0.50% 1.00% - -Invesco Euro Inflation-Linked Bond Fund 0.75% - - 0.50% 0.90% 1.45% -Invesco Euro Corporate Bond Fund 1.00% - - 0.65% 1.25% 1.70% 0.50%Invesco UK Investment Grade Bond Fund 0.625% - - 0.40% - - 0.32%Invesco Emerging Local Currencies Debt Fund 1.50% - - 1.00% 2.00% 2.20% 0.75%Invesco Global Investment Grade Corporate Bond Fund 1.00% - - 0.65% 1.25% - -Invesco Global Unconstrained Bond Fund 1.50% 1.00% 2.00% - -Invesco Global Total Return (EUR) Bond Fund 1.00% - - 0.65% 1.25% 1.70% 0.50%Invesco Emerging Market Corporate Bond Fund 1.50% - - 1.00% 2.00% 2.20% 0.75%Invesco Euro Short Term Bond Fund 0.70% - - 0.40% 0.90% 1.40% -Invesco Asian Bond Fund 1.00% - - 0.75% 1.25% 1.70% -Invesco US High Yield Bond Fund 1.25% - - 0.75% 1.75% 1.95% -Invesco Renminbi Fixed Income Fund 1.00% - - 0.60% 1.25% 1.70% -

MIXED FUNDS Invesco Capital Shield 90 (EUR) Fund 1.00% - - 0.60% 1.50% - -Invesco Asia Balanced Fund 1.25% - - 0.80% 1.75% 1.95% 0.62%Invesco Pan European High Income Fund 1.25% - - 0.80% 1.75% 1.95% 0.62%Invesco Global Absolute Return Fund 1.75% - - 1.00% 2.30% - 0.88%Invesco Balanced-Risk Allocation Fund 1.25% - - 0.75% 1.75% 1.95% 0.62%

The management fees are calculated daily based on the Net Asset Value of each sub-fund on each business day and paid monthly. The fees of theInvestment Adviser are paid out of the Manager's remuneration.

For the period under review, the Management Company partially waived the management fee for the Invesco USD Reserve Fund and Invesco EuroReserve Fund.

There is no annual management fee for “I” Shares.


132 Invesco Funds

4. Other FeesThe Manager is paid an additional fee by each Fund (the "Service Agent Fee"). The Service Agent Fee for A and R Shares shall not exceed 0.40% forEquity Funds or Theme Funds, 0.27% for Bond Funds, 0.20% for the Structured Funds, 0.13% for Reserve Funds, 0.35% for Invesco Asia BalancedFund and Invesco Balanced-Risk Allocation Fund and 0.40% for Invesco Pan European High Income Fund and Invesco Global Absolute Return Fund ofthe Net Asset Value of each Fund. The Service Agent Fee for B, B1 and C Shares shall not exceed 0.30% for Equity Funds and Theme Funds, 0.10%for Reserve Funds, 0.20% for Bond Funds (except for Invesco Euro Inflation-Linked Bond Fund which shall not exceed 0.10%), 0.15% for StructuredFunds and 0.30% for the Mixed Funds of the Net Asset Value of each Fund. Out of this Service Agent Fee, the Manager discharges the fees of theAdministration Agent, the Domiciliary & Corporate Agent and the Registrar & Transfer Agent as well as fees of service providers and fees incurred inplaces where the Fund is registered. Each of these fees shall be calculated on each Business Day on the Net Asset Value of the sub-funds (at a ratewhich shall be agreed from time to time with the Manager) and paid monthly. Additionally, the Manager reimburses the expenses of the Fund's HongKong Sub-Distributor and Representative.

The Custodian will be paid a fee calculated on a monthly basis at a rate of up to a maximum of 0.0075% per annum of the net asset value of eachFund on the last Business Day of each calendar month (or at such higher rate as the Custodian and the SICAV may at any time agree), plus VAT (ifany) and will be paid monthly. In addition, the Custodian will charge each Fund safekeeping and servicing fees at varying rates, depending on thecountry in which the assets of a Fund are held and currently ranging from 0.001% to 0.45% of the net asset value of the assets invested in suchcountry, plus VAT (if any), together with charges at normal commercial rates in respect of investment transactions, as agreed with the SICAV fromtime to time. Sub-custodian fees are paid out of these safekeeping and servicing fees.

The Management Company has agreed to cap operational expenses charged to the following sub-funds at its discretion, at the following annual rates:

Sub-Fund Date since capping is in place Annual RateInvesco Emerging Market Quantitative Equity Fund* 21/06/2010 0.05%Invesco Latin American Equity Fund 11/08/2010 0.15%Invesco US Equity Fund 27/06/2012 0.15%Invesco Pan European Equity Income Fund 01/09/2010 0.05%Invesco Pan European Focus Equity Fund 07/07/2011 0.15%Invesco China Focus Equity fund 15/12/2011 0.05%Invesco Asian Focus Equity Fund 27/06/2012 0.20%Invesco Global Income Real Estate Securities Fund 01/03/2012 0.05%Invesco Gold & Precious Metals Fund 21/06/2010 0.15%Invesco Global Investment Grade Corporate Bond Fund 09/10/2009 0.05%Invesco Global Unconstrained Bond Fund 21/06/2010 0.05%Invesco Global Total Return (EUR) Bond Fund* 15/09/2010 0.05%Invesco Emerging Market Corporate Bond Fund* 04/05/2011 0.15%Invesco Euro Short Term Bond Fund 04/05/2011 0.05%Invesco Asian Bond Fund 15/12/2011 0.05%Invesco US High Yield Bond Fund 27/06/2012 0.20%Invesco Renminbi Fixed Income Fund 27/06/2012 0.15%Invesco Global Absolute Return Fund* 01/09/2010 0.10%

*Cap was removed with effect from 28 March 2013

5. Tax StatusThe Fund is registered under Luxembourg law as a collective investment undertaking. Accordingly, no Luxembourg income or capital gains tax is atpresent payable by the Fund. It is, however, subject to an annual “taxe d’abonnement” calculated at an annual rate of 0.05% of the Net Asset Value.The two Reserve sub-funds and “I” share classes are subject to a reduced annual rate of 0.01% of the Net Asset Value, such tax being payablequarterly on the basis of the Net Asset Value of the sub-funds at the end of the relevant quarter.

Further to a number of rulings of the European Court of Justice regarding taxation withheld on overseas dividends, the Manager has taken steps tomake claims with certain European Tax Authorities for repayment of taxation suffered on foreign dividend income. Due to the uncertainty regardingthe likely success of the claims, it is not possible to estimate the potential amount of overseas withholding tax that may be received.

6. DividendsIn accordance with the distribution policy of the Fund, income is distributed by way of a dividend payment, only to holders of Distribution Shares.

Invesco Emerging Local Currencies Debt Fund, Class R and Class A monthly distribution share class pay a distribution based on yield fixed annually bythe Board of Directors. For the period from 1 March 2013 to 31 August 2013, the yield was fixed at 4.80% and 5.50% respectively for the R ShareClass and A Share Class as approved by the Board of Directors. Invesco Emerging Markets Corporate Bond Fund, Class R and Class A monthlydistribution share class pay a distribution based on yield fixed annually by the Board of Directors. For the period from 1 March 2013 to 31 August2013, the yield was fixed at 3.80 % and 4.50% respectively for the R Share Class and A Share Class as approved by the Board of Directors. InvescoUS High Yield Bond Fund, Class A monthly distribution share class pay a distribution based on yield fixed annually by the Board of Directors. For theperiod from 1 March 2013 to 31 August 2013, the yield was fixed at 5.00 %. The income due to shareholders of Accumulation Shares is reinvested toenhance the value of the relevant share class.


133 Invesco Funds

6. Dividends (continued)Type of Share Distribution Frequency Record Date Distribution Pay

Rate Distribution Date

Invesco Global Smaller Companies Equity Fund USD per ShareA Dist 0.0079 Semi Annually 30 August 2013* 23 September 2013

Invesco Global Equity Income Fund USD per ShareA Dist 0.1066 Semi Annually 30 August 2013* 23 September 2013

Invesco US Value Equity Fund USD per ShareA Dist 0.0027 Semi Annually 30 August 2013* 23 September 2013C Dist 0.0896 Semi Annually 30 August 2013* 23 September 2013

Invesco Pan European Equity Income Fund EUR per ShareA Dist 0.0996 Semi Annually 30 August 2013* 23 September 2013

Invesco Asia Infrastructure Fund USD per ShareA Dist 0.1687 Semi Annually 30 August 2013* 23 September 2013

Invesco Asia Consumer Demand Fund USD per ShareA Dist 0.0280 Semi Annually 30 August 2013* 23 September 2013

Invesco Global Income Real Estate Securities Fund USD per ShareA Dist 0.0740 Quarterly 31 May 2013 21 June 2013A Dist 0.0743 Quarterly 30 August 2013* 23 September 2013

Invesco Global Bond Fund USD per ShareA Dist 0.0272 Semi Annually 30 August 2013* 23 September 2013

Invesco European Bond Fund EUR per ShareA Dist 0.0570 Semi Annually 30 August 2013* 23 September 2013

Invesco Euro Corporate Bond Fund EUR per ShareA Dist 0.0277 Monthly 31 March 2013 22 April 2013R Dist 0.0190 Monthly 31 March 2013 22 April 2013A Dist 0.0309 Monthly 30 April 2013 13 May 2013R Dist 0.0208 Monthly 30 April 2013 13 May 2013A Dist 0.0290 Monthly 31 May 2013 21 June 2013R Dist 0.0194 Monthly 31 May 2013 21 June 2013A Dist 0.0313 Monthly 30 June 2013 22 July 2013R Dist 0.0222 Monthly 30 June 2013 22 July 2013A Dist 0.0334 Monthly 31 July 2013 21 August 2013R Dist 0.0232 Monthly 31 July 2013 21 August 2013A Dist 0.0292 Monthly 30 August 2013* 23 September 2013R Dist 0.0199 Monthly 30 August 2013* 23 September 2013

Invesco UK Investment Grade Bond Fund GBP per ShareA Dist 0.0057 Quarterly 31 May 2013 21 June 2013A Dist 0.0060 Quarterly 30 August 2013* 23 September 2013C Dist 0.0552 Quarterly 30 August 2013* 23 September 2013

Invesco Emerging Local Currencies Debt Fund USD, EUR and HKD per ShareA Dist (USD) 0.0504 Monthly 31 March 2013 22 April 2013A Dist (EUR) 0.0244 Monthly 31 March 2013 22 April 2013R Dist (USD) 0.0391 Monthly 31 March 2013 22 April 2013A Dist (HKD) 0.2772 Monthly 31 March 2013 22 April 2013A Dist (USD) 0.0518 Monthly 30 April 2013 13 May 2013A Dist (EUR) 0.0278 Monthly 30 April 2013 13 May 2013R Dist (USD) 0.0401 Monthly 30 April 2013 13 May 2013A Dist (HKD) 0.3229 Monthly 30 April 2013 13 May 2013A Dist (USD) 0.0488 Monthly 31 May 2013 21 June 2013A Dist (EUR) 0.0256 Monthly 31 May 2013 21 June 2013R Dist (USD) 0.0378 Monthly 31 May 2013 21 June 2013A Dist (HKD) 0.2958 Monthly 31 May 2013 21 June 2013A Dist (USD) 0.0457 Monthly 30 June 2013 22 July 2013A Dist (EUR) 0.0220 Monthly 30 June 2013 22 July 2013R Dist (USD) 0.0354 Monthly 30 June 2013 22 July 2013A Dist (HKD) 0.2513 Monthly 30 June 2013 22 July 2013A Dist (USD) 0.0454 Monthly 31 July 2013 21 August 2013A Dist (EUR) 0.0352 Monthly 31 July 2013 21 August 2013R Dist (USD) 0.0352 Monthly 31 July 2013 21 August 2013A Dist (HKD) 0.4133 Monthly 31 July 2013 21 August 2013A Dist (USD) 0.0432 Monthly 30 August 2013* 23 September 2013A Dist (EUR) 0.0204 Monthly 30 August 2013* 23 September 2013R Dist (USD) 0.0335 Monthly 30 August 2013* 23 September 2013A Dist (HKD) 0.2466 Monthly 30 August 2013* 23 September 2013

Invesco Global Investment Grade Corporate Bond Fund USD and HKD per ShareA Dist (USD) 0.0316 Monthly 31 March 2013 22 April 2013A Dist (HKD) 0.3082 Monthly 31 March 2013 22 April 2013A Dist (USD) 0.0284 Monthly 30 April 2013 13 May 2013A Dist (HKD) 0.2755 Monthly 30 April 2013 13 May 2013A Dist (USD) 0.0291 Monthly 31 May 2013 21 June 2013A Dist (HKD) 0.2826 Monthly 31 May 2013 21 June 2013A Dist (USD) 0.0265 Monthly 30 June 2013 22 July 2013


134 Invesco Funds



Invesco Global Investment Grade Corporate Bond Fund USD and HKD per Share (continued)A Dist (HKD) 0.2583 Monthly 30 June 2013 22 July 2013A Dist (USD) 0.0315 Monthly 31 July 2013 21 August 2013A Dist (HKD) 0.2993 Monthly 31 July 2013 21 August 2013A Dist (USD) 0.0286 Monthly 30 August 2013* 23 September 2013A Dist (HKD) 0.2769 Monthly 30 August 2013* 23 September 2013

Invesco Global Total Return (EUR) Bond Fund EUR per ShareR Dist 0.0024 Monthly 31 March 2013 22 April 2013R Dist 0.0034 Monthly 30 April 2013 13 May 2013E Dist 0.0242 Quarterly 31 May 2013 21 June 2013R Dist 0.0053 Monthly 31 May 2013 21 June 2013R Dist 0.0116 Monthly 30 June 2013 22 July 2013R Dist 0.0108 Monthly 31 July 2013 21 August 2013E Dist 0.0473 Quarterly 30 August 2013* 23 September 2013R Dist 0.0108 Monthly 30 August 2013* 23 September 2013

