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Historical Asset Class Returns

The following tables demonstrate the challenges investors face when attempting to predict the next top-performing asset class. Given the volatility in today's market, no one can know which one will be this year's success story. However, investors may reduce downside risk and increase upside potential by investing in a diversified group of asset classes based on individual risk tolerance and financial goals.

Fixed Income Asset Class Returns

2002 Best Performers 2003 2004 2005 2006 2007 2008 2009 2010 2011 Avg.

Intl. Bond 22.37% Govt. Bond 11.50% Corporate Bond 10.12% Municipal Bond 9.60% Mortgage 8.75% Short-Term Treasury 6.28% Senior Loan 0.94% High Yield

High Yield 28.97% Equity 28.67% Intl. Bond 19.36% Corporate Bond 8.24% Senior Loan 9.53% Municipal Bond 5.31% Mortgage 3.07% Short-Term Treasury 2.81% Govt. Bond 2.36%

Intl. Bond 12.55% High Yield 11.13% Equity 10.87% Corporate Bond 5.39% Mortgage 4.70% Municipal Bond 4.48% Senior Loan 4.77% Govt. Bond 3.48% Short-Term Treasury 1.30%

Equity 4.91% Senior Loan 4.50% Municipal Bond 3.51% High Yield 2.74% Govt. Bond 2.65% Mortgage 2.61% Short-Term Treasury 1.77% Corporate Bond 1.68% Intl. Bond ­8.65%

Equity 15.78% High Yield 11.85% Intl. Bond 8.16% Senior Loan 6.67% Mortgage 5.22% Municipal Bond 4.84% Corporate Bond 4.30% Short-Term Treasury 4.25% Govt. Bond 3.48% · · · · ·

Intl. Bond 11.03% Govt. Bond 8.66% Mortgage 6.96% Short-Term Treasury 6.83% Equity 5.49% Corporate Bond 4.56% Municipal Bond 3.36% High Yield 1.87% Senior Loan 1.14%

Govt. Bond 12.39% Mortgage 8.52% Short-Term Treasury 4.97% Intl. Bond 4.40% Municipal Bond ­2.47% Corporate Bond ­4.94% High Yield ­26.16% Senior Loan ­27.86% Equity ­36.99%

High Yield 58.21% Senior Loan 40.27% Equity 26.47% Corporate Bond 18.68% Municipal Bond 12.91% Intl. Bond 7.53% Mortgage 5.75% Short-Term Treasury 3.82% Govt. Bond ­2.20%

High Yield 15.12% Equity 15.08% Senior Loan 9.30% Corporate Bond 9.00% Govt. Bond 5.52% Mortgage 5.50% Intl. Bond 4.94% Short-Term Treasury 2.80% Municipal Bond 2.38%

Municipal Bond 10.70% Govt. Bond 9.02% Corporate Bond 8.15% Mortgage 6.32% High Yield 4.98% Intl. Bond 4.36% Equity 2.09% Short-Term Treasury 1.5% Senior Loan 1.23%

High Yield 10.73% Intl. Bond 8.61% Corporate Bond 6.52% Mortgage 5.74% Govt. Bond 5.69% Municipal Bond 5.46% Senior Loan 5.05% Equity 5.03% Short-Term Treasury 3.64%

Worst Performers

­1.41% Equity ­22.09%

· Senior Loan -- Lipper Loan Participation Category Average · Short-Term Treasury -- Barclays Capital 1-3 Year Government/Credit Index · High Yield -- Barclays Capital U.S. Corporate High Yield Index · Mortgage -- Barclays Capital U.S. MBS Fixed Rate Index Source: Lipper Inc.

Corporate Bond -- Barclays Capital Corporate Investment Grade Index Government Bond -- Barclays Capital U.S. Government Index Municipal Bond -- Barclays Capital Municipal Bond Index International Bond -- Barclays Capital Global Aggregate ex-U.S. Index Equity -- S&P 500 Index

The table depicts annual returns for eight Fixed Income asset classes and one equity benchmark over the past 10 years, ranked from best to worst each year. Each asset class is color coded for easy tracking. Well-known, industry-standard indexes are used as proxies for each asset class. This chart is for illustrative purposes and does not reflect the performance of any Invesco portfolio.

