We are dedicated to delivering an investment experience that helps people get more out of life Q2 2017 This marketing document is exclusively for use by Professional Clients and Financial Advisers in Continental Europe, Qualified Investors in Switzerland and Professional Clients in Dubai, Jersey, Guernsey, Ireland, Isle of Man and the UK. This document is not for consumer use, please do not redistribute.
Contents Invesco Ltd. Group level Invesco s Cross Border capabilities Funds domiciled in Luxembourg and Ireland Selected Invesco Investment Teams 2
Invesco Ltd. Group level
Who we are A leading independent global investment manager We are privileged to manage more than $834 billion in assets on behalf of clients worldwide. Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. We have: Specialised investment teams managing investments across a comprehensive range of asset classes, investment styles and geographies More than 6,500 employees focused on client needs across the globe Proximity to our clients with an on-theground presence in more than 20 countries Solid financials, investment grade debt rating, and strong balance sheet UK & Ireland US & Canada Asia Continental Europe Middle East Australia Source: Invesco Ltd. as at 31 March 2017. $ = US. Locations shown indicate offices hosting Portfolio Manager, Analyst, Trader, Economist, Strategist and/or Distribution staff. 4
What we believe Our beliefs put clients at the center of everything we do We believe A pure focus on investing eliminates the distractions that compromise results A passion to exceed improves client outcomes Diversity of thought and a collaborative culture produce the best ideas A comprehensive range of capabilities enables us to meet the unique needs of clients A high-conviction approach is more impactful Patience leads to better results over time Our beliefs enable us to Inspire the consistent behaviors and discipline that can help generate strong, long-term investment performance for our clients; and Maintain an engaging work environment can help us attract, develop, motivate and retain the best talent in the industry 5
Our strategic objectives help us deliver for our clients over the long term Strategic Objectives Achieve strong investment performance Be instrumental to our clients success Harness the power of our global platform Perpetuate a high-performance organization Our Purpose Delivering an investment experience that helps people get more out of life 6
We ve built Invesco with a single focus: To help clients achieve their investment objectives Every client has a unique set of investment objectives, which can be achieved in a variety of ways Invesco s comprehensive range of high-conviction investment capabilities has been constructed over many years to help clients achieve their investment objectives Our fundamental and factor-based methodologies aim to deliver client outcomes that go beyond the limitations of traditional passive investing and benchmark-centric active management This high-conviction approach aims to provide better tools to build portfolios in a more precise and impactful way 7
We enable outcomes that seek to help clients around the world achieve their investment objectives Our comprehensive range of investment capabilities Equity Fixed Income and Money Market Balanced Alternative Global/Multi-Region Regional/Single Country Sector-Based Multi-Sector Single-Sector Specialty Traditional Non-Traditional Relative Value/ Absolute Return are delivered through diverse investment vehicles Such as open-ended funds (ICVCs/Mutual funds/sicavs), exchange traded funds and investment vehicles. to enable key outcomes that seek to help our clients around the world achieve their investment objectives Income Growth Source: Invesco Ltd. as at 31 March 2017. Delivery options may not be available in all countries. Please consult your Invesco representative for more information on any of the strategies mentioned. Please note that depending on local legislation not all investment strategies are available through each investment vehicle or in all jurisdictions. There is no guarantee that these targets will be achieved. 8
We seek to help clients build better portfolios through high-conviction investing High conviction Fundamental Benchmark centric Fundamental Benchmark-centric fundamental strategies Strategies constructed through active security selection to generate alpha Factor-based Traditional beta Smart beta Factor-based Replication of marketcap-weighted benchmarks Transparent, rules-based strategies that provide alternatives to market-capweighted indices by isolating specific factors to provide exposure and/or mitigate risk Strategies that systematically apply active insights to target specific risk/return expectations Low Conviction High Conviction For illustrative purposes only. 9
