GLALX

Global Allocation Fund

Overview

The strategy seeks to achieve attractive total returns without taking undue risk by dynamically allocating across a variety of asset classes with a short-to-medium term horizon.

Inception Date
May 28, 2019
Investment Style
Global Allocation
Fund Index
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
CUSIP
00143W594
NAV
(as of 08/23/2019)
$17.68
Total Assets
(as of 07/31/2019)
$1.38 BN
Gross Expense Ratio
(as of 07/31/2019)
0.95%
Net Expense Ratio
(as of 07/31/2019)
0.90%
Performance
Average Annual Total Returns
Capital Gains Distributions
as of 07/31/2019
  • B
as of 06/30/2019
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr
Global Allocation Fund (NAV)
2.74% 10.63% 1.22% 5.39% 3.51% 7.10%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
3.37% 12.11% 6.76% 8.20% 4.65% 7.93%
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr
Global Allocation Fund (with sales charge)
2.74% 10.63% 1.22% 5.39% 3.51% 7.10%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
3.37% 12.11% 6.76% 8.20% 4.65% 7.93%
Cumulative
Annualized
ytd as of 2019-07-31
1 yr since inception 3 yr 5 yr 10 yr
Global Allocation Fund (NAV)
10.63% 1.22% 4.09% 5.39% 3.51% 7.10%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
12.66% 5.37% - 7.38% 4.99% 7.35%
Cumulative
Annualized
ytd as of 2019-07-31
1 yr since inception 3 yr 5 yr 10 yr
Global Allocation Fund (with sales charge)
10.63% 1.22% 4.09% 5.39% 3.51% 7.10%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
12.66% 5.37% - 7.38% 4.99% 7.35%
Gross Expense Ratio: 0.95% | Net Expense Ratio: 0.90%

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.


Year Global Allocation Fund

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.

$ per share as of 08/24/2019

Date 2014 2015 2016 2017 2018
Short Term 0.0147
Long Term 1.1539
Total Amount of Distribution 1.1686
Record Date 12/19/18
Ex Div Date 12/20/18
Pay Date 12/20/18
Portfolio

Top Holdings

(67.7% of assets as of 07/31/2019)


Portfolio Positioning

(75.6% of assets as of 07/31/2019)


US Equity International Fixed Income International Equity US Fixed Income Alternatives Emerging Equity Other FX Overlays
33.4% 24.5% 11.7% 10.6% 7.0% 5.7% 2.4% -19.7%

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Fixed Income Sector
Country Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
United States 50.2% - -
France 8.1% - -
Germany 5.7% - -
Australia 5.4% - -
Supranational (non-iso) 5.3% - -
Sweden 4.0% - -
Japan 3.8% - -
China 3.0% - -
Spain 1.9% - -
Italy 1.6% - -
Netherlands 1.5% - -
Taiwan 1.5% - -
Brazil 1.4% - -
India 1.3% - -
South Africa 1.1% - -
Switzerland 1.1% - -
Mexico 0.9% - -
Russia 0.8% - -
Indonesia 0.8% - -
Malaysia 0.7% - -
Developed Markets Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Americas 48.8% - -
Asia Pacific 9.8% - -
Europe 5.4% - -
Supranational 5.3% - -
Middle East 0.1% - -
Emerging Markets Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Asia Pacific 7.6% - -
Americas 2.4% - -
Africa 1.1% - -
Europe 0.9% - -
Multi -1.7% - -
Equity Sector Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Information Technology 10.9% - -
Consumer Discretionary 9.5% - -
Industrials 9.0% - -
Financials 8.0% - -
Health Care 6.0% - -
Consumer Staples 4.8% - -
Communication Services 4.8% - -
Materials 2.8% - -
Real Estate 2.1% - -
Utilities 1.5% - -
Energy 1.4% - -
Broad Market -9.9% - -
Fixed Income Sector Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Treasuries 33.1% - -
Catastrophe 5.8% - -
Analytics
(As of 07/31/2019)

Yields
Portfolio Characteristics
Fund
Fund Index
Current Duration
3.44 yrs
2.48 yrs
Turnover Ratio
151%
-
Team
Documents
  1. 1. Because of changes to certain non-fundamental investment policies in connection with a change from a balanced strategy to a global allocation strategy, performance prior to 8/16/10 is not indicative of performance for any subsequent periods.
  2. 2. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Small and mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized or mid-sized company, if any gain is realized at all. Event-linked securities are fixed income securities, otherwise known as Cat Bonds, for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, the Fund may lose all or a portion of its principal and additional interest. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.  Commodity-linked investments are speculative and have substantial risks, including the loss of principal. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  3. 3. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  4. 4. Fund performance reflects fee waivers, absent which, performance data quoted would have been lower. Total annual fund operating expenses after any contractual fee waivers and/or expense reimbursements by the adviser in effect through May 28, 2021. See current prospectus for more information.
  5. 5. If the benchmark is MSCI, the blended returns are calculated by Invesco using end of day index level values licensed from MSCI (“MSCI Data”). For the avoidance of doubt, MSCI is not the benchmark “administrator” for, or a “contributor”, “submitter” or “supervised contributor” to, the blended returns, and the MSCI Data is not considered a “contribution” or “submission” in relation to the blended returns, as those terms may be defined in any rules, laws, regulations, legislation or international standards. MSCI Data is provided “AS IS” without warranty or liability and no copying or distribution is permitted. MSCI does not make any representation regarding the advisability of any investment or strategy and does not sponsor, promote, issue, sell or otherwise recommend or endorse any investment or strategy, including any financial products or strategies based on, tracking or otherwise utilizing any MSCI Data, models, analytics or other materials or information.
  6. 6. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  7. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  8. B. Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.
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