Invesco Funds Series 4

Interim Report (Unaudited) For the six months ended 31 May 2014

Invesco Continental European Small Cap Equity Fund

01 Investment Policy and Description of Series 03 Price and Income Record 02 Investment Adviser’s Report on behalf of the Manager 04-06 Portfolio Statement 03 Performance Record 07 Changes in the Composition of the Portfolio

Invesco Global Small Cap Equity Fund

01 Investment Policy and Description of Series 09 Price and Income Record 08 Investment Adviser’s Report on behalf of the Manager 10-18 Portfolio Statement 09 Performance Record 19 Changes in the Composition of the Portfolio

20 Balance Sheet 31 May 2014 27 Statement of Changes in Net Assets attributable to holders of 21 Balance Sheet 30 November 2013 Redeemable Participating Shares 30 November 2013 28 Statement of Changes in Net Assets attributable to holders of 22 Balance Sheet 31 May 2013 Redeemable Participating Shares 31 May 2013 23 Income Statement 31 May 2014 29-34 Notes to the Financial Statements 24 Income Statement 30 November 2013 35 Statement of the Manager’s and Trustee’s Responsibilities 25 Income Statement 31 May 2013 36 General Information 26 Statement of Changes in Net Assets attributable to holders of Redeemable Participating Shares 31 May 2014

Invesco Funds Series 4 Investment Policy and Description of Series

Investment Objectives and Policies

Invesco Continental European Small Cap Equity Fund (the “Fund”) aims to Any investment in the Funds should be considered long-term. There can be achieve long-term capital growth by investing in small companies no guarantee that the amounts subscribed for will be ultimately realised. throughout Europe, but excluding the United Kingdom. The Investment Changes in rates of exchange between currencies may cause the value of an Adviser will seek to meet this investment objective by investing primarily in investment in the Funds of the Series to diminish or increase. Investors listed equity and equity related securities of smaller companies in European should be aware that a more concentrated approach is taken than is markets (including warrants and convertible securities: however no more normally the case to take greater advantage of successful investments than 10% of the net asset value of the Fund may be invested in warrants). involving a greater than usual degree of risk. Investors should be aware that Europe includes countries in the European Union, Switzerland, Scandinavia, there can be no assurance that the Fund's investment will be successful or Bulgaria, Romania, Croatia, Turkey and the Commonwealth of Independent that the investment objective described will be attained. States. Please note that with effect from 31 May 2013 the functional currency of the fund changed to Euro. This report to Shareholders does not constitute an offer or invitation to purchase Shares in any of the Funds. Invesco Global Small Cap Equity Fund (the “Fund”) aims to achieve long- term capital growth through a portfolio of investments in international An updated Invesco Consolidated Prospectus was issued on 20 August securities. The Investment Adviser intends to invest primarily in equity and 2013. This contains all current and relevant information (as at the date of equity related securities of smaller companies, which are quoted on the issue) regarding the Series and other Funds within the Invesco Funds Series world’s stock markets. In pursuing this objective the Investment Adviser 1, 2, 3, 4, 5, 6 and the Fund Series. This report to Shareholders has been may include other investments that are considered appropriate which may prepared on the basis of the Prospectus. If you wish to receive a copy of this include equity and equity related securities in large companies, Shares in Prospectus please contact any Invesco office. collective investment schemes, warrants and other investments permitted by the investment restrictions. No more than 10% of the net asset value of Charges the Fund will be invested in warrants. Annual Annual Annual Annual Description of the Fund Launch Date Management Distributor Administration Trustee Invesco Funds Series 4 (the “Series”) is a multi-portfolio Irish unit trust Share Fee Fee Fee Fee comprising Invesco Continental European Small Cap Equity Fund and Actual Max Invesco Global Small Cap Equity Fund (the “Funds”). The Series is % % % % authorised by the Central Bank of Ireland as a UCITS under the European Invesco Continental European Small Cap Equity A Shares 01/10/1984 2.00 - 0.30 0.0075 Communities (Undertakings for Collective Investment in Transferable AA B Shares 03/08/2001 2.00 1.00 0.30 0.0075 Securities) Regulations 2011 (as amended) and by the Hong Kong AA C Shares 13/01/1993 1.50 - 0.30 0.0075 Securities and Futures Commission (SFC) under the Hong Kong Securities AA Z Shares 21/08/2013 1.00 - 0.30 0.0075 and Futures Ordinance (Cap. 571) and has been recognised by the Financial AA Services Authority in the United Kingdom under Section 264 of the Financial Services and Markets Act 2000 (the “Act”). Invesco Global Small Cap Equity Fund A Shares 01/09/1987 1.50 - 0.40 0.0075 AA The Funds issue Shares to Shareholders. As per the consolidated A (Acc- HKD) A prospectus, these shares are referred to as "Shares" and the shareholder is Shares 07/07/2011 1.50 - 0.40 0.0075 referred to as the "Shareholder" throughout these financial statements. A (CHF-HGD) Shares 18/09/2013 1.50 - 0.40 0.0075 A B Shares 03/08/2001 1.50 1.00 0.30 0.0075 Each Fund is a fund in the Invesco range of funds managed by Invesco AA C Shares 05/11/1996 1.00 - 0.30 0.0075 Global Asset Management Limited, (the “Manager”). Invesco Global Asset AA Management Limited is an indirect wholly-owned subsidiary of Invesco Ltd. C (CHF-HGD) Shares 18/09/2013 1.00 - 0.30 0.0075 A Z Shares 21/08/2013 0.75 - 0.40 0.0075 Each Fund is approved by the Central Bank of Ireland. Each Fund is also AA approved by the SFC. In giving authorisation for the Fund the SFC does not Z (Acc-EUR) Shares 21/08/2013 0.75 - 0.40 0.0075 take responsibility for the financial soundness of the Fund nor for the A correctness of any statements made or opinions expressed in this regard. Distribution Frequency = Accumulating The contents of this report, for which the Directors of the Manager are A = Annual responsible, have been approved by Invesco Global Asset Management AA Limited, which is regulated by the Central Bank of Ireland. The Manager's fee is based on the daily net asset value of each Fund and is The Funds are not registered under the Investment Company paid monthly. The Manager will also be paid a fee in respect of its duties as Act of 1940 (as amended) and its Shares have not been registered under Administrator and Registrar for each Fund. The Administration fee will be the United States Securities Act of 1933 (as amended). calculated daily and will be paid monthly on the last Business Day of each month at the rates set out above, based on the net asset value of each share Accordingly, Shares may not be offered, sold or delivered in the United class of each Fund on each Business Day. The charges are deductible from States or to US Persons as defined in the current Prospectus of the Series, the income of each Fund or from capital in the event of an income shortfall. (the “Prospectus”). The Trustee will be paid a fee calculated on a sliding scale to a maximum rate Share prices are available through the Invesco internet site of 0.0075% per annum of the net asset value of each class of each Share of www.invesco.com (for Shareholders in Hong Kong please refer to the Fund on the last business day of the month and paid monthly. www.invesco.com.hk) and, if required by local law or regulation, published in local leading financial including, in the case of Hong Kong, The assets of a Fund are exclusively available to satisfy the rights of the Hong Kong Economic Times, the South Morning Post and the Shareholders in relation to that Fund and the rights of creditors whose Hong Kong Economic Journal. Share prices are currently also available claims have arisen in connection with the creation, operation or liquidation of from Reuters and Bloomberg. that Fund.

01 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund

Investment Adviser’s Report on behalf of the Manager

Upward progress displayed by European equity markets in 2013 continued Our strategy rests on a twin track approach, underpinned by our emphasis into 2014, driven by a modest return to growth and an improving on valuation. The ‘core’ portfolio is invested in companies with, in our view, macroeconomic environment during the first five months of the year. The high and sustainable returns on capital employed. This is supplemented by a strong rally was particularly sustained in periphery markets, with equity ‘special situations’ category to exploit valuation opportunities. indices in and both posting double digit total returns for the 6 months ending 31 May 2014. However, with inflation in the eurozone Over the last six months, we have increased our exposure to some high remaining well below its targeted 2%, deflationary fears continue to be quality, attractively valued companies, with good growth prospect either present. This prompted the European Central Bank (ECB) to take bold organically or by M&A (examples include a Danish transport company and measures on June 5 - decreasing the Main Financing Rate from 0.25% to European long-term care provider). We also conceded a gradual move up the 0.15% and placing its Deposit Facility Rates into negative territory at (0.1%). market capitalisation scale, with an increased exposure to companies in the These measures have been welcomed by the market, encouraged by the €2bn to €4bn range. Fund holdings continue to provide a good balance ECB’s commitment to steer growth and prevent deflation. between its defensive and cyclical names, while favouring companies with strong fundamentals and a large upside potential. On a country level, a The Fund’s “A” Shares performed strongly over the period under review, gradual increase in exposure to France has been at the expense of Italy, but rising by 13.9% (Total Return, US$), and beating its benchmark, the this is entirely due to individual stock calls rather than as a consequence of a Euromoney Smaller Europe ex UK TR Index which returned 13.1%. This geographic strategy. strong performance placed the Fund in the top quartile of its peer group, the GIFS Europe ex-UK Small Mid Cap Equity basket, which averaged a We maintain a positive outlook for European small caps and mid caps. With return of 9.8%. macro pressures now starting to ease and business conditions improving in Europe, we believe the environment is supportive for further multiple Outperformance was mainly driven by overweight positions in the Basic expansion. Indicators such as capacity utilisation show that Europe remains Materials, Business Providers and Consumer Goods sectors which proved well below its peak but starting to improve. And after a prolonged period of to be a very positive allocation decision, while underweighting technology decline, European earnings have stopped falling. While systematic risks compared to the benchmark placed a relative drag on portfolio returns. remain present in the market but are receding, latest ECB actions reiterated Underweighting Natural Resources has paid-off, as the sector the central bank’s strong commitment to pro-growth policies and willingness underperformed the benchmark which was avoided by the portfolio. At an to use its “toolkit”. We think that what is referred to as the “hope phase” in a individual stock level, Italian auto parts maker Brembo Spa was among the typical equity market cycle has been prolonged, awaiting the growth phase. biggest contributors over the period under review as its earnings prospects Accordingly, we believe our investment process, driven essentially by improved, along with Finnish stainless steel maker Outokumpu that fundamental analysis and company valuation, places us in a favourable benefited from higher nickel prices. Dutch engineering services provider position for the period ahead. Royal Imtech placed the largest strain on returns during this period, on continuing worries about its turnaround plan. Dated: 30 June 2014 – Invesco Global Asset Management Limited

02 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund

Fund Performance Percentage change over:

(All expressed in the share class base currency, Last Last Last 5 years mid to mid, gross income reinvested) Ccy 6 months 12 months (Cumulative) Invesco Continental European Small Cap Equity Fund ‘A’ Shares USD 13.89 40.97 222.64 Invesco Continental European Small Cap Equity Fund ‘B’ Shares USD 13.34 39.60 206.50 Invesco Continental European Small Cap Equity Fund ‘C’ Shares USD 14.17 41.67 230.52 Invesco Continental European Small Cap Equity Fund ‘Z’ Shares EUR 14.49 n/a n/a Euromoney Smaller Europe Ex UK TR USD Index (benchmark) USD 13.05 38.16 109.08 Morningstar GIF OS Europe ex-UK Small Mid Cap Equity* USD 9.82 27.77 102.32 Source: Morningstar and HSBC Smaller European Companies ex UK Sector * For comparative purposes

The Net Asset Value information for 31 May 2014, 30 November 2013 and 31 May 2013 can be found on pages 20, 21 and 22.

Price and Income Record

The tables below show the highest and lowest NAV prices of Shares in the Funds and the annual income distribution according to the pay date of the Fund in the last 10 years.

