At the close of trading on April 17, 2020, Invesco merged $693 million Invesco Oppenheimer Real Estate fund into the $1.2 billion Invesco Real Estate fund. This merger was announced in December 2019 as part of the consolidation of Invesco's fund lineup following its acquisition of OppenheimerFunds in mid-2019 and wasn't expected to be completed until May or June 2020. It happened now in order to allow for a tax-free reorganization of the combined fund, but in order to do that, the two funds made taxable distributions to shareholders totaling about 10% of net asset value. The merger increases the size of Invesco Real Estate by more than 50%, but doesn't change the fund's Morningstar Analyst Rating of Neutral across all share classes.
Will IARAX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable IARAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the IARAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of IARAX’s parent organization’s priorities and whether they’re in line with investors’ interests.