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IARRX Invesco Real Estate R

  • Fund
  • IARRX
  • Price as of: Nov 17, 2017
  • $22.51
  • - $0.11
  • - 0.49%
  • Category
  • Real Estate

IARRX - Profile

Vitals

  • YTD Return 8.1%
  • 3 Yr Annualized Return -5.5%
  • 5 Yr Annualized Return -2.0%
  • Net Assets $1.63 B
  • Holdings in Top 10 45.0%

52 WEEK LOW AND HIGH

$22.51
$20.26
$23.96

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.49%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 52.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Real Estate

Distributions

  • YTD Total Return 8.1%
  • 3 Yr Annualized Total Return -3.8%
  • 5 Yr Annualized Total Return 4.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.06%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Invesco Real Estate Fund
  • Fund Family Name Invesco
  • Inception Date Apr 30, 2004
  • Shares Outstanding N/A
  • Share Class Retirement
  • Currency USD
  • Domiciled Country United States
  • Manager Ping-Ying Wang

Fund Description

The fund invests, under normal circumstances, 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 may also invest in debt securities, including corporate debt obligations and commercial mortgage-backed securities. The fund may invest up to 10% of its net assets in non-investment grade debt securities (commonly known as "junk bonds") of real estate and real estate-related issuers.

IARRX - Performance

Return Ranking - Trailing

Period IARRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.1% -15.4% 26.7% 11.69% 1
1 Yr -0.7% -40.6% 34.3% 79.52% 5
3 Yr -5.5% * -8.0% 14.3% 88.41% 5
5 Yr -2.0% * 4.5% 13.1% 92.68% 5
10 Yr -2.9% * 1.9% 8.5% 93.63% 5

* Annualized


Return Ranking - Calendar

Period IARRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -9.1% -23.9% 8.6% 80.67% 5
2015 -13.5% -21.2% 21.0% 83.40% 5
2014 22.0% -7.8% 31.5% 53.36% 3
2013 -11.2% -23.2% 27.2% 76.73% 5
2012 6.7% 0.0% 40.4% 82.90% 5

Total Return Ranking - Trailing

Period IARRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.1% -7.5% 26.7% 12.08% 1
1 Yr -0.7% -19.9% 90.7% 74.30% 4
3 Yr -3.8% * 0.1% 14.3% 98.28% 5
5 Yr 4.3% * 4.5% 13.1% 99.02% 5
10 Yr 3.0% * 1.9% 8.5% 93.63% 5

* Annualized


Total Return Ranking - Calendar

Period IARRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -8.4% -16.3% 9.4% 91.88% 5
2015 -13.2% -13.5% 40.1% 97.84% 5
2014 29.6% -1.7% 82.5% 76.26% 4
2013 1.6% -28.3% 28.4% 58.59% 3
2012 22.7% 0.0% 117.5% 55.56% 3

NAV & Total Return History

IARRX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

IARRX Category Low Category High IARRX % Rank Quintile
Net Assets 1.63 B 3.39 M 63 B 9.09% 2
Number of Holdings 67 5 578 9.49% 2
Net Assets in Top 10 741 M 711 K 24.8 B 8.30% 2
Weighting of Top 10 45.0% 3.7% 151.2% 20.16% 3

Top 10 Holdings

  1. Simon Property Group Inc 5.70%
  2. American Tower Corp 6.66%
  3. Boston Properties Inc 3.86%
  4. Equinix Inc 5.15%
  5. Crown Castle International Corp 4.34%
  6. Public Storage 4.13%
  7. Weyerhaeuser Co 4.07%
  8. Equity Residential 4.46%
  9. Prologis Inc 3.98%
  10. Essex Property Trust Inc 2.69%

Asset Allocation

Weighting Category Low Category High IARRX % Rank Quintile
Stocks
98.44% 1.09% 101.63% 16.60% 3
Cash
1.45% -109.96% 74.22% 16.60% 2
Other
0.11% -1.10% 108.20% 8.30% 1
Preferred Stocks
0.00% -0.01% 47.26% 6.32% 4
Convertible Bonds
0.00% 0.00% 5.89% 2.77% 3
Bonds
0.00% 0.00% 100.66% 5.93% 4