Our global investment management process is focused on delivering strong, long-term investment performance Invesco Global Investment Management Process Our clear, thoughtful structure ensures dedicated expertise at every stage of our global investment management process Our global investment management process is supported by a culture that encourages collaboration and compounds expertise to drive results At every step in the process, we provide global expertise and support that seeks to enhance the investment outcomes we deliver to clients Diversity of thought is a core strength of our organization, reflected by our broad range of distinctive investment teams Performance Analytics Performance Reporting Analytics Portfolio Risk Implementation Market intelligence Implementation evaluation Execution Transaction analysis Investment Capability People Investment philosophy Talent management Thought leadership Portfolio Management Investment process Research inputs Portfolio construction Investment decision For illustrative purposes only. There is no guarantee that these targets will be achieved. 10
Our pure focus on investing has enabled us to deliver strong, long-term investment performance to clients Percent of actively-managed assets in top half of peer group 1 1-year 3-year 5-year 66% 72% 75% 28% 21% 34% Assets top half of peer group Assets bottom half of peer group Source: Invesco Ltd. as at 31 March 2017. 1 Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Includes AUM of US$480.5 billion (58% of total IVZ) for 1 year, US$478.4 billion (55% of total IVZ) for three year, and US$456.4 billion (55% of total IVZ) for 5 year. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience. 11
We are purely focused on investment management for the benefit of clients Our pure focus on investing enables our investment professionals to concentrate solely on managing money for clients Our investment leadership is highly experienced and accountable Our distinctive investment teams are well-resourced Our culture of collaboration helps attract, develop and retain top talent For illustrative purposes only. 12
Our employees are engaged and focused on helping clients achieve their investment objectives Invesco employee survey scores vs. industry benchmarks (% favorable) 2007 2009 2011 2013 2015 Invesco Engagement 78% 85% 85% 89% 90% Global Financial Services Norm 76% 79% 79% 81% 82% Global High Performing Norm 83% 84% 84% 87% 86% Source: Invesco Ltd. Employee Survey, as at 31 December 2015. Source for Global Financial Services Norm and Global High Performing Norm: Willis Towers Watson, as at 31 December 2015. 13
Accountability for risk management is embedded throughout our firm, which helps ensure we deliver on the expectations we ve set Risk Oversight and Governance Risk Management Facilitation Risk Management Embedded in the Business Internal Control Board of Directors and Independent Fund Boards Executive Management Team Risk Areas of Focus Global Performance Measurement and Risk Facilitates investment oversight function Independently reviews investment execution and process application Monitors consistency of investment results with mandates, market environments, client and CIO expectations 90+ professionals Investment Risk Management Managing our core risks through the investment centers Investment Credit/Asset/Liability Compliance and Internal Audit Facilitate and monitor internal control at all levels Financial Operational Business Corporate Risk Management Committee Timely and consistent identification, evaluation and mitigation of operational and business risk Senior executives from all major business functions including: Investment management/trading Product management Administration (information technology, investment operations, human resources, procurement) Portfolio operations Legal and compliance Finance and internal audit Strategy Business/Operational Risk Management Managing all other risks in the business Source: Invesco Ltd. as at 31 March2017. For illustrative purposes only. 14
Our reputation as an ethical, responsible provider of investment services is essential to our core mission Investing in Our Communities Invesco provides equal opportunity in our employment and promotion practices, is committed to responsible corporate citizenship, and encourages our employees to play active roles in the growth and development of the communities in which they live and work By donating time, energy, and other resources, Invesco teams support a variety of local and international programs for the arts Supporting the Environment As a global investment management firm, we have a responsibility to help sustain a healthy, clean environment for future generations Invesco is a signatory of the United Nations-supported Principals for Responsible Investment (PRI) initiative and has accepted the Principles for Responsible Institutional Investors Japan s Stewardship Code. In addition to considering environmental issues as part of an overall investment process, Invesco is committed to continuous improvement in environmental management as an important part of the way we do business Source: Invesco Ltd. as at 31 March 2017. 15
