invesco trust series interim report for sep 2019632d0690-3800-4...the trust is an umbrella fund with...

Invesco Invesco Invesco Invesco Trust SeriesTrust SeriesTrust SeriesTrust Series

Interim Report

For the six months ended For the six months ended For the six months ended For the six months ended 33330 September 200 September 200 September 200 September 2020202020 (U(U(U(Unaudited)naudited)naudited)naudited)

IIIInvesconvesconvesconvesco TTTTrustrustrustrust SSSSerieserieserieseries

- 1 -

ContentsContentsContentsContents Description of the Trust 2 Manager’s Report 3 – 6 Performance Table 7 - 9 Schedule of Investments and Movement of Portfolio Investments 10 – 31

Statement of Financial Position 32 - 34

Distributions 35 – 42 Information for Unitholders 43 Management and Administration 44


- 2 -

Description of the Description of the Description of the Description of the TrustTrustTrustTrust Invesco Trust Series (the “Trust”) is a unit trust established as an umbrella fund under the laws of the Hong Kong by a trust deed dated 30 June 2015, as amended by seven supplemental deeds dated 13 February 2018, 18 September 2018, 14 June 2019, 15 August 2019, 26 September 2019, 18 December 2019 and 18 December 2019 respectively, as further amended and restated by way of a supplemental deed dated 31 December 2019, and further amended and supplemented by six supplemental deeds dated 17 June 2020. (collectively the “Trust Deed”) and managed by Invesco Hong Kong Limited (the “Manager”). The Trust and the Sub-Funds have been authorised by the Securities and Futures Commission of Hong Kong under section 104(1) of the Hong Kong Securities and Futures Ordinance and are required to comply with the Code on Unit Trusts and Mutual Funds issued by the Securities and Futures Commission of Hong Kong. The Trust is an umbrella fund with one or more sub-funds. Each sub-fund will have its own separate and distinct investment policy. As at 30 September 2020, the Trust has ten sub-funds Invesco Belt and Road Bond Fund (Launched on 1 Mar 2018), Invesco Global Multi Income Allocation Fund (Launched on 2 Oct 2018), Invesco Global Bond Fixed Maturity Fund 2022 (Launched on 29 July 2019), Invesco Global Bond Fixed Maturity Fund 2022 - II (Launched on 9 September 2019), Invesco Asian Bond Fixed Maturity Fund 2022 (Launched on 28 October 2019), Invesco Asian Bond Fixed Maturity Fund 2022 - II (Launched on 20 January 2020) Invesco Asian Bond Fixed Maturity Fund 2022 - III (Launched on 24 February 2020), Invesco Asian Bond Fixed Maturity Fund 2021 - I (Launched on 21 July 2020) (the “Sub-Funds”), Invesco Asian Bond Fixed Maturity Fund 2021 - II (Launched on 27 August 2020), the First Semi-Annual Accounting Date of the Sub-Fund is 30 September 2021 and Invesco Asian Bond Fixed Maturity Fund 2021 - III (Launched on 28 September 2020), the First Semi-Annual Accounting Date of the Sub-fund is 30 September 2021. Invesco Belt And Road Bond FundInvesco Belt And Road Bond FundInvesco Belt And Road Bond FundInvesco Belt And Road Bond Fund The sub-fund is a thematic product which aims to achieve long term total returns in terms of both income and capital growth by investing primarily in debt securities whose issuers, guarantors and/or domiciled countries could or would directly or indirectly benefit from China’s Belt and Road vision of increasing land and sea paths to connect Asia, Europe, Middle East and Africa and their adjacent seas (the “Belt and Road Region”) for closer economic co-operation (the “Belt and Road Initiative”). Invesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation Fund The sub-fund seeks to primarily generate income with a secondary objective of generating growth of capital. The sub-fund gains exposure to global fixed income and global equity securities by investing directly into markets and/or through investments in exchange traded funds (“ETFs”) or collective investment schemes (collectively, “Underlying Schemes”). The sub-fund will also gain exposure indirectly through investments in Underlying Schemes to other asset classes including, but not limited to, Real Estate Investment Trusts (“REITS”), private equity, hedge fund strategies and commodities. Invesco Global Bond Fixed MaturiInvesco Global Bond Fixed MaturiInvesco Global Bond Fixed MaturiInvesco Global Bond Fixed Maturity Fund 2022ty Fund 2022ty Fund 2022ty Fund 2022 The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-hold portfolio of USD denominated global fixed income instruments with active risk monitoring and primarily investing in Investment Grade fixed income instruments over a fixed investment period of 2.5 years from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below). The above details are in summary form only and must be read in conjunction with the detailed information contained in the current prospectus.


- 3 -

Description of the Trust Description of the Trust Description of the Trust Description of the Trust (Continued)(Continued)(Continued)(Continued) Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022----IIIIIIII

The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-hold portfolio of USD denominated global fixed income instruments with active risk monitoring and primarily investing in Investment Grade fixed income instruments over a fixed investment period of 2.5 years from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below).

Invesco Asian Bond FixeInvesco Asian Bond FixeInvesco Asian Bond FixeInvesco Asian Bond Fixed Maturity Fund 2022d Maturity Fund 2022d Maturity Fund 2022d Maturity Fund 2022 The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-hold portfolio of USD denominated fixed income instruments with active risk monitoring and primarily investing in Investment Grade fixed income instruments over a fixed investment period of 2.5 years from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below). Invesco Asian Bond FixeInvesco Asian Bond FixeInvesco Asian Bond FixeInvesco Asian Bond Fixed Maturity Fund 2022 d Maturity Fund 2022 d Maturity Fund 2022 d Maturity Fund 2022 ---- IIIIIIII The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-hold portfolio of USD denominated fixed income instruments with active risk monitoring and primarily investing in Investment Grade fixed income instruments over a fixed investment period of 2.5 years from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below). Invesco Asian Bond Fixed Maturity Fund 2022 Invesco Asian Bond Fixed Maturity Fund 2022 Invesco Asian Bond Fixed Maturity Fund 2022 Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-hold portfolio of USD denominated fixed income instruments with active risk monitoring and primarily investing in Investment Grade fixed income instruments over a fixed investment period of 2.5 years from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below). Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII The Sub-Fund aims to generate income throughout the investment period and return the initial investment capital upon maturity (for the avoidance of doubt, the Sub-Fund is not a guarantee or capital-protected product). The Sub-Fund seeks to achieve its investment objective by providing Unitholders with exposure to a buy-and-maintain portfolio of USD denominated fixed income instruments with active risk monitoring over a fixed investment period of 1 year from the close of the Initial Offer Period up to the Sub-Fund’s Maturity Date (as defined below). The above details are in summary form only and must be read in conjunction with the detailed information contained in the current prospectus.


- 4 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Manager’s Report Manager’s Report Manager’s Report Manager’s Report For The For The For The For The Six MonthSix MonthSix MonthSix Months s s s Ended 3Ended 3Ended 3Ended 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020 The COVID-19 outbreak certainly took the world by surprise and hit the markets hard. But the sequential

easing reactions from the central banks brought the market sentiment back. After the quick and drastic

drawdown in March, the fund had been on a steady recovery path with both EM and Asian credit markets

trending upwards from April to August. However, we saw some meaningful pullback in September. We see

that the market will focus on the presidential election in the US, the continued US-China confrontations, the

virus situation, and to a less extend, the renewed BREXIT drama. However, with all major central banks are

still firmly committed to extremely easy monetary policies, the financial markets will not see major

drawdowns.

Although how the COVID-19 will impact the global economic growth and human behavior in the years to

come is still to be seen, we do not see China shying away from its Belt & Road Initiative (“BRI”). China, as the

first country badly hit by the virus, has already showed convincing evidence of a broad-based recovery. We

believe the country is in a good position to extend financial/medical help to Belt and Road countries in need.

The Belt and Road activities did not slow down materially given the global virus condition. The value of new

Belt and Road projects YTD reached over USD 90 billion. International organizations such as World Bank and

IMF have extended financial helps to selected EM countries. China also provided financial support to some

Belt and Road countries. For example, it provided a concessionary loan of USD 500 million to Sri Lanka upon

request to fight the virus. It also agreed to rescheduled USD 1.7 billion of debt repayments for Kyrgyzstan

government. Chinese president Xi also announced that China would exempt certain African countries from

interest-free loans due by the end of 2020. Besides these, China is actively engaging in donating medical

supplies and equipment to other Belt and Road countries. We believe China’s support to other Belt and Road

countries can build better foundation for further Belt and Road cooperation in the future.

We have identified five themes through which bond issuers, both sovereign and corporate, can benefit from

the BRI. We continue to see the five themes intact in the medium to longer run. The investments of the fund

have always focused on the five themes with active rotation among them. The fund has outperformed most

peers that invest in emerging market and/or high yield hard currency bonds.

We feel that the economic fundamental which is largely related to the successful control of the COVID-19 will

be the major factor moving the markets going into 4Q 2020 and 2021. If we see a faster than expected

vaccine progress, the market will be on the firm foot and rally further. Otherwise, we will be stuck in the

current range bound mode with volatilities hitting the market when geopolitical news arises. The fund

trimmed risk in China in August and September and saw a much smaller drawdown towards the end of 3Q. In

the meantime, the fund has been adding laggard EM bonds to capture the potential upside. We do not see

large position changes in the coming months and believe that our prudent risk control and credit selection

will provide good alpha to the fund.


- 5 -

Invesco Global MulInvesco Global MulInvesco Global MulInvesco Global Multi Income Allocation Fundti Income Allocation Fundti Income Allocation Fundti Income Allocation Fund Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued) For The For The For The For The Six Months Six Months Six Months Six Months Ended 3Ended 3Ended 3Ended 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020 The Fund’s USD Share Class C Accumulation recorded a total return of +12.18% in the reporting period from 31 March 2020 to 30 September 2020 as per Bloomberg data. Our Global Multi Income Allocation Fund has maintained its fundamental structure with investment across assets which can generate stable and diversifying income. The typical allocation into mortgage-backed securities, variable investment grade and municipal bonds combined with factor-based equity investments allowed the Fund to be generally less reactive to the market. As result, daily volatility of the Fund was around 0.87% in this period or annualised at 13.73%. Which is lower than daily average of 1.4% during the March sell-off or an annualised volatility of around 22.1%. The “V” shape rebound in valuations since late March was mainly fuelled by abundant liquidity and perception of further fiscal stimulus by governments across the globe than pure improvement in economic fundamental. Yet the recovery remains fragile and partially complete while consensus forecasts indicated that a return to pre-crisis level of growth and stability were unlikely in the medium term. But there was obvious sign of overvaluation in equity and credit markets. Since, US and Chinese equity markets extended their outperformance vs other markets until late August despite corporate earnings expectations revised downwards. Technology and healthcare companies globally outperformed other traditional sectors such as energy and financial, which can be interpreted as structural effect caused by pandemic induced market disruption. Likewise, credit spread tightened towards a historical level despite indications of persistently high credit risk as result of lock-down and limited economic activities. Policy wise, the Fed has introduced a flexible average inflation targeting strategy in Q3 which allowed inflation to overshoot in the medium term and interest rate can stay lower and longer. The net impact from the above movement has allowed volatility to compressed lower towards the pre-crisis level and financial markets to record a steady gain in this reporting period. After the acute stress in March, the fund has maintained a lower average portion of cash around 1.3% (as low as 0.5% in recent month). The fund has also maintained its allocation towards income-oriented assets but with equity like allocation around 35%. The fund has increased its investment to non-US ETFs from 0% to almost 30% to achieve a better and tax efficient return to our investors. Since the beginning of Q3, the fund has removed all the infrastructure equity and commenced investment into ESG (<2%) and raised the amount of REITs allocation from 5.5% towards 8.8%. Within the equity space, factor allocation was still centre around Value, High Dividend and Low Volatility. Total less than 24%. Despite a volatile interest rate environment, the fund remained diversify across more than 20% Sovereign, government related fixed income assets, less than 12% high yield bonds, 16% investment grade bonds, 6% preferred securities and 6.5% bank loan.


- 6 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Manager’s Report (ContiManager’s Report (ContiManager’s Report (ContiManager’s Report (Continued)nued)nued)nued) For The Six Months For The Six Months For The Six Months For The Six Months Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020 After the quick and drastic drawdown in March, the global Fixed Maturity funds had been on a steady

recovery path with the financial markets trending upwards from April to August. However, we saw some

meaningful pullback in September. We see that the market will focus on the presidential election in the US,

the continued US-China confrontations, the virus situation, and to a less extend, the renewed BREXIT drama.

However, with all major central banks are still firmly committed to extremely easy monetary policies, the

financial markets will not see major drawdowns. The loose monetary policies around the global will work to

contain the potential spike in default rates around the globe. With easy financing conditions, credit risks will

generally be well contained, especially in the short end.

China, as the first country badly hit by the virus, has already showed convincing evidence of a broad-based

recovery. The country demonstrated sustained strength in trade, services PMI and credit growth in the past

months. At the same time, other countries are still negatively impacted by rising virus infection. Our

overweight in China would continue to play out well.

The overall strategy is not to trade frequently for the fund. However, the fund will look for opportunities to

trim lower quality bonds and switch into bonds that are over-penalized during the potential market selloff.

However, the fund will not have turnovers as a typical bond fund due to its buy-and-maintain strategy.

Although the overall default risks will be on the rise in 2020 due to the slower economic growth and lower

corporate income, we do not see the fund suffer any significant loss due to defaults. With the sound credit

analysis and monitoring system, we are confident to keep the low volatility in the fund NAV and deliver good

returns to our unit holders.


- 7 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued) For The Six Months For The Six Months For The Six Months For The Six Months Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020 After the quick and drastic drawdown in March, the Asia Fixed Maturity funds had been on a steady recovery

path with the financial markets trending upwards from April to August. However, we saw some meaningful

pullback in September. We see that the market will focus on the presidential election in the US, the continued

US-China confrontations, the virus situation, and to a less extend, the renewed BREXIT drama. However, with

all major central banks are still firmly committed to extremely easy monetary policies, the financial markets

will not see major drawdowns. The loose monetary policies around the global will work to contain the

potential spike in default rates around the globe. With easy financing conditions, credit risks will generally be

well contained, especially in the short end.













- 8 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued)Manager’s Report (Continued) For The Six Months For The Six Months For The Six Months For The Six Months Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020Ended 30 September 2020 The financial markets continued to trend upwards in July and August amid the continued COVID-19 spread in

the world. We finally saw some meaningful pullback in September. We see that the market will focus on the

presidential election in the US, the continued US-China confrontations, the virus situation, and to a less

extend, the renewed BREXIT drama. However, with all major central banks are still firmly committed to

extremely easy monetary policies, the financial markets will not see major drawdowns. The loose monetary

policies around the global will work to contain the potential spike in default rates around the globe. With easy

financing conditions, credit risks will generally be well contained, especially in the short end.












Invesco Hong Kong Limited Hong Kong, 26 November 2020


- 9 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020

Class Currency Six months ended

30 September 2020

Class A USD Acc USD 16.08%

Class A USD MD1 USD 12.14%

Class A USD MD USD 12.36%

Class A RMB Hgd MD1 RMB 11.42%

Class A HKD MD1 HKD 12.05%

Class A HKD MD HKD 13.53%

Class A SGD Hgd MD1 SGD 12.52%


- 10 -

Invesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation Fund Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020

Class A USD Acc USD 12.01%

Class C USD Acc USD 12.18%


- 11 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020




- 12 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020




- 13 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020



Class A SGD Hgd MD1 SGD 7.14%


- 14 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020




- 15 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Performance RecordPerformance RecordPerformance RecordPerformance Record For The Six Months Ended 30 September 2020


30 September 2020



Class C USD MD1 USD 7.30%

Class C HKD MD1 HKD 7.30%


- 16 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Performance RecordPerformance RecordPerformance RecordPerformance Record For The Period From 21 July 2020 To 30 September 2020


30 September 2020

Class A USD MD1 USD -0.10%

Class C USD Acc USD 0.00%

Investment involves risks. Past performance is not indicative of future performance.


- 17 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At As At As At As At 30 September 202030 September 202030 September 202030 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securities AustraliaAustraliaAustraliaAustralia Scentre Group Trust 2 4.75% 24/09/2080 200,000 196,979 0.78 AustriaAustriaAustriaAustria OMV Ag 2.875% 31/12/2099 100,000 116,630 0.46 BahrainBahrainBahrainBahrain Kingdom Of Bahrain 5.45% 16/09/2032 250,000 237,475 0.94 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 200,000 202,491 0.80 CBQ Finance Ltd 2% 15/09/2025 250,000 249,890 0.99 Concord New Energy Group 7.9% 23/01/2021 250,000 252,168 1.00 BritainBritainBritainBritain Tullow Oil Plc 7% 01/03/2025 500,000 235,417 0.93 Vedanta Resources 8% 23/04/2023 200,000 165,022 0.65 Vodafone Group Plc 3% 27/08/2080 100,000 115,054 0.46 British VirginBritish VirginBritish VirginBritish Virgin IslandsIslandsIslandsIslands Baoxin Auto Finance I Lt 5.625% 31/12/2099 200,000 149,219 0.59 Bi Hai Co Ltd 6.25% 05/03/2022 200,000 201,901 0.80 Central Plaza Dev Ltd 5.75% 31/12/2099 250,000 251,713 1.00 CMHI Finance Bvi Co Ltd 3.875% 31/12/2099 200,000 200,000 0.79 CSSC Capital 2015 Ltd 3% 13/02/2030 200,000 198,374 0.79 Hejun Shunze Investment 12% 25/04/2021 200,000 214,400 0.85 Hejun Shunze Investment 11% 04/06/2022 200,000 210,896 0.83 Hong Seng Ltd 9.875% 27/08/2022 200,000 203,603 0.81 Minmetals Bounteous Fin 3.375% 31/12/2099 300,000 305,663 1.21 Rongxingda Development 8.75% 28/01/2021 200,000 202,128 0.80 SF Holding Investment 2.875% 20/02/2030 300,000 315,995 1.25 Sinopec Grp Dev 2018 3.44% 12/11/2049 200,000 223,653 0.89 Studio City Finance Ltd 6.5% 15/01/2028 250,000 264,681 1.05 Tsinghua Unic Ltd 4.75% 31/01/2021 500,000 381,458 1.51 Wanda Properties Oversea 6.95% 05/12/2022 250,000 256,224 1.01 Yunda Holding Inv 2.25% 19/08/2025 200,000 199,146 0.79 Cayman Cayman Cayman Cayman IslandsIslandsIslandsIslands Dar Al Arkan Sukuk Co Lt 6.875% 26/02/2027 300,000 273,565 1.08 Ehi Car Services Ltd 5.875% 14/08/2022 500,000 440,060 1.74 Fantasia Holdings Group 9.25% 28/07/2023 200,000 193,988 0.77 Kaisa Group Holdings Ltd 9.75% 28/09/2023 300,000 298,594 1.18 Longfor Holdings Ltd 3.85% 13/01/2032 200,000 210,999 0.84 Red Sun Properties Grp 9.95% 11/04/2022 200,000 214,641 0.85 Redco Properties Group 11% 06/08/2022 200,000 202,856 0.80 Redco Properties Group 8.5% 19/08/2021 200,000 200,436 0.79


- 18 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At As At As At As At 30 Septe30 Septe30 Septe30 September 2020mber 2020mber 2020mber 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Cayman Islands Cayman Islands Cayman Islands Cayman Islands (Continued)(Continued)(Continued)(Continued) Ronshine China 8.95% 22/01/2023 200,000 207,931 0.82 Sinic Holdings Group Co 10.5% 18/06/2022 250,000 258,750 1.02 Sunac China Holdings Ltd 6.65% 03/08/2024 200,000 195,657 0.77 Yuzhou Group 7.7% 20/02/2025 200,000 201,268 0.80 Zhenro Properties Group 8.65% 21/01/2023 300,000 311,792 1.23 Egypt Arab Republic Of Egypt 7.625% 29/05/2032 200,000 200,556 0.79 Arab Republic Of Egypt 7.052% 15/01/2032 300,000 292,253 1.16 FranceFranceFranceFrance Electricite De France Sa 5.625% 31/12/2049 250,000 264,570 1.05 Total Capital International Sa 3.127% 29/05/2050 200,000 209,692 0.83 GhanaGhanaGhanaGhana Republic Of Ghana 7.625% 16/05/2029 400,000 374,788 1.48 GuernseyGuernseyGuernseyGuernsey ETG International Guerns 5% 05/04/2027 250,000 260,086 1.03 Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 500,000 400,710 1.59 Cnac Hk Finbridge Co Ltd 3.7% 22/09/2050 250,000 246,369 0.98 Yango Justice International 10.25% 18/03/2022 400,000 418,470 1.66 IndiaIndiaIndiaIndia Adani Electricity Mumbai 3.949% 12/02/2030 250,000 246,550 0.98 Power Finance Corp Ltd 6.15% 06/12/2028 200,000 228,101 0.90 IndonesiaIndonesiaIndonesiaIndonesia ABM Investama Tbk Pt 7.125% 01/08/2022 200,000 126,369 0.50 Bukit Makmur Mandiri Uta 7.75% 13/02/2022 250,000 210,207 0.83 PT Adaro Indonesia 4.25% 31/10/2024 500,000 495,163 1.96 Isle of Man Gohl Capital Ltd 4.25% 24/01/2027 200,000 200,388 0.79 ItalyItalyItalyItaly Eni Spa 4.25% 09/05/2029 250,000 286,036 1.13 Unicredit Spa 5.459% 30/06/2035 400,000 414,086 1.64 Japan Softbank Group Corp 6% 31/12/2099 200,000 186,400 0.74


- 19 -

Invesco Belt and Road BonInvesco Belt and Road BonInvesco Belt and Road BonInvesco Belt and Road Bond Fundd Fundd Fundd Fund Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At As At As At As At 30 September 202030 September 202030 September 202030 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) KenyaKenyaKenyaKenya Republic Of Kenya 8% 22/05/2032 400,000 407,395 1.61 Republic Of Kenya 8.25% 28/02/2048 200,000 193,113 0.76 LuxembourgLuxembourgLuxembourgLuxembourg Puma International Finan 5% 24/01/2026 500,000 429,620 1.70 Swiss Re Finance Lux 4.25% 31/12/2099 200,000 205,799 0.81 MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 500,000 388,576 1.54 MongoliaMongoliaMongoliaMongolia Devt Bank Of Mongolia 7.25% 23/10/2023 200,000 215,379 0.85 Netherlands Netherlands Netherlands Netherlands At Securities Bv 5.25% 31/12/2099 250,000 253,490 1.00 IHS Netherlands Holdco 8% 18/09/2027 200,000 206,578 0.82 Minejesa Capital Bv 4.625% 10/08/2030 200,000 206,832 0.82 Mong Duong Fin Holdings Bv 5.125% 07/05/2029 300,000 311,906 1.23 Prosus Nv 3.68% 21/01/2030 400,000 434,402 1.72 NigeriaNigeriaNigeriaNigeria Republic Of Nigeria 7.875% 16/02/2032 200,000 192,533 0.76 Republic Of Nigeria 7.696% 23/02/2038 400,000 363,809 1.44 OmanOmanOmanOman Oman Gov International Bond 6.75% 17/01/2048 250,000 209,931 0.83 Oman Gov International Bond 6% 01/08/2029 200,000 186,903 0.74 Papua New GuineaPapua New GuineaPapua New GuineaPapua New Guinea PNG G Government International Bond 8.375% 04/10/2028 200,000 208,435 0.83 People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”) Chongqing Nanan Con Dev 4.5% 17/08/2026 200,000 201,407 0.80 Grand Automotive Service 8.625% 08/04/2022 200,000 178,785 0.71 Zhongan Online P+C Insur 3.125% 16/07/2025 200,000 199,755 0.79 Philippines Philippines Philippines Philippines BDO Unibank Inc 2.125% 13/01/2026 200,000 200,513 0.79 Rizal Commercial Banking 6.5% 31/12/2099 400,000 402,491 1.59 RomaniaRomaniaRomaniaRomania Romania 3% 14/02/2031 400,000 414,067 1.64


- 20 -

InvInvInvInvesco Belt and Road Bond Fund esco Belt and Road Bond Fund esco Belt and Road Bond Fund esco Belt and Road Bond Fund Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At As At As At As At 30 September 202030 September 202030 September 202030 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Saudi Saudi Saudi Saudi ArabiaArabiaArabiaArabia Saudi International Bond 3.25% 22/10/2030 200,000 220,575 0.87 SenegalSenegalSenegalSenegal Republic Of Senegal 6.25% 23/05/2033 300,000 302,059 1.20 Republic Of Senegal 6.75% 13/03/2048 200,000 190,049 0.75 SingaporeSingaporeSingaporeSingapore Global Prime Capital 5.95% 23/01/2025 400,000 393,496 1.56 Thailand Thailand Thailand Thailand Bangkok Bank Pcl/Hk 3.733% 25/09/2034 200,000 196,333 0.78 Thaioil Trsry Center 5.375% 20/11/2048 200,000 245,882 0.97 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Crude Oil 4.6% 02/11/2047 200,000 247,142 0.98 Abu Dhabi Govt Int L 3.875% 16/04/2050 200,000 248,552 0.98 Nbk Tier 1 Financing 2 4.5% 31/12/2099 300,000 301,814 1.19 United StUnited StUnited StUnited States ates ates ates of of of of America America America America Kosmos Energy Ltd 7.125% 04/04/2026 200,000 183,006 0.72 Sasol Financing USA Llc 5.875% 27/03/2024 200,000 192,631 0.76 UzbekistanUzbekistanUzbekistanUzbekistan Republic Of Uzbekistan 5.375% 20/02/2029 300,000 338,352 1.34 Uzbek Industrial And Con 5.75% 02/12/2024 350,000 374,677 1.48 Vietnam Vietnam Vietnam Vietnam Nova Land Investment 5.5% 27/04/2023 250,000 257,126 1.02 DerDerDerDerivatives ivatives ivatives ivatives –––– forward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contracts Sell EUR200,000 / buy USD237,368 – 22 Dec 2020 2,401 0.01 Buy RMB165,673 / sell USD24,413 – 9 Oct 2020 - - Sell RMB28,444 / buy USD4,191 – 9 Oct 2020 - - Buy RMB66,333,097 / sell USD9,657,944 – 30 Nov 2020 83,019 0.33 Buy RMB1,811,412 / sell USD263,783 – 30 Nov 2020 2,221 0.01 Buy RMB2,622 / sell USD383 – 30 Nov 2020 2 - Buy RMB28,444 / sell USD4,175 – 30 Nov 2020 2 - Buy SGD839,478 / sell USD609,235 – 30 Nov 2020 5,766 0.02 Buy SGD26 / sell USD19 – 30 Nov 2020 - - ────────── ──────

Financial assets at fair value through profit or lossFinancial assets at fair value through profit or lossFinancial assets at fair value through profit or lossFinancial assets at fair value through profit or loss 23,618,2923,618,2923,618,2923,618,293333 99993333....55551111 --------------------- -------------


- 21 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 SeptemberAs At 30 SeptemberAs At 30 SeptemberAs At 30 September 2020202020202020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securitieListed/quoted debt securitieListed/quoted debt securitieListed/quoted debt securities (Continued)s (Continued)s (Continued)s (Continued) Derivatives Derivatives Derivatives Derivatives –––– forward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contracts Sell RMB2,622 / buy USD384 – 9 Oct 2020 (2) - Sell RMB129,430 / buy USD18,842 – 30 Nov 2020 (165) - Sell RMB1,334,412 / buy USD194,900 – 30 Nov 2020 (1,057) (0.01) Sell RMB165,673 / buy USD24,316 – 30 Nov 2020 (13) - Sell SGD16,599 / buy USD12,094 – 30 Nov 2020 (67) - ────────── ──────

FFFFinancial liabilities at fair value through inancial liabilities at fair value through inancial liabilities at fair value through inancial liabilities at fair value through profit or lossprofit or lossprofit or lossprofit or loss ((((1,3041,3041,3041,304)))) (0.(0.(0.(0.01010101)))) Total investmentsTotal investmentsTotal investmentsTotal investments 23,616,23,616,23,616,23,616,989989989989 99993333....50505050 Cash aCash aCash aCash and other net assetsnd other net assetsnd other net assetsnd other net assets 1,641,819 6.50 ────────── ──────

Net assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholders 25,258,80825,258,80825,258,80825,258,808 100.00100.00100.00100.00 ══════════ ══════

Total Total Total Total investments at costinvestments at costinvestments at costinvestments at cost 23,630,00023,630,00023,630,00023,630,000 ══════════

Note: Investments are accounted for on a trade date basis.


- 22 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020

Holdings as at

31 March 2020 Additions Disposals

Holdings as at 30 September

2020 Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities

AngolaAngolaAngolaAngola Republic Of Angola 9.5% 12/11/2025 200,000 - 200,000 - AustraliaAustraliaAustraliaAustralia Scentre Group Trust 2 4.75% 24/09/2080 - 200,000 - 200,000 AustriaAustriaAustriaAustria Omv Ag 2.875% 31/12/2099 - 100,000 - 100,000 BahrainBahrainBahrainBahrain Kingdom Of Bahrain 5.625% 30/09/2031 200,000 - 200,000 - Kingdom Of Bahrain 7.375% 14/05/2030 - 200,000 200,000 - Kingdom Of Bahrain 5.45% 16/09/2032 - 250,000 - 250,000 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 - 200,000 200,000 Cbq Finance Ltd 2% 15/09/2025 - 450,000 200,000 250,000 Concord New Energy Group 7.9% 23/01/2021 500,000 - 250,000 250,000 BritainBritainBritainBritain Tullow Oil Plc 7% 01/03/2025 500,000 - - 500,000 Vedanta Resources 8% 23/04/2023 - 200,000 - 200,000 Vodafone Group Plc 3% 27/08/2080 - 100,000 - 100,000 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Baoxin Auto Finance I Lt 5.625% 31/12/2099 - 200,000 - 200,000 Bi Hai Co Ltd 6.25% 05/03/2022 900,000 - 700,000 200,000 Bluestar Fin Holdings 3.875% 31/12/2099 - 200,000 200,000 - Ccci Treasure Ltd 3.65% 31/12/2099 250,000 - 250,000 - Central Plaza Dev Ltd 5.75% 31/12/2099 450,000 - 200,000 250,000 Clp Power Hk Financing 2.5% 30/06/2035 - 400,000 400,000 - Cmhi Finance Bvi Co Ltd 3.875% 31/12/2099 - 200,000 - 200,000 Cssc Capital 2015 Ltd 3% 13/02/2030 - 400,000 200,000 200,000 Fuqing Investment Mgmt 3.25% 23/06/2025 - 300,000 300,000 - Greenland Glb Invst 6.25% 16/12/2022 - 300,000 300,000 - Haimen Zhongnan Inv Dev 10.875% 18/06/2022 250,000 - 250,000 -


- 23 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The For The For The For The Six Months Ended Six Months Ended Six Months Ended Six Months Ended 30 September 202030 September 202030 September 202030 September 2020

Holdings as at 31 March 2020 Additions Disposals


2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continued)(Continued)(Continued)(Continued) Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued)

British Virgin IslBritish Virgin IslBritish Virgin IslBritish Virgin Islands (ands (ands (ands (Continued)Continued)Continued)Continued) Hejun Shunze Investment 12% 25/04/2021 400,000 - 200,000 200,000 Hejun Shunze Investment 11% 04/06/2022 - 200,000 - 200,000 Hong Seng Ltd 9.875% 27/08/2022 - 200,000 - 200,000 Huarong Finance 2017 Co 4.95% 07/11/2047 250,000 - 250,000 -

Jgsh Philippines Ltd 4.125% 09/07/2030 - 200,000 200,000 - Knight Castle Investments 7.99% 23/01/2021 - - - -

Minmetals Bounteous Fin 3.375% 31/12/2099 300,000 300,000

New Metro Global Ltd 6.8% 05/08/2023 200,000 - 200,000 - Rkpf Overseas 2019 A Ltd 6.7% 30/09/2024 400,000 - 400,000 -

Rongxingda Development 8.75% 28/01/2021 200,000 - - 200,000

Scenery Journey Ltd 12% 24/10/2023 - 400,000 400,000 - Scenery Journey Ltd 11% 06/11/2020 400,000 - 400,000 - Sf Holding Investment 2.875% 20/02/2030 500,000 - 200,000 300,000 Sinopec Grp Dev 2018 3.44% 12/11/2049 - 200,000 - 200,000 Studio City Finance Ltd 7.25% 11/02/2024 - 200,000 200,000 - Studio City Finance Ltd 6.5% 15/01/2028 - 250,000 - 250,000 Tcl Technology Invest 1.875% 14/07/2025 - 200,000 200,000 - Tsinghua Unic Ltd 4.75% 31/01/2021 500,000 - - 500,000 Vigorous Champ Intl Ltd 2.75% 02/06/2025 - 350,000 350,000 - Wanda Properties Oversea 6.95% 05/12/2022 450,000 - 200,000 250,000 Wharf Reic Finance Bvi 2.875% 07/05/2030 - 200,000 200,000 - Yunda Holding Inv 2.25% 19/08/2025 - 200,000 - 200,000 CanadaCanadaCanadaCanada Meglobal Canada Ulc 5.875% 18/05/2030 - 200,000 200,000 -


- 24 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020




Cayman IslandsCayman IslandsCayman IslandsCayman Islands Baidu Inc 3.425% 07/04/2030 - 200,000 200,000 - Bright Scholar Education 7.45% 31/07/2022 250,000 250,000 - China Evergrande Group 9.5% 11/04/2022 - 400,000 400,000 - China Evergrande Group 6.25% 28/06/2021 400,000 400,000 - Dp World Salaam 6% 31/12/2099 - 200,000 200,000 - Dar Al Arkan Sukuk Co Lt 6.875% 21/03/2023 300,000 - - 300,000 Ehi Car Services Ltd 5.875% 14/08/2022 500,000 - - 500,000 Fantasia Holdings Group 11.875% 01/06/2023 - 200,000 200,000 - Fantasia Holdings Group 9.25% 28/07/2023 - 200,000 - 200,000 Greentown China Hldgs 5.65% 13/07/2025 - 200,000 200,000 - Jd.Com Inc 4.125% 14/01/2050 300,000 - 300,000 - Kaisa Group Holdings Ltd 9.75% 28/09/2023 - 500,000 200,000 300,000 Kaisa Group Holdings Ltd 11.95% 22/10/2022 400,000 - 400,000 - Longfor Holdings Ltd 3.85% 13/01/2032 400,000 - 200,000 200,000 Modern Land China Co Ltd 11.5% 13/11/2022 - 200,000 200,000 - Nagacorp Ltd 9.375% 21/05/2021 - 200,000 200,000 - Nagacorp Ltd 7.95% 06/07/2024 - 300,000 300,000 - New Oriental Edu + Tech 2.125% 02/07/2025 - 400,000 400,000 - Powerlong Real Estate 6.95% 23/07/2023 - 200,000 200,000 - Powerlong Real Estate 7.125% 08/11/2022 200,000 - 200,000 - Red Sun Properties Group 9.95% 11/04/2022 400,000 - 200,000 200,000 Redco Properties Group 8.5% 19/08/2021 - 200,000 - 200,000 Redco Properties Group 11% 06/08/2022 - 200,000 - 200,000 Ronshine China 8.95% 22/01/2023 400,000 - 200,000 200,000


- 25 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund MovemMovemMovemMovement of Portfolio Investments (Continued) ent of Portfolio Investments (Continued) ent of Portfolio Investments (Continued) ent of Portfolio Investments (Continued) For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020



2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continued)(Continued)(Continued)(Continued) Listed/quoted debt seListed/quoted debt seListed/quoted debt seListed/quoted debt securities curities curities curities (Continued)(Continued)(Continued)(Continued)

Cayman Islands (Cayman Islands (Cayman Islands (Cayman Islands (Continued)Continued)Continued)Continued) Ronshine China 7.35% 15/12/2023 - 200,000 200,000 - Shimao Group Hldgs Ltd 4.6% 13/07/2030 - 200,000 200,000 - Shimao Property Holdings 5.6% 15/07/2026 200,000 - 200,000 - Sinic Holdings Group Co 11.75% 10/03/2021 200,000 - 200,000 - Sinic Holdings Group Co 10.5% 18/06/2022 - 250,000 - 250,000 Sunac China Holdings Ltd 7.95% 11/10/2023 400,000 - 400,000 - Sunac China Holdings Ltd 6.65% 03/08/2024 - 200,000 - 200,000 Tencent Holdings Ltd 3.975% 11/04/2029 300,000 - 300,000 - Tencent Holdings Ltd 3.24% 03/06/2050 - 200,000 200,000 - Yuzhou Properties Co Ltd 8.5% 04/02/2023 200,000 - 200,000 - Yuzhou Properties Co Ltd 7.7% 20/02/2025 200,000 - - 200,000 Zhenro Properties Group 8.65% 21/01/2023 300,000 - - 300,000 EgyptEgyptEgyptEgypt Arab Republic Of Egypt 8.7002% 01/03/2049 300,000 - 300,000 - Arab Republic Of Egypt 7.052% 15/01/2032 - 300,000 - 300,000 Arab Republic Of Egypt 7.625% 29/05/2032 - 400,000 200,000 200,000 FranceFranceFranceFrance Electricite De France Sa 5.625% 31/12/2049 500,000 - 250,000 250,000 Societe Generale 4.25% 14/04/2025 - 200,000 200,000 - Total Capital Intl Sa 3.127% 29/05/2050 - 200,000 - 200,000 GhanaGhanaGhanaGhana Republic Of Ghana 7.625% 16/05/2029 300,000 400,000 300,000 400,000


- 26 -




2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continued)(Continued)(Continued)(Continued)

Listed/quoted deListed/quoted deListed/quoted deListed/quoted debt securities bt securities bt securities bt securities (Continued)(Continued)(Continued)(Continued)

GuernseyGuernseyGuernseyGuernsey Efg International Guerns 5% 05/04/2027 250,000 - - 250,000 Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 900,000 - 400,000 500,000 China South City Holding 10.75% 11/04/2023 - 250,000 250,000 - Chong Hing Bank Ltd 5.7% 31/12/2099 - - - - Cnac Hk Finbridge Co Ltd 3.7% 22/09/2050 - 250,000 - 250,000 Cnac Hk Finbridge Co Ltd 3.875% 19/06/2029 200,000 - 200,000 - Xiaomi Best Time Intl 3.375% 29/04/2030 - 250,000 250,000 - Yango Justice International 10.25% 18/03/2022 400,000 - - 400,000 Yango Justice Intl 7.5% 15/04/2024 - 200,000 200,000 - IndiaIndiaIndiaIndia Adani Electricity Mumbai 3.949% 12/02/2030 250,000 - - 250,000 Adani Green Energy Up 6.25% 10/12/2024 450,000 - 450,000 - Adani Ports And Special 4.375% 03/07/2029 350,000 - 350,000 - Power Finance Corp Ltd 6.15% 06/12/2028 - 200,000 - 200,000 Rec Limited 4.75% 19/05/2023 - 200,000 200,000 - IndonesiaIndonesiaIndonesiaIndonesia Abm Investama Tbk Pt 7.125% 01/08/2022 - 200,000 - 200,000 Bank Mandiri Pt 4.75% 13/05/2025 - 200,000 200,000 - Bukit Makmur Mandiri Uta 7.75% 13/02/2022 250,000 - - 250,000 Hutama Karya Persero Pt 3.75% 11/05/2030 - 400,000 400,000 -


- 27 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 Sep30 Sep30 Sep30 September 2020tember 2020tember 2020tember 2020




Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued)

Indonesia Indonesia Indonesia Indonesia (Continued)(Continued)(Continued)(Continued) Indonesia Asahan Alumini 5.45% 15/05/2030 - 200,000 200,000 - Perusahaan Penerbit Sbsn 3.8% 30/06/2050 - 250,000 250,000 - Pt Adaro Indonesia 4.25% 31/10/2024 200,000 300,000 - 500,000 Pt Bank Tabungan Negara 4.2% 23/01/2025 200,000 - 200,000 - Republic Of Indonesia 4.2% 15/10/2050 - 400,000 400,000 - Saka Energi Indonesia Pt 4.45% 05/05/2024

200,000

200,000

400,000

-

IrelandIrelandIrelandIreland Cloverie Plc Zurich Ins 4.75% 29/12/2049 - 200,000 200,000 -

Isle Isle Isle Isle of of of of ManManManMan Gohl Capital Ltd 4.25% 24/01/2027 - 200,000 - 200,000

IsraelIsraelIsraelIsrael State Of Israel 3.8% 13/05/2060 - 450,000 450,000 - State Of Israel 3.875% 03/07/2050 200,000 - 200,000 - ltalyltalyltalyltaly Eni Spa 4.25% 09/05/2029 500,000 - 250,000 250,000 Unicredit Spa 7.296% 02/04/2034 400,000 - 400,000 - Unicredit Spa 5.459% 30/06/2035 - 400,000 - 400,000 JapanJapanJapanJapan Nippon Life Insurance 3.4% 23/01/2050 250,000 - 250,000 - Softbank Group Corp 6% 31/12/2099 - 200,000 - 200,000

KenyaKenyaKenyaKenya Republic Of Kenya 7.25% 28/02/2028 200,000 - 200,000 - Republic Of Kenya 8% 22/05/2032 - 400,000 - 400,000 Republic Of Kenya 8.25% 28/02/2048 - 200,000 - 200,000


- 28 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Movement of Portfolio InvesMovement of Portfolio InvesMovement of Portfolio InvesMovement of Portfolio Investments (Continued) tments (Continued) tments (Continued) tments (Continued) For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020





LuxembourgLuxembourgLuxembourgLuxembourg Cpi Property Group Sa 4.75% 08/03/2023 - - -

Puma International Finance 5% 24/01/2026 500,000 - - 500,000

Swiss Re Finance Lux 4.25% 31/12/2099 200,000 - - 200,000

MalaysiaMalaysiaMalaysiaMalaysia Petronas Capital Ltd 4.55% 21/04/2050 - 200,000 200,000 -

MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 500,000 - - 500,000

MauritiusMauritiusMauritiusMauritius Greenko Solar Mauritius 5.95% 29/07/2026 300,000 - 300,000 -

Hta Group Ltd 7% 18/12/2025 - 200,000 200,000 - Upl Corp Ltd 4.625% 16/06/2030 - 350,000 350,000 -

MongoliaMongoliaMongoliaMongolia Development Bank Of Mongolia 7.25% 23/10/2023 200,000 - - 200,000

NetherlandsNetherlandsNetherlandsNetherlands At Securities Bv 5.25% 31/12/2099 750,000 - 500,000 250,000 Enel Finance International Nv 3.625% 25/05/2027 300,000 - 300,000 -

Ihs Netherlands Holdco 8% 18/09/2027 - 200,000 - 200,000

Mdgh Gmtn Bv 2.875% 21/05/2030 - 200,000 200,000 - Minejesa Capital Bv 4.625% 10/08/2030 - 200,000 - 200,000

Mong Duong Fin Holdings Bv 5.125% 07/05/2029 550,000 - 250,000 300,000

Prosus Nv 3.68% 21/01/2030 600,000 - 200,000 400,000 Prosus Nv 4.027% 03/08/2050 - 200,000 200,000 -


- 29 -




2020 ListedListedListedListed/quoted investments /quoted investments /quoted investments /quoted investments (Continued)(Continued)(Continued)(Continued)


NigeriaNigeriaNigeriaNigeria Republic Of Nigeria 6.5% 28/11/2027 300,000 - 300,000 - Republic Of Nigeria 7.875% 16/02/2032 - 200,000 - 200,000

Republic Of Nigeria 7.696% 23/02/2038 - 400,000 - 400,000

OmanOmanOmanOman Oman Gov International Bond 6% 01/08/2029 - 400,000 200,000 200,000

Oman Gov Interntl Bond 6.75% 17/01/2048 - 250,000 - 250,000

Papua New GuineaPapua New GuineaPapua New GuineaPapua New Guinea Png Government International Bond 8.375% 04/10/2028 650,000 - 450,000 200,000

People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”) Chengdu Comm Invst Group 4.75% 13/12/2027 - 200,000 200,000 -

China Construction Bank 2.45% 24/06/2030 - 350,000 350,000 -

Chongqing Nanan Con Dev 4.5% 17/08/2026 - 400,000 200,000 200,000

Grand Automotive Service 8.625% 08/04/2022 - 200,000 - 200,000

Zhongan Online P+C Insur 3.125% 16/07/2025 - 400,000 200,000 200,000

PhilippinesPhilippinesPhilippinesPhilippines Bdo Unibank Inc 2.125% 13/01/2026 - 200,000 - 200,000 Megaworld Corp 4.125% 30/07/2027 - 200,000 200,000 - Pldt Inc 3.45% 23/06/2050 - 200,000 200,000 - Rizal Commercial Banking 6.5% 31/12/2099

- 600,000 200,000 400,000

Smc Global Power Holdings 5.7% 31/12/2099 200,000 - 200,000 -

QatarQatarQatarQatar State Of Qatar 4.817% 14/03/2049 200,000 - 200,000 - State Of Qatar 4.4% 16/04/2050 - 200,000 200,000 -


- 30 -

Invesco Belt andInvesco Belt andInvesco Belt andInvesco Belt and Road Bond Fund Road Bond Fund Road Bond Fund Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020





RomaniaRomaniaRomaniaRomania Romania 3% 14/02/2031 - 400,000 - 400,000 - Saudi ArabiaSaudi ArabiaSaudi ArabiaSaudi Arabia - Saudi International Bond 3.25% 22/10/2030 - 400,000 200,000 200,000

SenegalSenegalSenegalSenegal Republic Of Senegal 6.25% 23/05/2033 300,000 200,000 200,000 300,000 Republic Of Senegal 6.75% 13/03/2048 - 200,000 - 200,000

SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 3.25% 29/04/2025 - 250,000 250,000 - DBS Group Holdings Ltd 3.3% 31/12/2099 300,000 - 300,000 - Global Prime Capital 5.95% 23/01/2025 400,000 200,000 200,000 400,000 Lmirt Capital Pte Ltd 7.25% 19/06/2024 450,000 - 450,000 - Oversea Chinese Banking 1.832% 10/09/2030 - 200,000 200,000 - South KoreaSouth KoreaSouth KoreaSouth Korea KT Corp 1% 01/09/2025 - 200,000 200,000 - ThailandThailandThailandThailand Bangkok Bank Pcl/Hk 3.733% 25/09/2034 - 200,000 - 200,000 PTT Treasury Centre 3.7% 16/07/2070 - 200,000 200,000 - PTTEP Treasury Center Co 2.587% 10/06/2027 - 200,000 200,000 - PTTEP Treasury Center Co 3.903% 06/12/2059 500,000 - 500,000 - Thaioil Trsry Center 3.5% 17/10/2049 200,000 - 200,000 - Thaioil Trsry Center 5.375% 20/11/2048 - 200,000 - 200,000


- 31 -

InveInveInveInvesco Belt and Road Bond Fund sco Belt and Road Bond Fund sco Belt and Road Bond Fund sco Belt and Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continue(Continue(Continue(Continued)d)d)d)


United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Crude Oil 4.6% 02/11/2047 200,000 - - 200,000 Abu Dhabi Govt International L 3.125% 30/09/2049 200,000 - 200,000 - Abu Dhabi Govt Int L 3.875% 16/04/2050 - 400,000 200,000 200,000 Nbk Tier 1 Financing 2 4.5% 31/12/2099 300,000 - - 300,000 Oztel Holdings Spc Ltd 6.625% 24/04/2028 - 200,000 200,000 - UniUniUniUnited States ted States ted States ted States of of of of AmericaAmericaAmericaAmerica Kosmos Energy Ltd 7.125% 04/04/2026 400,000 - 200,000 200,000 Sasol Financing Usa Llc 5.875% 27/03/2024 - 400,000 200,000 200,000 UzbekistanUzbekistanUzbekistanUzbekistan Republic Of Uzbekistan 5.375% 20/02/2029 800,000 - 500,000 300,000 Uzbek Industrial And Con 5.75% 02/12/2024 350,000 - - 350,000

VietnamVietnamVietnamVietnam Nova Land Investment 5.5% 27/04/2023 500,000 - 250,000 250,000 Vietnam Prosperity Jsc 6.25% 17/07/2022 200,000 200,000 400,000 -


- 32 -

Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020

Net fair value as at 31

March 2020 Fair value

change


September 2020 Listed/quoted investmentListed/quoted investmentListed/quoted investmentListed/quoted investments s s s (Continued)(Continued)(Continued)(Continued)

Derivatives Derivatives Derivatives Derivatives –––– forward foreignforward foreignforward foreignforward foreign exchange contractsexchange contractsexchange contractsexchange contracts Buy RMB / sell USD 52,996 32,248 85,244 Sell RMB / buy USD (1,282) 45 (1,237) Buy SGD / sell USD 9,303 (3,537) 5,766 Sell SGD / buy USD (682) 615 (67) Sell EUR / buy USD - 2,401 2,401


- 33 -

Invesco Invesco Invesco Invesco Global Multi Income Allocation FundGlobal Multi Income Allocation FundGlobal Multi Income Allocation FundGlobal Multi Income Allocation Fund Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 3As At 3As At 3As At 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020

Holdings

Fair value % of net

assets USD LiLiLiListed/quoted investmentssted/quoted investmentssted/quoted investmentssted/quoted investments ListedListedListedListed exchange traded fundsexchange traded fundsexchange traded fundsexchange traded funds IrelandIrelandIrelandIreland Invesco USD Corporate Bond Uci 168,000 3,708,600 7.07 United KingdomUnited KingdomUnited KingdomUnited Kingdom Invesco Emerging Markets USD B 155,352 3,002,563 5.72 Invesco Msci USA Esg Universal 19,405 976,942 1.86 Invesco Preferred Shares Ucits 154,237 3,055,435 5.82 Invesco S+P 500 High Dividend 180,184 4,537,033 8.65 United States United States United States United States of of of of AmericaAmericaAmericaAmerica Invesco 1 30 Laddered Treasury 29,211 1,147,700 2.19 Invesco Fundamental High Yield 219,709 4,073,405 7.76 Invesco Global Short Term High 94,542 2,043,525 3.89 Invesco S+P 500 Pure Value ETF 97,874 4,797,783 9.14 Invesco S+P International Deve 110,314 3,139,536 5.98 Invesco Senior Loan ETF 165,426 3,596,361 6.85 Invesco Taxable Municipal Bond 150,279 5,011,805 9.55 Invesco Variable Rate Investme 193,582 4,810,513 9.17 Ishares Global Reit ETF 214,827 4,517,812 8.61 Ishares MBS ETF 30,921 3,413,678 6.51 ────────── ──────

Financial assets at fair value through pFinancial assets at fair value through pFinancial assets at fair value through pFinancial assets at fair value through profit or lossrofit or lossrofit or lossrofit or loss 51,832,69851,832,69851,832,69851,832,698 98.7998.7998.7998.79 Cash and other net Cash and other net Cash and other net Cash and other net assetsassetsassetsassets 633,747 1.21 ────────── ──────

Net assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholders 52,466,44552,466,44552,466,44552,466,445 100.00 ══════════ ══════

Total investments at costTotal investments at costTotal investments at costTotal investments at cost 52,683,88952,683,88952,683,88952,683,889 ══════════



- 34 -

Invesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation Fund Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended For The Six Months Ended For The Six Months Ended For The Six Months Ended 30 September 202030 September 202030 September 202030 September 2020

Holdings as at 31

March 2020 Additions Disposals


2020 Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed exchange tListed exchange tListed exchange tListed exchange traded funds raded funds raded funds raded funds IrelandIrelandIrelandIreland Invesco Emerging Markets USD B - 168,442 13,090 155,352 Invesco Msci USA Esg Universal - 20,405 1,000 19,405 Invesco Preferred Shares Ucits - 165,487 11,250 154,237 Invesco S+P 500 High Dividend - 187,784 7,600 180,184 Invesco Usd Corporate Bond Uci - 177,811 9,811 168,000 United States United States United States United States of of of of AmericaAmericaAmericaAmerica Alerian Mlp ETF 109,700 95,404 205,104 - Invesco 1-30 Laddered Treasury ETF 33,922 4,034 8,745 29,211 Invesco Emerging Markets Sovereign Debt ETF 112,988 6,951 119,939 -

Invesco Fundamental High Yield Corporate Bond ETF 232,505 4,374 17,170 219,709

Invesco Fundamental Investment Grade Corporate Bond ETF - - - -

Invesco Global Short Term High Yield Bond ETF 96,242 - 1,700 94,542

Invesco Investment Grade Defensive ETF 104,300 6,400 110,700 -

Invesco Investment Grade Value ETF 52,300 - 52,300 - Invesco Ladderrite 0-5 Year Corporate ETF - - - -

Invesco Preferred ETF 221,925 13,340 235,265 - Invesco S&P 500 Value With Momentum ETF - - - -

Invesco S&P 500 High Dividend Low Volatility ETF 126,011 20,221 146,232 -

Invesco S&P 500 Pure Value ETF 94,774 34,304 31,204 97,874 Invesco S&P High Income Infrastructure ETF - - - -

Invesco S&P International Developed Low Volatility ETF 103,231 10,983 3,900 110,314

Invesco Senior Loan ETF 171,940 12,999 19,513 165,426 Invesco Taxable Municipal Bond ETF 144,290 20,816 14,827 150,279 Invesco Variable Rate Investment Grade ETF 175,413 23,769 5,600 193,582

Ishares Global Infrastructure ETF 38,100 7,190 45,290 - Ishares Global Reit ETF 115,934 103,110 4,217 214,827 Ishares Mbs ETF 33,096 4,740 6,915 30,921


- 35 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 As At 30 As At 30 As At 30 September 2020September 2020September 2020September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Termin 4.45% 15/12/2022 2,000,000 1,837,134 0.68 Scentre Group Trust 1/2 2.375% 28/04/2021 200,000 203,311 0.08 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 5,850,000 5,922,873 2.20 CBQ Finance Ltd 3.25% 13/06/2021 2,000,000 2,050,720 0.76 Concord New Energy Group 7.9% 23/01/2021 4,500,000 4,539,025 1.68 BritainBritainBritainBritain Coca Cola European Partn 4.5% 01/09/2021 200,000 205,608 0.08 HSBC Holdings Plc 2.65% 05/01/2022 200,000 206,320 0.08 Standard Chartered Plc 5.7% 25/01/2022 7,600,000 8,054,542 2.99 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Bi Hai Co Ltd 6.25% 05/03/2022 3,600,000 3,634,209 1.35 Central Plaza Dev Ltd 3.875% 30/01/2021 1,500,000 1,516,981 0.56 Chouzhou International Inv Ltd 4% 05/12/2020 4,000,000 4,065,096 1.51 CLP Power Hk Financing 4.75% 12/07/2021 200,000 207,527 0.08 New Metro Global Ltd 7.125% 23/05/2021 1,000,000 1,034,120 0.38 Yuexiu Reit Mtn Co 4.75% 27/04/2021 6,400,000 6,628,348 2.46 Yunnan Energy Inst Ovr 6.25% 29/11/2021 10,500,000 11,037,355 4.10 Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 10,000,000 10,247,430 3.80 Capital Environment Hlds 5.625% 11/09/2021 3,300,000 3,396,112 1.26 CFLD Cayman Investment 9% 31/07/2021 4,500,000 4,550,625 1.69 China Aoyuan Group Ltd 8.5% 23/01/2022 1,300,000 1,356,622 0.50 Country Garden Hldgs 7.125% 27/01/2022 10,000,000 10,420,331 3.87 Dib Sukuk Ltd 3.6% 30/03/2021 1,000,000 1,012,926 0.38 EHI Car Services Ltd 5.875% 14/08/2022 4,200,000 3,696,507 1.37 EI Sukuk Co Ltd 3.542% 31/05/2021 200,000 205,769 0.08 Foxconn Far East Ltd 2.25% 23/09/2021 200,000 201,793 0.07 Hutch Whampoa Int 11 Ltd 4.625% 13/01/2022 200,000 211,036 0.08 Ronshine China 10.5% 01/03/2022 2,900,000 3,048,592 1.13 Shimao Group Hldgs Ltd 6.375% 15/10/2021 9,500,000 10,088,000 3.74 Sib Sukuk Co iii Ltd 3.084% 08/09/2021 2,800,000 2,862,217 1.06 Sunac China Holdings Ltd 7.25% 14/06/2022 2,600,000 2,662,526 0.99 Unity 1 Sukuk Limited 3.86% 30/11/2021 7,323,000 7,547,991 2.80 Yuzhou Group 8.625% 23/01/2022 4,500,000 4,719,491 1.75 ChileChileChileChile Empresa Nacional De Petr 4.75% 06/12/2021 200,000 209,796 0.08


- 36 -

InvInvInvInvesco Global Bond Fixed Maturity Fund 2022esco Global Bond Fixed Maturity Fund 2022esco Global Bond Fixed Maturity Fund 2022esco Global Bond Fixed Maturity Fund 2022 Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) DenmDenmDenmDenmarkarkarkark Danske Bank A/S 5% 12/01/2022 950,000 1,008,445 0.37 FranceFranceFranceFrance Credit Agricole London 3.375% 10/01/2022 250,000 260,102 0.10 Societe Generale 3.25% 12/01/2022 200,000 207,150 0.08 Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 10,300,000 8,254,628 3.06 Guotai Junan Intl Holdings 4.25% 14/01/2022 600,000 621,500 0.23 Hongkong International Qingdao 3.75% 04/12/2020 1,000,000 1,014,688 0.38 HK Red Star Macalline Un 3.375% 21/09/2022 3,790,000 3,537,604 1.31 Vanke Real Estate Hk 2.95% 14/10/2021 300,000 308,536 0.11 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 1,600,000 1,644,714 0.61 Bharat Petroleum Corp 4.375% 24/01/2022 500,000 519,213 0.19 Bharat Petroleum Corp Lt 4.625% 25/10/2022 1,500,000 1,602,520 0.59 State Bank India/London 3.25% 24/01/2022 5,000,000 5,128,676 1.90 State Bank India/London 4% 24/01/2022 4,000,000 4,139,270 1.54 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri UTA 7.75% 13/02/2022 4,000,000 3,363,304 1.25 Indonesia Asahan Alumini 5.23% 15/11/2021 2,900,000 3,080,483 1.14 Perusahaan Listrik Negar 5.5% 22/11/2021 200,000 213,392 0.08 ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 10,000,000 10,756,051 3.99 JapanJapanJapanJapan Central Nippon Expresswy 2.567% 02/11/2021 200,000 208,505 0.08 Orix Corp 3.2% 19/01/2022 200,000 207,462 0.08 LuxembourgLuxembourgLuxembourgLuxembourg Atento Luxco 1 Sa 6.125% 10/08/2022 3,400,000 3,310,536 1.23 Spic Lux Latam Re Ener 4.25% 30/10/2021 1,500,000 1,566,626 0.58 MauritiusMauritiusMauritiusMauritius Neerg Energy Ltd 6% 13/02/2022 1,000,000 1,005,481 0.37 UPL Corp Ltd 3.25% 13/10/2021 3,715,000 3,817,887 1.42 MexicoMexicoMexicoMexico BBVA Bancomer Sa Texas 6.5% 10/03/2021 361,000 369,769 0.14


- 37 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 SepAs At 30 SepAs At 30 SepAs At 30 September 2020tember 2020tember 2020tember 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Netherlands Netherlands Netherlands Netherlands Syngenta Finance Nv 3.933% 23/04/2021 1,800,000 1,854,102 0.69 PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 10,000,000 10,426,250 3.87 People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”) Chongqing Nanan Con Dev 3.625% 19/07/2021 1,170,000 1,190,598 0.44 Gansu Electic Power 6.25% 04/12/2021 4,400,000 4,588,529 1.70 Gansu Highway Aviation 6.25% 02/08/2021 2,500,000 2,613,108 0.97 Jiaxing City Inv + Dev 4.4% 03/01/2021 1,180,000 1,199,176 0.44 Wuhan Real Estate 5.7% 09/08/2021 10,000,000 10,282,627 3.82 XJ Financial Invest 7.5% 21/03/2022 400,000 404,823 0.15 SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 2.375% 15/09/2021 6,331,000 6,381,429 2.37 Indika Energy Cap ii Pte 6.875% 10/04/2022 800,000 827,058 0.31 New Dian Group Pte Ltd 7.375% 23/04/2021 513,000 509,097 0.19 SupranationalSupranationalSupranationalSupranational Eastern + Southern Afric 5.375% 14/03/2022 6,400,000 6,500,628 2.41 South AfriSouth AfriSouth AfriSouth Africacacaca Transnet Soc Ltd 4% 26/07/2022 4,400,000 4,385,182 1.63 South KoreaSouth KoreaSouth KoreaSouth Korea Export Import Bank Korea 2.75% 25/01/2022 8,000,000 8,262,590 3.07 KEB Hana Bank 2.125% 18/10/2021 200,000 204,942 0.08 Korea Midland Power Co 3.375% 22/01/2022 200,000 208,367 0.08 Nonghyup Bank 1.875% 12/09/2021 200,000 202,282 0.08 Woori Bank 2.625% 20/07/2021 200,000 203,973 0.08 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Commercial Bank 2.75% 05/10/2021 3,000,000 3,094,567 1.15 Burgan Senior Spc Ltd 3.125% 14/09/2021 2,284,000 2,323,216 0.86 Dolphin Energy Ltd 5.5% 15/12/2021 589,000 628,748 0.23 United States United States United States United States of of of of America America America America Antero Resources Corp 5.125% 01/12/2022 5,500,000 4,576,458 1.70 Ascent Resources/Aru Fin 10% 01/04/2022 3,300,000 3,415,500 1.27 Aviation Capital Group 2.875% 20/01/2022 200,000 199,619 0.07 CNX Resources Corp 5.875% 15/04/2022 2,100,000 2,156,890 0.80 Daimler Finance Na Llc 3.75% 05/11/2021 200,000 209,727 0.08 FMR Llc 5.35% 15/11/2021 250,000 268,523 0.10


- 38 -

Invesco Invesco Invesco Invesco Global Bond Fixed Maturity Fund 2022Global Bond Fixed Maturity Fund 2022Global Bond Fixed Maturity Fund 2022Global Bond Fixed Maturity Fund 2022 Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt secuListed/quoted debt secuListed/quoted debt secuListed/quoted debt securities (Continued)rities (Continued)rities (Continued)rities (Continued) United StUnited StUnited StUnited States ates ates ates of of of of America America America America (Continued)(Continued)(Continued)(Continued) QEP Resources Inc 5.375% 01/10/2022 4,700,000 3,980,313 1.48 Qwest Corp 6.75% 01/12/2021 8,612,000 9,288,473 3.45 SM Energy Co 6.125% 15/11/2022 4,700,000 3,765,212 1.40 Volkswagen Group America 4% 12/11/2021 200,000 210,419 0.08 ────────── ──────

Financial assets at fair value Financial assets at fair value Financial assets at fair value Financial assets at fair value through profit or lossthrough profit or lossthrough profit or lossthrough profit or loss 268,089,900268,089,900268,089,900268,089,900 99.4899.4899.4899.48 Derivatives Derivatives Derivatives Derivatives –––– forward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contractsforward foreign exchange contracts Buy HKD392,671 / sell USD50,683 – 5 Oct 2020 (16) - ────────── ──────

Financial liabilities at fair value Financial liabilities at fair value Financial liabilities at fair value Financial liabilities at fair value through profit or lossthrough profit or lossthrough profit or lossthrough profit or loss ((((16161616)))) ---- Total investmentsTotal investmentsTotal investmentsTotal investments 268,089,884268,089,884268,089,884268,089,884 99.4899.4899.4899.48 Cash and other net assetsCash and other net assetsCash and other net assetsCash and other net assets 1,394,309 0.52 ────────── ──────

Net assets attributabNet assets attributabNet assets attributabNet assets attributable to unitholdersle to unitholdersle to unitholdersle to unitholders 269,484269,484269,484269,484,193,193,193,193 100.00100.00100.00100.00 ══════════ ══════




- 39 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six MonthFor The Six MonthFor The Six MonthFor The Six Months Ended 30 September 2020s Ended 30 September 2020s Ended 30 September 2020s Ended 30 September 2020



2020 Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Termin 4.45% 15/12/2022 - 2,000,000 - 2,000,000 Scentre Group Trust ½ 2.375% 28/04/2021 200,000 - - 200,000 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 5,850,000 - - 5,850,000 CBQ Finance Ltd 3.25% 13/06/2021 2,000,000 - - 2,000,000 Concord New Energy Group 7.9% 23/01/2021 4,500,000 - - 4,500,000

BritainBritainBritainBritain Coca Cola European Partner 4.5% 01/09/2021 200,000 - - 200,000 HSBC Holdings Plc 2.65% 05/01/2022 200,000 - - 200,000 Lloyds Banking Group Plc 3% 11/01/2022 200,000 - 200,000 - Santander Uk Group Holdings 2.875% 05/08/2021 200,000 - 200,000 - Standard Chartered Plc 5.7% 25/01/2022 10,600,000 - 3,000,000 7,600,000 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands 800,000 - 200,000 600,000 Bi Hai Co Ltd 6.25% 05/03/2022 1,600,000 2,000,000 - 3,600,000 Central Plaza Dev Ltd 3.875% 30/01/2021 1,500,000 - - 1,500,000 Chouzhou International Inv Ltd 4% 05/12/2020 4,000,000 - - 4,000,000 CLP Power Hk Financing 4.75% 12/07/2021 200,000 - - 200,000 New Metro Global Ltd 7.125% 23/05/2021 4,700,000 - 3,700,000 1,000,000 Yuexiu Reit Mtn Co 4.75% 27/04/2021 6,400,000 - - 6,400,000 Yunnan Energy Investment Ovr 6.25% 29/11/2021 10,500,000 - - 10,500,000 Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 10,000,000 - - 10,000,000 Capital Environment Holdings 5.625% 11/09/2021 3,300,000 - - 3,300,000 CFLD Cayman Investment 9% 31/07/2021 4,500,000 - - 4,500,000 China Aoyuan Group Ltd 8.5% 23/01/2022 4,300,000 - 3,000,000 1,300,000


- 40 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Movement of Portfolio InvestmentMovement of Portfolio InvestmentMovement of Portfolio InvestmentMovement of Portfolio Investments (Continued) s (Continued) s (Continued) s (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




Listed/quoted Listed/quoted Listed/quoted Listed/quoted debt securities debt securities debt securities debt securities (Continued)(Continued)(Continued)(Continued)

Cayman IslandsCayman IslandsCayman IslandsCayman Islands (Continued)(Continued)(Continued)(Continued) Country Garden Holdings 7.125% 27/01/2022 10,000,000 - - 10,000,000

Dib Sukuk Ltd 3.6% 30/03/2021 1,000,000 - - 1,000,000 EHI Car Services Ltd 5.875% 14/08/2022 4,200,000 - - 4,200,000

EI Sukuk Co Ltd 3.542% 31/05/2021 200,000 - - 200,000 Foxconn Far East Ltd 2.25% 23/09/2021 200,000 - - 200,000

Hutch Whampoa International 11 Ltd 4.625% 13/01/2022 200,000 - - 200,000

QNB Finance Ltd 2.125% 07/09/2021 200,000 - 200,000 - Ronshine China10.5% 01/03/2022 - 2,900,000 - 2,900,000 Shimao Property Holdings 6.375% 15/10/2021 9,500,000 - - 9,500,000

Sib Sukuk Co iii Ltd 3.084% 08/09/2021 2,800,000 - - 2,800,000

Sunac China Holdings Ltd 7.25% 14/06/2022 4,100,000 - 1,500,000 2,600,000

Unity 1 Sukuk Limited 3.86% 30/11/2021 7,323,000 - - 7,323,000

Yuzhou Properties Co Ltd 8.625% 23/01/2022 4,500,000 - - 4,500,000 ChileChileChileChile Empresa Nacional De Petr 4.75% 06/12/2021 200,000 - - 200,000 DenmarkDenmarkDenmarkDenmark Danske Bank A/S 5% 12/01/2022 950,000 - - 950,000 FranceFranceFranceFrance Credit Agricole London 3.375% 10/01/2022 250,000 - - 250,000 Societe Generale 3.25% 12/01/2022 200,000 - - 200,000 GuernseyGuernseyGuernseyGuernsey Cred Suis Group Fun Ltd 3.45% 16/04/2021 250,000 - 250,000 -


- 41 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 ListedListedListedListed/quoted investments /quoted investments /quoted investments /quoted investments (Continued)(Continued)(Continued)(Continued)


Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 10,300,000 - - 10,300,000 Guotai Junan Intl Hldgs 4.25% 14/01/2022 - 600,000 - 600,000 Hongkong Intl Qingdao 3.75% 04/12/2020 3,000,000 - 2,000,000 1,000,000 HK Red Star Macalline Un 3.375% 21/09/2022 - 3,790,000 - 3,790,000 Vanke Real Estate Hk 2.95% 14/10/2021 300,000 - - 300,000 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 1,600,000 - - 1,600,000 Bharat Petroleum Corp 4.375% 24/01/2022 - 500,000 - 500,000 Bharat Petroleum Corp Lt 4.625% 25/10/2022 - 1,500,000 - 1,500,000 State Bank India/London 3.25% 24/01/2022 5,000,000 - - 5,000,000 State Bank India/London 4% 24/01/2022 4,000,000 - - 4,000,000 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 4,000,000 - 4,000,000 Indonesia Asahan Alumini 5.23% 15/11/2021 - 2,900,000 - 2,900,000 Perusahaan Listrik Negar 5.5% 22/11/2021 200,000 - - 200,000 IrelandIrelandIrelandIreland Credit Bank Of Moscow (C 5.875% 07/11/2021 2,000,000 - 2,000,000 - ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 10,000,000 - - 10,000,000


- 42 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 MoMoMoMovement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investmenListed/quoted investmenListed/quoted investmenListed/quoted investments ts ts ts (Continued)(Continued)(Continued)(Continued) Listed/quoted debtListed/quoted debtListed/quoted debtListed/quoted debt securities securities securities securities (Continued)(Continued)(Continued)(Continued)

JapanJapanJapanJapan Central Nippon Expressway 2.567% 02/11/2021 200,000 - - 200,000

Mitsubishi Ufj Lease Finance 2.25% 07/09/2021 200,000 - 200,000 - Orix Corp 3.2% 19/01/2022 200,000 - - 200,000 LuxembourgLuxembourgLuxembourgLuxembourg Spic Lux Latam Re Ener 4.25% 30/10/2021 - 1,500,000 - 1,500,000 Atento Luxco 1 Sa 6.125% 10/08/2022 3,400,000 - - 3,400,000 MalaysiaMalaysiaMalaysiaMalaysia Press Metal Labuan Ltd 4.8% 30/10/2022 3,600,000 - 3,600,000 - MauriMauriMauriMauritiustiustiustius Neerg Energy Ltd 6% 13/02/2022 1,000,000 - - 1,000,000 Upl Corp Ltd 3.25% 13/10/2021 3,715,000 - - 3,715,000 MexicoMexicoMexicoMexico BBVA Bancomer Sa Texas 6.5% 10/03/2021 361,000 - - 361,000 NetherlandsNetherlandsNetherlandsNetherlands Syngenta Finance Nv 3.933% 23/04/2021 1,800,000 - - 1,800,000 PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 10,500,000 - 500,000 10,000,000 People’s People’s People’s People’s Republic Republic Republic Republic of of of of China (“China”)China (“China”)China (“China”)China (“China”) CD Eco Tech Sa 7.5% 12/02/2022 3,000,000 - 3,000,000 - Chongqing Nanan Con Dev 3.625% 19/07/2021 1,170,000 - - 1,170,000 Gansu Electic Power 6.25% 04/12/2021 4,600,000 - 200,000 4,400,000 Gansu Highway Aviation 6.25% 02/08/2021 800,000 1,700,000 - 2,500,000 Jiaxing City Inv And Dev 4.4% 03/01/2021 1,180,000 - - 1,180,000 Wuhan Real Estate 5.7% 09/08/2021 10,000,000 - - 10,000,000 XJ Financial Invest 7.5% 21/03/2022 400,000 - - 400,000


- 43 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six MoFor The Six MoFor The Six MoFor The Six Months Ended 30 September 2020nths Ended 30 September 2020nths Ended 30 September 2020nths Ended 30 September 2020




Listed/quoted Listed/quoted Listed/quoted Listed/quoted debt securities debt securities debt securities debt securities (Continued)(Continued)(Continued)(Continued)

SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 2.375% 15/09/2021 5,881,000 450,000 - 6,331,000 Indika Energy Cap ii Pte 6.875% 10/04/2022 - 800,000 - 800,000 New Dian Group Pte Ltd 7.375% 23/04/2021 - 513,000 - 513,000 SSSSupranationalupranationalupranationalupranational Eastern And Southern Afric 5.375% 14/03/2022 6,400,000 - - 6,400,000 South AfricaSouth AfricaSouth AfricaSouth Africa Transnet Soc Ltd 4% 26/07/2022 9,200,000 - 4,800,000 4,400,000 South KoreaSouth KoreaSouth KoreaSouth Korea Export Import Bank Korea 2.75% 25/01/2022 8,000,000 - - 8,000,000 KEB Hana Bank 2.125% 18/10/2021 200,000 - - 200,000 Korea Midland Power Co 3.375% 22/01/2022 200,000 - - 200,000 Nonghyup Bank 1.875% 12/09/2021 200,000 - - 200,000 Woori Bank 2.625% 20/07/2021 200,000 - - 200,000 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Commercial Bank 2.75% 05/10/2021 3,000,000 - - 3,000,000 Burgan Senior Spc Ltd 3.125% 14/09/2021 2,284,000 - - 2,284,000 Dolphin Energy Ltd 5.5% 15/12/2021 589,000 - - 589,000 United States United States United States United States of of of of AmericaAmericaAmericaAmerica Antero Resources Corp 5.125% 01/12/2022 5,500,000 - - 5,500,000 Ascent Resources/Aru Fin 10% 01/04/2022 3,300,000 - - 3,300,000 Aviation Capital Group 2.875% 20/01/2022 200,000 - - 200,000 CNX Resources Corp 5.875% 15/04/2022 4,700,000 - 2,600,000 2,100,000 Daimler Finance Na Llc 3.75% 05/11/2021 200,000 - - 200,000 DPL Inc 7.25% 15/10/2021 1,434,000 - 1,434,000 -


- 44 -

Invesco Global Bond Fixed MaturitInvesco Global Bond Fixed MaturitInvesco Global Bond Fixed MaturitInvesco Global Bond Fixed Maturity Fund 2022y Fund 2022y Fund 2022y Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




LisLisLisListed/quoted debt securities ted/quoted debt securities ted/quoted debt securities ted/quoted debt securities (Continued)(Continued)(Continued)(Continued)

United States United States United States United States of of of of America America America America (Continued)(Continued)(Continued)(Continued) FMR Llc 5.35% 15/11/2021 250,000 - - 250,000 QEP Resources Inc 5.375% 01/10/2022 4,700,000 - - 4,700,000 Qwest Corp 6.75% 01/12/2021 8,612,000 - - 8,612,000 Range Resources Corp 5% 15/08/2022 4,800,000 - 4,800,000 - SM Energy Co 6.125% 15/11/2022 4,700,000 - - 4,700,000 US Treasury Note/Bond 1.125% 30/06/2021 -

2,300,000 2,300,000 -

Volkswagen Group America 4% 12/11/2021 200,000 - - 200,000


- 45 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



change


September 2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continued)(Continued)(Continued)(Continued)

Derivatives Derivatives Derivatives Derivatives –––– forward foreignforward foreignforward foreignforward foreign exchange contractsexchange contractsexchange contractsexchange contracts Buy HKD / sell USD (260) 244 (16)


- 46 -

Invesco Global Bond Fixed MaturiInvesco Global Bond Fixed MaturiInvesco Global Bond Fixed MaturiInvesco Global Bond Fixed Maturity Fund 2022ty Fund 2022ty Fund 2022ty Fund 2022 ---- IIIIIIII Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securities AustraliaAustraliaAustraliaAustralia

Adani Abbot Point Termin 4.45% 15/12/2022 7,000,000 6,429,968 2.75 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 4,150,000 4,201,696 1.80 CBQ Finance Ltd 3.25% 13/06/2021 500,000 512,680 0.22 Concord New Energy Group 7.9% 23/01/2021 3,500,000 3,530,353 1.51 BritainBritainBritainBritain Barclays Plc 3.2% 10/08/2021 200,000 205,518 0.09 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Bi Hai Co Ltd 6.25% 05/03/2022 7,500,000 7,571,269 3.24 Hanhui International Ltd 4.37% 22/08/2022 7,500,000 7,722,765 3.30 Yuexiu Reit Mtn Co 4.75% 27/04/2021 7,700,000 7,974,732 3.41 Yunnan Energy Inst Ovr 4.25% 14/11/2022 1,350,000 1,375,172 0.59 Yunnan Energy Inst Ovr 6.25% 29/11/2021 2,500,000 2,627,942 1.12 Cayman IslandsCayman IslandsCayman IslandsCayman Islands BOS Funding Ltd 4.23% 07/03/2022 8,700,000 8,915,264 3.81 Capital Environment Hlds 5.625% 11/09/2021 2,000,000 2,058,250 0.88 CFLD Cayman Investment 9% 31/07/2021 3,400,000 3,438,250 1.47 Country Garden Hldgs 4.75% 25/07/2022 400,000 412,306 0.18 Country Garden Hldgs 7.125% 27/01/2022 7,000,000 7,294,232 3.12 Country Garden Hldgs 7.125% 25/04/2022 250,000 264,886 0.11 Dib Sukuk Ltd 3.6% 30/03/2021 200,000 202,585 0.09 EHI Car Services Ltd 5.875% 14/08/2022 3,350,000 2,948,404 1.26 EI Sukuk Co Ltd 3.542% 31/05/2021 200,000 205,769 0.09 Hutch Whampoa Int 11 Ltd 4.625% 13/01/2022 300,000 316,554 0.14 Ronshine China 10.5% 01/03/2022 3,400,000 3,574,212 1.53 Shimao Group Hldgs Ltd 6.375% 15/10/2021 7,400,000 7,858,021 3.36 Sib Sukuk Co iii Ltd 3.084% 08/09/2021 2,000,000 2,044,441 0.87 Swire Pacific Mtn Fin 4.5% 28/02/2022 500,000 522,659 0.22 Unity 1 Sukuk Limited 3.86% 30/11/2021 7,500,000 7,730,429 3.30 Yuzhou Group 8.625% 23/01/2022 1,300,000 1,363,408 0.58 DenmarkDenmarkDenmarkDenmark Danske Bank A/S 5% 12/01/2022 5,000,000 5,307,604 2.27 Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 8,500,000 6,812,072 2.91 HK Red Star Macalline Un 3.375% 21/09/2022 3,250,000 3,033,565 1.30 HK Xiangyu Investment Co 4.5% 30/01/2023 3,000,000 3,105,346 1.33 Hongkong International Qingdao 4.25% 04/12/2022 500,000 515,656 0.22


- 47 -

Invesco Global BoInvesco Global BoInvesco Global BoInvesco Global Bond Fixed Maturity Fund 2022nd Fixed Maturity Fund 2022nd Fixed Maturity Fund 2022nd Fixed Maturity Fund 2022 ---- IIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Hong KongHong KongHong KongHong Kong Huaxin Pharmaceutical Hk 6.8% 15/03/2021 1,300,000 1,284,429 0.55 Sino Trendy Investment 3.875% 25/01/2021 5,000,000 5,073,045 2.17 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 5,300,000 5,448,115 2.33 Bharat Petroleum Corp 4.375% 24/01/2022 500,000 519,213 0.22 Export Import Bk India 3.125% 20/07/2021 280,000 285,027 0.12 Reliance Industries Ltd 5.4% 14/02/2022 4,900,000 5,197,198 2.22 State Bank India/London 3.25% 24/01/2022 4,500,000 4,615,809 1.97 State Bank India/London 4% 24/01/2022 1,000,000 1,034,818 0.44 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 4,000,000 3,363,304 1.44 Indonesia Asahan Alumini 5.23% 15/11/2021 6,300,000 6,692,083 2.86 Perusahaan Listrik Negar 5.5% 22/11/2021 500,000 533,479 0.23 Isle Isle Isle Isle oooof f f f ManManManMan Sasol Financing Int 4.5% 14/11/2022 3,500,000 3,447,140 1.47 ItalyItalyItalyItaly Intesa Sanpaolo Spa 3.375% 12/01/2023 6,500,000 6,797,867 2.91 Unicredit Spa 6.572% 14/01/2022 7,300,000 7,851,917 3.36 LuxembourgLuxembourgLuxembourgLuxembourg Atento Luxco 1 Sa 6.125% 10/08/2022 3,500,000 3,407,905 1.46 Spic Lux Latam Re Ener 4.25% 30/10/2021 3,000,000 3,133,252 1.34 MalaysiaMalaysiaMalaysiaMalaysia SD International Sukuk 6.3% 09/05/2022 3,000,000 2,744,599 1.17 MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 6,800,000 6,988,326 2.99 Netherlands Netherlands Netherlands Netherlands Syngenta Finance Nv 3.933% 23/04/2021 500,000 515,028 0.22 PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 7,300,000 7,611,163 3.25


- 48 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Schedule of Investments (ContiSchedule of Investments (ContiSchedule of Investments (ContiSchedule of Investments (Continued) nued) nued) nued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued) People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”)People’s Republic of China (“China”) Chongqing Nanan Con Dev 3.625% 19/07/2021 7,800,000 7,937,319 3.39 Gansu Electic Power 6.25% 04/12/2021 1,800,000 1,877,125 0.80 Gansu Highway Aviation 6.25% 02/08/2021 1,000,000 1,045,243 0.45 Jiaxing City Inv + Dev 4.4% 03/01/2021 1,000,000 1,016,251 0.43 XJ Financial Invest 7.5% 21/03/2022 2,400,000 2,428,936 1.04 SingaporeSingaporeSingaporeSingapore Indika Energy Cap ii Pte 6.875% 10/04/2022 450,000 465,220 0.20 New Dian Group Pte Ltd 7.375% 23/04/2021 550,000 545,816 0.23 SupranationalSupranationalSupranationalSupranational Banque Ouest Africaine D 5.5% 06/05/2021 3,500,000 3,655,970 1.56 Eastern + Southern Afric 5.375% 14/03/2022 4,500,000 4,570,754 1.95 South Korea South Korea South Korea South Korea Mirae Asset Daewoo Co 4.125% 07/11/2021 300,000 312,583 0.13 Thailand Thailand Thailand Thailand TMB Bank Pcl 3.108% 01/10/2021 1,000,000 1,030,179 0.44 United ArUnited ArUnited ArUnited Arab ab ab ab EmiratesEmiratesEmiratesEmirates Abu Dhabi Commercial Bank 2.75% 05/10/2021 500,000 515,761 0.22 Burgan Senior Spc Ltd 3.125% 14/09/2021 500,000 508,585 0.22 Dolphin Energy Ltd 5.5% 15/12/2021 200,000 213,497 0.09 United States United States United States United States of of of of America America America America Air Lease Corp 3.5% 15/01/2022 2,500,000 2,583,274 1.10 Antero Resources Corp 5.125% 01/12/2022 3,600,000 2,995,500 1.28 Ascent Resources/Aru Fin 10% 01/04/2022 3,600,000 3,726,000 1.59 CNX Resources Corp 5.875% 15/04/2022 1,429,000 1,467,712 0.63 Office PPTY Income Trust 4.15% 01/02/2022 5,000,000 5,072,636 2.17 Range Resources Corp 5% 15/03/2023 2,691,000 2,562,430 1.10 SM Energy Co 6.125% 15/11/2022 3,400,000 2,723,770 1.16 ────────── ──────

Financial assets at fair value through profit or Financial assets at fair value through profit or Financial assets at fair value through profit or Financial assets at fair value through profit or losslosslossloss 233,874,287233,874,287233,874,287233,874,287 99999999.98.98.98.98


- 49 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (ContListed/quoted debt securities (ContListed/quoted debt securities (ContListed/quoted debt securities (Continued)inued)inued)inued) Derivatives Derivatives Derivatives Derivatives –––– spot foreign exchange spot foreign exchange spot foreign exchange spot foreign exchange contractscontractscontractscontracts Buy HKD120,407 / sell USD15,541 – 6 Oct 2020 (5) - ────────── ──────

Financial liabilities at fair Financial liabilities at fair Financial liabilities at fair Financial liabilities at fair value through profit or lossvalue through profit or lossvalue through profit or lossvalue through profit or loss (5(5(5(5)))) ---- Total investmentsTotal investmentsTotal investmentsTotal investments 233,874,282233,874,282233,874,282233,874,282 99.99.99.99.98989898 CCCCash and other net assetsash and other net assetsash and other net assetsash and other net assets 57,379 0.02 ────────── ──────





- 50 -

Invesco Global Bond Fixed Invesco Global Bond Fixed Invesco Global Bond Fixed Invesco Global Bond Fixed Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoteListed/quoteListed/quoteListed/quoted investmentsd investmentsd investmentsd investments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Terminal 4.45% 15/12/2022 7,000,000 - - 7,000,000 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 4,150,000 - - 4,150,000 CBQ Finance Ltd 3.25% 13/06/2021 500,000 - - 500,000 Concord New Energy Grp 7.9% 23/01/2021 3,500,000 - - 3,500,000 BritainBritainBritainBritain Barclays Plc 3.2% 10/08/2021 500,000 - 300,000 200,000 Lloyds Banking Group Plc 3% 11/01/2022 200,000 - 200,000 - British Virgin IBritish Virgin IBritish Virgin IBritish Virgin Islandsslandsslandsslands Bi Hai Co Ltd 6.25% 05/03/2022 7,500,000 - - 7,500,000 Hanhui International Ltd 4.37% 22/08/2022 7,500,000 - - 7,500,000 New Metro Global Ltd 7.125% 23/05/2021 3,300,000 - 3,300,000 - Yuexiu Reit Mtn Co 4.75% 27/04/2021 8,100,000 - 400,000 7,700,000 Yunnan Energy Inst Ovr 4.25% 14/11/2022 - 1,350,000 - 1,350,000 Yunnan Energy Inst Ovr 6.25% 29/11/2021 - 2,500,000 - 2,500,000 Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 8,700,000 - - 8,700,000 Bright Scholar Education 7.45% 31/07/2022 3,300,000 - 3,300,000 - Capital Environment Holdings 5.625% 11/09/2021 2,000,000 - - 2,000,000 CFLD Cayman Investment 9% 31/07/2021 3,400,000 - - 3,400,000 China Aoyuan Group Ltd 8.5% 23/01/2022 3,300,000 3,300,000 - Country Garden Holdings 4.75% 25/07/2022 400,000 - - 400,000 Country Garden Holdings 7.125% 27/01/2022 5,950,000 1,050,000 - 7,000,000 Country Garden Holdings 7.125% 25/04/2022 250,000 - - 250,000 Dib Sukuk Ltd 3.6% 30/03/2021 200,000 - - 200,000 EHI Car Services Ltd 5.875% 14/08/2022 3,350,000 - - 3,350,000


- 51 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




Cayman IslandsCayman IslandsCayman IslandsCayman Islands ((((Continued)Continued)Continued)Continued) EI Sukuk Co Ltd 3.542% 31/05/2021 200,000 - - 200,000 Hutch Whampoa Int 11 Ltd 4.625% 13/01/2022 500,000 - 200,000 300,000

Logan Property Holdings 5.75% 03/01/2022 2,500,000 - 2,500,000 -

QNB Finance Ltd 2.125% 07/09/2021 200,000 - 200,000 - Ronshine China 10.5% 01/03/2022 3,400,000 - - 3,400,000 Shimao Property Holdings 6.375% 15/10/2021 7,400,000 - - 7,400,000

Sib Sukuk Co iii Ltd 3.084% 08/09/2021 2,000,000 - - 2,000,000 Sunac China Holdings Ltd 7.25% 14/06/2022 800,000 - 800,000 -

Swire Pacific Mtn Fin 4.5% 28/02/2022 500,000 - - 500,000 Unity 1 Sukuk Limited 3.86% 30/11/2021 7,500,000 - - 7,500,000 Yuzhou Properties Co Ltd 8.625% 23/01/2022 3,300,000 2,000,000 1,300,000

DenmarkDenmarkDenmarkDenmark Danske Bank A/S 5% 12/01/2022 5,000,000 - - 5,000,000 Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 8,500,000 - - 8,500,000 HK Red Star Macalline Un 3.375% 21/09/2022 - 3,250,000 - 3,250,000 HK Xiangyu Investment Co 4.5% 30/01/2023 3,000,000 - - 3,000,000 Hongkong International Qingdao 4.25% 04/12/2022 500,000 - - 500,000 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 1,300,000 - - 1,300,000 Sino Trendy Investment 3.875% 25/01/2021 5,000,000 - - 5,000,000 Yanlord Land Hk Co Ltd 5.875% 23/01/2022 1,500,000 - 1,500,000 - IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 5,300,000 - - 5,300,000 Bharat Petroleum Corp 4.375% 24/01/2022 500,000 - - 500,000 Export Import Bk India 3.125% 20/07/2021 280,000 - - 280,000


- 52 -




2020 Listed/quoted investments Listed/quoted investments Listed/quoted investments Listed/quoted investments (Continued(Continued(Continued(Continued)))) Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued)

IndiaIndiaIndiaIndia (Continued)(Continued)(Continued)(Continued) Reliance Industries Ltd 5.4% 14/02/2022 (formerly known as Reliance Holdings USA 5.4% 14/02/2022) 4,900,000 - - 4,900,000 State Bank India/London 3.25% 24/01/2022 4,500,000 - - 4,500,000 State Bank India/London 4% 24/01/2022 1,000,000 - - 1,000,000 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 4,000,000 - 4,000,000 Indonesia Asahan Alumini 5.23% 15/11/2021 500,000 5,800,000 - 6,300,000 Perusahaan Listrik Negar 5.5% 22/11/2021 500,000 - - 500,000 Republic Of Indonesia 3.7% 08/01/2022 500,000 - 500,000 - Isle Isle Isle Isle of of of of ManManManMan Sasol Financing Int 4.5% 14/11/2022 - 3,500,000 - 3,500,000 ItalyItalyItalyItaly Intesa Sanpaolo Spa 3.375% 12/01/2023 7,500,000 - 1,000,000 6,500,000 Unicredit Spa 6.572% 14/01/2022 7,300,000 - - 7,300,000 JapanJapanJapanJapan Mitsubishi UFJ Lease And Fin 2.25% 07/09/2021 400,000 - 400,000 - LuxembourgLuxembourgLuxembourgLuxembourg Atento Luxco 1 Sa 6.125% 10/08/2022 3,500,000 - - 3,500,000 Spic Lux Latam Re Ener 4.25% 30/10/2021 - 3,000,000 - 3,000,000 MalaysiaMalaysiaMalaysiaMalaysia Press Metal Labuan Ltd 4.8% 30/10/2022 3,750,000 - 3,750,000 - RHB Bank 2.503% 06/10/2021 500,000 - 500,000 - SD International Sukuk 6.3% 09/05/2022 3,000,000 - - 3,000,000 MauritiusMauritiusMauritiusMauritius Neerg Energy Ltd 6% 13/02/2022 1,500,000 - 1,500,000 - UPL Corp Ltd 3.25% 13/10/2021 6,800,000 - - 6,800,000 NetherlandNetherlandNetherlandNetherlandssss Syngenta Finance Nv 3.933% 23/04/2021 500,000 - - 500,000


- 53 -





PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 7,500,000 - 200,000 7,300,000

People’s People’s People’s People’s RepRepRepRepublicublicublicublic ofofofof China (“China”) China (“China”) China (“China”) China (“China”) Chongqing Nanan Con Dev 3.625% 19/07/2021 7,800,000 - - 7,800,000 Gansu Electic Power 6.25% 04/12/2021 2,000,000 - 200,000 1,800,000 Gansu Highway Aviation 6.25% 02/08/2021 1,000,000 - - 1,000,000 Jiaxing City Inv And Dev 4.4% 03/01/2021 1,000,000 - - 1,000,000 XJ Financial Invest 7.5% 21/03/2022 1,400,000 1,000,000 - 2,400,000 SingaporeSingaporeSingaporeSingapore Indika Energy Cap ii Pte 6.875% 10/04/2022 - 450,000 - 450,000 New Dian Group Pte Ltd 7.375% 23/04/2021 - 550,000 - 550,000 SupranationalSupranationalSupranationalSupranational Banque Ouest Africaine D 5.5% 06/05/2021 3,500,000 - - 3,500,000 Eastern And Southern Afric 5.375% 14/03/2022 4,500,000 - - 4,500,000 - - South KoreaSouth KoreaSouth KoreaSouth Korea - - Mirae Asset Daewoo Co 4.125% 07/11/2021 300,000 - - 300,000 - - ThailandThailandThailandThailand - - TMB Bank/Cayman Islands 3.108% 01/10/2021 1,000,000 - - 1,000,000 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates - - Abu Dhabi Commercial Bank 2.75% 05/10/2021 500,000 - - 500,000 Burgan Senior Spc Ltd 3.125% 14/09/2021 500,000 - - 500,000 Dolphin Energy Ltd 5.5% 15/12/2021 200,000 - - 200,000


- 54 -





United States United States United States United States oooof Americaf Americaf Americaf America Air Lease Corp 3.5% 15/01/2022 - 2,500,000 - 2,500,000 Antero Resources Corp 5.375% 01/11/2021 800,000 - 800,000 - Antero Resources Corp 5.125% 01/12/2022 3,600,000 - - 3,600,000 Ascent Resources/Aru Fin 10% 01/04/2022 3,600,000 - - 3,600,000 CNX Resources Corp 5.875% 15/04/2022 3,200,000 - 1,771,000 1,429,000 EQT Corp 4.875% 15/11/2021 1,584,000 - 1,584,000 - Ford Motor Credit Co Llc 5.596% 07/01/2022 7,200,000 - 7,200,000 - Office Property Income Trust 4.15% 01/02/2022 5,000,000 - - 5,000,000 Range Resources Corp 5% 15/03/2023 3,600,000 - 909,000 2,691,000 SM Energy Co 6.125% 15/11/2022 3,400,000 - - 3,400,000 US Treasury Note/Bond 1.375% 31/05/2021 - 2,500,000 2,500,000 - US Treasury Note/Bond 1.125% 30/06/2021 - 1,600,000 1,600,000 -


- 55 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII MoMoMoMovement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) vement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



change



DDDDerivatives erivatives erivatives erivatives –––– forward foreignforward foreignforward foreignforward foreign exchange contractsexchange contractsexchange contractsexchange contracts Buy HKD / sell USD (4) (1) (5)


- 56 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted invListed/quoted invListed/quoted invListed/quoted investmentsestmentsestmentsestments Listed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securities AustraliaAustraliaAustraliaAustralia

Adani Abbot Point Termin 4.45% 15/12/2022 3,910,000 3,591,596 1.05 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 7,300,000 7,390,936 2.17 China Resources Gas Grp 4.5% 05/04/2022 1,187,000 1,265,561 0.37 Concord New Energy Grp 7.9% 23/01/2021 2,150,000 2,168,645 0.64 BritainBritainBritainBritain Vedanta Resources Ltd 6.375% 30/07/2022 3,500,000 2,855,342 0.84 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Avic Intl Finance Invest 4.375% 23/05/2021 1,050,000 1,080,976 0.32 Bi Hai Co Ltd 6.25% 05/03/2022 11,290,000 11,397,284 3.35 Bluestar Fin Holdings 3.5% 30/09/2021 3,800,000 3,862,535 1.13 Chouzhou International Inv Ltd 4.5% 30/05/2022 7,110,000 7,386,681 2.17 Guohui International Bvi 4.37% 09/07/2022 500,000 517,464 0.15 Haichuan International Investment 7.5% 29/11/2021 1,570,000 1,596,155 0.47 Hanhui International Ltd 4.37% 22/08/2022 11,250,000 11,584,147 3.40 Hejun Shunze Investment 12% 25/04/2021 2,800,000 3,001,600 0.88 Hong Seng Ltd 9.875% 27/08/2022 2,750,000 2,799,544 0.82 Huarong Finance 2017 Co 3.75% 27/04/2022 4,270,000 4,465,381 1.31 Knight Castle Investments 7.99% 23/01/2021 2,200,000 1,724,332 0.51 Sino Ocean Land Iv 5.25% 30/04/2022 3,000,000 3,172,020 0.93 Tsinghua Unic Ltd 4.75% 31/01/2021 5,600,000 4,272,333 1.25 Yuexiu Reit Mtn Co 4.75% 27/04/2021 4,900,000 5,074,829 1.49 Yunnan Energy Inst Ovr 6.25% 29/11/2021 10,700,000 11,247,590 3.30 Zhongyuan Sincere Invst 3.75% 19/01/2021 2,000,000 2,025,800 0.59 Cayman Cayman Cayman Cayman IslandsIslandsIslandsIslands Azure Nova International 3.5% 21/03/2022 2,290,000 2,352,970 0.69 Bos Funding Ltd 4.23% 07/03/2022 11,000,000 11,272,173 3.31 Capital Environment Hlds 5.625% 11/09/2021 1,000,000 1,029,125 0.30 Central CHN Real Estate 6.75% 08/11/2021 1,700,000 1,758,327 0.52 CK Hutchison Intl 17 Ltd 2.875% 05/04/2022 2,000,000 2,083,372 0.61 Country Garden Hldgs 4.75% 25/07/2022 1,300,000 1,339,996 0.39 Country Garden Hldgs 7.125% 25/04/2022 11,150,000 11,813,928 3.47 Dib Sukuk Ltd 3.664% 14/02/2022 6,000,000 6,203,979 1.82 EHI Car Services Ltd 5.875% 14/08/2022 5,800,000 5,104,700 1.50 Red Sun Properties Grp 10.5% 03/10/2022 3,800,000 4,115,900 1.21 Shimao Group Hldgs Ltd 4.75% 03/07/2022 7,500,000 7,776,272 2.28 Sinic Holdings Group Co 10.5% 18/06/2022 2,100,000 2,173,497 0.64 Sun Hung Kai Prop (Cap) 4.5% 14/02/2022 1,200,000 1,260,162 0.37 Swire Pacific Mtn Fin 4.5% 28/02/2022 560,000 585,378 0.17 Unity 1 Sukuk Limited 3.86% 30/11/2021 11,000,000 11,337,963 3.33 Zhenro Properties Group 8.7% 03/08/2022 3,500,000 3,627,808 1.07


- 57 -

Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022 Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quListed/quListed/quListed/quoted debt oted debt oted debt oted debt securities (securities (securities (securities (Continued)Continued)Continued)Continued) DenmarkDenmarkDenmarkDenmark Danske Bank A/S 5% 12/01/2022 2,000,000 2,123,042 0.62 Hong KongHong KongHong KongHong Kong Bocom Leasing Mgmt 4% 22/01/2022 3,000,000 3,111,745 0.91 Caiyun International Investment 5.5% 08/04/2022 12,800,000 10,258,179 3.01 CNAC Hk Finbridge Co Ltd 3.5% 19/07/2022 2,300,000 2,376,410 0.70 HK Red Star Macalline Un 3.375% 21/09/2022 3,340,000 3,117,572 0.92 Hongkong International Qingdao 4.25% 04/12/2022 1,210,000 1,247,888 0.37 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 2,000,000 1,976,044 0.58 Sino Trendy Invest 3.875% 25/01/2021 8,000,000 8,116,872 2.38 Yango Justice International 10.25% 18/03/2022 4,100,000 4,289,320 1.26 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 8,574,000 8,813,611 2.59 ICICI Bank Ltd/Dubai 3.25% 09/09/2022 3,453,000 3,533,916 1.04 Reliance Industries Ltd 5.4% 14/02/2022 2,189,000 2,321,769 0.68 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 4,000,000 3,363,304 0.99 Indonesia Asahan Alumini 5.23% 15/11/2021 9,000,000 9,560,119 2.81 Isle Isle Isle Isle of of of of ManManManMan Sasol Financing Int 4.5% 14/11/2022 3,000,000 2,954,691 0.87 ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 11,000,000 11,831,656 3.47 LuxembourgLuxembourgLuxembourgLuxembourg Spic Lux Latam Re Ener 4.25% 30/10/2021 3,276,000 3,421,511 1.00 MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 1,350,000 1,049,156 0.31 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 4,000,000 3,493,333 1.03 PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 1,600,000 1,668,200 0.49 People’s Republic of China People’s Republic of China People’s Republic of China People’s Republic of China (“China”)(“China”)(“China”)(“China”) Anhui Prov Investment 4.875% 18/10/2021 500,000 529,303 0.16 Gansu Electic Power 6.25% 04/12/2021 8,000,000 8,342,780 2.45 Gansu Highway Aviation 6.25% 02/08/2021 200,000 209,049 0.06


- 58 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 SchedulSchedulSchedulSchedule of Investments (Continued) e of Investments (Continued) e of Investments (Continued) e of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) People’s Republic of ChPeople’s Republic of ChPeople’s Republic of ChPeople’s Republic of China (“China”)ina (“China”)ina (“China”)ina (“China”) Gansu Highway Aviation 3.875% 05/07/2022 8,500,000 8,727,216 2.56 Grand Automotive Service 8.625% 08/04/2022 3,550,000 3,173,434 0.93 XJ Financial Invest 7.5% 21/03/2022 4,000,000 4,048,227 1.19 Zhuzhou City Construct 5.7% 24/05/2022 4,000,000 4,250,433 1.25 SSSSaudi Arabiaaudi Arabiaaudi Arabiaaudi Arabia Dar Al Arkan Sukuk Co Lt 6.875% 10/04/2022 3,000,000 3,105,289 0.91 Saudi Arabian Oil Co 2.75% 16/04/2022 3,000,000 3,113,038 0.91 SingaporeSingaporeSingaporeSingapore Indika Energy Cap ii Pte 6.875% 10/04/2022 1,000,000 1,033,823 0.30 New Dian Group Pte Ltd 7.375% 23/04/2021 10,440,000 10,360,578 3.04 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 1,700,000 1,753,875 0.51 Eastern + Southern Afric 5.375% 14/03/2022 6,900,000 7,008,490 2.06 United ArUnited ArUnited ArUnited Arab ab ab ab EmiratesEmiratesEmiratesEmirates Abu Dhabi Commercial Bnk 2.75% 05/10/2021 5,000,000 5,157,612 1.51 Abu Dhabi National Energ 5.875% 13/12/2021 6,000,000 6,481,794 1.90 Burgan Senior Spc Ltd 3.125% 14/09/2021 2,150,000 2,186,915 0.64 United States United States United States United States of of of of America America America America Air Lease Corp 3.5% 15/01/2022 5,300,000 5,476,541 1.61 Ascent Resources/Aru Fin 10% 01/04/2022 3,600,000 3,726,000 1.09 CNX Resources Corp 5.875% 15/04/2022 915,000 939,788 0.28 Office PPTY Income Trst 4.15% 01/02/2022 1,782,000 1,807,888 0.53 QEP Resources Inc 5.375% 01/10/2022 5,000,000 4,234,375 1.24 Derivatives Derivatives Derivatives Derivatives –––– spot foreign exchange contractsspot foreign exchange contractsspot foreign exchange contractsspot foreign exchange contracts Buy SGD529,881 / sell USD384,551 – 30 Nov 2020 3,639 - Buy SGD54 / sell USD39 – 30 Nov 2020 - - ────────── ──────

Financial Financial Financial Financial assets at fair value through profit or lossassets at fair value through profit or lossassets at fair value through profit or lossassets at fair value through profit or loss 340,614340,614340,614340,614,727,727,727,727 100.00100.00100.00100.00


- 59 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted inveListed/quoted inveListed/quoted inveListed/quoted investments (Continued) stments (Continued) stments (Continued) stments (Continued) Listed/quoted debtListed/quoted debtListed/quoted debtListed/quoted debt securities (Continued)securities (Continued)securities (Continued)securities (Continued) Derivatives Derivatives Derivatives Derivatives –––– spot foreign exchange spot foreign exchange spot foreign exchange spot foreign exchange contractscontractscontractscontracts Buy HKD87,930 / sell USD11,350 – 6 Oct 2020 (4) - ────────── ──────

Financial Financial Financial Financial liabilities at fair value through profit or lossliabilities at fair value through profit or lossliabilities at fair value through profit or lossliabilities at fair value through profit or loss ((((4444)))) ---- Total investmentsTotal investmentsTotal investmentsTotal investments 340,6340,6340,6340,614,72314,72314,72314,723 100.00100.00100.00100.00 Cash and other net assetsCash and other net assetsCash and other net assetsCash and other net assets (9,684) - ────────── ──────





- 60 -

Invesco Asian Bond Fixed Invesco Asian Bond Fixed Invesco Asian Bond Fixed Invesco Asian Bond Fixed Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022 Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Termin 4.45% 15/12/2022 - 3,910,000 - 3,910,000 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 7,300,000 - - 7,300,000 China Resources Gas Grp 4.5% 05/04/2022 1,187,000 - - 1,187,000 Concord New Energy Grp 7.9% 23/01/2021 2,150,000 - - 2,150,000 BritainBritainBritainBritain Vedanta Resources Ltd 6.375% 30/07/2022 3,500,000 - - 3,500,000 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Avic International Finance Invest 4.375% 23/05/2021 1,050,000 - - 1,050,000 Bi Hai Co Ltd 6.25% 05/03/2022 10,290,000 1,000,000 - 11,290,000 Bluestar Fin Holdings 3.5% 30/09/2021 5,740,000 - 1,940,000 3,800,000 China Cinda Finance 2017 3.65% 09/03/2022 5,800,000 - 5,800,000 - Chouzhou International Inv Ltd 4.5% 30/05/2022 1,000,000 6,110,000 - 7,110,000 Guohui Internation Bvi 4.37% 09/07/2022 - 500,000 - 500,000 Haichuan International Investment 7.5% 29/11/2021 1,570,000 - - 1,570,000 Hanhui International Ltd 4.37% 22/08/2022 11,250,000 - - 11,250,000 Hejun Shunze Investment 12% 25/04/2021 3,500,000 - 700,000 2,800,000 Hong Seng Ltd 9.875% 27/08/2022 - 2,750,000 - 2,750,000 Huarong Finance 2017 Co 3.75% 27/04/2022 4,270,000 - - 4,270,000 Knight Castle Investments 7.99% 23/01/2021 - 2,200,000 - 2,200,000 New Metro Global Ltd 6.5% 20/05/2022 1,000,000 - 1,000,000 - Sino Ocean Land Iv 5.25% 30/04/2022 2,000,000 1,000,000 - 3,000,000 Tsinghua Unic Ltd 4.75% 31/01/2021 5,600,000 - - 5,600,000 Yuexiu Reit Mtn Co 4.75% 27/04/2021 4,900,000 - - 4,900,000


- 61 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020





British Virgin Islands (British Virgin Islands (British Virgin Islands (British Virgin Islands (Continued)Continued)Continued)Continued) Yunnan Energy Inst Ovr 6.25% 29/11/2021 10,700,000 - - 10,700,000

Zhongyuan Sincere Investment 3.75% 19/01/2021 2,000,000 - - 2,000,000

CanadaCanadaCanadaCanada Methanex Corp 5.25% 01/03/2022 4,000,000 - 4,000,000 - Cayman IslandsCayman IslandsCayman IslandsCayman Islands Azure Nova International 3.5% 21/03/2022 2,290,000 - - 2,290,000

Bos Funding Ltd 4.23% 07/03/2022 11,000,000 - - 11,000,000 Bright Scholar Education 7.45% 31/07/2022 3,000,000 - 3,000,000 -

Capital Environment Holdings 5.625% 11/09/2021 1,000,000 - - 1,000,000

Central Chn Real Estate 6.75% 08/11/2021 3,500,000 - 1,800,000 1,700,000

CFLD Cayman Investment 7.125% 08/04/2022 2,600,000 - 2,600,000 -

CK Hutchison International 17 Ltd 2.875% 05/04/2022 2,000,000 - - 2,000,000 Country Garden Holdings 4.75% 25/07/2022 1,300,000 - - 1,300,000 Country Garden Holdings 7.125% 25/04/2022 10,750,000 400,000 - 11,150,000 Dib Sukuk Ltd 3.664% 14/02/2022 6,000,000 - - 6,000,000 EHI Car Services Ltd 5.875% 14/08/2022 5,800,000 - - 5,800,000 Red Sun Properties Group 10.5% 03/10/2022 3,800,000 - - 3,800,000 Ronshine China 8.75% 25/10/2022 3,500,000 - 3,500,000 - Shimao Group Holdings Ltd 4.75% 03/07/2022 - 7,500,000 - 7,500,000 Sinic Holdings Group Co 10.5% 18/06/2022 - 2,100,000 - 2,100,000 Sun Hung Kai Prop (Cap) 4.5% 14/02/2022 1,400,000 - 200,000 1,200,000


- 62 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Movement of PorMovement of PorMovement of PorMovement of Portfolio Investments (Continued) tfolio Investments (Continued) tfolio Investments (Continued) tfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (C(C(C(Continued)ontinued)ontinued)ontinued)

Cayman Islands Cayman Islands Cayman Islands Cayman Islands (Continued)(Continued)(Continued)(Continued) Sunac China Holdings Ltd 7.95% 08/08/2022 3,500,000 - 3,500,000 - Swire Pacific Mtn Fin 4.5% 28/02/2022 760,000 - 200,000 560,000 Unity 1 Sukuk Limited 3.86% 30/11/2021 11,000,000 - - 11,000,000 Yuzhou Properties Co Ltd 6% 25/01/2022 3,600,000 - 3,600,000 - Zhenro Properties Group 8.7% 03/08/2022 3,500,000 - - 3,500,000 DenmarkDenmarkDenmarkDenmark Danske Bank A/S 5% 12/01/2022 2,000,000 - - 2,000,000 - Hong Hong Hong Hong KongKongKongKong - Bocom Leasing Management 4% 22/01/2022 3,000,000 - - 3,000,000 Caiyun International Investment 5.5% 08/04/2022 12,800,000 - - 12,800,000 CNAC HK Finbridge Co Ltd 3.5% 19/07/2022 10,500,000 300,000 8,500,000 2,300,000 HK Red Star Macalline Un 3.375% 21/09/2022 - 3,340,000 - 3,340,000 Hongkong Intl Qingdao 4.25% 04/12/2022 - 1,210,000 - 1,210,000 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 2,000,000 - - 2,000,000 ICBCIL Finance Co Ltd 3.65% 05/03/2022 2,000,000 - 2,000,000 - Sino Trendy Investment 3.875% 25/01/2021 8,000,000 - - 8,000,000 Vanke Real Estate Hk 2.95% 14/10/2021 2,000,000 - 2,000,000 - Yango Justice International 10.25% 18/03/2022 3,600,000 500,000 - 4,100,000


- 63 -

Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022 Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The SFor The SFor The SFor The Six Months Ended 30 September 2020ix Months Ended 30 September 2020ix Months Ended 30 September 2020ix Months Ended 30 September 2020




ListListListListed/quoted debt securities ed/quoted debt securities ed/quoted debt securities ed/quoted debt securities (Continued)(Continued)(Continued)(Continued)

IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 4,774,000 3,800,000 - 8,574,000

ICICI Bank Ltd/Dubai 3.25% 09/09/2022 3,453,000 - - 3,453,000 Reliance Industries Ltd 5.4% 14/02/2022 (formerly known as Reliance Holdings USA 5.4% 14/02/2022) - 2,189,000 - 2,189,000 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 4,000,000 - 4,000,000 Indonesia Asahan Alumini 5.23% 15/11/2021 5,000,000 4,000,000 - 9,000,000 Perusahaan Penerbit Sbsn 3.4% 29/03/2022 2,000,000 - 2,000,000 - Isle Isle Isle Isle of of of of ManManManMan Sasol Financing Int 4.5% 14/11/2022 - 3,000,000 - 3,000,000 ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 11,000,000 - - 11,000,000 LuxembourgLuxembourgLuxembourgLuxembourg Spic Lux Latam Re Ener 4.25% 30/10/2021 3,276,000 - - 3,276,000 MalaysiaMalaysiaMalaysiaMalaysia Press Metal Labuan Ltd 4.8% 30/10/2022 750,000 1,600,000 2,350,000 - MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 - 1,350,000 - 1,350,000 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 - 4,000,000 - 4,000,000 Grupo Posadas Sab Cv 7.875% 30/06/2022 5,500,000 - 5,500,000 -


- 64 -





Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Cont(Cont(Cont(Continued)inued)inued)inued)

PanamaPanamaPanamaPanama Global Bank Corporation 4.5% 20/10/2021 - 2,000,000 400,000 1,600,000

People's People's People's People's Republic Republic Republic Republic of of of of ChinaChinaChinaChina Anhui Prov Investment 4.875% 18/10/2021 500,000 - - 500,000 CD Eco Tech Sa 7.5% 12/02/2022 1,800,000 - 1,800,000 - Changde Econ Cons Invest 6.6% 15/08/2022 3,000,000 - 3,000,000 - Gansu Electric Power 6.25% 04/12/2021 8,000,000 8,000,000 Gansu Highway Aviation 6.25% 02/08/2021 - 200,000 200,000 Gansu Highway Aviation 3.875% 05/07/2022 8,500,000 - - 8,500,000 Grand Automotive Service 8.625% 08/04/2022 - 3,550,000 3,550,000 XJ Financial Invest 7.5% 21/03/2022 4,000,000 - - 4,000,000 Zhuzhou City Construct 5.7% 24/05/2022 - 4,000,000 4,000,000 Saudi ArabiaSaudi ArabiaSaudi ArabiaSaudi Arabia Saudi Arabian Oil Co 2.75% 16/04/2022 3,000,000 - - 3,000,000 Dar Al Arkan Sukuk Co Lt 6.875% 10/04/2022 - 3,000,000 - 3,000,000 SingaporeSingaporeSingaporeSingapore Indika Energy Cap ii Pte 6.875% 10/04/2022 - 1,000,000 - 1,000,000 New Dian Group Pte Ltd 7.375% 23/04/2021 6,340,000 4,100,000 - 10,440,000 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 - 1,700,000 - 1,700,000 Eastern and Southern Africa 5.375% 14/03/2022 5,200,000 1,700,000 - 6,900,000 SSSSouth Africaouth Africaouth Africaouth Africa Transnet Soc Ltd 4% 26/07/2022 5,000,000 - 5,000,000 -


- 65 -






UniteUniteUniteUnited Arab Emiratesd Arab Emiratesd Arab Emiratesd Arab Emirates Abu Dhabi Commercial Bank 2.75% 05/10/2021 5,000,000 - - 5,000,000

Abu Dhabi National Energ 5.875% 13/12/2021 9,000,000 - 3,000,000 6,000,000 Burgan Senior Spc Ltd 3.125% 14/09/2021 2,150,000 - - 2,150,000 United StatUnited StatUnited StatUnited Stateseseses of Americaof Americaof Americaof America Air Lease Corp 3.5% 15/01/2022 - 5,300,000 - 5,300,000 Antero Resources Corp 5.375% 01/11/2021 5,300,000 - 5,300,000 - Ascent Resources/Aru Fin 10% 01/04/2022 3,600,000 - - 3,600,000 CNX Resources Corp 5.875% 15/04/2022 5,000,000 - 4,085,000 915,000 EQT Corp 4.875% 15/11/2021 827,000 - 827,000 - Ford Motor Credit Co Llc 3.339% 28/03/2022 5,000,000 - 5,000,000 - Oasis Petroleum Inc 6.875% 15/03/2022 3,600,000 - 3,600,000 - Office Properties Income Trust 4.15% 01/02/2022 1,782,000 - - 1,782,000 QEP Resources Inc 5.375% 01/10/2022 5,000,000 - - 5,000,000 Range Resources Corp 5% 15/08/2022 5,300,000 5,300,000 - US Treasury Note/Bond 1.375% 31/05/2021 - 10,800,000 10,800,000 -


- 66 -




change



DerDerDerDerivatives ivatives ivatives ivatives –––– forward foreignforward foreignforward foreignforward foreign exchange contractsexchange contractsexchange contractsexchange contracts Buy SGD / sell USD 6,440 (2,801) 3,639 Sell SGD / buy USD (597) - (597) Buy HKD / sell USD - (4) (4)


- 67 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net


Adani Abbot Point Termin 4.45% 15/12/2022 1,500,000 1,377,850 1.44 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 1,500,000 1,518,685 1.59 Concord New Energy Grp 7.9% 23/01/2021 1,200,000 1,210,407 1.27 BritainBritainBritainBritain Tullow Oil Plc 6.25% 15/04/2022 500,000 271,910 0.28 Vedanta Resources Ltd 6.375% 30/07/2022 950,000 775,021 0.81 British VirginBritish VirginBritish VirginBritish Virgin IslandsIslandsIslandsIslands Bi Hai Co Ltd 6.25% 05/03/2022 3,200,000 3,230,408 3.38 China Cinda Finance 2017 3.65% 09/03/2022 500,000 517,254 0.54 Chouzhou International Inv Ltd 4.5% 30/05/2022 2,500,000 2,597,286 2.72 CICC HK Finance 2016 Mtn 3.375% 03/05/2022 250,000 260,023 0.27 Guotai Junan Holdings 3.875% 11/03/2022 500,000 518,462 0.54 Hanhui International Ltd 4.37% 22/08/2022 3,000,000 3,089,106 3.23 Hejun Shunze Investment 12% 25/04/2021 950,000 1,018,400 1.07 Hong Seng Ltd 9.875% 27/08/2022 600,000 610,810 0.64 Sino Ocean Land Iv 5.25% 30/04/2022 1,304,000 1,378,771 1.44 Xiangyu Investment Bvi 6.9% 25/06/2022 1,050,000 1,082,410 1.13 Yuexiu Reit Mtn Co 4.75% 27/04/2021 500,000 517,840 0.54 Yunnan Energy Inst Ovr 4.25% 14/11/2022 3,500,000 3,565,261 3.73 Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 3,200,000 3,279,178 3.43 Capital Environment Holdings 5.625% 11/09/2021 1,000,000 1,029,125 1.08 Central CHN Real Estate 6.75% 08/11/2021 400,000 413,724 0.43 CFLD Cayman Investment 7.125% 08/04/2022 650,000 651,131 0.68 China SCE Grp Holdings Ltd 5.875% 10/03/2022 900,000 901,949 0.94 CK Hutchison International 17 Ltd 2.875% 05/04/2022 500,000 520,843 0.55 Country Garden Holdings 4.75% 25/07/2022 3,000,000 3,092,297 3.24 DIB Sukuk Ltd 3.664% 14/02/2022 500,000 516,998 0.54 EHI Car Services Ltd 5.875% 14/08/2022 1,050,000 924,127 0.97 Red Sun Properties Grp 10.5% 03/10/2022 900,000 974,819 1.02 Ronshine China 10.5% 01/03/2022 880,000 925,090 0.97 Shimao Group Holdings Ltd 4.75% 03/07/2022 3,340,000 3,463,033 3.63 Sib Sukuk Co iii Ltd 3.084% 08/09/2021 500,000 511,110 0.54 Sinic Holdings Group Co 10.5% 18/06/2022 1,000,000 1,034,998 1.08 Unity 1 Sukuk Limited 3.86% 30/11/2021 500,000 515,362 0.54 Zhenro Properties Group 8.65% 21/01/2023 900,000 935,377 0.98


- 68 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30As At 30As At 30As At 30 September 2020September 2020September 2020September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Hong KongHong KongHong KongHong Kong Caiyun International Investment 5.5% 08/04/2022 3,200,000 2,564,545 2.69 Guotai Junan International Holdings 4.25% 14/01/2022 500,000 517,916 0.54 Hongkong International Qingdao 4.25% 04/12/2022 1,700,000 1,753,231 1.84 Hongkong International Qingdao 3.75% 04/12/2020 1,200,000 1,217,625 1.27 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 700,000 691,616 0.72 Sino Trendy Invest 3.875% 25/01/2021 1,000,000 1,014,609 1.06 Swire Propert Mtn Fin 4.375% 18/06/2022 500,000 531,102 0.56 Yango Justice International 10.25% 18/03/2022 900,000 941,558 0.99 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 1,600,000 1,644,714 1.72 Bharat Petroleum Corp Lt 4.625% 25/10/2022 1,500,000 1,602,520 1.68 Export Import Bk India 4% 14/01/2023 2,000,000 2,116,989 2.22 State Bank India/London 3.25% 24/01/2022 1,500,000 1,538,603 1.61 IndonesIndonesIndonesIndonesiaiaiaia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 1,350,000 1,135,115 1.19 Indonesia Asahan Alumini 5.23% 15/11/2021 1,500,000 1,593,353 1.67 Pt Pertamina (Persero) 4.875% 03/05/2022 300,000 322,801 0.34 IrelandIrelandIrelandIreland Rosneft (Rosneft Int Fin) 4.199% 06/03/2022 500,000 516,028 0.54 Isle Isle Isle Isle of of of of ManManManMan Sasol Financing Int 4.5% 14/11/2022 1,000,000 984,897 1.03 ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 3,000,000 3,252,446 3.41 LuxembourgLuxembourgLuxembourgLuxembourg Gazprom (Gaz Capital Sa) 4.95% 19/07/2022 500,000 529,750 0.55 MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 1,000,000 777,152 0.81 MMMMauritiusauritiusauritiusauritius UPL Corp Ltd 3.25% 13/10/2021 500,000 513,847 0.54 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 900,000 786,000 0.82 NetherlandsNetherlandsNetherlandsNetherlands MDGH GMTN Bv 5.5% 01/03/2022 400,000 429,014 0.45


- 69 -

Invesco Asian Bond Fixed MInvesco Asian Bond Fixed MInvesco Asian Bond Fixed MInvesco Asian Bond Fixed Maturity Fund 2022aturity Fund 2022aturity Fund 2022aturity Fund 2022 ---- IIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (ContinListed/quoted investments (ContinListed/quoted investments (ContinListed/quoted investments (Continued) ued) ued) ued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) People’s Republic of ChPeople’s Republic of ChPeople’s Republic of ChPeople’s Republic of China (“China”)ina (“China”)ina (“China”)ina (“China”) Chongqing Nanan Con Dev 3.625% 19/07/2021 3,300,000 3,358,096 3.52 Gansu Highway Aviation 6.25% 02/08/2021 600,000 627,146 0.66 Grand Automotive Service 8.625% 08/04/2022 900,000 804,533 0.84 Guangxi Comm Invest Gr 3.5% 17/09/2022 550,000 556,269 0.58 Kunming Traffic Inv Co 6.2% 27/06/2022 300,000 310,857 0.33 Powerchina Real Estate 4.5% 06/12/2021 700,000 733,460 0.77 Zhengzhou Metro Group 5% 20/12/2021 1,800,000 1,886,066 1.97 Zhengzhou Urban Construc 3.8% 14/11/2022 50,000 51,475 0.05 Zhuzhou City Construct 5.7% 24/05/2022 3,000,000 3,187,825 3.34 PhilippinesPhilippinesPhilippinesPhilippines Union Bk Of Philippines 3.369% 29/11/2022 1,500,000 1,576,743 1.65 SSSSaudi Arabiaaudi Arabiaaudi Arabiaaudi Arabia Dar Al Arkan Sukuk Co Lt 6.875% 10/04/2022 1,000,000 1,035,096 1.08 Saudi Arabian Oil Co 2.75% 16/04/2022 300,000 311,304 0.33 SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 3% 23/05/2022 1,613,000 1,665,455 1.74 New Dian Group Pte Ltd 7.375% 23/04/2021 2,600,000 2,580,221 2.70 SupranationalSupranationalSupranationalSupranational Eastern + Southern Afric 5.375% 14/03/2022 1,000,000 1,015,723 1.06 South KoreaSouth KoreaSouth KoreaSouth Korea Korea Resources Corp 3% 24/04/2022 500,000 521,315 0.55 Mirae Asset Daewoo Co 3.125% 07/05/2022 460,000 474,763 0.50 ThailandThailandThailandThailand TMB Bank PCL 3.108% 01/10/2021 500,000 515,090 0.54 UniUniUniUnited Arab Emiratested Arab Emiratested Arab Emiratested Arab Emirates Burgan Senior Spc Ltd 3.125% 14/09/2021 500,000 508,585 0.53 United States United States United States United States of of of of America America America America Antero Resources Corp 5.125% 01/12/2022 1,500,000 1,248,125 1.31 Ascent Resources/Aru Fin 10% 01/04/2022 1,200,000 1,242,000 1.30 General Motors Finl Co 3.55% 08/07/2022 500,000 520,703 0.55 ────────── ──────

Financial assets at fair value through profit or lossFinancial assets at fair value through profit or lossFinancial assets at fair value through profit or lossFinancial assets at fair value through profit or loss 94,94,94,94,935,345935,345935,345935,345 99.4099.4099.4099.40


- 70 -

IIIInvesco Asian Bond Fixed Maturity Fund 2022nvesco Asian Bond Fixed Maturity Fund 2022nvesco Asian Bond Fixed Maturity Fund 2022nvesco Asian Bond Fixed Maturity Fund 2022 –––– IIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued) Derivatives Derivatives Derivatives Derivatives –––– spot foreign exchange contractsspot foreign exchange contractsspot foreign exchange contractsspot foreign exchange contracts Buy HKD380,122 / sell USD49,064 – 6 Oct 2020 (16) - ────────── ──────

Financial liabilities at fair value through profit or lossFinancial liabilities at fair value through profit or lossFinancial liabilities at fair value through profit or lossFinancial liabilities at fair value through profit or loss ((((16161616)))) ---- Total investmentsTotal investmentsTotal investmentsTotal investments 94,935,32994,935,32994,935,32994,935,329 99.4099.4099.4099.40 Cash and Cash and Cash and Cash and oooother net assetsther net assetsther net assetsther net assets 575,298 0.60 ────────── ──────

Net assets attriNet assets attriNet assets attriNet assets attributable to unitholdersbutable to unitholdersbutable to unitholdersbutable to unitholders 95,510,62895,510,62895,510,62895,510,628 100.00100.00100.00100.00 ══════════ ══════




- 71 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investmenListed/quoted investmenListed/quoted investmenListed/quoted investmentstststs Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Termin 4.45% 15/12/2022 1,500,000 - - 1,500,000 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 1,500,000 - - 1,500,000 Concord New Energy Grp 7.9% 23/01/2021 1,200,000 - - 1,200,000 BritainBritainBritainBritain Tullow Oil Plc 6.25% 15/04/2022 500,000 - - 500,000 Vedanta Resources Ltd 6.375% 30/07/2022 950,000 - - 950,000 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Bi Hai Co Ltd 6.25% 05/03/2022 1,000,000 2,200,000 - 3,200,000 China Cinda Finance 2017 3.65% 09/03/2022 500,000 - - 500,000 Chouzhou Intl Inv Ltd 4.5% 30/05/2022 2,500,000 - - 2,500,000 CICC HK Finance 2016 Mtn 3.375% 03/05/2022 500,000 - 250,000 250,000 Guotai Junan Holdings 3.875% 11/03/2022 500,000 - - 500,000 Haichuan Intl Investment 7.5% 29/11/2021 1,000,000 - 1,000,000 - Hanhui International Ltd 4.37% 22/08/2022 3,000,000 - - 3,00,000 Hejun Shunze Investment 12% 25/04/2021 950,000 - - 950,000 Hong Seng Ltd 9.875% 27/08/2022 - 600,000 - 600,000 New Metro Global Ltd 5% 08/08/2022 950,000 - 950,000 - Sino Ocean Land Iv 5.25% 30/04/2022 - 1,304,000 - 1,304,000 Xiangyu Investment Bvi 6.9% 25/06/2022 1,050,000 - - 1,050,000 Yuexiu Reit Mtn Co 4.75% 27/04/2021 500,000 - - 500,000 Yunnan Energy Inst Ovr 4.25% 14/11/2022 3,200,000 300,000 - 3,500,000 Zhaohai Investment Bvi 4% 23/07/2020 400,000 - 400,000 -


- 72 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020





Cayman IslandsCayman IslandsCayman IslandsCayman Islands Anton Oilfield Serv Grp/ 9.75% 05/12/2020 930,000 - 930,000 -

Bos Funding Ltd 4.23% 07/03/2022 3,200,000 - - 3,200,000 Capital Environment Holdings 5.625% 11/09/2021 1,000,000 1,000,000

Central Chn Real Estate 6.75% 08/11/2021 1,000,000 - 600,000 400,000 CFLD Cayman Investment 7.125% 08/04/2022 950,000 - 300,000 650,000

China Sce Grp Holdings Ltd 5.875% 10/03/2022 900,000 - - 900,000

CK Hutchison Intl 17 Ltd 2.875% 05/04/2022 500,000 - - 500,000

Country Garden Holdings 4.75% 25/07/2022 3,000,000 - - 3,000,000

Dib Sukuk Ltd 3.664% 14/02/2022 500,000 - - 500,000 EHI Car Services Ltd 5.875% 14/08/2022 1,050,000 - - 1,050,000

KWG Group Holdings 5.2% 21/09/2022 1,000,000 - 1,000,000 -

Red Sun Properties Grp 10.5% 03/10/2022 900,000 - - 900,000

Ronshine China 10.5% 01/03/2022 880,000 - - 880,000 Shimao Group Holdings Ltd 4.75% 03/07/2022 3,340,000 - - 3,340,000 Sib Sukuk Co iii Ltd 3.084% 08/09/2021 500,000 - - 500,000 Sinic Holdings Group Co 10.5% 18/06/2022 - 1,000,000 - 1,000,000 Sunac China Holdings Ltd 7.875% 15/02/2022 1,200,000 - 1,200,000 - Unity 1 Sukuk Limited 3.86% 30/11/2021 500,000 - - 500,000 Yuzhou Group 8.625% 23/01/2022 1,200,000 - 1,200,000 - Zhenro Properties Group 8.65% 21/01/2023 900,000 - - 900,000 -


- 73 -

Invesco Asian Bond Fixed MaturiInvesco Asian Bond Fixed MaturiInvesco Asian Bond Fixed MaturiInvesco Asian Bond Fixed Maturity Fund 2022ty Fund 2022ty Fund 2022ty Fund 2022 ---- IIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020





Hong KongHong KongHong KongHong Kong Caiyun Intl Investment 5.5% 08/04/2022 3,200,000 - - 3,200,000 Guotai Junan Intl Holdings 4.25% 14/01/2022 500,000 - - 500,000 Hongkong Intl Qingdao 4.25% 04/12/2022 - 1,700,000 - 1,700,000 Hongkong Intl Qingdao 3.75% 04/12/2020 1,200,000 - - 1,200,000 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 700,000 - - 700,000 Sino Trendy Invest 3.875% 25/01/2021 1,000,000 - - 1,000,000 Swire Propert Mtn Fin 4.375% 18/06/2022 500,000 - - 500,000 Yango Justice Intl 10.25% 18/03/2022 900,000 - - 900,000 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 1,000,000 600,000 - 1,600,000 Bharat Petroleum Corp Lt 4.625% 25/10/2022 1,500,000 - - 1,500,000 Delhi International Airp 6.125% 03/02/2022 350,000 - 350,000 - Export Import Bk India 4% 14/01/2023 2,000,000 - - 2,000,000 State Bank India/London 3.25% 24/01/2022 1,500,000 - - 1,500,000 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 1,350,000 - 1,350,000 Indonesia Asahan Alumini 5.23% 15/11/2021 - 1,500,000 - 1,500,000 PT Pertamina (Persero) 4.875% 03/05/2022 500,000 - 200,000 300,000


- 74 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30For The Six Months Ended 30For The Six Months Ended 30For The Six Months Ended 30 September 2020September 2020September 2020September 2020





IrelandIrelandIrelandIreland Rosneft (Rosneft Int Fin) 4.199% 06/03/2022 500,000 - - 500,000

Isle Isle Isle Isle of of of of ManManManMan Sasol Financing Int 4.5% 14/11/2022 1,000,000 - - 1,000,000 ItalyItalyItalyItaly Unicredit Spa 6.572% 14/01/2022 3,000,000 - - 3,000,000 JapanJapanJapanJapan Mitsubishi UFJ Fin Grp 2.998% 22/02/2022 400,000 - 400,000 - KuwaitKuwaitKuwaitKuwait Kuwait Intl Bond 2.75% 20/03/2022 200,000 - 200,000 - LuxembourgLuxembourgLuxembourgLuxembourg Gazprom (Gaz Capital Sa) 4.95% 19/07/2022 500,000 - - 500,000 MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 1,000,000 - - 1,000,000 MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 500,000 - - 500,000 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 900,000 - - 900,000 Grupo Posadas Sab Cv 7.875% 30/06/2022 970,000 - 970,000 - NetherlandsNetherlandsNetherlandsNetherlands Greenko Dutch Bv 4.875% 24/07/2022 250,000 - 250,000 - MDGH GMTN BV 5.5% 01/03/2022 400,000 - - 400,000


- 75 -






People's Republic People's Republic People's Republic People's Republic of of of of ChinaChinaChinaChina ("China”)("China”)("China”)("China”) CD Eco Tech Sa 7.5% 12/02/2022 1,000,000 - 1,000,000 - Changde Econ Cons Invest 6.6% 15/08/2022 400,000 - 400,000 - Chongqing Nanan Con Dev 3.625% 19/07/2021 3,300,000 - - 3,300,000 Gansu Highway Aviation 6.25% 02/08/2021 600,000 - - 600,000 Grand Automotive Service 8.625% 08/04/2022 - 900,000 - 900,000 Guangxi Comm Invest Gr 3.5% 17/09/2022 550,000 - - 550,000 Kunming Traffic Inv Co 6.2% 27/06/2022 300,000 - - 300,000 Powerchina Real Estate 4.5% 06/12/2021 - 700,000 - 700,000 Zhengzhou Metro Group 5% 20/12/2021 1,800,000 - - 1,800,000 Zhengzhou Urban Construc 3.8% 14/11/2022 50,000 - - 50,000 Zhuzhou City Construct 5.7% 24/05/2022 2,500,000 500,000 - 3,000,000 PhilippinesPhilippinesPhilippinesPhilippines Union Bk Of Philippines 3.369% 29/11/2022 1,500,000 - - 1,500,000 Saudi ArabiaSaudi ArabiaSaudi ArabiaSaudi Arabia Dar Al Arkan Sukuk Co Lt 6.875% 10/04/2022 - 1,000,000 - 1,000,000 Saudi Arabian Oil Co 2.75% 16/04/2022 300,000 - - 300,000 SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 3% 23/05/2022 1,613,000 - - 1,613,000 New Dian Group Pte Ltd 7.375% 23/04/2021 1,700,000 900,000 - 2,600,000 SupranationalSupranationalSupranationalSupranational Eastern + Southern Afric 5.375% 14/03/2022 - 1,000,000 - 1,000,000


- 76 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Movement of Portfolio Investments (ContMovement of Portfolio Investments (ContMovement of Portfolio Investments (ContMovement of Portfolio Investments (Continued) inued) inued) inued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




Listed/qListed/qListed/qListed/quoted debt securities uoted debt securities uoted debt securities uoted debt securities (Continued)(Continued)(Continued)(Continued)

SoSoSoSouth Africauth Africauth Africauth Africa Transnet Soc Ltd 4% 26/07/2022 1,300,000 - 1,300,000 - Korea Resources Corp 3% 24/04/2022 500,000 - - 500,000 Mirae Asset Daewoo Co 3.125% 07/05/2022 460,000 - - 460,000 ThailandThailandThailandThailand TMB Bank PCL 3.108% 01/10/2021 500,000 - - 500,000 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Burgan Senior Spc Ltd 3.125% 14/09/2021 500,000 - - 500,000 United States United States United States United States of of of of America America America America Antero Resources Corp 5.125% 01/12/2022 1,500,000 - - 1,500,000 Ascent Resources/Aru Fin 10% 01/04/2022 1,200,000 - - 1,200,000 Ford Motor Credit Co Llc 5.596% 07/01/2022 3,000,000 - 3,000,000 - General Motors Finl Co 3.55% 08/07/2022 500,000 - - 500,000 Range Resources Corp 5% 15/08/2022 1,500,000 - 1,500,000 - Whiting Petroleum Corp 5.75% 15/03/2021 1,000,000 - 1,000,000 -


- 77 -




change



Derivatives Derivatives Derivatives Derivatives –––– forward foreignforward foreignforward foreignforward foreign exchange contractsexchange contractsexchange contractsexchange contracts Buy HKD / sell USD - (16) (16)


- 78 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net


Adani Abbot Point Termin 4.45% 15/12/2022 2,500,000 2,296,417 1.48

AUST + NZ Banking Grp Ny 2.625% 19/05/2022 500,000 523,563 0.34

National Australia Bk/Ny 2.5% 22/05/2022 250,000 261,471 0.17 BermudaBermudaBermudaBermuda Binhai Investment Co Ltd 4.45% 30/11/2020 2,000,000 2,024,914 1.30 BritainBritainBritainBritain Vedanta Resources Ltd 6.375% 30/07/2022 1,600,000 1,305,299 0.84 British Virgin IslandBritish Virgin IslandBritish Virgin IslandBritish Virgin Islandssss Bi Hai Co Ltd 6.25% 05/03/2022 5,200,000 5,249,413 3.37 Chouzhou International Inv Ltd 4.5% 30/05/2022 3,000,000 3,116,743 2.00 Coastal Emerald Ltd 3.95% 01/08/2022 3,000,000 3,060,913 1.97 Guohui International Bvi 4.37% 09/07/2022 200,000 206,986 0.13 Haichuan Internatioal Investment 7.5% 29/11/2021 1,000,000 1,016,659 0.65 Hanhui International Ltd 4.37% 22/08/2022 5,000,000 5,148,510 3.31 Hejun Shunze Investment 12% 25/04/2021 1,400,000 1,500,800 0.96 Hong Seng Ltd 9.875% 27/08/2022 1,450,000 1,476,123 0.95 Huarong Finance 2017 Co 3.75% 27/04/2022 2,000,000 2,091,513 1.34 Sinopec Grp Oversea 2012 3.9% 17/05/2022 500,000 529,863 0.34 State Grid Overseas Inv 2.75% 04/05/2022 1,300,000 1,349,813 0.87 Wanda Properties Oversea 6.95% 05/12/2022 2,000,000 2,049,789 1.32 Xiangyu Investment Bvi 6.9% 25/06/2022 1,000,000 1,030,867 0.66 Yunnan Energy Inst Ovr 4.25% 14/11/2022 4,369,000 4,450,464 2.86 Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 4,500,000 4,611,344 2.96 CFLD Cayman Investment 6.9% 13/01/2023 2,000,000 1,917,293 1.23 Country Garden Holdings 4.75% 17/01/2023 5,000,000 5,176,319 3.32 Country Garden Holdings 7.125% 25/04/2022 200,000 211,909 0.14 Hutch Whampoa Int 11 Ltd 4.625% 13/01/2022 1,500,000 1,582,772 1.02 Kaisa Group Holdings Ltd 8.5% 30/06/2022 1,500,000 1,505,945 0.97 Longfor Properties 3.875% 13/07/2022 500,000 522,723 0.34 QIB Sukuk Ltd 3.251% 23/05/2022 2,500,000 2,593,158 1.67 Red Sun Properties Grp 10.5% 03/10/2022 1,400,000 1,516,384 0.97 Ronshine China 8.95% 22/01/2023 800,000 831,723 0.53 Shimao Group Holdings Ltd 4.75% 03/07/2022 5,000,000 5,184,181 3.33 Sinic Holdings Group Co 10.5% 18/06/2022 950,000 983,249 0.63 Sun Hung Kai Prop (Cap) 4.5% 14/02/2022 1,500,000 1,575,202 1.01 Swire Pacific Mtn Fin 4.5% 28/02/2022 1,300,000 1,358,912 0.87 Unity 1 Sukuk Limited 3.86% 30/11/2021 4,000,000 4,122,896 2.65 Zhenro Properties Group 8.65% 21/01/2023 1,400,000 1,455,031 0.93


- 79 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Schedule of InvestmeSchedule of InvestmeSchedule of InvestmeSchedule of Investments (Continued) nts (Continued) nts (Continued) nts (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debListed/quoted debListed/quoted debListed/quoted debt securities (Continued)t securities (Continued)t securities (Continued)t securities (Continued) Hong KongHong KongHong KongHong Kong Caiyun Intl Investment 5.5% 08/04/2022 5,000,000 4,007,101 2.57 CNAC Hk Finbridge Co Ltd 3.5% 19/07/2022 2,650,000 2,738,038 1.76 HK Red Star Macalline Un 3.375% 21/09/2022 750,000 700,054 0.45 HK Xiangyu Investment Co 4.5% 30/01/2023 450,000 465,802 0.30 Hongkong Intl Qingdao 4.25% 04/12/2022 4,500,000 4,640,906 2.98 Hongkong Intl Qingdao 3.9% 11/11/2022 3,000,000 3,082,913 1.98 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 1,000,000 988,022 0.63 Yango Justice Intl 10.25% 18/03/2022 1,400,000 1,464,646 0.94 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 3,270,000 3,361,384 2.16 Reliance Industries Ltd 5.4% 14/02/2022 1,500,000 1,590,979 1.02 State Bank India/London 4% 24/01/2022 1,500,000 1,552,226 1.00 IndonesiaIndonesiaIndonesiaIndonesia ABM Investama Tbk Pt 7.125% 01/08/2022 1,500,000 947,768 0.61 Bukit Makmur Mandiri Uta 7.75% 13/02/2022 1,300,000 1,093,074 0.70 Indonesia Asahan Alumini 5.23% 15/11/2021 2,050,000 2,177,583 1.40 PT Pertamina (Persero) 4.875% 03/05/2022 4,000,000 4,304,015 2.76 IsraelIsraelIsraelIsrael State Of Israel 4% 30/06/2022 500,000 535,426 0.34 JapanJapanJapanJapan Mitsubishi Ufj Fin Grp 2.623% 18/07/2022 500,000 520,804 0.33 LuxembourgLuxembourgLuxembourgLuxembourg Atento Luxco 1 Sa 6.125% 10/08/2022 2,400,000 2,336,849 1.50 MalaysiaMalaysiaMalaysiaMalaysia Petronas Capital Ltd 3.125% 18/03/2022 500,000 515,324 0.33 MaldiveMaldiveMaldiveMaldivessss Mof Rep Of Maldives Bond 7% 07/06/2022 1,600,000 1,243,444 0.80 MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 1,485,000 1,526,127 0.98 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 1,500,000 1,310,000 0.84


- 80 -

Invesco Asian Invesco Asian Invesco Asian Invesco Asian BondBondBondBond Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) People’s People’s People’s People’s RepubRepubRepubRepublic of China (“China”)lic of China (“China”)lic of China (“China”)lic of China (“China”) Gansu Electic Power 6.25% 04/12/2021 250,000 260,712 0.17 Gansu Highway Aviation 3.875% 05/07/2022 2,500,000 2,566,828 1.65 Grand Automotive Service 8.625% 08/04/2022 1,297,000 1,159,421 0.74 Xian Construction Invest 4% 24/06/2022 2,000,000 2,066,556 1.33 Zhengzhou Metro Group 5% 20/12/2021 2,300,000 2,409,974 1.55 Zhengzhou Urban Construc 3.8% 14/11/2022 2,500,000 2,573,756 1.65 Zhuzhou City Construct 5.7% 24/05/2022 4,500,000 4,781,738 3.07 Saudi Saudi Saudi Saudi ArabiaArabiaArabiaArabia Dar Al Arkan Sukuk Co Lt 6.875% 10/04/2022 1,500,000 1,552,644 1.00 SingaporeSingaporeSingaporeSingapore BOC Aviation Ltd 3% 23/05/2022 1,500,000 1,548,780 0.99 Indika Energy Cap ii Pte 6.875% 10/04/2022 750,000 775,367 0.50 New Dian Group Pte Ltd 7.375% 23/04/2021 3,000,000 2,977,178 1.91 Ongc Videsh Vankorneft 2.875% 27/01/2022 2,500,000 2,535,389 1.63 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 300,000 309,507 0.20 Eastern + Southern Afric 5.375% 14/03/2022 2,500,000 2,539,308 1.63 South KoreaSouth KoreaSouth KoreaSouth Korea Keb Hana Bank 3.375% 30/01/2022 500,000 520,190 0.33 Korea Resources Corp 3% 24/04/2022 500,000 521,315 0.33 Korea Water Resources 2.75% 23/05/2022 500,000 522,843 0.34 KT Corp 2.625% 07/08/2022 500,000 517,970 0.33 Mirae Asset Daewoo Co 3.125% 07/05/2022 500,000 516,046 0.33 ThailandThailandThailandThailand Siam Commercial Bank Cay 3.2% 26/07/2022 500,000 520,137 0.33 TMB Bank Pcl 3.108% 01/10/2021 2,000,000 2,060,359 1.32 United United United United Arab EmiratesArab EmiratesArab EmiratesArab Emirates NBK SPC Ltd 2.75% 30/05/2022 363,000 376,165 0.24 United StUnited StUnited StUnited States ates ates ates of of of of America America America America Ascent Resources/Aru Fin 10% 01/04/2022 1,600,000 1,656,000 1.06 CNX Resources Corp 5.875% 15/04/2022 893,000 917,192 0.59 SM Energy Co 6.125% 15/11/2022 2,000,000 1,602,218 1.03 ────────── ──────

Financial assets at fair vaFinancial assets at fair vaFinancial assets at fair vaFinancial assets at fair value through profit or losslue through profit or losslue through profit or losslue through profit or loss 152,729,238152,729,238152,729,238152,729,238 98.1098.1098.1098.10


- 81 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (ContinuedListed/quoted investments (ContinuedListed/quoted investments (ContinuedListed/quoted investments (Continued) ) ) ) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Total investmentsTotal investmentsTotal investmentsTotal investments 152,729,238152,729,238152,729,238152,729,238 98.1098.1098.1098.10 Cash and other net assetsCash and other net assetsCash and other net assetsCash and other net assets 2,953,023 1.90 ────────── ──────





- 82 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities AustraliaAustraliaAustraliaAustralia Adani Abbot Point Termin 4.45% 15/12/2022 2,500,000 - - 2,500,000 Aust + Nz Banking Grp Ny 2.625% 19/05/2022 500,000 - - 500,000 National Australia Bk/Ny 2.5% 22/05/2022 500,000 - 250,000 250,000 BermudaBermudaBermudaBermuda - Binhai Investment Co Ltd 4.45% 30/11/2020 2,000,000 - - 2,000,000 BritainBritainBritainBritain Vedanta Resources Ltd 6.375% 30/07/2022 1,600,000 - - 1,600,000 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands Bi Hai Co Ltd 6.25% 05/03/2022 5,000,000 200,000 - 5,200,000 Chouzhou Intl Inv Ltd 4.5% 30/05/2022 2,500,000 500,000 - 3,000,000 CNPC General Capital Ltd 3.95% 19/04/2022 1,500,000 - 1,500,000 - Coastal Emerald Ltd 3.95% 01/08/2022 3,000,000 - - 3,000,000 Greenland Global Invest 6.25% 16/12/2022 - 1,800,000 1,800,000 - Guohui Internation Bvi 4.37% 09/07/2022 - 200,000 - 200,000 Haichuan Intl Investment 7.5% 29/11/2021 1,000,000 - - 1,000,000 Hanhui International Ltd 4.37% 22/08/2022 5,000,000 - - 5,000,000 Hejun Shunze Investment 12% 25/04/2021 1,400,000 - - 1,400,000 Hong Seng Ltd 9.875% 27/08/2022 1,000,000 450,000 - 1,450,000 Huarong Finance 2017 Co 3.75% 27/04/2022 2,000,000 - - 2,000,000 Scenery Journey Ltd 11.5% 24/10/2022 1,000,000 400,000 1,400,000 - Sinopec Grp Oversea 2012 3.9% 17/05/2022 500,000 - - 500,000 State Grid Overseas Inv 2.75% 04/05/2022 1,300,000 - - 1,300,000 Wanda Properties Oversea 6.95% 05/12/2022 2,000,000 - - 2,000,000


- 83 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020





British Virgin Islands (British Virgin Islands (British Virgin Islands (British Virgin Islands (Continued)Continued)Continued)Continued) Xiangyu Investment Bvi 6.9% 25/06/2022 1,000,000 - - 1,000,000

Yunnan Energy Inst Ovr 4.25% 14/11/2022 2,550,000 1,819,000 - 4,369,000

Cayman IslandsCayman IslandsCayman IslandsCayman Islands Bos Funding Ltd 4.23% 07/03/2022 4,500,000 - - 4,500,000 Central Chn Real Estate 6.75% 08/11/2021 1,500,000 - 1,500,000 -

CFLD Cayman Investment 6.9% 13/01/2023 2,000,000 - - 2,000,000

China Evergrande Group 9.5% 11/04/2022 1,000,000 500,000 1,500,000 -

China Sce Grp Hldgs Ltd 5.875% 10/03/2022 1,250,000 - 1,250,000 -

Country Garden Hldgs 4.75% 17/01/2023 5,000,000 - - 5,000,000

Country Garden Hldgs 7.125% 25/04/2022 - 200,000 - 200,000

Hutch Whampoa Int 11 Ltd 4.625% 13/01/2022 1,500,000 - - 1,500,000

Kaisa Group Holdings Ltd 8.5% 30/06/2022 1,500,000 - - 1,500,000 KSA Sukuk Ltd 2.894% 20/04/2022 1,000,000 - 1,000,000 - Longfor Properties 3.875% 13/07/2022 500,000 - - 500,000 QIB Sukuk Ltd 3.251% 23/05/2022 2,500,000 - - 2,500,000 Red Sun Properties Grp 10.5% 03/10/2022 1,400,000 - - 1,400,000 Ronshine China 8.95% 22/01/2023 2,000,000 - 1,200,000 800,000 Shimao Group Hldgs Ltd 4.75% 03/07/2022 5,000,000 - - 5,000,000 Sinic Holdings Group Co 10.5% 18/06/2022 - 950,000 - 950,000 Sun Hung Kai Prop (Cap) 4.5% 14/02/2022 1,500,000 - - 1,500,000 Swire Pacific Mtn Fin 4.5% 28/02/2022 1,500,000 - 200,000 1,300,000 Unity 1 Sukuk Limited 3.86% 30/11/2021 4,000,000 - - 4,000,000 Zhenro Properties Group 8.65% 21/01/2023 1,400,000 - - 1,400,000


- 84 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of PortfoliMovement of PortfoliMovement of PortfoliMovement of Portfolio Investments (Continued) o Investments (Continued) o Investments (Continued) o Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Contin(Contin(Contin(Continued)ued)ued)ued)

Hong KongHong KongHong KongHong Kong Caiyun Intl Investment 5.5% 08/04/2022 5,000,000 - - 5,000,000 CNAC HK Finbridge Co Ltd 3.5% 19/07/2022 2,950,000 1,200,000 1,500,000 2,650,000 HK Red Star Macalline Un 3.375% 21/09/2022 - 750,000 - 750,000 HK Xiangyu Investment Co 4.5% 30/01/2023 450,000 - - 450,000 Hongkong Intl Qingdao 4.25% 04/12/2022 1,500,000 3,000,000 - 4,500,000 Hongkong Intl Qingdao 3.9% 11/11/2022 3,000,000 - - 3,000,000 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 1,000,000 - - 1,000,000 Yango Justice Intl 10.25% 18/03/2022 1,400,000 - - 1,400,000 IndiaIndiaIndiaIndia Adani Ports And Special 3.95% 19/01/2022 - 3,270,000 - 3,270,000 Reliance Industries Ltd 5.4% 14/02/2022 (formerly known as Reliance Holdings USA 5.4% 14/02/2022) 1,500,000 - - 1,500,000 State Bank India/London 4% 24/01/2022 1,500,000 - - 1,500,000 IndonesiaIndonesiaIndonesiaIndonesia Abm Investama Tbk Pt 7.125% 01/08/2022 1,000,000 500,000 - 1,500,000 Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 1,300,000 - 1,300,000 Indonesia Asahan Alumini 5.23% 15/11/2021 - 2,050,000 - 2,050,000 Perusahaan Penerbit Sbsn 3.4% 29/03/2022 250,000 - 250,000 - PT Pertamina (Persero) 4.875% 03/05/2022 4,000,000 - - 4,000,000 Republic Of Indonesia 3.75% 25/04/2022 1,500,000 - 1,500,000 -


- 85 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020





IsraelIsraelIsraelIsrael State Of Israel 4% 30/06/2022 500,000 - - 500,000 JapanJapanJapanJapan Mitsubishi UFJ Fin Grp 2.623% 18/07/2022 500,000 - - 500,000 LuxembourgLuxembourgLuxembourgLuxembourg Atento Luxco 1 Sa 6.125% 10/08/2022 - 2,400,000 - 2,400,000 MalaysiaMalaysiaMalaysiaMalaysia Petronas Capital Ltd 3.125% 18/03/2022 500,000 2,000,000 2,000,000 500,000 MaldivesMaldivesMaldivesMaldives Mof Rep Of Maldives Bond 7% 07/06/2022 1,600,000 - - 1,600,000 MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 1,485,000 - - 1,485,000 MexicoMexicoMexicoMexico Alpha Holding Sa 10% 19/12/2022 1,500,000 - - 1,500,000 Grupo Posadas Sab Cv 7.875% 30/06/2022 1,600,000 - 1,600,000 - NetherlandsNetherlandsNetherlandsNetherlands Greenko Dutch BV 4.875% 24/07/2022 - 1,650,000 1,650,000 - People'People'People'People'ssss Republic Republic Republic Republic oooof Chinaf Chinaf Chinaf China (“China”)(“China”)(“China”)(“China”) CD Eco Tech Sa 7.5% 12/02/2022 2,000,000 - 2,000,000 - Gansu Electic Power 6.25% 04/12/2021 250,000 - - 250,000 Gansu Highway Aviation 3.875% 05/07/2022 2,500,000 - - 2,500,000 Grand Automotive Service 8.625% 08/04/2022 - 1,297,000 - 1,297,000 Xian Construction Invest 4% 24/06/2022 2,000,000 - - 2,000,000


- 86 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of PoMovement of PoMovement of PoMovement of Portfolio Investments (Continued) rtfolio Investments (Continued) rtfolio Investments (Continued) rtfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020




ListedListedListedListed/quoted debt securities /quoted debt securities /quoted debt securities /quoted debt securities ((((Continued)Continued)Continued)Continued)

People's Republic People's Republic People's Republic People's Republic oooof China f China f China f China (Continued)(Continued)(Continued)(Continued) Zhengzhou Metro Group 5% 20/12/2021 2,300,000 - - 2,300,000 Zhengzhou Urban Construc 3.8% 14/11/2022 2,500,000 - - 2,500,000 Zhuzhou City Construct 5.7% 24/05/2022 3,000,000 1,500,000 4,500,000 Saudi ArabiaSaudi ArabiaSaudi ArabiaSaudi Arabia Dar AL Arkan Sukuk Co Lt 6.875% 10/04/2022 - 1,500,000 - 1,500,000 Saudi Arabian Oil Co 2.75% 16/04/2022 1,500,000 - 1,500,000 - SinSinSinSingaporegaporegaporegapore BOC Aviation Ltd 3% 23/05/2022 1,500,000 1,500,000 DBS Group Holdings Ltd 2.85% 16/04/2022 1,000,000 - 1,000,000 - Indika Energy Cap ii Pte 6.875% 10/04/2022 - 750,000 - 750,000 New Dian Group Pte Ltd 7.375% 23/04/2021 2,500,000 500,000 - 3,000,000 ONGC Videsh Vankorneft 2.875% 27/01/2022 1,500,000 1,000,000 - 2,500,000 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 - 300,000 - 300,000 Eastern + Southern Afric 5.375% 14/03/2022 2,500,000 - - 2,500,000 South KoreaSouth KoreaSouth KoreaSouth Korea Keb Hana Bank 3.375% 30/01/2022 500,000 - - 500,000 Korea Resources Corp 3% 24/04/2022 500,000 - - 500,000 Korea Water Resources 2.75% 23/05/2022 500,000 - - 500,000 KT Corp 2.625% 07/08/2022 500,000 - - 500,000 Mirae Asset Daewoo Co 3.125% 07/05/2022 500,000 - - 500,000


- 87 -

Invesco AInvesco AInvesco AInvesco Asian Bond Fixed Maturity Fund 2022sian Bond Fixed Maturity Fund 2022sian Bond Fixed Maturity Fund 2022sian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020For The Six Months Ended 30 September 2020



2020 Listed/quoted investmentListed/quoted investmentListed/quoted investmentListed/quoted investments s s s (Continued)(Continued)(Continued)(Continued)


ThailandThailandThailandThailand Siam Commercial Bank Cay 3.2% 26/07/2022 500,000 - - 500,000 TMB Bank Pcl 3.108% 01/10/2021 2,000,000 - - 2,000,000 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates First Abu Dhabi Bk Pjsc 3% 30/03/2022 3,000,000 - - 3,000,000 Nbk Spc Ltd 2.75% 30/05/2022 363,000 - - 363,000 United StatesUnited StatesUnited StatesUnited States of Americaof Americaof Americaof America Antero Resources Corp 5.375% 01/11/2021 2,000,000 - 2,000,000 - Ascent Resources/Aru Fin 10% 01/04/2022 1,600,000 - - 1,600,000 CNX Resources Corp 5.875% 15/04/2022 2,000,000 - 1,107,000 893,000 Ford Motor Credit Co Llc 2.979% 03/08/2022 4,500,000 - 4,500,000 - Oasis Petroleum Inc 6.875% 15/03/2022 1,600,000 - 1,600,000 - Range Resources Corp 5% 15/08/2022 2,000,000 - 2,000,000 - SM Energy Co 6.125% 15/11/2022 2,000,000 - - 2,000,000 US Treasury N/B 1.125% 30/06/2021 - 1,000,000 1,000,000 -


- 88 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Schedule of Investments Schedule of Investments Schedule of Investments Schedule of Investments As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investmentsListed/quoted investmentsListed/quoted investmentsListed/quoted investments Listed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securitiesListed/quoted debt securities BermudaBermudaBermudaBermuda CBQ Finance Ltd 3.25% 13/06/2021 650,000 666,484 0.23 Ooredoo International Finance 4.75% 16/02/2021 3,287,000 3,352,403 1.16 BritainBritainBritainBritain Lloyds Banking Group Plc 3.1% 06/07/2021 8,000,000 8,228,086 2.86 Standard Chartered Plc 3.05% 15/01/2021 500,000 506,623 0.18 British Virgin IslandsBritish Virgin IslandsBritish Virgin IslandsBritish Virgin Islands ABCL Glory Capital 2.5% 21/06/2021 500,000 508,387 0.18 Avic International Finance Invest 4.375% 23/05/2021 5,000,000 5,147,503 1.79 Beijing Capital Polaris 4.25% 26/03/2021 1,256,000 1,269,163 0.44 Bluestar Fin Holdings 3.5% 30/09/2021 3,000,000 3,049,370 1.06 BOSC International Bvi 3.125% 18/01/2021 6,000,000 6,068,171 2.11 CNPC HK Overseas Capital 4.5% 28/04/2021 5,000,000 5,194,525 1.80 Coastal Emerald Ltd 3.8% 01/06/2021 4,000,000 4,079,022 1.42 Easy Tactic Ltd 7% 25/04/2021 2,500,000 2,510,208 0.87 Haimen Zhongnan Inv Dev 10.875% 18/06/2022 1,000,000 1,063,615 0.37 Hejun Shunze Investment 9% 04/03/2021 1,400,000 1,416,100 0.49 Hejun Shunze Investment 11% 04/06/2022 1,400,000 1,476,271 0.51 Huarong Finance ii 3.25% 03/06/2021 8,000,000 8,147,382 2.83 Knight Castle Investmnts 7.99% 23/01/2021 2,000,000 1,567,574 0.54 Mega Advance Investments 5% 12/05/2021 1,055,000 1,095,957 0.38 Rail Transit International Invest 2.875% 13/05/2021 1,750,000 1,773,968 0.62 Rongxingda Development 9% 15/07/2021 2,800,000 2,845,500 0.99 State Grid Overseas Inv 2.125% 18/05/2021 992,000 1,007,007 0.35 Tsinghua Unic Ltd 4.75% 31/01/2021 3,000,000 2,288,750 0.79 Xinxing Industry Inv 4.25% 14/12/2020 5,000,000 5,078,935 1.76 Yuexiu Reit Mtn Co 4.75% 27/04/2021 9,000,000 9,321,115 3.23 Cayman IslandsCayman IslandsCayman IslandsCayman Islands ABQ Finance 3.625% 13/04/2021 200,000 205,858 0.07 Azure Orbit iii Intl Fin 2.625% 21/03/2021 2,400,000 2,421,144 0.84 Azure Orbit iv Intl Fin 3.5% 25/01/2021 1,700,000 1,720,750 0.60 CCBL Cayman 1 Corp 2.75% 31/05/2021 1,200,000 1,220,636 0.42 Central CHN Real Estate 6.875% 10/02/2021 2,500,000 2,523,394 0.88 Ch Ovs Grand Oce Finance 4.875% 01/06/2021 9,000,000 9,323,595 3.24 Country Garden Holdings 7.125% 25/04/2022 5,000,000 5,297,726 1.84 Dib Sukuk Ltd 3.6% 30/03/2021 4,400,000 4,456,874 1.55 EI Sukuk Co Ltd 3.542% 31/05/2021 4,380,000 4,506,348 1.56 Fantasia Holdings Group 7.95% 05/07/2022 559,000 551,423 0.19 Jingrui Holdings Ltd 9.45% 23/04/2021 1,500,000 1,535,963 0.53 Jingrui Holdings Ltd 10.875% 04/10/2021 1,200,000 1,241,661 0.43 Kaisa Group Holdings Ltd 11.25% 09/04/2022 2,500,000 2,696,839 0.94


- 89 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) Schedule of Investments (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued)Listed/quoted debt securities (Continued) Cayman Islands (Continued)Cayman Islands (Continued)Cayman Islands (Continued)Cayman Islands (Continued) Red Sun Properties Grp 9.95% 11/04/2022 1,900,000 2,039,092 0.71 Sharjah Sukuk 2 Ltd 3.839% 27/01/2021 5,000,000 5,079,639 1.76 Shimao Group Holdings Ltd 4.75% 03/07/2022 3,000,000 3,110,509 1.08 Sinic Holdings Group Co 11.75% 10/03/2021 380,000 385,806 0.13 Sinic Holdings Group Co 10.5% 18/06/2022 2,400,000 2,483,996 0.86 Three Gorges Fin I Ky 2.3% 02/06/2021 800,000 809,634 0.28 Xinyuan Real Estate 7.75% 28/02/2021 2,500,000 2,392,760 0.83 Zhenro Properties Group 9.8% 20/08/2021 500,000 514,330 0.18 Zhenro Properties Group 5.6% 28/02/2021 2,000,000 2,001,522 0.69 GermanyGermanyGermanyGermany Deutsche Bank Ag 3.375% 12/05/2021 4,500,000 4,610,837 1.60 GuernseyGuernseyGuernseyGuernsey Cred Suis Gp Fun Ltd 3.45% 16/04/2021 6,000,000 6,194,218 2.15 Hong Hong Hong Hong KongKongKongKong Bocom Leasing Mgmt 4% 22/01/2022 2,000,000 2,074,497 0.72 Caiyun International Investment 5.5% 08/04/2022 3,000,000 2,404,261 0.83 CNAC HK Finbridge Co Ltd 4.125% 14/03/2021 2,400,000 2,433,667 0.84 Guang Ying Invest 4.25% 16/05/2021 300,000 308,833 0.11 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 200,000 197,604 0.07 ICBCIL Finance Co Ltd 2.75% 19/05/2021 5,000,000 5,089,061 1.77 Sino Trendy Invest 3.875% 25/01/2021 4,100,000 4,159,897 1.44 Vanke Real Estate Hk 2.95% 14/10/2021 3,000,000 3,085,358 1.07 Yango Justice International 10.25% 18/03/2022 1,870,000 1,956,348 0.68 IndiaIndiaIndiaIndia Axis Bank/Dubai 2.875% 01/06/2021 2,989,000 3,023,623 1.05 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 3,500,000 2,942,891 1.02 Indonesia Asahan Alumini 5.23% 15/11/2021 1,800,000 1,912,024 0.66 Republic Of Indonesia 4.875% 05/05/2021 5,000,000 5,219,404 1.81 JapanJapanJapanJapan Toyota Motor Corp 3.183% 20/07/2021 1,000,000 1,029,822 0.36 LithuaniaLithuaniaLithuaniaLithuania Republic Of Lithuania 6.125% 09/03/2021 5,641,000 5,803,140 2.01 MalaysiaMalaysiaMalaysiaMalaysia Wakala Global Sukuk Bhd 4.646% 06/07/2021 400,000 416,024 0.14


- 90 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Schedule of InvestmenSchedule of InvestmenSchedule of InvestmenSchedule of Investments (Continued) ts (Continued) ts (Continued) ts (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continued)(Continued)(Continued)(Continued) MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 3,643,000 3,743,893 1.30 MexicoMexicoMexicoMexico Comision Fed De Electric 4.875% 26/05/2021 5,000,000 5,190,885 1.80 Netherlands Netherlands Netherlands Netherlands Veon Holdings Bv 3.95% 16/06/2021 4,000,000 4,083,523 1.42 NorwayNorwayNorwayNorway DNB Bank Asa 2.375% 02/06/2021 6,000,000 6,132,134 2.13 People’s People’s People’s People’s Republic Republic Republic Republic of of of of China China China China (“(“(“(“ChinaChinaChinaChina”)”)”)”) Anhui Prov Investment 4.875% 18/10/2021 2,000,000 2,117,214 0.73 China Minsheng Bkg/Hk 3.5% 09/03/2021 250,000 252,667 0.09 Chongqing Nanan Con Dev 3.625% 19/07/2021 2,000,000 2,035,210 0.71 Gansu Highway Aviation 6.25% 02/08/2021 2,750,000 2,874,418 1.00 Grand Automotive Service 8.625% 08/04/2022 3,300,000 2,949,953 1.02 Huzhou City Inv Dev Gp 4.875% 20/12/2020 1,000,000 1,019,677 0.35 Jiaxing City Inv + Dev 4.4% 03/01/2021 3,500,000 3,556,877 1.23 Kunming Traffic Inv Co 6.2% 27/06/2022 2,500,000 2,590,472 0.90 Powerchina Real Estate 4.5% 06/12/2021 300,000 314,340 0.11 Shenzhen Expressway 2.875% 18/07/2021 6,700,000 6,812,492 2.36 QatarQatarQatarQatar State Of Qatar 2.375% 02/06/2021 8,500,000 8,651,731 3.00 SingapSingapSingapSingaporeoreoreore Indika Energy Cap ii Pte 6.875% 10/04/2022 2,900,000 2,998,085 1.04 New Dian Group Pte Ltd 7.375% 23/04/2021 3,000,000 2,977,178 1.03 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 2,500,000 2,579,228 0.90 Banque Ouest Africaine D 5.5% 06/05/2021 2,000,000 2,089,126 0.72 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Commercial Bank 2.75% 05/10/2021 7,000,000 7,220,657 2.51 Abu Dhabi National Energ 3.625% 22/06/2021 1,749,000 1,805,036 0.63 United States United States United States United States of of of of America America America America Air Lease Corp 2.5% 01/03/2021 1,885,000 1,900,288 0.66 Daimler Finance Na Llc 3.35% 04/05/2021 300,000 308,890 0.11 Treasury Bill % 22/10/2020 14,200,000 14,199,317 4.93


- 91 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Schedule of InvestmeSchedule of InvestmeSchedule of InvestmeSchedule of Investments (Continued) nts (Continued) nts (Continued) nts (Continued) As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

Holdings

Fair value % of net

assets USD Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted investments (Continued) Listed/quoted debt securities (Listed/quoted debt securities (Listed/quoted debt securities (Listed/quoted debt securities (Continued)Continued)Continued)Continued) United States United States United States United States of America of America of America of America (Continued)(Continued)(Continued)(Continued) Wells Fargo + Company 4.6% 01/04/2021 8,000,000 8,353,898 2.90 ────────── ──────

Financial assets at Financial assets at Financial assets at Financial assets at fair value through profit or lossfair value through profit or lossfair value through profit or lossfair value through profit or loss 283,800,315 98.4898.4898.4898.48 Total investmentsTotal investmentsTotal investmentsTotal investments 283,800,315 98.48 Cash and other net assetsCash and other net assetsCash and other net assetsCash and other net assets 4,372,852 1.52 ────────── ──────

NNNNet assets attributable to unitholderset assets attributable to unitholderset assets attributable to unitholderset assets attributable to unitholders 288,173,16288,173,16288,173,16288,173,167777 100.00100.00100.00100.00 ══════════ ══════




- 92 -

Invesco Asian Bond Fixed Maturity Fund 2Invesco Asian Bond Fixed Maturity Fund 2Invesco Asian Bond Fixed Maturity Fund 2Invesco Asian Bond Fixed Maturity Fund 2021 021 021 021 ---- IIII Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments Movement of Portfolio Investments For The For The For The For The Period From 21 July 2020 To Period From 21 July 2020 To Period From 21 July 2020 To Period From 21 July 2020 To 30 September 202030 September 202030 September 202030 September 2020

Holdings as at 21 July 2020 Additions Disposals


2020 Listed/quoted Listed/quoted Listed/quoted Listed/quoted investmentsinvestmentsinvestmentsinvestments Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities BermudaBermudaBermudaBermuda CBQ Finance Ltd 3.25% 13/06/2021 - 650,000 - 650,000 Ooredoo Intl Finance 4.75% 16/02/2021 - 3,287,000 - 3,287,000 BritainBritainBritainBritain HSBC Holdings Plc 2.95% 25/05/2021 - 8,500,000 8,500,000 - Lloyds Banking Group Plc 3.1% 06/07/2021 - 8,000,000 - 8,000,000 Standard Chartered Plc 3.05% 15/01/2021 - 500,000 - 500,000 British VirginBritish VirginBritish VirginBritish Virgin ABCL Glory Capital 2.5% 21/06/2021 - 500,000 - 500,000 Avic Intl Finance Invest 4.375% 23/05/2021 - 5,000,000 - 5,000,000 Beijing Capital Polaris 4.25% 26/03/2021 - 1,256,000 - 1,256,000 Bluestar Fin Holdings 3.5% 30/09/2021 - 3,000,000 - 3,000,000 BOSC International BVI 3.125% 18/01/2021 - 6,000,000 - 6,000,000 CNPC HK Overseas Capital 4.5% 28/04/2021 - 5,000,000 - 5,000,000 Coastal Emerald Ltd 3.8% 01/06/2021 - 4,000,000 - 4,000,000 Easy Tactic Ltd 7% 25/04/2021 - 2,500,000 - 2,500,000 Haimen Zhongnan Inv Dev 10.875% 18/06/2022 - 1,000,000 - 1,000,000 Hejun Shunze Investment 9% 04/03/2021 - 1,400,000 - 1,400,000 Hejun Shunze Investment 11% 04/06/2022 - 1,400,000 - 1,400,000 Huarong Finance ii 3.25% 03/06/2021 - 8,000,000 - 8,000,000 Knight Castle Investmnts 7.99% 23/01/2021 - 3,000,000 1,000,000 2,000,000 Mega Advance Investments 5% 12/05/2021

- 1,055,000 - 1,055,000

Rail Transit Intl Invst 2.875% 13/05/2021

- 1,750,000 - 1,750,000

Rongxingda Development 9% 15/07/2021

- 2,800,000 - 2,800,000

Scenery Journey Ltd 9% 06/03/2021 - 300,000 300,000 -


- 93 -

Invesco Asian Bond Fixed Invesco Asian Bond Fixed Invesco Asian Bond Fixed Invesco Asian Bond Fixed Maturity Fund 2021 Maturity Fund 2021 Maturity Fund 2021 Maturity Fund 2021 ---- IIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020





British Virgin Islands (British Virgin Islands (British Virgin Islands (British Virgin Islands (ContinContinContinContinued)ued)ued)ued) State Grid Overseas Inv 2.125% 18/05/2021 - 992,000 - 992,000

Tsinghua Unic Ltd 4.75% 31/01/2021 - 3,000,000 - 3,000,000 Xinxing Industry Inv 4.25% 14/12/2020 - 5,000,000 - 5,000,000

Yuexiu Reit Mtn Co 4.75% 27/04/2021 - 9,000,000 - 9,000,000 Cayman IslandsCayman IslandsCayman IslandsCayman Islands ABQ Finance 3.625% 13/04/2021 - 200,000 - 200,000 Azure Orbit iii Intl Fin 2.625% 21/03/2021 - 2,400,000 - 2,400,000

Azure Orbit Iv Intl Fin 3.5% 25/01/2021 - 1,700,000 - 1,700,000

CCBL Cayman 1 Corp 2.75% 31/05/2021 - 1,200,000 - 1,200,000

Central Chn Real Estate 6.875% 10/02/2021 - 2,500,000 - 2,500,000

Ch Ovs Grand Oce Finance 4.875% 01/06/2021 - 9,000,000 - 9,000,000

China Evergrande Group 8.9% 24/05/2021 - 2,800,000 2,800,000 - Country Garden Hldgs 7.125% 25/04/2022

-

5,000,000

-

5,000,000

DIB Sukuk Ltd 3.6% 30/03/2021 - 4,400,000 - 4,400,000 EI Sukuk Co Ltd 3.542% 31/05/2021 - 4,380,000 - 4,380,000 Fantasia Holdings Group 7.95% 05/07/2022 - 559,000 - 559,000 Jingrui Holdings Ltd 9.45% 23/04/2021 - 1,500,000 - 1,500,000 Jingrui Holdings Ltd 10.875% 04/10/2021 - 1,200,000 - 1,200,000 Kaisa Group Holdings Ltd 11.25% 09/04/2022 - 2,500,000 - 2,500,000 Red Sun Properties Grp 9.95% 11/04/2022 - 1,900,000 - 1,900,000 Sharjah Sukuk 2 Ltd 3.839% 27/01/2021 - 5,000,000 - 5,000,000