Invesco Emerging Market Corporate Bond Fund USD per ShareA Dist 0.0420 Monthly 31 March 2013 22 April 2013R Dist 0.0354 Monthly 31 March 2013 22 April 2013A Dist 0.0421 Monthly 30 April 2013 13 May 2013R Dist 0.0356 Monthly 30 April 2013 13 May 2013A Dist 0.0415 Monthly 31 May 2013 21 June 2013R Dist 0.0350 Monthly 31 May 2013 21 June 2013A Dist 0.0390 Monthly 30 June 2013 22 July 2013R Dist 0.0329 Monthly 30 June 2013 22 July 2013A Dist 0.0394 Monthly 31 July 2013 21 August 2013R Dist 0.0332 Monthly 31 July 2013 21 August 2013A Dist 0.0380 Monthly 30 August 2013* 23 September 2013R Dist 0.0321 Monthly 30 August 2013* 23 September 2013

Invesco Asian Bond Fund USD and HKD per ShareA Dist (USD) 0.0277 Monthly 31 March 2013 22 April 2013A Dist (HKD) 0.2772 Monthly 31 March 2013 22 April 2013R Dist (USD) 0.0215 Monthly 31 March 2013 22 April 2013A Dist (USD) 0.0281 Monthly 30 April 2013 13 May 2013A Dist (HKD) 0.2802 Monthly 30 April 2013 13 May 2013R Dist (USD) 0.0207 Monthly 30 April 2013 13 May 2013A Dist (USD) 0.0295 Monthly 31 May 2013 21 June 2013A Dist (HKD) 0.2943 Monthly 31 May 2013 21 June 2013R Dist (USD) 0.0225 Monthly 31 May 2013 21 June 2013A Dist (USD) 0.0269 Monthly 30 June 2013 22 July 2013A Dist (HKD) 0.2676 Monthly 30 June 2013 22 July 2013R Dist (USD) 0.0208 Monthly 30 June 2013 22 July 2013A Dist (USD) 0.0318 Monthly 31 July 2013 21 August 2013A Dist (HKD) 0.3172 Monthly 31 July 2013 21 August 2013R Dist (USD) 0.0248 Monthly 31 July 2013 21 August 2013A Dist (USD) 0.0307 Monthly 30 August 2013* 23 September 2013A Dist (HKD) 0.3063 Monthly 30 August 2013* 23 September 2013R Dist (USD) 0.0244 Monthly 30 August 2013* 23 September 2013

Invesco US High Yield Bond Fund USD and HKD per ShareA Dist (USD) 0.0438 Monthly 31 March 2013 22 April 2013A Dist (HKD) 0.3618 Monthly 31 March 2013 22 April 2013A Dist (USD) 0.0446 Monthly 30 April 2013 13 May 2013A Dist (HKD) 0.3951 Monthly 30 April 2013 13 May 2013A Dist (USD) 0.0442 Monthly 31 May 2013 21 June 2013A Dist (HKD) 0.3890 Monthly 31 May 2013 21 June 2013A Dist (USD) 0.0426 Monthly 30 June 2013 22 July 2013A Dist (HKD) 0.3320 Monthly 30 June 2013 22 July 2013A Dist (USD) 0.0435 Monthly 31 July 2013 21 August 2013A Dist (HKD) 0.3901 Monthly 31 July 2013 21 August 2013A Dist (USD) 0.0429 Monthly 30 August 2013* 23 September 2013A Dist (HKD) 0.3839 Monthly 30 August 2013* 23 September 2013

Invesco Asia Balanced Fund USD and HKD per ShareA Dist (USD) 0.2733 Quarterly 31 May 2013 21 June 2013A Dist (HKD) 2.1305 Quarterly 31 May 2013 21 June 2013A Dist (USD) 0.0484 Monthly 31 July 2013 21 August 2013A Dist (USD) 0.1947 Quarterly 30 August 2013* 23 September 2013A Dist (HKD) 1.5162 Quarterly 30 August 2013* 23 September 2013A Dist (USD) 0.0488 Monthly 30 August 2013* 23 September 2013


135 Invesco Funds



Invesco Pan European High Income Fund EUR per ShareA Dist 0.1318 Quarterly 31 May 2013 21 June 2013A Dist 0.1143 Quarterly 30 August 2013* 23 September 2013

* Distributions with a record date 30 August 2013 and pay date 23 September 2013 have not been reflected in the Financial Statements. Thesedistributions impact the Net Asset Values calculated on 2 September 2013.

The Invesco Asia Balanced Fund A (Monthly Distributing – 1) USD Class, launched on 21 August 2013, is due to have it’s first distribution on RecordDate 30 September 2013. The first distribution for the Z Share Classes launched 21 August 2013 will have a Record Date of 29 November 2013 (forQuarterly Distributing Classes) and 28 February 2014 (for Annually & Semi-Annually Distributing Classes).

7. Forward Foreign Exchange Contracts

Forward foreign exchange contracts open at 31 August 2013 were as follows:

Invesco Global Structured Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 63,964 USD to Sell 41,237 GBP BNY Mellon 43 09/09/2013Buy 110,632 SGD to Sell 86,356 USD BNY Mellon 455 13/09/2013Buy 119,102 GBP to Sell 180,458 USD BNY Mellon 4,160 09/09/2013Buy 2,114,005 USD to Sell 1,962,050 CHF BNY Mellon 4,786 13/09/2013Buy 1,236,080 USD to Sell 1,562,765 SGD BNY Mellon 9,804 13/09/2013Buy 2,231,870 USD to Sell 1,677,813 EUR BNY Mellon 10,439 13/09/2013Buy 3,083,965 USD to Sell 2,308,019 EUR BNY Mellon 28,182 09/09/2013Buy 6,163,014 USD to Sell 34,553,371 DKK BNY Mellon 29,314 13/09/2013Buy 19,044,319 USD to Sell 1,866,781,254 JPY BNY Mellon 35,053 13/09/2013Buy 1,456,837 USD to Sell 1,826,160 NZD BNY Mellon 39,256 13/09/2013Buy 25,596,442 EUR to Sell 33,808,542 USD BNY Mellon 80,769 09/09/2013Buy 16,184,541 USD to Sell 16,717,012 CAD BNY Mellon 302,227 13/09/2013Buy 20,304,874 USD to Sell 22,267,290 AUD BNY Mellon 417,345 13/09/2013

Total unrealised gain on open forward foreign exchange contracts 961,833

Buy 12,419,720 USD to Sell 8,040,371 GBP BNY Mellon (43,112) 13/09/2013Buy 2,310,637 CAD to Sell 2,236,281 USD BNY Mellon (41,016) 13/09/2013Buy 1,050,620 AUD to Sell 961,286 USD BNY Mellon (22,948) 13/09/2013Buy 666,845 NZD to Sell 537,323 USD BNY Mellon (19,676) 13/09/2013Buy 221,826,044 JPY to Sell 2,277,821 USD BNY Mellon (18,986) 13/09/2013Buy 637,581 EUR to Sell 849,060 USD BNY Mellon (4,912) 09/09/2013Buy 3,287,500 GBP to Sell 5,100,458 USD BNY Mellon (4,569) 09/09/2013Buy 351,337 EUR to Sell 468,613 USD BNY Mellon (3,442) 13/09/2013

Total unrealised loss on open forward foreign exchange contracts (158,661)

Total net unrealised gain on open forward foreign exchange contracts 803,172

Invesco Emerging Market Quantitative Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 5,429 USD to Sell 3,481 GBP BNY Mellon 34 09/09/2013Buy 48,478 GBP to Sell 73,477 USD BNY Mellon 1,667 09/09/2013Buy 4,710,396 USD to Sell 3,525,677 EUR BNY Mellon 42,451 09/09/2013Buy 16,465,260 EUR to Sell 21,748,422 USD BNY Mellon 51,341 09/09/2013


Buy 726,713 EUR to Sell 968,092 USD BNY Mellon (5,937) 09/09/2013Buy 182,741 USD to Sell 1,906,902 ZAR BNY Mellon (1,911) 03/09/2013Buy 1,185 GBP to Sell 1,843 USD BNY Mellon (6) 09/09/2013



Invesco Global Smaller Companies Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 261,183 USD to Sell 195,798 EUR BNY Mellon 1,950 09/09/2013Buy 5,840,874 EUR to Sell 7,714,798 USD BNY Mellon 18,431 09/09/2013


Buy 130,233 EUR to Sell 173,355 USD BNY Mellon (928) 09/09/2013

Total unrealised loss on open forward foreign exchange contracts (928)



136 Invesco Funds

7. Forward Foreign Exchange Contracts (continued)

Invesco Global Equity Income Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 58,536 USD to Sell 43,963 EUR BNY Mellon 331 09/09/2013Buy 1,248,949 EUR to Sell 1,649,649 USD BNY Mellon 3,942 09/09/2013


Buy 237,474 EUR to Sell 316,918 USD BNY Mellon (2,506) 09/09/2013



Invesco Latin American Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 127,558 USD to Sell 95,546 EUR BNY Mellon 1,055 09/09/2013Buy 375,383 EUR to Sell 495,819 USD BNY Mellon 1,185 09/09/2013





Invesco US Structured Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 1,880,361 USD to Sell 1,407,065 EUR BNY Mellon 17,427 09/09/2013Buy 7,898,275 EUR to Sell 10,432,371 USD BNY Mellon 24,830 09/09/2013


Buy 634,754 EUR to Sell 844,199 USD BNY Mellon (3,794) 09/09/2013



Invesco US Value Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 1,588,961 USD to Sell 1,024,895 GBP Citi Bank 341 13/09/2013Buy 1,416,598 USD to Sell 912,830 GBP State Street Bank Equity 1,682 13/09/2013Buy 1,590,504 USD to Sell 1,024,895 GBP BNY Mellon 1,884 13/09/2013Buy 1,503,484 USD to Sell 1,133,657 EUR BNY Mellon 2,518 13/09/2013Buy 1,503,591 USD to Sell 1,133,656 EUR State Street Bank Equity 2,626 13/09/2013Buy 3,005,046 USD to Sell 2,267,313 EUR Citi Bank 3,114 13/09/2013Buy 1,794,440 USD to Sell 1,855,847 CAD Citi Bank 31,258 13/09/2013


Buy 1,326,878 USD to Sell 1,243,185 CHF Citi Bank (9,555) 13/09/2013Buy 1,329,022 USD to Sell 1,243,180 CHF BNY Mellon (7,406) 13/09/2013Buy 1,296,907 USD to Sell 1,213,140 CHF State Street Bank Equity (7,227) 13/09/2013Buy 1,588,231 USD to Sell 1,024,895 GBP Citi Bank (389) 13/09/2013



Invesco US Equity FundDetails of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date







137 Invesco Funds


Invesco Japanese Value Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

JPYBuy 70,822 EUR to Sell 9,135,040 JPY BNY Mellon 73,345 09/09/2013Buy 216,779,101 JPY to Sell 1,665,685 EUR BNY Mellon 202,272 09/09/2013


Buy 37,427,950 EUR to Sell 4,916,111,711 JPY BNY Mellon (49,628,863) 09/09/2013Buy 306,840,859 JPY to Sell 2,376,124 EUR BNY Mellon (2,109,087) 09/09/2013

Total unrealised loss on open forward foreign exchange contracts (51,737,950)

Total net unrealised loss on open forward foreign exchange contracts (51,462,333)

Invesco Greater China Equity Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 774,643 EUR to Sell 1,032,652 USD BNY Mellon (7,036) 09/09/2013



Invesco Asia Infrastructure Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 339,949 EUR to Sell 453,351 USD BNY Mellon (3,264) 09/09/2013Buy 104,394 USD to Sell 79,068 EUR BNY Mellon (291) 09/09/2013



Invesco Asia Consumer Demand Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 3,034,855 EUR to Sell 4,045,279 USD BNY Mellon (27,176) 09/09/2013Buy 3,126 USD to Sell 2,367 EUR BNY Mellon (9) 09/09/2013



Invesco Energy Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 477,122 EUR to Sell 635,194 USD BNY Mellon (3,490) 09/09/2013Buy 2,944 USD to Sell 2,230 EUR BNY Mellon (8) 09/09/2013




138 Invesco Funds


Invesco Gold & Precious Metals Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 2,561,044 EUR to Sell 3,383,431 USD BNY Mellon 7,355 09/09/2013Buy 1,303,149 USD to Sell 976,570 EUR BNY Mellon 10,186 09/09/2013


Buy 1,158,323 EUR to Sell 1,543,510 USD BNY Mellon (9,907) 09/09/2013Buy 77,372 USD to Sell 58,445 EUR BNY Mellon (8) 09/09/2013



Invesco Global Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 13,923 USD to Sell 10,491 EUR BNY Mellon 34 09/09/2013Buy 3,101,580 USD to Sell 2,000,000 GBP Citi Bank 2,097 07/10/2013Buy 3,980,133 USD to Sell 3,000,000 EUR JP Morgan Chase 7,968 24/09/2013Buy 6,633,700 USD to Sell 5,000,000 EUR JP Morgan Chase 13,255 01/10/2013Buy 917,059 USD to Sell 1,000,000 AUD JP Morgan Chase 24,578 24/09/2013Buy 12,830,754 EUR to Sell 16,947,245 USD BNY Mellon 40,485 09/09/2013Buy 1,966,088 GBP to Sell 3,000,000 USD JP Morgan Chase 47,239 24/09/2013Buy 5,000,000 EUR to Sell 6,563,660 USD JP Morgan Chase 56,614 24/09/2013Buy 4,000,000 GBP to Sell 6,013,580 USD JP Morgan Chase 187,028 03/09/2013


Buy 7,444,480 USD to Sell 5,800,000 EUR JP Morgan Chase (234,635) 09/09/2013Buy 11,719,107 USD to Sell 9,000,000 EUR Citi Bank (197,094) 17/09/2013Buy 5,965,100 USD to Sell 3,971,215 GBP JP Morgan Chase (190,887) 03/09/2013Buy 3,026,220 USD to Sell 2,000,000 GBP Citi Bank (73,263) 07/10/2013Buy 5,000,000 USD to Sell 3,269,662 GBP Citi Bank (68,355) 06/09/2013Buy 2,604,842 USD to Sell 2,000,000 EUR Citi Bank (43,101) 06/09/2013Buy 3,072,960 USD to Sell 2,000,000 GBP JP Morgan Chase (26,671) 01/10/2013Buy 1,000,000 AUD to Sell 692,833 EUR JP Morgan Chase (24,868) 24/09/2013Buy 1,530,820 USD to Sell 1,000,000 GBP Royal Bank of Scotland (19,008) 30/09/2013Buy 2,000,000 GBP to Sell 3,112,680 USD Citi Bank (13,197) 07/10/2013Buy 2,000,000 GBP to Sell 3,111,080 USD JP Morgan Chase (11,598) 07/10/2013Buy 3,963,462 USD to Sell 3,000,000 EUR Royal Bank of Scotland (8,937) 09/10/2013Buy 3,964,005 USD to Sell 3,000,000 EUR JP Morgan Chase (8,410) 10/10/2013Buy 3,305,112 USD to Sell 2,500,000 EUR JP Morgan Chase (5,206) 08/10/2013Buy 81,215 EUR to Sell 108,437 USD BNY Mellon (909) 09/09/2013Buy 5,257 USD to Sell 3,981 EUR BNY Mellon (14) 09/09/2013


Total net unrealised loss on open forward foreign exchange contracts (546,855)

Invesco European Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 9,680,000 GBP to Sell 11,320,049 EUR BNY Mellon 4,323 15/11/2013Buy 5,574,833 EUR to Sell 43,700,000 NOK BNY Mellon 191,530 15/11/2013


Buy 31,032,913 EUR to Sell 26,670,000 GBP BNY Mellon (167,605) 15/11/2013Buy 6,305,357 EUR to Sell 51,470,000 NOK Citi Bank (35,114) 15/11/2013




139 Invesco Funds


Invesco Absolute Return Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 316,818 EUR to Sell 390,000 CHF BNY Mellon 155 18/09/2013Buy 411,012 USD to Sell 460,000 AUD Goldman Sachs 233 18/09/2013Buy 109,084 USD to Sell 70,000 GBP BNY Mellon 443 18/09/2013Buy 134,217 USD to Sell 170,000 SGD BNY Mellon 619 18/09/2013Buy 3,700,000 MXN to Sell 351,796 SGD BNY Mellon 870 18/09/2013Buy 330,000 GBP to Sell 384,341 EUR BNY Mellon 1,974 18/09/2013Buy 72,450,000 JPY to Sell 555,109 EUR BNY Mellon 2,107 18/09/2013Buy 90,593 GBP to Sell 103,853 EUR BNY Mellon 2,211 09/09/2013Buy 376,976 EUR to Sell 320,000 GBP BNY Mellon 2,368 18/09/2013Buy 20,100,000 JPY to Sell 201,475 USD BNY Mellon 2,421 18/09/2013Buy 1,080,000 SGD to Sell 842,746 USD BNY Mellon 3,562 18/09/2013Buy 108,919 EUR to Sell 850,000 NOK BNY Mellon 3,955 18/09/2013Buy 200,000 GBP to Sell 304,748 USD BNY Mellon 3,962 18/09/2013Buy 1,096,745 USD to Sell 7,210,000 SEK BNY Mellon 4,991 18/09/2013Buy 1,535,925 USD to Sell 1,152,102 EUR BNY Mellon 7,939 18/09/2013Buy 279,454 USD to Sell 880,000 MYR BNY Mellon 9,315 18/09/2013Buy 563,624 USD to Sell 7,350,000 MXN BNY Mellon 9,792 18/09/2013Buy 849,890 USD to Sell 82,073,338 JPY BNY Mellon 10,669 18/09/2013Buy 1,228,758 USD to Sell 1,270,000 CAD BNY Mellon 16,859 18/09/2013Buy 1,049,922 USD to Sell 1,320,000 NZD BNY Mellon 19,337 18/09/2013Buy 775,066 USD to Sell 4,530,000 NOK BNY Mellon 25,984 18/09/2013Buy 7,923,239 EUR to Sell 10,351,859 USD BNY Mellon 104,774 18/09/2013Buy 2,774,685 USD to Sell 2,900,000 AUD BNY Mellon 140,079 18/09/2013


Buy 1,600,000 AUD to Sell 1,503,497 USD BNY Mellon (56,617) 18/09/2013Buy 3,270,536 USD to Sell 2,150,742 GBP BNY Mellon (47,623) 18/09/2013Buy 5,130,000 NOK to Sell 663,652 EUR BNY Mellon (30,159) 18/09/2013Buy 1,007,362 USD to Sell 101,133,080 JPY BNY Mellon (16,986) 18/09/2013Buy 1,506,478 EUR to Sell 1,297,213 GBP BNY Mellon (12,104) 18/09/2013Buy 1,490,852 EUR to Sell 1,989,094 USD BNY Mellon (11,454) 18/09/2013Buy 68,650,000 JPY to Sell 713,991 USD BNY Mellon (11,267) 18/09/2013Buy 480,000 AUD to Sell 561,830 SGD BNY Mellon (9,291) 18/09/2013Buy 487,946 USD to Sell 465,000 CHF BNY Mellon (9,027) 18/09/2013Buy 1,100,000 PEN to Sell 401,826 USD BNY Mellon (8,295) 18/09/2013Buy 880,000 MYR to Sell 277,953 USD BNY Mellon (8,182) 18/09/2013Buy 548,827 USD to Sell 621,750,000 KRW BNY Mellon (7,776) 23/09/2013Buy 3,650,000 MXN to Sell 282,427 USD BNY Mellon (6,775) 18/09/2013Buy 640,664 USD to Sell 490,309 EUR BNY Mellon (6,433) 18/09/2013Buy 680,000 GBP to Sell 1,060,253 USD BNY Mellon (4,737) 18/09/2013Buy 600,000 CAD to Sell 575,229 USD BNY Mellon (3,972) 18/09/2013Buy 660,000 NZD to Sell 517,410 USD BNY Mellon (3,965) 18/09/2013Buy 7,210,000 SEK to Sell 826,560 EUR BNY Mellon (3,211) 18/09/2013Buy 325,915 EUR to Sell 1,400,000 PLN BNY Mellon (2,421) 18/09/2013Buy 426,024 USD to Sell 2,650,000 CNY BNY Mellon (2,398) 21/11/2013Buy 533,570 EUR to Sell 660,000 CHF BNY Mellon (2,320) 18/09/2013Buy 346,301 EUR to Sell 2,820,000 NOK Citi Bank (1,935) 18/09/2013Buy 1,400,000 PLN to Sell 330,017 EUR BNY Mellon (1,682) 18/09/2013Buy 215,398 USD to Sell 280,000 NZD BNY Mellon (1,421) 18/09/2013Buy 460,000 CHF to Sell 374,366 EUR BNY Mellon (867) 18/09/2013Buy 40,000 CAD to Sell 29,193 EUR BNY Mellon (495) 18/09/2013Buy 132,513 USD to Sell 140,000 CAD BNY Mellon (363) 18/09/2013Buy 130,000 GBP to Sell 152,505 EUR BNY Mellon (321) 18/09/2013Buy 390,764 USD to Sell 1,100,000 PEN BNY Mellon (60) 18/09/2013




140 Invesco Funds


Invesco UK Investment Grade Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

GBPBuy 4,898,537 GBP to Sell 5,700,000 EUR BNY Mellon 30,213 04/09/2013Buy 3,290,643 GBP to Sell 5,000,000 USD BNY Mellon 65,128 04/09/2013


Buy 400,000 USD to Sell 262,614 GBP BNY Mellon (4,573) 04/09/2013Buy 375,000 EUR to Sell 321,281 GBP BNY Mellon (997) 04/09/2013



Invesco Emerging Local Currencies Debt Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 1,293 USD to Sell 968 EUR BNY Mellon 11 06/09/2013Buy 6,200,000 USD to Sell 63,566,120 ZAR Barclays 97,444 28/10/2013Buy 21,246,000 USD to Sell 23,743,853 AUD Citi Bank 124,126 12/11/2013Buy 19,673,562 USD to Sell 14,746,193 EUR BNY Mellon 149,820 09/09/2013Buy 157,727,803 EUR to Sell 208,331,712 USD BNY Mellon 497,574 09/09/2013Buy 9,550,000 USD to Sell 10,121,887 AUD Barclays 511,650 16/09/2013

Total unrealised gain on open forward foreign exchange contracts 1,380,625

Buy 175,654,490 ZAR to Sell 17,900,000 USD Barclays (1,036,594) 28/10/2013Buy 1,878,198,841 JPY to Sell 19,923,400 USD Barclays (797,954) 12/09/2013Buy 23,743,853 AUD to Sell 21,673,389 USD Citi Bank (551,515) 12/11/2013Buy 10,121,887 AUD to Sell 9,279,644 USD Barclays (241,295) 16/09/2013Buy 13,029,600 USD to Sell 10,000,000 EUR Citi Bank (210,067) 05/09/2013Buy 5,662,660 USD to Sell 4,410,000 EUR Barclays (176,911) 15/10/2013Buy 11,225,752 USD to Sell 8,600,000 EUR Barclays (160,282) 03/09/2013Buy 19,000,000 USD to Sell 1,878,203,200 JPY Barclays (125,490) 12/09/2013Buy 5,853,971 EUR to Sell 7,795,478 USD BNY Mellon (44,906) 09/09/2013Buy 930,727 USD to Sell 704,403 EUR BNY Mellon (1,892) 09/09/2013Buy 74,718 EUR to Sell 100,034 USD BNY Mellon (1,110) 06/09/2013



Invesco Global Investment Grade Corporate Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 1,873 USD to Sell 1,196 GBP BNY Mellon 19 09/09/2013Buy 1,019,295 USD to Sell 100,000,000 JPY BNY Mellon 435 17/12/2013Buy 433,933 USD to Sell 325,350 EUR BNY Mellon 3,175 09/09/2013Buy 101,580 GBP to Sell 153,910 USD BNY Mellon 3,548 09/09/2013Buy 8,091,000 USD to Sell 5,220,000 GBP BNY Mellon 5,313 17/12/2013Buy 1,872,989 USD to Sell 1,200,000 GBP BNY Mellon 12,806 03/09/2013Buy 2,397,768 USD to Sell 1,800,000 EUR BNY Mellon 14,645 03/09/2013Buy 16,533,174 USD to Sell 12,460,000 EUR BNY Mellon 29,969 17/12/2013Buy 12,171,756 EUR to Sell 16,076,820 USD BNY Mellon 38,405 09/09/2013


Buy 15,791,202 USD to Sell 12,200,000 EUR BNY Mellon (361,079) 03/09/2013Buy 6,079,801 USD to Sell 4,020,000 GBP BNY Mellon (151,810) 03/09/2013Buy 1,010,950 USD to Sell 100,000,000 JPY BNY Mellon (7,295) 03/09/2013Buy 1,540,000 EUR to Sell 2,045,320 USD BNY Mellon (6,426) 03/09/2013Buy 661,300 USD to Sell 500,000 EUR BNY Mellon (947) 17/12/2013Buy 967,294 USD to Sell 730,800 EUR BNY Mellon (274) 09/09/2013Buy 6,356 EUR to Sell 8,503 USD BNY Mellon (88) 09/09/2013




141 Invesco Funds


Invesco Global Unconstrained Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

GBPBuy 43,014 GBP to Sell 50,000 EUR JP Morgan Chase 300 24/09/2013Buy 43,072 GBP to Sell 50,000 EUR Citi Bank 358 23/09/2013Buy 43,135 GBP to Sell 50,000 EUR Citi Bank 424 17/09/2013Buy 200,000 GBP to Sell 30,348,000 JPY JP Morgan Chase 568 07/10/2013Buy 513,345 GBP to Sell 600,000 EUR JP Morgan Chase 896 03/09/2013Buy 86,386 GBP to Sell 100,000 EUR Royal Bank of Scotland 952 30/09/2013Buy 130,824 GBP to Sell 150,000 EUR JP Morgan Chase 2,657 10/10/2013Buy 130,830 GBP to Sell 150,000 EUR Royal Bank of Scotland 2,665 09/10/2013Buy 165,641 GBP to Sell 250,000 USD JP Morgan Chase 4,323 07/10/2013Buy 518,190 GBP to Sell 600,000 EUR JP Morgan Chase 5,367 05/11/2013Buy 297,401 GBP to Sell 450,000 USD Citi Bank 7,030 07/10/2013


Buy 1,120,442 EUR to Sell 979,312 GBP BNY Mellon (22,297) 09/09/2013Buy 600,000 EUR to Sell 517,852 GBP JP Morgan Chase (5,403) 03/09/2013Buy 353,685 GBP to Sell 550,000 USD JP Morgan Chase (1,235) 15/10/2013Buy 116,039 GBP to Sell 17,758,100 JPY JP Morgan Chase (638) 24/09/2013Buy 200,000 GBP to Sell 234,252 EUR JP Morgan Chase (149) 07/10/2013



Invesco Global Total Return (EUR) Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 1,172,003 EUR to Sell 1,000,000 GBP Royal Bank of Scotland 1,810 21/10/2013Buy 1,174,212 EUR to Sell 1,000,000 GBP Citi Bank 3,404 06/09/2013Buy 3,427,966 EUR to Sell 4,500,000 USD JP Morgan Chase 29,315 24/09/2013Buy 3,442,249 EUR to Sell 4,500,000 USD JP Morgan Chase 43,503 16/09/2013Buy 3,455,895 EUR to Sell 4,500,000 USD Citi Bank 57,161 17/09/2013


Buy 8,239,408 EUR to Sell 11,000,000 USD Royal Bank of Scotland (67,502) 21/10/2013Buy 746,936 EUR to Sell 1,000,000 USD JP Morgan Chase (8,256) 15/10/2013Buy 747,574 EUR to Sell 1,000,000 USD JP Morgan Chase (7,554) 05/11/2013Buy 1,507,454 EUR to Sell 2,000,000 USD JP Morgan Chase (3,018) 01/10/2013



