景順歐洲企業債券基金2021年 3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：investorservices@invesco.com 網址 : www.invesco.com/hk

重要提示

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銷售文件詳情

產品資料概要

本基金是複雜產品，投資者應就本基金審慎行事。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。衍生工具和相等於現金價值之工具不計入持量最多之十項投資。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，並由景順投資管理有限公司(Invesco Hong Kong Limited)刊發。©2021 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©2021 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

- 本基金主要投資於企業發行機構發行的歐元計值債務證券。- 投資者務請留意流通性風險, 歐元區危機風險, 投資可轉換證券／可轉換債券／可轉換債務的風險, 主權債務風險, 投資於由企業發行機構所發行的歐元計價債務證券或工具的集中風險, 波動風險, 投資於永續

債券的風險, 有關投資於具有吸收虧損特點的債務工具包括高級非優先債務，或有可轉換債券相關的風險，因為當發生預設觸發事件時，該等工具一般須承受被撇減或轉換為普通股的風險，並可能令該等工具的價值大幅下降，甚至降至毫無價值, 貨幣匯兌風險, 信貸評級風險, 一般投資風險, 債券或其他定息證券投資須承擔：(a) 利率風險 (b) 信用風險（包括違約風險, 評級下調風險及流通性風險）(c)有關投資於高收益債券／非投資級別債券及未評級債券的風險。

- 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以及為投資目的而廣泛投資金融衍生工具。衍生工具風險承擔淨額可佔超過本基金資產淨值的100%。與金融衍生工具相關的風險包括交易對方／信用風險、流通性風險、估值風險、波動風險及場外交易風險。投資者亦需注意本基金為投資目的而廣泛運用衍生工具產生額外/高槓桿風險。本基金所實施的主動金融衍生工具持倉未必與本基金所持相關證券持倉有關，本基金可能因而蒙受重大或全盤損失。本基金並無任何保證。投資者未必可取回全部投資金額。

- 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

本基金的目標是賺取中長線收益兼資本增值。本基金尋求透過主要投資於由企業發行機構發行的歐元計值債務證券以達致其目標。有關投資目標及政策的詳情，請參閱基金章程。

基金基本資料

基金經理 Paul Read, Julien Eberhardt, Tom Hemmant

股份類別推出日期

A(歐元)每月派息股份 2/5/06

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 1.94 十億

首次認購費(最高) 5.00%

每年管理費 1.0%

參考指數 BofA Euro Corporate Index

參考 互動語音系統代碼

彭博代碼 ISIN代碼

A(歐元)每年派息股份 720 INECADE LX LU0794790476

A(歐元)累積股份 712 INVECBA LX LU0243957825

A(歐元)每月派息股份 742 INVECAA LX LU0248037169

收益率 %

總現時收益率 2.24

總贖回收益率 1.55

債券基金的現時收益率指組合內債券之平均總現時收益率。個別債券的現時收益率為年度利息收益除以現時市價的比率。有關年息率，請參閱派息資料。

基金特點(三年)*A(歐元)每月派息股份

波幅 5.66

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。

基金表現*

景順歐洲企業債券基金 (A(歐元)每月派息股份) 參考指數

03/16 03/17 03/18 03/19 03/20 03/2190

100

110

120

累積表現*

% 年初至今 1年 3年 5年

A(歐元)每年派息股份 -0.53 9.84 8.27 13.15

A(歐元)累積股份 -0.53 9.84 8.36 13.23

A(歐元)每月派息股份 -0.53 9.84 8.35 13.22

參考指數 -0.71 8.48 7.43 12.13

年度表現*

2016 2017 2018 2019 2020

2.55 3.54 -3.43 8.35 2.94

2.55 3.54 -3.35 8.34 2.94

2.55 3.54 -3.35 8.34 2.94

4.75 2.42 -1.14 6.25 2.65

派息資料(旨在每月/季/半年/年派息，派息並不保證。)

擬分配頻率 記錄日 每股派息 年息率 (%)

A(歐元)每年派息股份 每年 26/02/21 0.1279 1.05%

A(歐元)每月派息股份 每月 31/03/21 0.0131 1.18%

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: 319)

