Fund Facts  

Inception Date: Apr 29, 2005
CUSIP: 00142C367
Ticker Symbol: AGREX
Morningstar Category:Global Real Estate
As of Sep 30, 2017
Fund Net Assets ($millions) $1,374

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks total return through growth of capital and current income.

Principal Investment Strategies  

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. It invests primarily in real estate investment trusts (REITs) and equity securities (including common and preferred stock, and convertible securities) of domestic and foreign issuers. The fund will provide exposure to investments that are economically tied to at least three different countries, including the U.S.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Global Real Estate Aa2.50%8.67%1.85%4.99%6.14%1.32%5.68%
MSCI World Index (Net)a,b4.84%16.01%18.17%7.69%10.99%4.22%N/A
Morningstar Global Real Estatea,c2.49%10.00%3.66%5.62%6.66%1.49%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund Expensesa
Gross Expenses1.36%
Net Expenses1.36%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (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 and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance around the world. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 14, 2017Sep 14, 2017$0.034900000
Jun 15, 2017Jun 15, 2017$0.035100000
Mar 16, 2017Mar 16, 2017$0.035100000
Dec 13, 2016Dec 13, 2016$0.335500000
Sep 15, 2016Sep 15, 2016$0.048900000
Jun 16, 2016Jun 16, 2016$0.049300000
Mar 17, 2016Mar 17, 2016$0.039000000
Dec 11, 2015Dec 11, 2015$0.112500000
Sep 17, 2015Sep 17, 2015$0.039000000
Jun 18, 2015Jun 18, 2015$0.039000000
Mar 19, 2015Mar 19, 2015$0.037700000
Dec 30, 2014Dec 30, 2014$0.165400000
Dec 12, 2014Dec 12, 2014$0.039000000
Sep 18, 2014Sep 18, 2014$0.038800000
Jun 19, 2014Jun 19, 2014$0.038700000
Mar 20, 2014Mar 20, 2014$0.055700000
Sep 19, 2013Sep 19, 2013$0.065900000
Jun 20, 2013Jun 20, 2013$0.056400000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 3 Stars184
3-Year 3 Stars184
5-Year 3 Stars151
10-Year 3 Stars87

The Morningstar Rating™ 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. 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. 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.

Allocation of Assets As of Jun 30, 2017
Type of Asset Percent
Equity94%
Fixed Income0%
Cash/Other6%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Jun 30, 2017
Asset ClassPercent
Domestic Stock48.6%
Foreign Stock45.6%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash1.1%
Other4.7%

Due to rounding, percentages shown may not add up to 100%.

 
Top Ten Holdings As of Jun 30, 2017
Holding NamePercent
Simon Property Group Inc3.5%
Equity Residential2.7%
Public Storage2.5%
Prologis Inc2.4%
Boston Properties Inc2.4%
AvalonBay Communities Inc2.3%
Mitsui Fudosan Co Ltd2.1%
Mitsubishi Estate Co Ltd2.1%
Vornado Realty Trust1.9%
Unibail-Rodamco SE1.8%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta0.670.74
Alpha0.04-1.50
Standard Deviation11.2211.57
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® 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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.