Home: Fund Overviews: Fund Overview - 06/30/2010
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Invesco Emerging Markets Equity Trust A Bank Collective Trust Fund Results as of 06/30/2010

Fund Management Fund Trustee & Investment Manager The trustee and investment manager for the Fund is Invesco National Trust Company, a limited purpose national trust bank. Fund Sub-Advisor Invesco Advisers, Inc. Portfolio Management Team Managed - Invesco Global Equity; Erik B. Granade, CFA (Lead) Investment Objective The investment objective of this Fund is to achieve a total return on investment through capital appreciation and current income by investing primarily in equity securities of emerging market or developed countries.   Investor Profile The Invesco Emerging Markets Equity Trust may be appropriate for the investor who seeks long-term capital growth and who is prepared to weather the sudden and unpredictable variations in portfolio value associated with the risks of foreign investing in emerging market countries.   Key Facts Category International/ Global Equity Type of Management Actively Managed Fund Inception Date 12/15/2004 Performance Start Date 12/31/2004 CUSIP 46X133XX8 Tax ID (EIN)/Plan # 68-6246959/001 Share Class Class C Total Net Assets ($mil) $205.55 Share Price (NAV) $20.98 Ann. Portfolio Turnover* 67.63% *As of 12/31/2009 Fund Style Emerging Markets   Performance as of 06/30/2010 QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr *Since Inception Net of Fees -10.01 -8.97 19.87 -2.38 12.40 N/A 12.72 Gross of Fees -9.76 -8.46 21.20 -1.30 13.64 N/A 13.96 MSCI Emerging Markets Free Net3 -8.37 -6.17 23.15 -2.50 12.73 N/A 12.70 *Since Inception performance is as of the first full month the fund was open. Net of fee performance has been calculated after the deduction of the standard management fee and any operating expenses applicable to the fund. Read the Important Information section for more about fund performance. Go to Monthly Fund Performance for the most recent month end performance. When evaluating whether a fund is appropriate for your investment goals, fund performance, fees and expenses are only a few of the criteria you should consider. You may also consider the investment objective and strategy to determine if the fund's objectives match your own, review the fund's portfolio composition / characteristics to determine how well the fund consistently meets its objective and review the fund's risk exposure to ensure you are comfortable with the types of risk to which the fund is subject.   Portfolio Composition 4 Asset Allocation %TNA Short Term Investments 3.29 Equity Investments 96.71 Total 100.00     Portfolio Characteristics Weighted Avg. Market Cap ($mil) $26,180.23 Median Market Cap ($mil) $7,911.83 Dividend Yield 2.51% 5 Yr EPS Growth Rate 19.47% 5 Yr Avg Return On Equity 21.68% Price to Earnings Ratio 12.01x Price to Book Ratio 1.57x Number of Holdings 43 Top Ten Equity Holdings %TNA HTC Corp. 3.93 Samsung 3.70 Hyundai Mobis 3.53 Petroleo Bras 3.41 America Movil 3.23 Standard Bank 3.18 State Bank of I 3.05 CNOOC Ltd. 2.96 Banco Santander 2.88 Powertech Tech. 2.80   Sector Allocation %TNA Short Term Investments 3.29 Financials 22.61 Energy 17.09 Consumer Discretionary 13.37 Information Technology 12.43 Materials 9.87 Telecommunication Services 9.06 Industrials 5.73 Consumer Staples 4.24 Utilities 2.31 Total 100.00 Top Countries %TNA South Korea 18.76 Brazil 16.50 China 13.27 South Africa 11.56 Taiwan 9.79 Mexico 6.39 India 4.88 Russia 3.72 Thailand 3.41 Turkey 2.38   Geographic Diversification %TNA Short Term Investments 3.29 Asia 54.31 Latin America 22.89 Europe, Middle East, Africa 19.51 Total 100.00   Word about Risk Some of the principal risks associated with investing in this Fund include: General Investment Risk - While the portfolio management team seeks to mitigate investment risks, there can be no assurance that Investors will not lose all or a portion of their investment in the Fund. Investors should not subscribe to or invest in the Fund unless they can readily bear the consequences of such loss. Emerging Markets Risk - Investing in emerging and developing markets involves greater risk than investing in more established markets, such as risks relating to the relatively smaller size and lesser liquidity of these markets, high inflation rates, adverse political developments, less stringent regulatory and accounting requirements and lack of timely information. Securities Liquidity Risk - The Fund may invest in Rule 144A Securites. These securities are not registered for resale in the general securities market and may be classified as illiquid. Therefore, the Fund is subject to the risk that these securities may not be sold at the price or within the time period deemed desirable. Risks Associated with Investing in Smaller Capitalized Issuers - Investing in a fund that invests in smaller companies involves risks not associated with investing in more established companies, such as business risk, stock price fluctuations and illiquidity. Foreign Securities Risk - Foreign securities have additional risks including exchange rate changes, political and economic upheaval, the relative lack of information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards. Foreign Exchange Risk - The fund is subject to currency/exchange rate risk, since it may buy or sell currencies or securities denominated in currencies other than the U.S. dollar. Forward Foreign Currency Contracts - The Fund may enter into contracts to purchase or sell foreign currencies at a future date (“forward contracts”) as a hedge against fluctuations in foreign exchange rates pending the settlement of transactions in foreign securities or during the time the Fund holds foreign securities. There can be no guarantee that instruments or mechanisms suitable for these hedging purposes will be available at the time the Fund desires to utilize them, or even if used, whether such instruments or mechanisms will fully hedge the intended portion of the Fund’s currency exposure. Economic and Market Risks - Changes in economic conditions, general stock market conditions, tax laws, bankruptcy laws, securities laws, and various other political, economic, and financial conditions will affect the success and profitability of the Fund. Risks Associated with Investing in an Investment Vehicle - The Fund may itself invest in an investment vehicle, such as a private investment or commingled fund. When it does so, the investing fund is subject to the underlying risk of that investment vehicle’s portfolio securities. Accounts of Affiliates of the Investment Manager - Affiliates of the Trustee or the Sub-Adviser may trade in securities at the same time as the Fund and, therefore, may potentially affect prices or available opportunities. Securities Lending Risk - The Fund or the vehicles in which it invests may participate in securities lending programs. The lending fund bears the risk of investment loss associated with any reinvestment of securities lending collateral held by the lending fund. No Registration Under the Investment Company Act, the Securities Act or State Securities Laws - The Fund will not be registered with the SEC as an investment company under the Investment Company Act of 1940 in reliance upon an exemption from the Investment Company Act. Units of the Fund will not be registered with the Securities and Exchange Commission in reliance on the exemptive provisions of Section 3(a)(2) of the Securities Act of 1933, nor will it be registered with any state securities regulator. No Registration with the CFTC - Since the Fund may purchase, sell or trade exchange-traded futures contracts, options thereon, and other Commodity Interests, the Fund may be viewed as subject to regulation as a commodity pool under the U.S. Commodity Exchange Act and the rules of the CFTC. However, pursuant to CFTC Rule 4.5, the Trustee is exempt from having to register as a commodity pool operator with respect to the Fund. For a more detailed description of these risks, please refer to the Principal Risks of Investing section of the Fund Description on www.invesconationaltrust.com.

Materials / Resources Quarterly Fund Fact Sheet Investment Strategy Principal Risks of Investing Complete Quarterly Holdings Investment Philosophy & Process Fees1 and Expenses2 Standard Management Fee 1.10% YTD Expense Ratio 0.17% Management fees vary by Plan. The standard management fee listed may be higher or lower than the actual fee negotiated by the Plan Sponsor. Contact your Plan Sponsor to obtain the actual fee negotiated for your retirement Plan. Read the Important Information section for more about management fees. 5 Year Risk Regression Standard Deviation (%)  29.36 Beta  1.03 Alpha (%)  0.72 R Squared (%)  97.54 Sharpe Ratio   0.38 Information Ratio  0.19 Tracking Error (%)  4.67 Risk regression is gross of fees. Important Information This product is a bank collective trust fund for which Invesco National Trust Company serves as trustee and investment manager. The fund is not FDIC-insured or registered with the Securities and Exchange Commission. Please see the fund's Declaration of Trust and recent financial statements (available upon request from your retirement plan sponsor) for important information before investing. Material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. This does not constitute an offer or solicitation of any security or product, nor constitute a recommendation of the suitability of any investment strategy for a particular investor. Total return assumes reinvestment of dividends and capital gains for the periods indicated. Past performance is no guarantee of future results. Net performance has been calculated after the deduction of operating expenses applicable to the fund and after the deduction of the standard investment management fee applicable to the fund. However, since individual plan investment management fee schedules vary, an individual plan's net performance may be higher or lower than the standard net performance shown here. Net of fee performance does not include any client service or administrative fees payable to third parties at the discretion of the plan sponsor. Gross performance has been calculated before the deduction of investment management fees, but after the deduction of operating expenses applicable to the fund. The monthly adjusted returns are compounded and then annualized to compute the long-term results. Individual Plan performance may vary depending upon the timing of contributions and withdrawals. Investment return and principal value will fluctuate so that, when redeemed, an investor's shares may be worth more or less than when originally purchased. 1 The Standard Management Fee listed is the standard fee used to calculate net performance. The actual investment management fee varies for each Plan based on the fee negotiated with the Plan. This negotiated fee can fluctuate daily based on the various asset level breakpoints reached at the time the daily fee accrual is calculated for each Plan. 2 The expense ratio is year to date, annualized and unaudited. For an audited annual expense ratio please refer to the fund's annual report for the prior year (available upon request from your retirement plan sponsor). Fund expenses may include: portfolio valuation and accounting, transfer agency, custody, annual report and audit fees. 3 The MSCI Emerging Markets® IndexSM is an unmanaged index considered representative of stocks of developing countries. An investment cannot be made directly in an index. 4 Portfolio composition statistics are subject to change and current holdings may differ. It should not be assumed that any of the holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the holdings.