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Trending ETFs

Invesco Global Real Estate Income Fund

mutual fund
ASRYX
Payout Change
Pending
Price as of:
$8.08 -0.01 -0.12%
primary theme
International Real Estate
ASRYX (Mutual Fund)

Invesco Global Real Estate Income Fund

Payout Change
Pending
Price as of:
$8.08 -0.01 -0.12%
primary theme
International Real Estate
ASRYX (Mutual Fund)

Invesco Global Real Estate Income Fund

Payout Change
Pending
Price as of:
$8.08 -0.01 -0.12%
primary theme
International Real Estate

Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.08

$584 M

3.45%

$0.28

0.96%

Vitals

YTD Return

-2.6%

1 yr return

7.1%

3 Yr Avg Return

-1.8%

5 Yr Avg Return

1.0%

Net Assets

$584 M

Holdings in Top 10

31.5%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.96%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.08

$584 M

3.45%

$0.28

0.96%

ASRYX - Profile

Distributions

  • YTD Total Return -2.6%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.87%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Invesco Global Real Estate Income Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Oct 03, 2008
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Blackburn

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in the securities of real estate and real estate related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.The Fund invests primarily in real estate investment trusts (REITs), depositary receipts, equity securities (including common and preferred stock and convertible securities) of domestic and foreign issuers, and debt securities of domestic and foreign issuers (including corporate debt obligations and commercial mortgage-backed securities).
The Fund will concentrate its investments in the securities of domestic and foreign companies principally engaged in the real estate industry and other real estate related investments. For purposes of the Fund’s 80% policy, the Fund considers an issuer to be a real estate or real estate related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, financing, construction, management, or sale of residential, commercial or industrial real estate. These issuers include: (i) listed equity REITs and other real estate operating issuers that either (a) own property or make construction or mortgage loans, (b) are real estate developers, or (c) are companies with substantial real estate holdings; and (ii) other issuers whose products and services are related to the real estate industry. Other real estate related investments may include but are not limited to commercial or residential mortgage backed securities, commercial property whole loans, and other types of equity and debt securities related to the real estate industry.
The Fund may invest up to 30% of its net assets in below-investment grade securities (commonly known as “junk bonds”) of real estate and real estate related issuers.
Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries, including the U.S. The Fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.
The Fund may invest in securities of issuers of all capitalization sizes. Real estate companies tend to have smaller asset bases compared with other market sectors, therefore, the Fund may hold a significant amount of securities of small- and mid-capitalization issuers.
The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”).
The Fund can invest in derivative instruments including forward foreign currency contracts.
The Fund can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities
are denominated; though the Fund has not historically used these instruments.
The portfolio managers evaluate securities based primarily on the relative attractiveness of income with a secondary consideration for the potential for capital appreciation. The qualified investment universe includes global public real estate equity and debt securities. When constructing the portfolio, the portfolio managers first set a strategic equity versus debt asset allocation and then apply a fundamentals-driven investment process. The equity versus debt allocation is determined by assessing the implied market pricing and projected risk adjusted returns of equity and debt investment alternatives. This assessment is conducted while seeking to achieve a level of diversification within asset categories and is influenced by a variety of factors including the macroeconomic environment, capital market sentiment, absolute return expectations, liquidity and distribution of return outcomes. Following the strategic asset allocation decision, the fundamental real estate and securities analysis includes an evaluation of factors such as property market cycle analysis, property evaluation, management and structure review, as well as relative value analysis using earnings data and other fundamental variables to identify securities with characteristics including (i) attractive relative yields; (ii) favorable property market outlook; and (iii) attractive valuations relative to peer investment alternatives.
The portfolio managers seek to limit risk through various controls, such as diversifying the portfolio asset categories, property types and geographic areas, as well as by considering the relative liquidity of each security and limiting the size of any one holding.
The portfolio managers will consider selling a security if they conclude: (1) its relative yield and/or valuation have fallen below desired levels, (2) its risk/return profile has changed significantly, (3) its fundamentals have changed significantly, or (4) a more attractive investment opportunity is identified.
As part of the Fund’s investment process to implement its investment strategy in pursuit of its investment objective, the Fund’s portfolio managers may also consider both qualitative and quantitative environmental, social and governance (“ESG”) factors they believe to be material to understand an issuer’s fundamentals, assess whether any ESG factors pose a material financial risk or opportunity to the issuer and determine whether such risks are appropriately reflected in the issuer’s valuation. This analysis may involve the use of third-party research as well as proprietary research. Consideration of ESG factors is just one component of the portfolio managers' assessment of issuers eligible for investment and not necessarily determinative to an investment decision. Therefore, the Fund’s portfolio managers may still invest in securities of issuers that may be viewed as having a high ESG risk profile. The ESG factors considered by the Fund’s portfolio managers may change over time, one or more factors may not be relevant with respect to all issuers eligible for investment and ESG considerations may not be applied to each issuer or Fund investment.
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ASRYX - Performance