Invesco Emerging Market Corporate Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 2,532,078 EUR to Sell 3,374,166 USD BNY Mellon (21,730) 09/09/2013Buy 74,718 EUR to Sell 100,034 USD BNY Mellon (1,110) 06/09/2013Buy 12,363 USD to Sell 9,341 EUR BNY Mellon (4) 09/09/2013



Invesco Euro Short Term Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 2,140,736 EUR to Sell 1,860,000 GBP BNY Mellon (35,567) 31/10/2013Buy 1,036,063 EUR to Sell 1,375,000 USD BNY Mellon (2,259) 31/10/2013



Invesco Asian Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Loss Maturity Date

USDBuy 2,324 USD to Sell 1,484 GBP BNY Mellon 24 09/09/2013Buy 96,208 GBP to Sell 145,770 USD BNY Mellon 3,360 09/09/2013




142 Invesco Funds


Invesco US High Yield Bond Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date



Buy 2,553,597 EUR to Sell 3,405,645 USD BNY Mellon (24,721) 09/09/2013



Invesco Capital Shield 90 (EUR) Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 23,500,000 JPY to Sell 180,618 EUR Goldman Sachs 121 13/09/2013Buy 187,423 EUR to Sell 159,000 GBP Royal Bank of Scotland 1,280 13/09/2013Buy 143,024 EUR to Sell 18,200,000 JPY Royal Bank of Scotland 3,048 13/09/2013Buy 330,444 EUR to Sell 42,400,000 JPY BNY Mellon 4,345 13/09/2013Buy 68,222,000 JPY to Sell 518,530 EUR BNY Mellon 6,165 13/09/2013Buy 2,259,087 EUR to Sell 2,955,838 USD BNY Mellon 26,587 13/09/2013


Buy 16,994,489 EUR to Sell 22,574,766 USD Citi Bank (55,889) 13/09/2013Buy 3,465,312 USD to Sell 2,639,832 EUR BNY Mellon (22,534) 13/09/2013Buy 855,404 EUR to Sell 113,300,000 JPY Goldman Sachs (15,986) 13/09/2013Buy 40,300,000 JPY to Sell 317,738 EUR Goldman Sachs (7,791) 13/09/2013Buy 495,469 EUR to Sell 427,000 GBP Citi Bank (4,426) 13/09/2013Buy 21,100,000 JPY to Sell 164,160 EUR BNY Mellon (1,880) 13/09/2013Buy 213,649 EUR to Sell 27,900,000 JPY BNY Mellon (930) 13/09/2013Buy 112,461 EUR to Sell 150,000 USD BNY Mellon (832) 13/09/2013Buy 81,000 GBP to Sell 95,319 EUR Royal Bank of Scotland (491) 13/09/2013Buy 100,000 GBP to Sell 117,258 EUR BNY Mellon (186) 13/09/2013



Invesco Asia Balanced Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

USDBuy 1,255 USD to Sell 938 EUR BNY Mellon 13 06/09/2013Buy 2,232,557 USD to Sell 1,670,798 EUR BNY Mellon 20,445 09/09/2013Buy 27,064,126 EUR to Sell 35,747,108 USD BNY Mellon 85,395 09/09/2013


Buy 84,427,925 USD to Sell 95,000,000 AUD Goldman Sachs (441,529) 09/09/2013Buy 309,905 EUR to Sell 412,861 USD BNY Mellon (2,549) 09/09/2013Buy 74,718 EUR to Sell 100,034 USD BNY Mellon (1,110) 06/09/2013




143 Invesco Funds


Invesco Pan European High Income Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 5,279,059 EUR to Sell 6,500,000 CHF JP Morgan Chase 689 15/10/2013Buy 161,102 EUR to Sell 1,400,000 SEK JP Morgan Chase 1,438 05/11/2013Buy 1,944,552 EUR to Sell 17,000,000 SEK Citi Bank 4,225 07/10/2013Buy 2,441,365 EUR to Sell 3,000,000 CHF JP Morgan Chase 4,953 05/11/2013Buy 2,348,424 EUR to Sell 2,000,000 GBP Citi Bank 6,808 06/09/2013Buy 5,860,016 EUR to Sell 5,000,000 GBP Royal Bank of Scotland 9,049 21/10/2013Buy 1,000,000 GBP to Sell 1,158,632 EUR JP Morgan Chase 12,216 03/09/2013Buy 1,918,699 EUR to Sell 16,626,000 SEK Royal Bank of Scotland 21,813 21/10/2013Buy 4,606,805 EUR to Sell 6,000,000 USD Citi Bank 74,985 06/09/2013Buy 6,232,806 EUR to Sell 8,000,000 USD JP Morgan Chase 190,443 09/09/2013


Buy 11,448,983 EUR to Sell 10,000,000 GBP Citi Bank (254,933) 07/10/2013Buy 4,050,218 EUR to Sell 3,500,000 GBP JP Morgan Chase (47,149) 16/09/2013Buy 5,226,875 EUR to Sell 4,500,000 GBP JP Morgan Chase (39,377) 15/10/2013Buy 3,473,991 EUR to Sell 3,000,000 GBP JP Morgan Chase (37,439) 01/10/2013Buy 4,998,307 EUR to Sell 6,200,000 CHF Royal Bank of Scotland (36,587) 21/10/2013Buy 1,738,749 EUR to Sell 1,500,000 GBP Citi Bank (17,245) 17/09/2013Buy 1,741,281 EUR to Sell 1,500,000 GBP Citi Bank (14,595) 23/09/2013Buy 1,157,876 EUR to Sell 1,000,000 GBP JP Morgan Chase (12,118) 05/11/2013Buy 1,618,412 EUR to Sell 2,000,000 CHF Citi Bank (5,641) 07/10/2013Buy 1,504,881 EUR to Sell 2,000,000 USD Royal Bank of Scotland (5,466) 21/10/2013Buy 3,000,000 CHF to Sell 2,440,625 EUR JP Morgan Chase (4,927) 03/09/2013Buy 581,200 EUR to Sell 500,000 GBP JP Morgan Chase (4,085) 24/09/2013Buy 605,259 EUR to Sell 750,000 CHF JP Morgan Chase (3,703) 16/09/2013Buy 809,684 EUR to Sell 1,000,000 CHF Royal Bank of Scotland (2,316) 30/09/2013Buy 1,168,805 EUR to Sell 1,000,000 GBP JP Morgan Chase (2,043) 03/09/2013Buy 404,494 EUR to Sell 500,000 CHF Citi Bank (1,493) 23/09/2013Buy 404,555 EUR to Sell 500,000 CHF JP Morgan Chase (1,434) 24/09/2013Buy 2,435,294 EUR to Sell 3,000,000 CHF JP Morgan Chase (404) 03/09/2013



Invesco Global Absolute Return Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 264,897 EUR to Sell 34,186,730 JPY BNY Mellon 1,969 09/09/2013Buy 4,817,129 EUR to Sell 6,700,000 CAD BNY Mellon 11,311 27/09/2013Buy 2,956,339,833 JPY to Sell 22,546,551 EUR BNY Mellon 190,557 09/09/2013


Buy 255,923 EUR to Sell 33,402,635 JPY BNY Mellon (976) 09/09/2013Buy 998,939 EUR to Sell 130,000,000 JPY BNY Mellon (905) 27/09/2013Buy 3,549,021 EUR to Sell 4,700,000 USD BNY Mellon (644) 27/09/2013Buy 2,808,890 EUR to Sell 2,400,000 GBP BNY Mellon (385) 27/09/2013Buy 78,467 USD to Sell 59,408 EUR BNY Mellon (142) 09/09/2013Buy 1,350 EUR to Sell 1,807 USD BNY Mellon (15) 09/09/2013



Invesco Balanced-Risk Allocation Fund Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 64,502 GBP to Sell 75,457 EUR BNY Mellon 62 06/09/2013Buy 264,787 EUR to Sell 350,475 USD BNY Mellon 75 09/09/2013Buy 789,844 EUR to Sell 1,100,000 CAD Goldman Sachs 514 13/09/2013Buy 526,559 EUR to Sell 449,201 GBP BNY Mellon 649 09/09/2013Buy 101,204 USD to Sell 75,593 EUR BNY Mellon 846 06/09/2013Buy 2,900,000 AUD to Sell 1,954,238 EUR Royal Bank of Scotland 2,002 13/09/2013Buy 2,000,000 AUD to Sell 1,345,704 EUR Citi Bank 3,427 13/09/2013Buy 40,900,000 HKD to Sell 3,976,607 EUR Citi Bank 6,735 13/09/2013Buy 4,500,000 GBP to Sell 5,260,746 EUR Royal Bank of Scotland 7,475 13/09/2013Buy 2,249,887 USD to Sell 1,690,680 EUR BNY Mellon 8,650 09/09/2013Buy 3,700,000 AUD to Sell 2,485,432 EUR Goldman Sachs 10,461 13/09/2013Buy 3,792,288 EUR to Sell 491,600,000 JPY Goldman Sachs 11,394 13/09/2013Buy 22,700,000 CAD to Sell 16,268,039 EUR Citi Bank 20,859 13/09/2013Buy 1,600,000 GBP to Sell 1,850,460 EUR Citi Bank 22,685 13/09/2013


144 Invesco Funds


Invesco Balanced-Risk Allocation Fund (continued) Unrealised Details of Forward Foreign Exchange Contracts Counterparty Gain/(Loss) Maturity Date

EURBuy 1,369,578 EUR to Sell 13,742,000 HKD Citi Bank 31,214 13/09/2013Buy 8,050,924 EUR to Sell 82,282,000 HKD BNY Mellon 37,295 13/09/2013Buy 35,900,000 HKD to Sell 3,457,104 EUR Goldman Sachs 39,277 13/09/2013Buy 1,745,000,000 JPY to Sell 13,380,498 EUR Citi Bank 40,293 13/09/2013Buy 2,126,700,000 JPY to Sell 16,297,532 EUR Goldman Sachs 58,913 13/09/2013Buy 24,678,577 USD to Sell 18,577,250 EUR BNY Mellon 62,104 13/09/2013Buy 11,714,724 EUR to Sell 1,514,100,000 JPY Citi Bank 69,785 13/09/2013Buy 141,672,000 HKD to Sell 13,722,742 EUR BNY Mellon 75,011 13/09/2013Buy 23,498,545 EUR to Sell 20,000,000 GBP BNY Mellon 84,232 13/09/2013Buy 20,482,029 EUR to Sell 27,000,000 USD BNY Mellon 89,337 13/09/2013Buy 4,298,743 EUR to Sell 42,743,000 HKD Goldman Sachs 135,906 13/09/2013Buy 10,055,039 EUR to Sell 13,737,000 CAD Citi Bank 197,743 13/09/2013Buy 13,346,334 EUR to Sell 1,703,300,000 JPY Royal Bank of Scotland 246,258 13/09/2013Buy 27,700,000 GBP to Sell 32,164,224 EUR Goldman Sachs 264,600 13/09/2013Buy 44,514,803 EUR to Sell 37,764,000 GBP Royal Bank of Scotland 303,897 13/09/2013Buy 12,059,323 EUR to Sell 16,331,000 CAD Royal Bank of Scotland 340,644 13/09/2013Buy 27,752,110 GBP to Sell 32,130,752 EUR BNY Mellon 359,077 13/09/2013Buy 25,425,288 EUR to Sell 34,900,000 CAD BNY Mellon 382,003 13/09/2013Buy 21,580,453 EUR to Sell 31,247,000 AUD Citi Bank 502,301 13/09/2013Buy 32,685,116 EUR to Sell 4,178,799,999 JPY BNY Mellon 545,975 13/09/2013Buy 45,777,342 GBP to Sell 52,504,250 EUR BNY Mellon 1,090,415 09/09/2013Buy 33,315,321 EUR to Sell 47,409,000 AUD BNY Mellon 1,334,841 13/09/2013

Total unrealised gain on open forward foreign exchange contracts 6,386,955

Buy 1,204,319,501 EUR to Sell 1,600,127,579 USD Citi Bank (4,232,577) 13/09/2013Buy 132,028,000 USD to Sell 101,349,505 EUR Citi Bank (1,630,759) 13/09/2013Buy 46,929,000 AUD to Sell 32,968,103 EUR Citi Bank (1,311,414) 13/09/2013Buy 6,048,700,001 JPY to Sell 47,676,596 EUR Goldman Sachs (1,156,056) 13/09/2013Buy 60,000,000 USD to Sell 46,413,751 EUR BNY Mellon (1,096,661) 13/09/2013Buy 28,493,000 CAD to Sell 20,906,120 EUR Citi Bank (460,322) 13/09/2013Buy 29,463,011 EUR to Sell 3,885,499,999 JPY Goldman Sachs (420,360) 13/09/2013Buy 36,991,162 EUR to Sell 31,950,000 GBP Goldman Sachs (413,204) 13/09/2013Buy 193,183,734 USD to Sell 146,256,380 EUR BNY Mellon (345,591) 09/09/2013Buy 30,986,796 EUR to Sell 26,690,000 GBP Citi Bank (259,605) 13/09/2013Buy 45,486,000 GBP to Sell 53,500,966 EUR Royal Bank of Scotland (249,793) 13/09/2013Buy 153,925,000 HKD to Sell 15,238,439 EUR BNY Mellon (247,340) 13/09/2013Buy 20,403,000 CAD to Sell 14,877,110 EUR Goldman Sachs (236,474) 13/09/2013Buy 31,505,720 EUR to Sell 42,000,000 USD BNY Mellon (216,243) 13/09/2013Buy 19,729,355 EUR to Sell 27,700,000 CAD Citi Bank (147,407) 13/09/2013Buy 38,901,199 EUR to Sell 400,513,000 HKD BNY Mellon (105,658) 13/09/2013Buy 7,400,000 AUD to Sell 5,071,898 EUR BNY Mellon (80,112) 13/09/2013Buy 8,568,664 EUR to Sell 12,800,000 AUD Citi Bank (65,776) 13/09/2013Buy 27,214,357 EUR to Sell 23,300,000 GBP BNY Mellon (63,318) 13/09/2013Buy 9,992,653 EUR to Sell 1,306,900,000 JPY BNY Mellon (58,712) 13/09/2013Buy 5,100,000 CAD to Sell 3,717,236 EUR BNY Mellon (57,616) 13/09/2013Buy 3,272,247 EUR to Sell 431,400,000 JPY Citi Bank (45,649) 13/09/2013Buy 4,604,860 EUR to Sell 6,143,386 USD BNY Mellon (35,211) 09/09/2013Buy 8,437,000 GBP to Sell 9,908,734 EUR Citi Bank (31,406) 13/09/2013Buy 8,281,661 EUR to Sell 7,100,000 GBP Royal Bank of Scotland (30,420) 13/09/2013Buy 4,222,938 EUR to Sell 43,600,000 HKD Goldman Sachs (23,363) 13/09/2013Buy 2,274,181 EUR to Sell 3,200,000 CAD BNY Mellon (22,052) 13/09/2013Buy 3,019,547 EUR to Sell 4,500,000 AUD Goldman Sachs (15,999) 13/09/2013Buy 3,100,000 AUD to Sell 2,097,521 EUR Goldman Sachs (6,368) 13/09/2013Buy 706,586 EUR to Sell 607,883 GBP BNY Mellon (5,106) 09/09/2013Buy 937,800,000 JPY to Sell 7,215,123 EUR BNY Mellon (2,505) 13/09/2013Buy 272,000,000 JPY to Sell 2,093,993 EUR Royal Bank of Scotland (2,041) 13/09/2013Buy 486,488 GBP to Sell 570,163 EUR BNY Mellon (599) 09/09/2013Buy 600,000 GBP to Sell 702,817 EUR BNY Mellon (387) 13/09/2013




