Invesco ICVC China Equity (UK) Class Z Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/05/20 to 31/05/21 |
31/05/21 to 31/05/22 |
31/05/22 to 31/05/23 |
31/05/23 to 31/05/24 |
31/05/24 to 31/05/25 |
|
|---|---|---|---|---|---|
| Fund | 13.1% | -25.6% | -11.6% | -1.3% | 12.4% |
| Sector | 32.1% | -23.2% | -16.2% | -4.0% | 9.3% |
| Rank | 48/51 | 24/55 | 11/58 | 30/61 | 28/61 |
| Quartile | 4 | 2 | 1 | 2 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/05/25 |
5 Years to 31/05/25 |
10 Years to 31/05/25 |
||
| Fund | -0.6% | -3.8% | 3.2% | |
| Sector | -4.2% | -2.3% | 2.4% | |
| Rank | 15/58 | 39/51 | 11/38 | |
| Quartile | 1 | 4 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TENCENT HOLDINGS LIMITED | 9.92 |
| ALIBABA GROUP HOLDING LIMITED | 8.91 |
| XIAOMI CORPORATION | 5.94 |
| CHINA CONSTRUCTION BANK CORPORATION | 5.85 |
| Invesco Sterling Liquidity Agency Class | 5.57 |
| MEITUAN | 3.42 |
| BANK OF CHINA LIMITED | 3.19 |
| NETEASE INC | 3.02 |
| JD.COM | 2.70 |
| PDD HOLDINGS INC | 2.67 |
| Total | 51.18 |
Fund Aims
The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be largely obtained through investment in securities traded on Hong Kong exchanges and other markets. The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, reducing costs and/or generating additional capital or income. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be accessed by investing in securities listed on Hong Kong and other relevant exchanges and China A shares listed on the Shanghai and Shenzhen Stock Exchanges via Stock Connect. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non-Chinese companies), money market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income.
Fund Manager
TBC
Lorraine Kuo joined Invesco in September 2011 as a fund manager. She is responsible for stock research and analysis in the Greater China markets.
Previously, Lorraine spent six years as a sell-side analyst in Deutsche Bank, covering chemical and cement sectors in Taiwan from 2004 to 2008 and the technology sector in China during 2010-2011. Lorraine was an investment analyst with Manulife Asset Management (HK) Ltd between 2008 and 2010 where she was responsible for stock research and recommendations for the Taiwanese and Korean markets. She also had experience in the banking industry and worked as a credit analyst at Credit Lyonnais Taipei for two years.
Fund Overview
| Mid (20/06/2025) | 463.90p |
| Historic yield | 1.85% |
| Fund size (30/04/2025) | £145.57m |
| Number of holdings | 89 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.89% |
| Launch date | 11/12/2012 |
Asset Allocation
| International Equities | 92.50% | |
| UK Equities | 1.13% | |
| Alternative Trading Strategies | 0.14% | |
| Other Assets | 6.23% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 92.50% | |
| UK Equities | 1.13% | |
| Alternative Trading Strategies | 0.14% | |
| Other Assets | 6.23% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 25.08% | - | - | - | |
| Technology | - | 25.08% | - | - | |
| Software & Computer Services | - | - | 17.50% | - | |
| Consumer Digital Services | - | - | - | 17.50% | |
| Technology Hardware & Equipment | - | - | 7.58% | - | |
| Semiconductors | - | - | - | 3.42% | |
| Electronic Components | - | - | - | 1.99% | |
| Computer Hardware | - | - | - | 1.14% | |
| Production Technology Equipment | - | - | - | 1.03% | |
| Consumer Discretionary | 23.99% | - | - | - | |
| Retail | - | 12.82% | - | - | |
| Retailers | - | - | 12.82% | - | |
| Diversified Retailers | - | - | - | 12.18% | |
| Specialty Retailers | - | - | - | 0.39% | |
| Apparel Retailers | - | - | - | 0.25% | |
| Consumer Products & Services | - | 4.96% | - | - | |
| Leisure Goods | - | - | 3.15% | - | |
| Electronic Entertainment | - | - | - | 3.02% | |
| Consumer Electronics | - | - | - | 0.13% | |
| Personal Goods | - | - | 1.23% | - | |
| Clothing & Accessories | - | - | - | 1.23% | |
| Consumer Services | - | - | 0.58% | - | |
| Education Services | - | - | - | 0.58% | |
| Travel & Leisure | - | 3.23% | - | - | |
| Travel & Leisure | - | - | 3.23% | - | |
| Travel & Tourism | - | - | - | 1.64% | |