Our diversity across geographies, channels and asset classes helps us deliver a diverse set of solutions to meet client needs By client domicile By channel By asset class 3% 15% 12% 66% 9% 66% 34% 25% 45% 10% 9% 6% ($ billions) 1-Yr Change ($ billions) 1-Yr Change ($ billions) 1-Yr Change US Canada UK Europe Asia $550.0 $23.9 $101.0 $77.6 $82.3 8.4% 4.4% 1.8% 3.6% 22.8% Retail Institutional $552.1 $282.7 8.7% 7.2% Equity Balanced Money Market Fixed Income Alternative* $381.8 $48.9 $73.1 $203.8 $127.2 6.2% 4.5% 6.6% 8.9% 16.2% Total $834.8 8.2% Total $834.8 8.2% Total $834.8 8.2% Source: Invesco Ltd. All data as at 31 March 2017. $ = US. Diversification does not guarantee a profit or eliminate the risk of loss. *Includes private equity, real estate, financial structures, and absolute return strategies. 16
We believe we are well positioned to help clients achieve their investment objectives Success driver Deep understanding of client needs Pure focus on investment management Experienced, stable and accountable investment leadership Organizational strength Invesco position Deep knowledge of clients and their evolving needs Comprehensive, high-conviction, fundamental and factor investing product line Demonstrated ability to combine a broad range of capabilities to construct portfolios aligned with client investment objectives by channel and by region No competing lines of business to support Strong investment reputation Independence Infrastructure and client support platforms that enable our investors to spend more time focused on investing Specialized, stable investment teams with discrete investment perspectives and experience across diverse market cycles Disciplined, repeatable investment philosophy and processes Strong risk management and oversight Compensation aligned with performance and client interests Broad and deep global presence in key markets Solid margins, financial strength, and resources to ensure long-term investment in the business 6,000+ highly engaged and motivated employees focused on client needs Proven management team with a solid track record Source: Invesco Ltd as at 31 March 2017. 17
Invesco s investment teams Invesco Asia-Pacific Invesco Quantitative Strategies Invesco Fundamental Equity Invesco PowerShares Investment focus: Asian ex-japan Greater China India Japan Australia Invesco Private Capital Investment focus: US, global, regional and emerging equity Long/short strategies Active low volatility Balanced solutions Invesco Global Core Equity Investment focus: US growth equity US value equity International and global growth equity Sector equity Balanced portfolios Investment focus: Index-based ETFs and actively managed ETFs Domestic and international equity Taxable and tax-free fixed income Commodities and currencies Investment focus: Private equity fund of funds Customized portfolios Investment focus: Emerging markets International and global equity US equity Invesco Real Estate Invesco Unit Investment Trusts Invesco Fixed Income Invesco WL Ross & Co. Investment focus: Global direct real estate investing Global public real estate investing Investment focus: Equity trusts Closed-end trusts Tax-free/Taxable fixedincome trusts Investment focus: Global liquidity Stable value Global and US broad fixed income Global alternatives and bank loans Investment focus: Private equity: Contrarian buyouts, distressed and special situations Invesco Perpetual Invesco Global Asset Allocation Invesco Canada Investment focus: Global and regional equities including U.K., European, Asian, Japanese and emerging markets Multi-asset Fixed income Investment focus: Global macro Risk parity Commodities Active balanced solutions Investment focus: Canadian, regional, sector and global equity Canadian and global fixed income Balanced portfolios Source: Invesco. All data as of 31 March 2017. The listed teams do not all provide products or services that are available in all jurisdictions nor are their products and services available on all platforms. All entities listed are wholly owned, indirect subsidiaries of Invesco Ltd. Please consult your Invesco representative for more information. 18
Invesco s Cross Border Capabilities Funds domiciled in Luxembourg and Ireland
A decorated Cross Border product range Invesco funds: Morningstar Rating in % 3% 12% 19% 5 Stars 4 Stars 3 Stars 52% of all Invesco Global Product Range funds rated by Morningstar have 4 or 5 Morningstar Stars 34% 32% 2 Stars 1 Stars Source: Morningstar (as of 30 April 2017). Funds rated 5*: 15, funds rated 4*: 25, all other rated 1*, 2* or 3*. This overview includes all Invesco UCITS mutual funds and therefore the entire cross border mutual fund range. This overview does not include Invesco funds not rated by Morningstar (43 out of 122). Reasons for no rating: Track Record below 3 years and grouping in a Mstar category for which Mstar does not provide ratings. For additional information: http://www.morningstar.de/de/help/methodology.aspx. Past performance is not a guide to future returns. Any reference to a raking, rating or an award provides no guarantee for future performance results. 20