首10名發行人 %

AT&T 3.4

Total 3.1

Allianz 3.1

Nat West 2.9

BP 2.3

AXA 2.0

Walgreens 1.9

Sanofi 1.8

Apple 1.7

CNP 1.6

修正存續期

in %

修正存續期 4.2

信貸評級分佈 平均評級: BBB%

AAA 2.8

AA 8.9

A 22.4

BBB 43.7

BB 14.2

B 3.5

CCC 及以下 0.6

現金 3.8

1

香港投資者注意

本概要提供有關本產品的重要資料。 本概要為香港發售文件的一部份。 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: 設於英國的 Invesco Asset Management Limited（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（累積－歐元）類別 A（每年派息－歐元）類別 A（每月派息－歐元）類別 C（累積－歐元）類別

1.27%* 1.27%* 1.27%* 0.92%*

* 持續收費數據乃根據截至 2020 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）

最低投資額／最低認購額： 股份類別 A C

首次（申請表格所列 1,500 美元 1,000,000 美元

任何交易貨幣） 1,000 歐元 800,000 歐元 1,000 英鎊 600,000 英鎊

10,000 港元 8,000,000 港元 120,000 日圓 80,000,000 日圓

1,500 澳元 1,000,000 澳元 1,500 加元 1,000,000 加元

2,000 紐元 1,200,000 紐元

其後 - -

本基金是什麼產品？ 景順歐洲企業債券基金 （「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。

目標及投資策略本基金的目標是賺取中長線收益兼資本增值。 本基金尋求透過主要（至少為本基金資產淨值的70%）投資於企業發行機構發行的歐元計值債務證券以達致其目標。

本基金可將合共不超過30%的資產淨值投資於現金與等同現金、貨幣市場工具、不符合上述規定的公司或其他實體所發行的債務證券。

產品資料概要 景順歐洲企業債券基金

景順盧森堡基金系列(SICAV)附屬基金

發行機構：景順投資管理有限公司 2021 年 4 月 8 日

景順歐洲企業債券基金

2

本基金可投資於具有損失吸收特點的債務工具（「LAP」），除包括彭博具有內部財務重整性質的先償非優先債券或被彭博分類為具有內部財務重整性質的任何其他債務證券以外，亦包括或有可轉換債務證券及符合《銀行業(資本)規則》下額外一級資本或二級資本合資格準則的債務工具以及在非香港司法管轄區的同等制度下發行的債務工具。倘若發生觸發事件，該等工具可能面臨或有減值或或有轉換至普通股份。本基金對LAP的投資預期最高佔其資產淨值的30%。本基金可將不超過20%的資產淨值投資於或有可轉換債券。

本基金可將不超過10%的資產淨值投資於已違約或被視為存在高違約風險（由SICAV釐定）的證券。

本基金可將不超過30%的資產淨值投資於非投資級別債務。為免生疑問，本基金可將不超過30%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）或評級未達投資級別（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）的債務證券。

投資經理擬酌情將非歐元計值用於投資對沖回歐元。

本基金可為有效率投資組合管理及對沖目的及為投資目的而廣泛運用金融衍生工具。本基金所使用的衍生工具可能包括信貸、利率及貨幣，以及可能用於實現好倉及淡倉，而總體而言並不會令基金定向做空或賣空任何資產類別。另外，根據適用的UCITS監管規定，基金將不會持有無抵押淡倉。本基金所實施的好淡主動金融衍生工具持倉（包括主動貨幣／利率／信貸持倉）未必與本基金所持相關證券持倉（即債務證券）有關。本基金採用承擔法計算的預期槓桿水平將不會超過本基金資產淨值的0%至300%。

本基金採用承擔法計算的槓桿水平以金融衍生工具相關資產等同持倉的市值（計及可能的對銷及對沖安排）佔其資產淨值的比率表示。

本基金預期投資於總回報掉期的資產淨值比例為0%，及於正常情況下，本基金投資於總回報掉期的資產淨值最高比例為30%。

本基金可從事證券借出。預計基金涉及證券借出的資產淨值比例為20%。正常情況下，基金涉及證券借出的資產淨值最高比例為29%。

衍生工具的運用／投資

基金的衍生工具風險承擔淨額 1可佔超過該基金資產淨值的 100%。

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。

波動風險 - 投資者應注意，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。

信用風險

- 投資於債券、債務或其他定息證券（包括企業及主權債券）須承擔發行機構不支付該等證券的利息及本金的風險。發行機構的財政狀況若出現逆轉，證券質素即會下降，該證券的價格波動亦會加劇。