Highest Lowest Highest Lowest Highest Lowest Highest Lowest NAV Price ‘A’ NAV Price ‘A’ NAV Price ‘B’ NAV Price ‘B’ NAV Price ’C’ NAV PriceNAV Price ’Z’ NAV Price ‘Z’ Calendar Shares Shares Shares Shares Shares ‘C’ Shares Shares Shares Year $ $ $ $ $ $ € € 2005 93.01 73.22 90.01 71.34 98.85 77.58 n/a n/a 2006 134.72 91.90 128.59 88.62 144.07 97.83 n/a n/a 2007 167.56 133.32 159.03 127.21 179.64 142.60 n/a n/a 2008 150.28 45.17 141.91 42.25 161.48 48.73 n/a n/a 2009 109.22 38.20 101.20 35.62 118.33 41.27 n/a n/a 2010 134.34 89.41 122.86 82.30 146.31 97.12 n/a n/a 2011 169.92 96.36 154.81 87.74 185.37 105.04 n/a n/a 2012 137.66 99.01 124.44 90.09 150.10 107.97 n/a n/a 2013 205.62 130.13 184.04 117.66 225.35 141.87 11.22 9.76 2014† 235.72 206.07 210.22 184.24 258.80 225.96 12.85 11.41

Net Income Distribution Net Income per $2,000 invested in March 1993 at a price of $29.15 per share

Calendar ‘A’ Shares ‘B’ Shares ‘C’ Shares ‘Z’ Shares ‘A’ Shares ‘B’ Shares ‘C’ Shares ‘Z’ Shares Year $ $ $ € $ $ $ € 2012 0.2289 - 0.8647 n/a 11.16 - 76.28 n/a 2013 - - - 0.0037 - - - 0.25 2014† ------† Figures to 30 June 2014 Source: Invesco Global Asset Management Limited

Distributions, if any, are paid annually to ‘A’, ‘B’, ‘C’ and ‘Z’ Shareholders on or after 21 January and are set out in note 9. Reports on the progress of the Fund are published on or before 31 March and on or before 31 July each year and shall be made available to Shareholders free of charge on request.

The price of Shares and income earned/generated may rise as well as fall. Please note that past performance is not necessarily a guide to future performance.

03 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund Portfolio Statement

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding € % FRANCE (28.62%) Blue Solutions 252,611 6,441,581 0.85 CGG SA 350,000 3,430,000 0.45 Edenred 950,000 21,954,500 2.91 Eiffage SA 238,203 12,357,972 1.64 Eurazeo SA 257,886 16,195,241 2.15 Eurazeo SA Rights 17/06/2014 257,886 809,762 0.11 Euro Disney SCA 1,539,999 6,159,996 0.82 Groupe Concoursmania 40,515 599,622 0.08 Havas SA 2,078,247 13,217,651 1.75 Ipsen SA 515,804 18,605,050 2.46 LISI 110,000 12,446,500 1.65 Nexity SA 40,912 1,274,409 0.17 Orpea 432,837 22,433,942 2.97 Paris Orleans SA 350,000 6,209,000 0.82 Remy Cointreau SA 180,000 12,378,600 1.64 Rexel SA 1,125,000 19,642,500 2.60 SEB SA 112,328 7,431,620 0.98 Solocal Group 26,597,137 21,543,681 2.85 Solocal Group Rights 09/06/2014 1 1 0.00 Spineway 47,960 426,844 0.06 Terreis 515,351 12,497,262 1.66 216,055,734 28.62 ITALY (17.45%) Banca IFIS SpA 669,763 9,858,911 1.31 Brembo SpA 409,708 11,848,755 1.57 Elica SpA 841,537 1,598,920 0.21 Gruppo Editoriale L'Espresso SpA 989,051 1,631,934 0.22 Maire Tecnimont SpA 2,549,909 6,196,279 0.82 SpA 1,750,000 12,722,500 1.69 Mediolanum SpA 3,045,761 19,157,837 2.54 Moleskine SpA 4,972,257 6,513,657 0.86 Prelios SpA 788,521 473,113 0.06 RCS MediaGroup SpA 8,951,505 13,248,227 1.76 RCS MediaGroup SpA Class B 10,683,267 8,439,781 1.12 Recordati SpA 750,000 9,330,000 1.24 Salvatore Ferragamo SpA 725,000 16,160,250 2.14 Sogefi SpA 1,000,000 4,300,000 0.57 Tod's SpA 102,340 10,147,011 1.34 131,627,175 17.45 NETHERLANDS (10.49%) AFC Ajax NV 411,183 3,824,002 0.51 Arcadis NV 767,221 19,993,779 2.65 Kendrion NV 308,823 7,998,516 1.06 Nutreco NV 528,567 17,067,428 2.26 Ordina NV 2,677,369 5,247,643 0.70 Royal Imtech NV 13,153,697 15,258,289 2.02 SBM Offshore NV 817,748 9,763,911 1.29 79,153,568 10.49 (8.03%) Capital Stage AG 1,700,000 6,205,000 0.82 AG 645,728 14,025,212 1.86 HanseYachts AG 147,224 780,287 0.10

04 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding € % GERMANY (8.03%) (continued) Hornbach Holding AG 78,036 5,496,856 0.73 MTU Aero Engines AG 329,934 22,785,242 3.02 Takkt AG 770,343 11,300,932 1.50 60,593,529 8.03 SPAIN (7.67%) Acciona SA 388,617 22,819,590 3.02 EDP Renovaveis SA 2,950,000 14,897,500 1.97 Indra Sistemas SA 520,603 6,918,814 0.92 Laboratorios Farmaceuticos Rovi SA 980,703 9,708,960 1.29 Tubacex SA 950,000 3,553,000 0.47 57,897,864 7.67 FINLAND (4.46%) Outokumpu OYJ 64,040,720 17,290,994 2.29 Outotec OYJ 2,000,000 16,360,000 2.17 33,650,994 4.46 (4.24%) Espirito Santo Saude SGPS SA 3,414,870 13,010,655 1.72 Impresa SGPS SA 5,601,187 9,522,018 1.26 REN - Redes Energeticas Nacionais SGPS SA 2,989,003 8,130,088 1.08 Sonae 1,078,506 1,391,273 0.18 32,054,034 4.24 DENMARK (3.90%) DSV A/S 770,000 18,811,100 2.49 TDC A/S 1,500,000 10,665,000 1.41 29,476,100 3.90 SWITZERLAND (3.28%) EFG International AG 750,000 6,135,000 0.81 Nobel Biocare Holding AG 1,710,230 18,641,507 2.47 24,776,507 3.28 SWEDEN (2.72%) CDON Group AB 3,800,000 11,742,000 1.56 Nobia AB 1,247,500 8,133,700 1.08 Opus Group AB 360,779 580,854 0.08 20,456,554 2.72 BELGIUM (2.37%) Arseus NV 329,750 13,008,637 1.72 EVS Broadcast Equipment SA 125,161 4,881,279 0.65 17,889,916 2.37 IRELAND (1.99%) C&C Group Plc 1,004,833 4,511,700 0.60 Green REIT plc 1,542,490 1,928,113 0.26 Origin Enterprises Plc 1,066,497 8,531,976 1.13 14,971,789 1.99 UNITED KINGDOM (1.57%) Dolphin Capital Investors Ltd 26,276,132 11,824,259 1.57

05 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding € % GABON (0.59%) Total Gabon 10,203 4,489,218 0.59

LUXEMBOURG (0.47%) eDreams ODIGEO SL 339,587 3,541,892 0.47

Total Value of Investments (Cost €694,576,415) 738,459,133 97.85 Options Unrealised Value of 31 May 2014 Contracts Counterparty Commitment Long/Short Gain/(Loss) Market Value Fund % Description € Dax Index Put Option EUR 9000 19/12/2014 2,500 Merrill Lynch 4,000,994 Long (1,788,494) 2,212,500 0 .29

Dax Mid-Cap Index Put Option EUR 15100 19/12/2014 1,250 Deutsche Bank 3,033,306 Long (813,931) 2,219,375 0 .30

4,431,875 0 .59

Total Financial assets (including derivatives) 742,891,008 98.44 Cash and Cash Equivalents (see note 5 for details) 7,277,004 0.96 Bank Overdraft (see note 5 for details) (4,674,623) (0 .62)

Adjustment from bid-market prices to mid-market prices 1,228,152 0.16 Other Net Current Assets 7,961,294 1.06 Total Value of the Fund at 31 May 2014 754,682,835 100.00

% of Analysis of total assets Total Assets Transferable securities admitted to an official stock exchange listing or dealt in on another regulated market. 96.30 Other assets 3.70 100.00

06 Invesco Funds Series 4 Invesco Continental European Small Cap Equity Fund Changes in the Composition of the Portfolio

For the six months ended 31 May 2014 Purchases Cost € Sales Proceeds € Mediolanum SpA 29,997,959 Ziggo NV 20,542,287 Edenred 21,956,430 Umicore SA 15,529,484 Rexel SA 21,304,977 Bolsas y Mercados Espanoles SA 12,105,287 Royal Imtech NV 20,367,883 Mediolanum SpA 11,377,073 Solocal Group 19,302,511 Koninklijke BAM Groep NV 11,315,469 DSV A/S 17,774,977 Vestas Wind Systems A/S 10,841,035 Salvatore Ferragamo SpA 16,939,477 Enagas SA 10,496,055 Acciona SA 16,885,720 GAGFAH SA 10,343,893 Eurazeo SA 16,084,593 Havas SA 9,749,752 Ipsen SA 15,521,811 Aer Lingus Group plc 8,685,040 MTU Aero Engines AG 15,420,357 AG 8,596,069 Umicore SA 14,490,922 AG 8,365,072 Banca IFIS SpA 14,355,939 Banco Espirito Santo SA 8,128,640 Orpea 13,719,297 Banca IFIS SpA 6,912,062 Ziggo NV 13,689,501 Bull 6,489,036 EDP Renovaveis SA 13,458,814 Poltrona Frau SpA 6,270,702 Arcadis NV 12,922,161 Koninklijke Wessanen NV 6,136,243 Nobel Biocare Holding AG 12,451,308 Societe BIC SA 5,930,757 Havas SA 12,267,543 Sonae 5,917,041 Mediobanca SpA 12,009,913 Straumann Holding AG 5,905,029 Outotec OYJ 11,934,923 AG 5,627,737 Outokumpu OYJ 11,751,440 Lar Espana Real Estate Socimi SA 5,625,888 Remy Cointreau SA 11,700,973 Abengoa SA 5,583,407 Arseus NV 11,580,584 Saft Groupe SA 5,180,858 TDC A/S 11,437,482 Hispania Activos Inmobiliarios SAU 4,884,651 Espirito Santo Saude SGPS SA 11,178,257 SpA 4,788,405 Dolphin Capital Investors Ltd 10,171,833 Virbac SA 4,777,026 CDON Group AB 10,064,975 DMG MORI SEIKI AG 4,766,844 Nutreco NV 9,900,223 Recordati SpA 4,726,177 Carl Zeiss Meditec AG 9,848,557 RCS MediaGroup SpA 4,571,138 Tod's SpA 9,659,653 SBM Offshore NV 4,054,656 SBM Offshore NV 8,979,567 William Demant Holding A/S 4,003,684 RCS MediaGroup SpA 8,937,748 Industria Macchine Automatiche SpA 3,501,207 Terreis 8,180,272 LEG Immobilien AG 3,299,906 Impresa SGPS SA 7,795,207 Other Sales 65,644,396 Laboratorios Farmaceuticos Rovi SA 7,774,620 Total proceeds of sales since 1 December 2013 €320,672,006 Aer Lingus Group plc 7,689,545 EFG International AG 7,618,861 SEB SA 7,573,172 Takkt AG 7,167,394 Other Purchases 148,945,263 Total costs of purchases since 1 December 2013 €670,812,642

07 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund

Investment Adviser’s Report on behalf of the Manager

Global smaller companies markets ended 2013 in a position of strength period. While the Eurozone’s problems are far from being resolved, in our though year-to-date returns have subsequently been fairly flat. So far this view, low starting valuations for equities, rather than earnings growth, have year we’ve seen a reversal of performance within equity markets in general been the primary driver of the move. Strong stock picking within the region with a rotation out of the previously high performing cyclical areas and into and an overweight exposure versus the MSCI AC World Small Cap index more defensive areas which are currently doing well. As such, global smaller benefited the Fund’s European exposure. In the UK, at a macro level, e companies have lagged their large-cap counterparts over the six months. conomic growth expectations have improved consistently over the review Subdued economic recovery is now underway in the developed world period. As such, the Fund also gained from strong stock picking and an contributing to global equity market performance. overweight exposure to UK smaller companies.

We’re not forecasting a huge period of economic growth but we are Political uncertainty continued to dominate within emerging markets. constructive about the economies in the US, UK and Europe continuing to However, amid a recent de-escalation of tensions between and improve. The two major risks to the global growth scenario – Chinese Ukraine, geopolitical risk in the region has started to recede. As developed growth concerns and the Russia-Ukraine crisis - seem to be receding, market equities pulled away from their emerging market counterparts, the although political risks continue to dominate. Fund’s emerging market exposure detracted from returns, particularly emerging Europe and Latin America. Asia Pacific ex-Japan was a relatively Over the 6 months to the end of May 2014, the Fund’s “A” Shares returned strong performer and stock selection for the region was also positive for 4.6%, compared to the MSCI AC World Small Cap index, which returned 4.7% returns. (total return, US$). During the period the Fund was placed in the third quartile of its peer group, the GIF OS Global Small-Cap Equity sector, which The approach to managing the Fund combines stock selection with regional returned 4.9%. geographic allocation.

Global smaller companies rose modestly over the six months on signs that Over the six months, we reduced our exposure to Europe and increased it to economic growth is accelerating, amid loose monetary policies in the the US. Europe - After a strong run of performance we took profits. US – developed world. The lessening of a number of macroeconomic risks, Given the pullback/rotation we have seen in recent months and US$ notably the European financial crisis, has served to support their upward weakness compared to sterling. It was both a market and currency call. trajectory. Indeed, Europe has seen a return to favour with the share prices of European companies rising above the broader market over the six-month Dated: 30 June 2014 – Invesco Global Asset Management Limited

08 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund

Fund Performance Percentage change over:

(All expressed in the share class base currency, Last Last Last 5 years mid to mid, gross income reinvested) Ccy 6 months 12 months (Cumulative) Invesco Global Small Cap Equity Fund ‘A’ Shares USD 4.56 17.11 124.55 Invesco Global Small Cap Equity Fund ‘A’ CHF HGD Shares CHF 5.37 n/a n/a Invesco Global Small Cap Equity Fund ‘A’ HKD Shares HKD 4.57 16.94 27.10 Invesco Global Small Cap Equity Fund ‘B’ Shares USD 4.17 16.17 114.71 Invesco Global Small Cap Equity Fund ‘C’ Shares USD 4.87 17.81 131.60 Invesco Global Small Cap Equity Fund ‘C’ CHF HGD Shares CHF 5.75 n/a n/a Invesco Global Small Cap Equity Fund ‘Z’ Shares USD 4.90 n/a n/a Invesco Global Small Cap Equity Fund ‘Z’ EUR Shares EUR 4.88 n/a n/a MSCI World Small Cap Index (benchmark) USD 4.66 19.93 131.92 Morningstar GIF OS Global Small/Mid-Cap Equity * USD 4.89 19.50 103.43 Source: Morningstar * For comparative purposes

The Net Asset Value information for 31 May 2014 , 30 November 2013 and 31 May 2013 can be found on pages 20, 21 and 22.

Price and Income Record

The tables below show the highest and lowest NAV prices of Shares in the Funds and the annual income distribution according to the pay date of the Fund in the last 10 years. Lowest Highest Lowest Highest Lowest Highest Lowest Highest NAV Highest Lowest NAV NAV Price ‘A’ NAV Price NAV Price ‘A’ CHF NAV Price ‘A’ CHF NAV Price ‘A’ NAV Price ‘A’ NAV Price ‘B’ Price ‘B’ NAV Price ‘C’ Price ‘C’ Calendar Shares ‘A’ Shares HGD Shares HGD Shares HKD Shares HKD Shares Shares Shares Shares Shares Year $ $ CHF CHF HKD HKD $ $ $ $ 2005 64.41 55.91 n/a n/a n/a n/a 61.95 54.12 67.16 58.12 2006 81.94 64.73 n/a n/a n/a n/a 78.06 62.24 85.92 67.49 2007 97.31 81.55 n/a n/a n/a n/a 92.22 77.67 102.36 85.53 2008 88.15 40.23 n/a n/a n/a n/a 83.18 37.64 92.97 42.64 2009 72.92 37.73 n/a n/a n/a n/a 67.50 35.20 77.88 40.06 2010 90.92 68.82 n/a n/a n/a n/a 83.47 63.66 97.51 73.55 2011 99.64 71.03 n/a n/a 100.54 72.88 91.21 64.74 107.08 76.52 2012 93.42 77.43 n/a n/a 95.48 79.19 84.20 70.12 100.34 83.32 2013 121.50 89.76 10.84 10.00 124.25 91.74 108.55 80.93 131.04 96.38 2014† 126.66 114.94 11.28 10.25 129.49 117.70 112.78 102.62 136.97 124.04

Highest Lowest Lowest NAV Price ‘C’ NAV Price Highest NAV Highest Lowest CHF HGD ‘C’ CHF HGD NAV Price ’Z’ Price ’Z’ NAV Price ‘Z’ NAV Price ‘Z’ Calendar Shares Shares Shares Shares EUR Shares EUR Shares Year CHF CHF $ $ € € 2005 n/a n/a n/a n/a n/a n/a 2006 n/a n/a n/a n/a n/a n/a 2007 n/a n/a n/a n/a n/a n/a 2008 n/a n/a n/a n/a n/a n/a 2009 n/a n/a n/a n/a n/a n/a 2010 n/a n/a n/a n/a n/a n/a 2011 n/a n/a n/a n/a n/a n/a 2012 n/a n/a n/a n/a n/a n/a 2013 10.86 10.00 11.30 9.78 10.99 9.80 2014† 11.33 10.28 11.82 10.70 11.68 10.60

Net Income Distribution Net Income per $2,000 invested in June 1997 At a price of $36.14 per share Calendar ‘A’ Shares ‘B’ Shares ‘C’ Shares ‘Z’ Shares ‘A’ Shares ‘B’ Shares ‘C’ Shares ‘Z’ Shares Year $ $ $ $ $ $ $ € 2009 0.16 0.15 0.17 n/a 9.09 8.46 9.67 n/a 2010 - - - n/a - - - n/a 2011 - - 0.17 n/a - - 13.20 n/a 2012 0.0416 - 0.5344 n/a 2.30 - 29.57 n/a 2013 - - 0.2600 0.0010 - - 14.39 0.06 2014† ------† Figures to 30 June 2014 Source: Invesco Global Asset Management Limited

Distributions, if any, are paid annually to ‘A’, ‘B’, ‘C’ and ‘Z’ Shareholders on or after 21 January and are set out in note 9. Reports on the progress of the Fund are published on or before 31 March and on or before 31 July each year and shall be made available to Shareholders free of charge on request. The price of Shares and income earned/generated may rise as well as fall. Please note that past performance is not necessarily a guide to future performance.

09 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % UNITED STATES (30.32%) Alere Inc 52,782 1,898,569 0.35 American Financial Group Inc 30,560 1,782,870 0.33 Apogee Enterprises Inc 49,706 1,504,601 0.28 ARRIS Group Inc 57,101 1,883,191 0.35 Artisan Partners Asset Management Inc 27,470 1,581,997 0.29 Bally Technologies Inc 28,181 1,675,079 0.31 BancorpSouth Inc 71,110 1,639,085 0.31 Beacon Roofing Supply Inc 36,801 1,270,370 0.24 Beazer Homes USA Inc 65,702 1,300,243 0.24 bebe stores inc 64,289 261,013 0.05 Belden Inc 21,895 1,584,103 0.30 Bottomline Technologies de Inc 49,531 1,441,352 0.27 CACI International Inc 22,952 1,645,888 0.31 Cadence Design Systems Inc 115,241 1,934,896 0.36 Celadon Group Inc 76,628 1,754,015 0.33 Charles River Laboratories International Inc 30,279 1,622,652 0.30 Coherent Inc 22,817 1,364,000 0.25 Columbia Sportswear Co 23,406 1,958,146 0.36 Community Health Systems Inc 37,956 1,590,356 0.30 Conversant Inc 63,998 1,526,352 0.28 Cousins Properties Inc 75,300 899,082 0.17 Cracker Barrel Old Country Store Inc 15,265 1,514,899 0.28 Cray Inc 86,717 2,453,224 0.46 Cubist Pharmaceuticals Inc 22,708 1,513,715 0.28 CVB Financial Corp 105,655 1,545,733 0.29 DineEquity Inc 16,236 1,289,625 0.24 Douglas Emmett Inc 64,600 1,824,304 0.34 Dresser-Rand Group Inc 21,732 1,331,520 0.25 Dycom Industries Inc 59,149 1,774,470 0.33 E*TRADE Financial Corp 85,311 1,741,197 0.32 Eagle Materials Inc 20,913 1,832,397 0.34 East West Bancorp Inc 54,338 1,812,716 0.34 Energen Corp 21,153 1,816,408 0.34 EnerSys Inc 31,965 2,234,673 0.42 Evercore Partners Inc 31,313 1,744,134 0.33 Fairchild Semiconductor International Inc 87,618 1,283,604 0.24 FEI Co 14,381 1,200,238 0.22 Finisar Corp 68,798 1,709,630 0.32 FMC Corp 23,055 1,774,774 0.33 Glacier Bancorp Inc 70,012 1,849,717 0.34 Globus Medical Inc 69,911 1,691,846 0.32 GNC Holdings Inc 28,563 1,043,406 0.19 Gran Tierra Energy Inc 99,200 723,168 0.13 Graphic Packaging Holding Co 225,281 2,455,563 0.46 Haemonetics Corp 32,448 1,116,211 0.21 Haynes International Inc 32,915 1,771,485 0.33 Heartland Express Inc 80,949 1,776,831 0.33 Helix Energy Solutions Group Inc 62,452 1,438,270 0.27 Hittite Microwave Corp 27,199 1,602,837 0.30 Iberiabank Corp 25,143 1,560,626 0.29 Impax Laboratories Inc 73,349 2,031,034 0.38 Informatica Corp 37,475 1,392,946 0.26 Interface Inc 92,291 1,697,231 0.32 Jack Henry & Associates Inc 32,572 1,899,599 0.35 Janus Capital Group Inc 131,299 1,549,328 0.29 JDS Uniphase Corp 90,226 1,011,433 0.19 Jones Lang LaSalle Inc 15,738 1,902,252 0.35 Kindred Healthcare Inc 70,313 1,797,903 0.34 Landstar System Inc 28,618 1,876,196 0.35 LaSalle Hotel Properties 53,754 1,769,582 0.33

10 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % UNITED STATES (30.32%) (continued) La-Z-Boy Inc 60,516 1,496,561 0.28 Lexington Realty Trust 121,000 1,369,720 0.26 LifePoint Hospitals Inc 30,602 1,862,744 0.35 MAXIMUS Inc 36,450 1,640,979 0.31 Merrill Lynch International WTS 56,100 241,791 0.04 MicroStrategy Inc 13,548 1,931,267 0.36 Minerals Technologies Inc 30,987 1,938,237 0.36 MRC Global Inc 47,543 1,373,517 0.26 Nexstar Broadcasting Group Inc 32,115 1,489,494 0.28 Old Dominion Freight Line Inc 40,958 2,604,110 0.49 PacWest Bancorp 44,106 1,783,206 0.33 Papa John's International Inc 48,956 2,111,472 0.39 Penske Automotive Group Inc 41,019 1,906,973 0.36 Pier 1 Imports Inc 58,839 1,039,685 0.19 Power Integrations Inc 28,037 1,422,317 0.26 Premier Inc 31,811 961,647 0.18 Primoris Services Corp 59,527 1,717,354 0.32 Red Robin Gourmet Burgers Inc 27,170 1,954,610 0.36 Rosetta Resources Inc 28,332 1,320,838 0.25 Sanmina Corp 83,133 1,700,070 0.32 SciQuest Inc 39,609 675,730 0.13 SS&C Technologies Holdings Inc 52,685 2,251,230 0.42 StanCorp Financial Group Inc 26,533 1,603,124 0.30 Targa Resources Corp 17,098 1,965,244 0.37 Team Inc 39,096 1,664,317 0.31 Tech Data Corp 27,950 1,683,149 0.31 Texas Capital Bancshares Inc 30,837 1,586,872 0.30 Thor Industries Inc 30,870 1,851,583 0.35 TreeHouse Foods Inc 17,045 1,279,227 0.24 Trex Co Inc 56,306 1,751,117 0.33 TriMas Corp 47,228 1,672,816 0.31 Triumph Group Inc 20,153 1,389,348 0.26 TRW Automotive Holdings Corp 23,448 2,005,273 0.37 UGI Corp 36,593 1,771,467 0.33 United Natural Foods Inc 19,253 1,308,434 0.24 Veeco Instruments Inc 34,201 1,137,183 0.21 Waste Connections Inc 40,339 1,821,306 0.34 Watts Water Technologies Inc 25,761 1,434,115 0.27 West Pharmaceutical Services Inc 37,461 1,595,089 0.30 Western Alliance Bancorp 75,215 1,726,936 0.32 Wintrust Financial Corp 8,197 357,881 0.07 Wright Medical Group Inc 53,986 1,651,432 0.31 162,522,050 30.32 JAPAN (12.91%) Accordia Golf Co Ltd 180,100 2,308,882 0.43 Aica Kogyo Co Ltd 76,400 1,661,700 0.31 Daicel Corp 313,000 2,848,300 0.53 Daiei Inc 274,450 812,372 0.15 Daiwa Securities Group Inc 122,000 983,320 0.18 DMG Mori Seiki Co Ltd 111,400 1,356,852 0.25 Fuji Machine Manufacturing Co Ltd 180,400 1,445,004 0.27 Ibiden Co Ltd 125,500 2,292,885 0.43 Kawasaki Kisen Kaisha Ltd 1,167,000 2,450,700 0.46 Konica Minolta Inc 321,800 2,773,916 0.52 Mitsui OSK Lines Ltd 605,000 2,165,900 0.40 Nippon Paper Industries Co Ltd 170,000 3,483,300 0.65 Nissan Chemical Industries Ltd 158,300 2,391,913 0.45 NTT Urban Development Corp 256,000 2,562,560 0.48 OKUMA Corp 283,000 2,612,090 0.49

11 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % JAPAN (12.91%) (continued) Resona Holdings Inc 702,400 3,666,528 0.68 Sato Holdings Corp 141,800 3,094,076 0.58 Shin-Etsu Polymer Co Ltd 96,200 395,382 0.07 Shinko Electric Industries Co Ltd 199,700 1,631,549 0.30 Star Micronics Co Ltd 320,400 4,219,668 0.79 Sumitomo Rubber Industries Ltd 231,100 3,424,902 0.64 Suruga Bank Ltd 215,000 3,695,850 0.69 Taiyo Yuden Co Ltd 189,100 1,968,531 0.37 Tamron Co Ltd 146,100 3,344,229 0.62 Toshiba Machine Co Ltd 122,000 517,280 0.10 Tsugami Corp 364,000 1,896,440 0.35 Union Tool Co 80,200 1,873,472 0.35 Unipres Corp 149,200 3,231,672 0.60 Yamaha Motor Co Ltd 141,900 2,230,668 0.42 Zeon Corp 204,000 1,878,840 0.35 69,218,781 12.91 UNITED KINGDOM (9.65%) Abcam Plc 124,919 805,728 0.15 Advanced Medical Solutions Group Plc 512,010 993,299 0.19 Amerisur Resources Plc 1,144,881 1,144,881 0.21 Bovis Homes Group Plc 54,371 691,599 0.13 Brammer Plc 20,350 163,614 0.03 Brewin Dolphin Holdings Plc 97,830 518,499 0.10 Brooks Macdonald Group Plc 30,079 805,215 0.15 Cape Plc 106,715 535,709 0.10 Carclo Plc 1,421 2,657 0.00 Chemring Group Plc 82,642 310,734 0.06 CLS Holdings Plc 21,660 493,198 0.09 Consort Medical Plc 42,066 603,226 0.11 Crest Nicholson Holdings plc 80,699 455,142 0.08 CVS Group Plc 394,482 1,917,183 0.36 Dairy Crest Group Plc 73,601 567,464 0.11 Dechra Pharmaceuticals Plc 85,348 980,649 0.18 Dignity Plc 36,437 863,921 0.16 Diploma Plc 174,339 1,851,480 0.35 Dolphin Capital Investors Ltd 2,500,000 1,550,000 0.29 Dunelm Group Plc 51,520 789,802 0.15 Ebiquity Plc 166,667 343,334 0.06 EKF Diagnostics Holdings Plc 716,267 293,669 0.05 Electrocomponents Plc 94,349 452,875 0.08 Elementis Plc 302,951 1,454,165 0.27 EMIS Group Plc 85,840 994,886 0.19 EnQuest Plc 389,012 921,958 0.17 Essentra Plc 46,836 619,640 0.12 Euromoney Institutional Investor Plc 73,472 1,444,460 0.27 Fenner Plc 72,070 420,889 0.08 Go-Ahead Group Plc 19,388 715,999 0.13 Guinness Peat Group Plc 1,461,583 803,871 0.15 Howden Joinery Group Plc 263,788 1,411,266 0.26 Hunting Plc 89,038 1,219,821 0.23 Innovation Group Plc 2,160,053 1,209,630 0.23 Interserve Plc 63,329 689,019 0.13 ITE Group Plc 233,900 916,888 0.17 JD Sports Fashion Plc 17,295 473,710 0.09 Jupiter Fund Management Plc 100,363 677,450 0.13 Keywords Studios Plc 100,256 268,686 0.05 Latchways Plc 36,291 677,190 0.13 Marston's Plc 488,755 1,241,438 0.23 Mears Group Plc 181,607 1,443,776 0.27

12 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % UNITED KINGDOM (9.65%) (continued) Micro Focus International Plc 74,478 1,051,629 0.20 Microgen Plc 137,637 284,909 0.05 N Brown Group Plc 186,106 1,459,071 0.27 Premier Oil Plc 104,581 625,394 0.12 PZ Cussons Plc 60,742 354,733 0.07 RPS Group Plc 239,111 1,152,515 0.21 RWS Holdings Plc 53,604 753,136 0.14 Scotia Holdings* 7,000 – – Senior Plc 409,827 2,045,037 0.38 Servelec Group Plc 108,742 462,153 0.09 Stanley Gibbons Group Plc 185,494 936,745 0.18 Synergy Health Plc 110,732 2,360,806 0.44 Telecity Group Plc 22,453 271,457 0.05 Topps Tiles Plc 303,263 606,526 0.11 Ultra Electronics Holdings Plc 49,163 1,518,645 0.28 Utilitywise Plc 90,099 453,198 0.08 Victrex Plc 34,665 1,056,243 0.20 Workspace Group Plc 33,334 319,006 0.06 WS Atkins Plc 25,138 557,812 0.10 Xaar Plc 48,127 681,960 0.13 51,689,595 9.65 FRANCE (5.93%) Blue Solutions 34,631 1,202,042 0.22 Edenred 116,745 3,671,630 0.68 Eiffage SA 29,267 2,066,836 0.39 Eurazeo SA 20,582 1,759,349 0.33 Eurazeo SA Rights 17/06/2014 18,398 78,559 0.01 Euro Disney SCA 227,282 1,236,414 0.23 Groupe Concoursmania 43,944 885,032 0.17 Havas SA 249,390 2,157,224 0.40 Ipsen SA 59,559 2,923,751 0.55 LISI 12,196 1,878,306 0.35 Nexity SA 5,087 215,689 0.04 Orpea 48,380 3,413,209 0.64 Paris Orleans SA 60,000 1,448,400 0.27 Rexel SA 100,000 2,377,000 0.44 SEB SA 11,872 1,069,074 0.20 Solocal Group 2,228,832 2,451,715 0.46 Solocal Group Rights 09/06/2014 1 1 0.00 Spineway 38,400 465,024 0.09 Terreis 75,500 2,492,255 0.46 31,791,510 5.93 SOUTH KOREA (3.22%) DGB Financial Group Inc 160,080 2,417,208 0.45 Hyundai Mobis 9,383 2,648,821 0.49 Hyundai Motor Co (Pref) 15,453 2,287,198 0.43 Korea Investment Holdings Co Ltd 37,806 1,426,798 0.27 Korean Reinsurance Co 262,440 2,571,912 0.48 LF Corp 93,080 2,490,821 0.46 Shinhan Financial Group Co Ltd 57,410 2,495,613 0.47 Shinsegae Co Ltd 4,478 917,363 0.17 17,255,734 3.22 CAYMAN ISLANDS (3.01%) Charm Communications Inc 110,548 494,149 0.09 China Meidong Auto Holdings Ltd 5,851,691 1,287,372 0.24 EVA Precision Industrial Holdings Ltd 12,308,000 2,461,600 0.46 Greatview Aseptic Packaging Co Ltd 4,416,000 3,576,960 0.67

13 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % CAYMAN ISLANDS (3.01%) (continued) HKR International Ltd 3,117,600 1,215,864 0.23 KWG Property Holding Ltd 376,000 236,880 0.04 Mindray Medical International Ltd 42,110 1,291,093 0.24 NetEase Inc 57,618 4,115,077 0.77 Samson Holding Ltd 7,237,000 940,810 0.18 Silicon Motion Technology Corp 29,826 495,112 0.09 16,114,917 3.01 NETHERLANDS (2.82%) AFC Ajax NV 150,000 1,899,000 0.35 Arcadis NV 90,826 3,220,690 0.60 Fortuna Entertainment Group NV 161,700 1,021,944 0.19 Kendrion NV 33,175 1,169,419 0.22 Nutreco NV 63,004 2,769,026 0.52 Ordina NV 295,686 789,481 0.15 Royal Imtech NV 1,506,835 2,365,731 0.44 SBM Offshore NV 115,589 1,878,321 0.35 15,113,612 2.82 ITALY (2.74%) Banca IFIS SpA 75,449 1,511,998 0.28 Brembo SpA 47,424 1,866,609 0.35 Elica SpA 287,286 744,071 0.14 Maire Tecnimont SpA 317,767 1,048,631 0.20 Mediolanum SpA 277,723 2,377,309 0.44 Moleskine SpA 1,136,831 2,034,927 0.38 Prelios SpA 92,007 75,446 0.01 RCS MediaGroup SpA 819,163 1,646,518 0.31 RCS MediaGroup SpA B Shares 1,153,543 1,245,826 0.23 Salvatore Ferragamo SpA 70,000 2,123,800 0.40 14,675,135 2.74 BRAZIL (2.73%) Alpargatas SA (Pref) 139,400 748,578 0.14 Banco ABC Brasil SA (Pref) 146,284 863,076 0.16 Banco do Estado do Rio Grande do Sul SA (Pref) 164,700 808,677 0.15 Bematech SA 190,000 780,900 0.15 Cia de Locacao das Americas 314,500 622,710 0.12 Direcional Engenharia SA 125,100 638,010 0.12 Estacio Participacoes SA 103,500 1,234,755 0.23 Even Construtora e Incorporadora SA 303,700 929,322 0.17 Iguatemi Empresa de Shopping Centers SA 123,800 1,262,760 0.24 JSL SA 250,300 1,374,147 0.26 Linx SA 38,700 808,056 0.15 Mahle-Metal Leve SA Industria e Comercio 86,300 869,904 0.16 Odontoprev SA 129,700 559,007 0.10 Smiles SA 43,900 810,394 0.15 Suzano Papel e Celulose SA (Pref) 183,800 658,004 0.12 TPI - Triunfo Participacoes e Investimentos SA 271,000 1,084,000 0.20 Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A 36,000 582,840 0.11 14,635,140 2.73 INDIA (2.04%) Adani Ports and Special Economic Zone Ltd 363,583 1,403,431 0.26 Glenmark Pharmaceuticals Ltd 116,045 1,083,860 0.20 HDFC Bank Ltd 170,669 2,368,886 0.44 Sobha Developers Ltd 89,302 676,016 0.13 Tata Motors Ltd 50,381 1,897,852 0.35

14 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % INDIA (2.04%) (continued) UPL Ltd 694,451 3,527,811 0.66 10,957,856 2.04 SINGAPORE (1.94%) Cambridge Industrial Trust 6,275,510 3,890,816 0.73 Fortune Real Estate Investment Trust 2,555,000 2,222,850 0.41 Gallant Venture Ltd 833,000 224,910 0.04 Goodpack Ltd 1,599,000 3,118,050 0.58 Vard Holdings Ltd 1,126,000 957,100 0.18 10,413,726 1.94 GERMANY (1.60%) Carl Zeiss Meditec AG 71,052 2,100,297 0.39 HanseYachts AG 132,547 955,664 0.18 Hornbach Holding AG (Pref) 7,323 702,129 0.13 MTU Aero Engines AG 33,974 3,193,556 0.60 Takkt AG 82,073 1,638,177 0.30 8,589,823 1.60 CANADA (1.53%) CAE Inc 172,702 2,352,201 0.44 Hudson's Bay Co 117,500 1,869,425 0.35 Precision Drilling Corp Npv 150,428 1,910,436 0.36 Ultra Petroleum Corp 75,592 2,056,858 0.38 8,188,920 1.53 SPAIN (1.48%) Acciona SA 41,776 3,339,156 0.62 Cemex Latam Holdings SA 127,848 1,158,303 0.22 EDP Renovaveis SA 255,000 1,751,850 0.33 Laboratorios Farmaceuticos Rovi SA 123,501 1,664,793 0.31 7,914,102 1.48 TAIWAN (1.44%) China Life Insurance Co Ltd 2,784,739 2,617,655 0.49 E.Sun Financial Holding Co Ltd 3,856,675 2,545,405 0.47 Hon Hai Precision Industry Co Ltd 411,358 2,558,647 0.48 7,721,707 1.44 HONG KONG (1.26%) Cathay Pacific Airways Ltd 1,008,000 1,834,560 0.34 Hutchison Whampoa Ltd 369,000 4,940,910 0.92 6,775,470 1.26 IRELAND (1.20%) C&C Group Plc 171,434 1,047,462 0.20 Endo International Plc 23,796 1,698,559 0.32 Green REIT plc 127,029 217,220 0.04 ICON Plc 39,759 1,669,480 0.31 Origin Enterprises Plc 162,924 1,774,242 0.33 6,406,963 1.20 MEXICO (1.08%) Banregio Grupo Financiero SAB de CV 101,000 587,820 0.11 Corp Inmobiliaria Vesta SAB de CV 602,200 1,246,554 0.23 Fibra Uno Administracion SA de CV 335,800 1,044,338 0.20 Gruma SAB de CV 84,600 860,382 0.16 Grupo Financiero Interacciones SA de CV 167,100 1,087,821 0.20

15 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % MEXICO (1.08%) (continued) Hoteles City Express SAB de CV 534,200 982,928 0.18 5,809,843 1.08 PORTUGAL (1.01%) Espirito Santo Saude SGPS SA 423,704 2,199,024 0.41 Impresa SGPS SA 811,368 1,874,260 0.35 REN - Redes Energeticas Nacionais SGPS SA 361,247 1,336,614 0.25 5,409,898 1.01 SOUTH AFRICA (0.98%) Aspen Pharmacare Holdings Ltd 76,500 2,028,015 0.38 Mr Price Group Ltd 105,400 1,710,642 0.32 Truworths International Ltd 199,900 1,533,233 0.28 5,271,890 0.98 CHINA (0.97%) Qingling Motors Co Ltd 5,160,000 1,599,600 0.30 Shenzhen Expressway Co Ltd 2,868,000 1,376,640 0.25 Wumart Stores Inc 654,000 582,060 0.11 Zhejiang Expressway Co Ltd 1,666,000 1,649,340 0.31 5,207,640 0.97 BERMUDA (0.92%) Catlin Group Ltd 36,133 317,248 0.06 Hiscox Ltd 108,654 1,260,386 0.23 Jardine Matheson Holdings Ltd 22,800 1,394,220 0.26 Pacific Basin Shipping Ltd 2,411,000 1,494,820 0.28 Wilson Sons Ltd 31,700 467,575 0.09 4,934,249 0.92 SWITZERLAND (0.72%) EFG International AG 75,000 834,750 0.15 Nobel Biocare Holding AG 205,570 3,048,603 0.57 3,883,353 0.72 FINLAND (0.72%) Outokumpu OYJ 5,030,061 1,861,122 0.35 Outotec Oyj Npv 180,097 2,004,480 0.37 3,865,602 0.72 PHILIPPINES (0.54%) Filinvest Land Inc 58,641,750 2,345,670 0.44 LT Group Inc 1,614,391 548,893 0.10 2,894,563 0.54 BELGIUM (0.51%) Arseus NV 38,250 2,054,025 0.38 EVS Broadcast Equipment SA 13,137 697,312 0.13 2,751,337 0.51 ISRAEL (0.51%) Delta-Galil Industries Ltd 27,600 834,072 0.16 Frutarom Industries Ltd 76,300 1,883,847 0.35 2,717,919 0.51 INDONESIA (0.49%) Bank Negara Indonesia Persero Tbk PT 6,363,400 2,608,994 0.49

16 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % POLAND (0.47%) CCC SA 38,850 1,527,971 0.28 Synthos SA 678,811 1,004,640 0.19 2,532,611 0.47 PANAMA (0.44%) Copa Holdings SA 10,050 1,443,080 0.27 Intercorp Financial Services Inc 27,000 891,000 0.17 2,334,080 0.44 SWEDEN (0.42%) CDON Group AB 401,324 1,689,574 0.31 Nobia AB 52,069 461,852 0.09 Opus Group AB 39,686 86,912 0.02 2,238,338 0.42 GABON (0.40%) Total Gabon 3,587 2,148,183 0.40

TURKEY (0.39%) Teknosa Ic Ve Dis Ticaret AS 108,400 598,368 0.11 Turkiye Sinai Kalkinma Bankasi AS 1,803,501 1,496,906 0.28 2,095,274 0.39 AUSTRIA (0.38%) Do & Co AG Npv 32,500 2,050,425 0.38

LUXEMBOURG (0.38%) Samsonite International SA 646,800 2,024,484 0.38

MARSHALL ISLANDS (0.29%) Scorpio Tankers Inc 177,330 1,571,144 0.29

CYPRUS (0.27%) Globaltrans Investment Plc 98,000 1,057,420 0.20 MD Medical Group Investments Plc 49,800 398,400 0.07 1,455,820 0.27 GUERNSEY (0.26%) Etalon Group Ltd 297,600 1,374,912 0.26

DENMARK (0.23%) DSV A/S 35,000 1,163,750 0.22 TDC A/S 5,000 48,350 0.01 1,212,100 0.23 RUSSIA (0.22%) Phosagro OAO 102,300 1,181,565 0.22

GREECE (0.21%) Hellenic Exchanges SA Holding Clearing Settlement and Registry 92,513 1,102,755 0.21

KAZAKHSTAN (0.20%) KCell JSC 67,800 1,050,222 0.20

MALAYSIA (0.20%) KSL Holdings BHD 1,478,700 1,005,516 0.19 KSL Holdings BHD WTS 149,300 43,297 0.01 1,048,813 0.20

17 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Portfolio Statement (continued)

As at 31 May 2014

The Portfolio of Investments - (analysed by geographical sector) Value of (Ordinary shares quoted unless otherwise stated) Fund Investment Holding $ % THAILAND (0.19%) Kasikornbank PCL 181,900 1,038,649 0.19

CHILE (0.06%) Masisa SA 6,293,000 314,650 0.06

AUSTRALIA (0.01%) Dart Energy Ltd 354,809 56,769 0.01 Gunns Ltd* 1,307,862 – – Gunns Ltd (Pref)* 1,013 – – 56,769 0.01 Total Value of Investments (Cost $460,456,310) 532,171,123 99.29

*Unquoted, the fair value is estimated with care and good faith by competent person and approved by the Manager, on behalf of the Directors.

Open Forward Foreign Exchange Contracts Unrealised Value of Counterparty Maturity Date Gain/(Loss) Fund % $ Gain Buy CHF 1,135 Sell USD 1,265 BNY Mellon 05/06/2014 1 0 .00

Buy USD 2,396 Sell CHF 2,130 BNY Mellon 05/06/2014 20 0 .00

Total unrealised gain on open forward foreign exchange contracts 21 0 .00

Loss Buy CHF 203,662 Sell USD 231,969 BNY Mellon 05/06/2014 (4,814) (0 .00)

Total unrealised loss on open forward foreign exchange contracts (4,814) (0 .00)

Total loss on open forward foreign exchange contracts (4,793) (0.00)

Total Financial assets (including derivatives) 532,171,144 99.29 Total Financial liabilities (including derivatives) (4,814) 0.00 Cash and Cash Equivalents (see note 5 for details) 1,023,969 0.19 Bank Overdraft (see note 5 for details) (940,993) (0 .18)

Adjustment from bid-market prices to mid-market prices 516,029 0.10 Other Net Current Assets 3,210,487 0.60 Total Value of the Fund at 31 May 2014 535,975,822 100.00

% of Analysis of total assets Total Assets Transferable securities admitted to an official stock exchange listing or dealt in on another regulated market. 98.05 Other assets 1.95 100.00

18 Invesco Funds Series 4 Invesco Global Small Cap Equity Fund Changes in the Composition of the Portfolio

For the six months ended 31 May 2014

Purchases Cost $ Sales Proceeds $ Edenred 3,674,583 Ziggo NV 4,203,057 Mediolanum SpA 3,377,398 Umicore SA 3,407,986 Acciona SA 3,338,625 GAGFAH SA 3,127,364 Umicore SA 3,120,551 Hoya Corp 3,082,302 Sumitomo Rubber Industries Ltd 3,086,855 Cairo Communication SpA 3,080,504 Unipres Corp 2,899,814 Recordati SpA 2,932,266 Banca IFIS SpA 2,803,744 Bolsas y Mercados Espanoles SA 2,920,726 Ipsen SA 2,759,019 Indra Sistemas SA 2,727,443 Salvatore Ferragamo SpA 2,585,595 Koninklijke Wessanen NV 2,583,683 Rexel SA 2,561,045 UPL Ltd 2,486,043 Solocal Group 2,310,565 Koninklijke BAM Groep NV 2,360,256 Havas SA 2,292,671 Hyundai Motor Co 2,230,870 Hudson's Bay Co 2,284,548 Havas SA 2,222,219 Tsugami Corp 2,162,899 Vetoquinol SA 2,183,791 Royal Imtech NV 2,151,082 Bull 2,176,489 MTU Aero Engines AG 2,066,362 Straumann Holding AG 2,129,893 Columbia Sportswear Co 1,988,142 Poltrona Frau SpA 2,050,849 Primoris Services Corp 1,986,227 Aimia Inc 2,027,727 Globus Medical Inc 1,984,636 Interpublic Group of Cos Inc 2,019,361 Heartland Express Inc 1,967,731 Yamaha Motor Co Ltd 1,986,825 Other Purchases 161,458,785 Other Sales 155,483,595 Total costs of purchases since 1 December 2013 $212,860,877 Total proceeds of sales since 1 December 2013 $207,423,249

19 Invesco Funds Series 4 Balance Sheet

As at 31 May 2014

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund Equity Fund Notes € $ Assets Cash and cash equivalents 5 7,277,004 1,023,969 Balances due from brokers 4,727,799 8,186,236 Amounts due on creations 10,558,672 5,103 Financial assets at fair value through profit or loss 6 742,891,008 532,171,144 Other accrued income and prepaid expenses 1,394,564 1,376,237 Total assets 766,849,047 542,762,689

Liabilities Bank overdraft 5 4,674,623 940,993 Balances due to brokers 5,275,100 4,349,058 Amounts due on liquidations 2,010,514 781,528 Financial liabilities at fair value through profit or loss 6 – 4,814 Management fee payable 1,162,054 553,113 Administrator's fee payable 212,824 159,502 Accrued expenses 59,249 513,888 Total liabilities (excluding net assets attributable to holders of Redeemable Participating Shares) 13,394,364 7,302,896

Net assets attributable to holders of redeemable participating Shares (bid prices) 753,454,683 535,459,793

Adjustment from bid prices to mid-market prices 1,228,152 516,029

Net assets attributable to holders of redeemable participating Shares (mid-market prices) 754,682,835 535,975,822

Net Asset Value per 'A' Shares (as expressed in USD) 229.74 124.30 Net Asset Value per 'A Acc-HGD CHF' Shares (as expressed in CHF) – 11.07 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 127.10 Net Asset Value per 'B' Shares (as expressed in USD) 204.76 110.71 Net Asset Value per 'C' Shares (as expressed in USD) 252.32 134.39 Net Asset Value per 'C Acc-HGD CHF' Shares (as expressed in CHF) – 11.12 Net Asset Value per 'Z' Shares 12.67 11.59 Net Asset Value per 'Z Acc - EUR' Shares (as expressed in EUR) – 11.40

The accompanying notes 1 to 12 on pages 29 to 34 form part of these financial statements.

20 Invesco Funds Series 4 Balance Sheet

As at 30 November 2013

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Assets Cash and cash equivalents 622,434 1,035,400 Balances due from brokers 2,949,240 469,939 Amounts due on creations 5,901,532 12,888,146 Financial assets at fair value through profit or loss 328,494,083 502,145,782 Other accrued income and prepaid expenses 232,766 551,463 Total assets 338,200,055 517,090,730

Liabilities Bank overdraft 1,712,916 – Balances due to brokers 8,587,263 3,259,153 Amounts due on liquidations 3,828,633 6,727,540 Financial liabilities at fair value through profit or loss – 78 Distribution payable 230 457,842 Management fee payable 532,975 601,544 Administrator's fee payable 85,399 169,167 Accrued expenses 56,292 140,769 Total liabilities (excluding net assets attributable to holders of Redeemable Participating Shares) 14,803,708 11,356,093

Net assets attributable to holders of redeemable participating Shares (bid prices) 323,396,347 505,734,637

Adjustment from bid prices to mid-market prices 420,342 872,614

Net assets attributable to holders of redeemable participating Shares (mid-market prices) 323,816,689 506,607,251

Net Asset Value per 'A' Shares (as expressed in USD) 200.88 118.88 Net Asset Value per 'A Acc-HGD CHF' Shares (as expressed in CHF) – 10.62 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 121.55 Net Asset Value per 'B' Shares (as expressed in USD) 179.92 106.28 Net Asset Value per 'C' Shares (as expressed in USD) 220.08 128.15 Net Asset Value per 'C Acc-HGD CHF' Shares (as expressed in CHF) – 10.62 Net Asset Value per 'Z' Shares 11.02 11.05 Net Asset Value per 'Z Acc - EUR' Shares (as expressed in EUR) – 10.87

*The functional and presentation currency of the Invesco Continental European Small Cap Equity Fund changed from US Dollar to Euro on 31 May 2013.

21 Invesco Funds Series 4 Balance Sheet

As at 31 May 2013

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Assets Cash and cash equivalents 1,392,230 4,187,921 Balances due from brokers 178,827 378,447 Amounts due on creations 1,015,712 675,678 Financial assets at fair value through profit or loss 72,813,886 411,605,289 Other accrued income and prepaid expenses 112,931 1,023,763 Total assets 75,513,586 417,871,098

Liabilities Bank overdraft – – Balances due to brokers 1,177 559,397 Amounts due on liquidations 86,740 177,669 Financial liabilities at fair value through profit or loss 232,551 – Management fee payable 20,611 88,619 Administrator's fee payable 4,360 25,945 Accrued expenses 37,242 111,076 Total liabilities (excluding net assets attributable to holders of Redeemable Participating Shares) 382,681 962,706

Net assets attributable to holders of redeemable participating Shares (bid prices) 75,130,905 416,908,392

Adjustment from bid prices to mid-market prices 136,762 757,101

Net assets attributable to holders of redeemable participating Shares (mid-market prices) 75,267,667 417,665,493

Net Asset Value per 'A' Shares (as expressed in USD) 125.19 106.14 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 108.69 Net Asset Value per 'B' Shares (as expressed in USD) 112.67 95.30 Net Asset Value per 'C' Shares (as expressed in USD) 136.81 114.31

*The comparative figures have been restated from US Dollar to Euro.

22 Invesco Funds Series 4 Income Statement

For the six months ended 31 May 2014

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund Equity Fund Notes € $ Revenue Interest income 1,883 2,188 Dividend income 7,562,058 5,604,461 Net gain on financial assets and liabilities at fair value through profit or loss (realised and unrealised) 6 57,705,622 24,487,447 Total investment income 65,269,563 30,094,096

Expenses Management fee 4,876,504 3,361,206 Administrator's fee 794,429 956,004 Trustee fee 16,912 17,708 Custodian fee 25,928 55,882 Auditor's fee 5,289 6,661 Other operating expenses 39,750 60,197 Total operating expenses 5,758,812 4,457,658

Operating profit 59,510,751 25,636,438

Finance costs Bank overdraft interest (18,118) (574) Total finance costs (18,118) (574)

Profit before tax 59,492,633 25,635,864

Withholding tax on dividends and other investment income (1,496,078) (738,079) Movement in provision for capital gains tax on investments – (380,350)

Increase in net assets attributable to holders of redeemable participating Shares (bid values) 57,996,555 24,517,435

Movement on adjustment from bid prices to mid market prices 807,810 (356,585)

Increase in net assets attributable to holders of redeemable participating Shares (mid market values) 58,804,365 24,160,850

The accompanying notes 1 to 12 on pages 29 to 34 form part of these financial statements.

The funds had not recognised gains or losses in the financial period other than those dealt with in the Profit and Loss Account. Gains and losses arose solely from continuing operations.

23 Invesco Funds Series 4 Income Statement

For the year ended 30 November 2013

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Revenue Interest income 6 5,853 Dividend income 1,832,700 7,686,839 Net gain on financial assets and liabilities at fair value through profit or loss (realised and unrealised) 33,081,367 112,299,003 Total investment income 34,914,073 119,991,695

Expenses Management fee 1,961,772 5,254,595 Administrator's fee 315,803 1,461,106 Trustee fee 6,262 25,051 Custodian fee 12,912 78,540 Auditor's fee 11,543 12,930 Other operating expenses 22,727 64,738 Total operating expenses 2,331,019 6,896,960

Operating profit 32,583,054 113,094,735

Finance costs Bank overdraft interest (3,318) (3,346) Distributions to holders of Redeemable Participating Shares (230) (457,842) Net equalisation 15,198 62,465 Total finance costs 11,650 (398,723)

Profit before tax 32,594,704 112,696,012

Withholding tax on dividends and other investment income (148,574) (1,123,676) Movement in provision for capital gains tax on investments – (43,799)

Increase in net assets attributable to holders of redeemable participating Shares (bid values) 32,446,130 111,528,537

Movement on adjustment from bid prices to mid market prices 61,988 (207,809)

Increase in net assets attributable to holders of redeemable participating Shares (mid market values) 32,508,118 111,320,728

*The functional and presentation currency of the Invesco Continental European Small Cap Equity Fund changed from US Dollar to Euro on 31 May 2013.

24 Invesco Funds Series 4 Income Statement

For the six months ended 31 May 2013

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Revenue Interest income 16 3,657 Dividend income 962,509 4,405,086 Net gain on financial assets and liabilities at fair value through profit or loss (realised and unrealised) 14,179,550 59,244,273 Total investment income 15,142,075 63,653,016

Expenses Management fee 644,052 2,423,110 Administrator's fee 104,555 672,510 Trustee fee 2,455 13,467 Custodian fee 5,598 31,919 Auditor's fee 4,510 6,448 Other operating expenses 20,502 31,206 Total operating expenses 781,672 3,178,660

Operating profit 14,360,403 60,474,356

Finance costs Bank overdraft interest (3,730) (865) Total finance costs (3,730) (865)

Profit before tax 14,356,673 60,473,491

Withholding tax on dividends and other investment income (159,753) (595,107) Movement in provision for capital gains tax on investments – 2,575

Increase in net assets attributable to holders of redeemable participating Shares (bid values) 14,196,920 59,880,959

Movement on adjustment from bid prices to mid market prices (219,421) (323,322)

Increase in net assets attributable to holders of redeemable participating Shares (mid market values) 13,977,499 59,557,637

*The comparative figures have been restated from US Dollar to Euro.

25 Invesco Funds Series 4 Statement of Changes in Net Assets attributable to Holders of Redeemable Participating Shares

For the six months ended 31 May 2014 Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund Equity Fund € $ Net assets attributable to holders of redeemable participating Shares at beginning of period (bid prices) 323,396,347 505,734,637

Adjustment from bid prices to mid-market prices 420,342 872,614

Net assets attributable to holders of redeemable participating Shares at beginning of period (mid-market prices) 323,816,689 506,607,251

Increase in net assets attributable to holders of redeemable participating Shares at bid prices 57,996,555 24,517,435

Movement on adjustment from bid prices to mid-market prices 807,810 (356,585)

Increase in net assets attributable to holders of redeemable participating Shares 58,804,365 24,160,850

Share Transactions Proceeds from redeemable participating Shares issued 493,564,335 116,307,060 Cost of redeemable participating Shares redeemed (121,502,554) (111,099,339)

Net assets attributable to holders of redeemable participating Shares at the end of period (mid-market prices) 754,682,835 535,975,822

26 Invesco Funds Series 4 Statement of Changes in Net Assets attributable to Holders of Redeemable Participating Shares

For the year ended 30 November 2013 Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Net assets attributable to holders of redeemable participating Shares at beginning of year (bid prices) 59,146,450 295,874,621

Adjustment from bid prices to mid-market prices 358,354 1,080,423

Net assets attributable to holders of redeemable participating Shares at beginning of year (mid-market prices) 59,504,804 296,955,044

Increase in net assets attributable to holders of redeemable participating Shares at bid prices 32,446,130 111,528,537

Movement on adjustment from bid prices to mid-market prices 61,988 (207,809)

Increase in net assets attributable to holders of redeemable participating Shares 32,508,118 111,320,728

Share Transactions Proceeds from redeemable participating Shares issued 274,811,906 268,872,852 Cost of redeemable participating Shares redeemed (43,461,016) (170,541,373)

Translation Adjustment 452,877 – Net assets attributable to holders of redeemable participating Shares at the end of year (mid-market prices) 323,816,689 506,607,251

*The functional and presentation currency of the Invesco Continental European Small Cap Equity Fund changed from US Dollar to Euro on 31 May 2013.

27 Invesco Funds Series 4 Statement of Changes in Net Assets attributable to Holders of Redeemable Participating Shares

For the six months ended 31 May 2013 Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ Net assets attributable to holders of redeemable participating Shares at beginning of period (bid prices) 59,146,434 295,874,621

Adjustment from bid prices to mid-market prices 358,354 1,080,423

Net assets attributable to holders of redeemable participating Shares at beginning of period (mid-market prices) 59,504,788 296,955,044

Increase in net assets attributable to holders of redeemable participating Shares at bid prices 14,196,920 59,880,959

Movement on adjustment from bid prices to mid-market prices (219,421) (323,322)

Increase in net assets attributable to holders of redeemable participating Shares 13,977,499 59,557,637

Share Transactions Proceeds from redeemable participating Shares issued 23,590,538 145,765,644 Cost of redeemable participating Shares redeemed (21,867,921) (84,612,832)

Translation Adjustment 62,763 – Net assets attributable to holders of redeemable participating Shares at the end of period (mid-market prices) 75,267,667 417,665,493

*The comparative figures have been restated from US Dollar to Euro.

28 Invesco Funds Series 4 Notes to the Financial Statements

For the six months ended 31 May 2014

1. Significant accounting policies

Basis of Preparation The principal exchange rates used: EUR€1.00 The condensed financial statements have been prepared under the historical cost convention as modified by the revaluation of financial assets 31 May 30 November 31 May and financial liabilities held at fair value through profit or loss. 2014 2013 2013 Australian Dollar 1.46 1.5 1.35 These condensed financial statements have been prepared in accordance Brazilian Real 3.03 3.16 2.74 with Irish law and pronouncements on half yearly reports issued by the Accounting Standards Board and the European Communities (UCITS) Canadian Dollar 1.47 1.44 1.34 Regulations, 2011, (as amended) (the “UCITS Regulations”). These Chilean Peso 748.21 721.56 643.33 condensed financial statements do not include all of the information Chinese Renminbi 8.50 8.29 7.97 required for full annual financial statements and should be read in Czech Koruna 27.47 27.39 25.74 conjunction with the annual financial statements for the year ended 30 Danish Krone 7.46 7.46 7.46 November 2013, which have been prepared in accordance with accounting Hong Kong Dollar 10.55 10.55 10.09 Standards generally accepted in Ireland. Hungarian Forint 302.54 301.53 295.65 Indian Rupee 80.43 85.05 73.39 The Funds have availed of the exemption permitted to open-ended Indonesian Rupiah 15,891.18 16,281.66 12,726.35 investment funds under FRS 1 not to prepare a cash flow statement. Israeli Shekel 4.73 4.79 4.79 Dividends, interest and capital gains received on investments made by the Japanese Yen 138.38 139.22 130.58 Funds may be subject to withholding taxes imposed by the country from Korean Won 1,388.62 1,440.41 1,467.79 which the investment income/gains are received and such taxes may not be Mexican Peso 17.48 17.81 16.77 recoverable by the Funds or its Shareholders. Malaysian Ringgit 4.37 4.39 4.03 New Zealand Dollar 1.60 1.67 1.62 Foreign currency translation Norwegian Kroner 8.15 8.34 7.63 (i) Functional and presentation currency Philippine Peso 59.56 59.58 54.92 Items included in each Funds’ financial statements are measured using the Pohsh Zloty 4.14 4.2 4.28 currency of the primary economic environment in which it operates ('the functional currency'). This is the US Dollar ($) for Invesco Global Small Cap Pound Sterling 0.81 0.83 0.85 Equity Fund and Euro (€) for Invesco Continental European Small Cap Equity Singapore Dollar 1.71 1.71 1.64 Fund. The US Dollar and Euro is also the presentation currency. South African Rand 14.22 13.91 13.16 Swedish Krona 9.09 8.91 8.59 (ii) Assets and liabilities in foreign currencies are translated into US Dollars Swiss Franc 1.22 1.23 1.24 or Euro at the rates of exchange ruling at the balance sheet date. Income Thai Baht 44.69 43.7 39.34 and expenditure transactions are translated at the rates of exchange ruling Taiwan Dollar 40.81 40.28 38.87 at the date of the transactions. Turkish Lira 2.85 2.75 2.45 The principal exchange rates used: US$1.00 US Dollar 1.36 1.36 1.30

31 May 30 November 31 May Restatement of Net Asset Value in accordance with FRS26 2014 2013 2013 To determine the net asset value of each Fund for subscriptions and Australian Dollar 1.07 1.09 1.04 redemptions, investments have been valued based on the mid market Brazilian Real 2.22 2.32 2.11 prices at 12.00pm (Irish time) on the relevant trading day. For Financial Canadian Dollar 1.08 1.06 1.03 Statements purposes, investments are valued based on bid market prices Chilean Peso 549.70 530.15 495.15 and an adjustment to mid market prices is shown. This adjustment from bid Chinese Renminbi 6.25 6.09 6.13 to mid for the period ended 31 May 2014 is shown in the Balance Sheet on Czech Koruna 20.18 20.13 19.81 page 20. The movement in the adjustment from the current period end to Danish Krone 5.48 5.48 5.74 the previous year end is shown in the Income Statement on page 23. Euro 0.73 0.73 0.77 Hong Kong Dollar 7.75 7.75 7.76 The net asset value per share is disclosed in note 7. Hungarian Forint 222.27 221.53 227.55 Indian Rupee 59.09 62.49 56.48 2. UK Reporting Indonesian Rupiah 11,675.00 11,962.50 9,795.00 Israeli Shekel 3.47 3.52 3.69 The following Share Classes currently have UK Reporting Status; Japanese Yen 101.66 102.29 100.51 Korean Won 1,020.20 1,058.30 1,129.70 Invesco Continental European Small Cap Equity Fund A, C and Z Mexican Peso 12.84 13.08 12.91 Malaysian Ringgit 3.21 3.22 3.10 Invesco Global Small Cap Equity Fund A, C and Z New Zealand Dollar 1.18 1.23 1.25 Norwegian Kroner 5.98 6.13 5.87 The Statement of Reportable Income for the financial year end 30 Philippine Peso 43.75 43.77 42.27 November 2013 is available through the following Invesco websites. Polish Zloty 3.04 3.09 3.29 Pound Sterling 0.60 0.61 0.66 http://investor.invescointernational.co.uk/portal/site/iiprivate/reportableincome/ Singapore Dollar 1.25 1.26 1.26 http://professional.invescointernational.co.uk/portal/site/iiadviser/reportableincome South African Rand 10.45 10.22 10.13 Swedish Krona 6.68 6.54 6.61 Swiss Franc 0.90 0.90 0.95 Thai Baht 32.83 32.11 30.28 Taiwan Dollar 29.99 29.59 29.92 Turkish Lira 2.09 2.02 1.88

29 Invesco Funds Series 4 Notes to the Financial Statements (Continued)

For the six months ended 31 May 2014

3. Soft Commission and Related Party Transactions The Funds, consistent with obtaining the best net result, including best execution, may enter into agreements with counterparties whereby those counterparties may make payments for investment services provided to the Funds.

Investment services are used by the Funds to improve or add to the services provided to its clients. Although each and every service may not be used to service each and every account managed by the Funds, the Funds considers that those investment services received are, in the aggregate, of significant assistance in fulfilling its investment responsibilities and are of demonstrable benefit to all clients. Only services that in the opinion of the Manager assist in the provision of investment services to the Funds’ clients will be paid for by counterparties.

Allowable investment services include services that provide assistance to the Funds in its investment performance. Those services include, but are not necessarily limited to, furnishing analysis, research and advisory services including economic factors and trends, portfolio valuation and analysis, performance measurement, market prices services and the use of specialised computer software and hardware or other information facilities. The Funds select counterparties to execute transactions on the basis that transactions will only be executed provided the placing of orders will not operate against the best interest of the Funds’ clients and that the multiple is at a level which is generally accepted market practice. The Funds will endeavour to obtain best execution on all transactions for all clients.

In addition, clients may direct the Funds to pay commission to counterparties for products and services that would otherwise have to be paid for. In such cases, the commission is used for the exclusive benefit of the client whose transactions generated that commission.

The Funds will endeavour to maintain the highest possible regulatory standards world-wide.

The Manager, Administrator and Global Distributor, Invesco Global Asset Management Limited are deemed to be Related Parties under Financial Reporting Standard No. 8. Fees charged, out of the Fund, by the Manager and Administrator fees are disclosed in the Income Statement on page 23. Amounts payable at the year end are disclosed in the Balance Sheet on page 20. The Manager may pay a portion of its administration fees to BNY Mellon Fund Services (Ireland) Limited, the Sub-Administrator, in consideration for the Sub-Administrator providing certain administration functions to the Funds. Fees to the Global Distributor are paid from the Management fee.

For the period under review, in the normal course of managing the fund, there were purchases and sales of investments between Invesco Continental European Small Cap Equity Fund, Invesco Global Small Cap Equity Fund and other Invesco managed funds. These transactions were traded at fair value on the date of the trade.

The Manager, Invesco Global Asset Management Limited is a wholly owned subsidiary of Invesco UK Limited, which is a wholly owned subsidiary of Invesco Limited, the group parent company.

Director’s fees are not paid from the Funds.

There were no Director’s holdings in the Funds for the period under review.

Invesco UK Limited held a beneficial interest in the shares representing approximately the following percentages of the total number of shares in issue of the relevant fund class.

30 Invesco Funds Series 4 Notes to the Financial Statements (Continued)

For the six months ended 31 May 2014

3. Soft Commission and Related Party Transactions (continued)

Seed Capital Invesco UK Limited held the following redeemable participating Shares in the Funds and class as detailed below:

Number of Shares at Number of Shares Number of Shares Number of Shares at Percentage the start of the period acquired in redeemed in the period end of Total the period period Shares % For the Period ended 31 May 2014 Invesco Continental European Small Cap Equity Fund ‘A’ Shares 1,348 – 496 851 0 Invesco Continental European Small Cap Equity Fund ‘Z’ Shares 523 – – 523 0 Invesco Global Small Cap Equity Fund ‘A Acc HKD’ Shares 467 – – 467 14 Invesco Global Small Cap Equity Fund ‘A Acc CHF’ Shares 9,255 – – 9,255 100 Invesco Global Small Cap Equity Fund ‘B’ Shares 11 – – 11 100 Invesco Global Small Cap Equity Fund ‘C Acc CHF’ Shares 9,256 – – 9,256 100 Invesco Global Small Cap Equity Fund ‘Z’ Shares 700 – – 700 0 Invesco Global Small Cap Equity Fund ‘Z’ EUR Shares 523 – – 523 0

Number of Shares at Number of Shares Number of Shares Number of Shares at Percentage the start of the year acquired in redeemed in year end of Total the year the year Shares % For the Year ended 30 November 2013 Invesco Continental European Small Cap Equity Fund ‘A’ Shares – 1,348 – 1,348 0 Invesco Continental European Small Cap Equity Fund ‘Z’ Shares – 523 – 523 0 Invesco Global Small Cap Equity Fund ‘A Acc HKD’ Shares 467 – – 467 15 Invesco Global Small Cap Equity Fund ‘A Acc CHF’ Shares – 9,255 – 9,255 100 Invesco Global Small Cap Equity Fund ‘B’ Shares 11 – – 11 100 Invesco Global Small Cap Equity Fund ‘C Acc CHF’ Shares – 9,256 – 9,256 100 Invesco Global Small Cap Equity Fund ‘Z’ Shares – 700 – 700 0 Invesco Global Small Cap Equity Fund ‘Z’ EUR Shares – 523 – 523 0

Number of Shares at Number of Shares Number of Shares Number of Shares at Percentage the start of the period acquired in redeemed in the period end of Total the period period Shares % For the Priod ended 31 May 2013 Invesco Global Small Cap Equity Fund 'A-Acc HKD' Shares 467 – – 467 15 Invesco Global Small Cap Equity Fund 'B' Shares 11 – – 11 100

4. Transactions with Connected Parties

The Directors of the Manager are satisfied that there are arrangements (evidenced by written procedures) in place, to ensure that the obligations set out in paragraph 1 of UCITS Notice 14.5 are applied to all transactions with connected parties.

The Directors of the Manager are satisfied that transactions with connected parties entered into during the year complied with the obligations set out in paragraph 1 of UCITS Notice 14.5. A connected party is defined as the promoter, manager, trustee, investment adviser and/or associated or group companies of these.

5. Cash and Cash Equivalents

Credit Ratings Invesco Continental Invesco Global Small European Small Cap Cap Equity S&P Moody’s Equity Fund* Fund € $ 31 May 2014 Cash balances were on deposit and bank overdrafts with the bank listed below at the balance sheet date:

The Bank of New York Mellon A-1+ P1 2,602,381 82,976 2,602,381 82,976 Within the 2014 amounts above €4,674,623 in Invesco Continental European Small Cap Equity Fund and $940,993 in Invesco Global Small Cap Equity Fund were included as bank overdrafts.

31 Invesco Funds Series 4 Notes to the Financial Statements (Continued)

For the six months ended 31 May 2014

5. Cash and Cash Equivalents (continued)

Invesco Continental Invesco Global Small Credit Ratings European Small Cap Cap Equity S&P Moody’s Equity Fund* Fund € $ 30 November 2013 Cash balances were on deposit and bank overdrafts with the bank listed below at the balance sheet date:

The Bank of New York Mellon A-1+ P1 (1,090,482) 1,035,400 (1,090,482) 1,035,400

Within the 2013 amounts above $1,712,916 in Invesco Continental European Small Cap Equity Fund and $Nil in Invesco Global Small Cap Equity Fund were included as bank overdrafts.

Credit Ratings Invesco Continental Invesco Global Small European Small Cap Cap Equity S&P Moody’s Equity Fund* Fund € $ 31 May 2013 Cash balances were on deposit and bank overdrafts with the bank listed below at the balance sheet date:

The Bank of New York Mellon A-1+ P1 1,392,230 4,187,921 1,392,230 4,187,921 *The comparative figures have been restated from US Dollar to Euro.

6. Net Gains and Losses on Investment and Currency

Realised and Realised and Realised and unrealised unrealised unrealised gains/(losses) gains/(losses) gains/(losses) charged to charged to charged to Fair Value profit and loss Fair Value profit and loss Fair Value profit and loss 31 May 2014 31 May 2014 30 November 2013* 30 November 2013* 31 May 2013** 31 May 2013** € € € € € € Invesco Continental European Small Cap Equity Fund Equities 738,459,133 60,499,177 327,830,208 34,733,267 72,247,541 13,631,251 Forward contracts – (577,098) – (623,508) 152,139 667,755 Future contracts – – – – – – Currency – 426,160 – 418,570 – (149,390) Options 4,431,875 (2,629,062) 663,875 (1,426,375) 414,206 39,526 Transaction costs – (13,555) – (20,587) – (9,592) 742,891,008 57,705,622 328,494,083 33,081,367 72,813,886 14,179,550

Liabilities Unrealised loss on Forward Contracts – – (232,551) Unrealised loss on Future Contracts – – –

*For the 30 November 2013 the fair value comparative figures have been restated from US Dollar to Euro at a rate of 0.77. The Realised and Unrealised figures have been restated from US Dollar to Euro at an average rate of 0.78.