145 Invesco Funds

8. Futures contractsDescription Number of Contracts Commitment in Long/Short Unrealised

sub-fund Base Ccy Gain/(Loss) insub-fund Base Ccy

Invesco Global Structured Equity Fund USD USDS&P 500 Emini Future 20/09/2013 72 5,907,150 Long (40,963)Euro Stoxx 50 Future 20/09/2013 54 1,962,117 Long (39,225)Nikkei 225 Future 12/09/2013 14 951,710 Long (6,556)FTSE 100 Index Future 20/09/2013 10 1,000,422 Long (1,701)

Total unrealised loss on futures contracts (88,445)


Invesco Emerging Market Quantitative Equity Fund USD USDE-Mini MSCI Emerging Future 20/09/2013 66 3,035,670 Long 49,430

Total unrealised gain on futures contracts 49,430


Invesco US Structured Equity Fund USD USDS&P 500 Emini Future 20/09/2013 12 984,525 Long (8,875)



Invesco Pan European Structured Equity Fund EUR EUREuro Stoxx 50 Future 20/09/2013 1,145 31,424,525 Long (339,315)FTSE 100 Index Future 20/09/2013 264 19,948,904 Long (324,132)



Invesco Global Bond Fund USD USDEuro Bond Future 06/09/2013 (20) (3,724,373) Short 90,432


US Long Bond (CBT) Future 19/12/2013 (40) (5,268,125) Short (16,814)US 10 Year Note (CBT) Future 19/12/2013 (20) (2,484,531) Short (1,899)


Total net unrealised gain on futures contracts 71,719

Invesco European Bond Fund EUR EUREuro Buxl 30 Year Bond 06/09/2013 (18) (2,253,240) Short 70,560Euro-Btp Future 06/09/2013 (12) (1,339,740) Short 4,511


Euro Bond Future 06/09/2013 (102) (14,346,810) Short (36,020)



Invesco Absolute Return Bond Fund EUR EUREuro Bond Future 06/09/2013 (22) (3,094,410) Short 38,030US 10 Year Note (CBT) Future 19/12/2013 (16) (1,501,297) Short 941US 5 Year Note (CBT) Future 31/12/2013 (2) (180,693) Short 18


Canada 10 Year Bond Future 18/12/2013 (9) (831,270) Short (8,846)Long Gilt Future 27/12/2013 (8) (1,025,568) Short (3,651)US Long Bond (CBT) Future 19/12/2013 (2) (198,956) Short (638)



Invesco Euro Inflation-Linked Bond Fund EUR EUREuro Bond Future 06/09/2013 (6) (843,930) Short (510)

Total unrealised loss on futures contracts (510)

Total unrealised loss on futures contracts (510)


146 Invesco Funds

8. Futures contracts (continued)

Invesco Euro Corporate Bond Fund EUR EUREuro Bond Future 06/09/2013 (3,540) (497,918,700) Short 9,279,929

Total unrealised gain on futures contracts 9,279,929


Invesco UK Investment Grade Bond Fund GBP GBPEuro-Bobl Future 06/09/2013 (19) (2,029,409) Short 16,558Long Gilt Future 27/12/2013 20 2,189,700 Long 6,900Euro-Schatz Future 06/09/2013 (8) (754,035) Short 1,081US 10 Year Note (CBT) Future 19/12/2013 (20) (1,602,717) Short 1,007



Invesco Global Investment Grade Corporate Bond Fund USD USDLong Gilt Future 27/12/2013 28 4,752,262 Long 11,312US Long Bond (CBT) Future 19/12/2013 23 3,029,172 Long 8,266Canada 10 Year Bond Future 18/12/2013 4 489,133 Long 5,453US Ultra Bond (CBT) Future 19/12/2013 26 3,652,594 Long 3,859US 2 Year Note (CBT) Future 31/12/2013 (32) (7,029,250) Short 1,250


Euro Bond Future 06/09/2013 (5) (931,093) Short (4,805)Australia 10 Year Bond Future 16/09/2013 11 1,153,665 Long (4,126)US 10 Year Note (CBT) Future 19/12/2013 (17) (2,111,852) Short (3,055)Euro-Bobl Future 06/09/2013 (20) (3,311,568) Short (1,145)



Invesco Global Unconstrained Bond Fund GBP GBPUS Long Bond (CBT) Future 19/12/2013 (6) (509,753) Short (1,627)Long Gilt Future 27/12/2013 (1) (109,485) Short (471)



Invesco Global Total Return (EUR) Bond Fund EUR EUREuro Bond Future 06/09/2013 (50) (7,032,750) Short 24,449



Invesco Emerging Market Corporate Bond Fund USD USDUS 10 Year Note (CBT) Future 19/12/2013 (110) (13,664,922) Short (19,766)



Invesco Euro Short Term Bond Fund EUR EUREuro Bond Future 06/09/2013 (10) (1,406,550) Short 17,000Euro-Bobl Future 06/09/2013 (9) (1,125,585) Short 6,885Euro-Schatz Future 06/09/2013 30 3,310,875 Long 1,575


Long Gilt Future 27/12/2013 (8) (1,025,568) Short (3,650)



Invesco Capital Shield 90 (EUR) Fund EUR EUR10 Year Mini JGB Future 09/09/2013 130 14,429,331 Long 82,447Euro Stoxx 50 Future 20/09/2013 124 3,403,180 Long 42,609


Nikkei 225 Future 12/09/2013 72 3,696,932 Long (230,539)Euro Bond Future 06/09/2013 102 14,346,810 Long (204,810)S&P 500 Emini Future 20/09/2013 95 5,887,097 Long (104,186)FTSE 100 Index Future 20/09/2013 47 3,551,509 Long (698)


Total net unrealised loss on futures contracts (415,177)


147 Invesco Funds

8. Futures contracts (continued)

Invesco Global Absolute Return Fund EUR EUREuro Stoxx 50 Future 20/09/2013 139 3,814,855 Long 62,91710 Year Mini JGB Future 09/09/2013 79 8,768,593 Long 52,588FTSE 100 Index Future 20/09/2013 25 1,889,101 Long 21,236


S&P 500 Emini Future 20/09/2013 70 4,337,861 Long (9,940)Nikkei 225 Future 12/09/2013 31 1,591,734 Long (1,563)



Invesco Balanced-Risk Allocation Fund EUR EUREuro Stoxx 50 Future 20/09/2013 11,050 303,267,250 Long 11,140,667FTSE 100 Index Future 20/09/2013 3,930 296,966,644 Long 9,628,742Russell 2000 Mini Future 20/09/2013 2,860 221,584,630 Long 8,503,598Long Gilt Future 27/12/2013 3,620 464,069,471 Long 5,669,949Japan 10 Year Bond 10/09/2013 426 472,887,215 Long 4,405,358Canada 10 Year Bond Future 18/12/2013 5,845 539,863,739 Long 2,435,118S&P 500 Emini Future 20/09/2013 4,310 267,088,289 Long 2,282,490US Long Bond (CBT) Future 19/12/2013 2,755 274,062,588 Long 1,099,019Topix Index Future 12/09/2013 3,280 278,180,849 Long 594,427


Australia 10 Year Bond Future 16/09/2013 7,540 597,297,029 Long (20,805,051)Euro Bond Future 06/09/2013 5,410 760,943,550 Long (12,866,023)Hang Seng Index Future 27/09/2013 1,620 170,054,562 Long (2,389,123)

Total unrealised loss on futures contracts (36,060,197)

Total net unrealised gain on futures contracts 9,699,171

9. Credit Default Swaps

Purchase/Sale Deal Expiry Nominal Currency Unrealisedof protection Denomination Counterparty Spread Date Value Gain/(Loss)

in sub-fundBase Ccy

Invesco Euro Corporate Bond Fund EURPurchase French Republic JP Morgan 0.25% 20/12/2017 150,000,000 USD 1,549,520Purchase French Republic Credit Suisse 0.25% 20/12/2015 100,000,000 USD 48,572

Total unrealised gain on credit default swaps 1,598,092

Sale Telecom Italia Spa Credit Suisse 1.00% 20/06/2017 10,000,000 EUR (724,191)Sale Telefonica JP Morgan 1.00% 20/09/2016 15,000,000 EUR (189,216)Sale Telefonica Deutsche Bank 1.00% 20/09/2016 10,000,000 EUR (126,144)

Total unrealised loss on credit default swaps (1,039,551)

Total net unrealised gain on credit default swaps 558,541

Purchase/Sale Deal Expiry Nominal Currency Unrealisedof protection Denomination Counterparty Spread Date Value (Loss)

in sub-fundBase Ccy

Invesco Global Investment Grade Corporate Bond Fund USDPurchase Markit Itraxx Europe Morgan Stanley 1.00% 20/06/2018 2,500,000 EUR 9,111Purchase Markit Itraxx Europe Morgan Stanley 1.00% 20/06/2018 2,000,000 EUR 7,288Purchase Markit Itraxx Europe Morgan Stanley 1.00% 20/06/2018 2,000,000 EUR 7,288

Total unrealised gain on credit default swaps 23,687

Purchase Markit Itraxx Europe Morgan Stanley 5.00% 20/06/2018 600,000 EUR (97,885)Sale Markit Itraxx Europe Morgan Stanley 1.00% 20/06/2018 1,000,000 EUR (28,891)

Total unrealised loss on credit default swaps (126,776)

Total net unrealised loss on credit default swaps (103,089)



9. Credit Default Swaps (continued)

Purchase/Sale Deal Expiry Nominal Currency Unrealisedof protection Denomination Counterparty Spread Date Value Gain

in sub-fundBase Ccy

Invesco Global Unconstrained Bond Fund GBPPurchase Markit Itraxx Europe Credit Suisse 5.00% 20/06/2018 250,000 EUR (6,254)Purchase Markit Itraxx Europe Morgan Stanley 5.00% 20/06/2018 125,000 EUR (3,127)Purchase Markit Itraxx Europe CITI 5.00% 20/06/2018 125,000 EUR (3,127)



Purchase/Sale Deal Expiry Nominal Currency Unrealisedof protection Denomination Counterparty Spread Date Value Gain

in sub-fundBase Ccy

Invesco Global Total Return (EUR) Bond Fund EURSale Telecom Italia Spa Deutsche Bank 1.00% 20/03/2018 2,000,000 EUR (199,992)Sale Telecom Italia Spa Credit Suisse 1.00% 20/06/2017 500,000 EUR (36,210)



10. Interest Rate Swaps There are no open interest rate swaps contracts as at 31 August 2013.

11. Equity Swaps

The counterparty for the below Equity Swaps is Morgan Stanley.

Underlying Quantity of Currency Commitment Commitment UnrealisedEquities underlying in Local Ccy as % of NAV Gain/(Loss) in

shares of the sub-fund sub-fund Base CcyInvesco Global Absolute Return Fund EURACI Worldwide Inc (2,100) USD (104,653) (0.15%) 1,706Activision Blizzard Inc 29,900 USD 500,675 0.70% 33,461AGL Resources Inc (18,500) USD (815,942) (1.15%) 16,463AltaGas Ltd (19,700) CAD (702,206) (0.94%) 23,133Amazon.com Inc (3,400) USD (965,839) (1.36%) 63,048Amgen Inc 9,800 USD 1,066,778 1.50% 33,515Ariad Pharmaceuticals Inc (21,300) USD (396,713) (0.56%) 14,990Azimut Holding SpA 16,305 EUR 267,973 0.50% 15,571Barry Callebaut AG (138) CHF (118,162) (0.18%) 3,037Bayer AG 4,639 EUR 393,364 0.73% 2,992Berendsen Plc 21,287 GBP 184,772 0.40% 11,940Berkeley Group Holdings Plc (11,904) GBP (253,079) (0.55%) 18,835BillerudKorsnas AB (16,768) SEK (1,008,595) (0.21%) 5,175Bristol-Myers Squibb Co (16,400) USD (685,438) (0.96%) 33,433Brocade Communications Systems Inc 70,800 USD 538,434 0.76% 64,272Bwin.Party Digital Entertainment Plc (409,949) GBP (440,285) (0.96%) 80,833Calbee Inc (6,100) JPY (58,438,005) (0.84%) 14,994carsales.com Ltd 21,442 AUD 238,971 0.30% 26,970Celgene Corp 4,200 USD 598,815 0.84% 18,922CF Industries Holdings Inc 1,700 USD 321,750 0.45% 7,174Chemring Group Plc (21,978) GBP (67,868) (0.15%) 1,541CLP Holdings Ltd (12,500) HKD (774,691) (0.14%) 2,003CME Group Inc (3,200) USD (225,520) (0.32%) 13,375Computer Sciences Corp 3,200 USD 161,137 0.23% 8,865Dai Nippon Printing Co Ltd 60,000 JPY 57,269,999 0.82% 89Darden Restaurants Inc (10,400) USD (483,965) (0.68%) 23,632DENTSPLY International Inc (3,600) USD (151,362) (0.21%) 125Distribuidora Internacional de Alimentacion SA 15,064 EUR 90,889 0.17% 5,596Duerr AG 2,834 EUR 143,400 0.27% 2,239Duke Energy Corp (2,400) USD (157,573) (0.22%) 9,063Echo Entertainment Group Ltd (28,686) AUD (77,452) (0.10%) 1,375Elekta AB (10,025) SEK (1,061,146) (0.23%) 6,272Encana Corp 48,900 CAD 879,712 1.18% 6,650Enerplus Corp 14,000 CAD 244,650 0.33% 6,679EnQuest Plc 123,519 GBP 154,461 0.34% 1,465Equinix Inc (4,000) USD (703,520) (0.99%) 4,619

148 Invesco Funds


11. Equity Swaps (continued)


shares of the sub-fund sub-fund Base CcyInvesco Global Absolute Return Fund (continued) EUREuropean Aeronautic Defence and Space Co NV 8,624 EUR 377,623 0.70% 18,348Fastenal Co (21,800) USD (969,119) (1.36%) 41,317Flextronics International Ltd 13,600 USD 122,876 0.17% 13Flight Centre Ltd 11,086 AUD 520,765 0.66% 19,297Gamesa Corp Tecnologica SA 132,646 EUR 706,340 1.32% 91,924Genel Energy Plc (27,304) GBP (253,859) (0.55%) 4,115GN Store Nord A/S 37,871 DKK 4,379,783 1.09% 25,155Grifols SA (25,361) EUR (777,188) (1.45%) 2,409Husky Energy Inc 30,500 CAD 910,577 1.22% 10,183Hutchison Port Holdings Trust (296,000) USD (218,300) (0.31%) 5,967Iberiabank Corp (3,300) USD (176,170) (0.25%) 8,069Jardine Cycle & Carriage Ltd (3,000) SGD (99,931) (0.11%) 12,120Jos A Bank Clothiers Inc (8,100) USD (327,605) (0.46%) 7,615Kakaku.com Inc (35,600) JPY (64,222,384) (0.92%) 9,736Kansai Paint Co Ltd (35,000) JPY (40,022,440) (0.57%) 51,919Keikyu Corp (55,000) JPY (46,282,447) (0.66%) 24,594Keyence Corp (3,100) JPY (100,827,533) (1.45%) 40,710Kinder Morgan Inc (15,800) USD (597,952) (0.84%) 20,644Kinder Morgan Management LLC (4,570) USD (366,331) (0.52%) 9,521Konica Minolta Inc 10,500 JPY 8,489,270 0.12% 4,080Lear Corp 7,200 USD 496,764 0.70% 23,797Loews Corp (11,100) USD (495,005) (0.70%) 11,488Marathon Petroleum Corp 13,900 USD 1,023,666 1.44% 40,783Mazda Motor Corp (230,000) JPY (90,734,937) (1.30%) 95,599MGM China Holdings Ltd 97,200 HKD 2,257,466 0.41% 12,541MGM Resorts International 8,800 USD 156,508 0.22% 3,116Micro Focus International Plc 23,001 GBP 181,536 0.40% 6,236Minerals Technologies Inc 13,200 USD 595,254 0.84% 1,171Mitsubishi Motors Corp (8,500) JPY (8,788,975) (0.13%) 12,240Mondi Plc 66,242 GBP 658,114 1.44% 56,135National Instruments Corp (31,600) USD (891,120) (1.25%) 41,166Next Plc 11,334 GBP 559,219 1.22% 18,283Nintendo Co Ltd (8,200) JPY (91,142,952) (1.31%) 154,290Nippon Electric Glass Co Ltd 81,000 JPY 41,188,496 0.59% 7,179Northeast Utilities (3,700) USD (151,607) (0.21%) 8,204Northrop Grumman Corp 7,300 USD 679,484 0.96% 30,349NVIDIA Corp 10,000 USD 147,750 0.21% 1,227Ophir Energy Plc (81,498) GBP (264,380) (0.58%) 67,994Pepco Holdings Inc (15,700) USD (297,436) (0.42%) 16,828Perrigo Co (1,337) USD (161,797) (0.23%) 6,802QBE Insurance Group Ltd (7,891) AUD (119,905) (0.15%) 6,978Rakuten Inc (56,800) JPY (68,642,812) (0.98%) 18,675Reed Elsevier Plc 60,796 GBP 489,256 1.07% 1,511ResMed Inc 196,506 AUD 1,066,046 1.34% 63,241Safeway Inc 6,100 USD 158,813 0.22% 6,432Shangri-La Asia Ltd (212,000) HKD (2,524,920) (0.46%) 10,528Shin-Etsu Chemical Co Ltd (2,300) JPY (13,639,002) (0.20%) 18,425Softbank Corp (15,200) JPY (94,012,063) (1.35%) 4,149Svenska Handelsbanken AB 3,057 SEK 870,637 0.19% 2,653Symantec Corp 22,100 USD 575,815 0.81% 30,628Texas Capital Bancshares Inc (18,800) USD (851,734) (1.20%) 33,233Thomson Reuters Corp (6,200) CAD (217,341) (0.29%) 3,471Toray Industries Inc (79,000) JPY (47,755,490) (0.68%) 46,816Trelleborg AB 7,008 SEK 784,547 0.17% 798Trimble Navigation Ltd (39,400) USD (1,012,383) (1.43%) 43,234Tsuruha Holdings Inc (5,000) JPY (44,399,959) (0.64%) 37,683Turquoise Hill Resources Ltd (63,800) CAD (344,839) (0.46%) 28,491UIL Holdings Corp (11,400) USD (431,092) (0.61%) 24,038Unicharm Corp (14,700) JPY (75,043,505) (1.08%) 43,200United Therapeutics Corp 7,200 USD 526,429 0.74% 26,541Verbund AG (9,184) EUR (134,523) (0.25%) 1,125ViaSat Inc (13,500) USD (885,532) (1.25%) 24,345Voestalpine AG 3,349 EUR 108,516 0.20% 14,510Washington Post Co 900 USD 512,154 0.72% 36,053Western Refining Inc 19,800 USD 592,317 0.83% 26,303Westlake Chemical Corp 1,700 USD 173,553 0.24% 1,905WH Smith Plc 60,351 GBP 509,966 1.11% 63,326

149 Invesco Funds




shares of the sub-fund sub-fund Base CcyInvesco Global Absolute Return Fund (continued) EURWilliam Demant Holding A/S (3,390) DKK (1,646,181) (0.41%) 1,042Yamada Denki Co Ltd (11,880) JPY (36,887,430) (0.53%) 122,467YIT OYJ (26,498) EUR (277,832) (0.52%) 16,599

Total unrealised gain on equity swaps 2,365,616

Abercrombie & Fitch Co 3,300 USD 118,618 0.17% (34,383)Actavis Inc (6,300) USD (852,799) (1.20%) (63,500)Advisory Board Co (2,000) USD (113,871) (0.16%) (1,183)AECOM Technology Corp 26,900 USD 807,673 1.14% (61,979)Air Methods Corp (3,800) USD (157,643) (0.22%) (21,933)Algeta ASA (4,689) NOK (1,223,363) (0.28%) (7,230)Amcor Ltd 29,869 AUD 311,235 0.39% (8,715)AMP Ltd (111,666) AUD (528,739) (0.67%) (21,397)AOL Inc 28,500 USD 967,433 1.36% (76,182)Aoyama Trading Co Ltd 7,100 JPY 17,245,869 0.25% (9,229)Asahi Glass Co Ltd 38,000 JPY 21,925,954 0.31% (25,933)Asics Corp (19,600) JPY (33,849,159) (0.49%) (6,163)Astellas Pharma Inc 3,100 JPY 15,608,476 0.22% (17,165)ASX Ltd (3,722) AUD (131,758) (0.17%) (1,620)Athabasca Oil Corp (131,700) CAD (1,011,456) (1.35%) (84,012)Autobacs Seven Co Ltd 26,200 JPY 36,745,444 0.53% (24,717)Balfour Beatty Plc (276,680) GBP (688,380) (1.50%) (64,129)Bezeq The Israeli Telecommunication Corp Ltd 64,102 ILs 378,938 0.15% (583)Bombardier Inc 22,600 CAD 107,011 0.14% (2,566)Brother Industries Ltd 80,000 JPY 80,199,999 1.15% (120,791)Cabot Corp (11,500) USD (462,530) (0.65%) (8,864)Canon Inc 3,300 JPY 9,733,340 0.14% (11,672)Carillion Plc (27,356) GBP (78,854) (0.17%) (2,925)CBOE Holdings Inc 2,500 USD 117,950 0.17% (2,658)Cepheid Inc (2,800) USD (102,942) (0.14%) (6,006)Cirrus Logic Inc (14,200) USD (332,919) (0.47%) (44,693)Cisco Systems Inc 39,100 USD 917,090 1.29% (66,251)Citigroup Inc 2,600 USD 126,009 0.18% (6,440)Clean Harbors Inc (16,100) USD (915,366) (1.29%) (35,135)Coloplast A/S 10,135 DKK 3,086,108 0.77% (40,628)ComfortDelGro Corp Ltd 531,000 SGD 977,040 1.08% (24,282)Concho Resources Inc (7,200) USD (694,116) (0.98%) (55,152)ConocoPhillips 5,300 USD 350,621 0.49% (2,474)CoreLogic Inc 12,200 USD 317,261 0.45% (6,400)Daihatsu Motor Co Ltd 49,000 JPY 90,404,936 1.30% (87,059)Daiichi Sankyo Co Ltd 15,500 JPY 26,210,506 0.38% (2,733)Denki Kagaku Kogyo KK 128,000 JPY 46,143,972 0.66% (11,801)Dentsu Inc (19,600) JPY (64,385,955) (0.92%) (2,929)Diamond Offshore Drilling Inc 8,500 USD 545,402 0.77% (44,094)Dillard's I’c 1,500 USD 114,158 0.16% (6,816)DR Horton Inc (15,400) USD (283,130) (0.40%) (672)Edwards Lifesciences Corp (8,700) USD (614,786) (0.87%) (27,747)Endo Health Solutions Inc (2,800) USD (115,794) (0.16%) (6,221)Entergy Corp 2,000 USD 126,030 0.18% (11,476)EOG Resources Inc 700 USD 109,960 0.15% (185)F5 Networks Inc (1,600) USD (134,576) (0.19%) (3,938)Family Dollar Stores Inc (12,200) USD (872,361) (1.23%) (27,285)Firstgroup Plc (68,613) GBP (78,150) (0.17%) (16,716)FLSmidth & Co A/S (9,792) DKK (3,043,352) (0.76%) (48,435)Foot Locker Inc 11,400 USD 370,899 0.52% (31,544)Fugro NV (1,883) EUR (87,244) (0.16%) (6,642)Fujitsu Ltd 35,000 JPY 12,722,462 0.18% (11,770)G4S Plc (87,208) GBP (225,650) (0.49%) (45,225)Galp Energia SGPS SA (33,264) EUR (430,020) (0.80%) (43,825)Gap Inc 24,000 USD 977,160 1.38% (71,680)General Motors Co 5,500 USD 189,502 0.27% (7,809)Haseko Corp 81,000 JPY 9,355,490 0.13% (8,462)Hess Corp (1,400) USD (106,142) (0.15%) (4,804)Hino Motors Ltd 21,000 JPY 27,016,525 0.39% (42,201)HMS Holdings Corp (18,400) USD (470,948) (0.66%) (1,374)Hokuriku Electric Power Co 12,900 JPY 16,802,227 0.24% (30,542)