- 於購入當時屬投資級別的證券有可能被降級。被降級風險因時而異。本基金的投資政策並無具體規定本基金必須在一旦該等證券被降級至低於投資級別時沽出該等證券。此外，投資經理及／或副投資經理（如適用）可能無法出售被降級的債務工具。投資於未達投資級別證券須承擔較高違約風險，本基金及／或投資者利益可能因此蒙受不利影響 。

利率風險 - 若本基金投資於債券或定息證券，其價值或會因利率變動而下跌，本基金資產淨值或會因而蒙受不利影響。一般而言，利率下跌時，債務證券的價格會上升，利率上升時則會下跌。較長期的債務證券通常對利率變動較為敏感。

流通性風險 - 本基金可能因其投資證券的市場流通性下跌而受到不利影響，本基金部份證券可能變成不流通，令本基金難以及時按公平價格出售證券。本基金應付隨時提出的贖回要求的能力或會受到影響。

信貸評級風險 - 評級機構給予的信貸評級存在限制，不能時刻保證該證券及／或發行機構的信譽。

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。

景順歐洲企業債券基金

3

集中風險 - 由於本基金將主要投資於由企業發行機構所發行的歐元計價債務證券或工具，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。

投資可轉換證券／可轉換債券／可轉換債務的風險 - 可轉換證券／可轉換債券／可轉換債務為債股混合工具，一般容許持有人於指定未來日期轉換為發債公司的股份。因此，可轉換證券／可轉換債券／可轉換債務或會受股票走勢影響，與不可轉換證券／不可轉換債券／不可轉換債務投資相比較為波動。於可轉換證券／可轉換債券／可轉換債務的投資須承擔與相若不可轉換證券／不可轉換債券／不可轉換債務投資相關的類似利率風險、信用風險、流通性風險及提早還款風險。

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。

投資於高收益債券／非投資級別債券及未評級債券的風險 - 本基金可投資於涉及重大風險的高收益債券／非投資級別債券及未獲評級債券。以發行機構支付本金及利息的能力衡量，高收益債券／非投資級別債券及未獲評級債券被視為絕大部份屬投機性質。高收益債券／非投資級別債券及未獲評級債券的發行機構可能存在高度槓桿、流通性較低及波動性較高，而且未必可使用較傳統的融資方法。經濟衰退或會對發行機構的財務狀況以及由該實體發行的高收益債券／非投資級別債券及未評級債券的市值造成不利影響。與較高評級債券相比，高收益債券／非投資級別債券及未評級債券一般承擔較大的本金及利息損失風險。因此，本基金及／或投資者利益或會蒙受不利影響。

主權債務風險 - 本基金對由政府發行或擔保的證券的投資或須承擔政治、社會及經濟風險。在不利情況下，主權發行機構未必能夠或願意於到期時償還本金及／或利息，又或可能要求本基金參與重組該等債務。當主權債務發行機構違約時，本基金或會蒙受重大損失。

與投資於具損失吸收特點的債務工具（LAP）相關的風險

- 具有損失吸收特點的債務工具與傳統債務工具相比須承受較大風險，因為有關工具在發生預先界定的觸發事件（例如發行人接近或無法繼續營運或發行人資本比率下降至低於指定水平）後通常會面臨減值或轉換為普通股，有關觸發事件可能不在發行人的控制範圍內。該等觸發事件複雜且難以預測，並可能導致有關工具的價值顯著或全面下跌。

- 倘若引發觸發事件，可能會影響整個資產類別的價格並造成波動。具有損失吸收特點的債務工具亦須承受流動性、估值及行業集中度風險。

- 本基金或會投資於或有可轉換債務證券，通常稱作 CoCos，該等證券相當複雜且風險較高。發生觸發事件時，CoCos 可能會轉換為發行人股份（價格可能出現折讓）或永久性減值至零。CoCos 的票息付款由發行人酌情釐定並可因任何理由於任何時間範圍內隨時取消。

- 本基金可投資於先償非優先債務。儘管該等工具的受償通常優先於次級債務，但在發生觸發事件時或會面臨減值並且不再屬於發行人的債權人排列內。這可能導致投資者損失全部本金。

投資於永續債券的風險 - 本基金獲准投資於永續債券。永續債券（並無到期日的債券）可能在若干市況下承擔額外的流通性風險。該等投資項目於受壓市場環境下的流通性可能有限並對出售價格造成負面影響，繼而對本基金的表現造成負面影響。

