UK Equities

* The UK Enhanced Index Fund (UK) is not managed by the UK Team.

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

ICVCs

The funds may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the fund. The Manager, however, will ensure that the use of derivatives within the fund does not materially alter the overall risk profile of the fund. In the case of the Invesco Sustainable UK Companies Fund (UK), such derivatives may not be aligned with the Fund’s ESG screening criteria.

The Invesco UK Opportunities Fund (UK) typically has a concentrated number of holdings, it may carry a higher degree of risk than a fund which invests in a broader range of holdings or takes smaller positions in a relatively large number of holdings.

The Invesco UK Smaller Companies Equity Fund (UK), Invesco Income & Growth Fund (UK), Invesco UK Equity Income Fund (UK) and Invesco UK Equity High Income Fund (UK) invest in smaller companies which may result in a higher level of risk than a fund that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.

The Invesco UK Equity High Income Fund (UK) and Invesco UK Equity Income Fund (UK) may invest in private and unlisted equities which may involve additional risks such as lack of liquidity and concentrated ownership. These investments may result in greater fluctuations of the value of the fund. The Manager, however, will ensure that any investments in private and unlisted equities do not materially alter the overall risk profile of the fund.

As one of the key objectives of the Invesco UK Equity High Income Fund (UK), Invesco UK Equity Income Fund (UK) and Invesco Income & Growth Fund (UK) funds is to provide income, the ongoing charge is taken from capital rather than income. This can erode capital and reduce the potential for capital growth.

The use of ESG criteria may affect the investment performance and the Invesco Sustainable UK Companies Fund (UK). As such, it may perform differently to similar products that do not screen investment opportunities against ESG criteria.

Investment trust

The use of borrowings may increase the volatility of the NAV and may reduce returns when asset values fall.

The products use derivatives for efficient portfolio management which may result in increased volatility in the NAV.

The products invest in smaller companies which may result in a higher level of risk than a product that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.

Pension funds

Investing in equity securities involves risks associated with the unpredictable drops in a stock’s value or periods of below-average performance in a given stock or in the stock market as a whole. Share prices on equity markets may fluctuate. Such fluctuations, or volatility, have historically been much greater for equity markets than the volatility of fixed income markets.

The UK Equities Pension Fund and the Invesco UK Smaller Companies Equity Pension Fund invest in smaller companies which may result in a higher level of risk than a fund that invests in larger companies. Securities of smaller companies may be subject to abrupt price movements and may be less liquid, which may mean they are not easy to buy or sell.

Please note the following when investing in the UK Smaller Companies Equity Pension Fund. Where a fund invests across a range of funds with a view to diversifying risk and potential returns, each of these underlying funds may have specific risks. Examples include: emerging market funds, smaller company funds and concentrated funds.

Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.

For the most up to date information on our ICVC funds, please refer to the relevant fund and share class-specific Key Investor Information Documents, the Supplementary Information Document, the Annual or Interim Reports and the Prospectus, which are available using the contact details shown.

For more information on our SICAV funds, please refer to the most up to date relevant fund and share class-specific Key Investor Information Documents, the latest Annual or Interim Reports and the latest Prospectus, and constituent documents, available from www.invesco.eu. A summary of investor rights is available in English from www.invescomanagementcompany.lu. The management company may terminate marketing arrangements. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. As with all investments, there are associated risks. This document is by way of information only. Asset management services are provided by Invesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictions where its promotion and sale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not all share classes are the same nor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependent on share class chosen. Please check the most recent version of the fund prospectus in relation to the criteria for the individual share classes and contact your local Invesco office for full details of the fund registration status in your jurisdiction. The Invesco UK Equity Fund is domiciled in Luxembourg. For the purposes of UK law, the fund is a recognised scheme under section 264 of the Financial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do not apply to offshore investments.

For more information on the pension funds, please refer to the most up-to-date Invesco Trustee Investment Plan Brochure and Key Features Document, and to the fund’s Key Information Document. These documents are available on the Invesco Pensions Website: www.invesco.co.uk/pensions.

For more information on our investment trust, please refer to the relevant Key Information Document (KID), Alternative Investment Fund Managers Directive document (AIFMD), and the latest Annual or Half-Yearly Financial Reports. This information is available using the contact details shown.

This material should not be considered financial advice. Persons interested in acquiring the products should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences.

Issued by Invesco Pensions Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority