Fund Facts  

Inception Date: Aug 3, 1960
CUSIP: 00142J479
Ticker Symbol: ACEIX
Morningstar Category:Allocation--50% to 70% Equity
As of Mar 31, 2018
Fund Net Assets ($millions) $14,465

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks current income and, secondarily, 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 equity and income securities, and in derivatives and other instruments that have economic characteristics similar to such securities. It invests, under normal circumstances, at least 65% of its net assets in income-producing equity investments, such as dividend paying common or preferred stocks. The fund may invest up to 25% of its net assets in securities of foreign issuers or depositary receipts.

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 Mar 31, 2018
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Equity and Incomea-2.11%-2.11%6.05%6.77%8.68%7.59%10.18%
Russell 1000 Value Indexa,b-2.83%-2.83%6.95%7.88%10.78%7.78%N/A
Morningstar Allocation -- 50% to 70% Equitya,c-1.26%-1.26%7.78%4.89%6.55%6.06%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,d
Gross Expenses0.81%
Net Expenses0.80%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2018 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 Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.

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.

d. Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Mar 22, 2018Mar 22, 2018$0.038900000
Dec 13, 2017Dec 13, 2017$0.621100000
Sep 14, 2017Sep 14, 2017$0.038900000
Jun 15, 2017Jun 15, 2017$0.038900000
Mar 16, 2017Mar 16, 2017$0.038900000
Dec 13, 2016Dec 13, 2016$0.352900000
Sep 15, 2016Sep 15, 2016$0.040600000
Jun 16, 2016Jun 16, 2016$0.040600000
Mar 17, 2016Mar 17, 2016$0.040600000
Dec 11, 2015Dec 11, 2015$0.372200000
Sep 17, 2015Sep 17, 2015$0.041600000
 

Morningstar Information

Morningstar RatingTM   As of Mar 31, 2018
Period Stars Category Size
Overall 4 Stars680
3-Year 4 Stars680
5-Year 4 Stars628
10-Year 4 Stars442

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 Mar 31, 2018
Equity Stylebox Fixed Income Stylebox
Large ValueMedium Moderate
Allocation of Assets As of Dec 31, 2017
Type of Asset Percent
Equity65%
Fixed Income29%
Cash/Other7%

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

 
 

Characteristics

Allocation of Assets As of Dec 31, 2017
Asset ClassPercent
Domestic Stock56.4%
Foreign Stock8.4%
Domestic Bond19.5%
Foreign Bond1.5%
Preferred0.5%
Convertible7.1%
Cash6.6%
Other0.0%

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

 
Fixed Income Sector As of Dec 31, 2017
SectorPercent
Corporate20.4%
Government10.5%
Cash & Equivalents4.0%
Securitized0.2%
Municipal0.1%

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

 
Credit Quality As of Dec 31, 2017
Quality LevelPercent
AAA53.8%
AA5.1%
A19.2%
BBB21.9%
BB0.0%
B0.0%
Below B0.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Dec 31, 2017
Holding NamePercent
Citigroup Inc3.8%
Bank of America Corporation3.2%
US Treasury Note 1.75%3.1%
US Treasury Note 2%2.8%
JPMorgan Chase & Co2.6%
Morgan Stanley2.1%
Citizens Financial Group Inc1.8%
Royal Dutch Shell PLC Class A1.5%
Oracle Corp1.5%
Occidental Petroleum Corp1.3%
 

Statistics

Portfolio Statistics As of Mar 31, 2018
Statistic3-Year5-Year
Beta0.810.77
Alpha0.260.31
Standard Deviation8.707.99
 
 

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 © 2018 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.