150 Invesco Funds




shares of the sub-fund sub-fund Base CcyInvesco Global Absolute Return Fund (continued) EURIbiden Co Ltd 15,700 JPY 22,278,319 0.32% (16,046)Intrum Justitia AB 4,045 SEK 662,369 0.14% (2,630)IPSOS (9,970) EUR (290,501) (0.54%) (16,967)Kao Corp 17,800 JPY 51,112,711 0.73% (79,530)KLA-Tencor Corp 2,900 USD 160,428 0.23% (10,504)Kroger Co 2,700 USD 99,293 0.14% (3,346)M3 Inc (355) JPY (91,323,685) (1.31%) (62,161)Marathon Oil Corp 16,900 USD 583,979 0.82% (24,988)Marine Harvest ASA 476,427 NOK 2,735,885 0.63% (21,612)Marvell Technology Group Ltd 39,300 USD 472,189 0.66% (4,760)Medipal Holdings Corp 24,600 JPY 26,998,452 0.39% (22,540)MEG Energy Corp (3,900) CAD (134,004) (0.18%) (10,297)Melrose Industries Plc (243,834) GBP (731,136) (1.60%) (79,784)Merck KGaA 657 EUR 75,703 0.14% (2,152)Methanex Corp 2,800 CAD 138,992 0.19% (2,084)Microsoft Corp 11,300 USD 379,285 0.53% (18,916)Mitsui Engineering & Shipbuilding Co Ltd 135,000 JPY 24,097,486 0.35% (6,756)MS&AD Insurance Group Holdings 9,500 JPY 23,617,047 0.34% (27,380)Myriad Genetics Inc 10,200 USD 270,045 0.38% (34,335)Namco Bandai Holdings Inc 63,000 JPY 98,752,479 1.42% (58,696)NCC AB (6,781) SEK (1,178,535) (0.25%) (4,181)NCR Corp (2,900) USD (104,705) (0.15%) (1,538)Nippon Express Co Ltd 68,000 JPY 31,313,950 0.45% (18,573)Noble Energy Inc 1,800 USD 110,420 0.16% (3,350)Obrascon Huarte Lain SA 9,599 EUR 252,166 0.47% (10,847)Oesterreichische Post AG 5,487 EUR 171,524 0.32% (1,866)Panalpina Welttransport Holding AG (1,780) CHF (244,127) (0.37%) (27,073)Pentair Ltd (16,700) USD (1,018,449) (1.43%) (9,846)Pfizer Inc 35,200 USD 989,296 1.39% (15,033)Pharmacyclics Inc (1,800) USD (206,560) (0.29%) (13,155)Plastic Omnium SA 2,293 EUR 116,324 0.22% (5,401)PostNL NV (40,742) EUR (109,127) (0.20%) (9,391)ProSiebenSat.1 Media AG 20,123 EUR 640,716 1.19% (48,597)QinetiQ Group Plc 204,584 GBP 383,800 0.84% (3,550)Rackspace Hosting Inc (11,000) USD (493,515) (0.69%) (6,935)Regions Financial Corp 51,800 USD 491,323 0.69% (19,013)Rosetta Resources Inc (6,800) USD (317,866) (0.45%) (8,309)Saipem SpA (23,603) EUR (392,990) (0.73%) (28,516)Sawai Pharmaceutical Co Ltd (5,400) JPY (69,335,970) (0.99%) (21,985)SEACOR Holdings Inc 6,100 USD 517,921 0.73% (11,405)Seagate Technology Plc 3,600 USD 137,142 0.19% (23,302)Sega Sammy Holdings Inc 4,500 JPY 10,552,491 0.15% (9,603)ShawCor Ltd 7,900 CAD 328,877 0.44% (9,873)Shikoku Electric Power Co Inc 19,200 JPY 29,395,185 0.42% (60,832)Skandinaviska Enskilda Banken AB 28,508 SEK 1,950,662 0.42% (14,626)Skanska AB (25,640) SEK (3,042,188) (0.65%) (3,083)Starz (39,800) USD (987,239) (1.39%) (38,678)Subsea 7 SA (39,088) NOK (4,903,593) (1.13%) (64,034)Sumitomo Forestry Co Ltd 31,300 JPY 29,312,490 0.42% (61,188)Superior Plus Corp 24,200 CAD 264,385 0.35% (35,411)Suzuken Co Ltd 20,600 JPY 62,469,530 0.90% (33,850)Taiheiyo Cement Corp (179,000) JPY (66,140,499) (0.95%) (844)Taisei Corp 110,000 JPY 44,440,007 0.64% (3,717)Telecom Corp of New Zealand Ltd 168,752 NZD 383,489 0.42% (2,811)Teleperformance 4,458 EUR 154,336 0.29% (20,418)TGS Nopec Geophysical Co ASA 20,524 NOK 3,721,004 0.86% (17,826)Tokio Marine Holdings Inc 17,800 JPY 54,023,039 0.77% (72,143)Tokyo Gas Co Ltd 192,000 JPY 97,728,020 1.40% (59,686)Toromont Industries Ltd 8,300 CAD 187,331 0.25% (10,980)Trican Well Service Ltd (43,000) CAD (636,185) (0.85%) (25,787)UCB SA (1,705) EUR (74,948) (0.14%) (2,656)Vishay Intertechnology Inc 44,100 USD 554,557 0.78% (62,437)Volkswagen AG (3,119) EUR (528,904) (0.99%) (19,728)Volkswagen AG PRF (1,294) EUR (224,088) (0.42%) (4,561)William Hill Plc 102,089 GBP 426,273 0.93% (55,755)

151 Invesco Funds




shares of the sub-fund sub-fund Base CcyInvesco Global Absolute Return Fund (continued) EURWilliams Cos Inc (7,700) USD (278,933) (0.39%) (15,899)Wirecard AG (26,473) EUR (626,417) (1.17%) (47,982)Yahoo! Inc 3,700 USD 101,028 0.14% (3,074)

Total unrealised loss on equity swaps (3,125,807)

Total net unrealised loss on equity swaps (760,191)

12. Swing Pricing Policy

Securities are valued as outlined in note 2(b). However, in order to mitigate the effects of dilution, the Fund has implemented a policy of “SwingPricing” since December 18, 2007.

In the best interest of Shareholders, the Directors may allow for the net asset value to be adjusted, using bid or ask market quotation rather than mid,depending on the net share activity arising from subscriptions, redemptions or switching in a sub-fund for a given business day.

The sub-funds operate partial swing only. That is the sub-funds will not swing to either a bid or ask price basis daily, but only when a pre determinedlevel of shareholder activity is exceeded. High redemption level triggers a swing to a bid price basis, whereas high subscription level triggers a swingto ask price basis. The Directors have the ability to place a sub-fund on constant swing depending on the recent trends in a sub-fund.

The reconciliation on 30 August 2013 of MID to BID/ASK pricing is as follows:

Ccy Mid Bid Ask

Invesco Global Equity Income Fund (USD)Distribution A SD USD 13.50 - 13.52Accumulation A USD 53.12 - 53.24Accumulation A Hedg (EUR) EUR 12.80 - 12.83Accumulation C USD 59.29 - 59.42Accumulation E EUR 13.21 - 13.24Accumulation R USD 45.38 - 45.48Distribution Z SD USD 9.84 - 9.86Distribution Z AD EUR 9.95 - 9.97Accumulation Z USD 9.84 - 9.86

Invesco Pan European Equity Income Fund (EUR)Distribution A SD EUR 10.00 - 10.03Accumulation A EUR 10.84 - 10.88Accumulation C EUR 11.20 - 11.24Accumulation E EUR 10.42 - 10.46Distribution Z SD EUR 9.93 - 9.97

Invesco Japanese Equity Advantage Fund (JPY)Distribution A AD EUR 12.72 - 12.75Accumulation A JPY 2,688.93 - 2,695.14Accumulation C JPY 2,832.22 - 2,838.75Accumulation C (GBP) GBP 12.77 - 12.79Accumulation E EUR 12.43 - 12.46Accumulation R JPY 2,512.76 - 2,518.57Accumulation Z (EUR) EUR 9.91 - 9.94Accumulation Z (GBP) GBP 9.91 - 9.93

Invesco Asia Infrastructure Fund (USD)Distribution A SD USD 12.51 12.44 -Accumulation A USD 13.07 12.99 -Accumulation A Hedg (EUR) EUR 9.22 9.17 -Accumulation A (HKD) HKD 80.95 80.48 -Accumulation C USD 13.66 13.58 -Accumulation C Hedg (EUR) EUR 9.83 9.78 -Accumulation E EUR 9.36 9.31 -Accumulation R USD 7.90 7.86 -Accumulation Z USD 9.96 9.90 -Accumulation Z (EUR) EUR 10.07 10.01 -

152 Invesco Funds


153 Invesco Funds

12. Swing Pricing Policy (continued)Ccy Mid Bid Ask

Invesco Global Leisure Fund (USD)Accumulation A USD 28.61 - 28.64Accumulation B USD 24.41 - 24.43Accumulation C USD 30.62 - 30.66Accumulation E EUR 19.59 - 19.61

Invesco Emerging Local Currencies Debt Fund (USD)Distribution A AD EUR 8.92 8.90 -Distribution A MD Hedg (EUR) EUR 7.30 7.29 -Distribution A MD USD 9.45 9.43 -Distribution A MD (HKD) HKD 84.37 84.16 -Accumulation A USD 14.25 14.21 -Accumulation A Hedg (EUR) EUR 7.76 7.74 -Accumulation C USD 14.72 14.68 -Accumulation C Hedg (EUR) EUR 8.80 8.78 -Accumulation E EUR 10.48 10.45 -Distribution R MD Fixed USD 8.40 8.38 -Distribution Z AD Hedg (EUR) EUR 9.83 9.81 -

Invesco Global Total Return (EUR) FundDistribution A AD EUR 10.41 - 10.44Accumulation A EUR 11.95 - 11.98Accumulation C EUR 12.11 - 12.15Distribution E QD EUR 11.12 - 11.15Accumulation E EUR 11.86 - 11.89Distribution R MD EUR 10.67 - 10.70Distribution Z AD EUR 10.03 - 10.05

Invesco US High Yield Bond Fund (USD)Distribution A AD USD 10.65 - 10.69Distribution A AD Hedg (EUR) EUR 10.58 - 10.62Distribution A MD Fixed USD 10.25 - 10.30Distribution A MD (HKD) HKD 104.22 - 104.69Accumulation A USD 10.88 - 10.93Accumulation A Hedg (EUR) EUR 10.83 - 10.88Accumulation E EUR 10.21 - 10.25Accumulation R USD 10.79 - 10.84

Invesco Pan European High Income Fund (EUR)Distribution A AD EUR 11.91 - 11.97Distribution A QD EUR 12.40 - 12.45Accumulation A EUR 16.69 - 16.77Accumulation C EUR 17.11 - 17.19Accumulation E EUR 16.06 - 16.13Accumulation R EUR 12.04 - 12.09Distribution Z AD EUR 9.97 - 10.02

Invesco Balanced-Risk Allocation Fund (EUR)Distribution A AD EUR 14.19 - 14.20Accumulation A EUR 14.18 - 14.19Accumulation A Hedg (USD) USD 18.85 - 18.86Accumulation C EUR 14.53 - 14.53Accumulation C Hedg (GBP) GBP 12.85 - 12.85Accumulation C Hedg (USD) USD 19.30 - 19.32Accumulation E EUR 13.90 - 13.91Accumulation R EUR 11.58 - 11.58Accumulation Z EUR 10.08 - 10.08Accumulation Z Hedg (GBP) GBP 10.08 - 10.09Accumulation Z Hedg (USD) USD 10.08 - 10.08

13. Changes in InvestmentsA list, specifying for each investment the total purchases and sales which occurred during the period under review, may be obtained, upon requestand free of charge, at the Registered Office and the Hong Kong Representative Office of the Fund.


154 Invesco Funds

14. Stock Lending Below are the Funds which had securities on loan with State Street Bank at 31 August 2013.

15. Soft Commissions & Related Party TransactionsCertain subsidiaries of Invesco Ltd. (“the Group”) consistent with obtaining the best net result, including best execution, may enter into agreementswith counterparties whereby those counterparties may make payments for investment services provided to the Group.

Investment services are used by the Group to improve or add to the services provided to its clients. Although each and every service may not be usedto service each and every account managed by the Group, the Group considers that those investment services received are, in the aggregate, ofsignificant assistance in fulfilling its investment responsibilities and are of demonstrable benefit to all clients. Only services that assist in the provisionof investment services to the Group’s clients will be paid for by counterparties.

Allowable investment services include services that provide assistance to the Group in its investment performance. Those services include, but arenot necessarily limited to, furnishing analysis, research and advisory services including economic factors and trends, portfolio valuation and analysis,performance measurement, market prices services and the use of specialised computer software and hardware or other information facilities.

The Group will ensure adherence to its investment decision making responsibilities to its clients in accordance with the laws of the countries that havejurisdiction over its clients or business. This may vary in application with respect to the appropriateness of those investment services provided.

The Group selects counterparties to execute transactions on the basis that transactions will only be executed provided the placing of orders will notoperate against the best interest of the Group’s clients and that the multiple is at a level which is generally accepted market practice. The Group willendeavour to obtain best execution on all transactions for all clients.

The Group will endeavour to maintain the highest possible regulatory standards worldwide.

16. Transaction CostsTransaction fees incurred by the Fund relating to purchase or sale of transferable securities money market instruments, derivatives or other eligibleassets are mainly composed of custodian fees, commission/broker fees. Transaction fees are included in the transaction price used to calculate therealised and unrealised gain/(loss) on securities.

For the period from 1 March 2013 until 31 August 2013, these transactions costs amount to:

Sub-Fund Ccy Transaction Fees

Invesco Global Structured Equity Fund USD 28,260Invesco Emerging Market Quantitative Equity Fund USD 16,879Invesco Global Smaller Companies Equity Fund USD 208,095Invesco Global Equity Income Fund USD 203,645Invesco Latin American Equity Fund USD 20,231Invesco US Structured Equity Fund USD 206,330Invesco US Value Equity Fund USD 68,164Invesco US Equity Fund USD 5,652Invesco Pan European Structured Equity Fund EUR 339,868Invesco Pan European Small Cap Equity Fund EUR 344,634Invesco European Growth Equity Fund EUR 47,903Invesco Pan European Equity Income Fund EUR 13,173Invesco Emerging Europe Equity Fund USD 46,397Invesco Pan European Focus Equity Fund EUR 4,949Invesco Nippon Small/Mid Cap Equity Fund JPY 29,408,206Invesco Japanese Equity Advantage Fund JPY 11,276,302Invesco Japanese Value Equity Fund JPY 6,398,597Invesco Asia Opportunities Equity Fund USD 288,294Invesco Greater China Equity Fund USD 2,318,898Invesco Asia Infrastructure Fund USD 1,437,295Invesco India Equity Fund USD 168,854Invesco Asia Consumer Demand Fund USD 524,769Invesco China Focus Equity Fund USD 53,845Invesco Asian Focus Equity Fund USD 8,606Invesco Global Leisure Fund USD 58,984Invesco Energy Fund USD 137,546Invesco Global Income Real Estate Securities Fund USD 12,483Invesco Gold & Precious Metals Fund USD 13,675

Sub-fund Stock Lending Total Market Value Cash and securities held Income for the period of Securities on loan as collateral in respect ended 31/08/2013 at 31/08/2013 of securities on loan

USD USD USD

Invesco Global Structured Equity Fund 255 1,068,308 1,128,600 Invesco Pan European Structured Equity Fund 468,094 18,161,614 19,203,171 Invesco European Growth Equity Fund 2,760 - - Invesco Nippon Small/Mid Cap Equity Fund 62,780 11,083,769 12,263,549


155 Invesco Funds

16. Transaction Costs (continued)

Sub-fund Ccy Transaction Fees

Invesco USD Reserve Fund USD 590Invesco Euro Reserve Fund EUR 1,248Invesco Global Bond Fund USD 2,344Invesco European Bond Fund EUR 14,606Invesco Absolute Return Bond Fund EUR 1,912Invesco Euro Inflation-Linked Bond Fund EUR 1,362Invesco Euro Corporate Bond Fund EUR 26,649Invesco UK Investment Grade Bond Fund GBP 1,438Invesco Emerging Local Currencies Debt Fund USD 3,939Invesco Global Investment Grade Corporate Bond Fund USD *(2,211)Invesco Global Unconstrained Bond Fund GBP 259Invesco Global Total Return (EUR) Bond Fund EUR 1,253Invesco Emerging Market Corporate Bond Fund USD 4,885Invesco Euro Short Term Bond Fund EUR 1,730Invesco Asian Bond Fund USD 267Invesco US High Yield Bond Fund USD 1,655Invesco Renminbi Fixed Income Fund USD 857Invesco Capital Shield 90 (EUR) Fund EUR 40,682Invesco Asia Balanced Fund USD 845,007Invesco Pan European High Income Fund EUR 74,412Invesco Global Absolute Return Fund EUR 8,440Invesco Balanced-Risk Allocation Fund EUR 1,047,582

For the period ended 31 August 2013, the Fund did not pay broker fees/commissions on bond transactions. In accordance with bonds marketpractice, a “bid-offer” spread is applied on the transaction prices. According to this principle, the sale price applied by the broker is not the same asthe purchase price, the difference corresponding to the remuneration of the broker.

