Fund Facts  

Inception Date: Nov 27, 2000
CUSIP: 00142J214
Ticker Symbol: VASCX
Morningstar Category:Small Growth
As of Dec 31, 2016
Fund Net Assets ($millions) $596

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks capital appreciation.

Principal Investment Strategies  

The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small-capitalization companies, and in other instruments that have economic characteristics similar to such securities. It invests primarily in equity securities of small-capitalization companies that the fund's investment adviser believes have above-average potential for capital appreciation. The fund may invest up to 25% of its net assets in securities of foreign issuers.

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 Dec 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Small Cap Discoverya1.44%3.50%3.50%1.95%11.18%6.41%4.18%
S&P 500 Indexa,b3.82%11.96%11.96%8.87%14.66%6.95%N/A
Morningstar Small Growtha,c3.34%11.20%11.20%3.55%12.33%7.08%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 performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total annual fund operating expensesa1.38%
Fee waiver and/or expense reimbursement0.01%
Total Expenses1.37%

A contractual expense waiver exists for this fund and will expire on 06-30-2018.

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2016 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 S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 13, 2016Dec 13, 2016$0.173600000
Dec 11, 2015Dec 11, 2015$1.452700000
Dec 12, 2014Dec 12, 2014$1.746400000
Dec 13, 2013Dec 13, 2013$1.887100000
Dec 7, 2012Dec 7, 2012$1.126000000
 

Morningstar Information

Morningstar RatingTM   As of Dec 31, 2016
Period Stars Category Size
Overall 3 Stars599
3-Year 2 Stars599
5-Year 2 Stars531
10-Year 3 Stars389

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.

Morningstar Stylebox As of Dec 31, 2016
Equity Stylebox
Small Growth
Allocation of Assets As of Sep 30, 2016
Type of Asset Percent
Equity96%
Fixed Income0%
Cash/Other4%

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

 
 

Characteristics

Allocation of Assets As of Sep 30, 2016
Asset ClassPercent
Domestic Stock92.5%
Foreign Stock3.3%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash3.5%
Other0.7%

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

 
Equity Sector As of Sep 30, 2016
SectorPercent
Technology23.5%
Healthcare21.9%
Consumer Cyclical13.4%
Industrials11.9%
Financial Services7.2%
Basic Materials6.5%
Consumer Defensive5.1%
Real Estate3.5%
Energy2.9%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Sep 30, 2016
Holding NamePercent
Wright Medical Group NV1.8%
MarketAxess Holdings Inc1.7%
Euronet Worldwide Inc1.6%
CoStar Group Inc1.5%
MACOM Technology Solutions Holdings Inc1.5%
InterXion Holding NV1.5%
Neurocrine Biosciences Inc1.5%
Cinemark Holdings Inc1.4%
Pool Corp1.4%
Paycom Software Inc1.4%
 

Statistics

Portfolio Statistics As of Dec 31, 2016
Statistic3-Year5-Year
Beta1.171.16
Alpha-7.50-4.80
Standard Deviation15.6114.44
 
 

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

 

The fund company imposes trading restrictions for this investment. If you transfer $5,000 or more out of this investment, you will have limited opportunities to transfer back into this investment for 30 days. Your transfers in will be limited to under $5,000 for a 30-day period following a transfer out of $5,000 or more. Full details are provided in the fund's prospectus.

 

Footnotes

1.

Please read the fund's prospectus 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 before investing. You may contact us to obtain a prospectus or to answer questions 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.