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SARBX Invesco Global Real Estate Income B

  • Fund
  • SARBX
  • Price as of: Dec 05, 2016
  • $8.63
  • + $0.02
  • + 0.23%
  • Category
  • Global Real Estate

SARBX - Profile

Vitals

  • YTD Return 0.1%
  • 3 Yr Annualized Return 3.9%
  • 5 Yr Annualized Return 6.1%
  • Net Assets $990 M
  • Holdings in Top 10 16.1%

52 WEEK LOW AND HIGH

$8.63
$8.19
$9.45

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.99%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 60.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2010-11-30

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 5.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.62%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Invesco Global Real Estate Income Fund
  • Fund Family Name Invesco
  • Inception Date Mar 09, 2007
  • Shares Outstanding N/A
  • Share Class B
  • Currency USD
  • Domiciled Country United States
  • Manager James Cowen

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. It 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.

SARBX - Performance

Return Ranking - Trailing

Period SARBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.1% -31.1% 43.0% 22.40% 2
1 Yr 2.5% -38.5% 15.7% 18.58% 1
3 Yr 3.9% * -4.6% 10.9% 50.29% 3
5 Yr 6.1% * 0.1% 11.3% 86.27% 5
10 Yr 2.8% * -5.7% 5.5% 7.69% 1

* Annualized


Return Ranking - Calendar

Period SARBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.8% -51.8% 1.5% 68.31% 4
2014 9.0% -44.3% 19.4% 52.66% 4
2013 -5.6% -17.6% 6.8% 74.66% 5
2012 11.0% 0.0% 43.2% 88.32% 5
2011 -0.6% -30.9% 10.9% 3.33% 1

Total Return Ranking - Trailing

Period SARBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.4% -29.7% 46.6% 17.58% 1
1 Yr -2.3% -37.1% 19.3% 63.39% 4
3 Yr 3.0% * -6.3% 10.9% 61.71% 4
5 Yr 5.8% * -0.3% 12.8% 82.35% 5
10 Yr 2.8% * -4.6% 5.5% 7.69% 1

* Annualized


Total Return Ranking - Calendar

Period SARBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.1% -9.3% 3.8% 93.41% 5
2014 14.5% -6.7% 61.9% 55.95% 3
2013 -1.0% -16.6% 15.2% 91.72% 5
2012 21.1% 0.0% 84.7% 97.78% 5
2011 3.7% -33.2% 28.4% 4.24% 1

NAV & Total Return History

SARBX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

SARBX Category Low Category High SARBX % Rank Quintile
Net Assets 990 M 2.52 M 4.9 B 7.07% 2
Number of Holdings 177 20 683 4.35% 1
Net Assets in Top 10 166 M 1.21 M 4.02 B 8.70% 2
Weighting of Top 10 16.1% 16.1% 77.8% 30.98% 5

Top 10 Holdings

  1. Land Securities Group PLC 1.93%
  2. Unibail-Rodamco SE 1.40%
  3. Brixmor Property Group Inc 1.57%
  4. Simon Property Group Inc 1.86%
  5. Westfield Corp 1.60%
  6. Retail Opportunity Investments Corp 1.38%
  7. HCP Inc 2.03%
  8. Gs Mtg Secs Tr 2013-Nyc5 CMO 1.33%
  9. Sun Hung Kai Properties Ltd 1.61%
  10. Apple Hospitality REIT Inc 1.36%

Asset Allocation

Weighting Category Low Category High SARBX % Rank Quintile
Stocks
60.52% 60.52% 99.43% 29.89% 5
Bonds
20.89% 0.00% 20.89% 0.54% 1
Preferred Stocks
14.05% 0.00% 14.05% 0.54% 1
Cash
2.99% -0.23% 19.04% 6.52% 1
Other
1.55% 0.00% 9.46% 17.39% 3
Convertible Bonds
0.00% 0.00% 0.60% 1.63% 1