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Apr-17 Invesco Cross Border Funds Assets Under Management & breakdown by asset class Assets Under Management ($m) Invesco Cross Border Funds AUM by Asset Type 70 000 60 000 17% 50 000 28% 0% 40 000 30 000 16% 36% 20 000 10 000 AUM in $m # of funds 0 Alternatives* Cash Equity Fixed Income Multi Asset $11,022 $395 $23,765 $10,786 $20,390 9 2 51 24 9 AUM $m Total $66,358 90 Source: Invesco, as at 30 April 2017. Excludes STIC Funds and PowerShares. $=USD. * Includes real estate, financial structures, and absolute return strategies. Invesco cross border funds = Invesco mutual funds domiciled in Luxembourg & Ireland. 21
Very good positioning within Cross Border peer groups Quartile ranking of Invesco funds over 3Y Quartile ranking of Invesco funds over 5Y 19% 49% 14% 2% 67% 21% 49% of all Invesco Cross Border funds are ranked 1 st quartile over 3Y 17% 67% of all Invesco Cross Border funds are ranked 1 st quartile over 5Y 11% 1. Quartile 2. Quartile 3. Quartile 4. Quartile 1. Quartile 2. Quartile 3. Quartile 4. Quartile 60% of the Invesco Funds have performed better than* others in their Morningstar peer group over 3 years 84% of the Invesco Funds have performed better than* others in their Morningstar peer group over 5 years * Better than indicates that the funds are in the top 2 quartiles of their peer group. Source: Morningstar, Performa (as of 31 March 2017). The Morningstar comparison group refers to a Europe-wide comparison group. For additional information about the rankings: www.morningstar.de. This overview includes all Invesco UCITs mutual funds and therefore the entire cross border mutual fund range (excluding three money market funds): Funds with 3Y track record: 69, funds with 5Y track record: 65. Figures may not sum due to rounding. Past performance is not a guide to future returns. Any references to awards and ratings provide no guarantee for future performance results. 22
Invesco Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 Invesco Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 Invesco s investment performance is highly competitive and well recognized Morningstar 4* and 5* ratings % of total Assets European Cross Border Funds 80% Morningstar 5* ratings % of total Assets European Cross Border Funds 70% 60% 50% 40% 30% 20% 10% 0% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 5 Stars 4 Stars 5 Stars Source: Morningstar Direct as at 31 April 2017. Offshore fund universe ex ETF and money market funds. Primary share class in base currency only. Competitors include those with a similar product range and are selected by size. Any reference to a ranking, a rating or an award provides no guarantee for future performance results and is not constant over time. Past performance is not a guide to future returns. 23
Selected Invesco Investment Teams
Fixed Interest (Henley) The team will only take risks if they expect to be rewarded Investment philosophy 1 Active: The team does not track indices and there are no minimum holding requirements at stock, sector or country level 2 3 Flexible and pragmatic: The approach to investing is informal and iterative. The funds they manage are flexible which enable the team to seek to reduce risk when they are cautious Market-driven: Opportunities are exploited both on short and longer-term basis Investment team (over 20 investment professionals) headed by award winning 1 fund managers Paul Read and Paul Causer. The team has been successfully managing bond funds for 20 years Cross border strategies managed include: Euro Corporate Bond, Pan European High Income, Global Total Return (EUR) Bond, Global Income, Global Unconstrained, Global Bond and Sterling Bond Total AUM USD 34.7bn Source: Invesco as at 31 March 2017. 1 Paul Read and Paul Causer: Morningstar 2013 European Fund Manager of the Year: European Fixed Income. 25
European Equities (Henley) Valuation-driven stock picking in a macro and market context Investment philosophy 1 The team believes that markets are inefficient and provide opportunities to buy stocks below their intrinsic value 2 3 Valuation is the key determinant of future returns: Pragmatic, flexible & high conviction Style agnostic and avoidance of momentum strategies European equities team (eight investment professionals) headed by Jeff Taylor with an average of 11 years experience with Invesco A variety of Pan European strategies managed including: Pan European Equity, Pan European Equity Income, Pan European Focus Equity, Pan European Small Cap Equity, Continental European Equity, Continental European Small Cap Equity, Eurozone Equity Total AUM USD 10.7bn Source: Invesco as at 31 March 2017. 26
Invesco Quantitative Strategies Systematic application of fundamental and behavioural insights Investment philosophy 1 Seek excess return through bottom-up stock selection built on 30 years of stock selection expertise using proven fundamental and behavioural concepts 2 3 An engineered discipline using quantitative modeling seeking to create excess returns within specified risk parameters Performance patterns that differ from those of traditional managers, e.g. in low volatility equity strategies (through volatility control) or equity market neutral portfolios (through tight long-short constraints) Source: Invesco as at 31 March 2017. 27 Well rounded team of over 40 investment professionals at five locations: Frankfurt, New York, Boston, Melbourne, Tokyo Stock selection strategies managed include: Pan European Structured Equity, Pan European Equity Long/Short, Global Structured Equity, US Structured Equity, Euro Structured Equity, Emerging Market Quantitative Equity, Global Equity Market Neutral. Moreover, multi asset strategies include Global Absolute Return and Global Conservative Total AUM > USD 34bn
Invesco Fixed Income (IFI) Key organizational strengths built around the pursuit of investment excellence Investment philosophy 1 2 3 4 Organizational strength & presence: IFI is a key part of a financially strong, pure play asset manager with a singular mission Global experienced team: A global team of experienced professionals who bring together their knowledge of local markets Balanced investment process: A structured and disciplined, yet flexible process that balances top down and bottom up decision making Performance driven culture: Performance driven culture in which employees are driven to increase the predictability and consistency of investment returns 227 professionals involved including 165 investment professionals at 10 locations: Atlanta, Chicago, New York, Louisville, San Diego, Portland, Palm Harbor, Toronto, London, Hong Kong Strategies managed include: Global High Income, Emerging Markets Bond, Emerging Market Corporate Bond, Emerging Local Currencies Debt, Euro Short Term, Euro Bond, India Bond, Bank Loans, Cash Total AUM USD 280.6bn Source: Invesco as at 31 March 2017. 28
Invesco Asia Pacific (Hong Kong) Take advantage of market inefficiencies through a bottom-up stock selection process Investment philosophy (of the Greater China Strategy) 1 2 3 4 Selective approach: Focus on bottom-up stock fundamentals (using top-down analyses to provide macro-context) and companies with sustainable industry leadership and competitive advantages Original ideas: Look for under-researched ideas and act before consensus is formed Valuation focus: Utilize a disciplined fundamental analysis driven process to evaluate fair value versus target price Long-term investment horizon: Focus on both dividend income and capital appreciation. Willing to ride through short term earning cycles The Equity Investment Team in Asia, based in Singapore, Taipei and Hong Kong, comprises 19 investment professionals with an average industry experience of 15 years. Strategies managed include: Asia Consumer Demand, Asia Infrastructure, Greater China Equity, PRC Equity, ASEAN Equity, China Focus Equity etc. Total AUM USD 28.4bn* Source: Invesco as at 31 March 2017. * Excluding Fixed Income products, Real Estate products and GQE products geographically managed in Asia Pacific. 29
Multi Asset (Henley) Unconstrained research combined with a robust risk management process Investment philosophy 1 2 Highly diversified and risk managed: The combination of a range of ideas, using both traditional assets and derivatives, enables the team to construct truly global portfolios that seek to reduce risk through real diversification Rigorous testing against extreme economic scenarios: The portfolios are rigorously tested against different historical as well as hypothetical, extreme scenarios 3 The right people and approach: The team has a wealth of experience and proven capability in running multi asset portfolios with targeted returns and also has access to the expertise of the global Invesco network Core investment team with broad multi discipline support (11 investment professionals averaging 17 years industry experience) headed by David Millar with 28 years of industry experience A team of macro specialists solely focused on the Global Targeted Returns strategy Total AUM USD 21.2bn Source: Invesco as at 31 March 2017. 30
Invesco Global Asset Allocation Quantitative multi-asset investing Investment philosophy 1 Risk Allocation and Management: Balance risk exposures to asset classes which we expect to perform relatively well in different economic scenarios such as inflationary growth, non-inflationary growth, recession 2 3 Purpose-Built Portfolios: Seeking to improve the expected Sharpe Ratio within asset classes Tactical Allocation: Seeking to improve the risk-return profile by shifting away from the strategic portfolio weights 13 investment professionals Strategies managed include: Balanced-Risk Allocation, Balanced-Risk Select, Global Markets Strategy Total AUM USD 23.4bn Source: Invesco as at 31 March 2017. 31
Invesco PowerShares Pioneer in ETFs Profile & key points 1 2 Intelligent indexing: Offering a selection of ETFs that track next generation indices. Indices that attempt to outperform markets through intelligent security selection and weighting. Liquidity and transparency: Founded in the US in 2003 on a vision of delivering investment performance through ETFs whose shares can be bought and sold on any business day. 3 A global ETF leader: 4th largest provider of ETFs by AUM. Pioneer in the Smart Beta/factor based indexing space. 4 Physical index replication of all our UCITS ETFs: Holding the underlying index securities as preferred investment methodology. Over 100 ETF-specialist professionals at five locations: Chicago, London, Munich, Paris, Dublin and Zurich Total AUM > USD 120bn Source: Invesco as at 31 March 2017. Delivery options may not be available in all countries 32
Important information This marketing document is exclusively for use by Professional Clients and Financial Advisers in Continental Europe, Qualified Investors in Switzerland and Professional Clients in Dubai, Jersey, Guernsey, Ireland, Isle of Man and the UK. This document is not for consumer use, please do not redistribute. Data as at March 31, 2017 unless otherwise stated. It is not intended for and should not be distributed to, or relied upon to the public. The information provided on the investment strategies (including current investment themes, the research and investment process, and portfolio characteristics, weightings, and allocation) represents the views of the current portfolio managers at the time this material was completed, and is subject to change without notice. This document does not form part of any prospectus. This document contains general information only and does not take into account individual objectives, taxation position or financial needs. Nor does this constitute a recommendation of the suitability of any investment strategy for a particular investor. While great care has been taken to ensure that the information contained herein is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken in reliance thereon. The value of investments and the income from them can go down as well as up (this may partly be the result of exchange rate fluctuations in investments which have an exposure to foreign currencies) and investors may not get back the amount invested. Neither Invesco Asset Management nor any Member of Invesco Ltd guarantee the return of capital, distribution of income or the performance of any fund or strategy. Past performance is not an indication of future performance provides no guarantee for the future and is not constant over time. Any reference to a ranking, a rating or an award provides no guarantee for future performance results and is not constant over time. This document is not an investment advice and invitation to subscribe for shares in a fund nor is it to be construed as an offer to buy or sell any financial instruments. As with all investments, there are associated inherent risks. This document is by way of information only. Asset management services are provided by Invesco Asset Management in accordance with appropriate local legislation and regulations. Where Invesco has expressed views and opinions, these may change. www.invescoeurope.com This document is issued in Germany by Invesco Asset Management Deutschland GmbH, An der Welle 5, D-60322 Frankfurt am Main. This document is issued in Austria by Invesco Asset Management Österreich Zweigniederlassung der Invesco Asset Management Deutschland GmbH, Rotenturmstraße 16-18, A-1010 Wien. This document is issued in Switzerland by Invesco Asset Management (Schweiz) AG, Talacker 34, CH-8001 Zurich. Issued in Dubai by Invesco Asset Management Limited PO Box 506599, DIFC Precinct Building No 4, Level 3, Office 305, Dubai, United Arab Emirates. Regulated by the Dubai Financial Services Authority. Issued in Ireland by Invesco Global Asset Management DAC, Central Quay, Riverside IV, Sir John Rogerson s Quay, Dublin 2, Ireland. Regulated in Ireland by the Central Bank of Ireland. Issued in Jersey and Guernsey by Invesco International Limited, 2nd Floor, Orviss House, 17a Queen Street, St Helier, Jersey, JE2 4WD. Regulated by the Jersey Financial Services Commission. Issued in the Isle of Man by Invesco Global Asset Management DAC, George s Quay House, 43 Townsend Street, Dublin 2, Ireland. Regulated in Ireland by the Central Bank of Ireland. Issued in the UK by Invesco Asset Management Limited, Perpetual Park, Perpetual Park Drive, Henley-on-Thames, Oxfordshire RG9 1HH, UK. Authorised and regulated by the Financial Conduct Authority. CE/UK512 2017 33
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