Invesco Global Funds Government Money Market Fund

Seeks to provide long-term capital appreciation by investing in a diversified portfolio of Money Market securities. The fund aims to outperform its benchmark, the ICE BofA 3-Month T-Bill Index, over a full market cycle while managing downside risk through rigorous fundamental analysis.

Our investment framework is anchored in the belief that markets are not perfectly efficient, and that skilled active management can generate meaningful alpha over a full market cycle. We focus on companies with durable competitive advantages — businesses that can compound capital at attractive rates over extended periods, often referred to as "quality compounders."

The fund employs a concentrated, high-conviction portfolio construction approach. Rather than diluting our best ideas across hundreds of positions, we focus our capital in our strongest convictions. This approach requires courage and discipline, particularly during periods of market stress, but history has shown it to be a reliable path to outperformance for patient investors.

Stewardship is not a compliance exercise for us — it is a fundamental expression of our fiduciary duty to clients. We believe that as significant shareholders in the companies we invest in, we have both the right and the responsibility to engage actively with management on issues that are material to long-term value creation.

Our stewardship programme is organised around three pillars: monitoring and assessment, engagement, and voting. Our monitoring framework tracks a comprehensive set of corporate governance and sustainability indicators for every holding, flagging material changes for immediate review. Our engagement programme involves direct dialogue with boards and senior management, focusing on the issues where we have the highest conviction that change will create value. Our voting programme applies a rigorous set of guidelines that prioritise shareholder rights, board accountability, and executive pay alignment.

The transition to clean energy remains one of the most powerful investment themes of our generation. The combination of rapidly declining costs for renewable energy technologies, supportive government policy frameworks in major economies, and growing corporate sustainability commitments is driving investment at a scale not seen since the post-war industrialisation wave.

We have significant exposure to this theme across multiple sectors: utilities and energy infrastructure, industrial companies enabling electrification and efficiency improvements, materials suppliers to the clean energy sector, and technology companies providing the software and analytics to optimise energy systems. Our exposure is carefully diversified to avoid concentration in any single technology or government subsidy programme.

Our organisation was built on the conviction that great investment management requires three non-negotiable ingredients: exceptional people, a rigorous process, and a culture that rewards long-term thinking over short-term performance chasing. Over the years, we have invested heavily in all three.

Our people are our greatest asset. We hire selectively — seeking individuals who combine analytical excellence with genuine intellectual curiosity and strong ethical character. Once on board, we invest in their development through structured mentorship programmes, rotational assignments, and regular exposure to the world's leading academic thinkers in finance and economics. Our annual attrition rate among investment staff is significantly below industry average, a reflection of the culture we have built.

The fund manager's biography reads like a compendium of investment excellence. After graduating with a first-class degree in Economics and Mathematics from a leading university, the manager began their career at a bulge-bracket investment bank, spending five years building expertise in equity research. They subsequently joined a hedge fund, where they developed skills in short-selling and sophisticated derivatives strategies, before moving into long-only asset management.

Over their career, the manager has personally overseen more than $20 billion in assets at various stages, including navigating the portfolio through the 2008 financial crisis with remarkably resilient performance. They have been recognised by multiple industry publications as among the top portfolio managers in their asset class, and regularly contribute to academic and industry research on factor investing, behavioural finance, and portfolio construction.