# EDGAR Filing Document

**Accession Number:** 0000019034
**File Stem:** 0001193125-26-092401
**Filing Date:** 2026-3
**Character Count:** 598717
**Document Hash:** e8c09811286e95315f16ea22e04ae937
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-092401.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0001193125-26-092401

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 65

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**EFFECTIVENESS DATE**: 20260305

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM FUNDS GROUP (INVESCO FUNDS GROUP)
- **CENTRAL INDEX KEY:** 0000019034

**ORGANIZATION NAME:**
- **EIN:** 060841973
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01540
- **FILM NUMBER:** 26724034

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 7136261919

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM FUNDS GROUP
- **DATE OF NAME CHANGE:** 20060203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM FUNDS GROUP/DE
- **DATE OF NAME CHANGE:** 19940718

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM FUNDS GROUP
- **DATE OF NAME CHANGE:** 19921016

## Series and Classes Contracts Data

### Invesco Global Small Cap Equity Fund (Series ID: S000000212)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000470 | Class A      | ESMAX           |
| C000000472 | Class C      | ESMCX           |
| C000071337 | Class Y      | ESMYX           |
| C000188905 | Class R6     |  |

### INVESCO Global Core Equity Fund (Series ID: S000000213)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000473 | Class A      | AWSAX           |
| C000000475 | Class C      | AWSCX           |
| C000022912 | CLASS R5     | AWSIX           |
| C000071338 | Class Y      | AWSYX           |
| C000095997 | Class R      | AWSRX           |
| C000188906 | Class R6     |  |

### Invesco International Small Company Fund (Series ID: S000000214)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000476 | Class A      | IEGAX           |
| C000000478 | Class C      | IEGCX           |
| C000022913 | CLASS R5     | IEGIX           |
| C000071339 | Class Y      | IEGYX           |
| C000120709 | Class R6     | IEGFX           |

### INVESCO Small Cap Equity Fund (Series ID: S000000218)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000490 | Class A      | SMEAX           |
| C000000492 | Class C      | SMECX           |
| C000000493 | Class R      | SMERX           |
| C000022917 | CLASS R5     | SMEIX           |
| C000071342 | Class Y      | SMEYX           |
| C000120710 | Class R6     | SMEFX           |

?xml version='1.0' encoding='ASCII'? 07b61aff-b3e8-4b78-9194-9615f1f06dc5

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number
811-01540

AIM Funds Group (Invesco Funds Group)

(Exact name of registrant as specified in charter)

------

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Glenn Brightman, Principal Executive Officer

11 Greenway Plaza, Suite 1000

Houston, Texas 77046

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(713) 626-1919

#### Date of fiscal year end:
December 31

#### Date of reporting period:
December 31, 2025

Item 1. Reports to Stockholders.

(a) The Registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") is as follows:

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class A: AWSAX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class A) | $133 | 1.24% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class A shares of the Fund, excluding sales charge, returned 15.25%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897864.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class A) —including sales charge** | 8.93% | 6.82% | 8.08% |
| **Invesco Global Core Equity Fund (Class A) —excluding sales charge** | 15.25% | 8.03% | 8.69% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897869.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-A Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class C: AWSCX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class C) | $213 | 1.99% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class C shares of the Fund, excluding sales charge, returned 14.43%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897900.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class C) —including sales charge** | 13.43% | 7.25% | 8.05% |
| **Invesco Global Core Equity Fund (Class C) —excluding sales charge** | 14.43% | 7.25% | 8.05% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897905.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-C Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class R: AWSRX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class R) | $160 | 1.49% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class R shares of the Fund returned 14.97%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897936.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class R)** | 14.97% | 7.77% | 8.43% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897941.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-R Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class Y: AWSYX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class Y) | $107 | 0.99% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class Y shares of the Fund returned 15.60%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897972.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class Y)** | 15.60% | 8.30% | 8.97% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897977.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-Y Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class R5: AWSIX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class R5) | $102 | 0.95% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class R5 shares of the Fund returned 15.57%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898008.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class R5)** | 15.57% | 8.34% | 9.00% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898013.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-R5 Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Core Equity Fund

### Class R6: AWSSX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Core Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Core Equity Fund<br>(Class R6) | $95 | 0.88% |

---

### How Did The Fund Perform During The Period?
**•** For the fiscal year ended December 31, 2025, global equities delivered positive results despite tariff related uncertainty in the first half of the year. Market sentiment improved in the second half of the year as investors focused on the positive effects of fiscal and monetary stimulus. Artificial intelligence (AI) remained a key market theme throughout the year. International equities outperformed US equities. Within international markets, value stocks outperformed, while in the US, growth stocks led performance. European equities and emerging market equities were among the strongest performers.

**•** For the fiscal year ended December 31, 2025, Class R6 shares of the Fund returned 15.70%. For the same time period, the MSCI World IndexSM (Net) (the "Benchmark") returned 21.09%. The Fund underperformed its Benchmark primarily due to weaker stock selection in the financials, industrials, and health care sectors. These results were partially offset by strong stock selection within the consumer discretionary sector.

#### What contributed to performance?
**Amphenol Corp. \|** Amphenol designs, manufactures, and markets high-technology interconnect, sensor, and antenna solutions. The company benefited from strong demand for its electrical interconnect components, which sell into the data center industry. The company also benefited from strengthening military demand.

**Taiwan Semiconductor Manufacturing Co. Ltd. \|** Taiwan Semiconductor, a semiconductor foundry business, benefited from robust demand for high-performance computing chips related to the build-out of the infrastructure needed to support AI development.

#### What detracted from performance?
**Thermo Fisher Scientific, Inc. \|** Thermo Fisher, a global leader in life sciences tools, consumables and diagnostics, downgraded its financial guidance for 2025 based on its early assessment of tariffs. This, combined with the increasingly hawkish healthcare policy proposals from the US federal government, led investors to worry whether its pharmaceutical and biotech customers will curtail research and development investments, potentially reducing their purchasing of Thermos' industry-leading equipment.

**Canadian Pacific Kansas City Ltd. \|** Canadian Pacific Kansas City is the first and only single-line railroad directly connecting Canada, the United States, and Mexico. Shares in the company underperformed as a result of ongoing tepid volume trends and concerns around the impact of tariffs on Mexico and Canada. The announced merger of Union Pacific and Norfolk Southern was also perceived to present an increased competitive threat to the company.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898044.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Core Equity Fund (Class R6)** | 15.70% | 8.42% | 9.00% |
| **MSCI World IndexSM (Net)** | 21.09% | 12.15% | 12.17% |

---

Class R6 shares incepted on April 4, 2017. Performance shown prior to that date is that of Class A shares at net asset value and includes the 12b-1 fees applicable to Class A shares. Class R6 shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$622373965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$4773512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;4.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;3.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;2.05% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898049.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

GCE-AR-R6 Invesco Global Core Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Small Cap Equity Fund

### Class A: ESMAX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Small Cap Equity Fund (the "Fund"), formerly Invesco EQV European Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Small Cap Equity Fund<br>(Class A) | $153 | 1.38%† |

---

† Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, despite posting double-digit returns, global small-cap equities lagged large cap peers, owing to enthusiasm around artificial intelligence and the continued leadership of larger technology companies in the US. In a year marked by deglobalization, rising protectionism and tariff pressures also benefited large caps due to their perceived safety and stability.

**•** For the fiscal year ended December 31, 2025, Class A shares of the Fund, excluding sales charge, returned 22.00%. For the same time period, the MSCI ACWI Small Cap Index (Net) (the "Benchmark") returned 19.72%. The Fund outperformed the Benchmark primarily due to stronger stock selection within the energy sector. These results were partially offset by weaker stock selection within the information technology sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies has benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity. The holding was sold over the period in favor of holdings the team believed would to be a better fit for the portfolio.

#### What detracted from performance?
**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for the credit, real estate, and insurance industries. Despite reporting strong 2025 first half earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

**Fermi, Inc. \|** Fermi is an electric grid company that held its initial public offering in October 2025. Shares came under pressure on the news that the company had ended a deal with its first tenant at its Matador data center campus in Texas. The agreement was worth up to $150 million.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897693.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Small Cap Equity Fund (Class A) —including sales charge** | 15.29% | 7.08% | 7.70% |
| **Invesco Global Small Cap Equity Fund (Class A) —excluding sales charge** | 22.00% | 8.29% | 8.31% |
| **MSCI ACWI Small Cap Index (Net)** | 19.72% | 7.29% | 9.32% |
| **MSCI Europe Index (Net)** | 35.41% | 10.30% | 8.52% |
| **MSCI ACWI Index (Net)** | 22.34% | 11.19% | 11.72% |

---

Effective August 22, 2025, the Fund changed its broad-based securities market benchmark from the MSCI Europe Index (Net) to the MSCI ACWI Index (Net) to better align with the Fund's current strategy and global exposure.

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$167113003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1414271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Karelia Tobacco Co., Inc. S.A. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;1.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Laboratorios Farmaceuticos Rovi S.A. | &nbsp;&nbsp;&nbsp;1.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Flex Ltd. | &nbsp;&nbsp;&nbsp;1.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;1.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;1.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;1.40% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897698.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund.

Effective August 22, 2025, Invesco EQV European Small Company Fund was renamed Invesco Global Small Cap Equity Fund. In connection with repositioning the Fund to a global small cap equity fund, the Fund's principal investment strategies and risks changed, including revising its 80% investment policy, to reflect the Fund's focus on achieving its investment objective by investing in global small-capitalization issuers located in developed and emerging markets. Additionally, the contractual management fee for the Fund was lowered to 0.85% of the Fund's average daily net assets for the first $250 million in assets; 0.825% of the Fund's average daily net assets for the next $250 million in assets; 0.785% of the Fund's average daily net assets for the next $500 million in assets; and 0.76% of the Fund's average daily net assets over $1 billion in assets. Further, the Fund's expense limits for Class A, Class C, Class Y and Class R6 shares were lowered to 1.24%, 1.99%, 0.99% and 0.99%, respectively, of the Fund's average daily net assets pursuant to a new contractual fee waiver agreement with Invesco Advisers, Inc.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ESC-AR-A Invesco Global Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Small Cap Equity Fund

### Class C: ESMCX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Small Cap Equity Fund (the "Fund"), formerly Invesco EQV European Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Small Cap Equity Fund<br>(Class C) | $237 | 2.14%† |

---

† Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, despite posting double-digit returns, global small-cap equities lagged large cap peers, owing to enthusiasm around artificial intelligence and the continued leadership of larger technology companies in the US. In a year marked by deglobalization, rising protectionism and tariff pressures also benefited large caps due to their perceived safety and stability.

**•** For the fiscal year ended December 31, 2025, Class C shares of the Fund, excluding sales charge, returned 21.12%. For the same time period, the MSCI ACWI Small Cap Index (Net) (the "Benchmark") returned 19.72%. The Fund outperformed the Benchmark primarily due to stronger stock selection within the energy sector. These results were partially offset by weaker stock selection within the information technology sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies has benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity. The holding was sold over the period in favor of holdings the team believed would to be a better fit for the portfolio.

#### What detracted from performance?
**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for the credit, real estate, and insurance industries. Despite reporting strong 2025 first half earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

**Fermi, Inc. \|** Fermi is an electric grid company that held its initial public offering in October 2025. Shares came under pressure on the news that the company had ended a deal with its first tenant at its Matador data center campus in Texas. The agreement was worth up to $150 million.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897756.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Small Cap Equity Fund (Class C) —including sales charge** | 20.25% | 7.48% | 7.67% |
| **Invesco Global Small Cap Equity Fund (Class C) —excluding sales charge** | 21.12% | 7.48% | 7.67% |
| **MSCI ACWI Small Cap Index (Net)** | 19.72% | 7.29% | 9.32% |
| **MSCI Europe Index (Net)** | 35.41% | 10.30% | 8.52% |
| **MSCI ACWI Index (Net)** | 22.34% | 11.19% | 11.72% |

---

Effective August 22, 2025, the Fund changed its broad-based securities market benchmark from the MSCI Europe Index (Net) to the MSCI ACWI Index (Net) to better align with the Fund's current strategy and global exposure.

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$167113003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1414271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Karelia Tobacco Co., Inc. S.A. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;1.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Laboratorios Farmaceuticos Rovi S.A. | &nbsp;&nbsp;&nbsp;1.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Flex Ltd. | &nbsp;&nbsp;&nbsp;1.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;1.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;1.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;1.40% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897761.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund.

Effective August 22, 2025, Invesco EQV European Small Company Fund was renamed Invesco Global Small Cap Equity Fund. In connection with repositioning the Fund to a global small cap equity fund, the Fund's principal investment strategies and risks changed, including revising its 80% investment policy, to reflect the Fund's focus on achieving its investment objective by investing in global small-capitalization issuers located in developed and emerging markets. Additionally, the contractual management fee for the Fund was lowered to 0.85% of the Fund's average daily net assets for the first $250 million in assets; 0.825% of the Fund's average daily net assets for the next $250 million in assets; 0.785% of the Fund's average daily net assets for the next $500 million in assets; and 0.76% of the Fund's average daily net assets over $1 billion in assets. Further, the Fund's expense limits for Class A, Class C, Class Y and Class R6 shares were lowered to 1.24%, 1.99%, 0.99% and 0.99%, respectively, of the Fund's average daily net assets pursuant to a new contractual fee waiver agreement with Invesco Advisers, Inc.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ESC-AR-C Invesco Global Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Small Cap Equity Fund

### Class Y: ESMYX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Small Cap Equity Fund (the "Fund"), formerly Invesco EQV European Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Small Cap Equity Fund<br>(Class Y) | $127 | 1.14%† |

---

† Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, despite posting double-digit returns, global small-cap equities lagged large cap peers, owing to enthusiasm around artificial intelligence and the continued leadership of larger technology companies in the US. In a year marked by deglobalization, rising protectionism and tariff pressures also benefited large caps due to their perceived safety and stability.

**•** For the fiscal year ended December 31, 2025, Class Y shares of the Fund returned 22.43%. For the same time period, the MSCI ACWI Small Cap Index (Net) (the "Benchmark") returned 19.72%. The Fund outperformed the Benchmark primarily due to stronger stock selection within the energy sector. These results were partially offset by weaker stock selection within the information technology sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies has benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity. The holding was sold over the period in favor of holdings the team believed would to be a better fit for the portfolio.

#### What detracted from performance?
**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for the credit, real estate, and insurance industries. Despite reporting strong 2025 first half earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

**Fermi, Inc. \|** Fermi is an electric grid company that held its initial public offering in October 2025. Shares came under pressure on the news that the company had ended a deal with its first tenant at its Matador data center campus in Texas. The agreement was worth up to $150 million.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897792.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Small Cap Equity Fund (Class Y)** | 22.43% | 8.58% | 8.59% |
| **MSCI ACWI Small Cap Index (Net)** | 19.72% | 7.29% | 9.32% |
| **MSCI Europe Index (Net)** | 35.41% | 10.30% | 8.52% |
| **MSCI ACWI Index (Net)** | 22.34% | 11.19% | 11.72% |

---

Effective August 22, 2025, the Fund changed its broad-based securities market benchmark from the MSCI Europe Index (Net) to the MSCI ACWI Index (Net) to better align with the Fund's current strategy and global exposure.

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$167113003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1414271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Karelia Tobacco Co., Inc. S.A. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;1.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Laboratorios Farmaceuticos Rovi S.A. | &nbsp;&nbsp;&nbsp;1.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Flex Ltd. | &nbsp;&nbsp;&nbsp;1.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;1.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;1.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;1.40% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897797.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund.

Effective August 22, 2025, Invesco EQV European Small Company Fund was renamed Invesco Global Small Cap Equity Fund. In connection with repositioning the Fund to a global small cap equity fund, the Fund's principal investment strategies and risks changed, including revising its 80% investment policy, to reflect the Fund's focus on achieving its investment objective by investing in global small-capitalization issuers located in developed and emerging markets. Additionally, the contractual management fee for the Fund was lowered to 0.85% of the Fund's average daily net assets for the first $250 million in assets; 0.825% of the Fund's average daily net assets for the next $250 million in assets; 0.785% of the Fund's average daily net assets for the next $500 million in assets; and 0.76% of the Fund's average daily net assets over $1 billion in assets. Further, the Fund's expense limits for Class A, Class C, Class Y and Class R6 shares were lowered to 1.24%, 1.99%, 0.99% and 0.99%, respectively, of the Fund's average daily net assets pursuant to a new contractual fee waiver agreement with Invesco Advisers, Inc.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ESC-AR-Y Invesco Global Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Global Small Cap Equity Fund

### Class R6: ESMSX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Global Small Cap Equity Fund (the "Fund"), formerly Invesco EQV European Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Small Cap Equity Fund<br>(Class R6) | $120 | 1.08%† |

---

† Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, despite posting double-digit returns, global small-cap equities lagged large cap peers, owing to enthusiasm around artificial intelligence and the continued leadership of larger technology companies in the US. In a year marked by deglobalization, rising protectionism and tariff pressures also benefited large caps due to their perceived safety and stability.

**•** For the fiscal year ended December 31, 2025, Class R6 shares of the Fund returned 22.51%. For the same time period, the MSCI ACWI Small Cap Index (Net) (the "Benchmark") returned 19.72%. The Fund outperformed the Benchmark primarily due to stronger stock selection within the energy sector. These results were partially offset by weaker stock selection within the information technology sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies has benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity. The holding was sold over the period in favor of holdings the team believed would to be a better fit for the portfolio.

#### What detracted from performance?
**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for the credit, real estate, and insurance industries. Despite reporting strong 2025 first half earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

**Fermi, Inc. \|** Fermi is an electric grid company that held its initial public offering in October 2025. Shares came under pressure on the news that the company had ended a deal with its first tenant at its Matador data center campus in Texas. The agreement was worth up to $150 million.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9897828.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Small Cap Equity Fund (Class R6)** | 22.51% | 8.69% | 8.64% |
| **MSCI ACWI Small Cap Index (Net)** | 19.72% | 7.29% | 9.32% |
| **MSCI Europe Index (Net)** | 35.41% | 10.30% | 8.52% |
| **MSCI ACWI Index (Net)** | 22.34% | 11.19% | 11.72% |

---

Class R6 shares incepted on April 4, 2017. Performance shown prior to that date is that of Class A shares at net asset value and includes the 12b-1 fees applicable to Class A shares.Class R6 shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.

Effective August 22, 2025, the Fund changed its broad-based securities market benchmark from the MSCI Europe Index (Net) to the MSCI ACWI Index (Net) to better align with the Fund's current strategy and global exposure.

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$167113003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1414271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;147% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Karelia Tobacco Co., Inc. S.A. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;1.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Laboratorios Farmaceuticos Rovi S.A. | &nbsp;&nbsp;&nbsp;1.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Flex Ltd. | &nbsp;&nbsp;&nbsp;1.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;1.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;1.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;1.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;1.40% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9897833.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund.

Effective August 22, 2025, Invesco EQV European Small Company Fund was renamed Invesco Global Small Cap Equity Fund. In connection with repositioning the Fund to a global small cap equity fund, the Fund's principal investment strategies and risks changed, including revising its 80% investment policy, to reflect the Fund's focus on achieving its investment objective by investing in global small-capitalization issuers located in developed and emerging markets. Additionally, the contractual management fee for the Fund was lowered to 0.85% of the Fund's average daily net assets for the first $250 million in assets; 0.825% of the Fund's average daily net assets for the next $250 million in assets; 0.785% of the Fund's average daily net assets for the next $500 million in assets; and 0.76% of the Fund's average daily net assets over $1 billion in assets. Further, the Fund's expense limits for Class A, Class C, Class Y and Class R6 shares were lowered to 1.24%, 1.99%, 0.99% and 0.99%, respectively, of the Fund's average daily net assets pursuant to a new contractual fee waiver agreement with Invesco Advisers, Inc.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ESC-AR-R6 Invesco Global Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco International Small Company Fund

### Class A: IEGAX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco International Small Company Fund (the "Fund"), formerly known as Invesco EQV International Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco International Small Company Fund<br>(Class A) | $171 | 1.51% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, international small-cap equities lagged larger cap international peers but benefited from renewed investor interest relative to US and emerging market small caps. Rising protectionism and tariff pressures accelerated reshoring and nearshoring, helping smaller foreign firms face lower tariff drag and capitalize on supply-chain realignment.

**•** For the fiscal year ended December 31, 2025, Class A shares of the Fund, excluding sales charge, returned 25.83%. For the same time period, the MSCI ACWI ex USA Small Cap Index (Net) (the "Benchmark") returned 29.26%. The Fund underperformed the Benchmark primarily due to weaker stock selection and an underweight in the materials sector. These results were partially offset by stronger stock selection in the industrials sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025.

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity.

#### What detracted from performance?
**Amplifon SE \|** Amplifon is an Italian hearing aid retailer. The stock was weak as recovery in Europe, the Middle East and Africa (EMEA) remained elusive; this impacted the company's first half of 2025 earnings, which came in lower than expected while guidance was revised downwards. Ultimately, the holding was exited in favor of holdings the team believes to be a better fit for the portfolio.

**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for credit, real estate and insurance industries. Despite reporting strong first half of 2025 earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898080.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco International Small Company Fund (Class A) —including sales charge** | 18.90% | 6.77% | 7.89% |
| **Invesco International Small Company Fund (Class A) —excluding sales charge** | 25.83% | 7.99% | 8.51% |
| **MSCI ACWI ex USA Small Cap Index (Net)** | 29.26% | 6.91% | 8.13% |
| **MSCI ACWI ex-USA® Index (Net)** | 32.39% | 7.91% | 8.41% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$666583791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5465218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;2.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;2.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;flatexDEGIRO AG | &nbsp;&nbsp;&nbsp;2.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;2.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBM Offshore N.V. | &nbsp;&nbsp;&nbsp;2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kobe Bussan Co. Ltd. | &nbsp;&nbsp;&nbsp;2.06% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898085.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund. Additionally, the Fund modified its principal investment strategies to reflect that the Fund no longer focuses on securities its portfolio managers consider to have potential for earnings or revenue growth.

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ISC-AR-A Invesco International Small Company Fund

![TSR_logo](images_2661.jpg)

### Invesco International Small Company Fund

### Class C: IEGCX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco International Small Company Fund (the "Fund"), formerly known as Invesco EQV International Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco International Small Company Fund<br>(Class C) | $254 | 2.26% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, international small-cap equities lagged larger cap international peers but benefited from renewed investor interest relative to US and emerging market small caps. Rising protectionism and tariff pressures accelerated reshoring and nearshoring, helping smaller foreign firms face lower tariff drag and capitalize on supply-chain realignment.

**•** For the fiscal year ended December 31, 2025, Class C shares of the Fund, excluding sales charge, returned 24.90%. For the same time period, the MSCI ACWI ex USA Small Cap Index (Net) (the "Benchmark") returned 29.26%. The Fund underperformed the Benchmark primarily due to weaker stock selection and an underweight in the materials sector. These results were partially offset by stronger stock selection in the industrials sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025.

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity.

#### What detracted from performance?
**Amplifon SE \|** Amplifon is an Italian hearing aid retailer. The stock was weak as recovery in Europe, the Middle East and Africa (EMEA) remained elusive; this impacted the company's first half of 2025 earnings, which came in lower than expected while guidance was revised downwards. Ultimately, the holding was exited in favor of holdings the team believes to be a better fit for the portfolio.

**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for credit, real estate and insurance industries. Despite reporting strong first half of 2025 earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898116.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco International Small Company Fund (Class C) —including sales charge** | 23.90% | 7.18% | 7.85% |
| **Invesco International Small Company Fund (Class C) —excluding sales charge** | 24.90% | 7.18% | 7.85% |
| **MSCI ACWI ex USA Small Cap Index (Net)** | 29.26% | 6.91% | 8.13% |
| **MSCI ACWI ex-USA® Index (Net)** | 32.39% | 7.91% | 8.41% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$666583791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5465218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;2.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;2.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;flatexDEGIRO AG | &nbsp;&nbsp;&nbsp;2.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;2.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBM Offshore N.V. | &nbsp;&nbsp;&nbsp;2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kobe Bussan Co. Ltd. | &nbsp;&nbsp;&nbsp;2.06% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898121.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund. Additionally, the Fund modified its principal investment strategies to reflect that the Fund no longer focuses on securities its portfolio managers consider to have potential for earnings or revenue growth.

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ISC-AR-C Invesco International Small Company Fund

![TSR_logo](images_2661.jpg)

### Invesco International Small Company Fund

### Class Y: IEGYX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco International Small Company Fund (the "Fund"), formerly known as Invesco EQV International Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco International Small Company Fund<br>(Class Y) | $143 | 1.26% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, international small-cap equities lagged larger cap international peers but benefited from renewed investor interest relative to US and emerging market small caps. Rising protectionism and tariff pressures accelerated reshoring and nearshoring, helping smaller foreign firms face lower tariff drag and capitalize on supply-chain realignment.

**•** For the fiscal year ended December 31, 2025, Class Y shares of the Fund returned 26.22%. For the same time period, the MSCI ACWI ex USA Small Cap Index (Net) (the "Benchmark") returned 29.26%. The Fund underperformed the Benchmark primarily due to weaker stock selection and an underweight in the materials sector. These results were partially offset by stronger stock selection in the industrials sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025.

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity.

#### What detracted from performance?
**Amplifon SE \|** Amplifon is an Italian hearing aid retailer. The stock was weak as recovery in Europe, the Middle East and Africa (EMEA) remained elusive; this impacted the company's first half of 2025 earnings, which came in lower than expected while guidance was revised downwards. Ultimately, the holding was exited in favor of holdings the team believes to be a better fit for the portfolio.

**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for credit, real estate and insurance industries. Despite reporting strong first half of 2025 earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898152.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco International Small Company Fund (Class Y)** | 26.22% | 8.27% | 8.78% |
| **MSCI ACWI ex USA Small Cap Index (Net)** | 29.26% | 6.91% | 8.13% |
| **MSCI ACWI ex-USA® Index (Net)** | 32.39% | 7.91% | 8.41% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$666583791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5465218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;2.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;2.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;flatexDEGIRO AG | &nbsp;&nbsp;&nbsp;2.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;2.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBM Offshore N.V. | &nbsp;&nbsp;&nbsp;2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kobe Bussan Co. Ltd. | &nbsp;&nbsp;&nbsp;2.06% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898157.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund. Additionally, the Fund modified its principal investment strategies to reflect that the Fund no longer focuses on securities its portfolio managers consider to have potential for earnings or revenue growth.

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ISC-AR-Y Invesco International Small Company Fund

![TSR_logo](images_2661.jpg)

### Invesco International Small Company Fund

### Class R5: IEGIX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco International Small Company Fund (the "Fund"), formerly known as Invesco EQV International Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco International Small Company Fund<br>(Class R5) | $126 | 1.11% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, international small-cap equities lagged larger cap international peers but benefited from renewed investor interest relative to US and emerging market small caps. Rising protectionism and tariff pressures accelerated reshoring and nearshoring, helping smaller foreign firms face lower tariff drag and capitalize on supply-chain realignment.

**•** For the fiscal year ended December 31, 2025, Class R5 shares of the Fund returned 26.31%. For the same time period, the MSCI ACWI ex USA Small Cap Index (Net) (the "Benchmark") returned 29.26%. The Fund underperformed the Benchmark primarily due to weaker stock selection and an underweight in the materials sector. These results were partially offset by stronger stock selection in the industrials sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025.

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity.

#### What detracted from performance?
**Amplifon SE \|** Amplifon is an Italian hearing aid retailer. The stock was weak as recovery in Europe, the Middle East and Africa (EMEA) remained elusive; this impacted the company's first half of 2025 earnings, which came in lower than expected while guidance was revised downwards. Ultimately, the holding was exited in favor of holdings the team believes to be a better fit for the portfolio.

**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for credit, real estate and insurance industries. Despite reporting strong first half of 2025 earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898188.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco International Small Company Fund (Class R5)** | 26.31% | 8.45% | 8.94% |
| **MSCI ACWI ex USA Small Cap Index (Net)** | 29.26% | 6.91% | 8.13% |
| **MSCI ACWI ex-USA® Index (Net)** | 32.39% | 7.91% | 8.41% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$666583791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5465218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;2.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;2.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;flatexDEGIRO AG | &nbsp;&nbsp;&nbsp;2.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;2.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBM Offshore N.V. | &nbsp;&nbsp;&nbsp;2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kobe Bussan Co. Ltd. | &nbsp;&nbsp;&nbsp;2.06% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898193.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund. Additionally, the Fund modified its principal investment strategies to reflect that the Fund no longer focuses on securities its portfolio managers consider to have potential for earnings or revenue growth.

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ISC-AR-R5 Invesco International Small Company Fund

![TSR_logo](images_2661.jpg)

### Invesco International Small Company Fund

### Class R6: IEGFX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco International Small Company Fund (the "Fund"), formerly known as Invesco EQV International Small Company Fund, for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco International Small Company Fund<br>(Class R6) | $118 | 1.04% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, international small-cap equities lagged larger cap international peers but benefited from renewed investor interest relative to US and emerging market small caps. Rising protectionism and tariff pressures accelerated reshoring and nearshoring, helping smaller foreign firms face lower tariff drag and capitalize on supply-chain realignment.

**•** For the fiscal year ended December 31, 2025, Class R6 shares of the Fund returned 26.42%. For the same time period, the MSCI ACWI ex USA Small Cap Index (Net) (the "Benchmark") returned 29.26%. The Fund underperformed the Benchmark primarily due to weaker stock selection and an underweight in the materials sector. These results were partially offset by stronger stock selection in the industrials sector.

#### What contributed to performance?
**Exail Technologies S.A. \|** Exail Technologies is a French industrial company that is vertically integrated and specializes in advanced technologies for autonomous robotics. Exail Technologies benefited from a major contract with a leading navy for an autonomous anti-mine drone system that the company secured earlier in 2025.

**flatexDEGIRO AG \|** flatexDEGIRO is a leading pan-European discount broker. The stock performed well on strong earnings results driven by customer growth and rising commission income and customer activity.

#### What detracted from performance?
**Amplifon SE \|** Amplifon is an Italian hearing aid retailer. The stock was weak as recovery in Europe, the Middle East and Africa (EMEA) remained elusive; this impacted the company's first half of 2025 earnings, which came in lower than expected while guidance was revised downwards. Ultimately, the holding was exited in favor of holdings the team believes to be a better fit for the portfolio.

**Hypoport SE \|** Hypoport is a German company that develops and operates digital platforms for credit, real estate and insurance industries. Despite reporting strong first half of 2025 earnings results, ongoing weakness in the German housing market and a weaker economic backdrop impacted Hypoport's financing platform segment and weighed on Hypoport's shares over the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898224.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco International Small Company Fund (Class R6)** | 26.42% | 8.52% | 9.01% |
| **MSCI ACWI ex USA Small Cap Index (Net)** | 29.26% | 6.91% | 8.13% |
| **MSCI ACWI ex-USA® Index (Net)** | 32.39% | 7.91% | 8.41% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$666583791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5465218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;80% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;SigmaRoc PLC | &nbsp;&nbsp;&nbsp;2.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;2.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Helios Towers PLC | &nbsp;&nbsp;&nbsp;2.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;flatexDEGIRO AG | &nbsp;&nbsp;&nbsp;2.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;2.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asker Healthcare Group AB | &nbsp;&nbsp;&nbsp;2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;SBM Offshore N.V. | &nbsp;&nbsp;&nbsp;2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kobe Bussan Co. Ltd. | &nbsp;&nbsp;&nbsp;2.06% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898229.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since December 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at <u>invesco.com/reports</u> or upon request at (800) 959-4246.

Effective June 23, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, began providing day-to-day management of the Fund. Additionally, the Fund modified its principal investment strategies to reflect that the Fund no longer focuses on securities its portfolio managers consider to have potential for earnings or revenue growth.

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

ISC-AR-R6 Invesco International Small Company Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class A: SMEAX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class A) | $126 | 1.21% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class A shares of the Fund, excluding sales charge, returned 7.78%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898260.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class A) —including sales charge** | 1.86% | 5.80% | 8.65% |
| **Invesco Small Cap Equity Fund (Class A) —excluding sales charge** | 7.78% | 7.01% | 9.26% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898265.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-A Invesco Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class C: SMECX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class C) | $203 | 1.96% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class C shares of the Fund, excluding sales charge, returned 6.98%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898296.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class C) —including sales charge** | 6.06% | 6.21% | 8.61% |
| **Invesco Small Cap Equity Fund (Class C) —excluding sales charge** | 6.98% | 6.21% | 8.61% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898301.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-C Invesco Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class R: SMERX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class R) | $152 | 1.46% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class R shares of the Fund returned 7.54%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898332.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class R)** | 7.54% | 6.73% | 8.99% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898337.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-R Invesco Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class Y: SMEYX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class Y) | $100 | 0.96% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class Y shares of the Fund returned 8.12%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898368.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class Y)** | 8.12% | 7.27% | 9.54% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund ?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The F un d's Hol di ngs?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898373.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-Y Invesco Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class R5: SMEIX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class R5) | $92 | 0.88% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class R5 shares of the Fund returned 8.15%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898404.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class R5)** | 8.15% | 7.38% | 9.69% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898409.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-R5 Invesco Small Cap Equity Fund

![TSR_logo](images_2661.jpg)

### Invesco Small Cap Equity Fund

### Class R6: SMEFX

#### ANNUAL SHAREHOLDER REPORT \| December 31, 2025
This annual shareholder report contains important information about Invesco Small Cap Equity Fund (the "Fund") for the period January 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>invesco.com/reports</u>. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Small Cap Equity Fund<br>(Class R6) | $84 | 0.81% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended December 31, 2025, US small cap equities saw improved performance as the Federal Reserve continued its easing cycle amid moderating inflation and a resilient labor market.

**•** For the fiscal year ended December 31, 2025, Class R6 shares of the Fund returned 8.31%. For the same time period, the Russell 2000® Index (the "Benchmark") returned 12.81%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the materials, health care, financials, energy, and real estate sectors. These results were partially offset by stronger stock selection in the industrials, utilities, consumer staples, and consumer discretionary sectors.

#### What contributed to performance?
**BrightSpring Health Services, Inc. \|** BrightSpring Health provides home and community-based healthcare services. The stock contributed to performance as strong full-year results highlighted accelerating growth in its specialty and infusion pharmacy business.

**Guardant Health, Inc. \|** Guardant Health operates as a biotechnology company. The company delivered a strong year with accelerating oncology revenues, growing adoption of their blood biopsy tests that focus on cancer treatment selection and monitoring (Guardant360 and Reveal), and Guardant Shield for colorectal cancer emerging as a second growth engine.

**ATI, Inc. \|** ATI produces specialty materials for global industrial and aerospace markets. The stock contributed to performance as the company raised 2025 earnings guidance and provided a positive outlook for 2026, supported by strong commercial and defense aerospace demand.

#### What detracted from performance?
**Fermi, Inc. \|** Fermi develops energy infrastructure. The company has faced delays and a canceled Amazon Web Services contract, creating uncertainty despite strong hyperscaler interest.

**CareDx, Inc. \|** CareDx develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The stock detracted from performance due to weaker demand for transplant diagnostics. We sold the stock during the period.

**Q2 Holdings, Inc. \|** Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The stock detracted from performance as slower digital banking adoption and weaker client spending weighed on growth expectations. We sold the stock during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9898440.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Small Cap Equity Fund (Class R6)** | 8.31% | 7.47% | 9.78% |
| **Russell 2000® Index** | 12.81% | 6.09% | 9.62% |
| **S&P 500® Index** | 17.88% | 14.42% | 14.82% |

---

**The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of December 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1042013941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$7233332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;60% |

---

### What Comprised The Fund's Holdings?
(as of December 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc. | &nbsp;&nbsp;&nbsp;2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;2.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;2.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. | &nbsp;&nbsp;&nbsp;2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. | &nbsp;&nbsp;&nbsp;2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) | &nbsp;&nbsp;&nbsp;2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;ATI, Inc. | &nbsp;&nbsp;&nbsp;1.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1.90% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9898445.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2660.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SCE-AR-R6 Invesco Small Cap Equity Fund

------

(b) Not applicable.

------

Item 2. Code of Ethics.

The Registrant has adopted a Code of Ethics (the "Code") that applies to the Registrant's Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"). This Code is filed as an exhibit to this report on Form N-CSR under Item 19(a)(1). No substantive amendments to this Code were made during the reporting period. There were no waivers for the fiscal year ended December 31, 2025.

------

Item 3. Audit Committee Financial Expert.

The Board of Trustees has determined that the Registrant has two audit committee financial experts serving on its Audit Committee: Anthony J. LaCava, Jr. and James Liddy. Each of these audit committee financial experts is "independent" within the meaning of that term as used in Form N-CSR.

------

Item 4. Principal Accountant Fees and Services.

------

(a) to (d)

#### Fees Billed by PwC Related to the Registrant
PricewaterhouseCoopers LLP ("PwC"), the Registrant's independent registered public accounting firm, billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all audit and non-audit services provided to the Registrant.

---

| | | |
|:---|:---|:---|
|  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2025  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2024  |
| Audit Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; 142926 | $&nbsp;&nbsp;&nbsp;&nbsp; 139824 |
| Audit-Related Fees<sup>(</sup><sup>1)</sup>  | $9112 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tax Fees<sup>(</sup><sup>2)</sup>  | $386969 | $178188 |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</u> | <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</u> |
| Total Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; 539007 | $318012 |

---

(1) Audit-Related Fees for the fiscal year ended 2025 includes fees billed for reviewing regulatory filings. 

(2) Tax Fees for the fiscal years ended 2025 and 2024 includes fees billed for preparation of U.S. Tax Returns and Taxable Income calculations, including excise tax, year-to-date estimates for various book-to-tax differences and other tax services. 

#### Fees Billed by PwC Related to Invesco and Affiliates
PwC billed Invesco Advisers, Inc. ("Invesco"), the Registrant's investment adviser, and any entity controlling, controlled by or under common control with Invesco that provides ongoing services to the Registrant ("Affiliates") aggregate fees for pre-approved non-audit services rendered to Invesco and Affiliates for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all non-audit services provided to Invesco and Affiliates that were required to be pre-approved.

---

| | | |
|:---|:---|:---|
|  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2025 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2024 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  |
| Audit-Related Fees<sup>(1)</sup>  | $&nbsp;&nbsp;&nbsp;&nbsp; 1195000 | $&nbsp;&nbsp;&nbsp;&nbsp; 1141000 |
| Tax Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u>  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u>  |
| Total Fees  | $1195000 | $&nbsp;&nbsp;&nbsp;&nbsp; 1141000 |

---

------

(1) Audit-Related Fees for the fiscal years ended 2025 and 2024 include fees billed related to reviewing controls at a service organization.

#### (e)(1)

#### PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES

#### POLICIES AND PROCEDURES
As adopted by the Audit Committees

of the Invesco Funds (the "Funds")

Last Amended March 29, 2017

I. **Statement of Principles** 

The Audit Committees (the "Audit Committee") of the Boards of Trustees of the Funds (the "Board") have adopted these policies and procedures (the "Procedures") with respect to the pre-approval of audit and non-audit services to be provided by the Funds' independent auditor (the "Auditor") to the Funds, and to the Funds' investment adviser(s) and any entity controlling, controlled by, or under common control with the investment adviser(s) that provides ongoing services to the Funds (collectively, "Service Affiliates").

Under Section 202 of the Sarbanes-Oxley Act of 2002, all audit and non-audit services provided to the Funds by the Auditor must be preapproved by the Audit Committee. Rule 2-01 of Regulation S-X requires that the Audit Committee also pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds (a "Service Affiliate's Covered Engagement").

These Procedures set forth the procedures and the conditions pursuant to which the Audit Committee may pre-approve audit and non-audit services for the Funds and a Service Affiliate's Covered Engagement pursuant to rules and regulations of the Securities and Exchange Commission ("SEC") and other organizations and regulatory bodies applicable to the Funds ("Applicable Rules").<sup>1</sup> They address both general pre-approvals without consideration of specific case-by-case services ("general pre-approvals") and pre-approvals on a case-by-case basis ("specific pre-approvals"). Any services requiring pre-approval that are not within the scope of general pre-approvals hereunder are subject to specific pre-approval. These Procedures also address the delegation by the Audit Committee of pre-approval authority to the Audit Committee Chair or Vice Chair.

II. **Pre-Approval of Fund Audit Services** 

The annual Fund audit services engagement, including terms and fees, is subject to specific pre-approval by the Audit Committee. Audit services include the annual financial statement audit and other procedures required to be performed by an independent auditor to be able to form an opinion on the Funds' financial statements. The Audit Committee will receive, review and consider sufficient information concerning a proposed Fund audit engagement to make a reasonable evaluation of the Auditor's qualifications and independence. The Audit Committee will oversee the Fund audit services engagement as necessary, including approving any changes in terms, audit scope, conditions and fees.

------

In addition to approving the Fund audit services engagement at least annually and specifically approving any changes, the Audit Committee may generally or specifically pre-approve engagements for other audit services, which are those services that only an independent auditor reasonably can provide. Other audit services may include services associated with SEC registration statements, periodic reports and other documents filed with the SEC.

III. **General and Specific Pre-Approval of Non-Audit Fund Services** 

The Audit Committee will consider, at least annually, the list of General Pre-Approved Non-Audit Services which list may be terminated or modified at any time by the Audit Committee. To inform the Audit Committee's review and approval of General Pre-Approved Non-Audit Services, the Funds' Treasurer (or his or her designee) and Auditor shall provide such information regarding independence or other matters as the Audit Committee may request.

Any services or fee ranges that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval. Each request for specific pre-approval by the Audit Committee for services to be provided by the Auditor to the Funds must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, and other relevant information sufficient to allow the Audit Committee to consider whether to pre-approve such engagement, including evaluating whether the provision of such services will impair the independence of the Auditor and is otherwise consistent with Applicable Rules.

IV. **Non-Audit Service Types** 

The Audit Committee may provide either general or specific pre-approval of audit-related, tax or other services, each as described in more detail below.

a. <u>Audit-Related Services</u> 

"Audit-related services" are assurance and related services that are reasonably related to the performance of the audit or review of the Fund's financial statements or that are traditionally performed by an independent auditor. Audit-related services include, among others, accounting consultations related to accounting, financial reporting or disclosure matters not classified as "Audit services"; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; services related to mergers, acquisitions or dispositions; compliance with ratings agency requirements and interfund lending activities; and assistance with internal control reporting requirements.

b. <u>Tax Services</u> 

"Tax services" include, but are not limited to, the review and signing of the Funds' federal tax returns, the review of required distributions by the Funds and consultations regarding tax matters such as the tax treatment of new investments or the impact of new regulations. The Audit Committee will not approve proposed services of the Auditor which the Audit Committee believes are to be provided in connection with a service or transaction initially recommended by the Auditor, the sole business purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee will consult with the Funds' Treasurer (or his or her designee) and may consult with outside counsel or advisers as necessary to ensure the consistency of tax services rendered by the Auditor with the foregoing policy. The Auditor shall not represent any Fund or any Service Affiliate before a tax court, district court or federal court of claims.

------

Each request to provide tax services under either the general or specific pre-approval of the Audit Committee will include a description from the Auditor in writing of (i) the scope of the service, the fee structure for the engagement, and any side letter or other amendment to the engagement letter, or any other agreement (whether oral, written, or otherwise) between the Auditor and the Funds, relating to the service; and (ii) any compensation arrangement or other agreement, such as a referral agreement, a referral fee or fee-sharing arrangement, between the Auditor (or an affiliate of the Auditor) and any person (other than the Funds or Service Affiliates receiving the services) with respect to the promoting, marketing, or recommending of a transaction covered by the service. The Auditor will also discuss with the Audit Committee the potential effects of the services on the independence of the Auditor, and document the substance of its discussion with the Audit Committee.

c. <u>Other Services</u> 

The Audit Committee may pre-approve other non-audit services so long as the Audit Committee believes that the service will not impair the independence of the Auditor. <u>Appendix I</u> includes a list of services that the Auditor is prohibited from performing by the SEC rules. <u>Appendix I</u> also includes a list of services that would impair the Auditor's independence unless the Audit Committee reasonably concludes that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements.

V. **Pre-Approval of Service Affiliate's Covered Engagements** 

Rule 2-01 of Regulation S-X requires that the Audit Committee pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds, defined above as a "Service Affiliate's Covered Engagement".

The Audit Committee may provide either general or specific pre-approval of any Service Affiliate's Covered Engagement, including for audit-related, tax or other services, as described above, if the Audit Committee believes that the provision of the services to a Service Affiliate will not impair the independence of the Auditor with respect to the Funds. Any Service Affiliate's Covered Engagements that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval.

Each request for specific pre-approval by the Audit Committee of a Service Affiliate's Covered Engagement must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, a description of the current status of the pre-approval process involving other audit committees in the Invesco investment company complex (as defined in Rule 2-201 of Regulation S-X) with respect to the proposed engagement, and other relevant information sufficient to allow the Audit Committee to consider whether the provision of such services will impair the independence of the Auditor from the Funds. Additionally, the Funds' Treasurer (or his or her designee) and the Auditor will provide the Audit Committee with a statement that the proposed engagement requires pre-approval by the Audit Committee, the proposed engagement, in their view, will not impair the independence of the Auditor and is consistent with Applicable Rules, and the description of the proposed engagement provided to the Audit Committee is consistent with that presented to or approved by the Invesco audit committee.

------

Information about all Service Affiliate engagements of the Auditor for non-audit services, whether or not subject to pre-approval by the Audit Committee, shall be provided to the Audit Committee at least quarterly, to allow the Audit Committee to consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Funds. The Funds' Treasurer and Auditor shall provide the Audit Committee with sufficiently detailed information about the scope of services provided and the fees for such services, to ensure that the Audit Committee can adequately consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Fund.

VI. **Pre-Approved Fee Levels or Established Amounts** 

Pre-approved fee levels or ranges for audit and non-audit services to be provided by the Auditor to the Funds, and for a Service Affiliate's Covered Engagement, under general pre-approval or specific pre-approval will be set periodically by the Audit Committee. Any proposed fees exceeding 110% of the maximum pre-approved fee levels or ranges for such services or engagements will be promptly presented to the Audit Committee and will require specific pre-approval by the Audit Committee before payment of any additional fees is made.

VII. **Delegation** 

The Audit Committee hereby delegates, subject to the dollar limitations set forth below, specific authority to its Chair, or in his or her absence, Vice Chair, to pre-approve audit and non-audit services proposed to be provided by the Auditor to the Funds and/or a Service Affiliate's Covered Engagement, between Audit Committee meetings. Such delegation does not preclude the Chair or Vice Chair from declining, on a case-by-case basis, to exercise his or her delegated authority and instead convening the Audit Committee to consider and pre-approve any proposed services or engagements.

Notwithstanding the foregoing, the Audit Committee must pre-approve: (a) any non-audit services to be provided to the Funds for which the fees are estimated to exceed $500,000; (b) any Service Affiliate's Covered Engagement for which the fees are estimated to exceed $500,000; or (c) any cost increase to any previously approved service or engagement that exceeds the greater of $250,000 or 50% of the previously approved fees up to a maximum increase of $500,000.

VIII. **Compliance with Procedures** 

Notwithstanding anything herein to the contrary, failure to pre-approve any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X shall not constitute a violation of these Procedures. The Audit Committee has designated the Funds' Treasurer to ensure services and engagements are pre-approved in compliance with these Procedures. The Funds' Treasurer will immediately report to the Chair of the Audit Committee, or the Vice Chair in his or her absence, any breach of these Procedures that comes to the attention of the Funds' Treasurer or any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X.

On at least an annual basis, the Auditor will provide the Audit Committee with a summary of all non-audit services provided to any entity in the investment company complex (as defined in section 2-01(f)(14) of Regulation S-X, including the Funds and Service Affiliates) that were not pre-approved, including the nature of services provided and the associated fees.

IX. **Amendments to Procedures** 

All material amendments to these Procedures must be approved in advance by the Audit Committee. Non-material amendments to these Procedures may be made by the Legal and Compliance Departments and will be reported to the Audit Committee at the next regularly scheduled meeting of the Audit Committee.

------

#### Appendix I

#### Non-Audit Services That May Impair the Auditor's Independence
The Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services:

· Management functions; 

· Human resources; 

· Broker-dealer, investment adviser, or investment banking services; 

· Legal services; 

· Expert services unrelated to the audit; 

· Any service or product provided for a contingent fee or a commission; 

· Services related to marketing, planning, or opining in favor of the tax treatment of confidential transactions or aggressive tax position transactions, a significant purpose of which is tax avoidance; 

· Tax services for persons in financial reporting oversight roles at the Fund; and 

· Any other service that the Public Company Oversight Board determines by regulation is impermissible. 

An Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services unless it is reasonable to conclude that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements:

· Bookkeeping or other services related to the accounting records or financial statements of the audit client; 

· Financial information systems design and implementation; 

· Appraisal or valuation services, fairness opinions, or contribution-in-kind reports; 

· Actuarial services; and 

· Internal audit outsourcing services. 

(e)(2) There were no amounts that were pre-approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) In addition to the amounts shown in the tables above, PwC billed Invesco and Invesco Affiliates aggregate fees of $6,726,000 for the fiscal year ended December 31, 2025 and $6,489,000 for the fiscal year ended December 31, 2024. In total, PwC billed the Registrant, Invesco and Invesco Affiliates aggregate non-audit fees of $8,307,969 for the fiscal year ended December 31, 2025 and $7,808,188 for the fiscal year ended December 31, 2024.

PwC provided audit services to the Investment Company complex of approximately $35 million.

------

(h) The Audit Committee also has considered whether the provision of non-audit services that were rendered to Invesco and Invesco Affiliates that were not required to be pre-approved pursuant to SEC regulations, if any, is compatible with maintaining PwC's independence.

(i) Not applicable.

(j) Not applicable.

---

| | |
|:---|:---|
| 1  | Applicable Rules include, for example, New York Stock Exchange ("NYSE") rules applicable to closed-end funds managed by Invesco and listed on NYSE.  |

---

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

(a) Investments in securities of unaffiliated issuers is filed under Item 7 of this Form N-CSR.

(b) Not applicable.

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![](img4be3e8e71.jpg)

------

**Annual Financial Statements and Other Information**

**December 31, 2025**

**Invesco Global Core Equity Fund**

Nasdaq:

A: AWSAX ■ C: AWSCX ■ R: AWSRX ■ Y: AWSYX ■ R5: AWSIX ■ R6: AWSSX

------

---

| | |
|:---|:---|
| [2](#xx_99e669cf-a712-4e93-855c-8674cee52808_SOI-Continued-52_1) | Schedule of Investments |
| [4](#xx_99e669cf-a712-4e93-855c-8674cee52808_FS-Continued-52_1) | Financial Statements |
| [7](#xx_99e669cf-a712-4e93-855c-8674cee52808_FS-Continued-52_4) | Financial Highlights |
| [8](#xx_99e669cf-a712-4e93-855c-8674cee52808_NTF-Continued-52_1) | Notes to Financial Statements |
| [15](#xx_99e669cf-a712-4e93-855c-8674cee52808_ARS-Continued-52_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_99e669cf-a712-4e93-855c-8674cee52808_TI-Continued-52_1) | Tax Information |
| [17](#xx_99e669cf-a712-4e93-855c-8674cee52808_OIRSR-Continued-52_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*December 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–96.26%** | **Common Stocks & Other Equity Interests–96.26%** | **Common Stocks & Other Equity Interests–96.26%** |
| **Canada–3.86%** | **Canada–3.86%** | **Canada–3.86%** |
| Canadian Pacific Kansas City Ltd. | 233038 | &nbsp;&nbsp; $17156745 |
| Constellation Software, Inc. | 1232 | &nbsp;&nbsp; 2963334 |
| Dollarama, Inc. | 25950 | &nbsp;&nbsp; 3878462 |
|  |  | &nbsp;&nbsp; 23998541 |
| **China–3.67%** | **China–3.67%** | **China–3.67%** |
| Contemporary Amperex Technology <br> Co. Ltd., A Shares | 192480 | &nbsp;&nbsp; 10121087 |
| Tencent Holdings Ltd. | 166000 | &nbsp;&nbsp; 12739426 |
|  |  | &nbsp;&nbsp; 22860513 |
| **Denmark–0.22%** | **Denmark–0.22%** | **Denmark–0.22%** |
| Novo Nordisk A/S, Class B | 27379 | &nbsp;&nbsp; 1388621 |
| **France–4.40%** | **France–4.40%** | **France–4.40%** |
| L'Oreal S.A. | 18515 | &nbsp;&nbsp; 7948780 |
| LVMH Moet Hennessy Louis Vuitton SE | 6384 | &nbsp;&nbsp; 4811848 |
| Safran S.A. | 33062 | &nbsp;&nbsp; 11516052 |
| TotalEnergies SE | 47169 | &nbsp;&nbsp; 3075324 |
|  |  | &nbsp;&nbsp; 27352004 |
| **Germany–1.01%** | **Germany–1.01%** | **Germany–1.01%** |
| SAP SE | 25816 | &nbsp;&nbsp; 6272476 |
| **India–0.81%** | **India–0.81%** | **India–0.81%** |
| HDFC Bank Ltd. | 455779 | &nbsp;&nbsp; 5034941 |
| **Italy–0.86%** | **Italy–0.86%** | **Italy–0.86%** |
| Recordati Industria Chimica e <br> Farmaceutica S.p.A.<sup>(a)</sup>  | 94667 | &nbsp;&nbsp; 5374132 |
| **Japan–2.59%** | **Japan–2.59%** | **Japan–2.59%** |
| Hoya Corp. | 39900 | &nbsp;&nbsp; 6051616 |
| ITOCHU Corp. | 795500 | &nbsp;&nbsp; 10052583 |
|  |  | &nbsp;&nbsp; 16104199 |
| **Netherlands–1.75%** | **Netherlands–1.75%** | **Netherlands–1.75%** |
| ASML Holding N.V. | 10112 | &nbsp;&nbsp; 10895884 |
| **Spain–1.00%** | **Spain–1.00%** | **Spain–1.00%** |
| Industria de Diseno Textil S.A. | 94162 | &nbsp;&nbsp; 6211364 |
| **Sweden–1.21%** | **Sweden–1.21%** | **Sweden–1.21%** |
| Atlas Copco AB, Class A | 423125 | &nbsp;&nbsp; 7532710 |
| **Taiwan–2.51%** | **Taiwan–2.51%** | **Taiwan–2.51%** |
| Taiwan Semiconductor Manufacturing <br> Co. Ltd. | 318000 | &nbsp;&nbsp; 15632007 |
| **United Kingdom–4.06%** | **United Kingdom–4.06%** | **United Kingdom–4.06%** |
| 3i Group PLC | 261422 | &nbsp;&nbsp; 11463045 |
| Coca-Cola Europacific Partners PLC | 54975 | &nbsp;&nbsp; 4986232 |
| RELX PLC | 216949 | &nbsp;&nbsp; 8836451 |
|  |  | &nbsp;&nbsp; 25285728 |
| **United States–68.31%** | **United States–68.31%** | **United States–68.31%** |
| Abbott Laboratories | 62284 | &nbsp;&nbsp; 7803562 |
| Alphabet, Inc., Class A | 74233 | &nbsp;&nbsp; 23234929 |
| Amazon.com, Inc.<sup>(b)</sup>  | 89252 | &nbsp;&nbsp; 20601147 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **United States–(continued)** | **United States–(continued)** | **United States–(continued)** |
| American Express Co. | 22200 | &nbsp;&nbsp; $8212890 |
| AMETEK, Inc. | 54224 | &nbsp;&nbsp; 11132729 |
| Amphenol Corp., Class A | 65116 | &nbsp;&nbsp; 8799776 |
| Analog Devices, Inc. | 34398 | &nbsp;&nbsp; 9328738 |
| Apple, Inc. | 94030 | &nbsp;&nbsp; 25562996 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup>  | 16936 | &nbsp;&nbsp; 8512880 |
| Broadcom, Inc. | 34256 | &nbsp;&nbsp; 11856002 |
| Cigna Group (The) | 19573 | &nbsp;&nbsp; 5387077 |
| CME Group, Inc., Class A | 40562 | &nbsp;&nbsp; 11076671 |
| Coca-Cola Co. (The) | 82621 | &nbsp;&nbsp; 5776034 |
| Construction Partners, Inc., Class A<sup>(a)(b)</sup>  | 30728 | &nbsp;&nbsp; 3335524 |
| Copart, Inc.<sup>(b)</sup>  | 61754 | &nbsp;&nbsp; 2417669 |
| Costco Wholesale Corp. | 2698 | &nbsp;&nbsp; 2326593 |
| Danaher Corp. | 8922 | &nbsp;&nbsp; 2042424 |
| East West Bancorp, Inc. | 46798 | &nbsp;&nbsp; 5259627 |
| Elevance Health, Inc. | 11403 | &nbsp;&nbsp; 3997322 |
| EOG Resources, Inc. | 92243 | &nbsp;&nbsp; 9686437 |
| Experian PLC | 112218 | &nbsp;&nbsp; 5059523 |
| Ferguson Enterprises, Inc. | 15538 | &nbsp;&nbsp; 3459225 |
| Home Depot, Inc. (The) | 15501 | &nbsp;&nbsp; 5333894 |
| Interactive Brokers Group, Inc., Class A | 120851 | &nbsp;&nbsp; 7771928 |
| JPMorgan Chase & Co. | 35373 | &nbsp;&nbsp; 11397888 |
| Linde PLC | 21467 | &nbsp;&nbsp; 9153314 |
| Martin Marietta Materials, Inc. | 18657 | &nbsp;&nbsp; 11616968 |
| Mastercard, Inc., Class A | 31307 | &nbsp;&nbsp; 17872540 |
| Meta Platforms, Inc., Class A | 21088 | &nbsp;&nbsp; 13919978 |
| Microsoft Corp. | 78732 | &nbsp;&nbsp; 38076370 |
| Moody's Corp. | 7271 | &nbsp;&nbsp; 3714390 |
| MSCI, Inc. | 6747 | &nbsp;&nbsp; 3870956 |
| NIKE, Inc., Class B | 29515 | &nbsp;&nbsp; 1880401 |
| NVIDIA Corp. | 160477 | &nbsp;&nbsp; 29928961 |
| Old Dominion Freight Line, Inc.<sup>(a)</sup>  | 45333 | &nbsp;&nbsp; 7108214 |
| O'Reilly Automotive, Inc.<sup>(b)</sup>  | 50489 | &nbsp;&nbsp; 4605102 |
| QXO, Inc.<sup>(a)(b)</sup>  | 361679 | &nbsp;&nbsp; 6976788 |
| Steel Dynamics, Inc. | 35125 | &nbsp;&nbsp; 5951931 |
| Texas Instruments, Inc. | 59953 | &nbsp;&nbsp; 10401246 |
| Thermo Fisher Scientific, Inc. | 17219 | &nbsp;&nbsp; 9977550 |
| Union Pacific Corp. | 39630 | &nbsp;&nbsp; 9167212 |
| Viking Holdings Ltd.<sup>(b)</sup>  | 147366 | &nbsp;&nbsp; 10523406 |
| WEC Energy Group, Inc. | 104488 | &nbsp;&nbsp; 11019305 |
|  |  | &nbsp;&nbsp; 425138117 |
| Total Common Stocks & Other Equity Interests <br> (Cost $442,573,223) | Total Common Stocks & Other Equity Interests <br> (Cost $442,573,223) | &nbsp;&nbsp; 599081237 |
| **Exchange-Traded Funds–1.74%** | **Exchange-Traded Funds–1.74%** | **Exchange-Traded Funds–1.74%** |
| **Japan–1.74%** | **Japan–1.74%** | **Japan–1.74%** |
| iShares MSCI Japan ETF<sup>(a)</sup> <br> (Cost $9,371,375) | 134135 | &nbsp;&nbsp; 10830060 |
| **Money Market Funds–2.27%** | **Money Market Funds–2.27%** | **Money Market Funds–2.27%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.68%<sup>(c)(d)</sup>  | 8472103 | &nbsp;&nbsp; 8472103 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Global Core Equity Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(c)(d)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(c)(d)</sup>  | 5648069 | &nbsp;&nbsp; $5648069 |
| Total Money Market Funds (Cost $14,120,172) | Total Money Market Funds (Cost $14,120,172) | Total Money Market Funds (Cost $14,120,172) | &nbsp;&nbsp; 14120172 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding Investments purchased <br> with cash collateral from securities <br> on loan)-100.27% <br> (Cost $466,064,770)<br>|  |  | &nbsp;&nbsp; 624031469 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–2.38%** | **Money Market Funds–2.38%** | **Money Market Funds–2.38%** | **Money Market Funds–2.38%** |
| Invesco Private Government Fund, <br> 3.74%<sup>(c)(d)(e)</sup>  | Invesco Private Government Fund, <br> 3.74%<sup>(c)(d)(e)</sup>  | 4124392 | &nbsp;&nbsp; 4124392 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** |
| Invesco Private Prime Fund, 3.88%<sup>(c)(d)(e)</sup>  | 10706387 | &nbsp;&nbsp; $10709599 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $14,833,991) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $14,833,991) | &nbsp;&nbsp; 14833991 |
| TOTAL INVESTMENTS IN SECURITIES—102.65% <br> (Cost $480,898,761) | TOTAL INVESTMENTS IN SECURITIES—102.65% <br> (Cost $480,898,761) | &nbsp;&nbsp; 638865460 |
| OTHER ASSETS LESS LIABILITIES–(2.65)% | OTHER ASSETS LESS LIABILITIES–(2.65)% | &nbsp;&nbsp; (16491495)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $622373965 |

---

Investment Abbreviations:

ETF – Exchange-Traded Fund

Notes to Schedule of Investments:

<sup>(a)</sup> All or a portion of this security was out on loan at December 31, 2025.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended December 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**December 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $13034351 | &nbsp;&nbsp; $114572578 | &nbsp;&nbsp; $(119134826) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $8472103 | &nbsp;&nbsp; $558211 |
| Invesco Treasury Portfolio, Institutional Class | 8689568 | &nbsp;&nbsp; 76381719 | &nbsp;&nbsp; (79423218) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 5648069 | &nbsp;&nbsp; 368817 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 3361531 | &nbsp;&nbsp; 186654765 | &nbsp;&nbsp; (185891904) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 4124392 | &nbsp;&nbsp; 220,897\* |
| Invesco Private Prime Fund | 8757280 | &nbsp;&nbsp; 388358481 | &nbsp;&nbsp; (386406387) | &nbsp;&nbsp; - | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 10709599 | &nbsp;&nbsp; 613,012\* |
| Total | $33842730 | &nbsp;&nbsp; $765967543 | &nbsp;&nbsp; $(770856335) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $225 | &nbsp;&nbsp; $28954163 | &nbsp;&nbsp; $1760937 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(d)</sup> The rate shown is the 7-day SEC standardized yield as of December 31, 2025.

<sup>(e)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 1K. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Global Core Equity Fund**

------

**Statement of Assets and Liabilities**

*December 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $451,944,598)\*<br>| &nbsp;&nbsp; $609911297 |
| Investments in affiliated money market funds, at value <br> (Cost $28,954,163)<br>| &nbsp;&nbsp; 28954163 |
| Cash | &nbsp;&nbsp; 659 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 26215 |
| Dividends | &nbsp;&nbsp; 820151 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 177051 |
| Other assets | &nbsp;&nbsp; 51309 |
| Total assets | &nbsp;&nbsp; 639940845 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 2157777 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 14833991 |
| Accrued fees to affiliates | &nbsp;&nbsp; 308888 |
| Accrued other operating expenses | &nbsp;&nbsp; 49676 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 216548 |
| Total liabilities | &nbsp;&nbsp; 17566880 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $622373965 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $468481399 |
| Distributable earnings | &nbsp;&nbsp; 153892566 |
|  | &nbsp;&nbsp; $622373965 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $580496546 |
| Class C | &nbsp;&nbsp; $3373560 |
| Class R | &nbsp;&nbsp; $3383447 |
| Class Y | &nbsp;&nbsp; $25690755 |
| Class R5 | &nbsp;&nbsp; $1636011 |
| Class R6 | &nbsp;&nbsp; $7793646 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 35517162 |
| Class C | &nbsp;&nbsp; 228474 |
| Class R | &nbsp;&nbsp; 208199 |
| Class Y | &nbsp;&nbsp; 1569096 |
| Class R5 | &nbsp;&nbsp; 97593 |
| Class R6 | &nbsp;&nbsp; 464397 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $16.34 |
| Maximum offering price per share <br>(Net asset value of $16.34 ÷ 94.50%)<br>| &nbsp;&nbsp; $17.29 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $14.77 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $16.25 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $16.37 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $16.76 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $16.78 |

---

\* At December 31, 2025, securities with an aggregate value of $12,014,633 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Global Core Equity Fund**

------

**Statement of Operations**

*For the year ended December 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $231773 |
| Dividends (net of foreign withholding taxes of $215,593) | &nbsp;&nbsp; 7126394 |
| Dividends from affiliated money market funds (includes net securities lending income of $63,424) | &nbsp;&nbsp; 990452 |
| Foreign withholding tax claims | &nbsp;&nbsp; 575462 |
| Total investment income | &nbsp;&nbsp; 8924081 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 4797367 |
| Administrative services fees | &nbsp;&nbsp; 86371 |
| Custodian fees | &nbsp;&nbsp; 14468 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1427025 |
| Class C | &nbsp;&nbsp; 33993 |
| Class R | &nbsp;&nbsp; 13331 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 835649 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 1475 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 2046 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 27975 |
| Registration and filing fees | &nbsp;&nbsp; 99002 |
| Reports to shareholders | &nbsp;&nbsp; 77554 |
| Professional services fees | &nbsp;&nbsp; 68624 |
| Other | &nbsp;&nbsp; 17698 |
| Total expenses | &nbsp;&nbsp; 7502578 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (37959)<br>|
| Net expenses | &nbsp;&nbsp; 7464619 |
| Net investment income | &nbsp;&nbsp; 1459462 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 45051987 |
| Affiliated investment securities | &nbsp;&nbsp; 225 |
| Foreign currencies | &nbsp;&nbsp; 194959 |
|  | &nbsp;&nbsp; 45247171 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 40301672 |
| Foreign currencies | &nbsp;&nbsp; 53036 |
|  | &nbsp;&nbsp; 40354708 |
| Net realized and unrealized gain | &nbsp;&nbsp; 85601879 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $87061341 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Global Core Equity Fund**

------

**Statement of Changes in Net Assets**

*For the years ended December 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $1459462 | &nbsp;&nbsp; $1664424 |
| Net realized gain | &nbsp;&nbsp; 45247171 | &nbsp;&nbsp; 45331671 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 40354708 | &nbsp;&nbsp; 44496118 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 87061341 | &nbsp;&nbsp; 91492213 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (49643964)<br>| &nbsp;&nbsp; (42041193)<br>|
| Class C | &nbsp;&nbsp; (316125)<br>| &nbsp;&nbsp; (255271)<br>|
| Class R | &nbsp;&nbsp; (286119)<br>| &nbsp;&nbsp; (152978)<br>|
| Class Y | &nbsp;&nbsp; (2363254)<br>| &nbsp;&nbsp; (1998339)<br>|
| Class R5 | &nbsp;&nbsp; (135015)<br>| &nbsp;&nbsp; (104368)<br>|
| Class R6 | &nbsp;&nbsp; (635257)<br>| &nbsp;&nbsp; (536818)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (53379734)<br>| &nbsp;&nbsp; (45088967)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (9475916)<br>| &nbsp;&nbsp; (23929589)<br>|
| Class C | &nbsp;&nbsp; (507608)<br>| &nbsp;&nbsp; 176796 |
| Class R | &nbsp;&nbsp; 1115903 | &nbsp;&nbsp; 557706 |
| Class Y | &nbsp;&nbsp; (463618)<br>| &nbsp;&nbsp; 1036243 |
| Class R5 | &nbsp;&nbsp; 213739 | &nbsp;&nbsp; 59739 |
| Class R6 | &nbsp;&nbsp; 572358 | &nbsp;&nbsp; 120797 |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (8545142)<br>| &nbsp;&nbsp; (21978308)<br>|
| Net increase in net assets | &nbsp;&nbsp; 25136465 | &nbsp;&nbsp; 24424938 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 597237500 | &nbsp;&nbsp; 572812562 |
| End of year | &nbsp;&nbsp; $622373965 | &nbsp;&nbsp; $597237500 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Global Core Equity Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 12/31/25 | $15.50 | $0.04 | $2.32 | $2.36 | $(0.13)<br>| $(1.39)<br>| $(1.52)<br>| $16.34 | 15.25<br> %<br>| &nbsp;&nbsp; $580497 | 1.24<br> %<br>| 1.24<br> %<br>| 0.22<br> %<br>| 80<br> %<br>|
| Year ended 12/31/24 | 14.34 | 0.04 | 2.36 | 2.40 | (0.26)<br>| (0.98)<br>| (1.24)<br>| 15.50 | 16.47 | &nbsp;&nbsp; 558382 | 1.25 | 1.27 | 0.26 | 46 |
| Year ended 12/31/23 | 12.07 | 0.07 | 2.55 | 2.62 | (0.04)<br>| (0.31)<br>| (0.35)<br>| 14.34 | 21.79 | &nbsp;&nbsp; 538642 | 1.21 | 1.26 | 0.56 | 107 |
| Year ended 12/31/22 | 16.02 | 0.04 | (3.59)<br>| (3.55)<br>| (0.01)<br>| (0.39)<br>| (0.40)<br>| 12.07 | (22.20)<br>| &nbsp;&nbsp; 495054 | 1.22 | 1.26 | 0.29 | 11 |
| Year ended 12/31/21 | 14.61 | 0.01 | 2.26 | 2.27 | (0.13)<br>| (0.73)<br>| (0.86)<br>| 16.02 | 15.68 | &nbsp;&nbsp; 718327 | 1.22 | 1.22 | 0.06 | 23 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 12/31/25 | 14.24 | (0.08)<br>| 2.13 | 2.05 | (0.13)<br>| (1.39)<br>| (1.52)<br>| 14.77 | 14.43 | &nbsp;&nbsp; 3374 | 1.99 | 1.99 | (0.53)<br>| 80 |
| Year ended 12/31/24 | 13.18 | (0.07)<br>| 2.15 | 2.08 | (0.04)<br>| (0.98)<br>| (1.02)<br>| 14.24 | 15.59 | &nbsp;&nbsp; 3732 | 2.00 | 2.02 | (0.49)<br>| 46 |
| Year ended 12/31/23 | 11.16 | (0.02)<br>| 2.35 | 2.33 |  | (0.31)<br>| (0.31)<br>| 13.18 | 20.95 | &nbsp;&nbsp; 3318 | 1.96 | 2.01 | (0.19)<br>| 107 |
| Year ended 12/31/22 | 14.96 | (0.06)<br>| (3.35)<br>| (3.41)<br>|  | (0.39)<br>| (0.39)<br>| 11.16 | (22.81)<br>| &nbsp;&nbsp; 3462 | 1.97 | 2.01 | (0.46)<br>| 11 |
| Year ended 12/31/21 | 13.67 | (0.10)<br>| 2.12 | 2.02 |  | (0.73)<br>| (0.73)<br>| 14.96 | 14.90 | &nbsp;&nbsp; 5778 | 1.97 | 1.97 | (0.69)<br>| 23 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 12/31/25 | 15.46 | (0.00)<br>| 2.31 | 2.31 | (0.13)<br>| (1.39)<br>| (1.52)<br>| 16.25 | 14.97 | &nbsp;&nbsp; 3383 | 1.49 | 1.49 | (0.03)<br>| 80 |
| Year ended 12/31/24 | 14.29 | 0.00 | 2.34 | 2.34 | (0.19)<br>| (0.98)<br>| (1.17)<br>| 15.46 | 16.14 | &nbsp;&nbsp; 2183 | 1.50 | 1.52 | 0.01 | 46 |
| Year ended 12/31/23 | 12.02 | 0.04 | 2.55 | 2.59 | (0.01)<br>| (0.31)<br>| (0.32)<br>| 14.29 | 21.59 | &nbsp;&nbsp; 1510 | 1.46 | 1.51 | 0.31 | 107 |
| Year ended 12/31/22 | 16.00 | 0.01 | (3.60)<br>| (3.59)<br>|  | (0.39)<br>| (0.39)<br>| 12.02 | (22.45)<br>| &nbsp;&nbsp; 1403 | 1.47 | 1.51 | 0.04 | 11 |
| Year ended 12/31/21 | 14.58 | (0.03)<br>| 2.27 | 2.24 | (0.09)<br>| (0.73)<br>| (0.82)<br>| 16.00 | 15.49 | &nbsp;&nbsp; 1732 | 1.47 | 1.47 | (0.19)<br>| 23 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 12/31/25 | 15.48 | 0.08 | 2.33 | 2.41 | (0.13)<br>| (1.39)<br>| (1.52)<br>| 16.37 | 15.60 | &nbsp;&nbsp; 25691 | 0.99 | 0.99 | 0.47 | 80 |
| Year ended 12/31/24 | 14.36 | 0.08 | 2.36 | 2.44 | (0.34)<br>| (0.98)<br>| (1.32)<br>| 15.48 | 16.71 | &nbsp;&nbsp; 24761 | 1.00 | 1.02 | 0.51 | 46 |
| Year ended 12/31/23 | 12.09 | 0.11 | 2.55 | 2.66 | (0.08)<br>| (0.31)<br>| (0.39)<br>| 14.36 | 22.08 | &nbsp;&nbsp; 21948 | 0.96 | 1.01 | 0.81 | 107 |
| Year ended 12/31/22 | 16.06 | 0.07 | (3.60)<br>| (3.53)<br>| (0.05)<br>| (0.39)<br>| (0.44)<br>| 12.09 | (21.99)<br>| &nbsp;&nbsp; 21797 | 0.97 | 1.01 | 0.54 | 11 |
| Year ended 12/31/21 | 14.64 | 0.05 | 2.27 | 2.32 | (0.17)<br>| (0.73)<br>| (0.90)<br>| 16.06 | 15.97 | &nbsp;&nbsp; 34582 | 0.97 | 0.97 | 0.31 | 23 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 12/31/25 | 15.82 | 0.09 | 2.37 | 2.46 | (0.13)<br>| (1.39)<br>| (1.52)<br>| 16.76 | 15.57 | &nbsp;&nbsp; 1636 | 0.95 | 0.95 | 0.51 | 80 |
| Year ended 12/31/24 | 14.65 | 0.09 | 2.40 | 2.49 | (0.34)<br>| (0.98)<br>| (1.32)<br>| 15.82 | 16.77 | &nbsp;&nbsp; 1346 | 0.97 | 0.97 | 0.54 | 46 |
| Year ended 12/31/23 | 12.32 | 0.11 | 2.62 | 2.73 | (0.09)<br>| (0.31)<br>| (0.40)<br>| 14.65 | 22.19 | &nbsp;&nbsp; 1190 | 0.95 | 0.96 | 0.82 | 107 |
| Year ended 12/31/22 | 16.37 | 0.08 | (3.68)<br>| (3.60)<br>| (0.06)<br>| (0.39)<br>| (0.45)<br>| 12.32 | (22.02)<br>| &nbsp;&nbsp; 857 | 0.95 | 0.95 | 0.56 | 11 |
| Year ended 12/31/21 | 14.90 | 0.06 | 2.31 | 2.37 | (0.17)<br>| (0.73)<br>| (0.90)<br>| 16.37 | 16.05 | &nbsp;&nbsp; 1125 | 0.93 | 0.93 | 0.35 | 23 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 12/31/25 | 15.82 | 0.10 | 2.38 | 2.48 | (0.13)<br>| (1.39)<br>| (1.52)<br>| 16.78 | 15.70 | &nbsp;&nbsp; 7794 | 0.88 | 0.88 | 0.58 | 80 |
| Year ended 12/31/24 | 14.66 | 0.10 | 2.41 | 2.51 | (0.37)<br>| (0.98)<br>| (1.35)<br>| 15.82 | 16.83 | &nbsp;&nbsp; 6834 | 0.90 | 0.90 | 0.61 | 46 |
| Year ended 12/31/23 | 12.33 | 0.12 | 2.62 | 2.74 | (0.10)<br>| (0.31)<br>| (0.41)<br>| 14.66 | 22.27 | &nbsp;&nbsp; 6204 | 0.88 | 0.89 | 0.89 | 107 |
| Year ended 12/31/22 | 16.39 | 0.09 | (3.69)<br>| (3.60)<br>| (0.07)<br>| (0.39)<br>| (0.46)<br>| 12.33 | (21.99)<br>| &nbsp;&nbsp; 5048 | 0.88 | 0.88 | 0.63 | 11 |
| Year ended 12/31/21 | 14.91 | 0.07 | 2.32 | 2.39 | (0.18)<br>| (0.73)<br>| (0.91)<br>| 16.39 | 16.17 | &nbsp;&nbsp; 6971 | 0.87 | 0.87 | 0.41 | 23 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Global Core Equity Fund**

------

**Notes to Financial Statements**

*December 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Global Core Equity Fund (the "Fund") is a series portfolio of AIM Funds Group (Invesco Funds Group) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**8**

**Invesco Global Core Equity Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Foreign Withholding Taxes –** The Fund is subject to foreign withholding tax imposed by certain foreign countries in which the Fund may invest. Withholding taxes are incurred on certain foreign dividends and are accrued at the time the dividend is recognized based on applicable foreign tax laws. The Fund may file withholding tax refunds in certain jurisdictions to seek to recover a portion of amounts previously withheld. The Fund will record a receivable for such tax refunds based on several factors including; an assessment of a jurisdiction's legal obligation to pay reclaims, administrative practices and payment history. Any receivables recorded will be shown under receivables for *Foreign withholding tax claims* on the Statement of Assets and Liabilities. There is no guarantee that the Fund will receive refunds applied for in a timely manner or at all.

As a result of recent court rulings in certain countries across the European Union, tax refunds for previously withheld taxes on dividends earned in those countries have been received by investment companies. Any tax refund payments are reflected as *Foreign withholding tax claims* in the Statement of Operations, and any related interest is included in *Interest income*. The Fund may incur fees paid to third party providers that assist in the recovery of the tax reclaims. These fees are reflected on the Statement of Operations as *Professional services fees,* if any. In the event tax refunds received by the Fund during the fiscal year exceed the foreign withholding taxes paid by the Fund for the year, and the Fund previously passed foreign tax credits on to its shareholders, the Fund intends to enter into a closing agreement with the Internal Revenue Service in order to pay the associated liability on behalf of the Funds' shareholders. For the year ended December 31, 2025, the Fund did not enter into any closing agreements.

**G.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**H.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**I.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**J.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"),

**9**

**Invesco Global Core Equity Fund**

------

assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**K.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended December 31, 2025, the Fund paid the Adviser $2,236 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**L.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**M.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**N.** **Other Risks** - Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if

**10**

**Invesco Global Core Equity Fund**

------

used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.800% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.780% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.760% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.740% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.720% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.700% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.680% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.660% |

---

For the year ended December 31, 2025, the effective advisory fee rate incurred by the Fund was 0.78%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.25%, 3.00%, 2.50%, 2.00%, 2.00% and 2.00%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended December 31, 2025, the Adviser waived advisory fees of $23,855.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended December 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended December 31, 2025, IDI advised the Fund that IDI retained $14,828 in front-end sales commissions from the sale of Class A shares and $1,935 and $291 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended December 31, 2025, the Fund incurred $345 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

**11**

**Invesco Global Core Equity Fund**

------

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of December 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp; $23998541 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $23998541 |
| China | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22860513 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22860513 |
| Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1388621 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1388621 |
| France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27352004 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27352004 |
| Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6272476 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6272476 |
| India | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5034941 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5034941 |
| Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5374132 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5374132 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp; 10830060 | &nbsp;&nbsp;&nbsp;&nbsp; 16104199 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26934259 |
| Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10895884 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10895884 |
| Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6211364 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6211364 |
| Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7532710 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7532710 |
| Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15632007 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15632007 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; 4986232 | &nbsp;&nbsp;&nbsp;&nbsp; 20299496 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25285728 |
| United States | &nbsp;&nbsp;&nbsp;&nbsp; 420078594 | &nbsp;&nbsp;&nbsp;&nbsp; 5059523 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 425138117 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 14120172 | &nbsp;&nbsp;&nbsp;&nbsp; 14833991 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28954163 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $474013599 | &nbsp;&nbsp;&nbsp;&nbsp; $164851861 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $638865460 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended December 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $14,104.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**12**

**Invesco Global Core Equity Fund**

------

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $11886134 | &nbsp;&nbsp;&nbsp;&nbsp; $38771470 |
| Long-term capital gain | &nbsp;&nbsp; 41493600 | &nbsp;&nbsp;&nbsp;&nbsp; 6317497 |
| Total distributions | &nbsp;&nbsp; $53379734 | &nbsp;&nbsp;&nbsp;&nbsp; $45088967 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $4055325 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 698938 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 149235418 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 32012 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (129127)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 468481399 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $622373965 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales and passive foreign investment companies.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of December 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended December 31, 2025 was $474,082,711 and $524,054,417, respectively. As of December 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $156145675 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (6910257)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $149235418 |

---

Cost of investments for tax purposes is $489,630,042.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies and equalization, on December 31, 2025, undistributed net investment income was increased by $4,639,708, undistributed net realized gain (loss) was decreased by $6,071,707 and shares of beneficial interest was increased by $1,431,999. This reclassification had no effect on the net assets of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 485365 | &nbsp;&nbsp;&nbsp; $7969929 | &nbsp;&nbsp;&nbsp; 418883 | &nbsp;&nbsp;&nbsp; $6650701 |
| Class C | &nbsp;&nbsp;&nbsp; 28936 | &nbsp;&nbsp;&nbsp; 435880 | &nbsp;&nbsp;&nbsp; 70210 | &nbsp;&nbsp;&nbsp; 1028752 |
| Class R | &nbsp;&nbsp;&nbsp; 73090 | &nbsp;&nbsp;&nbsp; 1229189 | &nbsp;&nbsp;&nbsp; 45693 | &nbsp;&nbsp;&nbsp; 716935 |
| Class Y | &nbsp;&nbsp;&nbsp; 294406 | &nbsp;&nbsp;&nbsp; 4954340 | &nbsp;&nbsp;&nbsp; 370702 | &nbsp;&nbsp;&nbsp; 5858566 |
| Class R5 | &nbsp;&nbsp;&nbsp; 9419 | &nbsp;&nbsp;&nbsp; 162036 | &nbsp;&nbsp;&nbsp; 8357 | &nbsp;&nbsp;&nbsp; 138685 |
| Class R6 | &nbsp;&nbsp;&nbsp; 78898 | &nbsp;&nbsp;&nbsp; 1357015 | &nbsp;&nbsp;&nbsp; 75918 | &nbsp;&nbsp;&nbsp; 1232176 |

---

**13**

**Invesco Global Core Equity Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended**<br> **December 31, 2025**<sup>(a)</sup> | **Year ended**<br> **December 31, 2025**<sup>(a)</sup> | **Year ended**<br> **December 31, 2024** | **Year ended**<br> **December 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 2767354 | &nbsp;&nbsp;&nbsp; $44803461 | &nbsp;&nbsp;&nbsp; 2366574 | &nbsp;&nbsp;&nbsp; $37888842 |
| Class C | &nbsp;&nbsp;&nbsp; 19967 | &nbsp;&nbsp;&nbsp; 292119 | &nbsp;&nbsp;&nbsp; 14739 | &nbsp;&nbsp;&nbsp; 216815 |
| Class R | &nbsp;&nbsp;&nbsp; 17771 | &nbsp;&nbsp;&nbsp; 286119 | &nbsp;&nbsp;&nbsp; 9585 | &nbsp;&nbsp;&nbsp; 152978 |
| Class Y | &nbsp;&nbsp;&nbsp; 116835 | &nbsp;&nbsp;&nbsp; 1895066 | &nbsp;&nbsp;&nbsp; 97687 | &nbsp;&nbsp;&nbsp; 1562016 |
| Class R5 | &nbsp;&nbsp;&nbsp; 8066 | &nbsp;&nbsp;&nbsp; 133967 | &nbsp;&nbsp;&nbsp; 6335 | &nbsp;&nbsp;&nbsp; 103445 |
| Class R6 | &nbsp;&nbsp;&nbsp; 35338 | &nbsp;&nbsp;&nbsp; 587667 | &nbsp;&nbsp;&nbsp; 30446 | &nbsp;&nbsp;&nbsp; 497492 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 38011 | &nbsp;&nbsp;&nbsp; 621421 | &nbsp;&nbsp;&nbsp; 41570 | &nbsp;&nbsp;&nbsp; 649170 |
| Class C | &nbsp;&nbsp;&nbsp; (41517)<br>| &nbsp;&nbsp;&nbsp; (621421)<br>| &nbsp;&nbsp;&nbsp; (45371)<br>| &nbsp;&nbsp;&nbsp; (649170)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (3803241)<br>| &nbsp;&nbsp;&nbsp; (62870727)<br>| &nbsp;&nbsp;&nbsp; (4349057)<br>| &nbsp;&nbsp;&nbsp; (69118302)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (41088)<br>| &nbsp;&nbsp;&nbsp; (614186)<br>| &nbsp;&nbsp;&nbsp; (29163)<br>| &nbsp;&nbsp;&nbsp; (419601)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (23879)<br>| &nbsp;&nbsp;&nbsp; (399405)<br>| &nbsp;&nbsp;&nbsp; (19790)<br>| &nbsp;&nbsp;&nbsp; (312207)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (441270)<br>| &nbsp;&nbsp;&nbsp; (7313024)<br>| &nbsp;&nbsp;&nbsp; (397363)<br>| &nbsp;&nbsp;&nbsp; (6384339)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (4988)<br>| &nbsp;&nbsp;&nbsp; (82264)<br>| &nbsp;&nbsp;&nbsp; (10860)<br>| &nbsp;&nbsp;&nbsp; (182391)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (81788)<br>| &nbsp;&nbsp;&nbsp; (1372324)<br>| &nbsp;&nbsp;&nbsp; (97538)<br>| &nbsp;&nbsp;&nbsp; (1608871)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (464315)<br>| &nbsp;&nbsp;&nbsp; $(8545142)<br>| &nbsp;&nbsp;&nbsp; (1392443)<br>| &nbsp;&nbsp;&nbsp; $(21978308)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 54% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Global Core Equity Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Funds Group (Invesco Funds Group) and Shareholders of Invesco Global Core Equity Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Global Core Equity Fund (one of the funds constituting AIM Funds Group (Invesco Funds Group), referred to hereafter as the "Fund") as of December 31, 2025, the related statement of operations for the year ended December 31, 2025, the statement of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2025 and the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

February 19, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Global Core Equity Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended December 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $42925600 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 40.11% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 24.21% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $7461085 |

---

**16**

**Invesco Global Core Equity Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**17**

**Invesco Global Core Equity Fund**

------

![](img4be3e8e71.jpg)

SEC file number(s): 811-01540 and 002-27334

Invesco Distributors, Inc.

