Morningstar Fund Report  | 11/04/2025Print

Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR
Fund-2.0-5.16.3-0.12.3
+/-Cat0.70.12.0-0.30.9
+/-B’mrk2.13.31.30.20.9
 
Category: EUR Cautious Allocation
Category Benchmark: Morningstar EU Cau Tgt Allo...
Key Stats
NAV
10/04/2025		 EUR 22.88
Day Change 0.97%
Morningstar Category™ EUR Cautious Allocation
ISIN LU0243957742
Fund Size (Mil)
09/04/2025		 EUR 6313.04
Share Class Size (Mil)
09/04/2025		 EUR 1156.79
Max Initial Charge -
Ongoing Charge
15/11/2024		  2.11%
Morningstar Research
Analyst Report03/06/2024
Thomas De Fauw, Analyst
Morningstar, Inc

After the announced retirement of longtime managers Paul Causer and Paul Read, we downgraded Invesco Pan European High Income’s People rating to Average in 2021. We are retaining that score given that new lead manager Thomas Moore has only been...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent23
Process24
Performance
Price
Investment Objective: Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR
The Fund aims to achieve a high level of income together with long-term capital growth. The Fund seeks to achieve its objective by investing primarily in European securities (debt and equity). At least 50% of the NAV will be invested in debt securities. Up to 30% of the NAV of the Fund may be invested in aggregate in Money Market Instruments, equity and equity-related securities issued by companies or other entities not meeting the above requirements or in convertible debt of issuers worldwide.
Returns
Trailing Returns (GBP)10/04/2025
YTD2.58
3 Years Annualised2.87
5 Years Annualised3.42
10 Years Annualised3.23
12 Month Yield 0.00
Management
Manager Name
Start Date
Thomas Moore
31/08/2020
Oliver Collin
30/11/2022
Click here to see others
Inception Date
31/03/2006

Category Benchmark
Fund BenchmarkMorningstar Benchmark
20% MSCI Europe Ex UK NR EUR ,  35% Bloomberg Pan Euro Agg Corp TR Hdg EUR ,  45% ICE BofA Euro High Yield TR EURMorningstar EU Cau Tgt Alloc NR EUR
Portfolio Profile for  Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR31/03/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock20.150.0020.15
Bond72.740.0072.74
Property0.000.000.00
Cash44.0638.625.44
Other1.680.001.68
Fixed Income
Effective Maturity3.77
Effective Duration3.04
Top 5 Regions%
Eurozone79.82
Europe - ex Euro12.31
United Kingdom7.28
Asia - Developed0.59
Africa0.00
Top 5 Sectors%
Financial Services22.28
Healthcare14.48
Consumer Defensive13.34
Industrials13.12
Technology8.95
Top 5 HoldingsSector%
Invesco Euro Liquidity Port Agcy... 1.69
Banco Santander, S.A. 7%1.01
E.ON SEUtilitiesUtilities0.98
Allianz SEFinancial ServicesFinancial Services0.97
AXA SAFinancial ServicesFinancial Services0.81
Increase Decrease New since last portfolio
Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR
Growth Of 1000 (GBP) 31/03/2025
Fund:  Invesco Funds - Invesco Pan European High Income Fund E Accumulation EUR
Category:  EUR Cautious Allocation
Category Index:  Morningstar EU Cau Tgt Alloc NR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-5.895.467.26-1.98-5.156.27-0.122.30
+/- Category-2.174.720.890.670.062.00-0.260.93
+/- Category Index-5.413.18-1.762.113.311.320.200.89
% Rank in Category867373649205424
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.97   0.05-0.18
1 Week-0.37   -0.65-1.83
1 Month-1.18   -0.68-2.39
3 Months1.07   1.03-1.21
6 Months1.38   0.67-0.83
YTD2.58   1.32-0.62
1 Year2.27   0.87-0.90
3 Years Annualised2.87   1.361.17
5 Years Annualised3.42   1.832.73
10 Years Annualised3.23   0.830.42
 
Category: EUR Cautious Allocation
Category Index: Morningstar EU Cau Tgt Alloc NR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20252.30---
20240.130.270.54-1.05
20230.25-0.681.325.35
2022-3.51-6.35-1.716.80
2021-3.082.550.48-1.84
2020-9.8813.211.453.63
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAbove Average3 star
5-YearAbove AverageAbove Average4 star
10-YearAbove AverageHigh4 star
OverallAbove AverageHigh4 star
 
Category :  EUR Cautious AllocationClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.60 %
3-Yr Mean Return2.41 %
 
3-Yr Sharpe Ratio-0.24
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EU Cau Tgt Alloc NR EUR  Morningstar EZN HY Bd GR EUR
3-Yr Beta0.940.96
3-Yr Alpha1.71-1.86
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)EUR 54918-
Market Capitalisation% of Equity
Giant47.71
Large39.54
Medium11.88
Small0.87
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.020.77
Price/Book1.640.75
Price/Sales0.850.55
Price/Cash Flow5.050.47
Dividend-Yield Factor4.861.57
 
Long-Term Projected Earnings Growth8.050.81
Historical Earnings Growth1.050.14
Sales Growth2.860.96
Cash-Flow Growth-7.08-1.10
Book-Value Growth6.302.13
 
Category: EUR Cautious Allocation
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)EUR 6475
Maturity Distribution %
1 to 324.06
3 to 524.43
5 to 723.85
7 to 108.66
10 to 152.08
15 to 202.63
20 to 308.94
Over 302.98
Effective Maturity3.77
Effective Duration3.04
Credit Quality Breakdown %     %
AAA4.56   BB34.26
AA2.89   B16.04
A6.77   Below B3.31
BBB29.83   Not Rated2.35
 
Category: EUR Cautious Allocation
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock20.150.0020.15
Bond72.740.0072.74
Property0.000.000.00
Cash44.0638.625.44
Other1.680.001.68
World Regions31/03/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom7.281.56
Eurozone79.821.40
Europe - ex Euro12.311.62
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed0.590.80
Asia - Emerging0.000.00
 
Category: EUR Cautious Allocation
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials5.591.25
Consumer CyclicalConsumer Cyclical5.850.53
Financial ServicesFinancial Services22.281.20
Consumer DefensiveConsumer Defensive13.342.07
HealthcareHealthcare14.481.30
UtilitiesUtilities7.772.36
Communication ServicesCommunication Services3.980.69
EnergyEnergy4.651.66
IndustrialsIndustrials13.120.79
TechnologyTechnology8.950.48
 
Category: EUR Cautious Allocation
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings48
Total Number of Bond Holdings408
Assets in Top 10 Holdings9.17
NameSectorCountry% of Assets
Invesco Euro Liquidity Port Agcy AccIreland1.69
Banco Santander, S.A. 7%Spain1.01
E.ON SE207Germany0.98
Allianz SE103Germany0.97
AXA SA103France0.81
UniCredit S.p.A. 5.375%Italy0.77
Intesa Sanpaolo103Italy0.77
Roche Holding AG206Switzerland0.75
The Very Group Funding PLC 6.5%United Kingdom0.71
United States Treasury Notes 3.875%United States0.69
 
Increase Decrease New since last portfolio
Category: EUR Cautious Allocation
 
Management
Name of CompanyInvesco Management S.A.
Phone(+353) 1 4398100
Websitewww.invescomanagementcompany.lu
Address37A Avenue JF Kennedy
 Luxembourg   L-1855
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date31/03/2006
Fund Advisor(s)
Invesco Asset Management Ltd
Fund ManagerThomas Moore
Manager Start Date31/08/2020
 
Biography
Moore is a vice president of the Morgan Stanley Investment Advisor Inc., his employer since August 1999.
Fund ManagerOliver Collin
Manager Start Date30/11/2022
Career Start Year2000
Education
London School of Economics, B.S.
 
Biography
Oliver joined Invesco in July 2014 as an analyst within Invesco’s European Equities team. His career started in September 2000 with ING Barings, initially within their graduate programme, before becoming a member of their Institutional Equity Sales team, specialising in Pan European mid-cap equities. In January 2006 he joined Berenberg Bank where he specialised in French mid-cap institutional equity sales. In November 2010 he joined Exane BNP Paribas where he latterly led their Pan European Mid Cap Sales team after becoming a Partner in the firm in November 2011. Oliver holds a BSc (Honours) in Economics & Politics from the London School of Economics.
Fund ManagerAlexandra Ivanova
Manager Start Date31/08/2021
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.75%
Ongoing Charge2.11%
Purchase Details
Minimum Investments
Initial400  GBP
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes