Portfolio Management

Invesco National Trust Company serves as fund trustee and investment manager and has retained State Street Global Advisors ("SSgA") as Sub-advisor and portfolio manager for the Invesco 500 Index Trust.

State Street Global Advisors (SSgA)

SSgA is the investment management division of State Street Bank and Trust Company, and a global leader in providing investment management services to clients worldwide.

Investment Philosophy

SSgA believes that clients choose indexing for three main reasons. First, they want to gain broad-based market exposure. Second, they want predicable variance around a given benchmark. And third, they want this exposure at a low cost. SSgA’s philosophy is to manage every index portfolio in a manner that seeks to ensure that all three objectives are met throughout the investment process - from the initial contribution to the ongoing management of the assets. SSgA continually assesses the tradeoffs between transaction costs and tracking error.

Investment Process

The strategy is managed using a "passive" or "indexing" investment approach, by which SSgA attempts to match, before expenses, the performance of the Index. SSgA will typically attempt to invest in the securities comprising the Index, in the same proportions as they are represented in the Index. In some cases, it might not be possible or practicable to purchase all of the securities comprising the Index. In those circumstances, SSgA may employ a sampling or optimization technique to construct the portfolio in question.

From time to time, securities are added to or removed from the Index. SSgA may sell securities that are represented in the Index, or purchase securities that are not yet represented in the Index, in anticipation of their removal from or addition to the Index.

The Strategy may at times purchase or sell futures contracts on the Index, or options on those futures, or engage in other transactions involving the use of derivatives, in lieu of investment directly in the securities making up the Index or to enhance the Strategy's replication of the Index return.

The Strategy's return may not match the return of the Index.

Risk Management

SSgA monitors the overall risk of the strategy, in order to avoid unintended risk relative to the index. SSgA manages portfolio characteristics and expenses in a manner intended to provide a return as close as practicable to the benchmark return.