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Invesco Global Emerging Markets Class Z - Income (GBP)

Sell:573.18p Buy:573.18p Change: 11.05p (1.97%)
Prices as at 2 January 2026
Sell:573.18p
Buy:573.18p
Change: 11.05p (1.97%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 2 January 2026
Sell:573.18p
Buy:573.18p
Change: 11.05p (1.97%)
Prices as at 2 January 2026
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

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Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

Charlie Bond joined Invesco in 2012 and became lead manager of this fund in January 2020. He has final say over which companies are in the fund but receives input from other members of the team, including Matt Pigott, the fund’s deputy manager.

Pigott joined Invesco in 2022 and has worked as an emerging markets analyst since 2017. He was appointed deputy manager in 2024.

Bond also has the support of William Lam and Ian Hargreaves, who are co-Heads of Asia & Emerging Markets at Invesco. Both are seasoned investors in companies across Asia, with Hargreaves joining Invesco in 1994 and Lam in 2006. Given Asian countries make up a large proportion of the emerging markets universe, we feel their experience is relevant.

The managers also manage or contribute to a number of other Asia and emerging markets funds at Invesco. These funds all use the same core investment process and, given the amount of overlap, we’re comfortable they can handle these responsibilities.

Our view on the sector

The emerging markets are a diverse range of economies stretching from Asia and Eastern Europe to South Africa and Latin America. Some are rich in commodities and natural resources, some rely on exporting goods to Western economies, and others have a vibrant consumer-driven society. They're all at different stages of economic development and while we think they've got great long-term growth prospects, they're more volatile and higher-risk than more developed ones. We think a broad global emerging markets fund could be a good starting point, then there are others that focus on a specific country or region.

Performance Analysis

Since Charlie Bond became lead manager in 2020, the fund’s returns are ahead of the MSCI Emerging Markets benchmark and the average peer in the IA Global Emerging Markets sector. Past performance isn’t a guide to the future.

Our analysis shows that the managers have consistently added value through their stock selection. This is the ability to invest in companies that go on to perform well regardless of which country or sector they’re in, rather than making bigger economic calls and investing in the right areas of the market at the right time. This ability allows the managers to maintain a diversified fund that’s invested across many countries and industries.

Investors should be aware that emerging markets are volatile, higher risk and investment styles can come in and out of favour.

Investment Philosophy

The managers aim for the fund to perform better than the broader emerging markets stock market by investing in companies they think are undervalued by other investors.

The team believes that biases of other investors mean companies are often available at a share price lower than their true value. It might be that a company has missed a target, or that the sector in which the company operates is out of favour. In any case, the team aims to buy shares for less than they believe they’re worth.

Process and Portfolio Construction

Both fund managers and analysts search for companies where they think the share price is less than their actual value and try to understand the reasons behind this. The team then build a detailed understanding of the company, including meeting the management team, competitors, and suppliers, and assessing the company’s financial strength. Each idea is debated by the whole team, ensuring different viewpoints are considered.

This leads to a final portfolio of 50-60 companies. The managers mainly invest in large, established businesses. They also have the ability to invest in higher-risk smaller companies, though they don’t currently invest much in this part of the market.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

02/01/21 to 02/01/22 02/01/22 to 02/01/23 02/01/23 to 02/01/24 02/01/24 to 02/01/25 02/01/25 to 02/01/26
Annual return 3.31% -5.60% 8.01% 12.97% 33.50%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

Manager Name: William Lam
Manager start date: 28 September 2018
Manager located in: Henley-on-Thames

Based in Henley-on-Thames, William manages the Asian portion of the Pacific Fund. He also contributes ideas to the other Asian funds in our range for all sectors and geographies, and has a particular focus on Korea, Taiwan and the technology sector. William began his career in 1995, joining the John Lewis Partnership and then Deloitte in 1998, where he qualified as a chartered accountant. In 2001, he joined Orbis Investment Advisory as a global investment analyst, specialising in the telecommunications and technology sectors, before joining our company in May 2006. He holds an MA in Psychology and Philosophy from Oxford University, an MSc in Music Technology from York University, and is a CFA charterholder.

manager photo
Manager Name: Ian Hargreaves
Manager start date: 28 September 2018
Manager located in: Henley-on-Thames

Based in Henley-on-Thames, Ian manages pan-Asian portfolios alongside Stuart Parks and covers the entire Asian region in his research. He started his investment career with Invesco Asia Pacific in Hong Kong in 1994 as an investment analyst where he was responsible for coverage of Indonesia, Korea and the Indian sub-continent, as well as managing several regional institutional client accounts. In January 2005, Ian decided to return to the UK to join Invesco’s Asian Equities team. Ian holds a BA (Honours) in Chinese Studies from Durham University and is a CFA charterholder.

Manager Name: Charles Bond
Manager start date: 31 January 2020
Manager located in: Henley-on-Thames

Based in Henley-on-Thames, Charles is a Deputy Fund Manager on the Invesco Perpetual Pacific and Invesco Pacific Equity Funds and covers the whole Asia Pacific region within his remit, working closely with Fund Manager William Lam. Charles joined our company in April 2012 having started his investment career within the fund research team at Chelsea Financial Services in January 2011. Charles holds a BSc (Hons) in International Relations from the University of Manchester and the IMC qualification from the CFA Society of the UK.

Manager Name: Matthew Pigott
Manager start date: 1 February 2024
Manager located in: TBC

TBC

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now