為有效率投資組合管理及對沖目的及為投資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。除上文所述風險外，本基金可為投資目的而運用衍生工具並可能承擔額外槓桿風險，若投資經理未能成功預計市場走勢，或會導致本基金的資產淨值大幅波動及／或蒙受極端虧損。本基金的風險取向或會因而提高。

執行與本基金相關資產不相關之主動金融衍生工具持倉的風險 -本基金所執行的主動金融衍生工具持倉（包括主動貨幣／利率和信貸持倉）與本基金持有之相關證券持倉（即債務證券）未必相關，即使相關證券持倉（即基金所持債務證券）的價值並無損失，但本基金仍可能蒙受重大或全盤損失。

高槓桿風險 - 本基金的槓桿持倉淨值有可能超過其資產淨值的 100%，因而承受更高的槓桿風險。這會進一步放大本基金的任何相關資產價值變動的潛在負面影響，並導致本基金的價格出現大幅波動，並可能會引致重大損失。

景順歐洲企業債券基金

4

本基金表現如何？

• 由於本基金於 2018 年 3月 8日作出若干更改，上圖所示 2018年 3月 8日前之表現所依據的投資目標及政策已不再適用。

基金經理認為A（每月派息－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，為最合適的代表股份類別。

基金成立日期：2006年3月31日。 股份類別成立日期：2006年5月2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。

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%。 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

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：1.00% C 類：0.65%

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 C 類：不適用

服務代理人費用 A 類：最多為 0.27% C 類：最多為 0.20%

* 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。

-1.4

20.3

3.2

8.0

-1.7

2.5 3.5

-3.4

8.3

2.9

-10

0

10

20

30

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

%

景順歐洲企業債券基金

5

其他資料 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。

Invesco Euro Corporate Bond Fund31 March 2021

Morningstar RatingTM*AAAA

Invesco Funds Hotline: (852) 3191 8282 Invesco Distributors Hotline: (852) 3191 8000 Fax: (852) 3128 6500 Email: investorservices@invesco.com Website: www.invesco.com/hk

Important Information

202102(AP235)

Prospectus andFinancial Reports

KFS of the fund

The Fund is a complex product, investors should exercise caution in relation to the Fund. The investment performances are denominated in EUR. US/HK dollar-based investors are therefore exposed tofluctuations in exchange rates. Derivatives and cash equivalent instruments are excluded in the calculation of Top 10 holdings. Investment involves risks. Past performance is not indicative of futureperformance. 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 Commission and isissued by Invesco Hong Kong Limited (景順投資管理有限公司). ©2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its contentproviders; (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 useof this information. Asset allocation data is derived by Morningstar using full holdings data provided 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 ©2021 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 primarily in debt securities denominated in Euro issued by corporate issuers.- Investors should note the liquidity risk, risk of Eurozone crisis, risk of investing in convertibles/convertible bonds/convertible debts, sovereign debt risk, concentration risk of investing in debt securities or instrumentsdenominated in Euro issued by corporate issuers, volatility risk, risk of investing in perpetual bonds, risk associated with investments in debt instruments with loss-absorption features including senior non-preferreddebts, contingent convertible bonds which are subject to the risk of being written down or converted to ordinary shares upon the occurrence of pre-defined trigger events and may result in a significant or totalreduction in the value of such instruments, currency exchange risk, credit rating risk, general investment risk, and Investment in bonds or other fixed income securities is subject to (a) interest rate risk (b) credit risk(including default risk, downgrading risk and liquidity risk) and (c) risks relating to high yield bonds/non-investment grade bonds and/or un-rated bonds.

- Financial derivative instruments (FDI) may be used for efficient portfolio management and hedging purpose and extensively for investment purposes. Net derivative exposure may be more than 100% of the Fund's netasset value. Risks associated with FDI include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. As a result of the use of FDI extensively for investment purposes,investors should note the additional/high leverage risk. Also, the active FDI positions implemented by the Fund may not be correlated with its underlying securities positions held by the Fund which may lead to asignificant or total loss to the Fund. The Fund does not have any guarantees. Investors might not get back the full amount of money you invest.

- 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 Fund aims to achieve a combination of income and capital growth over the mediumto long-term. The Fund seeks to achieve its objective by investing primarily in debtsecurities denominated in Euro issued by corporate issuers. For the full objectives andinvestment policy please consult the current prospectus.