**For the 31 May 2013 the fair value comparative figures have been restated from US Dollar to Euro at a rate of 0.77. The Realised and Unrealised figures have been restated from US Dollar to Euro at an average rate of 0.76.

32 Invesco Funds Series 4 Notes to the Financial Statements (Continued)

For the six months ended 31 May 2014

6. Net Gains and Losses on Investment and Currency (continued)

Realised and Realised and Realised and unrealised unrealised unrealised gains/(losses) gains/(losses) gains/(losses) charged to charged to charged to Fair Value profit and loss Fair Value profit and loss Fair Value profit and loss 31 May 2014 31 May 2014 30 November 2013 30 November 2013 31 May 2013 31 May 2013 $ $ $ $ $ $ Invesco Global Small Cap Equity Fund Equities 532,171,123 24,587,849 502,145,645 112,521,781 411,605,289 59,358,459 Forward contracts 21 (47,099) 137 32,226 – 34,515 Currency – (21,313) – (172,163) – (113,378) Transaction costs – (31,990) – (82,841) – (35,323) 532,171,144 24,487,447 502,145,782 112,299,003 411,605,289 59,244,273

Liabilities Unrealised loss on Forward Contracts (4,814) (78) –

7. Shares in Issue Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund Equity Fund € $ 31 May 2014 'A' Shares 3,856,870 1,837,470 Net Asset Value per 'A' Shares (as expressed in USD) 229.74 124.30 'A Acc-HGD CHF' Shares – 9,256 Net Asset Value per 'A Acc-HGD CHF' Shares (as expressed in CHF) – 11.07 'A-Acc HKD' Shares – 3,221 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 127.10 'B' Shares 3,007 11 Net Asset Value per 'B' Shares (as expressed in USD) 204.76 110.71 'C' Shares 521,937 2,149,093 Net Asset Value per 'C' Shares (as expressed in USD) 252.32 134.39 'C Acc-HGD CHF' Shares – 9,256 Net Asset Value per 'C Acc-HGD CHF' Shares (as expressed in CHF) – 11.12 'Z' Shares 526,195 1,408,894 Net Asset Value per 'Z' Shares 12.67 11.59 'Z Acc - EUR' Shares – 137,936 Net Asset Value per 'Z Acc - EUR' Shares (as expressed in EUR) – 11.40

Invesco Continental Invesco Global European Small Small Cap Cap Equity Fund* Equity Fund € $ 30 November 2013 'A' Shares 1,749,037 2,221,605 Net Asset Value per 'A' Shares (as expressed in USD) 200.88 118.88 'A Acc-HGD CHF' Shares – 9,256 Net Asset Value per 'A Acc-HGD CHF' Shares (as expressed in CHF) – 10.62 'A-Acc HKD' Shares – 3,221 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 121.55 'B' Shares 352 11 Net Asset Value per 'B' Shares (as expressed in USD) 179.92 106.28 'C' Shares 401,596 1,755,643 Net Asset Value per 'C' Shares (as expressed in USD) 220.08 128.15 'C Acc-HGD CHF' Shares – 9,256 Net Asset Value per 'C Acc-HGD CHF' Shares (as expressed in CHF) – 10.62 'Z' Shares 62,094 1,375,177 Net Asset Value per 'Z' Shares 11.02 11.05 'Z Acc - EUR' Shares – 139,262 Net Asset Value per 'Z Acc - EUR' Shares (as expressed in EUR) – 10.87

33 Invesco Funds Series 4 Notes to the Financial Statements (Continued)

For the six months ended 31 May 2014

7. Shares in Issue (continued)

Invesco Invesco Global Continental Small Cap European Small Equity Fund Cap Equity Fund* € $ 31 May 2013 'A' Shares 411,994 2,234,889 Net Asset Value per 'A' Shares (as expressed in USD) 125.19 106.14 'A-Acc HKD' Shares – 3,221 Net Asset Value per 'A-Acc HKD' Shares (as expressed in HKD) – 108.69 'B' Shares 188 11 Net Asset Value per 'B' Shares (as expressed in USD) 112.67 95.30 'C' Shares 173,004 1,578,223 Net Asset Value per 'C' Shares (as expressed in USD) 136.81 114.31

*The NAV per share has been restated from US Dollar to Euro.

8. Stock Lending

There were no securities held for stock lending as at 31 May 2014, 30 November 2013 or 31 May 2013.

9. Distribution to ‘A’, ‘B’, ‘C’ and ‘Z’ Shareholders Invesco Invesco Continental Global European Small Cap Small Cap Equity Fund Equity Fund

Distribution per Share (paid 21 January 2014) Type of Share A (as expressed in USD) n/a n/a B (as expressed in USD) n/a n/a C (as expressed in USD) n/a 0.2600 Z (as expressed in EUR) 0.0037 0.0010

Distribution per Share (paid 23 January 2013) Type of Share A (as expressed in USD) 0.2289 0.0416 B (as expressed in USD) n/a n/a C (as expressed in USD) 0.8647 0.5344

10. Significant Events during the Period

There were no significant events during the six months ended 31 May 2014.

11. Subsequent Events

There were no subsequent events since the six months ended 31 May 2014.

12. Approval of Financial Statements

The financial statements were approved by the Directors of the Manager on 22 July 2014.

34 Invesco Funds Series 4 Statement of the Manager’s and Trustee’s Responsibilities

The Manager is required under the European Communities (Undertakings The Trustee is required under the UCITS Regulations to:- for Collective Investment in Transferable Securities) Regulations 2011 (the “UCITS Regulations”), to prepare Financial Statements for each financial 1. ensure that the sale, issue, repurchase, redemption and cancellation of period reporting the financial position of each Fund in the Invesco Funds Shares effected by or on behalf of the Funds are carried out in Series 4 (“the Series”) as at the end of the accounting period and of its accordance with the UCITS Regulations and in accordance with the income/excess of expenditure over income for the period. In preparing Trust Deed. those financial statements, the Manager: 2. ensure that the value of shares is calculated in accordance with the − ensures that the Financial Statements comply with the Trust Deed, Regulations and the Trust Deed. Accounting Standards generally accepted in Ireland and applicable accounting standards subject to any material departures which are 3. carry out the instructions of the Manager unless they conflict with the disclosed and explained in the financial statements; UCITS Regulations or the Trust Deed. − selects suitable accounting policies and then applies them consistently; − makes judgements and estimates that are reasonable and prudent; 4. ensure that where transactions involve the Funds’ assets, any − prepares the Financial Statements on a going concern basis unless it is consideration is remitted to the Fund within time limits which are inappropriate to presume that the Series will continue in operation; and acceptable market practice for such a transaction. − s responsible for taking reasonable steps for the prevention and detection of fraud, error, or non-compliance with laws or the UCITS 5. ensure that the Funds’ income is applied in accordance with the UCITS Regulations, and other irregularities. Regulations and the Trust Deed.

The Manager is required to keep proper accounting records and to manage 6. enquire into the conduct of the Manager in each annual accounting the Series in accordance with the UCITS Regulations, the Hong Kong Code period and report thereon to the Shareholders. The Trustee's report on Unit Trusts, Mutual Funds and the Trust Deed. shall be delivered to the Manager in good time to enable the Manager to include a copy of the report in its Interim Report. The Trustee's Report The Directors and the Board of the Manager of the Series are responsible shall state whether in the Trustee's opinion the Funds have been for the maintenance and integrity of the information related to the Series on managed in that period: the Invesco website. Information on the internet is accessible in many (i) in accordance with the limitations imposed on the investment and countries with different legal requirements. Legislation in Ireland governing borrowing powers of the Manager and Trustee by the Trust Deed the preparation and dissemination of financial statements may differ from and the UCITS Regulations; and legislation in other jurisdictions. (ii) otherwise in accordance with the provisions of the Trust Deed and the UCITS Regulations.

If the Manager does not comply with (i) or (ii) above, the Trustee must state why this is the case and outline the steps which the Trustee has taken to rectify the situation.

The Trustee must notify the Central Bank of Ireland promptly of any material breach of the UCITS Regulations, conditions imposed by the Central Bank of Ireland or provisions of the prospectus of the Fund.

The duties provided for above may not be delegated by the Trustee to a third party. These duties must be carried out in Ireland.

The Trustee also takes into its custody or under its control all the assets of the Funds and holds them in safekeeping for the Shareholders.

35 Invesco Funds Series 4 Invesco Global Asset Management Limited

Directors United Kingdom Representative C. Majer (German) Invesco Global Investment Funds Limited B. Collins (Irish, Independent Director) (Registered office until 31 January 2014) L. Schmidt (American) 30 Finsbury Square O. Carroll (Irish) EC2A 1AG London C. O’Sullivan (Irish) United Kingdom M. Boulanger (French) D. Sharp (Canadian) (Registered office from 1 February 2014) Perpetual Park Global Distributor, Registrar, Manager and Administrator Perpetual Park Drive Invesco Global Asset Management Limited Henley-on-Thames Registered Office Oxfordshire RG9 1HH George’s Quay House United Kingdom 43 Townsend Street Dublin 2, Ireland Independent Auditors of the Fund and Management Company Auditors Correspondence address for Global Distributor PricewaterhouseCoopers Invesco Global Asset Management Limited Chartered Accountants and Registered Auditors 78 Sir John Rogersons Quay One Spencer Dock Dublin 2 North Wall Quay Ireland Dublin I Ireland Registrar and Transfer Agent International Financial Data Services (Ireland) Limited Investment Adviser to Invesco Continental European Small Cap Equity Fund 78 Sir John Rogersons Quay and Invesco Global Small Cap Equity Fund. Dublin 2 Invesco Asset Management Limited Ireland (Registered office until 31 January 2014) 30 Finsbury Square Sub-Administrator EC2A 1AG London BNY Mellon Fund Services (Ireland) Limited United Kingdom Guild House Guild Street (Registered office from 1 February 2014) International Financial Services Centre Perpetual Park Dublin 1 Perpetual Park Drive Ireland Henley-on-Thames Oxfordshire RG9 1HH Secretary United Kingdom Invesco Asset Management Limited (Registered office until 31 January 2014) Austrian Distributor 30 Finsbury Square Invesco Asset Management Osterreich GmbH EC2A 1AG London Rotenturmstraße 16-18 United Kingdom A-1010 Vienna Austria (Registered office from 1 February 2014) Perpetual Park Austrian Paying Agent Perpetual Park Drive Erste Bank der oesterreichischen Sparkassen AG Henley-on-Thames Graben 21 Oxfordshire RG9 1HH 1010 Vienna United Kingdom Austria

Trustee German Paying Agent BNY Mellon Trust Company (Ireland) Limited BNP Paribas Securitas Services S.C.A. Guild House Zweigniederlassung Frankfurt am Main Guild Street Europa-Allee 12 International Financial Services Centre D-60327 Frankfurt am Main Dublin 1 Germany Ireland Legal Advisor Hong Kong Sub-Distributor and Representative Matheson Invesco Asset Management Asia Limited 70 Sir John Rogerson’s Quay 41/F Citibank Tower Dublin 2 3 Garden Road, Central Ireland Hong Kong The latest Financial Statements are also available through Invesco's Internet Site German Information Agent www.invesco.com. For Shareholders in Hong Kong please refer to www.invesco.com.hk Invesco Asset Management Deutschland GmbH Registered Office An der Welle 5 D-60322 Frankfurt am Main Germany

36 Invesco Funds Series 4

Contact Us

Invesco Global Asset Management Limited Manager/Global Distributor, George’s Quay House 43 Townsend Street, Dublin 2, Ireland Telephone: +353 1 439 8000 Website: www.invesco.com

Invesco Asset Management Asia Limited Hong Kong Sub-Distributor and Representative 41/F Citibank Tower 3 Garden Road, Central Hong Kong Telephone: + 852 3128 6000 Facsimile : + 852 3128 6001 Website: www.invesco.com.hk