Stock Sector Breakdown

Weighting Category Low Category High IARRX % Rank Quintile
Real Estate
79.04% 0.00% 100.00% 33.20% 4
Communication Services
13.23% 0.00% 13.84% 0.79% 1
Basic Materials
4.13% 0.00% 20.64% 2.77% 1
Consumer Cyclical
1.65% 0.00% 42.68% 14.62% 2
Healthcare
0.39% 0.00% 4.21% 3.56% 1
Utilities
0.00% 0.00% 16.80% 1.58% 3
Technology
0.00% -0.04% 7.70% 5.53% 3
Industrials
0.00% -0.09% 11.94% 5.14% 3
Financial Services
0.00% 0.00% 21.08% 4.74% 4
Energy
0.00% 0.00% 38.67% 1.98% 3
Consumer Defense
0.00% -0.28% 0.89% 1.58% 3

Stock Geographic Breakdown

Weighting Category Low Category High IARRX % Rank Quintile
US
98.44% 1.00% 101.63% 14.62% 3
Non US
0.00% 0.00% 46.48% 13.04% 4

IARRX - Expenses

Operational Fees

IARRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.49% 0.07% 11.43% 30.83% 3
Management Fee 0.73% 0.00% 1.20% 8.30% 2
12b-1 Fee 0.50% 0.00% 1.00% 2.91% 4
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

IARRX Fees (% of AUM) Category Low Category High IARRX Rank Quintile
Front Load N/A 2.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

IARRX Fees (% of AUM) Category Low Category High IARRX Rank Quintile
Max Redemption Fee N/A 0.75% 2.00% N/A N/A

Turnover 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.

IARRX Fees (% of AUM) Category Low Category High IARRX Rank Quintile
Turnover 52.00% 3.00% 1060.00% 16.21% 3

IARRX - Distributions

Dividend Yield Analysis

IARRX Category Low Category High IARRX % Rank Quintile
Dividend Yield 0.1% 0.00% 3.78% 69.46% 5

Dividend Distribution Analysis

IARRX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

IARRX Category Low Category High IARRX % Rank Quintile
Net Income Ratio 1.06% -0.81% 5.13% 42.69% 4

Capital Gain Distribution Analysis

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

IARRX - Managers

Ping-Ying Wang

Manager

Start Date

Jan 01, 2006

Tenure

11.84

Tenure Rank

8.4%

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.


Paul S. Curbo

Manager

Start Date

Jan 01, 2007

Tenure

10.84

Tenure Rank

10.8%

Mr. Curbo is an Invesco Senior Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a Portfolio Manager performing quantitative and fundamental research on real estate securities. Mr. Curbo has been a guest on Bloomberg News and CNBC and has been quoted in several publications including the Wall Street Journal and Barron’s. Mr. Curbo joined Invesco in 1998 and worked for several years in the real estate research group as a Senior Research Analyst. He holds the Chartered Financial Analyst® (CFA®) designation.


Darin Turner

Manager

Start Date

Dec 04, 2009

Tenure

7.91

Tenure Rank

14.9%

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.


Mark D. Blackburn

Manager

Start Date

Apr 03, 2000

Tenure

17.59

Tenure Rank

3.3%

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).


James Cowen

Manager

Start Date

Jun 26, 2015

Tenure

2.35

Tenure Rank

25.4%

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.


Joe V. Rodriguez

Lead Manager

Start Date

May 01, 1995

Tenure

22.52

Tenure Rank

1.0%

Rodriguez is a portfolio manager with Invesco Institutional, who has been responsible for the fund since 2007,his employer since 1990. He began his investment career in 1983. He sits on the editorial board for the National Association of Real Estate Investment Trusts and is on the research committee for both the Pension Real Estate Association and the National Council of Real Estate Investment Fiduciaries. Rodriguez holds the Certified Financial Planner designation.


Tenure Analysis

Category Low

0.2

Category High

23.8

Category Average

7.65

Category Mode

0.7