3 Invesco Funds Delivering Great Returns
Founded in 1935, Invesco Ltd. (IVZ) is an investment management company with a worldwide presence. The company has branches in more than twenty countries. Invesco is traded on the New York Stock Exchange and is part of the S&P 500 Index.
The company has a market capitalization of more than $15 billion and employs around 75 investment professionals. Across the globe, it has more than 6,000 employees. Its global footprint includes a presence in North America, the Asia-Pacific region and Europe.
In 1997, the company merged with AIM Investments and was renamed as Amvescap. In 2006, it purchased PowerShares Capital Management and ventured into the ETF space. Several PowerShares ETFs are now listed on the Nasdaq and NYSE Arca indices. In 2007, the company changed its name back to Invesco and listed on the NYSE.
In 2010, Invesco purchased the retail assets management arm of Morgan Stanley, which includes Van Kampen Investments. This year, the company entered the Indian market via a 49% joint venture with Religare Asset Management.
Earlier this month, Invesco revealed that its preliminary assets under management stood at $763.9 billion, increased 2.5% from last month. This increase is attributable to better market returns as well as positive net inflows. The company also reported that both active and passive long term accruals were positive over the month.
Below we are presenting three mutual funds, each of which invests globally and have high returns, as well as the best possible Zacks Rank.
Mutual Fund Picks
Invesco Small Cap Value A (VSCAX)
Launched in June 1999, the fund has total assets of $3.05 billion. It invests heavily in securities issued by companies with small market capitalizations. The fund also invests in derivatives whose economic characteristics are identical to these securities. The fund has a year-to-date return of 36.61%.
The fund holds 67 assets and its top 10 holdings account for 28.29% of its investments. The asset it is most invested in is Abercrombie & Fitch Co. (ANF), which makes up 3.55% of its assets. The next two, Belden Inc (BDC) and Zions Bancorporation (ZION), together make up 6% of its assets. The fund returned 48.92% in the last one year period and has a Zacks Rank #2 (Buy).
Invesco Global Health Care A (GGHCX)
This healthcare focused fund has total assets of $1.44 billion and was launched in August 1989. It invests in both domestic and foreign companies who are focused on healthcare and related sectors. The fund concentrates on acquiring equity and related securities. It invests in companies regardless of their size, but focuses on small and mid cap companies. This fund has a year-to-date return of 39.36%.
The fund holds 64 assets and its top 10 holdings account for 30.84% of its investments. The asset it is most invested in is Roche Holding AG, which makes up 4.10% of its assets. The next two, Gilead Sciences, Inc. (GILD) and Novartis AG ADR. (NVS), together make up 7.84% of its assets. The fund returned 42.35% in the last one year period and has a Zacks Rank #2 (Buy).
Invesco Mid Cap Growth A (VGRAX)
Launched in December 1995, this is also a large fund with total assets of $2.91 billion. The fund invests primarily in mid-cap companies. It focuses on acquiring equity securities, particularly common stock. Not more than 25% of its assets may be utilized to purchase foreign securities. This fund has a year-to-date return of 31.62%.
The fund holds 85 assets and its 10 holdings account for 19.68% of its investments. The asset it is most invested in is Pioneer Natural Resources (PXD) which makes up 2.33% of its assets. The next two, PPG Industries Inc. (PPG) and Affiliated Managers Group Inc. (AMG), together make up 4.53% of its assets. The fund returned 36.54% in the last one year period and has a Zacks Rank #2 (Buy).
All these Invesco funds are large funds with proven track records over an extended period of time. This is why these three funds would make excellent additions to your portfolio.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank.
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