GCE-NCSR

------

![](imgf4e4e0971.jpg)

------

**Annual Financial Statements and Other Information**

**December 31, 2025**

**Invesco Global Small Cap Equity Fund**

Effective August 22, 2025, Invesco EQV European Small Company Fund was renamed Invesco Global Small Cap Equity Fund.

Nasdaq:

A: ESMAX ■ C: ESMCX ■ Y: ESMYX ■ R6: ESMSX

------

---

| | |
|:---|:---|
| [2](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_SOI-Continued-50_1) | Schedule of Investments |
| [5](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_FS-Continued-50_1) | Financial Statements |
| [8](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_FS-Continued-50_4) | Financial Highlights |
| [9](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_NTF-Continued-50_1) | Notes to Financial Statements |
| [16](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_ARS-Continued-50_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_DIST-Continued-50_1) | Distribution Information |
| [18](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_TI-Continued-50_1) | Tax Information |
| [19](#xx_576ca3ce-3ca8-4288-9c6b-f317bda88b70_OIRSR-Continued-50_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*December 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–100.19%** | **Common Stocks & Other Equity Interests–100.19%** | **Common Stocks & Other Equity Interests–100.19%** |
| **Australia–2.91%** | **Australia–2.91%** | **Australia–2.91%** |
| Breville Group Ltd. | 60268 | &nbsp;&nbsp; $1179949 |
| Cleanaway Waste Management Ltd. | 518732 | &nbsp;&nbsp; 894309 |
| Ventia Services Group Pty. Ltd. | 477157 | &nbsp;&nbsp; 1891985 |
| Worley Ltd. | 107984 | &nbsp;&nbsp; 901754 |
|  |  | &nbsp;&nbsp; 4867997 |
| **Austria–1.19%** | **Austria–1.19%** | **Austria–1.19%** |
| BAWAG Group AG<sup>(a)</sup>  | 13241 | &nbsp;&nbsp; 1994278 |
| **Cayman Islands–0.39%** | **Cayman Islands–0.39%** | **Cayman Islands–0.39%** |
| Bullish<sup>(b)(c)</sup>  | 17024 | &nbsp;&nbsp; 644699 |
| **Chile–0.80%** | **Chile–0.80%** | **Chile–0.80%** |
| Embotelladora Andina S.A., Class B, <br> Preference Shares | 285655 | &nbsp;&nbsp; 1338324 |
| **China–1.59%** | **China–1.59%** | **China–1.59%** |
| Full Truck Alliance Co. Ltd., ADR | 108504 | &nbsp;&nbsp; 1164248 |
| Vipshop Holdings Ltd., ADR | 84586 | &nbsp;&nbsp; 1496326 |
|  |  | &nbsp;&nbsp; 2660574 |
| **Denmark–1.28%** | **Denmark–1.28%** | **Denmark–1.28%** |
| ALK-Abello A/S<sup>(b)</sup>  | 59859 | &nbsp;&nbsp; 2142189 |
| **Finland–1.13%** | **Finland–1.13%** | **Finland–1.13%** |
| Konecranes OYJ | 17189 | &nbsp;&nbsp; 1882289 |
| **France–3.29%** | **France–3.29%** | **France–3.29%** |
| Coface S.A. | 66807 | &nbsp;&nbsp; 1228716 |
| Exail Technologies S.A.<sup>(b)</sup>  | 14128 | &nbsp;&nbsp; 1347355 |
| ID Logistics Group SACA<sup>(b)</sup>  | 2700 | &nbsp;&nbsp; 1300802 |
| Planisware S.A. | 58413 | &nbsp;&nbsp; 1614023 |
|  |  | &nbsp;&nbsp; 5490896 |
| **Georgia–1.15%** | **Georgia–1.15%** | **Georgia–1.15%** |
| Lion Finance Group PLC<sup>(c)</sup>  | 15389 | &nbsp;&nbsp; 1923988 |
| **Germany–4.00%** | **Germany–4.00%** | **Germany–4.00%** |
| CTS Eventim AG & Co. KGaA | 20155 | &nbsp;&nbsp; 1845035 |
| Hypoport SE<sup>(b)</sup>  | 8474 | &nbsp;&nbsp; 1265230 |
| PFISTERER Holding SE<sup>(b)</sup>  | 23654 | &nbsp;&nbsp; 2116066 |
| Scout24 SE<sup>(a)</sup>  | 14575 | &nbsp;&nbsp; 1463912 |
|  |  | &nbsp;&nbsp; 6690243 |
| **Greece–2.31%** | **Greece–2.31%** | **Greece–2.31%** |
| Karelia Tobacco Co., Inc. S.A. | 9265 | &nbsp;&nbsp; 3868922 |
| **Japan–11.26%** | **Japan–11.26%** | **Japan–11.26%** |
| Chiba Bank Ltd. (The) | 163700 | &nbsp;&nbsp; 1826944 |
| Daiei Kankyo Co. Ltd.<sup>(c)</sup>  | 66900 | &nbsp;&nbsp; 1660057 |
| Daifuku Co. Ltd. | 48100 | &nbsp;&nbsp; 1513980 |
| GENDA, Inc.<sup>(b)(c)</sup>  | 199800 | &nbsp;&nbsp; 892308 |
| Hitachi Construction Machinery Co. <br> Ltd. | 54500 | &nbsp;&nbsp; 1611004 |
| Japan Elevator Service Holdings Co. <br> Ltd. | 128600 | &nbsp;&nbsp; 1425203 |
| Kobe Bussan Co. Ltd. | 47100 | &nbsp;&nbsp; 1133729 |
| Nippon Gas Co. Ltd. | 83700 | &nbsp;&nbsp; 1587320 |
| Niterra Co. Ltd. | 47000 | &nbsp;&nbsp; 2070739 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Japan–(continued)** | **Japan–(continued)** | **Japan–(continued)** |
| OBIC Business Consultants Co. Ltd. | 22700 | &nbsp;&nbsp; $1225276 |
| SHO-BOND Holdings Co. Ltd. | 216800 | &nbsp;&nbsp; 1834626 |
| Tokyo Tatemono Co. Ltd. | 89500 | &nbsp;&nbsp; 2028949 |
|  |  | &nbsp;&nbsp; 18810135 |
| **Poland–1.88%** | **Poland–1.88%** | **Poland–1.88%** |
| Mo-BRUK S.A.<sup>(c)</sup>  | 11099 | &nbsp;&nbsp; 1002102 |
| Warsaw Stock Exchange | 117779 | &nbsp;&nbsp; 2131800 |
|  |  | &nbsp;&nbsp; 3133902 |
| **South Korea–2.71%** | **South Korea–2.71%** | **South Korea–2.71%** |
| LEENO Industrial, Inc. | 52419 | &nbsp;&nbsp; 2197960 |
| Samsung Fire & Marine Insurance Co. Ltd. | 6786 | &nbsp;&nbsp; 2337971 |
|  |  | &nbsp;&nbsp; 4535931 |
| **Spain–1.65%** | **Spain–1.65%** | **Spain–1.65%** |
| Laboratorios Farmaceuticos Rovi S.A. | 37088 | &nbsp;&nbsp; 2758583 |
| **Sweden–4.92%** | **Sweden–4.92%** | **Sweden–4.92%** |
| Asker Healthcare Group AB<sup>(b)</sup>  | 372491 | &nbsp;&nbsp; 3394882 |
| Bufab AB | 171482 | &nbsp;&nbsp; 1864121 |
| Karnov Group AB<sup>(b)</sup>  | 151395 | &nbsp;&nbsp; 1645024 |
| NCAB Group AB<sup>(b)</sup>  | 254069 | &nbsp;&nbsp; 1314855 |
|  |  | &nbsp;&nbsp; 8218882 |
| **Taiwan–2.30%** | **Taiwan–2.30%** | **Taiwan–2.30%** |
| Alchip Technologies Ltd. | 16000 | &nbsp;&nbsp; 1786006 |
| Chroma ATE, Inc. | 83000 | &nbsp;&nbsp; 2052877 |
|  |  | &nbsp;&nbsp; 3838883 |
| **Tanzania–1.41%** | **Tanzania–1.41%** | **Tanzania–1.41%** |
| Helios Towers PLC<sup>(b)</sup>  | 1065292 | &nbsp;&nbsp; 2352506 |
| **United Kingdom–4.65%** | **United Kingdom–4.65%** | **United Kingdom–4.65%** |
| Diploma PLC | 25883 | &nbsp;&nbsp; 1841528 |
| Mortgage Advice Bureau Holdings Ltd. | 191444 | &nbsp;&nbsp; 1772814 |
| Savills PLC | 76795 | &nbsp;&nbsp; 1028434 |
| SigmaRoc PLC<sup>(b)</sup>  | 1831690 | &nbsp;&nbsp; 3134151 |
|  |  | &nbsp;&nbsp; 7776927 |
| **United States–49.37%** | **United States–49.37%** | **United States–49.37%** |
| ADMA Biologics, Inc.<sup>(b)</sup>  | 58587 | &nbsp;&nbsp; 1068627 |
| Advanced Energy Industries, Inc. | 8645 | &nbsp;&nbsp; 1810004 |
| AeroVironment, Inc.<sup>(b)</sup>  | 5901 | &nbsp;&nbsp; 1427393 |
| Applied Industrial Technologies, Inc. | 5452 | &nbsp;&nbsp; 1399910 |
| ATI, Inc.<sup>(b)</sup>  | 17651 | &nbsp;&nbsp; 2025629 |
| Axsome Therapeutics, Inc.<sup>(b)</sup>  | 7185 | &nbsp;&nbsp; 1312268 |
| Bancorp, Inc. (The)<sup>(b)</sup>  | 33927 | &nbsp;&nbsp; 2290751 |
| BridgeBio Pharma, Inc.<sup>(b)(c)</sup>  | 16133 | &nbsp;&nbsp; 1234013 |
| Carpenter Technology Corp. | 3723 | &nbsp;&nbsp; 1172149 |
| Casella Waste Systems, Inc., Class A<sup>(b)</sup>  | 15789 | &nbsp;&nbsp; 1546375 |
| Cheesecake Factory, Inc. (The)<sup>(c)</sup>  | 21767 | &nbsp;&nbsp; 1098798 |
| Chefs' Warehouse, Inc. (The)<sup>(b)(c)</sup>  | 16583 | &nbsp;&nbsp; 1033618 |
| Crane Co. | 5694 | &nbsp;&nbsp; 1050144 |
| Dave, Inc.<sup>(b)</sup>  | 5502 | &nbsp;&nbsp; 1218198 |
| DT Midstream, Inc.<sup>(b)</sup>  | 16525 | &nbsp;&nbsp; 1977712 |
| EastGroup Properties, Inc. | 5518 | &nbsp;&nbsp; 982977 |
| Encompass Health Corp. | 15009 | &nbsp;&nbsp; 1593055 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Global Small Cap Equity Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **United States–(continued)** | **United States–(continued)** | **United States–(continued)** |
| Fermi, Inc.<sup>(b)(c)</sup>  | 57137 | &nbsp;&nbsp; $457096 |
| Flex Ltd.<sup>(b)</sup>  | 43229 | &nbsp;&nbsp; 2611896 |
| Frontdoor, Inc.<sup>(b)</sup>  | 26071 | &nbsp;&nbsp; 1504036 |
| Galaxy Digital, Inc.<sup>(b)</sup>  | 25841 | &nbsp;&nbsp; 577805 |
| Gates Industrial Corp. PLC<sup>(b)</sup>  | 66100 | &nbsp;&nbsp; 1419167 |
| Griffon Corp. | 8642 | &nbsp;&nbsp; 636483 |
| Guardant Health, Inc.<sup>(b)</sup>  | 23470 | &nbsp;&nbsp; 2397226 |
| Huron Consulting Group, Inc.<sup>(b)</sup>  | 9622 | &nbsp;&nbsp; 1663740 |
| ICON PLC<sup>(b)</sup>  | 6503 | &nbsp;&nbsp; 1184977 |
| IES Holdings, Inc.<sup>(b)(c)</sup>  | 3231 | &nbsp;&nbsp; 1256924 |
| Impinj, Inc.<sup>(b)(c)</sup>  | 10418 | &nbsp;&nbsp; 1812836 |
| Inspire Medical Systems, Inc.<sup>(b)(c)</sup>  | 10753 | &nbsp;&nbsp; 991749 |
| ITT, Inc. | 8287 | &nbsp;&nbsp; 1437877 |
| Karman Holdings, Inc.<sup>(b)(c)</sup>  | 20010 | &nbsp;&nbsp; 1464132 |
| Kontoor Brands, Inc. | 15895 | &nbsp;&nbsp; 971026 |
| M/I Homes, Inc.<sup>(b)</sup>  | 7792 | &nbsp;&nbsp; 996986 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)</sup>  | 15073 | &nbsp;&nbsp; 2581703 |
| Miami International Holdings, Inc.<sup>(b)</sup>  | 28709 | &nbsp;&nbsp; 1274105 |
| MKS, Inc. | 11092 | &nbsp;&nbsp; 1772502 |
| MP Materials Corp.<sup>(b)(c)</sup>  | 24270 | &nbsp;&nbsp; 1226120 |
| Newmark Group, Inc., Class A | 69737 | &nbsp;&nbsp; 1209240 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(b)</sup>  | 10725 | &nbsp;&nbsp; 1175567 |
| Patrick Industries, Inc. | 8608 | &nbsp;&nbsp; 933365 |
| PennyMac Financial Services, Inc. | 10378 | &nbsp;&nbsp; 1368236 |
| Perimeter Solutions, Inc.<sup>(b)</sup>  | 47433 | &nbsp;&nbsp; 1305831 |
| Piper Sandler Cos. | 7482 | &nbsp;&nbsp; 2541710 |
| Prestige Consumer Healthcare, Inc.<sup>(b)</sup>  | 11832 | &nbsp;&nbsp; 729916 |
| Rambus, Inc.<sup>(b)</sup>  | 9977 | &nbsp;&nbsp; 916787 |
| Repligen Corp.<sup>(b)</sup>  | 7753 | &nbsp;&nbsp; 1270407 |
| Sanmina Corp.<sup>(b)</sup>  | 14706 | &nbsp;&nbsp; 2206929 |
| Silicon Laboratories, Inc.<sup>(b)</sup>  | 12058 | &nbsp;&nbsp; 1575981 |
| Skyward Specialty Insurance Group, Inc.<sup>(b)</sup>  | 26092 | &nbsp;&nbsp; 1333562 |
| SPX Technologies, Inc.<sup>(b)</sup>  | 7565 | &nbsp;&nbsp; 1513454 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **United States–(continued)** | **United States–(continued)** | **United States–(continued)** | **United States–(continued)** |
| StepStone Group, Inc., Class A | StepStone Group, Inc., Class A | 16395 | &nbsp;&nbsp; $1052067 |
| Stifel Financial Corp. | Stifel Financial Corp. | 14436 | &nbsp;&nbsp; 1807676 |
| Viavi Solutions, Inc.<sup>(b)</sup>  | Viavi Solutions, Inc.<sup>(b)</sup>  | 76462 | &nbsp;&nbsp; 1362553 |
| Virtu Financial, Inc., Class A | Virtu Financial, Inc., Class A | 36617 | &nbsp;&nbsp; 1220078 |
| VSE Corp. | VSE Corp. | 7257 | &nbsp;&nbsp; 1253792 |
| WD-40 Co. | WD-40 Co. | 4039 | &nbsp;&nbsp; 795279 |
| WESCO International, Inc. | WESCO International, Inc. | 5619 | &nbsp;&nbsp; 1374632 |
| Western Alliance Bancorporation | Western Alliance Bancorporation | 19364 | &nbsp;&nbsp; 1627932 |
| XPO, Inc.<sup>(b)(c)</sup>  | XPO, Inc.<sup>(b)(c)</sup>  | 10619 | &nbsp;&nbsp; 1443228 |
|  |  |  | &nbsp;&nbsp; 82498229 |
| Total Common Stocks & Other Equity Interests <br> (Cost $154,891,855) | Total Common Stocks & Other Equity Interests <br> (Cost $154,891,855) | Total Common Stocks & Other Equity Interests <br> (Cost $154,891,855) | &nbsp;&nbsp; 167428377 |
| **Money Market Funds–0.00%** | **Money Market Funds–0.00%** | **Money Market Funds–0.00%** | **Money Market Funds–0.00%** |
| Invesco Treasury Portfolio, Institutional Class, <br> 3.64%<sup>(d)(e)</sup> <br>(Cost $106) | Invesco Treasury Portfolio, Institutional Class, <br> 3.64%<sup>(d)(e)</sup> <br>(Cost $106) | 106 | &nbsp;&nbsp; 106 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding Investments purchased with <br> cash collateral from securities on <br> loan)-100.19% <br> (Cost $154,891,961)<br>|  |  | &nbsp;&nbsp; 167428483 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–7.02%** | **Money Market Funds–7.02%** | **Money Market Funds–7.02%** | **Money Market Funds–7.02%** |
| Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | 1924709 | &nbsp;&nbsp; 1924709 |
| Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | 9805460 | &nbsp;&nbsp; 9808402 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,733,111) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,733,111) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,733,111) | &nbsp;&nbsp; 11733111 |
| TOTAL INVESTMENTS IN SECURITIES—107.21% <br> (Cost $166,625,072) | TOTAL INVESTMENTS IN SECURITIES—107.21% <br> (Cost $166,625,072) | TOTAL INVESTMENTS IN SECURITIES—107.21% <br> (Cost $166,625,072) | &nbsp;&nbsp; 179161594 |
| OTHER ASSETS LESS LIABILITIES–(7.21)% | OTHER ASSETS LESS LIABILITIES–(7.21)% | OTHER ASSETS LESS LIABILITIES–(7.21)% | &nbsp;&nbsp; (12048591)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $167113003 |

---

Investment Abbreviations:

ADR – American Depositary Receipt

Notes to Schedule of Investments:

<sup>(a)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at December 31, 2025 was $3,458,190, which represented 2.07% of the Fund's Net Assets. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at December 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended December 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**December 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $1277830 | &nbsp;&nbsp; $36756313 | &nbsp;&nbsp; $(38034143) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $108013 |
| Invesco Treasury Portfolio, Institutional Class | 2843781 | &nbsp;&nbsp; 68261724 | &nbsp;&nbsp; (71105399) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 201684 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 507995 | &nbsp;&nbsp; 23904252 | &nbsp;&nbsp; (22487538) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1924709 | &nbsp;&nbsp; 60,997\* |
| Invesco Private Prime Fund | 1321451 | &nbsp;&nbsp; 54249336 | &nbsp;&nbsp; (45762568) | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 9808402 | &nbsp;&nbsp; 164,804\* |
| Total | $5951057 | &nbsp;&nbsp; $183171625 | &nbsp;&nbsp; $(177389648) | &nbsp;&nbsp; $33 | &nbsp;&nbsp; $150 | &nbsp;&nbsp; $11733217 | &nbsp;&nbsp; $535498 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Global Small Cap Equity Fund**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of December 31, 2025.

<sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 1K. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Global Small Cap Equity Fund**

------

**Statement of Assets and Liabilities**

*December 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $154,891,855)\*<br>| &nbsp;&nbsp; $167428377 |
| Investments in affiliated money market funds, at value <br> (Cost $11,733,217)<br>| &nbsp;&nbsp; 11733217 |
| Cash collateral from securities on loan | &nbsp;&nbsp; 214688 |
| Foreign currencies, at value (Cost $1,842,209) | &nbsp;&nbsp; 1838777 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 151433 |
| Dividends | &nbsp;&nbsp; 517556 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 72789 |
| Other assets | &nbsp;&nbsp; 97507 |
| Total assets | &nbsp;&nbsp; 182054344 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 780475 |
| Amount due custodian | &nbsp;&nbsp; 141808 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 11947799 |
| Accrued fees to affiliates | &nbsp;&nbsp; 68251 |
| Accrued other operating expenses | &nbsp;&nbsp; 33418 |
| IRS closing agreement fees for foreign withholding tax <br> claims<br>| &nbsp;&nbsp; 1893711 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 75879 |
| Total liabilities | &nbsp;&nbsp; 14941341 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $167113003 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $148967243 |
| Distributable earnings | &nbsp;&nbsp; 18145760 |
|  | &nbsp;&nbsp; $167113003 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $97535502 |
| Class C | &nbsp;&nbsp; $1471127 |
| Class Y | &nbsp;&nbsp; $60363362 |
| Class R6 | &nbsp;&nbsp; $7743012 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 7775571 |
| Class C | &nbsp;&nbsp; 132316 |
| Class Y | &nbsp;&nbsp; 4780209 |
| Class R6 | &nbsp;&nbsp; 613195 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $12.54 |
| Maximum offering price per share <br>(Net asset value of $12.54 ÷ 94.50%)<br>| &nbsp;&nbsp; $13.27 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $11.12 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $12.63 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $12.63 |

---

\* At December 31, 2025, securities with an aggregate value of $11,277,110 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Global Small Cap Equity Fund**

------

**Statement of Operations**

*For the year ended December 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $943731 |
| Dividends (net of foreign withholding taxes of $464,867) | &nbsp;&nbsp; 5444476 |
| Dividends from affiliated money market funds (includes net securities lending income of $26,724) | &nbsp;&nbsp; 336421 |
| Foreign withholding tax claims | &nbsp;&nbsp; 1649496 |
| Less: IRS closing agreement fees for foreign withholding tax claims | &nbsp;&nbsp; (1211711)<br>|
| Total investment income | &nbsp;&nbsp; 7162413 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 1584048 |
| Administrative services fees | &nbsp;&nbsp; 24936 |
| Custodian fees | &nbsp;&nbsp; 26910 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 238638 |
| Class C | &nbsp;&nbsp; 14261 |
| Transfer agent fees — A, C and Y | &nbsp;&nbsp; 207346 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 2748 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 22958 |
| Registration and filing fees | &nbsp;&nbsp; 62897 |
| Reports to shareholders | &nbsp;&nbsp; 53555 |
| Professional services fees | &nbsp;&nbsp; 151752 |
| Other | &nbsp;&nbsp; 14749 |
| Total expenses | &nbsp;&nbsp; 2404798 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (173779)<br>|
| Net expenses | &nbsp;&nbsp; 2231019 |
| Net investment income | &nbsp;&nbsp; 4931394 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities (includes net gains from securities sold to affiliates of $1,047,110) | &nbsp;&nbsp; 46819366 |
| Affiliated investment securities | &nbsp;&nbsp; 150 |
| Foreign currencies | &nbsp;&nbsp; 885731 |
|  | &nbsp;&nbsp; 47705247 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (19605209)<br>|
| Affiliated investment securities | &nbsp;&nbsp; 33 |
| Foreign currencies | &nbsp;&nbsp; 31131 |
|  | &nbsp;&nbsp; (19574045)<br>|
| Net realized and unrealized gain | &nbsp;&nbsp; 28131202 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $33062596 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Global Small Cap Equity Fund**

------

**Statement of Changes in Net Assets**

*For the years ended December 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $4931394 | &nbsp;&nbsp; $5749988 |
| Net realized gain | &nbsp;&nbsp; 47705247 | &nbsp;&nbsp; 12140149 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (19574045)<br>| &nbsp;&nbsp; (12826938)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 33062596 | &nbsp;&nbsp; 5063199 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (25906948)<br>| &nbsp;&nbsp; (7477031)<br>|
| Class C | &nbsp;&nbsp; (419925)<br>| &nbsp;&nbsp; (129848)<br>|
| Class Y | &nbsp;&nbsp; (16680827)<br>| &nbsp;&nbsp; (7081372)<br>|
| Class R6 | &nbsp;&nbsp; (2041881)<br>| &nbsp;&nbsp; (775862)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (45049581)<br>| &nbsp;&nbsp; (15464113)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 25006338 | &nbsp;&nbsp; (9763225)<br>|
| Class C | &nbsp;&nbsp; 275164 | &nbsp;&nbsp; (266907)<br>|
| Class Y | &nbsp;&nbsp; (11132487)<br>| &nbsp;&nbsp; (640594)<br>|
| Class R6 | &nbsp;&nbsp; (74230)<br>| &nbsp;&nbsp; 571830 |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 14074785 | &nbsp;&nbsp; (10098896)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; 2087800 | &nbsp;&nbsp; (20499810)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 165025203 | &nbsp;&nbsp; 185525013 |
| End of year | &nbsp;&nbsp; $167113003 | &nbsp;&nbsp; $165025203 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Global Small Cap Equity Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 12/31/25 | $13.92 | $0.43 | $2.59 | $3.02 | $(0.57)<br>| $(3.83)<br>| $(4.40)<br>| $12.54 | 22.00<br> %<br>| &nbsp;&nbsp; $97536 | 1.38<br> %<br>| 1.48<br> %<br>| 2.70<br> %<br>| 147<br> %<br>|
| Year ended 12/31/24 | 14.91 | 0.47 | (0.07)<br>| 0.40 | (0.74)<br>| (0.65)<br>| (1.39)<br>| 13.92 | 2.50 | &nbsp;&nbsp; 80953 | 1.48 | 1.48 | 3.03 | 14 |
| Year ended 12/31/23 | 13.69 | 0.85 <br><sup>(d)</sup><br>| 1.11 | 1.96 | (0.65)<br>| (0.09)<br>| (0.74)<br>| 14.91 | 14.44 | &nbsp;&nbsp; 95566 | 1.44 | 1.45 | 5.94 <br><sup>(d)</sup><br>| 24 |
| Year ended 12/31/22 | 18.25 | 0.46 <br><sup>(d)</sup><br>| (3.48)<br>| (3.02)<br>| (0.36)<br>| (1.18)<br>| (1.54)<br>| 13.69 | (16.25)<br>| &nbsp;&nbsp; 94975 | 1.48 | 1.49 | 3.06 <br><sup>(d)</sup><br>| 5 |
| Year ended 12/31/21 | 15.18 | 0.21 | 3.46 | 3.67 | (0.53)<br>| (0.07)<br>| (0.60)<br>| 18.25 | 24.27 | &nbsp;&nbsp; 123121 | 1.33 | 1.33 | 1.22 | 10 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 12/31/25 | 12.76 | 0.28 | 2.37 | 2.65 | (0.46)<br>| (3.83)<br>| (4.29)<br>| 11.12 | 21.12 | &nbsp;&nbsp; 1471 | 2.14 | 2.23 | 1.94 | 147 |
| Year ended 12/31/24 | 13.77 | 0.33 | (0.07)<br>| 0.26 | (0.62)<br>| (0.65)<br>| (1.27)<br>| 12.76 | 1.72 | &nbsp;&nbsp; 1363 | 2.23 | 2.23 | 2.28 | 14 |
| Year ended 12/31/23 | 12.66 | 0.69 <br><sup>(d)</sup><br>| 1.02 | 1.71 | (0.51)<br>| (0.09)<br>| (0.60)<br>| 13.77 | 13.64 | &nbsp;&nbsp; 1726 | 2.19 | 2.20 | 5.19 <br><sup>(d)</sup><br>| 24 |
| Year ended 12/31/22 | 17.04 | 0.33 <br><sup>(d)</sup><br>| (3.27)<br>| (2.94)<br>| (0.26)<br>| (1.18)<br>| (1.44)<br>| 12.66 | (16.94)<br>| &nbsp;&nbsp; 2568 | 2.23 | 2.24 | 2.31 <br><sup>(d)</sup><br>| 5 |
| Year ended 12/31/21 | 14.01 | 0.08 | 3.19 | 3.27 | (0.17)<br>| (0.07)<br>| (0.24)<br>| 17.04 | 23.35 | &nbsp;&nbsp; 4215 | 2.08 | 2.08 | 0.47 | 10 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 12/31/25 | 13.98 | 0.47 | 2.62 | 3.09 | (0.61)<br>| (3.83)<br>| (4.44)<br>| 12.63 | 22.43 | &nbsp;&nbsp; 60363 | 1.14 | 1.23 | 2.94 | 147 |
| Year ended 12/31/24 | 14.98 | 0.51 | (0.08)<br>| 0.43 | (0.78)<br>| (0.65)<br>| (1.43)<br>| 13.98 | 2.70 | &nbsp;&nbsp; 74610 | 1.23 | 1.23 | 3.28 | 14 |
| Year ended 12/31/23 | 13.75 | 0.89 <br><sup>(d)</sup><br>| 1.12 | 2.01 | (0.69)<br>| (0.09)<br>| (0.78)<br>| 14.98 | 14.75 | &nbsp;&nbsp; 80153 | 1.19 | 1.20 | 6.19 <br><sup>(d)</sup><br>| 24 |
| Year ended 12/31/22 | 18.33 | 0.51 <br><sup>(d)</sup><br>| (3.51)<br>| (3.00)<br>| (0.40)<br>| (1.18)<br>| (1.58)<br>| 13.75 | (16.06)<br>| &nbsp;&nbsp; 75529 | 1.23 | 1.24 | 3.31 <br><sup>(d)</sup><br>| 5 |
| Year ended 12/31/21 | 15.27 | 0.26 | 3.48 | 3.74 | (0.61)<br>| (0.07)<br>| (0.68)<br>| 18.33 | 24.62 | &nbsp;&nbsp; 132546 | 1.08 | 1.08 | 1.47 | 10 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 12/31/25 | 13.98 | 0.48 | 2.62 | 3.10 | (0.62)<br>| (3.83)<br>| (4.45)<br>| 12.63 | 22.51 | &nbsp;&nbsp; 7743 | 1.08 | 1.14 | 3.00 | 147 |
| Year ended 12/31/24 | 14.98 | 0.53 | (0.08)<br>| 0.45 | (0.80)<br>| (0.65)<br>| (1.45)<br>| 13.98 | 2.82 | &nbsp;&nbsp; 8099 | 1.12 | 1.12 | 3.39 | 14 |
| Year ended 12/31/23 | 13.75 | 0.91 <br><sup>(d)</sup><br>| 1.11 | 2.02 | (0.70)<br>| (0.09)<br>| (0.79)<br>| 14.98 | 14.86 | &nbsp;&nbsp; 8080 | 1.09 | 1.10 | 6.29 <br><sup>(d)</sup><br>| 24 |
| Year ended 12/31/22 | 18.33 | 0.52 <br><sup>(d)</sup><br>| (3.50)<br>| (2.98)<br>| (0.42)<br>| (1.18)<br>| (1.60)<br>| 13.75 | (15.95)<br>| &nbsp;&nbsp; 8787 | 1.11 | 1.12 | 3.43 <br><sup>(d)</sup><br>| 5 |
| Year ended 12/31/21 | 15.28 | 0.27 | 3.48 | 3.75 | (0.63)<br>| (0.07)<br>| (0.70)<br>| 18.33 | 24.72 | &nbsp;&nbsp; 12353 | 1.00 | 1.00 | 1.55 | 10 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> Net investment income per share and the ratio of net investment income to average net assets include significant dividends received during the year ended December 31, 2023. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividends are $0.38 and 2.64%, $0.22 and 1.89%, $0.42 and 2.89% and $0.44 and 2.99% for Class A, Class C, Class Y and Class R6 shares, respectively. Net investment income per share and the ratio of net investment income to average net assets include significant dividends received during the year ended December 31, 2022. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividends are $0.35 and 2.33%, $0.22 and 1.58%, $0.40 and 2.58% and $0.41 and 2.70% for Class A, Class C, Class Y and Class R6 shares, respectively. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Global Small Cap Equity Fund**

------

**Notes to Financial Statements**

*December 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Global Small Cap Equity Fund, formerly Invesco EQV European Small Company Fund, (the "Fund") is a series portfolio of AIM Funds Group (Invesco Funds Group) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital.

The Fund currently consists of four different classes of shares: Class A, Class C, Class Y and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class Y and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**9**

**Invesco Global Small Cap Equity Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Foreign Withholding Taxes –** The Fund is subject to foreign withholding tax imposed by certain foreign countries in which the Fund may invest. Withholding taxes are incurred on certain foreign dividends and are accrued at the time the dividend is recognized based on applicable foreign tax laws. The Fund may file withholding tax refunds in certain jurisdictions to seek to recover a portion of amounts previously withheld. The Fund will record a receivable for such tax refunds based on several factors including; an assessment of a jurisdiction's legal obligation to pay reclaims, administrative practices and payment history. Any receivables recorded will be shown under receivables for *Foreign withholding tax claims* on the Statement of Assets and Liabilities. There is no guarantee that the Fund will receive refunds applied for in a timely manner or at all.

As a result of recent court rulings in certain countries across the European Union, tax refunds for previously withheld taxes on dividends earned in those countries have been received by investment companies. Any tax refund payments are reflected as *Foreign withholding tax claims* in the Statement of Operations, and any related interest is included in *Interest income*. The Fund may incur fees paid to third party providers that assist in the recovery of the tax reclaims. These fees are reflected on the Statement of Operations as *Professional services fees,* if any. In the event tax refunds received by the Fund during the fiscal year exceed the foreign withholding taxes paid by the Fund for the year, and the Fund previously passed foreign tax credits on to its shareholders, the Fund intends to enter into a closing agreement with the Internal Revenue Service in order to pay the associated liability on behalf of the Funds' shareholders. For the year ended December 31, 2025, the Fund received refunds in excess of the foreign tax paid during the year and has recorded the estimated liability as a reduction to income which is reflected as IRS closing agreement fees for foreign withholding tax claims on the Statement of Operations.

**G.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R6 are charged to such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**H.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**I.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**J.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"),

**10**

**Invesco Global Small Cap Equity Fund**

------

assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**K.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended December 31, 2025, the Fund paid the Adviser $1,172 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**L.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**M.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**N.** **Other Risks** - Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the

**11**

**Invesco Global Small Cap Equity Fund**

------

Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Effective August 22, 2025, under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.850% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.825% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.785% |
| Over $1 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.760% |

---

Prior to August 22, 2025, the Fund accrued daily and paid monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.935% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.910% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.885% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.860% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.835% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.810% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.785% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.760% |

---

For the year ended December 31, 2025, the effective advisory fee rate incurred by the Fund was 0.90%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

Effective August 22, 2025, the Adviser has agreed, through August 31, 2026, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class Y and Class R6 shares to 1.24%, 1.99%, 0.99% and 0.99%, respectively, of the Fund's average daily net assets (the "expense limits"). Prior to August 22, 2025, the Adviser had agreed to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waivers and/or expense reimbursements (excluding certain items discussed below) of Class A, Class C, Class Y and Class R6 shares to 2.25%, 3.00%, 2.00% and 2.00%, respectively, of the Fund's average daily net assets. Effective September 1, 2026, the Adviser has agreed, through August 31, 2027, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waivers and/or expense reimbursements (excluding certain items discussed below) of Class A, Class C, Class Y and Class R6 shares to 1.24%, 1.99%, 0.99% and 0.88%, respectively, of the Fund's average daily net assets. In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver agreement, it will terminate on August 31, 2027. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waivers without approval of the Board of Trustees.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended December 31, 2025, the Adviser waived advisory fees of $10,652 and reimbursed class level expenses of $90,982, $1,332, $64,063 and $2,748 of Class A, Class C, Class Y and Class R6 shares, respectively.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services.

**12**

**Invesco Global Small Cap Equity Fund**

------

IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class Y and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A and Class C shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares and 1.00% of the average daily net assets of Class C shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended December 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended December 31, 2025, IDI advised the Fund that IDI retained $12,345 in front-end sales commissions from the sale of Class A shares and $23 and $62 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended December 31, 2025, the Fund incurred $2,098 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of December 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $4867997 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $4867997 |
| Austria | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1994278 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1994278 |
| Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp; 644699 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 644699 |
| Chile | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1338324 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1338324 |
| China | &nbsp;&nbsp;&nbsp;&nbsp; 2660574 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2660574 |
| Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2142189 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2142189 |
| Finland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1882289 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1882289 |
| France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5490896 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5490896 |
| Georgia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1923988 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1923988 |
| Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6690243 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6690243 |
| Greece | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3868922 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3868922 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18810135 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18810135 |
| Poland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3133902 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3133902 |
| South Korea | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4535931 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4535931 |
| Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2758583 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2758583 |
| Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8218882 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8218882 |
| Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838883 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838883 |
| Tanzania | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2352506 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2352506 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7776927 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7776927 |
| United States | &nbsp;&nbsp;&nbsp;&nbsp; 82498229 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82498229 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 11733111 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11733217 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $85803608 | &nbsp;&nbsp;&nbsp;&nbsp; $93357986 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $179161594 |

---

**NOTE 4—Security Transactions with Affiliated Funds**

The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common

**13**

**Invesco Global Small Cap Equity Fund**

------

officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended December 31, 2025, the Fund engaged in securities sales of $1,370,094, which resulted in net realized gains of $1,047,110.

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended December 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $4,002.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 7—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $5936218 | &nbsp;&nbsp;&nbsp;&nbsp; $8398655 |
| Long-term capital gain | &nbsp;&nbsp; 39113363 | &nbsp;&nbsp;&nbsp;&nbsp; 7065458 |
| Total distributions | &nbsp;&nbsp; $45049581 | &nbsp;&nbsp;&nbsp;&nbsp; $15464113 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $1901178 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 6242627 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 10022719 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 22067 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (42831)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 148967243 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $167113003 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to passive foreign investment companies.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of December 31, 2025.

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended December 31, 2025 was $246,130,137 and $264,535,079, respectively. As of December 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $19056567 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (9033848)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $10022719 |

---

Cost of investments for tax purposes is $169,138,875.

**14**

**Invesco Global Small Cap Equity Fund**

------

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies and foreign currency transactions, on December 31, 2025, undistributed net investment income was increased by $2,568,197 and undistributed net realized gain was decreased by $2,568,197. This reclassification had no effect on the net assets or the distributable earnings of the Fund.

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1317376 | &nbsp;&nbsp;&nbsp; $21573697 | &nbsp;&nbsp;&nbsp; 233773 | &nbsp;&nbsp;&nbsp; $3651117 |
| Class C | &nbsp;&nbsp;&nbsp; 50082 | &nbsp;&nbsp;&nbsp; 760537 | &nbsp;&nbsp;&nbsp; 15047 | &nbsp;&nbsp;&nbsp; 212601 |
| Class Y | &nbsp;&nbsp;&nbsp; 873323 | &nbsp;&nbsp;&nbsp; 13611464 | &nbsp;&nbsp;&nbsp; 706738 | &nbsp;&nbsp;&nbsp; 11120418 |
| Class R6 | &nbsp;&nbsp;&nbsp; 144651 | &nbsp;&nbsp;&nbsp; 2322833 | &nbsp;&nbsp;&nbsp; 132353 | &nbsp;&nbsp;&nbsp; 2070190 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1878350 | &nbsp;&nbsp;&nbsp; 23310124 | &nbsp;&nbsp;&nbsp; 481320 | &nbsp;&nbsp;&nbsp; 6820304 |
| Class C | &nbsp;&nbsp;&nbsp; 35860 | &nbsp;&nbsp;&nbsp; 394453 | &nbsp;&nbsp;&nbsp; 8826 | &nbsp;&nbsp;&nbsp; 114740 |
| Class Y | &nbsp;&nbsp;&nbsp; 1028435 | &nbsp;&nbsp;&nbsp; 12845157 | &nbsp;&nbsp;&nbsp; 395508 | &nbsp;&nbsp;&nbsp; 5632029 |
| Class R6 | &nbsp;&nbsp;&nbsp; 154923 | &nbsp;&nbsp;&nbsp; 1934993 | &nbsp;&nbsp;&nbsp; 50953 | &nbsp;&nbsp;&nbsp; 725577 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 19954 | &nbsp;&nbsp;&nbsp; 307995 | &nbsp;&nbsp;&nbsp; 12174 | &nbsp;&nbsp;&nbsp; 187049 |
| Class C | &nbsp;&nbsp;&nbsp; (21864)<br>| &nbsp;&nbsp;&nbsp; (307995)<br>| &nbsp;&nbsp;&nbsp; (13229)<br>| &nbsp;&nbsp;&nbsp; (187049)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (1257687)<br>| &nbsp;&nbsp;&nbsp; (20185478)<br>| &nbsp;&nbsp;&nbsp; (1319496)<br>| &nbsp;&nbsp;&nbsp; (20421695)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (38632)<br>| &nbsp;&nbsp;&nbsp; (571831)<br>| &nbsp;&nbsp;&nbsp; (29143)<br>| &nbsp;&nbsp;&nbsp; (407199)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (2457358)<br>| &nbsp;&nbsp;&nbsp; (37589108)<br>| &nbsp;&nbsp;&nbsp; (1117433)<br>| &nbsp;&nbsp;&nbsp; (17393041)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (265583)<br>| &nbsp;&nbsp;&nbsp; (4332056)<br>| &nbsp;&nbsp;&nbsp; (143536)<br>| &nbsp;&nbsp;&nbsp; (2223937)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 1461830 | &nbsp;&nbsp;&nbsp; $14074785 | &nbsp;&nbsp;&nbsp; (586145)<br>| &nbsp;&nbsp;&nbsp; $(10098896)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 47% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**Invesco Global Small Cap Equity Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Funds Group (Invesco Funds Group) and Shareholders of Invesco Global Small Cap Equity Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Global Small Cap Equity Fund (one of the funds constituting AIM Funds Group (Invesco Funds Group), referred to hereafter as the "Fund") as of December 31, 2025, the related statement of operations for the year ended December 31, 2025, the statement of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2025 and the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

February 19, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**Invesco Global Small Cap Equity Fund**

------

**Distribution Information&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

Shareholders were sent a notice from the Fund that set forth an estimate on a per share basis of the source or sources from which the distribution was paid in December of 2025. Subsequently, certain of these estimates have been corrected. Listed below is a written statement of the sources of this distribution, as corrected, on a generally accepted accounting principles ("GAAP") basis.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | **Net Income** | &nbsp;&nbsp;&nbsp;&nbsp; **Gain from** <br>**Sale of Securities**<br>| **Return of Principal** | **Total Distribution** |
| 12/18/2025 | Class A | &nbsp;&nbsp;&nbsp;&nbsp; $0.5594 | &nbsp;&nbsp;&nbsp;&nbsp; $3.8310 | &nbsp;&nbsp;&nbsp;&nbsp; $0.0060 | &nbsp;&nbsp;&nbsp;&nbsp; $4.3964 |
| 12/18/2025 | Class C | &nbsp;&nbsp;&nbsp;&nbsp; $0.4508 | &nbsp;&nbsp;&nbsp;&nbsp; $3.8310 | &nbsp;&nbsp;&nbsp;&nbsp; $0.0060 | &nbsp;&nbsp;&nbsp;&nbsp; $4.2878 |
| 12/18/2025 | Class Y | &nbsp;&nbsp;&nbsp;&nbsp; $0.5996 | &nbsp;&nbsp;&nbsp;&nbsp; $3.8310 | &nbsp;&nbsp;&nbsp;&nbsp; $0.0060 | &nbsp;&nbsp;&nbsp;&nbsp; $4.4366 |
| 12/18/2025 | Class R6 | &nbsp;&nbsp;&nbsp;&nbsp; $0.6098 | &nbsp;&nbsp;&nbsp;&nbsp; $3.8310 | &nbsp;&nbsp;&nbsp;&nbsp; $0.0060 | &nbsp;&nbsp;&nbsp;&nbsp; $4.4468 |

---

Please note that the information in the preceding chart is for financial accounting purposes only. Shareholders should be aware that the tax treatment of distributions likely differs from GAAP treatment. Form 1099-DIV for the calendar year will report distributions for US federal income tax purposes. This Notice is sent to comply with certain US Securities and Exchange Commission requirements.

**17**

**Invesco Global Small Cap Equity Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended December 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $39113363 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 77.56% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 2.82% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**18**

**Invesco Global Small Cap Equity Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**19**

**Invesco Global Small Cap Equity Fund**

------

![](imgf4e4e0971.jpg)

SEC file number(s): 811-01540 and 002-27334

Invesco Distributors, Inc.

ESC-NCSR

------

![](imgde1aaf4e1.jpg)

------

**Annual Financial Statements and Other Information**

**December 31, 2025**

**Invesco International Small Company Fund**

Effective August 22, 2025, Invesco EQV International Small Company Fund was renamed Invesco International Small Company Fund.

Nasdaq:

A: IEGAX ■ C: IEGCX ■ Y: IEGYX ■ R5: IEGIX ■ R6: IEGFX

------

---

| | |
|:---|:---|
| [2](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_SOI-Continued-57_1) | Schedule of Investments |
| [4](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_FS-Continued-57_1) | Financial Statements |
| [7](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_FS-Continued-57_4) | Financial Highlights |
| [8](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_NTF-Continued-57_1) | Notes to Financial Statements |
| [15](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_ARS-Continued-57_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_TI-Continued-57_1) | Tax Information |
| [17](#xx_2805214f-d267-4e84-8d9b-07b1049d7581_OIRSR-Continued-57_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*December 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–97.34%** | **Common Stocks & Other Equity Interests–97.34%** | **Common Stocks & Other Equity Interests–97.34%** |
| **Australia–3.66%** | **Australia–3.66%** | **Australia–3.66%** |
| Breville Group Ltd. | 223233 | &nbsp;&nbsp; $4370537 |
| Cleanaway Waste Management Ltd. | 2865799 | &nbsp;&nbsp; 4940726 |
| Ventia Services Group Pty. Ltd. | 2160123 | &nbsp;&nbsp; 8565150 |
| Worley Ltd.<sup>(a)</sup>  | 777852 | &nbsp;&nbsp; 6495692 |
|  |  | &nbsp;&nbsp; 24372105 |
| **Austria–3.70%** | **Austria–3.70%** | **Austria–3.70%** |
| BAWAG Group AG<sup>(b)</sup>  | 88866 | &nbsp;&nbsp; 13384453 |
| DO & Co. AG | 46567 | &nbsp;&nbsp; 11316405 |
|  |  | &nbsp;&nbsp; 24700858 |
| **Brazil–2.18%** | **Brazil–2.18%** | **Brazil–2.18%** |
| Arcos Dorados Holdings, Inc., Class A<sup>(a)</sup>  | 569768 | &nbsp;&nbsp; 4182097 |
| TOTVS S.A. | 1353500 | &nbsp;&nbsp; 10343873 |
|  |  | &nbsp;&nbsp; 14525970 |
| **Canada–1.53%** | **Canada–1.53%** | **Canada–1.53%** |
| Information Services Corp. | 301900 | &nbsp;&nbsp; 10227933 |
| **China–6.09%** | **China–6.09%** | **China–6.09%** |
| Airtac International Group | 282000 | &nbsp;&nbsp; 8311139 |
| Full Truck Alliance Co. Ltd., ADR | 760524 | &nbsp;&nbsp; 8160423 |
| Sunresin New Materials Co. Ltd., A <br> Shares | 765133 | &nbsp;&nbsp; 6758098 |
| Tongcheng Travel Holdings Ltd.<sup>(b)</sup>  | 2962400 | &nbsp;&nbsp; 8551227 |
| Vipshop Holdings Ltd., ADR | 496841 | &nbsp;&nbsp; 8789117 |
|  |  | &nbsp;&nbsp; 40570004 |
| **Denmark–1.63%** | **Denmark–1.63%** | **Denmark–1.63%** |
| ALK-Abello A/S<sup>(c)</sup>  | 304543 | &nbsp;&nbsp; 10898759 |
| **Finland–3.68%** | **Finland–3.68%** | **Finland–3.68%** |
| Framery Group Oyj<sup>(c)</sup>  | 864826 | &nbsp;&nbsp; 8486468 |
| Konecranes OYJ | 146287 | &nbsp;&nbsp; 16019222 |
|  |  | &nbsp;&nbsp; 24505690 |
| **France–5.90%** | **France–5.90%** | **France–5.90%** |
| Coface S.A. | 510964 | &nbsp;&nbsp; 9397661 |
| Exail Technologies S.A.<sup>(c)</sup>  | 89680 | &nbsp;&nbsp; 8552577 |
| ID Logistics Group SACA<sup>(c)</sup>  | 21351 | &nbsp;&nbsp; 10286451 |
| Planisware S.A.<sup>(a)</sup>  | 401432 | &nbsp;&nbsp; 11092065 |
|  |  | &nbsp;&nbsp; 39328754 |
| **Georgia–2.15%** | **Georgia–2.15%** | **Georgia–2.15%** |
| Lion Finance Group PLC | 114410 | &nbsp;&nbsp; 14303945 |
| **Germany–7.98%** | **Germany–7.98%** | **Germany–7.98%** |
| CTS Eventim AG & Co. KGaA | 170092 | &nbsp;&nbsp; 15570612 |
| flatexDEGIRO AG | 364422 | &nbsp;&nbsp; 15612540 |
| Hypoport SE<sup>(c)</sup>  | 53395 | &nbsp;&nbsp; 7972266 |
| PFISTERER Holding SE<sup>(c)</sup>  | 54836 | &nbsp;&nbsp; 4905581 |
| Scout24 SE<sup>(b)</sup>  | 91140 | &nbsp;&nbsp; 9154094 |
|  |  | &nbsp;&nbsp; 53215093 |
| **India–5.23%** | **India–5.23%** | **India–5.23%** |
| Castrol India Ltd. | 3453603 | &nbsp;&nbsp; 7405860 |
| Emami Ltd. | 791389 | &nbsp;&nbsp; 4660346 |
| EPL Ltd. | 3182339 | &nbsp;&nbsp; 7622245 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **India–(continued)** | **India–(continued)** | **India–(continued)** |
| KEC International Ltd. | 567634 | &nbsp;&nbsp; $4654537 |
| Shriram Finance Ltd. | 945812 | &nbsp;&nbsp; 10496281 |
|  |  | &nbsp;&nbsp; 34839269 |
| **Indonesia–1.98%** | **Indonesia–1.98%** | **Indonesia–1.98%** |
| PT Kalbe Farma Tbk | 73599100 | &nbsp;&nbsp; 5309855 |
| PT Mitra Keluarga Karyasehat Tbk<sup>(b)</sup>  | 55129800 | &nbsp;&nbsp; 7862975 |
|  |  | &nbsp;&nbsp; 13172830 |
| **Japan–19.02%** | **Japan–19.02%** | **Japan–19.02%** |
| Chiba Bank Ltd. (The) | 1010900 | &nbsp;&nbsp; 11281965 |
| Daiei Kankyo Co. Ltd.<sup>(a)</sup>  | 356800 | &nbsp;&nbsp; 8853635 |
| Daifuku Co. Ltd. | 278100 | &nbsp;&nbsp; 8753387 |
| GENDA, Inc.<sup>(a)(c)</sup>  | 822700 | &nbsp;&nbsp; 3674183 |
| Hitachi Construction Machinery Co. Ltd. | 322700 | &nbsp;&nbsp; 9538915 |
| Japan Elevator Service Holdings Co. Ltd. | 681800 | &nbsp;&nbsp; 7556014 |
| Kobe Bussan Co. Ltd. | 570400 | &nbsp;&nbsp; 13729919 |
| Nippon Gas Co. Ltd. | 391400 | &nbsp;&nbsp; 7422665 |
| Niterra Co. Ltd. | 256000 | &nbsp;&nbsp; 11278919 |
| OBIC Business Consultants Co. Ltd. | 104100 | &nbsp;&nbsp; 5618997 |
| SHO-BOND Holdings Co. Ltd. | 1123200 | &nbsp;&nbsp; 9504854 |
| Tokyo Ohka Kogyo Co. Ltd. | 269200 | &nbsp;&nbsp; 9978130 |
| Tokyo Tatemono Co. Ltd. | 564200 | &nbsp;&nbsp; 12790310 |
| Zuken, Inc.<sup>(a)</sup>  | 217000 | &nbsp;&nbsp; 6779314 |
|  |  | &nbsp;&nbsp; 126761207 |
| **Malaysia–1.43%** | **Malaysia–1.43%** | **Malaysia–1.43%** |
| Heineken Malaysia Bhd. | 1681300 | &nbsp;&nbsp; 9511472 |
| **Mexico–1.89%** | **Mexico–1.89%** | **Mexico–1.89%** |
| Bolsa Mexicana de Valores S.A.B. de C.V. | 3511594 | &nbsp;&nbsp; 7219170 |
| Genomma Lab Internacional S.A.B de C.V., <br> Class B | 5425100 | &nbsp;&nbsp; 5389701 |
|  |  | &nbsp;&nbsp; 12608871 |
| **Netherlands–2.08%** | **Netherlands–2.08%** | **Netherlands–2.08%** |
| SBM Offshore N.V. | 481147 | &nbsp;&nbsp; 13843596 |
| **Poland–0.57%** | **Poland–0.57%** | **Poland–0.57%** |
| Diagnostyka S.A. | 77120 | &nbsp;&nbsp; 3667251 |
| Mo-BRUK S.A. | 1804 | &nbsp;&nbsp; 162879 |
|  |  | &nbsp;&nbsp; 3830130 |
| **South Africa–0.67%** | **South Africa–0.67%** | **South Africa–0.67%** |
| Karooooo Ltd. | 98180 | &nbsp;&nbsp; 4467190 |
| **South Korea–4.87%** | **South Korea–4.87%** | **South Korea–4.87%** |
| LEENO Industrial, Inc. | 282690 | &nbsp;&nbsp; 11853359 |
| Samsung Fire & Marine Insurance Co. Ltd. | 59848 | &nbsp;&nbsp; 20619347 |
|  |  | &nbsp;&nbsp; 32472706 |
| **Sweden–7.59%** | **Sweden–7.59%** | **Sweden–7.59%** |
| Asker Healthcare Group AB<sup>(a)(c)</sup>  | 1542205 | &nbsp;&nbsp; 14055655 |
| Asmodee Group AB<sup>(c)</sup>  | 789736 | &nbsp;&nbsp; 9059199 |
| Bufab AB<sup>(a)</sup>  | 1060652 | &nbsp;&nbsp; 11529976 |
| Karnov Group AB<sup>(c)</sup>  | 715048 | &nbsp;&nbsp; 7769549 |
| NCAB Group AB<sup>(a)(c)</sup>  | 1586129 | &nbsp;&nbsp; 8208515 |
|  |  | &nbsp;&nbsp; 50622894 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco International Small Company Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Taiwan–4.13%** | **Taiwan–4.13%** | **Taiwan–4.13%** |
| Alchip Technologies Ltd. | 54000 | &nbsp;&nbsp; $6027771 |
| ASPEED Technology, Inc. | 40000 | &nbsp;&nbsp; 9202807 |
| Chroma ATE, Inc. | 497000 | &nbsp;&nbsp; 12292526 |
|  |  | &nbsp;&nbsp; 27523104 |
| **Tanzania–2.38%** | **Tanzania–2.38%** | **Tanzania–2.38%** |
| Helios Towers PLC<sup>(c)</sup>  | 7192040 | &nbsp;&nbsp; 15882328 |
| **United Kingdom–7.00%** | **United Kingdom–7.00%** | **United Kingdom–7.00%** |
| 4imprint Group PLC | 176206 | &nbsp;&nbsp; 9069257 |
| Diploma PLC | 139437 | &nbsp;&nbsp; 9920685 |
| Mortgage Advice Bureau Holdings Ltd. | 526801 | &nbsp;&nbsp; 4878293 |
| Savills PLC | 390570 | &nbsp;&nbsp; 5230491 |
| SigmaRoc PLC<sup>(c)</sup>  | 10258269 | &nbsp;&nbsp; 17552625 |
|  |  | &nbsp;&nbsp; 46651351 |
| Total Common Stocks & Other Equity Interests <br> (Cost $549,848,657) | Total Common Stocks & Other Equity Interests <br> (Cost $549,848,657) | &nbsp;&nbsp; 648836059 |
| **Money Market Funds–2.50%** | **Money Market Funds–2.50%** | **Money Market Funds–2.50%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.68%<sup>(d)(e)</sup>  | 5837331 | &nbsp;&nbsp; 5837331 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(d)(e)</sup>  | 10840757 | &nbsp;&nbsp; $10840757 |
| Total Money Market Funds (Cost $16,678,088) | Total Money Market Funds (Cost $16,678,088) | Total Money Market Funds (Cost $16,678,088) | &nbsp;&nbsp; 16678088 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding Investments purchased <br> with cash collateral from securities <br> on loan)-99.84% <br> (Cost $566,526,745)<br>|  |  | &nbsp;&nbsp; 665514147 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–3.24%** | **Money Market Funds–3.24%** | **Money Market Funds–3.24%** | **Money Market Funds–3.24%** |
| Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | 6004711 | &nbsp;&nbsp; 6004711 |
| Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | 15598262 | &nbsp;&nbsp; 15602941 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $21,607,652) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $21,607,652) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $21,607,652) | &nbsp;&nbsp; 21607652 |
| TOTAL INVESTMENTS IN SECURITIES—103.08% <br> (Cost $588,134,397) | TOTAL INVESTMENTS IN SECURITIES—103.08% <br> (Cost $588,134,397) | TOTAL INVESTMENTS IN SECURITIES—103.08% <br> (Cost $588,134,397) | &nbsp;&nbsp; 687121799 |
| OTHER ASSETS LESS LIABILITIES–(3.08)% | OTHER ASSETS LESS LIABILITIES–(3.08)% | OTHER ASSETS LESS LIABILITIES–(3.08)% | &nbsp;&nbsp; (20538008)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $666583791 |

---

Investment Abbreviations:

ADR – American Depositary Receipt

Notes to Schedule of Investments:

<sup>(a)</sup> All or a portion of this security was out on loan at December 31, 2025.

<sup>(b)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at December 31, 2025 was $38,952,749, which represented 5.84% of the Fund's Net Assets. 

<sup>(c)</sup> Non-income producing security.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended December 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**December 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $11386780 | &nbsp;&nbsp; $83210475 | &nbsp;&nbsp; $(88759924) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $5837331 | &nbsp;&nbsp; $344176 |
| Invesco Treasury Portfolio, Institutional Class | 21317139 | &nbsp;&nbsp; 154533740 | &nbsp;&nbsp; (165010122) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 10840757 | &nbsp;&nbsp; 638868 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 2014166 | &nbsp;&nbsp; 52746217 | &nbsp;&nbsp; (48755672) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 6004711 | &nbsp;&nbsp; 179,391\* |
| Invesco Private Prime Fund | 5247901 | &nbsp;&nbsp; 108305475 | &nbsp;&nbsp; (97951172) | &nbsp;&nbsp; - | &nbsp;&nbsp; 737 | &nbsp;&nbsp; 15602941 | &nbsp;&nbsp; 481,357\* |
| Total | $39965986 | &nbsp;&nbsp; $398795907 | &nbsp;&nbsp; $(400476890) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $737 | &nbsp;&nbsp; $38285740 | &nbsp;&nbsp; $1643792 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of December 31, 2025.

<sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 1K. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco International Small Company Fund**

------

**Statement of Assets and Liabilities**

*December 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $549,848,657)\*<br>| &nbsp;&nbsp; $648836059 |
| Investments in affiliated money market funds, at value <br> (Cost $38,285,740)<br>| &nbsp;&nbsp; 38285740 |
| Foreign currencies, at value (Cost $69,961) | &nbsp;&nbsp; 69480 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 469375 |
| Dividends | &nbsp;&nbsp; 1543795 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 115720 |
| Other assets | &nbsp;&nbsp; 57132 |
| Total assets | &nbsp;&nbsp; 689377301 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 593026 |
| Amount due custodian | &nbsp;&nbsp; 28677 |
| Accrued foreign taxes | &nbsp;&nbsp; 125718 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 21607652 |
| Accrued fees to affiliates | &nbsp;&nbsp; 243001 |
| Accrued other operating expenses | &nbsp;&nbsp; 76214 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 119222 |
| Total liabilities | &nbsp;&nbsp; 22793510 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $666583791 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $565728606 |
| Distributable earnings | &nbsp;&nbsp; 100855185 |
|  | &nbsp;&nbsp; $666583791 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $157135339 |
| Class C | &nbsp;&nbsp; $2660880 |
| Class Y | &nbsp;&nbsp; $225906272 |
| Class R5 | &nbsp;&nbsp; $22712394 |
| Class R6 | &nbsp;&nbsp; $258168906 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 7426801 |
| Class C | &nbsp;&nbsp; 134778 |
| Class Y | &nbsp;&nbsp; 10658297 |
| Class R5 | &nbsp;&nbsp; 1085584 |
| Class R6 | &nbsp;&nbsp; 12351282 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $21.16 |
| Maximum offering price per share <br>(Net asset value of $21.16 ÷ 94.50%)<br>| &nbsp;&nbsp; $22.39 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.74 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $21.20 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $20.92 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $20.90 |

---

\* At December 31, 2025, securities with an aggregate value of $19,376,028 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco International Small Company Fund**

------

**Statement of Operations**

*For the year ended December 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $222251 |
| Dividends (net of foreign withholding taxes of $1,315,561) | &nbsp;&nbsp; 14376941 |
| Dividends from affiliated money market funds (includes net securities lending income of $51,809) | &nbsp;&nbsp; 1034853 |
| Foreign withholding tax claims | &nbsp;&nbsp; 576563 |
| Total investment income | &nbsp;&nbsp; 16210608 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 5491774 |
| Administrative services fees | &nbsp;&nbsp; 84576 |
| Custodian fees | &nbsp;&nbsp; 56150 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 378605 |
| Class C | &nbsp;&nbsp; 26446 |
| Transfer agent fees — A, C and Y | &nbsp;&nbsp; 841944 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 20965 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 73284 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 25886 |
| Registration and filing fees | &nbsp;&nbsp; 92061 |
| Reports to shareholders | &nbsp;&nbsp; 135089 |
| Professional services fees | &nbsp;&nbsp; 128665 |
| Other | &nbsp;&nbsp; 21324 |
| Total expenses | &nbsp;&nbsp; 7376769 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (30420)<br>|
| Net expenses | &nbsp;&nbsp; 7346349 |
| Net investment income | &nbsp;&nbsp; 8864259 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities (includes net gains from securities sold to affiliates of $129,479) | &nbsp;&nbsp; 76946433 |
| Affiliated investment securities | &nbsp;&nbsp; 737 |
| Foreign currencies | &nbsp;&nbsp; 136119 |
|  | &nbsp;&nbsp; 77083289 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities (net of foreign taxes of $24,297) | &nbsp;&nbsp; 46198022 |
| Foreign currencies | &nbsp;&nbsp; 42600 |
|  | &nbsp;&nbsp; 46240622 |
| Net realized and unrealized gain | &nbsp;&nbsp; 123323911 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $132188170 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco International Small Company Fund**

------

**Statement of Changes in Net Assets**

*For the years ended December 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $8864259 | &nbsp;&nbsp; $8176374 |
| Net realized gain | &nbsp;&nbsp; 77083289 | &nbsp;&nbsp; 10568986 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; 46240622 | &nbsp;&nbsp; (30282383)<br>|
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 132188170 | &nbsp;&nbsp; (11537023)<br>|
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (19479791)<br>| &nbsp;&nbsp; (4283439)<br>|
| Class C | &nbsp;&nbsp; (331548)<br>| &nbsp;&nbsp; (60642)<br>|
| Class Y | &nbsp;&nbsp; (28396178)<br>| &nbsp;&nbsp; (3806174)<br>|
| Class R5 | &nbsp;&nbsp; (2878713)<br>| &nbsp;&nbsp; (629242)<br>|
| Class R6 | &nbsp;&nbsp; (33282806)<br>| &nbsp;&nbsp; (8042884)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (84369036)<br>| &nbsp;&nbsp; (16822381)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 4620217 | &nbsp;&nbsp; (5100546)<br>|
| Class C | &nbsp;&nbsp; (13681)<br>| &nbsp;&nbsp; (393155)<br>|
| Class Y | &nbsp;&nbsp; 102078212 | &nbsp;&nbsp; 35216889 |
| Class R5 | &nbsp;&nbsp; 3713865 | &nbsp;&nbsp; (2214714)<br>|
| Class R6 | &nbsp;&nbsp; 14093223 | &nbsp;&nbsp; 29525391 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 124491836 | &nbsp;&nbsp; 57033865 |
| Net increase in net assets | &nbsp;&nbsp; 172310970 | &nbsp;&nbsp; 28674461 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 494272821 | &nbsp;&nbsp; 465598360 |
| End of year | &nbsp;&nbsp; $666583791 | &nbsp;&nbsp; $494272821 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco International Small Company Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 12/31/25 | $19.21 | $0.26 | $4.65 | $4.91 | $(0.25)<br>| $(2.71)<br>| $(2.96)<br>| $21.16 | 25.83<br> %<br>| &nbsp;&nbsp; $157135 | 1.51<br> %<br>| 1.51<br> %<br>| 1.19<br> %<br>| 80<br> %<br>|
| Year ended 12/31/24 | 20.34 | 0.28 | (0.80)<br>| (0.52)<br>| (0.26)<br>| (0.35)<br>| (0.61)<br>| 19.21 | (2.62)<br>| &nbsp;&nbsp; 137986 | 1.60 | 1.69 | 1.36 | 23 |
| Year ended 12/31/23 | 18.24 | 0.55 <br><sup>(d)</sup><br>| 2.01 | 2.56 | (0.44)<br>| (0.02)<br>| (0.46)<br>| 20.34 | 14.12 | &nbsp;&nbsp; 151012 | 1.71 | 1.72 | 2.90 <br><sup>(d)</sup><br>| 11 |
| Year ended 12/31/22 | 21.18 | 0.48 <br><sup>(d)</sup><br>| (2.88)<br>| (2.40)<br>| (0.35)<br>| (0.19)<br>| (0.54)<br>| 18.24 | (11.27)<br>| &nbsp;&nbsp; 131971 | 1.49 | 1.50 | 2.55 <br><sup>(d)</sup><br>| 10 |
| Year ended 12/31/21 | 18.67 | 0.26 | 3.14 | 3.40 | (0.38)<br>| (0.51)<br>| (0.89)<br>| 21.18 | 18.38 | &nbsp;&nbsp; 150947 | 1.47 | 1.47 | 1.21 | 6 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 12/31/25 | 18.08 | 0.09 | 4.36 | 4.45 | (0.08)<br>| (2.71)<br>| (2.79)<br>| 19.74 | 24.90 | &nbsp;&nbsp; 2661 | 2.26 | 2.26 | 0.44 | 80 |
| Year ended 12/31/24 | 19.16 | 0.12 | (0.74)<br>| (0.62)<br>| (0.11)<br>| (0.35)<br>| (0.46)<br>| 18.08 | (3.34)<br>| &nbsp;&nbsp; 2426 | 2.35 | 2.44 | 0.61 | 23 |
| Year ended 12/31/23 | 17.22 | 0.38 <br><sup>(d)</sup><br>| 1.88 | 2.26 | (0.30)<br>| (0.02)<br>| (0.32)<br>| 19.16 | 13.21 | &nbsp;&nbsp; 2961 | 2.46 | 2.47 | 2.15 <br><sup>(d)</sup><br>| 11 |
| Year ended 12/31/22 | 20.02 | 0.32 <br><sup>(d)</sup><br>| (2.72)<br>| (2.40)<br>| (0.21)<br>| (0.19)<br>| (0.40)<br>| 17.22 | (11.94)<br>| &nbsp;&nbsp; 2713 | 2.24 | 2.25 | 1.80 <br><sup>(d)</sup><br>| 10 |
| Year ended 12/31/21 | 17.69 | 0.09 | 2.98 | 3.07 | (0.23)<br>| (0.51)<br>| (0.74)<br>| 20.02 | 17.51 | &nbsp;&nbsp; 3472 | 2.22 | 2.22 | 0.46 | 6 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 12/31/25 | 19.23 | 0.32 | 4.66 | 4.98 | (0.30)<br>| (2.71)<br>| (3.01)<br>| 21.20 | 26.22 | &nbsp;&nbsp; 225906 | 1.26 | 1.26 | 1.44 | 80 |
| Year ended 12/31/24 | 20.36 | 0.33 | (0.79)<br>| (0.46)<br>| (0.32)<br>| (0.35)<br>| (0.67)<br>| 19.23 | (2.37)<br>| &nbsp;&nbsp; 114957 | 1.35 | 1.44 | 1.61 | 23 |
| Year ended 12/31/23 | 18.26 | 0.60 <br><sup>(d)</sup><br>| 2.00 | 2.60 | (0.48)<br>| (0.02)<br>| (0.50)<br>| 20.36 | 14.38 | &nbsp;&nbsp; 86064 | 1.46 | 1.47 | 3.15 <br><sup>(d)</sup><br>| 11 |
| Year ended 12/31/22 | 21.21 | 0.52 <br><sup>(d)</sup><br>| (2.88)<br>| (2.36)<br>| (0.40)<br>| (0.19)<br>| (0.59)<br>| 18.26 | (11.08)<br>| &nbsp;&nbsp; 65634 | 1.24 | 1.25 | 2.80 <br><sup>(d)</sup><br>| 10 |
| Year ended 12/31/21 | 18.69 | 0.31 | 3.16 | 3.47 | (0.44)<br>| (0.51)<br>| (0.95)<br>| 21.21 | 18.70 | &nbsp;&nbsp; 37629 | 1.22 | 1.22 | 1.46 | 6 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 12/31/25 | 19.02 | 0.35 | 4.60 | 4.95 | (0.34)<br>| (2.71)<br>| (3.05)<br>| 20.92 | 26.31 | &nbsp;&nbsp; 22712 | 1.11 | 1.11 | 1.59 | 80 |
| Year ended 12/31/24 | 20.14 | 0.37 | (0.78)<br>| (0.41)<br>| (0.36)<br>| (0.35)<br>| (0.71)<br>| 19.02 | (2.13)<br>| &nbsp;&nbsp; 17247 | 1.14 | 1.15 | 1.82 | 23 |
| Year ended 12/31/23 | 18.06 | 0.66 <br><sup>(d)</sup><br>| 1.98 | 2.64 | (0.54)<br>| (0.02)<br>| (0.56)<br>| 20.14 | 14.77 | &nbsp;&nbsp; 20442 | 1.14 | 1.15 | 3.47 <br><sup>(d)</sup><br>| 11 |
| Year ended 12/31/22 | 20.99 | 0.54 <br><sup>(d)</sup><br>| (2.86)<br>| (2.32)<br>| (0.42)<br>| (0.19)<br>| (0.61)<br>| 18.06 | (11.00)<br>| &nbsp;&nbsp; 19913 | 1.12 | 1.13 | 2.92 <br><sup>(d)</sup><br>| 10 |
| Year ended 12/31/21 | 18.51 | 0.32 | 3.13 | 3.45 | (0.46)<br>| (0.51)<br>| (0.97)<br>| 20.99 | 18.78 | &nbsp;&nbsp; 11009 | 1.13 | 1.13 | 1.55 | 6 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 12/31/25 | 19.00 | 0.37 | 4.59 | 4.96 | (0.35)<br>| (2.71)<br>| (3.06)<br>| 20.90 | 26.42 | &nbsp;&nbsp; 258169 | 1.04 | 1.04 | 1.66 | 80 |
| Year ended 12/31/24 | 20.13 | 0.38 | (0.79)<br>| (0.41)<br>| (0.37)<br>| (0.35)<br>| (0.72)<br>| 19.00 | (2.12)<br>| &nbsp;&nbsp; 221658 | 1.07 | 1.08 | 1.89 | 23 |
| Year ended 12/31/23 | 18.05 | 0.67 <br><sup>(d)</sup><br>| 1.99 | 2.66 | (0.56)<br>| (0.02)<br>| (0.58)<br>| 20.13 | 14.85 | &nbsp;&nbsp; 205121 | 1.07 | 1.08 | 3.54 <br><sup>(d)</sup><br>| 11 |
| Year ended 12/31/22 | 20.97 | 0.56 <br><sup>(d)</sup><br>| (2.86)<br>| (2.30)<br>| (0.43)<br>| (0.19)<br>| (0.62)<br>| 18.05 | (10.91)<br>| &nbsp;&nbsp; 150958 | 1.05 | 1.06 | 2.99 <br><sup>(d)</sup><br>| 10 |
| Year ended 12/31/21 | 18.49 | 0.34 | 3.12 | 3.46 | (0.47)<br>| (0.51)<br>| (0.98)<br>| 20.97 | 18.88 | &nbsp;&nbsp; 132901 | 1.06 | 1.06 | 1.62 | 6 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> Net investment income per share and the ratio of net investment income to average net assets includes significant dividends received during the year ended December 31, 2023. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividends are $0.31 and 1.65%, $0.14 and 0.90%, $0.36 and 1.90%, $0.42 and 2.22% and $0.43 and 2.29% for Class A, Class C, Class Y, Class R5 and Class R6 shares, respectively. Net investment income per share and the ratio of net investment income to average net assets include significant dividends received during the year ended December 31, 2022. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividends are $0.38 and 2.03%, $0.22 and 1.28%, $0.42 and 2.28%, $0.44 and 2.40% and $0.46 and 2.47% for Class A, Class C, Class Y, Class R5 and Class R6 shares, respectively. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco International Small Company Fund**

------

**Notes to Financial Statements**

*December 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco International Small Company Fund, formerly Invesco EQV International Small Company Fund, (the "Fund") is a series portfolio of AIM Funds Group (Invesco Funds Group) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital.

The Fund currently consists of five different classes of shares: Class A, Class C, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**8**

**Invesco International Small Company Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Foreign Withholding Taxes –** The Fund is subject to foreign withholding tax imposed by certain foreign countries in which the Fund may invest. Withholding taxes are incurred on certain foreign dividends and are accrued at the time the dividend is recognized based on applicable foreign tax laws. The Fund may file withholding tax refunds in certain jurisdictions to seek to recover a portion of amounts previously withheld. The Fund will record a receivable for such tax refunds based on several factors including; an assessment of a jurisdiction's legal obligation to pay reclaims, administrative practices and payment history. Any receivables recorded will be shown under receivables for *Foreign withholding tax claims* on the Statement of Assets and Liabilities. There is no guarantee that the Fund will receive refunds applied for in a timely manner or at all.

As a result of recent court rulings in certain countries across the European Union, tax refunds for previously withheld taxes on dividends earned in those countries have been received by investment companies. Any tax refund payments are reflected as *Foreign withholding tax claims* in the Statement of Operations, and any related interest is included in *Interest income*. The Fund may incur fees paid to third party providers that assist in the recovery of the tax reclaims. These fees are reflected on the Statement of Operations as *Professional services fees,* if any. In the event tax refunds received by the Fund during the fiscal year exceed the foreign withholding taxes paid by the Fund for the year, and the Fund previously passed foreign tax credits on to its shareholders, the Fund intends to enter into a closing agreement with the Internal Revenue Service in order to pay the associated liability on behalf of the Funds' shareholders. For the year ended December 31, 2025, the Fund did not enter into any closing agreements.

**G.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**H.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**I.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**J.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"),

**9**

**Invesco International Small Company Fund**

------

assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**K.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended December 31, 2025, the Fund paid the Adviser fees for securities lending agent services, which were less than $500. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**L.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**M.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**N.** **Other Risks** – The Fund is non-diversified and may invest in securities of fewer issuers than if it were diversified. Thus, the value of the Fund's shares may vary more widely and the Fund may be subject to greater market and credit risk than if the Fund invested more broadly.

Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S.

**10**

**Invesco International Small Company Fund**

------

dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.935% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.910% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.885% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.860% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.835% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.810% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.785% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.760% |

---

For the year ended December 31, 2025, the effective advisory fee rate incurred by the Fund was 0.92%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has contractually agreed, through April 30, 2026, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class Y, Class R5 and Class R6 shares to 1.55%, 2.30%, 1.30%, 1.30% and 1.30%, respectively, of the Fund's average daily net assets (the "expense limits"). Effective May 1, 2026, the Adviser has contractually agreed, through at least April 30, 2027, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class Y, Class R5 and Class R6 shares to 1.59%, 2.34%, 1.34%, 1.05% and 0.98%, respectively, of the Fund's average daily net assets.In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver agreement, it will terminate on April 30, 2027. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waivers without approval of the Board of Trustees.The Adviser did not waive fees and/or reimburse expenses during the period under these expense limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended December 31, 2025, the Adviser waived advisory fees of $26,556.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A and Class C shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares and 1.00% of the average daily net assets of Class C shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended December 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

**11**

**Invesco International Small Company Fund**

------

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended December 31, 2025, IDI advised the Fund that IDI retained $12,602 in front-end sales commissions from the sale of Class A shares and $2,235 and $0 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended December 31, 2025, the Fund incurred $476 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of December 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $24372105 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $24372105 |
| Austria | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24700858 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24700858 |
| Brazil | &nbsp;&nbsp;&nbsp;&nbsp; 4182097 | &nbsp;&nbsp;&nbsp;&nbsp; 10343873 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14525970 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp; 10227933 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10227933 |
| China | &nbsp;&nbsp;&nbsp;&nbsp; 16949540 | &nbsp;&nbsp;&nbsp;&nbsp; 23620464 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40570004 |
| Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10898759 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10898759 |
| Finland | &nbsp;&nbsp;&nbsp;&nbsp; 8486468 | &nbsp;&nbsp;&nbsp;&nbsp; 16019222 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24505690 |
| France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39328754 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39328754 |
| Georgia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14303945 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14303945 |
| Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53215093 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53215093 |
| India | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34839269 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34839269 |
| Indonesia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13172830 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13172830 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 126761207 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 126761207 |
| Malaysia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9511472 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9511472 |
| Mexico | &nbsp;&nbsp;&nbsp;&nbsp; 12608871 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12608871 |
| Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13843596 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13843596 |
| Poland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3830130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3830130 |
| South Africa | &nbsp;&nbsp;&nbsp;&nbsp; 4467190 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4467190 |
| South Korea | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32472706 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32472706 |
| Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 50622894 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 50622894 |
| Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27523104 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27523104 |
| Tanzania | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15882328 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15882328 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46651351 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46651351 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 16678088 | &nbsp;&nbsp;&nbsp;&nbsp; 21607652 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38285740 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $73600187 | &nbsp;&nbsp;&nbsp;&nbsp; $613521612 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $687121799 |

---

**NOTE 4—Security Transactions with Affiliated Funds**

The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended December 31, 2025, the Fund engaged in securities sales of $2,115,833, which resulted in net realized gains of $129,479.

**12**

**Invesco International Small Company Fund**

------

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended December 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $3,864.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 7—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $8897295 | &nbsp;&nbsp;&nbsp;&nbsp; $8055502 |
| Long-term capital gain | &nbsp;&nbsp; 75471741 | &nbsp;&nbsp;&nbsp;&nbsp; 8766879 |
| Total distributions | &nbsp;&nbsp; $84369036 | &nbsp;&nbsp;&nbsp;&nbsp; $16822381 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; $2470235 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 98438924 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 9597 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (63571)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 565728606 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $666583791 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of December 31, 2025.

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended December 31, 2025 was $524,103,581 and $459,638,914, respectively. As of December 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $125886225 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (27447301)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $98438924 |

---

Cost of investments for tax purposes is $588,682,875.

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies, foreign currency transactions and distributions, on December 31, 2025, undistributed net investment income was increased by $1,164,424 and undistributed net realized gain was decreased by $1,164,424. This reclassification had no effect on the net assets or the distributable earnings of the Fund.

**13**

**Invesco International Small Company Fund**

------

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 883610 | &nbsp;&nbsp;&nbsp; $19691143 | &nbsp;&nbsp;&nbsp; 755203 | &nbsp;&nbsp;&nbsp; $15447423 |
| Class C | &nbsp;&nbsp;&nbsp; 41889 | &nbsp;&nbsp;&nbsp; 866936 | &nbsp;&nbsp;&nbsp; 20208 | &nbsp;&nbsp;&nbsp; 387258 |
| Class Y | &nbsp;&nbsp;&nbsp; 6528802 | &nbsp;&nbsp;&nbsp; 144548468 | &nbsp;&nbsp;&nbsp; 4347762 | &nbsp;&nbsp;&nbsp; 89047164 |
| Class R5 | &nbsp;&nbsp;&nbsp; 239023 | &nbsp;&nbsp;&nbsp; 5160438 | &nbsp;&nbsp;&nbsp; 104516 | &nbsp;&nbsp;&nbsp; 2130691 |
| Class R6 | &nbsp;&nbsp;&nbsp; 2473484 | &nbsp;&nbsp;&nbsp; 54077689 | &nbsp;&nbsp;&nbsp; 3653326 | &nbsp;&nbsp;&nbsp; 74131677 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 850813 | &nbsp;&nbsp;&nbsp; 17637349 | &nbsp;&nbsp;&nbsp; 197535 | &nbsp;&nbsp;&nbsp; 3875644 |
| Class C | &nbsp;&nbsp;&nbsp; 15797 | &nbsp;&nbsp;&nbsp; 305663 | &nbsp;&nbsp;&nbsp; 2876 | &nbsp;&nbsp;&nbsp; 53142 |
| Class Y | &nbsp;&nbsp;&nbsp; 1189089 | &nbsp;&nbsp;&nbsp; 24685491 | &nbsp;&nbsp;&nbsp; 160422 | &nbsp;&nbsp;&nbsp; 3152287 |
| Class R5 | &nbsp;&nbsp;&nbsp; 140493 | &nbsp;&nbsp;&nbsp; 2878713 | &nbsp;&nbsp;&nbsp; 32402 | &nbsp;&nbsp;&nbsp; 629242 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1548441 | &nbsp;&nbsp;&nbsp; 31696593 | &nbsp;&nbsp;&nbsp; 394303 | &nbsp;&nbsp;&nbsp; 7649487 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 37795 | &nbsp;&nbsp;&nbsp; 834913 | &nbsp;&nbsp;&nbsp; 18459 | &nbsp;&nbsp;&nbsp; 378236 |
| Class C | &nbsp;&nbsp;&nbsp; (40290)<br>| &nbsp;&nbsp;&nbsp; (834913)<br>| &nbsp;&nbsp;&nbsp; (19661)<br>| &nbsp;&nbsp;&nbsp; (378236)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (1529508)<br>| &nbsp;&nbsp;&nbsp; (33543188)<br>| &nbsp;&nbsp;&nbsp; (1213267)<br>| &nbsp;&nbsp;&nbsp; (24801849)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (16780)<br>| &nbsp;&nbsp;&nbsp; (351367)<br>| &nbsp;&nbsp;&nbsp; (23754)<br>| &nbsp;&nbsp;&nbsp; (455319)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (3036200)<br>| &nbsp;&nbsp;&nbsp; (67155747)<br>| &nbsp;&nbsp;&nbsp; (2757812)<br>| &nbsp;&nbsp;&nbsp; (56982562)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (200879)<br>| &nbsp;&nbsp;&nbsp; (4325286)<br>| &nbsp;&nbsp;&nbsp; (244786)<br>| &nbsp;&nbsp;&nbsp; (4974647)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (3337436)<br>| &nbsp;&nbsp;&nbsp; (71681059)<br>| &nbsp;&nbsp;&nbsp; (2572892)<br>| &nbsp;&nbsp;&nbsp; (52255773)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 5788143 | &nbsp;&nbsp;&nbsp; $124491836 | &nbsp;&nbsp;&nbsp; 2854840 | &nbsp;&nbsp;&nbsp; $57033865 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 73% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco International Small Company Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Funds Group (Invesco Funds Group) and Shareholders of Invesco International Small Company Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco International Small Company Fund (one of the funds constituting AIM Funds Group (Invesco Funds Group), referred to hereafter as the "Fund") as of December 31, 2025, the related statement of operations for the year ended December 31, 2025, the statement of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2025 and the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

February 19, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco International Small Company Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Federal and State Income Tax** |  |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $75471741 |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 100.00% |  |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |  |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |  |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |  |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |  |
| Foreign Taxes | &nbsp;&nbsp; $0.0134 | &nbsp;&nbsp; per share |
| Foreign Source Income | &nbsp;&nbsp; $0.5735 | &nbsp;&nbsp; per share |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**16**

**Invesco International Small Company Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**17**

**Invesco International Small Company Fund**

------

![](imgde1aaf4e1.jpg)

SEC file number(s): 811-01540 and 002-27334

Invesco Distributors, Inc.

ISC-NCSR

------

![](img7ab86e201.jpg)

------

**Annual Financial Statements and Other Information**

**December 31, 2025**

**Invesco Small Cap Equity Fund**

Nasdaq:

A: SMEAX ■ C: SMECX ■ R: SMERX ■ Y: SMEYX ■ R5: SMEIX ■ R6: SMEFX

------

---

| | |
|:---|:---|
| [2](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_SOI-Continued-62_1) | Schedule of Investments |
| [5](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_FS-Continued-62_1) | Financial Statements |
| [8](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_FS-Continued-62_4) | Financial Highlights |
| [9](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_NTF-Continued-62_1) | Notes to Financial Statements |
| [16](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_ARS-Continued-62_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_TI-Continued-62_1) | Tax Information |
| [18](#xx_bf830af4-fb35-4873-a6ae-bac916cebf3b_OIRSR-Continued-62_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*December 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–97.47%** | **Common Stocks & Other Equity Interests–97.47%** | **Common Stocks & Other Equity Interests–97.47%** |
| **Aerospace & Defense–5.81%** | **Aerospace & Defense–5.81%** | **Aerospace & Defense–5.81%** |
| AeroVironment, Inc.<sup>(b)</sup>  | 59109 | &nbsp;&nbsp; $14297876 |
| ATI, Inc.<sup>(b)</sup>  | 175170 | &nbsp;&nbsp; 20102509 |
| Carpenter Technology Corp. | 36524 | &nbsp;&nbsp; 11499216 |
| Karman Holdings, Inc.<sup>(b)(c)</sup>  | 200122 | &nbsp;&nbsp; 14642927 |
|  |  | &nbsp;&nbsp; 60542528 |
| **Apparel Retail–1.55%** | **Apparel Retail–1.55%** | **Apparel Retail–1.55%** |
| Abercrombie & Fitch Co., Class A<sup>(b)</sup>  | 128160 | &nbsp;&nbsp; 16131499 |
| **Apparel, Accessories & Luxury Goods–0.89%** | **Apparel, Accessories & Luxury Goods–0.89%** | **Apparel, Accessories & Luxury Goods–0.89%** |
| Kontoor Brands, Inc. | 150971 | &nbsp;&nbsp; 9222818 |
| **Application Software–0.93%** | **Application Software–0.93%** | **Application Software–0.93%** |
| AppFolio, Inc., Class A<sup>(b)</sup>  | 41646 | &nbsp;&nbsp; 9688942 |
| **Asset Management & Custody Banks–1.69%** | **Asset Management & Custody Banks–1.69%** | **Asset Management & Custody Banks–1.69%** |
| Galaxy Digital, Inc.<sup>(b)</sup>  | 277273 | &nbsp;&nbsp; 6199824 |
| StepStone Group, Inc., Class A | 176973 | &nbsp;&nbsp; 11356358 |
|  |  | &nbsp;&nbsp; 17556182 |
| **Automotive Parts & Equipment–1.13%** | **Automotive Parts & Equipment–1.13%** | **Automotive Parts & Equipment–1.13%** |
| Patrick Industries, Inc. | 108728 | &nbsp;&nbsp; 11789377 |
| **Biotechnology–4.46%** | **Biotechnology–4.46%** | **Biotechnology–4.46%** |
| ADMA Biologics, Inc.<sup>(b)</sup>  | 559958 | &nbsp;&nbsp; 10213634 |
| Ascendis Pharma A/S, ADR (Denmark)<sup>(b)</sup>  | 56570 | &nbsp;&nbsp; 12062987 |
| BridgeBio Pharma, Inc.<sup>(b)(c)</sup>  | 172981 | &nbsp;&nbsp; 13231316 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup>  | 163546 | &nbsp;&nbsp; 11006646 |
|  |  | &nbsp;&nbsp; 46514583 |
| **Broadline Retail–0.95%** | **Broadline Retail–0.95%** | **Broadline Retail–0.95%** |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(b)</sup>  | 90464 | &nbsp;&nbsp; 9915759 |
| **Building Products–0.53%** | **Building Products–0.53%** | **Building Products–0.53%** |
| Griffon Corp. | 74835 | &nbsp;&nbsp; 5511598 |
| **Cargo Ground Transportation–1.53%** | **Cargo Ground Transportation–1.53%** | **Cargo Ground Transportation–1.53%** |
| XPO, Inc.<sup>(b)(c)</sup>  | 117456 | &nbsp;&nbsp; 15963445 |
| **Coal & Consumable Fuels–0.61%** | **Coal & Consumable Fuels–0.61%** | **Coal & Consumable Fuels–0.61%** |
| NexGen Energy Ltd. (Canada)<sup>(b)</sup>  | 689210 | &nbsp;&nbsp; 6342007 |
| **Commercial & Residential Mortgage Finance–1.72%** | **Commercial & Residential Mortgage Finance–1.72%** | **Commercial & Residential Mortgage Finance–1.72%** |
| PennyMac Financial Services, Inc. | 135811 | &nbsp;&nbsp; 17905322 |
| **Communications Equipment–0.98%** | **Communications Equipment–0.98%** | **Communications Equipment–0.98%** |
| Viavi Solutions, Inc.<sup>(b)</sup>  | 570898 | &nbsp;&nbsp; 10173402 |
| **Construction & Engineering–1.27%** | **Construction & Engineering–1.27%** | **Construction & Engineering–1.27%** |
| IES Holdings, Inc.<sup>(b)</sup>  | 34014 | &nbsp;&nbsp; 13232126 |
| **Consumer Finance–1.14%** | **Consumer Finance–1.14%** | **Consumer Finance–1.14%** |
| Dave, Inc.<sup>(b)</sup>  | 53707 | &nbsp;&nbsp; 11891267 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Data Center REITs–0.36%** | **Data Center REITs–0.36%** | **Data Center REITs–0.36%** |
| Fermi, Inc.<sup>(b)(c)</sup>  | 471643 | &nbsp;&nbsp; $3773144 |
| **Diversified Metals & Mining–1.13%** | **Diversified Metals & Mining–1.13%** | **Diversified Metals & Mining–1.13%** |
| MP Materials Corp.<sup>(b)(c)</sup>  | 234010 | &nbsp;&nbsp; 11822185 |
| **Diversified Support Services–2.09%** | **Diversified Support Services–2.09%** | **Diversified Support Services–2.09%** |
| OPENLANE, Inc.<sup>(b)</sup>  | 369586 | &nbsp;&nbsp; 11006271 |
| VSE Corp.<sup>(c)</sup>  | 62371 | &nbsp;&nbsp; 10775838 |
|  |  | &nbsp;&nbsp; 21782109 |
| **Electronic Components–0.98%** | **Electronic Components–0.98%** | **Electronic Components–0.98%** |
| Littelfuse, Inc. | 40256 | &nbsp;&nbsp; 10181548 |
| **Electronic Equipment & Instruments–1.57%** | **Electronic Equipment & Instruments–1.57%** | **Electronic Equipment & Instruments–1.57%** |
| Advanced Energy Industries, Inc. | 78049 | &nbsp;&nbsp; 16341119 |
| **Electronic Manufacturing Services–4.21%** | **Electronic Manufacturing Services–4.21%** | **Electronic Manufacturing Services–4.21%** |
| Flex Ltd.<sup>(b)</sup>  | 327285 | &nbsp;&nbsp; 19774560 |
| Sanmina Corp.<sup>(b)</sup>  | 160306 | &nbsp;&nbsp; 24057121 |
|  |  | &nbsp;&nbsp; 43831681 |
| **Environmental & Facilities Services–1.48%** | **Environmental & Facilities Services–1.48%** | **Environmental & Facilities Services–1.48%** |
| Casella Waste Systems, Inc., Class A<sup>(b)</sup>  | 157476 | &nbsp;&nbsp; 15423200 |
| **Financial Exchanges & Data–2.03%** | **Financial Exchanges & Data–2.03%** | **Financial Exchanges & Data–2.03%** |
| Bullish (Cayman Islands)<sup>(b)(c)</sup>  | 186821 | &nbsp;&nbsp; 7074911 |
| Miami International Holdings, Inc.<sup>(b)(c)</sup>  | 317289 | &nbsp;&nbsp; 14081286 |
|  |  | &nbsp;&nbsp; 21156197 |
| **Food Distributors–0.96%** | **Food Distributors–0.96%** | **Food Distributors–0.96%** |
| Chefs' Warehouse, Inc. (The)<sup>(b)(c)</sup>  | 159926 | &nbsp;&nbsp; 9968188 |
| **Health Care Equipment–0.78%** | **Health Care Equipment–0.78%** | **Health Care Equipment–0.78%** |
| Inspire Medical Systems, Inc.<sup>(b)(c)</sup>  | 88206 | &nbsp;&nbsp; 8135239 |
| **Health Care Facilities–1.48%** | **Health Care Facilities–1.48%** | **Health Care Facilities–1.48%** |
| Encompass Health Corp. | 145519 | &nbsp;&nbsp; 15445387 |
| **Health Care Services–4.59%** | **Health Care Services–4.59%** | **Health Care Services–4.59%** |
| BrightSpring Health Services, Inc.<sup>(b)(c)</sup>  | 663922 | &nbsp;&nbsp; 24863879 |
| Guardant Health, Inc.<sup>(b)</sup>  | 224830 | &nbsp;&nbsp; 22964136 |
|  |  | &nbsp;&nbsp; 47828015 |
| **Homebuilding–0.94%** | **Homebuilding–0.94%** | **Homebuilding–0.94%** |
| M/I Homes, Inc.<sup>(b)</sup>  | 76526 | &nbsp;&nbsp; 9791502 |
| **Hotels, Resorts & Cruise Lines–1.68%** | **Hotels, Resorts & Cruise Lines–1.68%** | **Hotels, Resorts & Cruise Lines–1.68%** |
| Travel + Leisure Co. | 248172 | &nbsp;&nbsp; 17503571 |
| **Household Products–0.74%** | **Household Products–0.74%** | **Household Products–0.74%** |
| WD-40 Co.<sup>(c)</sup>  | 38956 | &nbsp;&nbsp; 7670436 |
| **Independent Power Producers & Energy Traders–1.85%** | **Independent Power Producers & Energy Traders–1.85%** | **Independent Power Producers & Energy Traders–1.85%** |
| Talen Energy Corp.<sup>(b)</sup>  | 51501 | &nbsp;&nbsp; 19304635 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Small Cap Equity Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Industrial Machinery & Supplies & Components–4.92%** | **Industrial Machinery & Supplies & Components–4.92%** | **Industrial Machinery & Supplies & Components–4.92%** |
| Crane Co. | 58402 | &nbsp;&nbsp; $10771081 |
| Gates Industrial Corp. PLC<sup>(b)</sup>  | 446690 | &nbsp;&nbsp; 9590434 |
| ITT, Inc. | 120180 | &nbsp;&nbsp; 20852431 |
| SPX Technologies, Inc.<sup>(b)</sup>  | 50187 | &nbsp;&nbsp; 10040411 |
|  |  | &nbsp;&nbsp; 51254357 |
| **Industrial REITs–2.01%** | **Industrial REITs–2.01%** | **Industrial REITs–2.01%** |
| EastGroup Properties, Inc. | 63280 | &nbsp;&nbsp; 11272699 |
| STAG Industrial, Inc. | 263834 | &nbsp;&nbsp; 9698538 |
|  |  | &nbsp;&nbsp; 20971237 |
| **Investment Banking & Brokerage–5.36%** | **Investment Banking & Brokerage–5.36%** | **Investment Banking & Brokerage–5.36%** |
| Piper Sandler Cos. | 70155 | &nbsp;&nbsp; 23832355 |
| Stifel Financial Corp. | 160701 | &nbsp;&nbsp; 20122980 |
| Virtu Financial, Inc., Class A | 358085 | &nbsp;&nbsp; 11931392 |
|  |  | &nbsp;&nbsp; 55886727 |
| **Leisure Products–1.08%** | **Leisure Products–1.08%** | **Leisure Products–1.08%** |
| Acushnet Holdings Corp.<sup>(c)</sup>  | 141576 | &nbsp;&nbsp; 11300596 |
| **Life Sciences Tools & Services–3.21%** | **Life Sciences Tools & Services–3.21%** | **Life Sciences Tools & Services–3.21%** |
| ICON PLC<sup>(b)</sup>  | 62661 | &nbsp;&nbsp; 11418087 |
| Repligen Corp.<sup>(b)</sup>  | 72870 | &nbsp;&nbsp; 11940478 |
| Stevanato Group S.p.A. (Italy) | 503181 | &nbsp;&nbsp; 10124002 |
|  |  | &nbsp;&nbsp; 33482567 |
| **Oil & Gas Exploration & Production–1.05%** | **Oil & Gas Exploration & Production–1.05%** | **Oil & Gas Exploration & Production–1.05%** |
| Range Resources Corp. | 310056 | &nbsp;&nbsp; 10932575 |
| **Oil & Gas Storage & Transportation–1.08%** | **Oil & Gas Storage & Transportation–1.08%** | **Oil & Gas Storage & Transportation–1.08%** |
| DT Midstream, Inc.<sup>(b)(c)</sup>  | 94216 | &nbsp;&nbsp; 11275771 |
| **Pharmaceuticals–1.72%** | **Pharmaceuticals–1.72%** | **Pharmaceuticals–1.72%** |
| Axsome Therapeutics, Inc.<sup>(b)</sup>  | 59915 | &nbsp;&nbsp; 10942876 |
| Prestige Consumer Healthcare, Inc.<sup>(b)(c)</sup>  | 113082 | &nbsp;&nbsp; 6976028 |
|  |  | &nbsp;&nbsp; 17918904 |
| **Property & Casualty Insurance–1.10%** | **Property & Casualty Insurance–1.10%** | **Property & Casualty Insurance–1.10%** |
| Skyward Specialty Insurance Group, Inc.<sup>(b)</sup>  | 224993 | &nbsp;&nbsp; 11499392 |
| **Real Estate Services–1.09%** | **Real Estate Services–1.09%** | **Real Estate Services–1.09%** |
| Newmark Group, Inc., Class A | 656642 | &nbsp;&nbsp; 11386172 |
| **Regional Banks–7.38%** | **Regional Banks–7.38%** | **Regional Banks–7.38%** |
| Banc of California, Inc. | 1027311 | &nbsp;&nbsp; 19816829 |
| Bancorp, Inc. (The)<sup>(b)(c)</sup>  | 337691 | &nbsp;&nbsp; 22800896 |
| SouthState Bank Corp.<sup>(c)</sup>  | 168997 | &nbsp;&nbsp; 15904308 |
| Western Alliance Bancorporation | 218288 | &nbsp;&nbsp; 18351472 |
|  |  | &nbsp;&nbsp; 76873505 |
| **Research & Consulting Services–1.57%** | **Research & Consulting Services–1.57%** | **Research & Consulting Services–1.57%** |
| Huron Consulting Group, Inc.<sup>(b)</sup>  | 94318 | &nbsp;&nbsp; 16308525 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Restaurants–0.98%** | **Restaurants–0.98%** | **Restaurants–0.98%** | **Restaurants–0.98%** |
| Cheesecake Factory, Inc. (The)<sup>(c)</sup>  | Cheesecake Factory, Inc. (The)<sup>(c)</sup>  | 201898 | &nbsp;&nbsp; $10191811 |
| **Semiconductor Materials & Equipment–1.80%** | **Semiconductor Materials & Equipment–1.80%** | **Semiconductor Materials & Equipment–1.80%** | **Semiconductor Materials & Equipment–1.80%** |
| MKS, Inc. | MKS, Inc. | 117342 | &nbsp;&nbsp; 18751252 |
| **Semiconductors–5.83%** | **Semiconductors–5.83%** | **Semiconductors–5.83%** | **Semiconductors–5.83%** |
| Impinj, Inc.<sup>(b)(c)</sup>  | Impinj, Inc.<sup>(b)(c)</sup>  | 96529 | &nbsp;&nbsp; 16797011 |
| MACOM Technology Solutions Holdings, <br> Inc.<sup>(b)</sup>  | MACOM Technology Solutions Holdings, <br> Inc.<sup>(b)</sup>  | 136845 | &nbsp;&nbsp; 23438812 |
| Rambus, Inc.<sup>(b)</sup>  | Rambus, Inc.<sup>(b)</sup>  | 106842 | &nbsp;&nbsp; 9817712 |
| Silicon Laboratories, Inc.<sup>(b)</sup>  | Silicon Laboratories, Inc.<sup>(b)</sup>  | 82049 | &nbsp;&nbsp; 10723804 |
|  |  |  | &nbsp;&nbsp; 60777339 |
| **Specialized Consumer Services–1.18%** | **Specialized Consumer Services–1.18%** | **Specialized Consumer Services–1.18%** | **Specialized Consumer Services–1.18%** |
| Frontdoor, Inc.<sup>(b)</sup>  | Frontdoor, Inc.<sup>(b)</sup>  | 213585 | &nbsp;&nbsp; 12321719 |
| **Specialty Chemicals–1.07%** | **Specialty Chemicals–1.07%** | **Specialty Chemicals–1.07%** | **Specialty Chemicals–1.07%** |
| Perimeter Solutions, Inc.<sup>(b)</sup>  | Perimeter Solutions, Inc.<sup>(b)</sup>  | 403660 | &nbsp;&nbsp; 11112760 |
| **Trading Companies & Distributors–2.98%** | **Trading Companies & Distributors–2.98%** | **Trading Companies & Distributors–2.98%** | **Trading Companies & Distributors–2.98%** |
| Applied Industrial Technologies, Inc. | Applied Industrial Technologies, Inc. | 69654 | &nbsp;&nbsp; 17885058 |
| WESCO International, Inc.<sup>(c)</sup>  | WESCO International, Inc.<sup>(c)</sup>  | 53803 | &nbsp;&nbsp; 13162366 |
|  |  |  | &nbsp;&nbsp; 31047424 |
| Total Common Stocks & Other Equity Interests <br> (Cost $743,833,807) | Total Common Stocks & Other Equity Interests <br> (Cost $743,833,807) | Total Common Stocks & Other Equity Interests <br> (Cost $743,833,807) | &nbsp;&nbsp; 1015631644 |
| **Money Market Funds–2.71%** | **Money Market Funds–2.71%** | **Money Market Funds–2.71%** | **Money Market Funds–2.71%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.68%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.68%<sup>(d)(e)</sup>  | 9862513 | &nbsp;&nbsp; 9862513 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.64%<sup>(d)(e)</sup>  | 18316600 | &nbsp;&nbsp; 18316600 |
| Total Money Market Funds (Cost $28,179,113) | Total Money Market Funds (Cost $28,179,113) | Total Money Market Funds (Cost $28,179,113) | &nbsp;&nbsp; 28179113 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from securities <br> on loan)-100.18% <br> (Cost $772,012,920)<br>|  |  | &nbsp;&nbsp; 1043810757 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–11.41%** | **Money Market Funds–11.41%** | **Money Market Funds–11.41%** | **Money Market Funds–11.41%** |
| Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 3.74%<sup>(d)(e)(f)</sup>  | 26897806 | &nbsp;&nbsp; 26897806 |
| Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 3.88%<sup>(d)(e)(f)</sup>  | 92004830 | &nbsp;&nbsp; 92032432 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $118,930,238) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $118,930,238) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $118,930,238) | &nbsp;&nbsp; 118930238 |
| TOTAL INVESTMENTS IN SECURITIES–111.59% <br> (Cost $890,943,158) | TOTAL INVESTMENTS IN SECURITIES–111.59% <br> (Cost $890,943,158) | TOTAL INVESTMENTS IN SECURITIES–111.59% <br> (Cost $890,943,158) | &nbsp;&nbsp; 1162740995 |
| OTHER ASSETS LESS LIABILITIES—(11.59)% | OTHER ASSETS LESS LIABILITIES—(11.59)% | OTHER ASSETS LESS LIABILITIES—(11.59)% | &nbsp;&nbsp; (120727054)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $1042013941 |

---

Investment Abbreviations:

ADR – American Depositary Receipt <br> REIT – Real Estate Investment Trust

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Small Cap Equity Fund**

------

Notes to Schedule of Investments:

<sup>(a)</sup> Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at December 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended December 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**December 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $2938480 | &nbsp;&nbsp; $90776402 | &nbsp;&nbsp; $(83852369) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $9862513 | &nbsp;&nbsp; $521360 |
| Invesco Treasury Portfolio, Institutional <br> Class<br>| 5457684 | &nbsp;&nbsp; 168584747 | &nbsp;&nbsp; (155725831) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 18316600 | &nbsp;&nbsp; 958649 |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 45974826 | &nbsp;&nbsp; 342751886 | &nbsp;&nbsp; (361828906) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 26897806 | &nbsp;&nbsp; 1,606,176\* |
| Invesco Private Prime Fund | 119841333 | &nbsp;&nbsp; 753527511 | &nbsp;&nbsp; (781337627) | &nbsp;&nbsp; - | &nbsp;&nbsp; 1215 | &nbsp;&nbsp; 92032432 | &nbsp;&nbsp; 4,322,575\* |
| Total | $174212323 | &nbsp;&nbsp; $1355640546 | &nbsp;&nbsp; $(1382744733) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1215 | &nbsp;&nbsp; $147109351 | &nbsp;&nbsp; $7408760 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of December 31, 2025.

<sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 1J. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Small Cap Equity Fund**

------

**Statement of Assets and Liabilities**

*December 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $743,833,807)\*<br>| &nbsp;&nbsp; $1015631644 |
| Investments in affiliated money market funds, at value <br> (Cost $147,109,351)<br>| &nbsp;&nbsp; 147109351 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 496991 |
| Dividends | &nbsp;&nbsp; 497547 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 166900 |
| Other assets | &nbsp;&nbsp; 53002 |
| Total assets | &nbsp;&nbsp; 1163955435 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 1985504 |
| Amount due custodian | &nbsp;&nbsp; 282734 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 118930238 |
| Accrued fees to affiliates | &nbsp;&nbsp; 481110 |
| Accrued other operating expenses | &nbsp;&nbsp; 89407 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 172501 |
| Total liabilities | &nbsp;&nbsp; 121941494 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $1042013941 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $752182400 |
| Distributable earnings | &nbsp;&nbsp; 289831541 |
|  | &nbsp;&nbsp; $1042013941 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $594808388 |
| Class C | &nbsp;&nbsp; $11382882 |
| Class R | &nbsp;&nbsp; $59825941 |
| Class Y | &nbsp;&nbsp; $99005137 |
| Class R5 | &nbsp;&nbsp; $14245338 |
| Class R6 | &nbsp;&nbsp; $262746255 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 41304581 |
| Class C | &nbsp;&nbsp; 1457384 |
| Class R | &nbsp;&nbsp; 4866351 |
| Class Y | &nbsp;&nbsp; 6271500 |
| Class R5 | &nbsp;&nbsp; 792087 |
| Class R6 | &nbsp;&nbsp; 14360459 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $14.40 |
| Maximum offering price per share <br>(Net asset value of $14.40 ÷ 94.50%)<br>| &nbsp;&nbsp; $15.24 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.81 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $12.29 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $15.79 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.98 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $18.30 |

---

\* At December 31, 2025, securities with an aggregate value of $113,065,732 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Small Cap Equity Fund**

------

**Statement of Operations**

*For the year ended December 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $17,014) | &nbsp;&nbsp; $7382059 |
| Dividends from affiliated money market funds (includes net securities lending income of $323,031) | &nbsp;&nbsp; 1803040 |
| Total investment income | &nbsp;&nbsp; 9185099 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 7273871 |
| Administrative services fees | &nbsp;&nbsp; 142619 |
| Custodian fees | &nbsp;&nbsp; 12489 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1486499 |
| Class C | &nbsp;&nbsp; 116613 |
| Class R | &nbsp;&nbsp; 291719 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 1383883 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 15316 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 71140 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 29116 |
| Registration and filing fees | &nbsp;&nbsp; 110685 |
| Reports to shareholders | &nbsp;&nbsp; 125304 |
| Professional services fees | &nbsp;&nbsp; 62019 |
| Other | &nbsp;&nbsp; 20887 |
| Total expenses | &nbsp;&nbsp; 11142160 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (62280)<br>|
| Net expenses | &nbsp;&nbsp; 11079880 |
| Net investment income (loss) | &nbsp;&nbsp; (1894781)<br>|
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 91726166 |
| Affiliated investment securities | &nbsp;&nbsp; 1215 |
| Foreign currencies | &nbsp;&nbsp; 1268 |
|  | &nbsp;&nbsp; 91728649 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (12075781)<br>|
| Foreign currencies | &nbsp;&nbsp; 4 |
|  | &nbsp;&nbsp; (12075777)<br>|
| Net realized and unrealized gain | &nbsp;&nbsp; 79652872 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $77758091 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Small Cap Equity Fund**

------

**Statement of Changes in Net Assets**

*For the years ended December 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income (loss) | &nbsp;&nbsp; $(1894781)<br>| &nbsp;&nbsp; $(1231464)<br>|
| Net realized gain | &nbsp;&nbsp; 91728649 | &nbsp;&nbsp; 43179406 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (12075777)<br>| &nbsp;&nbsp; 111600557 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 77758091 | &nbsp;&nbsp; 153548499 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (51411770)<br>| &nbsp;&nbsp; (45566320)<br>|
| Class C | &nbsp;&nbsp; (1716634)<br>| &nbsp;&nbsp; (1471600)<br>|
| Class R | &nbsp;&nbsp; (5871936)<br>| &nbsp;&nbsp; (5012434)<br>|
| Class Y | &nbsp;&nbsp; (7789949)<br>| &nbsp;&nbsp; (5297780)<br>|
| Class R5 | &nbsp;&nbsp; (989789)<br>| &nbsp;&nbsp; (1225045)<br>|
| Class R6 | &nbsp;&nbsp; (18074411)<br>| &nbsp;&nbsp; (13265050)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (85854489)<br>| &nbsp;&nbsp; (71838229)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (1387427)<br>| &nbsp;&nbsp; 5100091 |
| Class C | &nbsp;&nbsp; 304421 | &nbsp;&nbsp; (368716)<br>|
| Class R | &nbsp;&nbsp; 2760896 | &nbsp;&nbsp; 913748 |
| Class Y | &nbsp;&nbsp; 27064677 | &nbsp;&nbsp; 2167741 |
| Class R5 | &nbsp;&nbsp; (5410632)<br>| &nbsp;&nbsp; (7169934)<br>|
| Class R6 | &nbsp;&nbsp; 42517860 | &nbsp;&nbsp; 15297918 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 65849795 | &nbsp;&nbsp; 15940848 |
| Net increase in net assets | &nbsp;&nbsp; 57753397 | &nbsp;&nbsp; 97651118 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 984260544 | &nbsp;&nbsp; 886609426 |
| End of year | &nbsp;&nbsp; $1042013941 | &nbsp;&nbsp; $984260544 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Small Cap Equity Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 12/31/25 | $14.61 | $(0.04)<br>| $1.18 | $1.14 | $— | $(1.35)<br>| $(1.35)<br>| $14.40 | 7.78<br> %<br>| &nbsp;&nbsp; $594808 | 1.21<br> %<br>| 1.21<br> %<br>| (0.29)%<br>| 60<br> %<br>|
| Year ended 12/31/24 | 13.35 | (0.03)<br>| 2.47 | 2.44 |  | (1.18)<br>| (1.18)<br>| 14.61 | 17.79 | &nbsp;&nbsp; 602644 | 1.27 | 1.27 | (0.24)<br>| 50 |
| Year ended 12/31/23 | 11.56 | (0.02)<br>| 1.86 | 1.84 |  | (0.05)<br>| (0.05)<br>| 13.35 | 15.96 | &nbsp;&nbsp; 548978 | 1.26 | 1.26 | (0.15)<br>| 43 |
| Year ended 12/31/22 | 14.99 | (0.02)<br>| (3.07)<br>| (3.09)<br>|  | (0.34)<br>| (0.34)<br>| 11.56 | (20.60)<br>| &nbsp;&nbsp; 506506 | 1.26 | 1.26 | (0.17)<br>| 33 |
| Year ended 12/31/21 | 14.97 | (0.04)<br>| 2.91 | 2.87 |  | (2.85)<br>| (2.85)<br>| 14.99 | 20.02 | &nbsp;&nbsp; 660296 | 1.22 | 1.22 | (0.22)<br>| 22 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 12/31/25 | 8.56 | (0.09)<br>| 0.69 | 0.60 |  | (1.35)<br>| (1.35)<br>| 7.81 | 6.98 | &nbsp;&nbsp; 11383 | 1.96 | 1.96 | (1.04)<br>| 60 |
| Year ended 12/31/24 | 8.28 | (0.09)<br>| 1.55 | 1.46 |  | (1.18)<br>| (1.18)<br>| 8.56 | 16.84 | &nbsp;&nbsp; 12007 | 2.02 | 2.02 | (0.99)<br>| 50 |
| Year ended 12/31/23 | 7.23 | (0.07)<br>| 1.17 | 1.10 |  | (0.05)<br>| (0.05)<br>| 8.28 | 15.28 | &nbsp;&nbsp; 11982 | 2.01 | 2.01 | (0.90)<br>| 43 |
| Year ended 12/31/22 | 9.61 | (0.07)<br>| (1.97)<br>| (2.04)<br>|  | (0.34)<br>| (0.34)<br>| 7.23 | (21.20)<br>| &nbsp;&nbsp; 12069 | 2.01 | 2.01 | (0.92)<br>| 33 |
| Year ended 12/31/21 | 10.57 | (0.12)<br>| 2.01 | 1.89 |  | (2.85)<br>| (2.85)<br>| 9.61 | 19.06 | &nbsp;&nbsp; 17784 | 1.97 | 1.97 | (0.97)<br>| 22 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 12/31/25 | 12.68 | (0.07)<br>| 1.03 | 0.96 |  | (1.35)<br>| (1.35)<br>| 12.29 | 7.54 | &nbsp;&nbsp; 59826 | 1.46 | 1.46 | (0.54)<br>| 60 |
| Year ended 12/31/24 | 11.75 | (0.06)<br>| 2.17 | 2.11 |  | (1.18)<br>| (1.18)<br>| 12.68 | 17.40 | &nbsp;&nbsp; 58764 | 1.52 | 1.52 | (0.49)<br>| 50 |
| Year ended 12/31/23 | 10.20 | (0.04)<br>| 1.64 | 1.60 |  | (0.05)<br>| (0.05)<br>| 11.75 | 15.73 | &nbsp;&nbsp; 53783 | 1.51 | 1.51 | (0.40)<br>| 43 |
| Year ended 12/31/22 | 13.31 | (0.05)<br>| (2.72)<br>| (2.77)<br>|  | (0.34)<br>| (0.34)<br>| 10.20 | (20.79)<br>| &nbsp;&nbsp; 46851 | 1.51 | 1.51 | (0.42)<br>| 33 |
| Year ended 12/31/21 | 13.61 | (0.07)<br>| 2.62 | 2.55 |  | (2.85)<br>| (2.85)<br>| 13.31 | 19.66 | &nbsp;&nbsp; 51571 | 1.47 | 1.47 | (0.47)<br>| 22 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 12/31/25 | 15.85 | (0.01)<br>| 1.30 | 1.29 |  | (1.35)<br>| (1.35)<br>| 15.79 | 8.12 | &nbsp;&nbsp; 99005 | 0.96 | 0.96 | (0.04)<br>| 60 |
| Year ended 12/31/24 | 14.37 | 0.00 | 2.66 | 2.66 |  | (1.18)<br>| (1.18)<br>| 15.85 | 18.06 | &nbsp;&nbsp; 72960 | 1.02 | 1.02 | 0.01 | 50 |
| Year ended 12/31/23 | 12.41 | 0.01 | 2.00 | 2.01 |  | (0.05)<br>| (0.05)<br>| 14.37 | 16.23 | &nbsp;&nbsp; 64657 | 1.01 | 1.01 | 0.10 | 43 |
| Year ended 12/31/22 | 16.02 | 0.01 | (3.28)<br>| (3.27)<br>|  | (0.34)<br>| (0.34)<br>| 12.41 | (20.40)<br>| &nbsp;&nbsp; 59796 | 1.01 | 1.01 | 0.08 | 33 |
| Year ended 12/31/21 | 15.80 | 0.01 | 3.07 | 3.08 | (0.01)<br>| (2.85)<br>| (2.86)<br>| 16.02 | 20.27 | &nbsp;&nbsp; 91380 | 0.97 | 0.97 | 0.03 | 22 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 12/31/25 | 17.87 | 0.01 | 1.45 | 1.46 |  | (1.35)<br>| (1.35)<br>| 17.98 | 8.15 | &nbsp;&nbsp; 14245 | 0.88 | 0.88 | 0.04 | 60 |
| Year ended 12/31/24 | 16.07 | 0.02 | 2.96 | 2.98 |  | (1.18)<br>| (1.18)<br>| 17.87 | 18.14 | &nbsp;&nbsp; 19658 | 0.90 | 0.90 | 0.13 | 50 |
| Year ended 12/31/23 | 13.84 | 0.03 | 2.25 | 2.28 |  | (0.05)<br>| (0.05)<br>| 16.07 | 16.51 | &nbsp;&nbsp; 24448 | 0.89 | 0.89 | 0.22 | 43 |
| Year ended 12/31/22 | 17.80 | 0.03 | (3.65)<br>| (3.62)<br>|  | (0.34)<br>| (0.34)<br>| 13.84 | (20.32)<br>| &nbsp;&nbsp; 21181 | 0.87 | 0.87 | 0.22 | 33 |
| Year ended 12/31/21 | 17.28 | 0.03 | 3.36 | 3.39 | (0.02)<br>| (2.85)<br>| (2.87)<br>| 17.80 | 20.39 | &nbsp;&nbsp; 27506 | 0.85 | 0.85 | 0.15 | 22 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 12/31/25 | 18.14 | 0.02 | 1.49 | 1.51 |  | (1.35)<br>| (1.35)<br>| 18.30 | 8.31 | &nbsp;&nbsp; 262746 | 0.81 | 0.81 | 0.11 | 60 |
| Year ended 12/31/24 | 16.29 | 0.04 | 2.99 | 3.03 |  | (1.18)<br>| (1.18)<br>| 18.14 | 18.20 | &nbsp;&nbsp; 218227 | 0.83 | 0.83 | 0.20 | 50 |
| Year ended 12/31/23 | 14.03 | 0.04 | 2.27 | 2.31 |  | (0.05)<br>| (0.05)<br>| 16.29 | 16.50 | &nbsp;&nbsp; 182761 | 0.82 | 0.82 | 0.29 | 43 |
| Year ended 12/31/22 | 18.01 | 0.04 | (3.68)<br>| (3.64)<br>|  | (0.34)<br>| (0.34)<br>| 14.03 | (20.20)<br>| &nbsp;&nbsp; 209508 | 0.80 | 0.80 | 0.29 | 33 |
| Year ended 12/31/21 | 17.45 | 0.04 | 3.40 | 3.44 | (0.03)<br>| (2.85)<br>| (2.88)<br>| 18.01 | 20.46 | &nbsp;&nbsp; 316542 | 0.79 | 0.79 | 0.21 | 22 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Small Cap Equity Fund**

------

**Notes to Financial Statements**

*December 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Small Cap Equity Fund (the "Fund") is a series portfolio of AIM Funds Group (Invesco Funds Group) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's primary investment objective is long-term growth of capital.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

**9**

**Invesco Small Cap Equity Fund**

------

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

The Fund recharacterizes distributions received from REIT investments based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available on a timely basis from the REIT, the recharacterization will be based on available information which may include the previous year's allocation. If new or additional information becomes available from the REIT at a later date, a recharacterization will be made in the following year. The Fund records as dividend income the amount recharacterized as ordinary income and as realized gain the amount recharacterized as capital gain in the Statement of Operations, and the amount recharacterized as return of capital as a reduction of the cost of the related investment. These recharacterizations are reflected in the accompanying financial statements.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**10**

**Invesco Small Cap Equity Fund**

------

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended December 31, 2025, the Fund paid the Adviser $22,468 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

**11**

**Invesco Small Cap Equity Fund**

------

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.745% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.730% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.715% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.700% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.685% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.670% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.655% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.640% |

---

For the year ended December 31, 2025, the effective advisory fee rate incurred by the Fund was 0.73%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended December 31, 2025, the Adviser waived advisory fees of $40,539.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

**12**

**Invesco Small Cap Equity Fund**

------

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended December 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended December 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended December 31, 2025, IDI advised the Fund that IDI retained $83,446 in front-end sales commissions from the sale of Class A shares and $2,628 and $260 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended December 31, 2025, the Fund incurred $34,381 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of December 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $1015631644 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1015631644 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 28179113 | &nbsp;&nbsp;&nbsp;&nbsp; 118930238 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 147109351 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $1043810757 | &nbsp;&nbsp;&nbsp;&nbsp; $118930238 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1162740995 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended December 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $21,741.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts

**13**

**Invesco Small Cap Equity Fund**

------

accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended December 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Long-term capital gain | &nbsp;&nbsp; $85854489 | &nbsp;&nbsp;&nbsp;&nbsp; $71838229 |

---

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; $19067029 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 270856228 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (91716)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 752182400 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $1042013941 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to passive foreign investment companies.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of December 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended December 31, 2025 was $586,248,121 and $626,096,130, respectively. As of December 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $305043774 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (34187546)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $270856228 |

---

Cost of investments for tax purposes is $891,884,767.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of net operating losses, on December 31, 2025, undistributed net investment income (loss) was increased by $1,017,312, undistributed net realized gain was decreased by $1,320 and shares of beneficial interest was decreased by $1,015,992. This reclassification had no effect on the net assets of the Fund.

**14**

**Invesco Small Cap Equity Fund**

------

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 3259397 | &nbsp;&nbsp;&nbsp; $48255180 | &nbsp;&nbsp;&nbsp; 3487139 | &nbsp;&nbsp;&nbsp; $50744107 |
| Class C | &nbsp;&nbsp;&nbsp; 275182 | &nbsp;&nbsp;&nbsp; 2389733 | &nbsp;&nbsp;&nbsp; 287009 | &nbsp;&nbsp;&nbsp; 2583382 |
| Class R | &nbsp;&nbsp;&nbsp; 1137251 | &nbsp;&nbsp;&nbsp; 14528040 | &nbsp;&nbsp;&nbsp; 961916 | &nbsp;&nbsp;&nbsp; 12361701 |
| Class Y | &nbsp;&nbsp;&nbsp; 2290292 | &nbsp;&nbsp;&nbsp; 37430223 | &nbsp;&nbsp;&nbsp; 1090001 | &nbsp;&nbsp;&nbsp; 17234053 |
| Class R5 | &nbsp;&nbsp;&nbsp; 92237 | &nbsp;&nbsp;&nbsp; 1665722 | &nbsp;&nbsp;&nbsp; 144109 | &nbsp;&nbsp;&nbsp; 2473415 |
| Class R6 | &nbsp;&nbsp;&nbsp; 4354423 | &nbsp;&nbsp;&nbsp; 80599858 | &nbsp;&nbsp;&nbsp; 2820334 | &nbsp;&nbsp;&nbsp; 50144340 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 3388956 | &nbsp;&nbsp;&nbsp; 48733163 | &nbsp;&nbsp;&nbsp; 2802097 | &nbsp;&nbsp;&nbsp; 43404479 |
| Class C | &nbsp;&nbsp;&nbsp; 215062 | &nbsp;&nbsp;&nbsp; 1677483 | &nbsp;&nbsp;&nbsp; 158098 | &nbsp;&nbsp;&nbsp; 1435528 |
| Class R | &nbsp;&nbsp;&nbsp; 478051 | &nbsp;&nbsp;&nbsp; 5870470 | &nbsp;&nbsp;&nbsp; 372592 | &nbsp;&nbsp;&nbsp; 5011356 |
| Class Y | &nbsp;&nbsp;&nbsp; 443673 | &nbsp;&nbsp;&nbsp; 6996729 | &nbsp;&nbsp;&nbsp; 276762 | &nbsp;&nbsp;&nbsp; 4652368 |
| Class R5 | &nbsp;&nbsp;&nbsp; 55111 | &nbsp;&nbsp;&nbsp; 989789 | &nbsp;&nbsp;&nbsp; 64646 | &nbsp;&nbsp;&nbsp; 1225045 |
| Class R6 | &nbsp;&nbsp;&nbsp; 957902 | &nbsp;&nbsp;&nbsp; 17500860 | &nbsp;&nbsp;&nbsp; 668559 | &nbsp;&nbsp;&nbsp; 12863073 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 114596 | &nbsp;&nbsp;&nbsp; 1710387 | &nbsp;&nbsp;&nbsp; 110477 | &nbsp;&nbsp;&nbsp; 1619561 |
| Class C | &nbsp;&nbsp;&nbsp; (197889)<br>| &nbsp;&nbsp;&nbsp; (1710387)<br>| &nbsp;&nbsp;&nbsp; (180035)<br>| &nbsp;&nbsp;&nbsp; (1619561)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (6721203)<br>| &nbsp;&nbsp;&nbsp; (100086157)<br>| &nbsp;&nbsp;&nbsp; (6253322)<br>| &nbsp;&nbsp;&nbsp; (90668056)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (238207)<br>| &nbsp;&nbsp;&nbsp; (2052408)<br>| &nbsp;&nbsp;&nbsp; (309785)<br>| &nbsp;&nbsp;&nbsp; (2768065)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1382611)<br>| &nbsp;&nbsp;&nbsp; (17637614)<br>| &nbsp;&nbsp;&nbsp; (1279017)<br>| &nbsp;&nbsp;&nbsp; (16459309)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (1065518)<br>| &nbsp;&nbsp;&nbsp; (17362275)<br>| &nbsp;&nbsp;&nbsp; (1262095)<br>| &nbsp;&nbsp;&nbsp; (19718680)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (455352)<br>| &nbsp;&nbsp;&nbsp; (8066143)<br>| &nbsp;&nbsp;&nbsp; (630464)<br>| &nbsp;&nbsp;&nbsp; (10868394)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (2978771)<br>| &nbsp;&nbsp;&nbsp; (55582858)<br>| &nbsp;&nbsp;&nbsp; (2682836)<br>| &nbsp;&nbsp;&nbsp; (47709495)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 4022582 | &nbsp;&nbsp;&nbsp; $65849795 | &nbsp;&nbsp;&nbsp; 646185 | &nbsp;&nbsp;&nbsp; $15940848 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 54% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**Invesco Small Cap Equity Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Funds Group (Invesco Funds Group) and Shareholders of Invesco Small Cap Equity Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Small Cap Equity Fund (one of the funds constituting AIM Funds Group (Invesco Funds Group), referred to hereafter as the "Fund") as of December 31, 2025, the related statement of operations for the year ended December 31, 2025, the statement of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2025 and the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

February 19, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**Invesco Small Cap Equity Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended December 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $85854489 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**17**

**Invesco Small Cap Equity Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**18**

**Invesco Small Cap Equity Fund**

------

![](img7ab86e201.jpg)

SEC file number(s): 811-01540 and 002-27334

Invesco Distributors, Inc.

SCE-NCSR

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

This information is filed under Item 7 of this Form N-CSR.

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

------

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

------

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

------

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

------

Item 15. Submission of Matters to a Vote of Security Holders.

None.

------

Item 16. Controls and Procedures.

(a) As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the PEO and PFO, to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Act. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

(b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

------

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

------

Item 19. Exhibits.

[(a)(1) Code of Ethics is attached as Exhibit 99.CODEETH.](Code_of_Ethics.htm)

(a)(2) Not applicable.

[(a)(3) Certifications of the Registrant's PEO and PFO pursuant to Rule 30a-2(a) under the Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.CERT.](Section_302_Certification.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Certifications of Registrant's PEO and PFO pursuant to Rule 30a-2(b) under the Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.906CERT.](Section_906_Certification.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>AIM Funds Group (Invesco Funds Group)</u>

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: March 5, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: March 5, 2026

By: <u>/s/ Adrien Deberghes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Name: Adrien Deberghes

Title: Principal Financial Officer

Date: March 5, 2026

------

## Ex-99.Cert

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Glenn Brightman, certify that:

1. I have reviewed this report on Form N-CSR of AIM Funds Group (Invesco Funds Group);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; March 5, 2026</u> <u>/s/ Glenn Brightman</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glenn Brightman

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Executive Officer

------

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Adrien Deberghes, certify that:

1. I have reviewed this report on Form N-CSR of AIM Funds Group (Invesco Funds Group);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:<u>March 5, 2026</u> <u>/s/ Adrien Deberghes</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adrien Deberghes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Financial Officer

------

## Exhibit 99.906

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Funds Group (Invesco Funds Group) on Form N-CSR for the period ended December 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Glenn Brightman, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 5, 2026  | /s/ Glenn Brightman  |
|  | Glenn Brightman <br> Principal Executive Officer  |

---

------

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Funds Group (Invesco Funds Group) on Form N-CSR for the period ended December 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Adrien Deberghes, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 5, 2026  | /s/ Adrien Deberghes  |
|  | Adrien Deberghes <br> Principal Financial Officer  |

---

------

## Ex-99.Code

#### Exhibit 99.CODEETH

#### EXHIBIT (a)(1)

### CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS

---

| | |
|:---|:---|
| **Applicable To**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco Funds; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco ETFs (together with the Invesco Funds, a "Fund," and collectively, the "Funds").  |
| **Risk Addressed by Policy**  | Ethics Violations by Principals  |
| **Relevant Law & Related Resources**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Investment Company Act of 1940; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Sarbanes-Oxley Act of 2002.  |
| **Date of Last Review**  | July 2025  |
| **Policy Inception Date**  | August 2003  |

---

I.  **<u>PURPOSE</u>** 

This Code of Ethics (the "Code") for the Invesco Funds and the Invesco ETFs applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller or persons performing similar functions (collectively, the "Covered Officers," each of whom is set forth in Exhibit A to this Code) for the purpose of promoting:

· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

· full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the registrant;

· compliance with applicable governmental laws, rules and regulations;

· prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

· accountability for adherence to the Code.

The Code shall be administered by the Chief Compliance Officer of the respective Funds (the "Chief Compliance Officer"), or his or her delegate. Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

------

The Chief Compliance Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any waivers<sup>1</sup> sought by a Covered Officer must be considered by the Independent Trustees<sup>2</sup> of the relevant Fund or Funds. Any question about the application of the Code should be referred to the Funds' Chief Compliance Officer.

II.  **<u>COVERED OFFICERS TO ACT HONESTLY AND CANDIDLY</u>** 

Each Covered Officer named in Exhibit A to this Code owes a duty to the respective Fund for which he/she serves to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity.

Each Covered Officer must:

• act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Funds' policies;

• observe both the form and spirit of laws and governmental rules and regulations and accounting standards;

• adhere to a high standard of business ethics; and

• place the interest of the Funds and its shareholders before the Covered Officer's own personal interests.

III.  **<u>COVERED OFFICERS SHOULD HANDLE ETHICAL, ACTUAL AND APPARENT CONFLICTS OF INTEREST</u>** 

**<u>Overview</u>. A "conflict of interest" occurs when a Covered Officer's private interest interferes, or appears to interfere, with the interests of, or his/her service to, the Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his/her family, receives improper personal benefits as a result of his/her position with the Funds.** 

------

Certain conflicts of interest arise out of the relationships between Covered Officers and the Funds and already are subject to conflict-of-interest provisions in the Investment Company Act of 1940 as amended ("Investment Company Act"), and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as "affiliated persons" (as defined in the Investment Company Act) of the Funds or the Funds' investment adviser. The Funds' and their investment adviser's and any sub-adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside the parameters of this Code, unless or until the Chief Compliance Officer determines that any violation of such programs and procedures is also a violation of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Funds and their investment adviser of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Funds or for the investment adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Funds and their investment adviser. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Funds.

Each Covered Officer must:

• avoid conflicts of interest wherever possible;

• handle any actual or apparent conflict of interest ethically;

• not use his/her personal influence or personal relationships to influence investment decisions or financial reporting by the Funds whereby the Covered Officer would benefit personally (directly or indirectly) to the detriment of the Funds;

• not cause the Funds to take action, or fail to take action, for the personal benefit of the Covered Officer rather than the benefit of the Funds;

• not use material non-public knowledge of portfolio transactions made or contemplated for, or actions proposed to be taken by, the Funds to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

• as described in more detail below, discuss any material transactions or relationship that could reasonably be expected to give rise to a conflict of interest with the applicable Chief Compliance Officer.

------

Each Covered Officer must, at the time of signing this Code, report to the Chief Compliance Officer all affiliations or significant business relationships outside of the Funds and must update the report annually.

Conflict of interest situations should always be approved by the Chief Compliance Officer and communicated to the relevant Funds or Fund's Board. Any activity or relationship that would present such a conflict for a Covered Officer would likely also present a conflict for the Covered Officer if an immediate member of the Covered Officer's family living in the same household engages in such an activity or has such a relationship. Examples of these include:

• service or significant business relationships as a trustee/director on the board of any public or private company;

• being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member;

• any ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers, other than its investment adviser, principal underwriter, or any affiliated person thereof; and

• a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment with Invesco, its subsidiaries, its parent organizations and any affiliates or subsidiaries thereof, such as compensation or equity ownership.

IV.  **<u>DISCLOSURE AND COMPLIANCE</u>** 

Each Covered Officer should:

• familiarize himself/herself with the disclosure and compliance requirements generally applicable to the Funds;

• not knowingly misrepresent, conceal or omit required disclosures of, or cause others to do the same, facts about the Funds to others, whether within or outside the Funds, including to the Funds' Trustees and auditors, or to governmental regulators and self-regulatory organizations;

• to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Funds and their investment adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

• promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V.  **<u>REPORTING AND ACCOUNTABILITY</u>** 

Each Covered Officer must:

• upon adoption of the Code (thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Chief Compliance Officer that he/she has received, read and understands the Code;

• annually thereafter, affirm to the Chief Compliance Officers that he/she has complied with the requirements of the Code;

------

• not retaliate against any other Covered Officer, other officer or any employee of the Funds or their affiliated persons for reports of potential violations that are made in good faith; and

• notify the Chief Compliance Officer promptly if he/she knows of or suspects any violation of this Code. Failure to do so is itself a violation of this Code.

The Funds will follow these procedures in investigating and enforcing this Code, and in reporting on the Code:

• the Chief Compliance Officer will take all appropriate action to investigate any potential violation reported to him/her;

• if, after such investigation, the Chief Compliance Officer believes that no violation has occurred, the Chief Compliance Officer is not required to take any further action;

• any matter that the Chief Compliance Officer believes is a violation will be reported to the relevant Trust's Audit Committee;

• if the Independent Trustees of the relevant Funds concur that a violation has occurred, they will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer or other appropriate disciplinary actions;

• the Independent Trustees of the relevant Funds will be responsible for granting waivers of this Code, as appropriate; and

• any changes to, or waivers of, this Code will, to the extent required, be disclosed as provided by SEC rules.

VI.  **<u>OTHER POLICIES AND PROCEDURES</u>** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' investment adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code unless any provision of this Code conflicts with any applicable federal or state law, in which case the requirements of such law will govern. The Funds' and their investment adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VII.  **<u>AMENDMENTS</u>** 

------

These Procedures have been adopted by the Board, including a majority of the Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds (the "Independent Trustees"). All material amendments to these Procedures must either be approved in advance by the Board and the Independent Trustees or ratified by the Board and the Independent Trustees, as determined by Legal and Compliance upon consultation with counsel to the Funds. Non-material amendments to these Procedures may be made by Legal and Compliance and will be reported to the Compliance Committee or other applicable committee of the Board or to the Board at the next scheduled in-person meeting of the committee or Board.

VIII.  **<u>CONFIDENTIALITY</u>** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Covered Officers, the Chief Compliance Officer, Independent Trustees of the relevant Fund or Funds and the Independent Trustees' counsel, the relevant Fund or Funds and those Funds' counsel and the senior management of the investment adviser and its counsel.

IX.  **<u>INTERNAL USE</u>** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

I have read and understand the terms of the above Code. I recognize the responsibilities and obligations incurred by me as a result of my being subject to the Code. I hereby agree to abide by the above Code.

------

#### EXHIBIT A
Persons Covered by this Code of Ethics:

• **Invesco Funds** 

• President and Principal Executive Officer - Glenn Brightman

• Treasurer and Principal Financial Officer - Adrian Deberghes

• **Invesco ETFs** 

• President and Principal Executive Officer — Brian Hartigan

• Treasurer and Principal Financial Officer — Kelli Gallegos

<sup>1</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer, as defined in Rule 3b-7 under the Securities Exchange Act of 1934, of the registrant."<br>

<sup>2</sup> Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds

------