Stock Sector Breakdown

Weighting Category Low Category High SARBX % Rank Quintile
Real Estate
60.07% 59.98% 99.43% 29.89% 5
Financial Services
0.45% 0.00% 6.92% 6.52% 1
Utilities
0.00% 0.00% 2.24% 1.63% 1
Industrials
0.00% 0.00% 5.23% 5.98% 2
Healthcare
0.00% 0.00% 2.81% 5.98% 2
Technology
0.00% 0.00% 1.84% 3.26% 2
Energy
0.00% 0.00% 0.00% 0.54% 1
Communication Services
0.00% 0.00% 4.13% 5.43% 2
Consumer Defense
0.00% 0.00% 0.01% 1.09% 1
Consumer Cyclical
0.00% 0.00% 16.02% 19.02% 4
Basic Materials
0.00% 0.00% 1.49% 3.80% 2

Stock Geographic Breakdown

Weighting Category Low Category High SARBX % Rank Quintile
Non US
30.60% 0.00% 99.43% 28.80% 5
US
29.92% 0.00% 96.52% 21.20% 4

Bond Sector Breakdown

Weighting Category Low Category High SARBX % Rank Quintile
Securitized
18.82% 0.00% 18.82% 0.55% 1
Corporate
16.12% 0.00% 16.12% 0.55% 1
Cash & Equivalents
2.99% -0.23% 19.04% 6.56% 1
Derivative
0.00% -0.54% 0.03% 1.09% 1
Municipal
0.00% 0.00% 0.00% 0.55% 1
Government
0.00% 0.00% 0.67% 1.64% 1

Bond Geographic Breakdown

Weighting Category Low Category High SARBX % Rank Quintile
US
19.12% 0.00% 19.12% 0.54% 1
Non US
1.77% 0.00% 1.77% 0.54% 1

SARBX - Expenses

Operational Fees

SARBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.99% 0.16% 5.63% 21.74% 4
Management Fee 0.74% 0.12% 1.20% 9.24% 1
12b-1 Fee 1.00% 0.00% 1.00% 0.91% 4
Administrative Fee N/A 0.01% 0.26% N/A N/A

Sales Fees

SARBX Fees (% of AUM) Category Low Category High SARBX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load 5.00% 1.00% 5.00% 2.38% 4

Trading Fees

SARBX Fees (% of AUM) Category Low Category High SARBX Rank Quintile
Max Redemption Fee N/A 0.25% 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.

SARBX Fees (% of AUM) Category Low Category High SARBX Rank Quintile
Turnover 60.00% 1.00% 289.00% 11.41% 3

SARBX - Distributions

Dividend Yield Analysis

SARBX Category Low Category High SARBX % Rank Quintile
Dividend Yield 0.4% 0.01% 1.15% 24.12% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SARBX Category Low Category High SARBX % Rank Quintile
Net Income Ratio 2.62% 0.32% 6.46% 13.04% 1

Capital Gain Distribution Analysis

SARBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SARBX - Managers

James Cowen

Manager

Start Date

Dec 21, 2012

Tenure

3.86

Tenure Rank

12.0%

James is a portfolio manager at Invesco Real Estate. James began his investment career in 1999 as a financial analyst for Jonathan Edwards Consulting before joining the company in 2001 as a corporate finance associate for the Invesco Real Estate team. He then became a securities analyst in 2004 and was promoted to a portfolio manager for Invesco Global Real Estate Fund in 2008. James earned his M.Phil. in Land Economics from the University of Cambridge and his BA (Hons.) from the University of Manchester.


Ping-Ying Wang

Manager

Start Date

Dec 21, 2012

Tenure

3.86

Tenure Rank

12.0%

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

Mar 12, 2007

Tenure

9.65

Tenure Rank

5.3%

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

6.91

Tenure Rank

8.5%

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.


Mark D. Blackburn

Manager

Start Date

May 31, 2002

Tenure

14.43

Tenure Rank

1.8%

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).


Joe V. Rodriguez

Lead Manager

Start Date

May 31, 2002

Tenure

14.43

Tenure Rank

1.8%

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

0.0

Category High

27.8

Category Average

6.94

Category Mode

4.8