Invesco India Aggressive Hybrid FundDirect Reinvestment of Income Dist cum Capital Wtdrl INF205K015Q4

Invesco India Aggressive Hybrid earns an Average Process Pillar rating.

The leading factor in the rating is the fund's strong long-term risk-adjusted performance. This can be seen in its five-year alpha calculated relative to the category index, which suggests that the managers have shown skill in their allocation of risk. The size of the portfolio management team also bolsters the process. With three portfolio managers, the fund is reasonably well-resourced. However, the process is limited by its parent firm's disappointing risk-adjusted performance, as shown by the firm's average 10-year Morningstar Rating of 2.8 stars. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

Its equity sleeve has a consistent bias toward both smaller market-cap and growth-oriented companies versus category peers. The strategy has three region or sector biases compared to category peers. The most notable is its consistent underexposure to the communication services sector. It also maintains an overweight position in the consumer cyclical sector. And finally, the portfolio has a consistent and large overweight in the industrials sector.

The portfolio is overweight in consumer cyclical and technology relative to the category average by 6.7 and 4.3 percentage points, respectively. The sectors with low exposure compared with category peers are energy and financial services, underweight the average by 6.2 and 4.3 percentage points of assets, respectively.