Summary

• Invesco EQV International Equity Fund trailed the index primarily due to stock selection in financials and industrials.
• Global equities had a volatile first quarter as renewed tariff measures, concerns about technology spending and geopolitical escalation in the Middle East appeared to shift investor focus from growth to inflation risks.
• Stock selection in financials and industrials, along with an underweight and stock selection in energy, detracted the most from relative return.

Key takeaways

1 The fund underperformed its benchmark

Both the fund's Class A shares and the MSCI ACWI ex USA Index declined for the quarter. The fund trailed the index primarily due to stock selection