Return Ranking - Trailing

Period ASRYX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -9.0% 11.3% 77.35%
1 Yr 7.1% -14.8% 22.5% 68.51%
3 Yr -1.8%* -14.9% 21.0% 18.24%
5 Yr 1.0%* -9.2% 17.3% 50.30%
10 Yr 2.7%* -2.4% 11.2% 63.81%

* Annualized

Return Ranking - Calendar

Period ASRYX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -16.8% 16.7% 48.04%
2022 -22.6% -43.9% 4.5% 4.02%
2021 17.6% -13.9% 30.7% 64.71%
2020 -7.6% -20.7% 13.7% 61.18%
2019 9.4% 1.0% 26.5% 84.02%

Total Return Ranking - Trailing

Period ASRYX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -9.0% 11.3% 77.35%
1 Yr 7.1% -14.8% 22.5% 68.51%
3 Yr -1.8%* -14.9% 21.0% 18.24%
5 Yr 1.0%* -9.2% 17.3% 50.30%
10 Yr 2.7%* -2.4% 11.2% 63.81%

* Annualized

Total Return Ranking - Calendar

Period ASRYX Return Category Return Low Category Return High Rank in Category (%)
2023 12.2% -14.6% 23.4% 21.79%
2022 -20.7% -39.5% 10.1% 4.02%
2021 20.2% 5.7% 101.8% 84.71%
2020 -4.9% -17.8% 14.7% 54.71%
2019 19.0% 6.7% 37.2% 92.90%

NAV & Total Return History


ASRYX - Holdings

Concentration Analysis

ASRYX Category Low Category High ASRYX % Rank
Net Assets 584 M 4.31 M 9.6 B 28.65%
Number of Holdings 91 5 682 27.62%
Net Assets in Top 10 184 M 1.87 M 6.34 B 37.02%
Weighting of Top 10 31.51% 19.9% 63.6% 86.67%

Top 10 Holdings

  1. Prologis, Inc. 5.47%
  2. Alexandria Real Estate Equities, Inc. 3.54%
  3. Healthpeak Properties, Inc. 3.46%
  4. Rexford Industrial Realty, Inc. 3.34%
  5. Equinix, Inc. 3.30%
  6. Public Storage 3.01%
  7. Mitsui Fudosan Co., Ltd. 2.59%
  8. Vonovia SE 2.38%
  9. UMH Properties, Inc., Series D, Pfd. 2.28%
  10. Prima Capital CRE Securitization Ltd., Series 2019-RK1, Class BT 2.15%

Asset Allocation

Weighting Return Low Return High ASRYX % Rank
Stocks
66.45% 3.65% 126.54% 97.24%
Bonds
23.57% 0.00% 23.57% 1.66%
Preferred Stocks
7.47% 0.00% 7.47% 1.66%
Cash
4.78% 0.00% 10.38% 16.02%
Other
0.00% -33.49% 63.49% 65.19%
Convertible Bonds
0.00% 0.00% 0.07% 45.00%

Stock Sector Breakdown

Weighting Return Low Return High ASRYX % Rank
Real Estate
96.65% 72.53% 100.00% 67.80%
Communication Services
1.49% 0.00% 10.08% 22.60%
Utilities
0.96% 0.00% 0.96% 1.69%
Consumer Cyclical
0.89% 0.00% 13.03% 44.63%
Technology
0.00% 0.00% 4.92% 69.49%
Industrials
0.00% 0.00% 4.91% 54.80%
Healthcare
0.00% 0.00% 1.54% 51.41%
Financial Services
0.00% 0.00% 9.53% 54.80%
Energy
0.00% 0.00% 0.11% 44.63%
Consumer Defense
0.00% 0.00% 0.18% 46.33%
Basic Materials
0.00% 0.00% 1.63% 47.46%

Stock Geographic Breakdown

Weighting Return Low Return High ASRYX % Rank
US
39.72% 0.00% 99.38% 85.64%
Non US
26.73% 0.00% 98.96% 96.69%

