Invesco WS Aus Share Performance Review | News

What is the Invesco WS Aus Share fund?

The Invesco Wholesale Australian Share Fund aims to provide long-term capital growth and distributions by investing in securities listed on the Australian sharemarket. The fund uses S&P/ASX 300 Accumulation Index as the benchmark.

Invests in Australian shares listed on the Australian sharemarket.
The managers take a quantitative approach to investing in Australian shares.
Actively takes a position in Australian shares with the aim of delivering consistent returns above its benchmark.
The team distils down from a universe of stocks with a minimum market cap of A$100m to construct a final portfolio of between 60-90 stocks.

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Latest News & Updates For Invesco WS Aus Share

Invesco WS Aus Share Fund Commentary September 30, 2023

During the month of September, equity markets in Australia posted negative returns with the ASX 300 declining as the higher for longer sentiment gained momentum. Despite this, the energy sector demonstrated resilience, while real estate and information technology stocks performed poorly. Towards the end of the month, fresh highs for the US 10-year yield and rising oil prices weighed on ASX 300. The CPI figure announced in August rose to 5.2% in line with expectations, while core inflation fell to 5.5%. At the same time, retail sales increased slightly during the month of August and the unemployment rate remained steady.

In September, Momentum detracted slightly, while Value and Quality had a positive impact on performance over the month. On the other hand, stock specific effects, which are not attributable to any proprietary factor, had a negative impact.

Impact from active sector weights, which are a by-product of the multi-factor optimisation process, was positive over the month. Here, both our overweight in the Energy sector and our underweight in Property Trusts had a positive impact, while our underweight in the Consumer Staples sector contributed negatively to results.

Contributors to performance

Over September, the Australian multi-factor model performed positively. Value outperformed Quality and Momentum, but all three factors ended the month in positive territory. Within Momentum, Earnings Momentum outperformed Price Momentum. Consumer discretionary, health care and IT were the best performing sectors.

Within our Australian universe, the highest rated stocks identified by our multi-factor model outperformed the broader market, while the least attractively rated stocks underperformed.

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Product Snapshot

Performance Review
Product Overview
Peer Comparison
Product Details

Performance Review

Fund Name	Last Month ? Returns after fees in the most recent (last) month).	3 Months Return ? Returns after fees in the most recent 3 months.	1 Year Return ? Trailing 12 month returns.	3 Years Average Return ? Average Annual returns from the last 3 years.	Since Inc. Average Return ? Average (annualised) returns since inception	1 Year Std. Dev. (Annual) ? The standard deviation (or annual volatility) of the last 12 months.	3 Years Std. Dev. (Annual) ? The average standard deviation (or annual volatility) from the last 3 years.	Since Inc. Std. Dev. (Annual) ? The average standard deviation (or annual volatility) since the fund inception.	1 Year Max Drawdown ? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	3 Year Max Drawdown ? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	Since Inc. Max Drawdown ? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Invesco WS Aus Share	3.39%	8.58%	23.89%	8.41%	8.29%	10.75%	14.09%	13.73%	-3.56%	-12.92%	-50.87%

Product Overview

Fund Name	APIR Code ? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.	Structure ?	Asset Class ? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.	Asset Category ? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.	Peer Benchmark Name ? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.	Broad Market Index ? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.	FUM ? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.	Management Fee ? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.	Performance Fee ? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.	Spread ? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
Invesco WS Aus Share	CNA0811AU	Managed Funds	Domestic Equity	Australia Large Blend - Core / Style Neutral	Domestic Equity - Large Cap Neutral Index	ASX Index 200 Index	57.47 M	0.44%	0.00%	0.4%

Peer Comparison

Fund Name	Peer Index Name ? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.	12 Months Excess Return ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	Excess Return Annualised Since Inception ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	12 Months Alpha ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	Alpha Annualised Since Inception ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	12 Months Beta ? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	Beta Annualised Since Inception ? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	12 Months Tracking Error ? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	Tracking Error Since Inception ? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	12 Months Correlation ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.	Correlation Since Inception ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
Invesco WS Aus Share	Domestic Equity - Large Cap Neutral Index	3.59%	-0.63%	NA%	NA%	NA%	1.08	2.13%	2.8%	0.98	0.98

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
Invesco WS Aus Share	Yes		-	https://www.invesco.com.au/home	-

Product Due Diligence

What is Invesco WS Aus Share

Invesco WS Aus Share is an Managed Funds investment product that is benchmarked against ASX Index 200 Index and sits inside the Domestic Equity - Large Cap Neutral Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Invesco WS Aus Share has Assets Under Management of 57.47 M with a management fee of 0.44%, a performance fee of 0.00% and a buy/sell spread fee of 0.4%.

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Historical Performance Commentary

Performance Commentary - August 31, 2023

During the month of August, equity markets in Australia posted negative returns with the ASX 300 declining due to weak sector performances from utilities, consumer staples and industrials. The Reserve Bank of Australia opted to hold interest rates at 4.1% citing the fact that past increases had shown signs of cooling demand. It is now forecasting inflation falling back to target in late 2025. In addition, Australia’s unemployment rate rose by 20bps from 3.5% to 3.7%, while the Q2 year-on-year wage growth slowed to 3.6%, below estimates of 3.7%.

In August, Value detracted slightly, while Momentum and Quality had a positive impact on performance over the month. On the other hand, stock specific effects, which are not attributable to any proprietary factor, had a negative impact.

Impact from active sector weights, which are a by-product of the multi-factor optimisation process, was positive over the month. Here, both our overweight in the Energy sector and our underweight on the Health Care sector had a positive impact, while our underweight on the Gold sector contributed negatively to results.

Contributors to performance

Over August, the Australian multi-factor model posted positive results, with Quality, Momentum and Value ending the month in positive territory. All three factors showed a constant positive performance over the whole month. Among the factors, Quality was the strongest in the model.

Within our Australian universe, the highest rated stocks identified by our multi-factor model outperformed the broader market, while the least attractively rated stocks underperformed.

Performance Commentary - July 31, 2023

Performance Commentary - June 30, 2023

Performance Commentary - April 30, 2023

Performance Commentary - March 31, 2023

Performance Commentary - February 28, 2023

Performance Commentary - January 31, 2023

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Invesco WS Aus Share (CNA0811AU) Report & Performance