Key facts

Fund manager Paul Read, Julien Eberhardt, Tom HemmantShare class launch dateA (EUR)-MD Shares 2/5/06Legal Status Luxembourg SICAV with UCITS statusShare class currency EURFund Size EUR 1.94 bnInitial Charge (up to) 5.00%Annual Management Fee 1.0%Reference Benchmark BoA Euro Corporate Index

References IVRSCode

Bloomberg code ISIN code

A(EUR)-AD Shares 720 INECADE LX LU0794790476A(EUR)-Acc Shares 712 INVECBA LX LU0243957825A(EUR)-MD Shares 742 INVECAA LX LU0248037169

Yield %

Gross Current Yield 2.24Gross Redemption Yield 1.55The current yield of a bond fund is the average current yield of underlying bonds in grossin the portfolio. Current yield of an individual bond refers to the annual interest dividedby the market price of a bond. The figure is not the dividend yield received by theinvestors. For annualized dividend yield, please refer to Distribution information.

3 year characteristics*A (EUR)-MD Shares

Volatility 5.66Volatility 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.

Indexed performance*

Invesco Euro Corporate Bond Fund (A (EUR)-MD Shares) Benchmark

03/16 03/17 03/18 03/19 03/20 03/2190

100

110

120

Cumulative performance*% YTD 1 year 3 years 5 yearsA (EUR)-AD Shares -0.53 9.84 8.27 13.15A (EUR)-Acc Shares -0.53 9.84 8.36 13.23A (EUR)-MD Shares -0.53 9.84 8.35 13.22Benchmark -0.71 8.48 7.43 12.13

Calendar year performance*2016 2017 2018 2019 20202.55 3.54 -3.43 8.35 2.942.55 3.54 -3.35 8.34 2.942.55 3.54 -3.35 8.34 2.944.75 2.42 -1.14 6.25 2.65

Distribution information(Aims to pay dividend on monthly/quarterly/semi-annual/ annual basis. Dividend is not guaranteed.)

Intendedfrequency Record date Amount/Share Annualized

dividend (%)A (EUR)-AD Shares Annual 26/02/21 0.1279 1.05%A (EUR)-MD Shares Monthly 31/03/21 0.0131 1.18%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: 319)

Top 10 issuers %

AT&T 3.4Total 3.1Allianz 3.1Nat West 2.9BP 2.3AXA 2.0Walgreens 1.9Sanofi 1.8Apple 1.7CNP 1.6

Modified duration

in %Modified duration 4.2

Credit ratings average rating: BBB%

AAA 2.8AA 8.9A 22.4BBB 43.7BB 14.2B 3.5CCC and Below 0.6Cash 3.8

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 Hong Kong Offering Document.

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 Limited, located in the UK. (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 accumulation – EUR Class A annual distribution – EUR Class A monthly distribution – EUR Class C accumulation – EUR

1.27%* 1.27%* 1.27%* 0.92%*

* The ongoing charges figure is calculated based on annualised expenses for the period ending 31 August 2020 dividedby the average net assets over the same period. This figure may vary from year to year. It excludes portfoliotransaction 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)

Minimum Investment/ Minimum Subscription Amount: Share class A C

Initial (in any of the USD1,500 USD1,000,000 dealing currencies EUR1,000 EUR800,000 listed in the GBP1,000 GBP600,000 Application Form) HKD10,000 HKD8,000,000

JPY120,000 JPY80,000,000 AUD1,500 AUD1,000,000 CAD1,500 CAD1,000,000 NZD2,000 NZD1,200,000

Additional - -

What is this product? Invesco Euro Corporate Bond 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 Fund aims to achieve a combination of income and capital growth over the medium to long-term.

The Fund seeks to achieve its objective by investing primarily (at least 70% of its net asset value of the Fund) in debt securities denominated in Euro issued by corporate issuers.

Up to 30% of the net asset value of the Fund may be invested in aggregate in cash, cash equivalents, money market instruments and debt securities issued by companies or other entities not meeting the above requirements.

PRODUCT KEY FACTS Invesco Euro Corporate Bond Fund

A sub-fund of Invesco Funds (SICAV)

Issuer: Invesco Hong Kong Limited 8 April 2021

Invesco Euro Corporate Bond Fund

2

The Fund may invest in debt instruments with loss-absorption features ("LAP"), including contingent convertible debt securities and debt instruments meeting the qualifying criteria to be Additional Tier 1 Capital or Tier 2 Capital under the Banking (Capital) Rules and debt instruments issued under an equivalent regime of non-Hong Kong jurisdictions, in addition to senior non-preferred debt with a bail-in flag on Bloomberg or any other debt security with a bail-in flag, as classified by Bloomberg. These instruments may be subject to contingent write-down or contingent conversion to ordinary shares on the occurrence of trigger event(s). The Fund's expected maximum investments in LAP will be up to 30% of its net asset value. The Fund may invest up to 20% of its net asset value in contingent convertibles.

The Fund may invest up to 10% of its net asset value in securities which are either in default or deemed to be at high risk of default as determined by the SICAV.

Up to 30% of the net asset value of the Fund may be invested in non-investment grade debt. For avoidance of doubt, the Fund may invest up to 30% of its net asset value in debt securities which are unrated (debt securities which are not rated by any international rating agency such as Moody's, Standard & Poor's and Fitch) or rated 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).

Non-Euro denominated investments are intended to be hedged back into Euro at the discretion of the Investment Manager.

The Fund may enter into financial derivatives instruments for efficient portfolio management, hedging purposes and extensively for investment purposes. The Fund’s use of derivatives may include derivatives on credit, rates and currencies and may be used to achieve both long and short positions, which overall will not result in the Fund being directionally short, or short any asset class. In addition, the Fund will not have uncovered short positions, in line with appropriate UCITS regulatory requirements. The long and short active financial derivative positions (including active currency/interest rate/credit positions) implemented by the Fund may not be correlated with the underlying securities positions held by the Fund (i.e. debt securities). The expected level of leverage of the Fund calculated using the commitment approach is 0 to 300% of the net asset value of the Fund.

The level of leverage of the Fund using the commitment approach is expressed as a ratio between the market value of the equivalent position in the underlying assets of the financial derivative instruments (taking into account the possible netting and hedging arrangements) and its net asset value.

The expected proportion of the net asset value of the Fund to total return swaps is 0%. Under normal circumstances, the maximum proportion of the net asset value of the Fund subject to total return swaps is 30%.

The Fund may engage in securities lending. The expected proportion of the net asset value of the Fund subject to securities lending is 20%. Under normal circumstances, the maximum proportion of the net asset value of the Fund subject to securities lending is 29%.

Use of derivatives / investment in derivatives The Fund’s net derivative exposure1 may be more than 100% 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.

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.

Credit risk

- Investment in bonds, debt or other fixed income securities (including corporate and sovereign bonds) are subject to the risk that issuers do not make payments on interest and principal of such securities. An issuer

1 Please refer to the offering document for details regarding the calculation methodology of net derivative exposure.

Invesco Euro Corporate Bond Fund

3

suffering from an adverse change in its financial condition could lower the quality of a security leading to greater price volatility on that security.

- Securities which were investment grade at the time of acquisition may be downgraded. The risk of any such downgrading will vary over time. The Fund’s investment policy does not specifically require the Fund to sell such securities if they should fall below investment grade. Besides, the Investment Manager and/or Investment Sub-Manager (if applicable) may not be able to dispose of the debt instruments that are being downgraded. Investments in below investment grade securities carry a higher risk of default and therefore may adversely impact the Fund and/or the interests of investors.

Interest rate risk - The bonds or fixed income securities that the Fund invests in may fall in value if the interest rates change and this will adversely impact the net asset value of the Fund. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. Longer term debt securities are usually more sensitive to interest rate changes.

Liquidity risk - The Fund may be adversely affected by a decrease in market liquidity for the securities in which it invests where some of the Fund’s securities may become illiquid and the Fund may experience difficulties in selling securities at a fair price within a timely manner. This could impact the Fund’s ability to meet redemption requests on demand.

Credit rating risk - Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.

Concentration risk - As the Fund will invest primarily in debt securities or instruments denominated in Euro issued by corporate issuers, such concentration may exhibit a higher than usual degree of risk and 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 investing convertibles/convertible bonds/convertible debts - Convertibles/convertible bonds/convertible debts are a hybrid between debt and equity, typically permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles/convertible bonds/convertible debts may be exposed to equity movement and greater volatility than non-convertibles/convertible bonds/convertible debts investments. Investments in convertibles/convertible bonds/convertible debts are subject to the similar interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable non-convertibles/convertible bonds/convertible debts investments.