- 94 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020





Cayman Islands Cayman Islands Cayman Islands Cayman Islands (Continued)(Continued)(Continued)(Continued) Shimao Group Hldgs Ltd 4.75% 03/07/2022 - 3,000,000 - 3,000,000 Sinic Holdings Group Co 11.75% 10/03/2021 - 380,000 - 380,000 Sinic Holdings Group Co 10.5% 18/06/2022 - 2,400,000 - 2,400,000 Three Gorges Fin I Ky 2.3% 02/06/2021 - 800,000 - 800,000 Xinyuan Real Estate 7.75% 28/02/2021 - 2,500,000 - 2,500,000 Zhenro Properties Group 9.8% 20/08/2021 - 500,000 - 500,000 Zhenro Properties Group 5.6% 28/02/2021 - 2,000,000 - 2,000,000 GermanyGermanyGermanyGermany Deutsche Bank Ag 3.375% 12/05/2021 - 4,500,000 - 4,500,000 GuernseyGuernseyGuernseyGuernsey Cred Suis Gp Fun Ltd 3.45% 16/04/2021 - 6,000,000 - 6,000,000 Hong KongHong KongHong KongHong Kong Bocom Leasing Mgmt 4% 22/01/2022 - 2,000,000 - 2,000,000 Caiyun Intl Investment 5.5% 08/04/2022 - 3,000,000 - 3,000,000 CNAC HK Finbridge Co Ltd 4.125% 14/03/2021 - 2,400,000 - 2,400,000 Guang Ying Invest 4.25% 16/05/2021 - 300,000 - 300,000 Huaxin Pharmaceutical Hk 6.8% 15/03/2021 - 200,000 - 200,000 Icbcil Finance Co Ltd 2.75% 19/05/2021 - 5,000,000 - 5,000,000 Sino Trendy Invst 3.875% 25/01/2021 - 4,100,000 - 4,100,000 Vanke Real Estate Hk 2.95% 14/10/2021 - 3,000,000 - 3,000,000 Yango Justice Intl 10.25% 18/03/2022 - 1,870,000 - 1,870,000


- 95 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For ThFor ThFor ThFor The Period From 21 July 2020 To 30 e Period From 21 July 2020 To 30 e Period From 21 July 2020 To 30 e Period From 21 July 2020 To 30 September 2020September 2020September 2020September 2020





IndiaIndiaIndiaIndia Axis Bank/Dubai 2.875% 01/06/2021 - 2,989,000 - 2,989,000 IndonesiaIndonesiaIndonesiaIndonesia Bukit Makmur Mandiri Uta 7.75% 13/02/2022 - 3,500,000 - 3,500,000 Indonesia Asahan Alumini 5.23% 15/11/2021 - 18,500,000 - 18,500,000 Republic Of Indonesia 4.875% 05/05/2021 - 5,000,000 - 5,000,000 JapanJapanJapanJapan Toyota Motor Corp 3.183% 20/07/2021 - 1,000,000 - 1,000,000 LithuaniaLithuaniaLithuaniaLithuania Republic Of Lithuania 6.125% 09/03/2021 - 5,641,000 - 5,641,000 MalaysiaMalaysiaMalaysiaMalaysia Wakala Global Sukuk Bhd 4.646% 06/07/2021 - 400,000 - 400,000 MauritiusMauritiusMauritiusMauritius UPL Corp Ltd 3.25% 13/10/2021 - 3,643,000 - 3,643,000 MexicoMexicoMexicoMexico Comision Fed De Electric 4.875% 26/05/2021 - 5,000,000 - 5,000,000 NetherlandsNetherlandsNetherlandsNetherlands Veon Holdings Bv 3.95% 16/06/2021 - 4,000,000 - 4,000,000 NorwayNorwayNorwayNorway Dnb Bank Asa 2.375% 02/06/2021 - 6,000,000 - 6,000,000 People's Republic of China (“China”)People's Republic of China (“China”)People's Republic of China (“China”)People's Republic of China (“China”) Anhui Prov Investment 4.875% 18/10/2021 - 2,000,000 - 2,000,000 China Minsheng Bkg/Hk 3.5% 09/03/2021 - 250,000 - 250,000


- 96 -

Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Invesco Asian Bond Fixed Maturity Fund 2021 Fixed Maturity Fund 2021 Fixed Maturity Fund 2021 Fixed Maturity Fund 2021 ---- IIII Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) Movement of Portfolio Investments (Continued) For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020





People's People's People's People's Republic Republic Republic Republic oooof Chinaf Chinaf Chinaf China (“China”)(“China”)(“China”)(“China”) (Continued)(Continued)(Continued)(Continued) Chongqing Nanan Con Dev 3.625% 19/07/2021

-

2,000,000

-

2,000,000

Gansu Highway Aviation 6.25% 02/08/2021 - 2,750,000 - 2,750,000 Grand Automotive Service 8.625% 08/04/2022 - 3,300,000 - 3,300,000 Huzhou City Inv Dev Gp 4.875% 20/12/2020 - 1,000,000 - 1,000,000 Jiaxing City Inv + Dev 4.4% 03/01/2021 - 3,500,000 - 3,500,000 Kunming Traffic Inv Co 6.2% 27/06/2022 - 2,500,000 - 2,500,000 Powerchina Real Estate 4.5% 06/12/2021 - 300,000 - 300,000 Shenzhen Expressway 2.875% 18/07/2021 - 6,700,000 - 6,700,000 QatarQatarQatarQatar State Of Qatar 2.375% 02/06/2021 - 8,500,000 - 8,500,000 SingaporeSingaporeSingaporeSingapore Indika Energy Cap ii Pte 6.875% 10/04/2022 - 2,900,000 - 2,900,000 New Dian Group Pte Ltd 7.375% 23/04/2021 - 3,000,000 - 3,000,000 SupranationalSupranationalSupranationalSupranational African Export Import Ba 4% 24/05/2021 - 2,500,000 - 2,500,000 Banque Ouest Africaine D 5.5% 06/05/2021 - 2,000,000 - 2,000,000 United Arab EmiratesUnited Arab EmiratesUnited Arab EmiratesUnited Arab Emirates Abu Dhabi Commercial Bnk 2.75% 05/10/2021 - 7,000,000 - 7,000,000 Abu Dhabi National Energ 3.625% 22/06/2021 - 1,749,000 - 1,749,000


- 97 -

Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Movement of Portfolio Movement of Portfolio Movement of Portfolio Movement of Portfolio Investments (Continued) Investments (Continued) Investments (Continued) Investments (Continued) For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020For The Period From 21 July 2020 To 30 September 2020




Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities Listed/quoted debt securities (Continu(Continu(Continu(Continued)ed)ed)ed)

United States United States United States United States oooof America f America f America f America Air Lease Corp 2.5% 01/03/2021 - 1,885,000 - 1,885,000 Antero Resources Corp 5.375% 01/11/2021 - 2,800,000 2,800,000 - Daimler Finance Na Llc 3.35% 04/05/2021 - 300,000 - 300,000 QEP Resources Inc 6.875% 01/03/2021 - 2,800,000 2,800,000 - Treasury Bill 0.01% 22/10/2020 - 14,200,000 - 14,200,000 Wells Fargo + Company 4.6% 01/04/2021 - 8,000,000 - 8,000,000


- 98 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Statement of Statement of Statement of Statement of Financial PositionFinancial PositionFinancial PositionFinancial Position AAAAs At s At s At s At 30 September 202030 September 202030 September 202030 September 2020 Sep 2020Sep 2020Sep 2020Sep 2020 MarMarMarMar 2222000020202020

USDUSDUSDUSD USDUSDUSDUSD

AssetAssetAssetAssetssss

CurCurCurCurrent assetsrent assetsrent assetsrent assets

Financial assets at fair value through profit or loss 23,618,293 25,704,973 Amounts receivable on subscriptions 4,576 13,414 Amounts receivable from brokers 204,815 657,411 Cash and cash equivalents 2,198,666 70,482

───────── ───────── Total assetsTotal assetsTotal assetsTotal assets 26,026,350 26,446,280 ------------------- ------------------ LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Financial liabilities at fair value through profit or loss 1,304 1,967 Amounts payable on redemptions 24,411 11,838 Amounts payable to brokers 694,283 200,000 Management fee payable 26,870 33,435 Trustee fee and administration fee payable 1,288 1,608 Accruals and other payables 69,359 83,557

───────── ───────── Liabilities (excluding net aLiabilities (excluding net aLiabilities (excluding net aLiabilities (excluding net assets attributable to unitholders)ssets attributable to unitholders)ssets attributable to unitholders)ssets attributable to unitholders) 817,515 332,405 ------------------- ------------------ Net assets attributable to Net assets attributable to Net assets attributable to Net assets attributable to unitholdersunitholdersunitholdersunitholders 25,208,835 26,113,875 ───────── ───────── Adjustments for amortisation of formation costs 49,973 60,000 ───────── ───────── Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to formation costsformation costsformation costsformation costs 25,258,808

26,173,875 ═════════ ═════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD Acc 39,058.75 67,937.95 - Class A USD MD1 500,514.61 628,348.32 - Class A USD MD 49,599.19 149,830.53 - Class A RMBHgd MD1 762,945.84 785,539.58 - Class A HKD MD1 734,410.42 895,410.22 - Class A HKD MD 92,167.47 92,167.47 - Class A SGDHgd MD1 90,439.65 90,439.65 Net aNet aNet aNet asset value per unitsset value per unitsset value per unitsset value per unit - Class A USD Acc USD10.54 USD9.08 - Class A USD MD1 USD8.96 USD7.99 - Class A USD MD USD9.36 USD8.33 - Class A RMBHgd MD1 RMB86.91 RMB78.00 - Class A HKD MD1 HKD88.70 HKD79.16 - Class A HKD MD HKD94.29 HKD83.05 - Class A SGDHgd MD1 SGD9.08 SGD8.07

The accompanying notes form an integral part of these financial statements.


- 99 -

Invesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond FundInvesco Belt and Road Bond Fund Statement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

For the For the For the For the six six six six monthsmonthsmonthsmonths

ended 30 ended 30 ended 30 ended 30 September September September September

2020202020202020 USDUSDUSDUSD IncoIncoIncoIncomemememe Interest income 841,699 Change in unrealised gains of financial assets and liabilities at fair

value through profit or loss 2,938,735 Net realised gains on financial assets and liabilities at fair value

through profit or loss 1,091,274 Net gains on foreign currencies 249 Other income 55,557 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 4,927,514 ------------------ ExpensesExpensesExpensesExpenses Management fee 172,738 Trustee fee and administration fee 8,282 Audit fee 14,788 Safe custody and bank charges 6,961 Transfer agent fee 5,981 Other operating expenses 40,839 ───────── Total Total Total Total operating expensesoperating expensesoperating expensesoperating expenses 249,589 ------------------ Operating loss 4,677,925 ------------------ Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (1,024,855) ------------------ Loss after distributions Loss after distributions Loss after distributions Loss after distributions 3,653,070 Adjustments for amortisation of formation costs 10,027 ───────── IncIncIncIncrease in net assets attributable to unitholders rease in net assets attributable to unitholders rease in net assets attributable to unitholders rease in net assets attributable to unitholders 3,643,043 ═════════ The accompanying notes form an integral part of these financial statements.


- 100 -

Invesco Belt and Invesco Belt and Invesco Belt and Invesco Belt and Road Bond FundRoad Bond FundRoad Bond FundRoad Bond Fund Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

For the six For the six For the six For the six monthsmonthsmonthsmonths


2020202020202020 USDUSDUSDUSD Net assets attributable to unitholders aNet assets attributable to unitholders aNet assets attributable to unitholders aNet assets attributable to unitholders at beginning of the t beginning of the t beginning of the t beginning of the

year/periodyear/periodyear/periodyear/period 26,173,875 ------------------ Subscription of units 1,472,528 Redemption of units (6,030,638) ───────── Net increase from unit transactions 21,615,765 ------------------ Increase in net assets attributable to unitholders 3,643,043 ------------------ Net assets attributable to unitholders at end of the Net assets attributable to unitholders at end of the Net assets attributable to unitholders at end of the Net assets attributable to unitholders at end of the

year/periodyear/periodyear/periodyear/period 25,258,808 ═════════ The accompanying notes form an integral part of these financial statements.


- 101 -

Invesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation Fund StaStaStaStatement of tement of tement of tement of Financial PositionFinancial PositionFinancial PositionFinancial Position As At 3As At 3As At 3As At 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020 30 30 30 30 Sep 2020Sep 2020Sep 2020Sep 2020 30 30 30 30 MarMarMarMar 2020202020202020 USDUSDUSDUSD USDUSDUSDUSD

AssetsAssetsAssetsAssets

Current assetsCurrent assetsCurrent assetsCurrent assets

Financial assets at fair value through profit or loss 51,832,698 46,587,410 Cash and cash equivalents 668,076 1,333,560

───────── ───────── Total assetsTotal assetsTotal assetsTotal assets 52,500,774 47,920,970 ------------------- ------------------ LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Management fee payable 26,664 26,762 Trustee fee and administration fee payable 2,560 2,584 Accruals and other payables 32,877 44,743

───────── ───────── LiLiLiLiabilities (excluding net assets attributable to unitholders)abilities (excluding net assets attributable to unitholders)abilities (excluding net assets attributable to unitholders)abilities (excluding net assets attributable to unitholders) 62,101 74,089 ------------------- ------------------ Net assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholders 52,438,673 47,846,881 ───────── ───────── Adjustments for amortisation of formation costs 27,772 33,344 ───────── ───────── Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to formation costs formation costs formation costs formation costs 52,466,445

47,880,225 ═════════ ═════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD Acc 235,359.49 235,359.49 - Class C USD Acc 4,945,754.43 5,070,080.47 Net asset value per unitNet asset value per unitNet asset value per unitNet asset value per unit - Class A USD Acc USD10.07 USD8.99 - Class C USD Acc USD10.13 USD9.03

The accompanying notes form an integral part of these financial statements.


- 102 -

Invesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation FundInvesco Global Multi Income Allocation Fund Statement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD IncomeIncomeIncomeIncome Dividend income 1,216,383 Change in unrealised gains of financial assets and liabilities at fair

value through profit or loss 6,732,173 Net realised losses on financial assets and liabilities at fair value

through profit or loss (1,579,014) Net gains on foreign currencies 5 Other income 17,469 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 6,387,016 ------------------ ExpensesExpensesExpensesExpenses Management fee 160,794 Trustee fee and administration fee 15,478 Audit fee 12,533 Safe custody and bank charges 1,826 Transfer agent fee 720 Other operating expenses 16,863 ───────── TotTotTotTotal operating expensesal operating expensesal operating expensesal operating expenses 208,214 ------------------ Operating profit 6,178,802 ------------------ PPPProfit after rofit after rofit after rofit after distributions and before taxdistributions and before taxdistributions and before taxdistributions and before tax Withholding taxes (316,851) Adjustments for amortisation of formation costs (5,572) ───────── IIIIncrease in net assets attributable to unitholdersncrease in net assets attributable to unitholdersncrease in net assets attributable to unitholdersncrease in net assets attributable to unitholders 5,856,379 ═════════ The accompanying notes form an integral part of these financial statements.


- 103 -

Invesco Global Multi Income AllocatiInvesco Global Multi Income AllocatiInvesco Global Multi Income AllocatiInvesco Global Multi Income Allocation Fundon Fundon Fundon Fund Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD Net assets Net assets Net assets Net assets attributable to unitholders at beginning of the attributable to unitholders at beginning of the attributable to unitholders at beginning of the attributable to unitholders at beginning of the

year/periodyear/periodyear/periodyear/period 47,880,225 ------------------ Subscription of units 383,550 Redemption of units (1,653,709) ───────── Net increase from unit transactions 46,610,066 ------------------ Increase in net assets attributable to unitholders 5,856,379 ------------------ Net assets attributable to unNet assets attributable to unNet assets attributable to unNet assets attributable to unitholders at end of the year/perioditholders at end of the year/perioditholders at end of the year/perioditholders at end of the year/period 52,466,445 ═════════ The accompanying notes form an integral part of these financial statements.


- 104 -

Invesco Global Bond Invesco Global Bond Invesco Global Bond Invesco Global Bond Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022Fixed Maturity Fund 2022 Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position As at 30 September 2020As at 30 September 2020As at 30 September 2020As at 30 September 2020 30 Sep 202030 Sep 202030 Sep 202030 Sep 2020 31 Mar 202031 Mar 202031 Mar 202031 Mar 2020 USDUSDUSDUSD USDUSDUSDUSD AssAssAssAssetsetsetsets Current assetsCurrent assetsCurrent assetsCurrent assets Financial assets at fair value through profit or loss 268,089,900 265,456,755 Amounts receivable from brokers - 1,243,129 Cash and cash equivalents 1,680,667 80,529 ────────── ────────── Total assetsTotal assetsTotal assetsTotal assets 269,770,567 266,780,413 --------------------- ------------------ LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Financial liabilities at fair value through profit or loss 16 260 Amounts payable on redemptions 113,879 1,034,906 Management fee payable 133,584 145,347 Trustee fee and administration fee payable 9,727 10,552 Accruals and other payables 94,368 86,178 ────────── ────────── Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders) 351,574 1,277,243 -------------------- ------------------ Net Net Net Net assets attributable to unitholdeassets attributable to unitholdeassets attributable to unitholdeassets attributable to unitholdersrsrsrs 269,418,993 265,503,170 ────────── ────────── Adjustments for amortisation of formation costs 55,658 76,657 Adjustments for amortisation of termination costs 9,542 (4,858) ────────── ────────── Net assets attrNet assets attrNet assets attrNet assets attributable to unitholders afteributable to unitholders afteributable to unitholders afteributable to unitholders after adjustment to adjustment to adjustment to adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 269,484,193 265,574,969 ══════════ ══════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD MD1 9,598,240.67 10,055,456.53 - Class A HKD MD1 13,490,692.18 14,199,529.18 Net Net Net Net asset vaasset vaasset vaasset value per unitlue per unitlue per unitlue per unit - Class A USD MD1 USD10.04 USD9.41 - Class A HKD MD1 HKD99.47 HKD93.30 The accompanying notes form an integral part of these financial statements.


- 105 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Statement of Comprehensive IncomeStatement of Comprehensive IncomeStatement of Comprehensive IncomeStatement of Comprehensive Income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020


ended 3ended 3ended 3ended 30 0 0 0 September September September September

2020202020202020 USDUSDUSDUSD IncomeIncomeIncomeIncome Interest income 7,313,860 Change in unrealised gains of financial assets and liabilities at fair

value through profit or loss 11,420,922 Net realised gains on financial assets and liabilities at fair value

through profit or loss 4,210,876 Net losses on foreign currencies (4,415) Other Income 447,134 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 23,388,377 ------------------ ExpensesExpensesExpensesExpenses Management fee 811,233 Trustee fee and administration fee 59,085 Audit fee 14,788 Safe custody and bank charges 12,262 Transfer agent fee 2,456 Other operating expenses 19,049 ───────── Total operating expensesTotal operating expensesTotal operating expensesTotal operating expenses 918,873 ------------------ Operating profit 22,469,504 ------------------ Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (5,157,170) ------------------ ProfitProfitProfitProfit after distributions and before taxafter distributions and before taxafter distributions and before taxafter distributions and before tax 17,312,334 Adjustments for amortisation of formation costs (20,999) Adjustments for amortisation of termination costs (3,600) ───────── IncIncIncIncrease in net assets attributable to unitholders rease in net assets attributable to unitholders rease in net assets attributable to unitholders rease in net assets attributable to unitholders 17,287,735 ═════════ The accompanying notes form an integral part of these financial statements.


- 106 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD Net assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the period 265,574,969 -------------------- Subscription of units - Redemption of units (13,378,512) ────────── Net decrease from unit transactions (13,378,512) -------------------- Increase in net assets attributable to unitholders 17,287,735 --------------------- Net assets attributable to Net assets attributable to Net assets attributable to Net assets attributable to unitholdersunitholdersunitholdersunitholders at end of the periodat end of the periodat end of the periodat end of the period 269,484,192 ══════════ The accompanying notes form an integral part of these financial statements.


- 107 -

Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022 ---- IIIIIIII Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position As at 3As at 3As at 3As at 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020 30 Sep 202030 Sep 202030 Sep 202030 Sep 2020 31 Mar 31 Mar 31 Mar 31 Mar 2020202020202020


AssetsAssetsAssetsAssets Current assetsCurrent assetsCurrent assetsCurrent assets Financial assets at fair value through profit or loss 233,874,287 228,602,221 Cash and cash equivalents 252,293 275,425 ────────── ────────── Total assetsTotal assetsTotal assetsTotal assets 234,126,580 228,877,646 -------------------- -------------------- LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Financial liabilities at fair value through profit or loss 5 4 Amount payable on redemption 15,536 127,259 Management fee payable 116,673 126,592 Trustee fee and administration fee payable 8,600 9,306 Accruals and other payables 125,175 116,987 ────────── ───────── Liabilities (excluding netLiabilities (excluding netLiabilities (excluding netLiabilities (excluding net assets attributable to uniassets attributable to uniassets attributable to uniassets attributable to unitholders)tholders)tholders)tholders) 265,989 380,148 -------------------- ------------------ Net assets Net assets Net assets Net assets attributable to unitholdersattributable to unitholdersattributable to unitholdersattributable to unitholders 233,860,591 228,497,498 ────────── ────────── Adjustments for amortisation of formation costs 60,671 81,579 Adjustments for amortisation of termination costs 10,399 (4,016) ────────── ────────── Net assets Net assets Net assets Net assets attributable to unitholders after adjustment to attributable to unitholders after adjustment to attributable to unitholders after adjustment to attributable to unitholders after adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 233,931,661 228,575,061 ══════════ ══════════ Number of Number of Number of Number of units outstandingunits outstandingunits outstandingunits outstanding - Class A USD MD1 12,363,956.52 12,910,069.00 - Class A HKD MD1 8,512,690.95 9,071,859.15 Net asset value per unitNet asset value per unitNet asset value per unitNet asset value per unit - Class A USD MD1 USD10.07 USD9.15 - Class A HKD MD1 HKD99.57 HKD90.46 The accompanying notes form an integral part of these financial statements.


- 108 -

Invesco Global Bond FixedInvesco Global Bond FixedInvesco Global Bond FixedInvesco Global Bond Fixed Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022 ---- IIIIIIII Statement of Comprehensive IncomeStatement of Comprehensive IncomeStatement of Comprehensive IncomeStatement of Comprehensive Income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020





through profit or loss (209,376) Net losses on foreign currencies (2,873) Other Income 207,291 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 23,105,942 ------------------ ExpensesExpensesExpensesExpenses Management fee 709,728 Trustee fee and administration fee 52,319 Audit fee 14,788 Safe custody and bank charges 11,304 Transfer agent fee 5,475 Other operating expenses 15,490 ───────── Total operating expensesTotal operating expensesTotal operating expensesTotal operating expenses 809,104 ------------------ Operating profit 22,296,839 ------------------ Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (4,373,029) ------------------ ProfitProfitProfitProfit after distributions and before taxafter distributions and before taxafter distributions and before taxafter distributions and before tax 17,923,810 Withholding taxes Adjustments for amortisation of formation costs (20,908) Adjustments for amortisation of termination costs (3,585) ────────── IncIncIncIncrease in net assets attributable to unitholdersrease in net assets attributable to unitholdersrease in net assets attributable to unitholdersrease in net assets attributable to unitholders 17,899,316 ══════════ The accompanying notes form an integral part of these financial statements.


- 109 -

Invesco Global Bond Fixed Invesco Global Bond Fixed Invesco Global Bond Fixed Invesco Global Bond Fixed Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022Maturity Fund 2022 ---- IIIIIIII Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD Net assets attributable to unitholders at beginning of tNet assets attributable to unitholders at beginning of tNet assets attributable to unitholders at beginning of tNet assets attributable to unitholders at beginning of the periodhe periodhe periodhe period 228,575,061 --------------------- Subscription of units - Redemption of units (12,542,716) ────────── Net decrease from unit transactions (12,542,716) -------------------- Increase in net assets attributable to unitholders 17,899,316 -------------------- Net assets attributable to unitholders at end of the periodNet assets attributable to unitholders at end of the periodNet assets attributable to unitholders at end of the periodNet assets attributable to unitholders at end of the period 233,931,661 ══════════ The accompanying notes form an integral part of these financial statements.


- 110 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position As at 3As at 3As at 3As at 30000 SeptemberSeptemberSeptemberSeptember 2020202020202020 30 30 30 30 SSSSep 2020ep 2020ep 2020ep 2020 31 Mar 202031 Mar 202031 Mar 202031 Mar 2020


AssetsAssetsAssetsAssets Current assetsCurrent assetsCurrent assetsCurrent assets Financial assets at fair value through profit or loss 340,614,727 328,936,269 Cash and cash equivalents 224,127 741,915 ────────── ────────── Total assetsTotal assetsTotal assetsTotal assets 340,838,854 329,678,184 -------------------- -------------------- LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Financial liabilities at fair value through profit or loss 4 597 Amounts payable on redemption 11,346 54,449 Management fee payable 169,030 184,793 Trustee fee and administration fee payable 12,091 13,186 Accruals and other payables 118,725 110,537 ───────── ───────── Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders) 311,196 363,562 ------------------ ------------------ Net assets attributNet assets attributNet assets attributNet assets attributable to unitholdersable to unitholdersable to unitholdersable to unitholders 340,527,658 329,314,622 ────────── ────────── Adjustments for amortisation of formation costs 66,056 87,079 Adjustments for amortisation of termination costs 11,325 (3,072) ────────── ────────── Net assets attributable to unNet assets attributable to unNet assets attributable to unNet assets attributable to unitholders after adjustment to itholders after adjustment to itholders after adjustment to itholders after adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 340,605,039 329,398,629 ══════════ ══════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD MD1 23,797,455.36 24,700,772.49 - Class A HKD MD1 8,299,745.52 8,504,565.53 - Class A SGD HGD MD1 54,091.25 54,091.25 Net asset value per unitNet asset value per unitNet asset value per unitNet asset value per unit - Class A USD MD1 USD9.89 USD9.26 - Class A HKD MD1 HKD97.81 HKD91.52 - Class A SGD HGD MD1 SGD9.90 SGD9.24 The accompanying notes form an integral part of these financial statements.


- 111 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 Statement of comprehenStatement of comprehenStatement of comprehenStatement of comprehensive incomesive incomesive incomesive income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020





through profit or loss (6,497,446) Net losses on foreign currencies (1,475) Other Income 459,739 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 29,993,505 ------------------ ExpeExpeExpeExpensesnsesnsesnses Management fee 1,018,584 Trustee fee and administration fee 72,909 Audit fee 14,788 Safe custody and bank charges 15,560 Transfer agent fee 2,779 Other operating expenses 21,194 ───────── Total operating expensesTotal operating expensesTotal operating expensesTotal operating expenses 1,145,814 ------------------ Operating profit 28,847,691 ------------------ Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (6,344,416) ------------------ ProfitProfitProfitProfit after distributions and before taxafter distributions and before taxafter distributions and before taxafter distributions and before tax 22,503,275 Withholding taxes Adjustments for amortisation of formation costs (21,023) Adjustments for amortisation of termination costs (3,603) ───────── InInInIncrease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders 22,478,649 ═════════ The accompanying notes form an integral part of these financial statements.


- 112 -

Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund 2022202220222022 Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD Net assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the period 329,398,629 -------------------- Subscription of units - Redemption of units (11,272,239) ────────── Net decrease from unit transactions (11,272,239) -------------------- Increase in net assets attributable to unitholders 22,478,649 -------------------- Net assets Net assets Net assets Net assets attributableattributableattributableattributable to unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the period 340,605,039 ══════════ The accompanying notes form an integral part of these financial statements.


- 113 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position As at 30 September 2020As at 30 September 2020As at 30 September 2020As at 30 September 2020 30 Sep 202030 Sep 202030 Sep 202030 Sep 2020

USDUSDUSDUSD

AssetsAssetsAssetsAssets CurrentCurrentCurrentCurrent assetsassetsassetsassets Financial assets at fair value through profit or loss 94,935,345 Cash and cash equivalents 709,295 ────────── Total assetsTotal assetsTotal assetsTotal assets 95,644,640 -------------------- LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Financial liabilities at fair value through profit or loss 16 Amounts payable on redemption 49,048 Management fee payable 47,265 Trustee fee and administration fee payable 3,973 Accruals and other payables 122,581 ────────── Liabilities (excluding net assets attributabLiabilities (excluding net assets attributabLiabilities (excluding net assets attributabLiabilities (excluding net assets attributable to unitholders)le to unitholders)le to unitholders)le to unitholders) 222,883 -------------------- Net assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholders 95,421,757 ────────── Adjustments for amortisation of formation costs 75,866 Adjustments for amortisation of termination costs 13,005 ────────── Net assets Net assets Net assets Net assets attributable to unitholders after adjustment to attributable to unitholders after adjustment to attributable to unitholders after adjustment to attributable to unitholders after adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 95,510,628 ══════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD MD1 6,114,866.80 - Class A HKD MD1 2,799,724.56 Net asset valueNet asset valueNet asset valueNet asset value per unitper unitper unitper unit - Class A USD MD1 USD9.83 - Class A HKD MD1 HKD98.04 The accompanying notes form an integral part of these financial statements.


- 114 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Statement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive income As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

For For For For the six the six the six the six monthsmonthsmonthsmonths




through profit or loss (1,461,378) Net losses on foreign currencies (313) Other Income 113,013 ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 8,703,920 -------------------- ExpensesExpensesExpensesExpenses Management fee 283,862 Trustee fee and administration fee 23,929 Audit fee 11,875 Safe custody and bank charges 5,288 Transfer agent fee 1,788 Other operating expenses 4,473 ───────── Total operating expensesTotal operating expensesTotal operating expensesTotal operating expenses 331,215 -------------------- Operating profit 8,372,704 ------------------- Finance Finance Finance Finance costscostscostscosts Distributions to unitholders (1,577,413) ------------------- ProfitProfitProfitProfit after distributions and before taxafter distributions and before taxafter distributions and before taxafter distributions and before tax 6,795,291 Withholding taxes Adjustments for amortisation of formation costs (20,908) Adjustments for amortisation of termination costs (3,585) ───────── InInInIncrease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders 6,770,799 ═════════ The accompanying notes form an integral part of these financial statements.


- 115 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIII Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020

For the six For the six For the six For the six mmmmonthsonthsonthsonths


2020202020202020 USDUSDUSDUSD Net assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the period 90,759,474 -------------------- Subscription of units - Redemption of units (2,019,645) ────────── Net decrease from unit transactions (2,019,645) -------------------- Increase in net assets attributable to unitholders 6,770,799 -------------------- Net assets Net assets Net assets Net assets attributableattributableattributableattributable to unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the period 95,510,628 ══════════ The accompanying notes form an integral part of these financial statements.


- 116 -

Invesco Asian Invesco Asian Invesco Asian Invesco Asian Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position As at 30 September 2020As at 30 September 2020As at 30 September 2020As at 30 September 2020 30 Sep 202030 Sep 202030 Sep 202030 Sep 2020 USDUSDUSDUSD

AssetsAssetsAssetsAssets Current assetsCurrent assetsCurrent assetsCurrent assets Financial assets at fair value through profit or loss 152,729,238 Cash and cash equivalents 3,040,132 ────────── Total assetsTotal assetsTotal assetsTotal assets 155,769,370 --------------------- LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Management fee payable 51,426 Trustee fee and administration fee payable 5,965 Accruals and other payables 123,146 ────────── LiaLiaLiaLiabilities (excluding net assets attributable to unitholders)bilities (excluding net assets attributable to unitholders)bilities (excluding net assets attributable to unitholders)bilities (excluding net assets attributable to unitholders) 180,537 -------------------- Net Net Net Net assets attributable to unitholdersassets attributable to unitholdersassets attributable to unitholdersassets attributable to unitholders 155,588,833 ────────── Adjustments for amortisation of formation costs 79,755 Adjustments for amortisation of termination costs 13,673 ────────── Net assets attributable to unitholders after Net assets attributable to unitholders after Net assets attributable to unitholders after Net assets attributable to unitholders after adjustment to adjustment to adjustment to adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 155,682,261 ══════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD MD1 2,137,348.10 - Class A HKD MD1 849,399.30 - Class C USD MD1 12,556,068.74 - Class C HKD MD1 15,000.00 Net asset value per unitNet asset value per unitNet asset value per unitNet asset value per unit - Class A USD MD1 USD9.85 - Class A HKD MD1 HKD98.02 - Class C USD MD1 USD9.85 - Class C HKD MD1 HKD98.02 The accompanying notes form an integral part of these financial statements.


- 117 -

Invesco Asian Invesco Asian Invesco Asian Invesco Asian Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Statement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive income As As As As At 30 September 2020At 30 September 2020At 30 September 2020At 30 September 2020



2020202020202020 IncomeIncomeIncomeIncome Interest income 4,080,428 Change in unrealised gains of financial assets and liabilities at fair


through profit or loss (1,756,890) Net losses on foreign currencies (68) Other Income 119,565 ────────── Total invesTotal invesTotal invesTotal investment incometment incometment incometment income 13,632,582 --------------------- ExpensesExpensesExpensesExpenses Management fee 306,022 Trustee fee and administration fee 35,607 Audit fee 12,896 Safe custody and bank charges 7,448 Transfer agent fee 1,803 Other operating expenses 2,684 ────────── Total operating Total operating Total operating Total operating expensesexpensesexpensesexpenses 366,460 -------------------- Operating profit 13,266,121 -------------------- Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (2,611,230) -------------------- Profit after distributioProfit after distributioProfit after distributioProfit after distributions and before taxns and before taxns and before taxns and before tax 10,654,892 Withholding taxes Adjustments for amortisation of formation costs (20,999) Adjustments for amortisation of termination costs (3,600) ────────── Increase in net assets attributable to unitholders Increase in net assets attributable to unitholders Increase in net assets attributable to unitholders Increase in net assets attributable to unitholders 10,630,293 ══════════ The accompanying notes form an integral part of these financial statements.


- 118 -

Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders As At 30 September 2020As At 30 September 2020As At 30 September 2020As At 30 September 2020



2020202020202020 USDUSDUSDUSD Net assets attributable tNet assets attributable tNet assets attributable tNet assets attributable to unitholders at beginning of the periodo unitholders at beginning of the periodo unitholders at beginning of the periodo unitholders at beginning of the period 145,470,716 --------------------- Subscription of units - Redemption of units (418,748) ────────── Net decrease from unit transactions (418,748) -------------------- Increase in net assets attributable to unitholders 10,630,293 -------------------- Net assets Net assets Net assets Net assets attributableattributableattributableattributable to unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the period 155,682,261 ══════════ The accompanying notes form an integral part of these financial statements.


- 119 -

Invesco Asian Bond Fixed Maturity Fund 2021Invesco Asian Bond Fixed Maturity Fund 2021Invesco Asian Bond Fixed Maturity Fund 2021Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII Statement of Statement of Statement of Statement of financial positionfinancial positionfinancial positionfinancial position AsAsAsAs at 30 September 2020at 30 September 2020at 30 September 2020at 30 September 2020 33330000 SepSepSepSep 2020202020202020

USDUSDUSDUSD

AssetsAssetsAssetsAssets Current assetsCurrent assetsCurrent assetsCurrent assets Financial assets at fair value through profit or loss 280,088,593 Amounts receivable from brokers 3,711,723 Cash and cash equivalents 12,738,305 ────────── TotalTotalTotalTotal assetsassetsassetsassets 296,538,621 -------------------- LiabilitiesLiabilitiesLiabilitiesLiabilities Current liabilitiesCurrent liabilitiesCurrent liabilitiesCurrent liabilities Amounts payable to brokers 8,227,524 Management fee payable 95,520 Trustee fee and administration fee payable 10,321 Accruals and other payables 131,023 ────────── Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders)Liabilities (excluding net assets attributable to unitholders) 8,464,388 -------------------- Net assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholdersNet assets attributable to unitholders 288,074,233 ────────── Adjustments for amortisation of formation costs 84,456 Adjustments for amortisation of termination costs 14,478 ────────── Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to Net assets attributable to unitholders after adjustment to

formation costs and termination costsformation costs and termination costsformation costs and termination costsformation costs and termination costs 288,173,167 ══════════ Number of units outstandingNumber of units outstandingNumber of units outstandingNumber of units outstanding - Class A USD MD1 320,000.00 - Class C USD ACC 28,483,609.02 Net asset value per unitNet asset value per unitNet asset value per unitNet asset value per unit - Class A USD MD1 USD9.99 - Class C USD ACC USD10.00 The accompanying notes form an integral part of these financial statements.


- 120 -

Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 2021111 ---- IIII Statement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive incomeStatement of comprehensive income For the period from 21 For the period from 21 For the period from 21 For the period from 21 July 2020 (dateJuly 2020 (dateJuly 2020 (dateJuly 2020 (date of inception) to 30 September 2020of inception) to 30 September 2020of inception) to 30 September 2020of inception) to 30 September 2020

For the periodFor the periodFor the periodFor the period from 21 July from 21 July from 21 July from 21 July

2020 (date of 2020 (date of 2020 (date of 2020 (date of inception) toinception) toinception) toinception) to

33330000 SeptemberSeptemberSeptemberSeptember 2020202020202020

USDUSDUSDUSD IncomeIncomeIncomeIncome Interest income 2,345,533 Change in unrealised losses of financial assets and liabilities at fair

value through profit or loss (1,396,701) Net realised losses on financial assets and liabilities at fair value

through profit or loss (511,738) ───────── Total investment incomeTotal investment incomeTotal investment incomeTotal investment income 437,094 ------------------ ExpensesExpensesExpensesExpenses Management fee 228,954 Trustee fee and administration fee 24,741 Audit fee 8,022 Safe custody and bank charges 3,688 Transfer agent fee 5,074 Other operating expenses 448 ───────── Total Total Total Total operating expensesoperating expensesoperating expensesoperating expenses 270,927 ------------------ Operating profit 166,167 ------------------ Finance costsFinance costsFinance costsFinance costs Distributions to unitholders (5,024) ------------------ ProfitProfitProfitProfit after distributions and before taxafter distributions and before taxafter distributions and before taxafter distributions and before tax 161,143 Adjustments for amortisation of formation costs (20,544) Adjustments for amortisation of termination costs (3,522) ───────── InInInIncrease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders crease in net assets attributable to unitholders 137,077 ═════════ The accompanying notes form an integral part of these financial statements.


- 121 -

Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 202Invesco Asian Bond Fixed Maturity Fund 2021111 ---- IIII Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders Statement of changes in net assets attributable to unitholders For the peFor the peFor the peFor the period from 21 July 2020 (date of inception) to 30 riod from 21 July 2020 (date of inception) to 30 riod from 21 July 2020 (date of inception) to 30 riod from 21 July 2020 (date of inception) to 30 September 2020September 2020September 2020September 2020

For the periodFor the periodFor the periodFor the period from 21 July from 21 July from 21 July from 21 July

2020 (date of 2020 (date of 2020 (date of 2020 (date of inception) toinception) toinception) toinception) to

30 September 30 September 30 September 30 September 2020202020202020

USDUSDUSDUSD Net assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the periodNet assets attributable to unitholders at beginning of the period - --------------------- Subscription of units 288,036,090 Redemption of units - ────────── Net increase from unit transactions 288,036,090 --------------------- Increase in net assets attributable to unitholders 137,077 -------------------- NeNeNeNet assets t assets t assets t assets attributableattributableattributableattributable to unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the periodto unitholders at end of the period 288,173,167 ══════════ The accompanying notes form an integral part of these financial statements.


- 122 -

Notes To The Financial Statements Notes To The Financial Statements Notes To The Financial Statements Notes To The Financial Statements DistributionsDistributionsDistributionsDistributions

The following table shows the distributions of the Sub-Funds during the period from 1 April 2020 to 30 Sep 2020: Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund

ExExExEx----datedatedatedate Payment datePayment datePayment datePayment date

No. of units No. of units No. of units No. of units entitled entitled entitled entitled

distributionsdistributionsdistributionsdistributions

DistributionDistributionDistributionDistribution

per unitper unitper unitper unit

Total Total Total Total distribution distribution distribution distribution

amountamountamountamount

Class A USD MD Class A USD MD Class A USD MD Class A USD MD ---- USDUSDUSDUSD USDUSDUSDUSD USDUSDUSDUSD

1 April 2020 14 April 2020 149,830.53 0.0545 8,166

4 May 2020 11 May 2020 149,831.36 0.0291 4,360

1 June 2020 11 June 2020 149,831.79 0.0326 4,885

2 July 2020 13 July 2020 149,971.28 0.0327 4,904

3 August 2020 11 August 2020 149,972.22 0.0331 4,964

1 September 2020 11 September 2020 49,599.19 0.1131 5,610

───────

32,888

--------------

Class A USD MD1 Class A USD MD1 Class A USD MD1 Class A USD MD1 ---- USDUSDUSDUSD USDUSDUSDUSD USDUSDUSDUSD

1 April 2020 14 April 2020 628,348.32 0.0500 31,417

4 May 2020 11 May 2020 631,926.50 0.0500 31,596

1 June 2020 11 June 2020 627,403.42 0.0500 31,370

2 July 2020 13 July 2020 629,032.00 0.0500 31,452

3 August 2020 11 August 2020 571,239.82 0.0500 28,562


───────

181,463

--------------

Class A RMBClass A RMBClass A RMBClass A RMB Hgd MD1 Hgd MD1 Hgd MD1 Hgd MD1 –––– RMBRMBRMBRMB RMBRMBRMBRMB USDUSDUSDUSD

1 April 2020 14 April 2020 785,539.58 0.6666 74,320

4 May 2020 11 May 2020 788,188.82 0.6666 73,928

1 June 2020 11 June 2020 753,040.35 0.6666 71,052

2 July 2020 13 July 2020 729,583.89 0.6666 69,513

3 August 2020 11 August 2020 777,348.48 0.6666 74,644


───────

438,854

--------------


- 123 -

The Financial Statements (Continued)The Financial Statements (Continued)The Financial Statements (Continued)The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund (Continued)(Continued)(Continued)(Continued)

For the period from 1 Apr 2020 to 30 Sep 2020, the total distribution to unitholders are USD1,024,855. For the period from 1 Apr 2019 to 30 Sep 2019, the total distribution to unitholders are USD1,526,964.




DistributDistributDistributDistributionionionion




Class A HKD MD1 Class A HKD MD1 Class A HKD MD1 Class A HKD MD1 –––– HKDHKDHKDHKD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2020 14 April 2020 895,410.22 0.5000 57,755

4 May 2020 11 May 2020 898,397.70 0.5000 57,958

1 June 2020 11 June 2020 881,438.83 0.5000 56,866

2 July 2020 13 July 2020 869,269.91 0.5000 56,075

3 August 2020 11 August 2020 816,851.75 0.5000 52,699


────────

331,855

----------------

Class A HKD MD Class A HKD MD Class A HKD MD Class A HKD MD –––– HKDHKDHKDHKD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2020 14 April 2020 92,167.47 0.3431 4,079

4 May 2020 11 May 2020 92,167.47 0.2917 3,469

1 June 2020 11 June 2020 92,167.47 0.3254 3,870

2 July 2020 13 July 2020 92,167.47 0.3286 3,907

3 August 2020 11 August 2020 92,167.47 0.3303 3,928


──────

23,564

------------

Class A SGDClass A SGDClass A SGDClass A SGD Hgd MD1 Hgd MD1 Hgd MD1 Hgd MD1 ---- SGDSGDSGDSGD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2020 14 April 2020 90,439.65 0.0416 2,659

4 May 2020 11 May 2020 90,439.65 0.0416 2,655

1 June 2020 11 June 2020 90,439.65 0.0416 2,712

2 July 2020 13 July 2020 90,439.65 0.0416 2,711

3 August 2020 11 August 2020 90,439.65 0.0416 2,742


───────

16,231

----------------

Total distributions to unitholdersTotal distributions to unitholdersTotal distributions to unitholdersTotal distributions to unitholders 1,024,855

════════


- 124 -

Notes To The Financial StatementNotes To The Financial StatementNotes To The Financial StatementNotes To The Financial Statements (Continued)s (Continued)s (Continued)s (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022Invesco Global Bond Fixed Maturity Fund 2022

Ex-date

Payment date

No. of units entitled

distributions

Distribution

per unit

Total distribution

amount

Class A USD MD1 Class A USD MD1 Class A USD MD1 Class A USD MD1 –––– USDUSDUSDUSD USDUSDUSDUSD USDUSDUSDUSD

1 April 2020 14 April 2020 10,055,456.53 0.0310 311,719

4 May 2020 11 May 2020 9,776,723.32 0.0310 303,078

1 June 2020 11 June 2020 9,760,253.22 0.0310 302,568

2 July 2020 13 July 2020 9,757,839.67 0.0310 302,493

3 August 2020 11 August 2020 9,689,889.04 0.0310 300,387

1 September 2020 11 September 2020 9,646,674.04 0.0310 299,047

1,819,292


1 April 2020 14 April 2020 14,199,529.18 0.3100 567,849

4 May 2020 11 May 2020 14,177,198.18 0.3100 567,055

1 June 2020 11 June 2020 14,071,356.18 0.3100 562,840

2 July 2020 13 July 2020 13,762,046.68 0.3100 550,414

3 August 2020 11 August 2020 13,675,577.68 0.3100 547,016


3,337,878

Total distributions to unithTotal distributions to unithTotal distributions to unithTotal distributions to unitholdersoldersoldersolders 5,157,170

For the period from 1 Apr 2020 to 30 Sep 2020, the total distribution to unitholders are USD5,157,170.


- 125 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Global Bond Fixed Maturity Fund 202Invesco Global Bond Fixed Maturity Fund 202Invesco Global Bond Fixed Maturity Fund 202Invesco Global Bond Fixed Maturity Fund 2022222 ---- IIIIIIII

Ex-date

Payment date


distributions

Distribution

per unit

Total distribution

amount


1 April 2020 14 April 2020 12,910,069.00 0.0300 387,302

4 May 2020 11 May 2020 12,890,979.17 0.0300 386,729

1 June 2020 11 June 2020 12,862,601.48 0.0300 385,878

2 July 2020 13 July 2020 12,700,844.61 0.0300 381,025

3 August 2020 11 August 2020 12,533,059.67 0.0300 375,992


2,290,984

Class A Class A Class A Class A HKD MD1 HKD MD1 HKD MD1 HKD MD1 –––– HKDHKDHKDHKD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2020 14 April 2020 9,071,859.15 0.3000 351,087

4 May 2020 11 May 2020 9,061,910.15 0.3000 350,763

1 June 2020 11 June 2020 9,024,265.15 0.3000 349,317

2 July 2020 13 July 2020 8,991,558.95 0.3000 348,018

3 August 2020 11 August 2020 8,891,602.95 0.3000 344,187


2,082,045




- 126 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022

Ex-date

Payment date


distributions

Distribution

per unit

Total distribution

amount


1 April 2020 14 April 2020 24,700,772.49 0.0300 741,024

4 May 2020 11 May 2020 24,499,514.49 0.0300 734,985

1 June 2020 11 June 2020 24,499,514.49 0.0300 734,985

2 July 2020 13 July 2020 24,182,162.99 0.0300 725,465

3 August 2020 11 August 2020 24,022,418.49 0.0300 720,673


4,375,367


1 April 2020 14 April 2020 8,504,565.53 0.3000 329,133

4 May 2020 11 May 2020 8,493,687.03 0.3000 328,769

1 June 2020 11 June 2020 8,479,385.02 0.3000 328,226

2 July 2020 13 July 2020 8,459,600.02 0.3000 327,428

3 August 2020 11 August 2020 8,421,943.02 0.3000 326,006


1,963,612

Class A SGDClass A SGDClass A SGDClass A SGD Hgd MD1 Hgd MD1 Hgd MD1 Hgd MD1 ---- SGDSGDSGDSGD SGD USD

1 April 2020 14 April 2020 54,091.25 0.0233 891

4 May 2020 11 May 2020 54,091.25 0.0233 889

1 June 2020 11 June 2020 54,091.25 0.0233 908

2 July 2020 13 July 2020 54,091.25 0.0233 908

3 August 2020 11 August 2020 54,091.25 0.0233 919

1 September 2020 11 September 2020 54,091.25 0.0233 922

5,437

Total distributions to Total distributions to Total distributions to Total distributions to unitholdersunitholdersunitholdersunitholders 6,344,416



- 127 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund Invesco Asian Bond Fixed Maturity Fund 2022202220222022 ---- IIIIIIII

Ex-date

Payment date


distributions

Distribution

per unit

Total distribution

amount


1 April 2020 14 April 2020 6,229,329.80 0.0267 166,323

4 May 2020 11 May 2020 6,227,547.80 0.0267 166,276

1 June 2020 11 June 2020 6,219,682.80 0.0267 166,066

2 July 2020 13 July 2020 6,158,912.80 0.0267 164,443

3 August 2020 11 August 2020 6,115,856.80 0.0267 163,293


989,694


1 April 2020 14 April 2020 2,873,425.26 0.2667 98,860

4 May 2020 11 May 2020 2,858,650.26 0.2667 98,369

1 June 2020 11 June 2020 2,858,157.76 0.2667 98,355

2 July 2020 13 July 2020 2,837,157.76 0.2667 97,623

3 August 2020 11 August 2020 2,836,177.76 0.2667 97,600


587,720




- 128 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Contin(Contin(Contin(Continued)ued)ued)ued) Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022Invesco Asian Bond Fixed Maturity Fund 2022 ---- IIIIIIIIIIII

Ex-date

Payment date


distributions

Distribution

per unit

Total distribution

amount


1 April 2020 14 April 2020 2,177,164.79 0.0275 59,872

4 May 2020 11 May 2020 2,177,164.79 0.0275 59,872

1 June 2020 11 June 2020 2,152,414.79 0.0275 59,191

2 July 2020 13 July 2020 2,137,348.10 0.0275 58,777

3 August 2020 11 August 2020 2,137,348.10 0.0275 58,777


355,267


1 April 2020 14 April 2020 852,866.80 0.2750 30,256

4 May 2020 11 May 2020 849,896.80 0.2750 30,156

1 June 2020 11 June 2020 849,896.80 0.2750 30,157

2 July 2020 13 July 2020 849,896.80 0.2750 30,154

3 August 2020 11 August 2020 849,896.80 0.2750 30,157


181,019

Class C USD MD1 Class C USD MD1 Class C USD MD1 Class C USD MD1 –––– USDUSDUSDUSD USD USD

1 April 2020 14 April 2020 12,556,068.74 0.0275 345,292

4 May 2020 11 May 2020 12,556,068.74 0.0275 345,292

1 June 2020 11 June 2020 12,556,068.74 0.0275 345,292

2 July 2020 13 July 2020 12,556,068.74 0.0275 345,292

3 August 2020 11 August 2020 12,556,068.74 0.0275 345,292


2,071,751

Class C HKD MD1 Class C HKD MD1 Class C HKD MD1 Class C HKD MD1 –––– HKDHKDHKDHKD HKD USD

1 April 2020 14 April 2020 15,000.00 0.2750 532

4 May 2020 11 May 2020 15,000.00 0.2750 532

1 June 2020 11 June 2020 15,000.00 0.2750 532

2 July 2020 13 July 2020 15,000.00 0.2750 532

3 August 2020 11 August 2020 15,000.00 0.2750 532

1 September 2020 11 September 2020 15,000.00 0.2750 532

3,193




- 129 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 Invesco Asian Bond Fixed Maturity Fund 2021 ---- IIII

Ex-date

Payment date


distributions

Distribution

per unit

Total distribution

amount



5,024

Total distributions to unitholdersTotal distributions to unitholdersTotal distributions to unitholdersTotal distributions to unitholders 5,024

For the period from 1 Apr 2020 to 30 Sep 2020, the total distribution to unitholders are USD5,024.


- 130 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) The following table shows the distributions of the Sub-Funds during the period from 1 April 2019 to 30 Sep 2019: Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund

ExExExEx----datedatedatedate Payment daPayment daPayment daPayment datetetete







Class A USD Class A USD Class A USD Class A USD MDMDMDMD ---- USDUSDUSDUSD USDUSDUSDUSD USDUSDUSDUSD

1 April 2019 11 April 2019 312,561.97 0.0381 11,909

2 May 2019 14 May 2019 312,699.94 0.0415 12,977

3 June 2019 11 June 2019 312,704.59 0.0411 12,852

2 July 2019 11 July 2019 200,805.50 0.0772 15,502

1 August 2019 12 August 2019 179,965.23 0.0517 9,304


───────

69,833

--------------

Class A USD MD1 Class A USD MD1 Class A USD MD1 Class A USD MD1 ---- USDUSDUSDUSD USDUSDUSDUSD USDUSDUSDUSD

1 April 2019 11 April 2019 1,223,793.41 0.0500 61,190

2 May 2019 14 May 2019 1,195,147.45 0.0500 59,757

3 June 2019 11 June 2019 1,186,751.29 0.0500 59,338

2 July 2019 11 July 2019 1,156,658.20 0.0500 57,833

1 August 2019 12 August 2019 1,011,935.98 0.0500 50,597


───────

335,413

--------------

Class A RMClass A RMClass A RMClass A RMBBBB Hgd MD1 Hgd MD1 Hgd MD1 Hgd MD1 –––– RMBRMBRMBRMB RMBRMBRMBRMB USDUSDUSDUSD

1 April 2019 11 April 2019 739,275.97 0.6666 73,258

2 May 2019 14 May 2019 779,377.16 0.6666 75,262

3 June 2019 11 June 2019 787,844.98 0.6666 75,843

2 July 2019 11 July 2019 804,785.98 0.6666 78,029

1 August 2019 12 August 2019 952,006.98 0.6666 89,442


───────

480,074

--------------


- 131 -

The Financial StatemenThe Financial StatemenThe Financial StatemenThe Financial Statements (Continued)ts (Continued)ts (Continued)ts (Continued) Distributions Distributions Distributions Distributions (Continued)(Continued)(Continued)(Continued) Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund Invesco Belt and Road Bond Fund (Continued)(Continued)(Continued)(Continued)









1 April 2019 11 April 2019 1,694,673.47 0.5000 108,042

2 May 2019 14 May 2019 1,655,793.11 0.5000 105,472

3 June 2019 11 June 2019 1,635,884.41 0.5000 104,374

2 July 2019 11 July 2019 1,568,971.04 0.5000 100,308

1 August 2019 12 August 2019 1,424,222.65 0.5000 90,751


────────

593,895

----------------

Class A HKD MD Class A HKD MD Class A HKD MD Class A HKD MD –––– HKDHKDHKDHKD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2019 11 April 2019 94,580.08 0.3831 4,620

2 May 2019 14 May 2019 98,696.57 0.3840 4,828

3 June 2019 11 June 2019 98,696.57 0.4123 5,193

2 July 2019 11 July 2019 98,696.57 0.3516 4,437

1 August 2019 12 August 2019 98,696.57 0.4618 5,808


──────

30,032

------------

Class A SGDClass A SGDClass A SGDClass A SGD Hgd MD1 Hgd MD1 Hgd MD1 Hgd MD1 ---- SGDSGDSGDSGD HKDHKDHKDHKD USDUSDUSDUSD

1 April 2019 11 April 2019 110,399.72 0.0416 3,389

2 May 2019 14 May 2019 110,399.72 0.0416 3,355

3 June 2019 11 June 2019 90,439.65 0.0416 2,758

2 July 2019 11 July 2019 90,439.65 0.0416 2,773

1 August 2019 12 August 2019 90,439.65 0.0416 2,714


───────

17,717

----------------

Total distributions to Total distributions to Total distributions to Total distributions to unitholdersunitholdersunitholdersunitholders 1,526,964

════════


- 132 -

Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued)Notes To The Financial Statements (Continued) InformaInformaInformaInformation for Unitholderstion for Unitholderstion for Unitholderstion for Unitholders ManagerManagerManagerManager The Manager is Invesco Hong Kong Limited, a wholly owned subsidiary of Invesco Ltd. The Manager is licensed to carry out asset management activities pursuant to the SFO. Invesco Hong Kong Limited was formed in Hong Kong in 1972. The Manager specialises in investment research and fund management in the Asia Pacific with other Invesco Ltd. Group companies in Hong Kong, China, Taiwan, Singapore, Japan and Australia. The Directors of the Manager during the period were:

Andrew T S Lo John G Greenwood Fanny S M Lee Martin P Franc

Terry S K Pan Jeremy C Simpson Anna S M Tong

Invesco Ltd. is listed on the New York Stock Exchange. Invesco Ltd. and its predecessors have over 130 years’ experience in fund management. The Manager undertakes the management of the assets of the Sub-Funds. The Manager may appoint Investment Advisers and delegate any of its management functions in relation to assets of specific Sub-Funds to such Investment Advisers subject to prior SFC approval. In the event that an Investment Adviser is appointed by the Manager in respect of an existing sub-fund, at least one month’s prior notice will be provided to Unitholders of such sub-fund and the Prospectus and/or the relevant Appendix will be updated to include such appointment. The Manager shall manage each sub-fund in the best interests of Unitholders of the class or classes relating thereto, and fulfill the duties imposed on it by the general law governing the Trust. The Manager shall not be exempted from or indemnified against any liability imposed under the laws of Hong Kong or for breach of trust through fraud or negligence for which it may be liable in relation to its duties, or be indemnified against such liability by Unitholders or at Unitholders' expense. Subject to the foregoing, the Manager shall not be liable for any loss, costs or damages that may arise as a result of the Manager exercising its duties, powers, authorities and discretions vested in the Manager by the Trust Deed.


- 133 -

Notes To The FinanNotes To The FinanNotes To The FinanNotes To The Financial Statements (Continued)cial Statements (Continued)cial Statements (Continued)cial Statements (Continued) Management And AdministrationManagement And AdministrationManagement And AdministrationManagement And Administration ManagerManagerManagerManager Invesco Hong Kong Limited 41/F, Champion Tower Three Garden Road, Central Hong Kong Trustee and RegistrarTrustee and RegistrarTrustee and RegistrarTrustee and Registrar State Street Trust (HK) Limited 68/F, Two International Finance Centre 8 Finance Street, Central Hong Kong DistributorDistributorDistributorDistributor Invesco Asset Management Asia Limited 41/F, Champion Tower Three Garden Road, Central Hong Kong AuditorAuditorAuditorAuditor PricewaterhouseCoopers 21/F, Edinburgh Tower The Landmark 15 Queen’s Road, Central Hong Kong AdminAdminAdminAdministratoristratoristratoristrator State Street Trust (HK) Limited 68/F, Two International Finance Centre 8 Finance Street, Central Hong Kong CustodianCustodianCustodianCustodian State Street Bank and Trust Company 68/F, Two International Finance Centre 8 Finance Street, Central Hong Kong Solicitors toSolicitors toSolicitors toSolicitors to the Managerthe Managerthe Managerthe Manager Deacons 5/F, Alexandra House 18 Chater Road, Central Hong Kong

invesco trust series interim report for sep 2019632d0690-3800-4...the trust is an umbrella fund with...

Documents