VSLAX
Invesco Senior Loan Fund
A full-cycle, advisor-focused private credit solution.
The Invesco Dynamic Credit Opportunity Fund (DCO) is a full-cycle private credit solution that seeks to deliver yields in excess of public markets and total returns through a streamlined investment experience for wealth advisors and their clients. The fund employs an all-weather strategy by dynamically allocating across direct lending, opportunistic credit, broadly syndicated loans, and structured credit; and is backed by 35+ years of investment expertise and a $49 billion private credit platform.1
Seeks enhanced income, relative to public markets, and total return potential by dynamically allocating across direct lending, opportunistic credit, broadly syndicated loans, and structured credit.
The fund benefits from the Invesco Private Credit platform, one of the largest global managers of senior loans with dedicated, multi-decade expertise.
Interval structure allows for daily, ticker-based purchases and quarterly liquidity; while the Fund offers a single manager access point to diversified private credit exposure.
Get timely answers to important questions regarding this product.
Continuously offered interval funds are SEC-registered investment companies that can be purchased daily via ticker like an open-end mutual fund. To provide some liquidity to Shareholders, XCRTX makes quarterly offers to repurchase between 5-25% (typically 5%) of the fund’s outstanding shares, as authorized by the fund’s board.
The fund invests in a mix of private credit sectors including direct lending, broadly syndicated loans, opportunistic credit and structured credit.
The fund seeks enhanced income, total return, and diversification by investing across direct lending, opportunistic credit, broadly syndicated loans, and structured credit. We believe these outcomes can be better achieved by dynamically allocating across these private credit strategies throughout the cycle relative to investing in the strategies on a standalone basis.
The following share classes are offered for this fund: Class A, Class R6, Class Y.
To learn more about our fixed income offerings, explore the funds below.
VSLAX
Invesco Senior Loan Fund
AFRAX
Invesco Floating Rate ESG Fund
The Fund is a non-diversified, closed-end interval fund that seeks a high level of current income, with a secondary objective of capital appreciation.
Source: Invesco, as of January 31, 2025
ABOUT RISK
NA4295488
Not all share classes are available to all investors. Please see the prospectus for more information.
The Fund is a closed-end management investment company that is operated as an interval fund, and should be considered a speculative, long-term investment of limited liquidity that entails substantial risks, and you should only invest in the Fund if you can sustain a complete loss of your investment. As a result, you may receive little or no return on your investment or may lose part or all of your investment.
The Fund is suitable only for investors who can bear the risks associated with the Fund's limited liquidity. The Fund does not currently intend to list its Shares for trading on any national securities exchange. The Shares are, therefore, not readily marketable and no market is expected to develop. Liquidity for the Shares will be provided only through quarterly repurchase offers between 5% and 25% of the Shares at NAV, and there's no guarantee that you will be able to sell all of the Shares you desire to sell in the repurchase offer. As a result, you should consider an investment in the Fund to be of limited liquidity.
There is no assurance that annual distributions paid by the Fund will be maintained at the targeted level or that dividends will be paid at all. Although the Fund does not intend to use offering proceeds to fund distributions, the Fund's distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available to the Fund for investment. Any capital returned to Shareholders through distributions will be distributed after payment of fees and expenses.
Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
There are risks associated with borrowing or issuing preferred shares, including that the costs of the financial leverage exceed the income from investments made with such leverage, the higher volatility of the net asset value of the common shares, and that fluctuations in the interest rates on the borrowing or dividend rates on preferred shares may affect the yield and distributions to the common shareholders. Use of leverage also may impair the fund's ability to maintain its qualification for federal income taxes as a regulated investment company.
The risks of investing in securities of foreign issuers, including emerging markets, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Junk bonds involve a greater risk of default or price changes due to changes in the issuer’s credit quality. The values of junk bonds fluctuate more than those of high-quality bonds and can decline significantly over short time periods.
Leverage created from borrowing or certain types of transactions or instruments may impair the fund’s liquidity, cause it to liquidate positions at an unfavorable time or lose more than it invested, increase volatility or otherwise not achieve its intended objective.
The fund is a closed-end investment company designed primarily for long-term investors and not as a trading vehicle. While there is no restriction on transferring the shares, the fund does not intend to list the shares for trading on any national securities exchange. There is no secondary trading market for shares. An investment in the shares is illiquid. There is no guarantee that you will be able to sell all of the shares that you desire to sell in any repurchase offer by the fund.
There is less readily available, reliable information about most senior loans than there is for many other types of securities. In addition, there is no minimum rating or other independent evaluation of a borrower or its securities limiting the fund's investments, and the adviser relies primarily on its own evaluation of borrower credit quality rather than on any available independent sources.
Senior Loans, like most other debt obligations, are subject to the risk of default. Default in the payment of interest or principal on a Senior Loan will result in a reduction in income to the Fund, a reduction in the value of the Senior Loan and a potential decrease in the Fund’s net asset value. The risk of default will increase in the event of an economic downturn or a substantial increase in interest rates.
The fund is subject to certain other risks. Please see the current prospectus for more information regarding the risks associated with an investment in the fund.
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