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 high yield bonds/non-investment grade bonds and un-rated bonds - The Fund may invest in high yield bonds/ non-investment grade bonds and un-rated bonds which involve substantial risk. High yield bonds/ non-investment grade bonds and un-rated bonds are regarded as being predominantly speculative as to the issuer’s ability to make payments of principal and interest. Issuers of high yield bonds/ non-investment grade bonds and un-rated bonds may be highly leveraged, subject to lower liquidity and higher volatility and may not have available to them more traditional methods of financing. An economic recession may adversely affect an issuer’s financial condition and the market value of high yield bonds/ non-investment grade bonds and un-rated bonds issued by such entity. High yield bonds/ non-investment grade bonds and un-rated bonds are generally subject to greater loss of principal and interest than high-rated bonds. As such, this may adversely impact the Fund and/or the interests of investors.

Sovereign debt risk - The Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the Fund to participate in restructuring such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers.

Risks associated with investments in debt instruments with loss-absorption features (LAP)

- Debt instruments with loss-absorption features are subject to greater risks when compared to traditional debt instruments as such instruments are typically subject to the risk of being written down or converted to ordinary shares upon the occurrence of a pre-defined trigger event(s) (e.g. when the issuer is near or at the point of non-viability or when the issuer’s capital ratio falls to a specified level), which are likely to be outside of the

Invesco Euro Corporate Bond Fund

4

issuer’s control. Such trigger events are complex and difficult to predict and may result in a significant or total reduction in the value of such instruments.

- In the event of the activation of a trigger, there may be potential price contagion and volatility to the entire asset class. Debt instruments with LAP may also be exposed to liquidity, valuation and sector concentration risk.

- The Fund may invest in contingent convertible debt securities, commonly known as CoCos, which are highly complex and are of high risk. Upon the occurrence of the trigger event, CoCos may be converted into shares of the issuer (potentially at a discounted price), or may be subject to the permanent write-down to zero. Coupon payments on CoCos are discretionary and may be cancelled by the issuer at any point, for any reason, and for any length of time.

- The Fund may invest in senior non-preferred debts. While these instruments are generally senior to subordinated debts, they may be subject to write-down upon the occurrence of a trigger event and will no longer fall under the creditor ranking hierarchy of the issuer. This may result in total loss of principal invested.

Risk of investing in perpetual bonds - The Fund is permitted to invest in perpetual bonds. Perpetual bonds (bonds without a maturity date) may be exposed to additional liquidity risk in certain market conditions. The liquidity for such investments in stressed market environments may be limited, negatively impacting the price they may be sold at, which in turn may negatively impact the Fund’s performance.

Risk of investing in financial derivative instruments ("FDI") for efficient portfolio management and hedging purpose and for investment 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. As well as the risks identified above, the Fund may use derivatives for investment purposes and may be exposed to additional leveraged risk, which may result in significant fluctuations of the net asset value of the Fund and/or extreme losses where the Investment Manager is not successful in predicting market movements. This in turn may lead to an increase in the risk profile of the Fund.

Risks of implementing active FDI positions not correlated with underlying asset of the Fund - As the active FDI positions (including active currency/interest rate/credit positions) implemented by the Fund may not be correlated with the underlying securities positions held by the Fund (i.e. debt securities), the Fund may suffer a significant or total loss even if there is no loss of the value of the underlying securities positions being debt securities held by the Fund.

High leverage risk - The Fund may have net leveraged exposure of more than 100% of its net assets value and is therefore subject to high leverage risk. This will further magnify any potential negative impact of any change in the value of the underlying asset on the Fund and also increase the volatility of the Fund's price and may lead to significant losses.

Invesco Euro Corporate Bond Fund

5

How has the Fund performed?

• The performance shown in the chart above prior to 8 March 2018 was based on an investment objective and policy that no longer applies, with certain changes being made to the Fund on 8 March 2018.

The Fund Manager views Class A monthly distribution - EUR (the “Share Class”), being the focus share class of the Fund available to the public of Hong Kong, as the most appropriate representative share class.

Fund launch date: 31 March 2006. Share Class launch date: 02 May 2006. 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.

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 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

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: 1.00% Class C: 0.65%

Custodian fee/ Depositary charge

Up to 0.0075%

Performance fee N/A

Administration fee N/A

Distribution fee Class A: N/A Class C: N/A

Service agents fee Class A: Up to 0.27%

-1.4

20.3

3.2

8.0

-1.7

2.5 3.5

-3.4

8.3

2.9

-10

0

10

20

30

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

%

Invesco Euro Corporate Bond Fund

6

Class C: Up to 0.20%

* 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.

Additional Information 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.