DSGX - Invesco International Small-Mid Company Fund Q1 2025 Commentary
2025-05-08 12:12:00 ET
Summary
- Class A shares outperformed the MSCI ACWI ex-US SMID Index and the Morningstar Foreign Small/Mid Growth peer group average (0.14) and finished in the top quartile of the peer group (28 out of 128).
- Apparent uncertainty about US industrial, tax and trade policy held back US stocks. International equities outperformed, particularly among small and mid-sized companies for whom proposed US tariff taxes present a potentially greater threat.
- Fund holdings have exposure to secular growth trends that may enable them to grow faster than the general economy in both expanding and recessionary environments. Pricing power may help them preserve profit margins in inflationary periods.
Standardized performance (%) as of March 31, 2025
Invesco International Small-Mid Company Fund Q1 2025 Commentary