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Invesco Pan European Structured Equity Fund31 May 2020
Morningstar RatingTM*AAAA
Invesco Funds Hotline: (852) 3191 8282 Invesco Distributors Hotline: (852) 3191 8000 Fax: (852) 3128 6500 Email: [email protected] Website: www.invesco.com.hk
Important Information
202003(AP311)
Prospectus andFinancial Reports
KFS of the fund
The investment performances are denominated in EUR. US/HK dollar-based investors are therefore exposed to fluctuations in exchange rates.Investment involves risks. Past performance is not indicative offuture performance. Investors should read the relevant prospectus for details, including the risk factors and product features. This material has not been reviewed by the Securities and Futures Commissionand is issued by Invesco Asset Management Asia Limited (景順投資管理亞洲有限公司)(from 16 January 2020, Invesco Hong Kong Limited (景順投資管理有限公司)). ©2020 Morningstar, Inc. Allrights 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 provided for reference purposes only.Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Asset allocation data is derived by Morningstar using full holdings dataprovided by Invesco. Morningstar Licensed Tools and Content powered by Interactive Data Managed Solutions.All data is as of the date of this document and sourced from Invesco unless otherwise stated.Portfolio weightings and allocations are subject to change. The weightings for each breakdown are rounded to the nearest tenth or hundredth of a percent; therefore, the aggregate weights for eachbreakdown may not equal 100%.*Source: Data as of the date of this document. Performance of the share class(es) and Morningstar rating are sourced from ©2020 Morningstar. Index performance is sourced from Invesco. Morningstarrating (if applicable) is given to the share class as shown in the Indexed performance chart. Performance of the share class(es) is calculated based on NAV to NAV, gross income re-invested in share classcurrency.
Important Information
- The Fund invests in a diversified portfolio of equities of companies with their registered office in a European country or exercising their business activities predominantly in European countries which are listed onrecognized European stock exchanges.
- Investors should note the risk of Eurozone crisis, concentration risk of investing in European companies, volatility risk, currency exchange risk, equities risk, and general investment risk.- Financial derivative instruments (FDI) may be used for efficient portfolio management purposes or to hedge or reduce the overall risk of investments. Risks associated with FDI include counterparty/credit risk, liquidityrisk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a FDI can result in a loss significantly greater than the amount invested in the FDI by the Fund. Exposure to FDImay lead to a high risk of significant loss by the Fund.
- For certain share class(es), the Fund may at discretion pay dividend out of the capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capitalgains attributable to that original investment. Any such distributions may result in an immediate reduction of the net asset value per share in respect of such share class after the monthly distribution date. (Note 1)
- In addition, investors of Monthly Distribution-1 share class that are currency hedged (MD-1 hedged) should be aware of the uncertainty of relative interest rates. The net asset value of the MD-1 hedged may fluctuateand may significantly differ from other share class due to fluctuation of the interest rate differential between the currency in which the MD-1 hedged is denominated and the base currency of the Fund and may result ina greater erosion of capital than other non-hedged share class. (Note 2)
- The value of the Fund can be volatile and could go down substantially.- Investors should not base their investment decision on this material alone.
Objectives and investment strategy
The objective of the Fund is to achieve long-term capital appreciation by investing at leasttwo thirds of the net asset value of the Fund in a diversified portfolio of equities ofcompanies with their registered office in a European country or exercising their businessactivities predominantly in European countries which are listed on recognised Europeanstock exchanges.
Key facts
Fund manager Michael Fraikin, Thorsten PaarmannShare class launch dateA (EUR)-Acc Shares 6/11/00Legal Status Luxembourg SICAV with UCITS statusShare class currency EURFund Size EUR 2.22 bnInitial Charge (up to) 5.00%Annual Management Fee 1.3%Reference Benchmark MSCI Europe-ND
References IVRSCode
Bloomberg code ISIN code
A(AUD Hgd)-Acc Shares 388 IPEAAAU LX LU1297947985A(USD Hgd)-Acc Shares 382 INPEAUH LX LU1075211356A(USD Hgd)-MD-1 Shares 389 IPEAMUS LX LU1297948280A(EUR)-Acc Shares 307 INVELND LX LU0119750205A(EUR)-AD Shares 381 INPESAI LX LU0482499141
3 year characteristics*A (EUR)-Acc Shares
Volatility 15.39Peer Group Volatility 16.44Volatility is measured by the standard deviation of the fund, based on its annual rates ofreturn over the past 3 years in base currency of the fund. Peer Group Volatility refers tothe volatility of the offshore and international funds which are categorized under EuropeLarge-Cap Blend Equity Sector by Morningstar.
Indexed performance*
Invesco Pan European Structured Equity Fund (A (EUR)-Acc Shares) Benchmark
05/15 05/16 05/17 05/18 05/19 05/2070
80
90
100
110
120
Cumulative performance*% YTD 1 year 3 years 5 yearsA (AUD Hgd)-Acc Shares -17.05 -7.58 -8.08 -A (USD Hgd)-Acc Shares -15.64 -5.31 -5.02 0.49A (USD Hgd)-MD-1 Shares -15.66 -5.38 -5.08 -A (EUR)-Acc Shares -16.16 -7.36 -11.31 -6.90A (EUR)-AD Shares -16.14 -7.31 -11.29 -6.90Benchmark -15.43 -4.24 -3.93 -1.31
Calendar year performance*2015 2016 2017 2018 2019-0.90 -0.81 14.65 -11.18 21.8814.06 -1.45 14.24 -10.73 23.35-1.30 -1.46 14.23 -10.83 23.4315.19 -2.23 12.49 -12.97 19.9215.25 -2.28 12.51 -13.02 19.968.22 2.58 10.24 -10.57 26.05
The launch date of A (AUD Hgd)-Acc Shares and A (USD Hgd)-MD- 1 Shares classes is 11/11/2015. The calendar year performanceof the launch year of the above share class(es) only represent performance from launch date of the relevant share class(es) to the lastday of that year, which is not a full year return.
Distribution information(Aims to pay dividend on monthly/quarterly/semi-annual/ annual basis. Dividend is not guaranteed; For MD-1 shares, dividend may bepaid out of capital. (Please refer to Note 1 and/or Note 2 of the "Important information")
Intendedfrequency Record date Amount/Share Annualized
dividend (%)A (USD Hgd)-MD-1 Shares Monthly 29/05/20 0.0530 8.04%A (EUR)-AD Shares Annual 28/02/20 0.2368 1.44%Annualized dividend (%) = (Amount/Share X Frequency) ÷ Price on record date. Upon dividend distribution, the Fund's net asset valuemay fall on the ex-dividend date. For Frequency, Monthly = 12; Quarterly = 4; Semi-Annually = 2; Annually =1. All distributions belowUSD 50 in value (or its equivalent) will be automatically applied in the purchase of further shares of the same class. Positivedistribution yield does not imply a positive return.
Holding (total holdings: 113)
Top 10 holdings %
Euro Stoxx 50 Future Jun 20 20 1.7Pandora 1.5H&M 1.5Hermes 1.5Endesa 1.5Atlas Copco 'A' 1.5Iberdrola 1.5Sonova 1.5Muenchener Rueckversicherungs 1.4Enel 1.4
Geographical weightings %
Switzerland 19.2United Kingdom 11.9Sweden 10.8Netherlands 8.1France 7.0Germany 6.8Denmark 6.6Italy 6.1Others 18.6Cash 4.9
Sector weightings %
Consumer Staples 22.6Health Care 19.0Communication Services 11.2Industrials 8.6Materials 8.2Consumer Discretionary 7.2Utilities 6.8Financials 5.6Others 6.0Cash 4.9
1
FOR THE ATTENTION OF HONG KONG INVESTORS
This statement provides you with key information about this product. This statement is a part of the Prospectus and should be read in conjunction
with the Prospectus. You should not invest in this product based on this statement alone.
Quick Facts
Fund Manager/ Management Company: Invesco Management S.A.
Investment Manager(s): Invesco Asset Management Deutschland GmbH, located in Germany. (Internal delegation)
Base Currency: Euro
Custodian (Depositary): The Bank of New York Mellon SA/NV, Luxembourg Branch
Dealing Frequency : Daily
Financial Year End: The last day of February
Ongoing charges over a year:
Class A (AUD hedged) accumulation – AUD Class A (USD hedged) accumulation – USD Class A (USD hedged) monthly distribution-1 – USD Class A accumulation – EUR Class A annual distribution – EUR Class B accumulation – EUR Class C accumulation – EUR
1.57%+ 1.57%+ 1.57%+ 1.57%+ 1.57%+ 2.57%+ 1.07%+
+ The ongoing charges figure is calculated based on annualised expenses for the period ending 31 August 2018 divided by the average net assets over the same period. This figure may vary from year to year. It excludes portfolio transaction costs.
Dividend Policy: Net Income distribution (Dividends, if any, will be paid to investors) Accumulation (Dividends, if any, will be re-invested into the Fund) Monthly Distribution-1 (Dividends, if any, will be paid to investors monthly. The SICAV may, at its discretion, pay (a) a portion of dividends out of gross income, (b) a portion of dividends out of capital, and (c) with respect to hedged Monthly Distribution-1 Share classes (if applicable), the interest rate differential between the currency in which the share class is denominated and the base currency of the Fund. The Fund may pay dividends out of capital and/or effectively out of capital and may reduce the net asset value per share of this share class immediately after the monthly distribution date)
Minimum Investment/ Minimum Subscription Amount: Share class A B C Initial (in any of the USD1,500 USD1,500 USD1,000,000 dealing currencies EUR1,000 EUR1,000 EUR800,000 listed in the GBP1,000 GBP1,000 GBP600,000 Application Form) HKD10,000 HKD10,000 HKD8,000,000
JPY120,000 JPY120,000 JPY80,000,000 AUD1,500 AUD1,500 AUD1,000,000 CAD1,500 CAD1,500 CAD1,000,000
NZD2,000 NZD2,000 NZD1,200,000 Additional - - -
PRODUCT KEY FACTSInvesco Pan European Structured Equity Fund
A sub-fund of Invesco Funds (SICAV)
Issuer: Until 15 January 2020, Invesco Asset Management Asia Limited 20 December 2019 From 16 January 2020, Invesco Hong Kong Limited
Invesco Pan European Structured Equity Fund
2
What is this product? Invesco Pan European Structured Equity Fund (the “Fund”) is a fund constituted in the form of a mutual fund. It is domiciled in Luxembourg and its home regulator is the CSSF, Luxembourg supervisory authority.
Objectives and Investment Strategy
The objective of the Fund is to achieve long-term capital appreciation by investing at least two thirds of the net asset value of the Fund in a diversified portfolio of equities of companies with their registered office in a European country or exercising their business activities predominantly in European countries which are listed on recognised European stock exchanges. The stock selection follows a highly structured and clearly defined investment process. Quantitative indicators that are available for each stock in the investment universe are analysed and used by the Investment Manager to evaluate the relative attractiveness of each stock. The portfolio is constructed using an optimisation process that takes into account the calculated expected returns of each stock as well as risk control parameters.
Up to one third of the net asset value of the Fund may be invested in aggregate in cash and cash equivalents, money market instruments or equity and equity related instruments issued by companies or other entities not meeting the above requirement.
Not more than 10% of the net asset value of the Fund may be invested in securities issued by or guaranteed by a country which is unrated (debt securities which are not rated by any international rating agency such as Moody’s, Standard & Poor’s and Fitch) and/or whose credit rating is below investment grade (below investment grade is defined as credit rating that is below BBB- from Standard & Poor’s and Fitch, or below Baa3 from Moody’s or an equivalent rating from an internationally recognized rating agency).
The Fund may use derivatives (including but not limited to futures, forwards, non-deliverable forwards, swaps and complex options structures) for hedging and efficient portfolio management purposes. Such derivatives may also incorporate derivatives on derivatives (i.e. forward dated swaps, swap options). However, financial derivative instruments will not be extensively used for investment purposes (i.e. entering into financial derivative instruments to achieve the investment objectives).
Use of derivatives / investment in derivatives The Fund’s net derivative exposure1 may be up to 50% of the Fund’s net asset value.
What are the key risks? Investment involves risks. Please refer to the Prospectus for details including the risks factors.
General investment risk - There can be no assurance that the Fund will achieve its investment objective. The instruments invested by the Fund may fall in value due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. There is no guarantee of the repayment of principal.
Currency exchange risk
- The Fund’s assets may be invested in securities denominated in currencies other than the base currency of the Fund. Also, a class of shares may be designated in a currency other than the base currency of the Fund. The net asset value of the Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
- For the hedged share classes, there is no guarantee that the exposure of the currency in which the shares are denominated can be fully hedged at all times against the base currency of the Fund or the currency or currencies in which the assets of the Fund are denominated. Investors should also note that the successful implementation of the strategy may substantially reduce the benefit to shareholders in the relevant class of shares as a result of decreases in the value of the share class currency against the base currency of the Fund. In the event that investors request payment of redemption proceeds in a currency other than the currency in which the shares are denominated, the exposure of that currency to the currency in which the shares are denominated will not be hedged.
Volatility risk - Investors should note that volatility in the Fund's investment portfolio may result in large fluctuations in the net asset value of the Fund which may adversely affect the net asset value per share of the Fund and investors may as a result suffer losses.
1 Please refer to the offering document for details regarding the calculation methodology of net derivative exposure.
Invesco Pan European Structured Equity Fund
3
Equities risk - The value of, and income derived from, equity securities held may fall as well as rise and the Fund may not recoup the original amount invested in such securities. The prices of and the income generated by equity securities may decline in response to certain events, including the activities and results of the issuer, general political, economic and market conditions, regional or global economic instability and currency and interest rate fluctuations. Thus, this may adversely impact the Fund and/or the interests of investors.
Concentration risk - As the Fund will invest primarily in equities of companies with their registered office in a European country or exercising their business activities predominantly in European countries which are listed on recognised European stock exchanges, such concentration may exhibit a higher than usual degree of risk and the Fund may be subject to above average volatility. The diversification benefits that would ordinarily accrue from investment in a fund having a more diverse portfolio of investments, may not apply to this Fund.
Risk of Eurozone crisis - The Fund may have significant investment exposure to the Eurozone or the Euro. In light of ongoing concerns on the sovereign debt risk of certain countries within the Eurozone, the Fund’s investments in the region may be subject to higher volatility, liquidity, currency and default risks. Any adverse events, such as credit downgrade of a sovereign or exit of EU members from the Eurozone or other adverse economic, political, policy, foreign exchange, tax, legal or regulatory event affecting the Eurozone markets, may have a negative impact on the value of the Fund.
Risk of investing in financial derivative instruments ("FDI") for efficient portfolio management and hedging purposes - Investments of the Fund may be composed of FDI used for efficient portfolio management or to attempt to hedge or reduce the overall risk of its investments. Risks associated with FDI include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a FDI can result in a loss significantly greater than the amount invested in the FDI by the Fund. Exposure to FDI may lead to a high risk of significant loss by the Fund.
Risks associated with payment of dividends and/or fees and expenses out of capital
- Payment of dividends out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the net asset value per share in respect of such share class after the monthly distribution date.
- For Monthly Distribution-1 share classes that are currency hedged, the Fund may take into account the return driven by the interest rate differential between the currency in which the hedged Monthly Distribution-1 share class is denominated and the base currency of the Fund in determining the distribution to be paid. Investors should be aware that the uncertainty of relative interest rates which will have an impact on the return of the hedged Monthly Distribution–1 share class. The net asset value of the Monthly Distribution-1 hedged share class may fluctuate and may significantly differ from other share class due to the fluctuation of the interest rate differential between the currency in which the hedged Monthly Distribution-1 share class is denominated and the base currency of the Fund, and may result in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-hedged share class. Investors in such share class may therefore be adversely affected.
How has the Fund performed?
The Fund Manager views Class A accumulation - EUR (the “Share Class”), being the focus share class of the Fund available to the public of Hong Kong, as the most appropriate representative unit class.
Fund launch date: 06 November 2000. Share Class launch date: 06 November 2000. The base currency of the Fund is EUR. Past performance of the Share Class is calculated in EUR. Performance is calculated after deduction of ongoing charges
and is inclusive of gross income reinvested. Any entry/exit charges shown are excluded from the calculation.
Past performance is not a guide to future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the
calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the Share Class increased or
decreased in value during the calendar year being shown. Where no past performance is shown, there was insufficient data
available in that year to provide performance.
Invesco Pan European Structured Equity Fund
4
Is there any guarantee? The Fund does not have any guarantees. You may not get back the full amount of money you invest.
What are the fees and charges? Charges which may be payable by you
You may have to pay the following fees when dealing in the shares of the Fund.
Fee What you pay
Subscription fee/ Initial charge
Class A: Not exceeding 5.00% of the gross investment amount. Class B: N/A Class C: Not exceeding 5.00% of the gross investment amount.
Switching fee Up to 1.00% of the value of the shares being switched.
Redemption fee N/A
Contingent Deferred Sales Redemption during Applicable rate Charge (“CDSC”) (during X years since purchase) of CDSC (Class B only) 1st Year 4% 2nd Year 3% 3rd Year 2% 4th Year 1% After end of 4th Year None
The CDSC will be calculated by reference to the lesser of (i) the current market value (based on the net asset value per share ruling on the date of redemption); or (ii) the acquisition cost of the Class B shares being redeemed.
Ongoing fees payable by the Fund
The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments.
Annual rate (as a % of the Fund’s value)
Management fee* Class A: 1.30% Class B: 1.30% Class C: 0.80%
Custodian fee/ Depositary charge
Up to 0.0075%
Performance fee N/A
Administration fee N/A
Distribution fee Class A: N/A Class B: Up to 1.00% Class C: N/A
Service agents fee Class A: Up to 0.40% Class B: Up to 0.30% Class C: Up to 0.30%
* The fees can be increased subject to the prior approval of the Securities and Futures Commission ("SFC") and by giving not less than three months’ prior notice to the investors.
Other fees
You may have to pay other fees when dealing in the shares of the Fund.
Invesco Pan European Structured Equity Fund
5
Additional Information The compositions of the dividends (i.e. the relative amounts paid out of (i) net distributable income and (ii) capital)
for the last 12 months are available from the Hong Kong Sub-Distributor and Representative on request and at www.invesco.com.hk. This website has not been reviewed by the SFC.
You generally buy and redeem shares at the Fund’s next-determined net asset value after the Hong Kong Sub-Distributor and Representative receives your request in good order on or before 5:00pm, Hong Kong time, being the Fund’s dealing cut-off time. Before placing your subscription or redemption orders, please check with your distributor for the distributor’s internal cut-off time (which may be earlier than the Fund’s dealing cut-off time).
The net asset value of the Fund is calculated each “Business Day” as defined in the Prospectus and the price of shares is published each Hong Kong business day (i.e. a day on which banks in Hong Kong are open for normal banking business) at www.invesco.com.hk. This website has not been reviewed by the SFC.
Investors may obtain the past performance information of other share classes offered to Hong Kong investors at www.invesco.com.hk. This website has not been reviewed by the SFC.
Investors may obtain other information of this product at www.invesco.com.hk. This website has not been reviewed by the SFC.
Important If you are in doubt, you should seek professional advice.
The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.
景順歐洲指標增值基金2020年 5月 31日
Morningstar星號評級TM*
AAAA
景順基金熱線：(852) 3191 8282 景順分銷代理熱線：(852) 3191 8000 傳真：(852) 3128 6500 電子郵件：[email protected] 網址 : www.invesco.com.hk
重要提示
20
20
03
(AP
31
1)
銷售文件詳情
產品資料概要
投資表現以歐元計算。以美元或港元作出投資的投資者，需承受兌換匯率的波動風險。投資附帶風險。過往業績並不表示將來會有類似業績。投資者應細閱有關基金章程，並參閱有關產品特性及其風險因素。此文件未經證券及期貨事務監察委員會審閱，並由景順投資管理亞洲有限公司(Invesco Asset Management Asia Limited)刊發(自2020年1月16日起，景順投資管理有限公司(Invesco Hong Kong Limited))。©2020 版權為 Morningstar Inc. 所有。本報告所包含的資料：(一) 屬於 Morningstar及其資料提供商的專利； (二) 不可複印或分發及 (三) 僅作參考用途。Morningstar及其資料來源提供商不會就使用本報告而引起的任何賠償或損失承擔責任。資產配置相關數據是 Morningstar參考景順 (Invesco) 所提供的基金之所有持股資料作計算。Morningstar之特許工具和內容是由交互式數據管理方案作支援。除另有說明外，所有數據均截至本文件之日期及由景順提供。投資組合比重與分佈將不時變動。各項投資分佈數據的總和可因小數進位情況而不相等於100。*資料來源：所有數據均截至本文件之日期。股份類別表現及Morningstar星號評級資料來自©2020 Morningstar。 參考指數表現來自景順。Morningstar星號評級 (如有) 是指基金表現圖表所示的股份類別。股份類別投資表現以資產淨值對資產淨值以股份類別貨幣計算，其股息作滾存投資。
重要提示
- 本基金投資於一項多元化的公司股票投資組合；該等公司的註冊辦事處設於歐洲國家或其絕大部份業務在歐洲國家經營並在認可歐洲證券交易所上市。- 投資者務請留意歐元區危機風險, 投資於歐洲國家公司的集中風險, 波動風險, 貨幣匯兌風險, 股票風險, 一般投資風險。- 本基金可為有效率投資組合管理及對沖目的而投資金融衍生工具。與金融衍生工具相關的風險包括交易對手／信用風險、流通性風險、估值風險、波動風險及場外交易風險。金融衍生工具的槓桿元素／成份
可導致損失顯著高於本基金投資於金融衍生工具的金額。涉足金融衍生工具或會導致本基金須承擔蒙受重大損失的高度風險。- 就若干股份類別而言，本基金可酌情從資本及／或實際上從資本撥付股息即屬自投資者的原有投資或自該筆原有投資應佔任何資本增值作部份退回或提款。任何有關分派或會令該類股份的每股資產淨值於每
月派息日期後即時下降。(註一)- 再者，貨幣對沖每月派息－1股份類別(每月派息－1對沖)的投資者需注意相對利率的不明朗因素。由於每月派息－1對沖股份類別計價貨幣與本基金基本貨幣間的利率差距波動，故與其他股份類別相比，每
月派息－1對沖股份類別的資產淨值或會波動，亦有可能顯著不同，與其他非對沖股份類別相比的資本蠶食可能會更嚴重。(註二)- 本基金價值可以波動不定，並有可能大幅下跌。- 投資者不應單憑本文件而作出投資決定。
投資目標及政策概要
本基金的目標，是透過將本基金最少三分之二的資產淨值投資於一項多元化的公司股票投資組合，以達致長期資本增值；該等公司的註冊辦事處設於歐洲國家或其絕大部份業務在歐洲國家經營並在認可歐洲證券交易所上市。
基金基本資料
基金經理 Michael Fraikin, Thorsten Paarmann
股份類別推出日期
A(歐元)累積股份 6/11/00
法律地位 盧森堡SICAV，UCITS地位
股份類別貨幣 歐元
基金總值 歐元 2.22 十億
首次認購費(最高) 5.00%
每年管理費 1.3%
參考指數 MSCI Europe-ND
參考 互動語音系統代碼
彭博代碼 ISIN代碼
A(澳元對沖)累積股份 388 IPEAAAU LX LU1297947985
A(美元對沖)累積股份 382 INPEAUH LX LU1075211356
A(美元對沖)每月派息-1股份 389 IPEAMUS LX LU1297948280
A(歐元)累積股份 307 INVELND LX LU0119750205
A(歐元)每年派息股份 381 INPESAI LX LU0482499141
基金特點(三年)*A(歐元)累積股份
波幅 15.39
組別波幅 16.44
波幅是根據基金在過去3年的每年回報以標準誤差及基金之基本貨幣計算。組別波幅指由Morningstar所訂定為歐洲大型均衡型股票組別之離岸及國際基金的波幅。
基金表現*
景順歐洲指標增值基金 (A(歐元)累積股份) 參考指數
05/15 05/16 05/17 05/18 05/19 05/2070
80
90
100
110
120
累積表現*
% 年初至今 1年 3年 5年
A(澳元對沖)累積股份 -17.05 -7.58 -8.08 -
A(美元對沖)累積股份 -15.64 -5.31 -5.02 0.49
A(美元對沖)每月派息-1股份 -15.66 -5.38 -5.08 -
A(歐元)累積股份 -16.16 -7.36 -11.31 -6.90
A(歐元)每年派息股份 -16.14 -7.31 -11.29 -6.90
參考指數 -15.43 -4.24 -3.93 -1.31
年度表現*
2015 2016 2017 2018 2019
-0.90 -0.81 14.65 -11.18 21.88
14.06 -1.45 14.24 -10.73 23.35
-1.30 -1.46 14.23 -10.83 23.43
15.19 -2.23 12.49 -12.97 19.92
15.25 -2.28 12.51 -13.02 19.96
8.22 2.58 10.24 -10.57 26.05
A（澳元對沖）累積股份及A(美元對沖)每月派息-1 股份類別之成立日期為2015年11月11日。上述股份類別成立年度之年度表現僅代表有關股份類別的成立日至該年度最後一日之表現，並不代表整年回報。
派息資料(旨在每月/季/半年/年派息，派息並不保證。每月派息- 1 股份之派息可從股本中分派。(請注意「重要提示」註一及/或註二))
擬分配頻率 記錄日 每股派息 年息率 (%)
A(美元對沖)每月派息-1股份 每月 29/05/20 0.0530 8.04%
A(歐元)每年派息股份 每年 28/02/20 0.2368 1.44%
年息率(%) = ( 每股派息X 頻率) ÷ 紀錄日單位淨值。基金資產淨值於股息派發之除淨日或會下跌。有關頻率為：每月= 12；每季= 4；每半年=2；每年=1。所有價值不足50美元（或其等值）的股息，均會自動用於增購同類股份。正派息率並不意味著正回報。
持有投資 (總持量: 113)
持量最多之十項投資 %
Euro Stoxx 50 Future Jun 20 20 1.7
Pandora 1.5
H&M 1.5
Hermes 1.5
Endesa 1.5
Atlas Copco 'A' 1.5
Iberdrola 1.5
Sonova 1.5
Muenchener Rueckversicherungs 1.4
Enel 1.4
地區分佈 %
瑞士 19.2
英國 11.9
瑞典 10.8
荷蘭 8.1
法國 7.0
德國 6.8
丹麥 6.6
意大利 6.1
其他 18.6
現金 4.9
行業分佈 %
消費必需品 22.6
健康護理 19.0
通訊服務 11.2
工業 8.6
原材料 8.2
副消費品 7.2
公用事業 6.8
金融 5.6
其他 6.0
現金 4.9
1
香港投資者注意
本概要提供有關本產品的重要資料。 本概要為章程的一部份，並應與章程一併閱讀。
請勿單憑本概要而投資於本產品。
資料一覽
基金經理／管理公司: Invesco Management S.A.
投資經理: 設於德國的 Invesco Asset Management Deutschland GmbH（內部委任）
基本貨幣: 歐元
保管人（存管機構）: The Bank of New York Mellon SA/NV, Luxembourg Branch
交易頻密程度: 每日
財政年度終結日: 2 月最後一天
全年持續收費： A（澳元對沖）累積－澳元類別 A（美元對沖）累積－美元類別 A（美元對沖）每月派息－1－美元類別 A（累積－歐元）類別 A（每年派息－歐元）類別 B（累積－歐元）類別 C（累積－歐元）類別
1.57%+ 1.57%+ 1.57%+ 1.57%+ 1.57%+ 2.57%+ 1.07%+
+ 持續收費數據乃根據截至 2018 年 8 月 31 日止期間年率化費用除以同期平均資產淨值計算。該數據可能每年作出調整，並不包括組合交易費用。
股息政策: 淨收入分派（股息（如有）將會向投資者派付） 累積（股息（如有）將會再投資於本基金） 每月派息－1（股息（如有）將會每月向投資者派付。SICAV 可酌情(a)從總收入撥付部份股息，(b)從資本撥付部份股息，及(c)就對沖每月派息－1 股份類別而言（如適用），派付股份類別計價貨幣與本基金基本貨幣間的利率差距。本基金或會從資本及／或實際上從資本撥付股息，或會令此類股份的每股資產淨值於每月派息日期後即時下降）
最低投資額／最低認購額： 股份類別 A B C 首次（申請表格所列 1,500 美元 1,500 美元 1,000,000 美元 任何交易貨幣） 1,000 歐元 1,000 歐元 800,000 歐元 1,000 英鎊 1,000 英鎊 600,000 英鎊 10,000 港元 10,000 港元 8,000,000 港元
120,000 日圓 120,000 日圓 80,000,000 日圓 1,500 澳元 1,500 澳元 1,000,000 澳元 1,500 加元 1,500 加元 1,000,000 加元
2,000 紐元 2,000 紐元 1,200,000 紐元 其後 - - -
本基金是什麼產品？ 景順歐洲指標增值基金 （「本基金」）乃以互惠基金形式組成的基金，於盧森堡註冊，受盧森堡監管當局 CSSF 監管。
產品資料概要景順歐洲指標增值基金
景順盧森堡基金系列(SICAV)附屬基金 發行機構： 直至 2020 年 1 月 15 日，景順投資管理亞洲有限公司 自 2020 年 1 月 16 日起，景順投資管理有限公司 2019 年 12 月 20 日
景順歐洲指標增值基金
2
目標及投資策略
本基金的目標，是透過將本基金最少三分之二的資產淨值投資於一項多元化的公司股票投資組合，以達致長期資本增值；該等公司的註冊辦事處設於歐洲國家或其絕大部份業務在歐洲國家經營並在認可歐洲證券交易所上市。本基金乃遵循結構嚴謹、目標明確的投資過程來選擇股份。投資經理會分析和運用投資範疇內每隻股份的各種數量指標，以評估每隻股份的相對吸引力。本基金乃運用顧及每隻股份的計算預期回報和風險控制參數的優化程序來建立投資組合。
本基金可將合共不超過三分之一的資產淨值投資於現金與等同現金、貨幣市場工具或任何不符合上述規定的公司或其他實體所發行的股票及股票相關工具。
本基金可將不超過10%的資產淨值投資於未評級（未經任何國際評級機構（例如穆迪、標準普爾及惠譽）評級的債務證券）及／或信用評級未達投資級別（未達投資級別的定義為標準普爾及惠譽給予BBB-以下，或穆迪給予Baa3以下的信貸評級，或由國際認可評級機構給予同等評級）的國家所發行或擔保的證券。
本基金可為對沖及有效率投資組合管理目的而運用衍生工具，包括（但不限於）期貨、遠期合約、不交收遠期合約、互換及複雜期權結構工具。該等衍生工具並可就衍生工具再訂立衍生工具（即遠期互換、互換期權）。然而，本基金不會為投資目的而廣泛運用金融衍生工具（即訂立金融衍生工具以達致投資目標）。
衍生工具的運用／投資
基金的衍生工具風險承擔淨額1最多可佔該基金資產淨值的 50%。
有哪些主要風險？ 投資涉及風險。請參閱章程以瞭解詳情（包括風險因素）。
一般投資風險 - 本基金不能保證可達致其投資目標。本基金所投資的工具的價值或會因下文任何主要風險因素而下跌，因此閣下於本基金的投資可能蒙受損失。本基金不保證能夠退還本金。
貨幣匯兌風險
- 本基金的資產可能投資於並非以本基金基本貨幣計價的證券。此外，股份類別的指定貨幣未必為本基金基本貨幣。本基金的資產淨值可能因該等貨幣與基本貨幣之間的匯率波動或匯率管制變動而受到不利影響。
- 就對沖股份類別而言，有關方面並不保證股份計價貨幣的風險承擔能夠一直與本基金的基本貨幣或本基金資產計價的一種或多種貨幣完全對沖。投資者並請注意，倘若該策略成功實施，有關類別股份股東所獲得的利益或會因股份類別貨幣兌本基金基本貨幣的價值下降而大大減少。若投資者要求支付贖回款項的貨幣並非股份計價貨幣，則該種貨幣兌股份計價貨幣的風險承擔將不獲對沖。
波動風險 - 投資者請注意，本基金投資組合的波動或會導致本基金的資產淨值大幅波動，可能對本基金的每股資產淨值構成不利影響，投資者或會因而蒙受損失。
股票風險 - 所持股本證券的價值及所得收入均可升可跌，本基金未必可收回最初投入該等證券的款額。股本證券的價格及所賺取收入或會因為若干事件（包括發行機構的業務和業績、一般政治、經濟及市場狀況、區域或全球經濟動盪以及匯率及利率波動）而下跌。因此，本基金及／或投資者利益或會因而蒙受不利影響。
集中風險 - 由於本基金將主要投資於註冊辦事處設於歐洲國家或其絕大部份業務在歐洲國家經營並在認可歐洲證券交易所上市的公司股票，該種集中情況可能涉及較一般為高的風險程度，故本基金或會出現高於平均的波幅。投資於具備較廣泛投資組合的基金通常可獲享的分散風險利益或不適用於本基金。
歐元區危機風險 - 本基金或會在歐元區或歐元方面存在重大投資風險承擔。鑑於歐元區若干國家持續存在主權債務風險隱憂，本基金在區內的投資或會面對較高的波動、流通性、貨幣及違約風險。一旦出現任何不利事態（例如主權信用評級下調或歐盟成員國退出歐元區或影響歐元區市場的其他不利的經濟、政治、政策、外匯、稅務、法律或監管事件），或會對本基金的價值造成負面影響。
