GMGSF - Invesco Global Real Estate Fund Q1 2025 Commentary
2025-05-13 08:48:00 ET
Summary
- REITs outperformed broader equity markets during the quarter. The fund underperformed its benchmark, mainly due to stock selection.
- The fund maintains a balance between select structural growth and cyclical property types at reasonable valuations, with some exposure to what we consider attractively priced REITs offering defensive income.
- Listed real estate companies with favorable cost of capital and strong operating platforms are in our view most likely to find attractive investment opportunities as a new real estate cycle begins.
Standardized performance (%) |
as of March 31, 2025 |
Quarter |
YTD |
1 Year |
3 Years |
5 Years |
10 Years |
Since Inception |
Class A shares inception: 04/29/05 |
NAV |
1.53 |
1.53 |
0.60 |
-5.06 |
4.18 |
1.01 |
3.80 |
Max. Load 5.5% |
-4.08 |
-4.08 |
-4.94 |
-6.84 |
3.02 |
0.43 |
3.50 |
Class R6 shares inception: 09/24/12 |
NAV |
1.54 |
1.54 |
0.97 |
-4.64 |
4.67 |
1.47 |
3.33 |
Class Y shares inception: 10/03/08 |
NAV |
1.48 |
1.48 |
0.74 |
-4.86 |
4.43 |
1.24 |
4.14 |
Custom Global Real Estate Index |
1.59 |
1.59 |
3.90 |
-4.28 |
5.69 |
1.98 |
- |
Total return ranking vs. Morningstar Global Real Estate category (Class A shares at NAV) |
- |
- |
78% (132 of 168) |
71% (120 of 165) |
83% (138 of 161) |
81% (107 of 123) |
- |