div style="line-height:11.0pt; text-align:left"span style="color:#000000; font-family:Arial Narrow; font-size:10pt"The Fund is a “fund of funds,” and may invest its assets in underlying open-end and closed-end funds (including unlisted interval funds) advised by Invesco Advisers, Inc. (Invesco or the Adviser), including exchange-traded funds (ETFs), and other pooled investment vehicles advised by Invesco Capital Management LLC (Invesco Capital), or underlying open-end and closed-end funds, including ETFs, and other pooled investment vehicles advised by unaffiliated advisers (the underlying funds). Invesco and Invesco Capital are affiliates of each other as they are both indirect wholly-owned subsidiaries of Invesco Ltd. The Fund invests its assets in a selection of underlying funds which invest primarily in international or domestic equities and fixed-income securities. The Fund’s target allocation is to invest 60%-70% of its total assets in underlying funds that invest primarily in fixed-income securities and 30%-40% of its total assets in underlying funds that invest primarily in equity securities, which may include real estate investment trusts (REITs). The Fund primarily invests in affiliated funds advised by Invesco and Invesco Capital, but may invest in unaffiliated funds when the Adviser determines such investment is desirable./spanspan style="color:#000000; font-family:Arial Narrow; font-size:10pt; line-height:11pt" /span/div div style="line-height:11.0pt; text-align:left"span style="color:#000000; font-family:Arial Narrow; font-size:10pt; margin-left:15pt"The Adviser uses a three-step process to create the Fund's portfolio /spanspan style="color:#000000; font-family:Arial Narrow; font-size:10pt"including: (1) determining strategic return drivers among broad asset classes; (2) the actual selection by the Adviser of underlying funds to represent the broad asset classes and the determination by the Adviser of target weightings in these underlying funds; in the case where there are multiple funds in a broad asset class, the Adviser attempts to balance the amount of active risk contributed by each underlying fund in order to determine the allocation; and (3) the ongoing monitoring of the Fund's asset class allocations, underlying funds and target weightings in the underlying funds./spanspan style="color:#000000; font-family:Arial Narrow; font-size:10pt; line-height:11pt" /span/div div style="line-height:11.0pt; text-align:left"span style="color:#000000; font-family:Arial Narrow; font-size:10pt; margin-left:15pt"The Adviser rebalances the Fund’s investments in the underlying funds /spanspan style="color:#000000; font-family:Arial Narrow; font-size:10pt"on a periodic basis to keep them at their target weightings. Although the Adviser has the ability to rebalance on a more frequent basis if it believes it is appropriate to do so, the Fund’s asset class weightings may not match the above percentage weightings during a quarter due to market fluctuations, cash flows and other factors. The Adviser may change the Fund’s asset class allocations, the underlying funds or the target weightings in the underlying funds without notice to, or approval by, shareholders./span/div