為有效率投資組合管理及對沖目的而投資金融衍生工具的風險 - 本基金的投資項目可包含為達致有效率投資組合管理或意圖對沖或減輕其投資的整體風險而運用的金融衍生工具。與金融衍生工具相關的風險包括交易對手／信用風險、流通性風險、估值風險、波動風險及場外交易風險。金融衍生工具的槓桿元素／成份可導致損失顯著高於本基金投資於金融衍生工具的金額。涉足金融衍生工具或會導致本基金須承擔蒙受重大損失的高度風險。
從資本撥付股息及／或費用及開支的相關風險
- 從資本及／或實際上從資本撥付股息即屬自投資者的原有投資或自該筆原有投資應佔任何資本增值作部份退回或提款。任何有關分派或會令該類股份的每股資產淨值於每月派息日期後即時下降。
- 就貨幣對沖每月派息 － 1 股份類別而言，在釐定將予支付的分派時，本基金或會考慮對沖每月派息 － 1 股份類別計價貨幣與本基金基本貨幣間的利率差距所帶來的回報。投資者應留意相對利率的不明朗因素，這將影響
1 有關衍生工具風險承擔淨額計算方法的詳情，請參閱發售文件。
景順歐洲指標增值基金
3
對沖每月派息－ 1 股份類別的回報 。由於對沖每月派息 － 1 股份類別計價貨幣與本基金基本貨幣間的利率差距波動， 故與其他股份類別相比， 每月派息－ 1 對沖股份類別的資產淨值或會波動，亦有可能顯著不同 ，或會導致從資本撥付的派息金額有所增加 ，因而與其他非對沖股份類別相比的資本蠶食會更嚴重。該股份類別的投資者或會因而受到不利影響。
本基金表現如何？
基金經理認為A（累積－歐元）類別（「股份類別」），作為本基金提供予香港公眾的焦點基金類別，為最合適的代表單位類別。
基金成立日期：2000年11月6日。 股份類別成立日期：2000年11月6日。 本基金的基本貨幣為歐元。 股份類別過往表現的數據以歐元計算。 表現數據計算時已扣除持續收費，並包括總收入再投資。計算
時並無包括所顯示的任何認購費／贖回費。 過往表現並不預視未來表現。 投資者未必可取回全數投資金額。 表現的計算以每個曆年年底的資產淨值為準（當中包括股息再
投資）。 左圖的數字顯示股份類別的價值於所示曆年的升幅或跌幅。 如未有顯示某年度的表現，即該年度未有足夠數據計算表現。
是否有任何保證？ 本基金並無任何保證。閣下未必可取回全部投資金額。
投資本基金涉及哪些費用及收費？ 閣下或須繳付的收費 閣下買賣本基金股份時或須繳付以下費用。 費用 金額
認購費／首次認購費
A 類：不超過投資總額的 5.00%。 B 類：不適用 C 類：不超過投資總額的 5.00%。
轉換費 最多為轉換股份價值的 1.00%。
贖回費 不適用
或有遞延銷售費用 贖回期間 適用或有遞延銷售 （只限 B 類股份） （自購入起計第 x 年） 費用比率 第一年 4% 第二年 3% 第三年 2% 第四年 1% 第四年完結後 無
或有遞延銷售費用將按(i)現行市值（按贖回當日的每股資產淨值計算）；或(ii)擬贖回 B 類股份的購入成本兩者中的較低款額計算。
景順歐洲指標增值基金
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本基金持續繳付的費用 以下開支將從本基金中扣除，閣下的投資回報將會因而減少。 每年收費率（佔本基金價值百分比）
管理費* A 類：1.30% B 類：1.30% C 類：0.80%
保管費／存管機構費用 最多為 0.0075%
業績表現費 不適用
行政費 不適用
分銷費 A 類：不適用 B 類：最多為 1.00% C 類：不適用
服務代理人費用 A 類：最多為 0.40% B 類：最多為 0.30% C 類：最多為 0.30%
* 該項收費可被調高，惟須經證券及期貨事務監察委員會 （「 證監會 」） 事先批准， 並向投資者事先發出不少於三個月的通知 。
其他費用 閣下買賣本基金股份時或須繳付其他費用。
其他資料 過去 12 個月股息的成份（即從(i)可分派收入淨額，及(ii)資本撥付的相對款額）可向香港分經銷商兼代表查詢，並
載於 www.invesco.com.hk。此網站未經證監會審閱。 經香港分經銷商兼代表於香港時間下午五時（即本基金的交易截算時間）或之前收到閣下完備的認購及贖回要求
後，閣下一般按本基金下一次釐定的資產淨值購買及贖回股份。提交認購或贖回指令前，請向閣下的經銷商查詢其內部截算時間（或會較本基金的交易截算時間為早）。
本基金於每個「營業日」（定義見章程）計算資產淨值，並於每個香港營業日（即香港銀行開門經營一般銀行業務的日子）在 www.invesco.com.hk 刊載股份價格。此網站未經證監會審閱。
投資者可於 www.invesco.com.hk 取得其他向香港投資者提呈發售的股份類別的過往表現數據。此網站未經證監會審閱。
投資者可於 www.invesco.com.hk 取得有關本產品的其他資料。此網站未經證監會審閱。
重要提示 閣下如有任何疑問，應徵詢專業意見。
證監會對本概要的內容並不承擔任何責任，對其準確性或完整性亦不作出任何陳述。
