Invesco Intermediate Term Municipal Income is managed by a collaborative team that leans heavily on the supporting muni credit research group. The team’s resources are adequate for its bold mandate, but the strategy lacks a competitive advantage over peers. It earns a Morningstar Analyst Rating of Neutral across all but the most expensive share class, which is rated Negative.
Will VKLCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VKLCX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the VKLCX 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 VKLCX’s parent organization’s priorities and whether they’re in line with investors’ interests.