| Restaurants & Bars | - | - | - | 1.59% | |
| Automobiles & Parts | - | 2.99% | - | - | |
| Automobiles & Parts | - | - | 2.99% | - | |
| Automobiles | - | - | - | 2.99% | |
| Financials | 18.69% | - | - | - | |
| Banks | - | 13.17% | - | - | |
| Banks | - | - | 13.17% | - | |
| Banks | - | - | - | 13.17% | |
| Insurance | - | 4.01% | - | - | |
| Life Insurance | - | - | 2.58% | - | |
| Life Insurance | - | - | - | 2.58% | |
| Non-life Insurance | - | - | 1.44% | - | |
| Property & Casualty Insurance | - | - | - | 1.44% | |
| Financial Services | - | 1.52% | - | - | |
| Investment Banking & Brokerage Services | - | - | 1.52% | - | |
| Investment Services | - | - | - | 1.52% | |
| Telecommunications | 6.24% | - | - | - | |
| Telecommunications | - | 6.24% | - | - | |
| Telecommunications Equipment | - | - | 6.24% | - | |
| Telecommunications Equipment | - | - | - | 6.24% | |
| Non-Classified | 6.23% | - | - | - | |
| Non-Classified | - | 5.57% | - | - | |
| Non-Classified | - | - | 5.57% | - | |
| Non-Classified | - | - | - | 5.57% | |
| Consumer Staples | 4.87% | - | - | - | |
| Food, Beverage & Tobacco | - | 2.60% | - | - | |
| Beverages | - | - | 1.68% | - | |
| Brewers | - | - | - | 0.73% | |
| Distillers & Vintners | - | - | - | 0.52% | |
| Soft Drinks | - | - | - | 0.44% | |
| Food Producers | - | - | 0.92% | - | |
| Food Products | - | - | - | 0.92% | |
| Personal Care, Drug & Grocery Stores | - | 2.27% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 2.27% | - | |
| Personal Products | - | - | - | 2.27% | |
| Industrials | 3.79% | - | - | - | |
| Industrial Goods & Services | - | 3.30% | - | - | |
| Industrial Engineering | - | - | 1.63% | - | |
| Machinery: Industrial | - | - | - | 0.96% | |
| Machinery: Engines | - | - | - | 0.67% | |
| Industrial Transportation | - | - | 0.63% | - | |
| Marine Transportation | - | - | - | 0.38% | |
| Transportation Services | - | - | - | 0.25% | |
| General Industrials | - | - | 0.51% | - | |
| Glass | - | - | - | 0.51% | |
| Industrial Support Services | - | - | 0.31% | - | |
| Business Training & Employment Agencies | - | - | - | 0.31% | |
| Electronic & Electrical Equipment | - | - | 0.21% | - | |
| Electronic Equipment: Other | - | - | - | 0.21% | |
| Construction & Materials | - | 0.49% | - | - | |
| Construction & Materials | - | - | 0.49% | - | |
| Cement | - | - | - | 0.27% | |
| Building, Roofing/Wallboard & Plumbing | - | - | - | 0.22% | |
| Basic Materials | 2.68% | - | - | - | |
| Basic Resources | - | 2.68% | - | - | |
| Precious Metals & Mining | - | - | 2.29% | - | |
| Gold Mining | - | - | - | 2.29% | |
| Industrial Metals & Mining | - | - | 0.39% | - | |
| Aluminum | - | - | - | 0.21% | |
| Iron & Steel | - | - | - | 0.19% | |
| Health Care | 2.48% | - | - | - | |
| Health Care | - | 2.48% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 1.96% | - | |
| Biotechnology | - | - | - | 1.69% | |
| Pharmaceuticals | - | - | - | 0.27% | |
| Medical Equipment & Services | - | - | 0.53% | - | |
| Medical Supplies | - | - | - | 0.34% | |
| Medical Equipment | - | - | - | 0.19% | |
| Utilities | 2.15% | - | - | - | |
| Utilities | - | 2.15% | - | - | |
| Gas, Water & Multi-utilities | - | - | 1.12% | - | |
| Gas Distribution | - | - | - | 0.61% | |
| Water | - | - | - | 0.50% | |
| Electricity | - | - | 1.04% | - | |
| Alternative Electricity | - | - | - | 1.04% | |
| Energy | 2.03% | - | - | - | |
| Energy | - | 2.03% | - | - | |
| Non-Renewable Energy | - | - | 1.88% | - | |
| Integrated Oil & Gas | - | - | - | 1.19% | |
| Oil Equipment & Services | - | - | - | 0.49% | |
| Oil Refining and Marketing | - | - | - | 0.19% | |
| Renewable Energy | - | - | 0.15% | - | |
| Renewable Energy Equipment | - | - | - | 0.15% | |
| Real Estate | 1.62% | - | - | - | |
| Real Estate | - | 1.62% | - | - | |
| Real Estate Investment & Services | - | - | 1.62% | - | |
| Real Estate Services | - | - | - | 0.93% | |
| Real Estate Holding and Development | - | - | - | 0.69% | |
| Alternative Trading Strategies | 0.14% | - | - | - | |
| Alternative Trading Strategies | - | 0.14% | - | - | |
| Alternative Trading Strategies | - | - | 0.14% | - | |
| Alternative Trading Strategies | - | - | - | 0.14% | |
Regional Allocation
| Emerging Asia | 76.13% | |
| Developed Asia | 7.62% | |
| Non-Classified | 10.97% | |
| North America | 4.15% | |
| UK | 1.13% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.86% | |
| Pound Sterling | 0.14% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Emerging Asia | 76.13% | - | |
China
|
- | 73.10% | |
Taiwan
|
- | 3.03% | |
| Developed Asia | 7.62% | - | |
Hong Kong
|
- | 7.62% | |
| Non-Classified | 10.97% | - | |
| North America | 4.15% | - | |
United States
|
- | 4.15% | |
| UK | 1.13% | - | |
United Kingdom
|
- | 1.13% | |
Breakdown By Market Cap (%)
| Mega |
|
53.04% |
| Large |
|
15.84% |
| Medium |
|
6.39% |
| Non-Classified |
|
24.72% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TENCENT HOLDINGS LIMITED | 9.92% | Software & Computer Services | China |
| 2 | ALIBABA GROUP HOLDING LIMITED | 8.91% | Retailers | China |
| 3 | XIAOMI CORPORATION | 5.94% | Telecommunications Equipment | China |
| 4 | CHINA CONSTRUCTION BANK CORPORATION | 5.85% | Banks | China |
| 5 | Invesco Sterling Liquidity Agency Class | 5.57% | Managed Funds | Non-Classified |
| 6 | MEITUAN | 3.42% | Software & Computer Services | China |
| 7 | BANK OF CHINA LIMITED | 3.19% | Banks | China |
| 8 | NETEASE INC | 3.02% | Leisure Goods | China |
| 9 | JD.COM | 2.70% | Retailers | China |
| 10 | PDD HOLDINGS INC | 2.67% | Software & Computer Services | China |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 25.08% | - | - | - | - | - | - | 25.08% |
| Telecommunications | - | 6.24% | - | - | - | - | - | - | 6.24% |
| Financials | 1.13% | 17.56% | - | - | - | - | - | - | 18.69% |
| Real Estate | - | 1.62% | - | - | - | - | - | - | 1.62% |
| Consumer Discretionary | - | 23.99% | - | - | - | - | - | - | 23.99% |
| Consumer Staples | - | 4.87% | - | - | - | - | - | - | 4.87% |
| Energy | - | 2.03% | - | - | - | - | - | - | 2.03% |
| Utilities | - | 2.15% | - | - | - | - | - | - | 2.15% |
| Health Care | - | 2.48% | - | - | - | - | - | - | 2.48% |
| Industrials | - | 3.79% | - | - | - | - | 0.66% | - | 4.45% |
| Basic Materials | - | 2.68% | - | - | - | - | - | - | 2.68% |
| Non-Classified | - | - | - | - | - | - | 5.71% | - | 5.71% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B8N44V3 |
| Mex Code | BRGAAQ |
| Isin Code | GB00B8N44V30 |
| Citi Code | GUVK |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.89% |
Aims and Benchmark
| Aims | The Fund aims to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be largely obtained through investment in securities traded on Hong Kong exchanges and other markets. The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, reducing costs and/or generating additional capital or income. The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be accessed by investing in securities listed on Hong Kong and other relevant exchanges and China A shares listed on the Shanghai and Shenzhen Stock Exchanges via Stock Connect. In pursuing the Fund’s investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including non-Chinese companies), money market instruments, collective investment schemes (including funds managed by the Invesco group), deposits and cash. Derivatives use: The Fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. |
| Benchmark | MSCI China 10/40 Index GBP (Net Total Return) |
| Benchmark Category | - |
| IA Sector | China/Greater China |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | No income |
| Distribution Payment Basis | Net |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Citibank |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Bank of New York Mellon (International) Limited |
Group Details
| Group name | Invesco ICVC |
| Group address | INVESCO Park Henley-on-Thames Oxfordshire RG9 1HH United Kingdom |
| Group telephone | 0800 028 2121 |
| Dealing telephone | 0800 085 8571 |
| Sally.Elsbury@Invesco.com | |
| Homepage | https://www.invesco.co.uk/uk |
| Fax number | 01491 416000 |
Dealing
| Minimum Investment | £500 |
| Minimum Top Up | £100 |
| Minimum Regular Saving | £20 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.