Bond Sector Breakdown

Weighting Return Low Return High ASRYX % Rank
Corporate
76.65% 0.00% 99.92% 2.26%
Cash & Equivalents
4.78% 0.00% 100.00% 15.56%
Securitized
3.89% 0.00% 15.27% 3.39%
Derivative
0.00% -0.04% 3.19% 53.33%
Municipal
0.00% 0.00% 0.00% 43.50%
Government
0.00% 0.00% 9.24% 44.07%

Bond Geographic Breakdown

Weighting Return Low Return High ASRYX % Rank
US
23.57% 0.00% 23.57% 1.66%
Non US
0.00% 0.00% 0.00% 43.65%

ASRYX - Expenses

Operational Fees

ASRYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.96% 0.11% 36.96% 75.14%
Management Fee 0.74% 0.09% 1.50% 31.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.25% N/A

Sales Fees

ASRYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

ASRYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ASRYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 165.00% 31.40%

ASRYX - Distributions

Dividend Yield Analysis

ASRYX Category Low Category High ASRYX % Rank
Dividend Yield 3.45% 0.00% 5.52% 9.94%

Dividend Distribution Analysis

ASRYX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

ASRYX Category Low Category High ASRYX % Rank
Net Income Ratio 1.87% -0.23% 3.84% 27.12%

Capital Gain Distribution Analysis

ASRYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

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ASRYX - Fund Manager Analysis

Managers

Mark Blackburn


Start Date

Tenure

Tenure Rank

Mar 12, 2007

15.23

15.2%

Mr. Blackburn is an Invesco Managing Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as Director of Securities Research and a Portfolio Manager. Prior to joining Invesco in 1998, he worked as an Associate Director of Research focusing on equity securities research and recommendations with a regional brokerage firm. He is a member of the National Association of Real Estate Investment Trusts (NAREIT).

Darin Turner


Start Date

Tenure

Tenure Rank

Dec 04, 2009

12.5

12.5%

Darin Turner is a portfolio manager and member of the Real Estate Securities Portfolio Management and Research Team with Invesco Real Estate. His current duties involve evaluating structured real estate securities with a focus on fi xed-income instruments such as commercial mortgage-backed securities, corporate debt and corporate preferred stock. Mr. Turner also provides tenant and credit quality analysis, capital structure analysis and debt pricing analysis for equity portfolios. Mr. Turner joined Invesco in 2005 as an acquisitions analyst.

James Cowen


Start Date

Tenure

Tenure Rank

Dec 21, 2012

9.45

9.5%

Mr. Cowen is a Portfolio Manager with the Invesco Real Estate Global Securities Team. He has 18 years of experience in real estate and has worked for Invesco for 15 years. Prior to joining the team in 2004, he worked in a real estate corporate finance role for Invesco in Europe and as an analyst for a management consulting business based in London. He has a Bachelor and Masters Degree from the University of Manchester and a M.Phil degree from Cambridge University. He is a member of the UK Society of Investment Professionals, UK Securities & Investment Institute and is a UK FSA approved person.

Ping-Ying Wang


Start Date

Tenure

Tenure Rank

Dec 21, 2012

9.45

9.5%

Ms. Wang is an Invesco Senior Director and a Portfolio Manager on the Real Estate Securities Investment Team.Ms. Wang evaluates global real estate companies with a particular focus on Asian and North American countries while managing and performing portfolio risk analysis. In addition to these duties, Ms. Wang formulates investment strategies, spearheads thematic research projects and serves on the Real Estate Securities Management Executive Committee. She holds the Chartered Financial Analyst designation.

Grant Jackson


Start Date

Tenure

Tenure Rank

Dec 21, 2018

3.44

3.4%

Grant Jackson is a senior director and portfolio manager with Invesco Real Estate’s Global Securities team. Mr. Jackson began his investment career in 2002 and joined Invesco in 2005. Prior to joining Invesco, he worked for PricewaterhouseCoopers Consulting where he was engaged in various technical roles involving data management, database coordination, and application development. Mr. Jackson earned a BS in Mechanical Engineering from the University of Texas at Austin and a MBA from Southern Methodist University’s Cox School of Business. Mr. Jackson is a CFA® charterholder.

Charles (Chip) McKinley


Start Date

Tenure

Tenure Rank

Jan 06, 2022

0.4

0.4%

Chip McKinley, Senior Vice President, is a portfolio manager for global real estate securities portfolios. Prior to joining Cohen & Steers in 2007, Mr. McKinley was a portfolio manager and REIT analyst at Franklin Templeton Real Estate Advisors. Previously, he was with Fidelity Investments. Mr. McKinley holds a BA from Southern Methodist University and an MBA from Cornell University. He is based in New York.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 20.42 7.16 10.42