Fund info

Invesco Emerging Markets Local Debt Fund Class A is an actively managed mutual fund focused on **local-currency sovereign debt** and associated foreign exchange exposures across emerging markets. The fund’s primary objective is **total return**, combining income from government bonds with potential gains from movements in local interest rates and currencies. It employs a **top‑down macro** framework alongside **bottom‑up country analysis** to allocate risk between duration and FX, seeking diversified drivers of return while managing downside risk. The portfolio is predominantly invested in **emerging market sovereign bonds**, complemented by selective derivatives and cash for liquidity and currency management. Recent holdings have included bonds from countries such as **Poland, South Africa, Malaysia, India, Türkiye, Indonesia, Colombia, and Mexico**, reflecting broad geographic exposure to local rate and FX cycles. The strategy integrates **ESG considerations** into its process and is positioned as a **pure‑play EM local bond** solution intended to complement developed‑market fixed income allocations. As a front‑load share class, it offers access to the team’s long-standing **international fixed-income** expertise dating back to the mid‑1990s.