Benefits of investing in the Invesco Wholesale Senior Secured Income Fund

The Fund offers a range of features and benefits:

• Access to a specialist global investment manager with significant resources and expertise whose only business is to manage investments on behalf of its investors;

• The Fund generally pays distributions monthly;

• Access to investment opportunities and diversification that individual investors usually cannot achieve on their own;

• Access to one of the largest and most experienced loan management teams in the market that have worked through multiple credit cycles; and

• The ability to regularly access your funds (typically daily).

Invesco also provides a number of features to help you better manage and track your investments:

• Website updates;

• View account information online; and

• Regular reports.

Additional features for non mFund investors:

• The ability to provide instructions by fax; and

• The ability to switch to other Invesco funds, transfer your holdings to another investor and appoint an authorised representative.

About the Fund

The Fund invests into the underlying Invesco Zodiac Fund whose investment horizon looks across a full credit cycle with the view that returns are maximised over the longer run for all private, credit-sensitive assets such as bank loans.

Bank loans offer investors: stable current income streams, priority repayment, duration risk mitigation via a floating interest rate, high levels of transparency, low correlation with other asset classes, and may hedge inflation and mitigate volatility in rising interest rate environments. Bank loans are also typically secured by a lien against the assets of the borrower. Unlike traditional bonds, bank loans are structured with floating rates, which means their coupons regularly adjust to changes in the base rate and therefore duration is low.

The Underlying Fund is managed by Invesco Senior Secured Management Inc., one of the world's largest institutional managers of senior secured bank loans. The senior members of the Senior Secured Loans team has a blend of deep experience and strong stability, having worked together for more than 14 years. The investment process is active, fundamental and highly disciplined. The portfolio is biased to more liquid positions in the upper mid-to-large cap segment of the bank loans market. The team's investment style is driven by: 1) individual bottom-up credit selection; and 2) top-down macro risk positioning tied to broader economic trends.

Investment Objective

The Fund aims to provide a high level of stable monthly income, preserve capital and achieve a gross return of cash plus 4% p.a. over rolling three year periods.

About Invesco Australia

Invesco Ltd. is one of the world's leading specialist investment managers. The firm has funds under management of more than US$1,180 billion globally (as at 30 September 2019) and operates in over 20 countries. Invesco is listed on the New York Stock Exchange under the symbol IVZ'.

Invesco Ltd. has more than 8,000 staff including 800-plus investment professionals managing a broad array of specialised investment strategies - ranging from major equity, fixed income, and property assets to alternative assets such as direct real estate, bank loans, multi strategy, private equity and commodities. These capabilities are delivered through numerous investment centres worldwide designed around distinctive asset classes, styles or regional expertise.

In Australia, Invesco has been managing and/or distributing investment portfolios for more than 20 years. Headquartered in Melbourne, our investment capabilities include Australian equities (large cap long-only and long/short; and small cap); fixed income (senior secured loans); global equities (fundamental high conviction); alternatives (multi asset; direct property); and listed property.

How we invest your money

The Fund invests primarily in senior, secured loans to non-investment grade corporations domiciled in the US or Europe with interest rates that float at a spread above London Interbank Offered Rate and reset on average approximately every 60 days.

Our investment approach is a fundamental investment style that is driven by bottom up credit selection and top down macro risk positioning tied to broader economic trends.

When selecting companies, we focus on those who have capable management teams, consistent and dependable sources of cash flow and reliable collateral packages providing a second source of repayment if required.

The underlying investments are managed by our New York and London offices, with supervision and monitoring undertaken by our Melbourne office.

We may use derivatives in the management of the Fund, but will not use derivatives for gearing purposes or speculative activities.

The Fund is permitted to borrow and to grant security over its assets. We do not intend to borrow or raise money in connection with the Fund for investment purposes, but may from time to time borrow for administrative purposes such as to cover timing differences between settlement of sales and purchases of underlying securities, and funding withdrawals.

Typical Asset Class Exposure

• Securities: 95%

• Cash: 5%

The Fund seeks to generally be fully invested.