*The transaction fee figure of (2,211) contains a positive futures commission expense of 3,512 which was a positive adjustment to the fee by thebroker.

156 Invesco Funds

UK Reporting RegimeThe following sub-funds have applied and received initial approval from HM Revenue & Customs for the purposes of UK taxation.

The Statement of Reportable Income for financial year ended 28 February 2013 is available through the following website.http://investor.invescointernational.co.uk/portal/site/iiprivate/reportableincome

Sub-fund ClassesInvesco Global Structured Equity Fund A-Dist-ADInvesco Global Structured Equity Fund C-Dist-ADInvesco Emerging Markets Quantitative Equity A-AccInvesco Emerging Markets Quantitative Equity C-AccInvesco Emerging Markets Quantitative Equity Z-AccInvesco Global Smaller Companies Equity Fund A-Dist-SDInvesco Global Smaller Companies Equity Fund C-AccInvesco Global Smaller Companies Equity Fund Z-AccInvesco Global Equity Income Fund A-AccInvesco Global Equity Income Fund A-DistInvesco Global Equity Income Fund C-AccInvesco Global Equity Income Fund Z-AccInvesco Global Equity Income Fund Z-Dist-ADInvesco Global Equity Income Fund Z-Dist-SDInvesco US Structured Equity Fund A-AccInvesco US Structured Equity Fund C-AccInvesco US Structured Equity Fund Z-AccInvesco US Value Equity Fund A-Dist-SDInvesco US Value Equity Fund C-Dist-SDInvesco Pan European Structured Equity Fund A-Dist-ADInvesco Pan European Structured Equity Fund C-AccInvesco Pan European Structured Equity Fund Z-Dist-ADInvesco Pan European Equity Fund A-Dist-AD (USD)Invesco Pan European Equity Fund A-Dist-ADlnvesco Pan European Equity Fund C-Dist-ADlnvesco Pan European Equity Fund Z-Dist-ADInvesco Pan European Small Cap Equity Fund A-Dist-ADInvesco Pan European Small Cap Equity Fund C-AccInvesco European Growth Equity Fund A-AccInvesco European Growth Equity Fund C-AccInvesco European Growth Equity Fund Z-Dist-ADInvesco Pan European Equity Income Fund A-Dist-SDInvesco Pan European Equity Income Fund Z-Dist-SDInvesco Emerging Europe Equity Fund A-AccInvesco Emerging Europe Equity Fund C-AccInvesco Nippon Small/Mid Cap Equity A-AccInvesco Nippon Small/Mid Cap Equity C-AccInvesco Nippon Small/Mid Cap Equity Z-AccInvesco Japanese Equity Advantage Fund A-AccInvesco Japanese Equity Advantage Fund C-AccInvesco Japanese Equity Advantage Fund Z-AccInvesco Japanese Value Equity Fund A-Dist-SDInvesco Japanese Value Equity Fund C-Dist-ADInvesco Asia Opportunities Equity Fund A-AccInvesco Asia Opportunities Equity Fund C-AccInvesco Greater China Equity A-AccInvesco Greater China Equity C-AccInvesco Greater China Equity Z-AccInvesco Asia Infrastructure Fund A-Dist-SDInvesco Asia Infrastructure Fund C-AccInvesco Asia Infrastructure Fund Z-AccInvesco India Equity Fund A-Dist-ADInvesco India Equity Fund C-Dist-ADInvesco Asia Consumer Demand Fund A-Dist-SDInvesco Asia Consumer Demand Fund C-AccInvesco Asia Consumer Demand Fund Z -AccInvesco Energy Fund A-Dist-ADInvesco Energy Fund C-AccInvesco Gold and Precious Metals A-AccInvesco Gold and Precious Metals C-Acclnvesco USD Reserve A-Acclnvesco USD Reserve C-AccInvesco Euro Reserve Fund A-Dist-ADInvesco Euro Reserve Fund C-Acc

Other Information

UK Reporting Regime (continued)Sub-fund ClassesInvesco Global Bond Fund A-Dist-SDInvesco Global Bond Fund C-AccInvesco Global Bond Fund Z-Dist-SDInvesco Absolute Return Bond Fund A-AccInvesco Absolute Return Bond Fund C (GBP Hdg)-AccInvesco Euro Inflation-Linked Bond Fund A-AccInvesco Euro Inflation-Linked Bond Fund C-AccInvesco Euro Corporate Bond Fund A-Dist-MDInvesco Euro Corporate Bond Fund A-AccInvesco Euro Corporate Bond Fund C-AccInvesco Euro Corporate Bond Fund Z-AccInvesco Euro Corporate Bond Fund Z-Dist-ADInvesco UK Investment Grade Bond Fund A-Dist-QDInvesco UK Investment Grade Bond Fund C-Dist-QDInvesco UK Investment Grade Bond Fund Z-Dist-QDInvesco Emerging Local Currencies Debt Fund A-Dist-MDInvesco Emerging Local Currencies Debt Fund C-AccInvesco Emerging Local Currencies Debt Fund Z-AccInvesco Global Investment Grade Corporate Bond Fund A-DistInvesco Global Investment Grade Corporate Bond Fund C-DistInvesco Global Unconstrained Bond Fund C-AccInvesco Global Total Return (EUR) Bond Fund A-AccInvesco Global Total Return (EUR) Bond Fund C-AccInvesco Capital Shield 90 (EUR) Fund A-AccInvesco Capital Shield 90 (EUR) Fund C-Acclnvesco Asia Balanced Fund A-Dist-MDlnvesco Asia Balanced Fund A-Dist-QDlnvesco Asia Balanced Fund C-Acclnvesco Asia Balanced Fund Z-AccInvesco Balanced-Risk Allocation Fund C (GBP Hdg)-AccInvesco Balanced-Risk Allocation Fund A-Dist-AD

Other Information (continued)

157 Invesco Funds

ORGANISATION

Leslie Schmldt(Chairperson)11 GreenwayPlazaSuite 2500Houston, United States ofAmericaPresident andmember of theBoard ofInvesco NationalTrust Company

Oliver CarrollGeorge’s QuayHouse43 TownsendStreetDublin 2, IrelandGlobal Head ofFinanceOperations(Resigned 7 June2013)

Carsten MajerAn der Welle 5D-60322 Frankfurtam MainGermanyChief MarketingOfficerCE InvescoGermany(Resigned 7 June2013)

John RowlandPerpetual ParkPerpetual ParkDriveHenley-on-ThamesOxfordshireRG9 1HHUnited KingdomGlobal Head ofInvestmentOperations

CormacO’SullivanGeorge’s QuayHouse43 TownsendStreetDublin 2, IrelandHead of DublinOffice, InvescoIreland

Karen DunnKelley1555 PeachtreeStreetN.E. Suite 1800Atlanta, Georgia30309, USAChief ExecutiveOfficerof Invesco FixedIncome,Invesco, US

Benjamin T.Fulton301 W. RooseveltWheaton,Illinois 60187,USAManaging Directorof InvescoPowerSharesCapitalManagement LLC(Appointed18 July2012)(Resigned 30 April2013)

Brian CollinsIndependentDirectorIreland

Douglas J. SharpPerpetual ParkHenley, UKHead of CrossBorder Retail andEMEA State(Appointed17 July 2013)

Invesco Funds(Registered Office)Vertigo Building – Polaris2-4 rue Eugène RuppertL-2453 LuxembourgGrand Duchy of Luxembourg

Management Company*Invesco Management S.A.19, rue de BitbourgL-2173 LuxembourgGrand Duchy of Luxembourg

*Effective 21 May 2013The registered office changed to:37A Avenue J F KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

Investment AdvisersInvesco Advisers Inc.1555 Peachtree Street,AtlantaGeorgiaGA 30309USA

Invesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermany

Invesco Asset Management LimitedRegistered Office30 Finsbury SquareLondon EC2A 1AGUnited Kingdom

Invesco Asset Management(Japan)LimitedRegistered OfficeRoppongi Hills Mori Tower 14FP.O. Box 11510-1, Roppongi 6-chome,Minato-kuTokyo 106-6114Japan

Invesco Hong Kong Limited41/F Citibank Tower3 Garden Road, Central Hong Kong

Custodian & Paying Agent inLuxembourgThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris2-4 rue Eugène Ruppert,L-2453 LuxembourgGrand Duchy of Luxembourg

*Administration Agent, Registrar& Transfer AgentThe Bank of New York Mellon(International) Limited,Luxembourg BranchVertigo Building - Polaris2-4 rue Eugène Ruppert,L-2453 LuxembourgGrand Duchy of Luxembourg

*Effective 21 May 2013The Registrar & Transfer Agent changed to:International Financial dataServices (Luxembourg) Limited47, Avenue J.F. KennedyL-1855 Luxembourg.Grand Duchy of Luxembourg

Domiciliary Corporate Agent The Bank of New York Mellon(International) Limited,Vertigo Building - Polaris2-4 rue Eugène Ruppert,L-2453 LuxembourgGrand Duchy of Luxembourg

Primary Dealing Desk

Hong Kong – Macau

Hong Kong Sub-Distributor &RepresentativeInvesco Asset Management AsiaLimited41/F Citibank Tower3 Garden Road Central Hong KongTel: +852 3128 6000Fax: +852 3128 6001

German Sub-Distributor andInformation AgentInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermanyTel: +49 69 29807 0Fax: +49 69 29807 159

Ireland Global Distributor InvescoGlobal Asset ManagementLimitedGeorge’s Quay House43 Townsend Street,Dublin 2,IrelandTel: +353 1 439 8000Fax: +353 1 439 8400

AuditorPricewaterhouseCoopers, Sociétécoopérative400, route d’EschB.P. 1443, L-1014 LuxembourgGrand Duchy of Luxembourg

Legal Advisers to the SICAVElvinger, Hoss & Prussen2, Place Winston ChurchillB.P. 425L-2014 LuxembourgGrand Duchy of Luxembourg

German Paying AgentBNP Paribas Securities Services S.A.Branch OfficeFrankfurt am MainEuropa Allee 12D-60327 FrankfurtGermany

Austrian DistributorInvesco Asset ManagementÖsterreich GmbHRotenturmstraße 16 -18A-1010 ViennaAustriaTel: +43 1 316 2000Fax: +43 1 316 2020

Austrian Paying AgentErste Bank der oesterreichischenSparkassen AGGraben 211010 ViennaAustria

Invesco Limited RepresentativeOfficesAustriaInvesco Asset ManagementÖsterreich GmbHRotenturmstraße 16 -18A-1010 Vienna, AustriaTel: +43 1 316 2000Fax: +43 1 316 2020

BelgiumInvesco Asset Management S.A.Belgian BranchThe Blue Tower235 Avenue Louise 326, Box 31B-1050 BrusselsBelgiumTel: +32 2641 0170Fax: +32 2641 0175

FranceInvesco Asset Management S.A.16-18, rue de Londres,F-75009 ParisFranceTel: +33 1 56 62 43 02/43 77Fax: +33 1 56 62 43 83/43 20

GermanyInvesco Asset ManagementDeutschland GmbHAn der Welle 5D-60322 Frankfurt am MainGermanyTel: +49 69 29807 0Fax: +49 69 29807 159

Hong KongInvesco Asset Management AsiaLimited41/F Citibank Tower3 Garden Road CentralHong KongTel: +852 3128 6000Fax: +852 3128 6001

IrelandInvesco Global Asset ManagementLimitedGeorges Quay House43 Townsend StreetDublin 2, IrelandTel: +353 1439 8000Fax: +353 1439 8400

ItalyInvesco Asset Management S.A.Piazza del Duomo22 – Galleria Pattari 220122 MilanoItalyTel: +39 02 88 074 1Fax: +39 02 88 074 391

The NetherlandsInvesco Asset Management S.A.Dutch BranchJ.C. Geesinkweg 999NL-1096 AZ AmsterdamThe NetherlandsTel: +31 20 561 6261Fax: +31 20 561 6888

SpainInvesco Asset Management, S.A. Sucursal en España. C/ Recoletos, 15 - 1º 28001 MadridSpain Tel: +00 34 91 781 3020 Fax: +00 34 91 576 0520

SwedenInvesco Asset Management S.A.(France)Swedish Filial Stureplan 4c4th Floor, Stockholm 11435SwedenTel:+46 84 63 11 06Fax: +46 26 41 01 75

SwitzerlandInvesco Asset Management(Switzerland) LimitedStockerstrasse 14CH-8002 ZurichSwitzerlandTel: +41 1 287 9000Fax: +41 1 287 9010

Board of Directors

158 Invesco Funds

Perivan Financial Print 230203

Contact us

Invesco Global Asset Management LimitedGeorge’s Quay House43 Townsend Street, Dublin 2, IrelandTelephone: +353 1 439 8000 Website: www.invesco.com

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