Municipal bonds

Mark Paris:

Municipal bonds can be appealing options for a wide range of investors, especially those looking for tax-exempt income, but not all municipal bond managers are created equal. Here are three reasons to partner with Invesco for your municipal bond needs.

First, we offer a broad suite of municipal bond strategies from short-term high-grade portfolios to long-term high-yield strategies and everything in between. We offer potential solutions for a variety of investor needs, and you can access these strategies through mutual funds, ETFs, and separately managed accounts.
 

Second, we have an expert team with access to unique opportunities. Our municipal credit analysts average more than 20 years of experience, making them some of the industry's most seasoned analysts. They use a bottom-up in-depth credit research process. Every bond is thoroughly vetted and receives an internal rating before making it into one of our portfolios. Our portfolio managers make informed investment decisions by combining experience-based knowledge with market trends to discover attractive relative value opportunities.
 

Our size is another advantage. We're one of the five largest municipal bond managers by assets, a position that allows us the ability to access preferred market opportunities and gain valuable market insight. As a result, we tend to be a first call to over 120 national and regional municipal bond dealers.
 

These established relationships allow us to achieve superior execution in our daily transactions. This value-oriented combination of proprietary research and integrated risk management allows us to create highly diversified portfolios that aim to maximize risk adjusted returns.
 

Third, we're here to enhance your total client experience. Helping your clients generate competitive tax-exempt income through municipal bonds is just one way we can strengthen your total client experience. At Invesco, we're committed to helping you connect with your clients, enhance your business, and optimize your portfolios through our full suite of solutions across asset classes. Let's start the conversation today. Reach out to your Invesco representative to learn more about Invesco's municipal bond solutions.

This information is intended for US residents.
 

This should not be considered a recommendation to purchase any investment product.
 

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.
 

This does not constitute a recommendation of any investment strategy for a particular investor. There is no guarantee these strategies will be able to meet their objectives. Past performance cannot guarantee future comparable results.
 

Before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in the prospectus at invesco.com.
 

Invesco Distributors, Inc. 02/23

• Tax efficiency is vital in any asset class—but especially in fixed income. The income stream your clients want can have major tax implications.
• Separately managed accounts not only give you the ability to manage your clients’ tax exposure, they can also help you manage clients’ liquidity needs and customize their portfolios to align with their personal values.
• But not all SMA providers are alike. Here are three reasons to partner with Invesco for fixed income SMAs.
• First: We offer a full suite of choices. Our Custom SMAs are available across the duration spectrum and provide access to corporates, Treasuries, agencies, municipal bonds, preferred securities, and more.
• Second: We leverage the resources and credit expertise of Invesco’s global fixed income platform. We deliver Invesco’s investment ideas to your clients through thoughtfully constructed and carefully monitored SMAs. Our portfolios are powered by sophisticated tax optimization techniques designed to generate tax alpha and enhance your clients’ after-tax returns.
• Third: We provide the total client experience. We partner with you during every step of the process. From selecting the right strategy for each client to determining the most tax-efficient way to make the transition to a Custom SMA. And our dedicated SMA client service team provides you with transparency into trading decisions and adapts the portfolio to stay aligned with your client’s evolving needs and priorities.
• We’re passionate about helping investors unlock the power of customization for their fixed income portfolios.
• We invite you to learn more about our Custom SMA platform and our high-touch service model.
• Let’s start the conversation today! Please reach out to your Invesco representative to discover more about Custom SMAs by Invesco.

FOR INSTITUTIONAL USE ONLY — NOT FOR FURTHER DISTRIBUTION

This information is intended for US residents.

All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. This is not to be construed as an offer to buy or sell any financial instruments and should not be relied upon as the sole factor in an investment-making decision. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.

This should not be considered a recommendation to purchase any investment product.

Invesco does not provide tax or legal advice, and the information contained herein should only be used in consultation with your legal, accounting and tax advisors.

Fixed-income investments are subject to credit risk of the issuer and the effects of changing interest rates.

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.

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

This does not constitute a recommendation of any investment strategy for a particular investor. There is no guarantee these strategies will be able to meet their objectives. Past performance cannot guarantee future comparable results.

Invesco Managed Accounts, LLC is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. It is an indirect, wholly owned subsidiary of Invesco Ltd. The Investment Advisers Act of 1940 requires investment advisory firms, such as Invesco Managed Accounts, LLC, to file and keep current with the Securities and Exchange Commission a registration statement of Form ADV. Part II of Form ADV contains information about the background and business practices of Invesco Managed Accounts, LLC. Under the Commission’s rules, we are required to offer to make available annually Part II of Form ADV to our clients along with our privacy policy.

Accordingly, if you would like to receive a copy of this material, please write to: Custom SMAs by Invesco, Attn: Client Services, 2001 6th Ave., Suite 2310, Seattle, WA 98121.

Invesco Advisers, Inc.     <<new form code>>      02/23      NA2704656

• ETFs are fast-becoming a go-to tool for fixed income investors who are focused on fees, taxes, transparency, and liquidity.
• And the growing universe of fixed income ETFs gives investors more options for accessing bond markets.
• But not all ETF providers offer the solutions investors may need for their income-generation and risk-management goals.
• Here are three reasons to consider Invesco for your fixed income ETFs.

• First, our broad suite of fixed income ETFs helps investors accomplish a diverse set of objectives.
• We offer both index-based and actively managed fixed income ETFs, giving investors multiple ways to seek additional income and access diverse sources of return potential across the credit risk spectrum and capital structure.
• Whether you’re focused on reducing your portfolio’s sensitivity to changing interest rates, enhancing your after-tax yield potential, accessing alpha1 drivers that are missing from aggregate bond indexes, or looking for a cost-effective, convenient way to build bond ladders, our fixed income ETF lineup has what you’re looking for.
  
  
• Second, our ETFs are powered by our experience as an ETF leader and pioneer.
• We have been in the ETF business for more than 2 decades, and most of our fixed income ETFs have track records of more than five years.
• This allows investors to potentially benefit from our experience navigating the complexity of fixed income markets through the ETF structure.
  
  
• Third, our ETFs are backed by the resources of our global fixed income platform.
• The insights that fuel our fixed income ETFs come from our knowledge of bond markets around the world and our extensive global macro and credit research capabilities.
• We invite you to explore our lineup of fixed income ETFs.
  
• And if you’re interested in learning more about how ETFs can bring efficiency, transparency, liquidity, and flexibility to your fixed income portfolio, please reach out to your Invesco representative.

1) Alpha – Excess returns earned on an investment above the benchmark return.

About Risk:

There are risks involved with investing in ETFs, including possible loss of money. Index-based ETFs are not actively managed. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Both index-based and actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The funds’ return may not match the return of the index. The funds are subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the funds.

Investments focused in a particular industry or sector, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investment.

ETFs disclose their full portfolio holdings daily.

An investment cannot be made in an index.

Invesco does not provide tax advice. Investors should always consult their own legal or tax professional for information concerning their individual situation.

ETF Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 75,000, 80,000, 100,000, 150,000 or 200,000 Shares.

Not a Deposit  |  Not FDIC Insured  |  Not Guaranteed by the Bank  |  May Lose Value  |  Not Insured by any Federal Government Agency

Before investing, investors should carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the fund(s), investors should ask their financial professional for a prospectus/summary prospectus or visit invesco.com/fundprospectus.

invesco/us.com       800 983 0903   01/23     NA-2700385                Invesco Distributors, Inc.