Invesco - Currency hedging

Currency hedging

Currency or exchange-rate risk is a factor when you invest in foreign securities. Although you purchased the Fund in Canadian dollars, it may invest in securities outside of Canada using a different currency. As a result, changes in the value of the Canadian dollar relative to the foreign currency affect your investment value either positively or negatively.

Currency hedging seeks to smooth the ups and downs generated by exchange-rate movements on the value of a Fund and provides investors with more certainty as to the level of foreign exchange exposure in their investment.


The purpose of this page is to keep you up to date on foreign currency hedging activities in those funds where the portfolio managers choose to hedge some or all foreign currency exposure.

Invesco doesn't require portfolio management teams to either hedge or not hedge foreign currency exposure. The decision rests solely with the lead portfolio manager of a fund. Portfolio managers may decide to hedge or not hedge based on their personal philosophies or may act opportunistically and hedge some currencies some of the time. Portfolio managers are free to change their foreign currency strategy at any time and without notice.

Listed below are all Invesco funds that currently have some currency hedging in place (other than the currency-neutral solutions) as at the date indicated. This information will be updated at each quarter end.



Hedging information (As of December 31, 2014)
Data not audited


Fixed-Income funds

Fund Currencies that are hedged Exposure to this currency (before hedges)
(%)
% of this currency exposure hedged Total foreign currency exposure
of the Fund (after hedges)
(%)
Trimark Canadian Bond Fund USD 12 100 0
Trimark Canadian Bond Class USD 12 100 0
Trimark Floating Rate Income Fund USD 83 85 13
Trimark Government Plus Income Fund USD 6 100 0
Trimark Advantage Bond Fund USD 60 86 8
Trimark Global High Yield Bond Fund USD 73 83 12
Invesco Emerging Markets Debt Fund USD 3 48 96
 
Balanced funds

Fund Currencies that are hedged Exposure to this currency (before hedges)
(%)
% of this currency exposure hedged Total foreign currency exposure
of the Fund (after hedges)
(%)
Trimark Income Growth Fund USD 17 9 17
Trimark Diversified Income Class EUR
USD
2
19
48
32

23
Trimark Diversified Yield Class EUR
USD
2
19
46
31

23
Invesco Canadian Balanced Fund USD 9 6 27
Invesco Core Canadian Balanced Class USD 13 6 22
Trimark Global Balanced Fund BRL
MXN
USD
ZAR
1
2
54
4
50
48
41
49



66
Trimark Global Balanced Class BRL
MXN
USD
ZAR
1
2
53
4
50
46
40
48



66
 
Canadian equity funds

Fund Currencies that are hedged Exposure to this currency (before hedges)
(%)
% of this currency exposure hedged Total foreign currency exposure
of the Fund (after hedges)
(%)
Trimark Canadian Plus Dividend Class EUR
USD
2
18
46
35

21
 
Global equity funds

Fund Currencies that are hedged Exposure to this currency (before hedges)
(%)
% of this currency exposure hedged Total foreign currency exposure
of the Fund (after hedges)
(%)
Trimark Global Fundamental Equity Fund EUR
USD
9
2
47
51

89
Trimark Global Fundamental Equity Class EUR
USD
9
2
47
49

88
Trimark Global Dividend Class EUR 15 48 79
Trimark Global Endeavour Fund MXN
ZAR
2
6
49
49

  83
Trimark Global Endeavour Class MXN
ZAR
2
6
48
53
 
  82
Trimark Europlus Fund EUR 31 80 60
 

Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the simplified prospectus before investing. Copies are available from your advisor or from Invesco Canada Ltd.






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