Invesco Emerging Europe Equity Fund A-Acc Shares 31 December 2014 Summary of fund objective Quarterly fund commentary The Fund aims to achieve long-term capital growth from investment of at least 70% of its total assets in equity and equity related securities of companies in emerging European markets. For the full objectives and investment policy please consult the current prospectus. Name changed from Invesco Emerging Markets Select Equity Fund on 31/07/08. It was a challenging quarter for emerging European equity markets as tumbling oil prices and a strengthening US dollar provided headwinds, particularly for Russian stocks. In an attempt to limit the depreciation of the rouble and curb inflation, Russia’s central bank raised interest rates by 650 basis points to 17%. To help keep the banking system stable, the Russian authorities significantly scaled up rescue funds for Trust Bank, bought almost 41 billion roubles worth of state bank Gazprombank’s shares and through the country’s national welfare fund, provided 100 billion roubles to VTB, Russia’s second largest bank. The fund is positioned to benefit from long-term growth opportunities in a region that we believe is deeply discounted by the market due to geopolitical tensions. Although the fund has significant exposure to Russia, we also invest elsewhere in the region in companies that we believe are well-run and can deliver higher return on invested capital and superior future cash flow generation than the market is anticipating. The fund’s diversified approach is reflected in sector positioning, which is spread across a broad variety of industries. Key facts Indexed performance* Fund Nicholas Mason Henley -on- Thames Managed fund since October 2013 Share class launch August 1999 Original fund launch ¹ January 1991 Legal status Luxembourg SICAV with UCITS status Share class base currency USD Fund size USD 16.25 mn Ongoing charges 2.27% (31/08/2013) Reference index MSCI EM Eastern Europe Index-ND Bloomberg code INVPGEI LX ISIN code LU0028120375 Settlement date Trade Date + 3 Days Morningstar RatingTM AAA Index 140 130 120 110 100 90 80 70 60 50 12/09 12/10 12/11 12/12 12/13 12/14 Cumulative performance* in % YTD 1 year 3 years 5 years Fund -34.74 -34.74 -16.08 -24.75 Index -37.59 -37.59 -25.93 -32.69 4 4 3 2 46/55 46/55 29/53 14/48 Quartile ranking Absolute ranking Mstar GIF OS Sector: Emerging Europe Equity Annual performance* in % 2014 2013 2012 2011 2010 Fund -34.74 3.39 24.39 -27.55 23.76 Index -37.59 0.72 17.84 -21.58 15.88 Standardised rolling 12 month performance** in % Fund 31.12.09 31.12.10 31.12.10 31.12.11 31.12.11 31.12.12 31.12.12 31.12.13 31.12.13 31.12.14 23.76 -27.55 24.39 3.39 -34.74 The standardised past performance information is updated on a quarterly basis. Past performance is not a guide to future returns. * (Source: © 2014 Morningstar) Mid to mid, gross income re-invested to 31 December 2014 unless otherwise stated. The figures do not reflect the entry charge payable by individual investors. **Mid to mid, gross income re-invested to 31 December 2014. All performance data on this factsheet is in the currency of the share class. Reference Index Source: Factset. Please refer to Page 3 for Risk Warnings and Important Information. -1- Invesco Emerging Europe Equity Fund A-Acc Shares 31 December 2014 Issuers and active weights* Top 10 issuers (total holdings: 37) % + Top 10 negative - Lukoil OAO 9.2 PhosAgro OAO 3.9 Gazprom OAO 7.5 Powszechny Zaklad Ubezpieczen SA 7.0 Hikma Pharmaceuticals PLC 3.7 5.6 Alrosa AO 3.4 Powszechna Kasa Oszczednosci Bank Polski SA 4.5 NOVATEK OAO Gazprom OAO 5.5 KRUK SA 3.4 MMC Norilsk Nickel OJSC 3.8 Alrosa AO 4.4 Powszechny Zaklad Ubezpieczen SA 3.1 Bank Pekao SA 3.3 Tatneft OAO 4.3 DO & CO AG 3.1 VTB Bank OJSC 2.9 2.8 PGE Polska Grupa Energetyczna SA 2.3 2.2 Polski Koncern Naftowy Orlen SA 2.2 2.2 Magnit PJSC 4.1 Sberbank of Russia 4.0 Top 10 positive KCell JSC Turkiye Sinai Kalkinma Bankasi AS PhosAgro OAO 3.9 Warsaw Stock Exchange 2.2 KGHM Polska Miedz SA Surgutneftegas OAO 3.8 Energa SA 2.2 CEZ AS 2.1 Rosneft OAO 1.9 Geographical weightings of the fund in %* Russia Poland g United Kingdom g Turkey g Austria g Kazakhstan g Turkmenistan g Hungary g Others g Cash g g Sector weightings of the fund in %* Energy Financials g Materials g Consumer Discretionary g Consumer Staples g Industrials g Telecommunication Services g Health Care g Others g Cash g Geographical weightings* in % Sector weightings* Fund Index in % Fund Index Russia 53.1 61.7 Energy 33.2 40.2 Poland 22.0 30.6 Financials 19.1 28.7 United Kingdom 3.7 0.0 Materials 12.8 10.0 Turkey 3.5 0.0 Consumer Discretionary 9.0 2.0 Austria 3.1 0.0 Consumer Staples 5.8 6.4 Kazakhstan 2.8 0.0 Industrials 5.8 0.0 Turkmenistan 2.1 0.0 4.0 4.8 Hungary 2.0 3.6 Telecommunication Services Others 5.2 4.1 Health Care 3.7 1.0 0.0 Others 4.0 6.8 Cash 2.5 0.0 Cash 2.5 g NAV and fees Current NAV USD 7.57 12 month price high USD 11.65 (02.01.14) 12 month price low USD 6.73 (16.12.14) Minimum investment ² USD 1,500 Entry charge Up to 5.00% Annual management fee 1.5% Source: *Invesco **Morningstar Financial characteristics* Average weighted market capitalisation Median market capitalisation USD 12.45 bn USD 2.06 bn 3 year characteristics** Alpha 2.83 Beta 0.89 Correlation 0.97 Information ratio 0.68 Sharpe ratio -0.25 Tracking error in % 6.28 Volatility in % 22.55 Past performance is not a guide to future returns. -2- Invesco Emerging Europe Equity Fund A-Acc Shares 31 December 2014 Risk Warnings The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested. The Fund may invest directly in Russia, which can involve significant risks to capital. As a large portion of the fund is invested in less developed countries, you should be prepared to accept significantly large fluctuations of the value of the fund. Important Information 1 The original fund launch date in this factsheet is identical with the fund launch date on the KIID. The minimum investment amounts are: USD 1,500 / EUR 1,000 / GBP 1,000 / CHF 1,500 / SEK 10,000. Please contact us or refer to the most up to date Prospectus for details of minimum investment amounts in other currencies. 2 Where Invesco has expressed views and opinions, these may change. If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser. The distribution and the offering of the fund or it’s share classes in certain jurisdictions may be restricted by law. Persons into whose possession this document may come are required to inform themselves about and to comply with any relevant restrictions. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Persons interested in acquiring the fund should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences. For the purposes of UK law, the fund is a recognised scheme under section 264 of the Financial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do not apply to offshore investments. Compensation under the UK’s Financial Services Compensation Scheme will not be available and UK cancellation rights do not apply. The fund is available only in jurisdictions where its promotion and sale is permitted. Where securities are mentioned in this document they do not necessarily represent a specific portfolio holding and do not constitute a recommendation to purchase, hold or sell. The ongoing charges figure is based on annualised expenses for the period ending 31/08/2013. This figure may vary from year to year. It excludes portfolio transaction costs except in the case of an entry or exit charge paid by the Fund when buying or selling shares/units in another fund. Please refer to the most up to date relevant fund and share classspecific Key Investor Information Document, the latest Prospectus and Annual or Interim Short Reports for more information on our funds. UK based investors should also refer to the relevant Supplementary Information Document. This information is available using the contact details shown. Issued in Jersey and Guernsey by Invesco International Limited, 2nd Floor, Orviss House, 17a Queen Street, St Helier, Jersey, JE2 4WD. Regulated by the Jersey Financial Services Commission. In Guernsey the fund can only be promoted to Professional Clients. Issued in the UK by Invesco Global Investment Funds Limited, Perpetual Park, Perpetual Park Drive, Henley-on-Thames, Oxfordshire RG9 1HH, UK. Authorised and regulated by the Financial Conduct Authority. Issued in Dubai for Professional Clients only by Invesco Asset Management Limited, PO Box 506599, DIFC Precinct Building No 4, Level 3, Office 305, Dubai, United Arab Emirates. Regulated by the Dubai Financial Services Authority. © 2014 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Page1 Profile = [Page1Profile] Page2 Profile = [Page2Profile] Page3 Profile = [Page3Profile] ISIN = [ISIN] Fund Reg Loc = [Locale] DeskNet Job ID = Not in Data to Tag -3-