Equity Asset Class Returns

1992 Best Performers 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

Small Caps 18.41% Mid Caps 16.34% Real Estate 14.59% Large-Cap Value 13.58% Fixed Income 7.40% Large-Cap Growth 4.99% Comm. 4.42% Intl. Equity ­12.17%

Intl. Equity 32.56% Real Estate 19.65% Small Caps 18.88% Large-Cap Value 18.07% Mid Caps 14.30% Fixed Income 9.75% Large-Cap Growth 2.87% Comm. ­12.33%

Intl. Equity 7.78% Comm. 5.29% Real Estate 3.17% Large-Cap Growth 2.62% Small Caps ­1.82% Large-Cap Value ­1.98% Mid Caps ­2.09% Fixed Income ­2.92%

Large-Cap Value 38.36% Large-Cap Growth 37.18% Mid Caps 34.45% Small Caps 28.45% Comm. 20.33% Fixed Income 18.47% Real Estate 15.27% Intl. Equity 11.21%

Real Estate 35.27% Comm. 33.92% Large-Cap Growth 23.12% Large-Cap Value 21.64% Mid Caps 19.00% Small Caps 16.49% Intl. Equity 6.05% Fixed Income 3.63% · · · ·

Large-Cap Value 35.18% Large-Cap Growth 30.49% Mid Caps 29.01% Small Caps 22.36% Real Estate 20.26% Fixed Income 9.65% Intl. Equity 1.78% Comm. ­14.07%

Large-Cap Growth 38.71% Intl. Equity 20.00% Large-Cap Value 15.63% Mid Caps 10.09% Fixed Income 8.69% Small Caps ­2.55% Real Estate ­17.50% Comm. ­35.75%

Comm. 40.92% Large-Cap Growth 33.16% Intl. Equity 26.96% Small Caps 21.26% Mid Caps 18.23% Large-Cap Value 7.35% Fixed Income ­0.82% Real Estate ­4.62%

Comm. 49.74% Real Estate 26.37% Fixed Income 11.63% Mid Caps 8.25% Large-Cap Value 7.01% Small Caps ­3.02% Intl. Equity ­14.17% Large-Cap Growth ­22.42%

Real Estate 13.93% Fixed Income 8.44% Small Caps 2.49% Large-Cap Value ­5.59% Mid Caps ­5.62% Large-Cap Growth ­20.42% Intl. Equity ­21.44% Comm. ­31.93%

Comm. 32.07% Fixed Income 10.25% Real Estate 3.82% Large-Cap Value ­15.52% Intl. Equity ­15.94% Mid Caps ­16.19% Small Caps ­20.48% Large-Cap Growth ­27.88%

Worst Performers

· Large-Cap Growth -- Russell 1000 Growth Index · Large-Cap Value -- Russell 1000 Value Index · Mid Caps -- Russell Midcap Index · Small Caps -- Russell 2000 Index Sources: Invesco, Bloomberg L.P., Lipper Inc.

International Equity -- MSCI EAFE Index Real Estate -- FTSE NAREIT All Equity Index Commodities -- S&P GSCI Index Fixed Income -- Barclays Capital U.S. Aggregate Index

2003

2004

2005

2006

2007

2008

2009

2010

2011

Avg.

Small Caps 47.25% Mid Caps 40.06% Intl. Equity 38.59% Real Estate 37.13% Large-Cap Value 30.03% Large-Cap Growth 29.75% Comm. 20.72% Fixed Income 4.10%

Real Estate 31.58% Intl. Equity 20.25% Mid Caps 20.22% Small Caps 18.33% Comm. 17.28% Large-Cap Value 16.49% Large-Cap Growth 6.30% Fixed Income 4.34%

Comm. 25.55% Intl. Equity 13.54% Mid Caps 12.65% Real Estate 12.16% Large-Cap Value 7.05% Large-Cap Growth 5.26% Small Caps 4.55% Fixed Income 2.43%

Real Estate 35.06% Intl. Equity 26.34% Large-Cap Value 22.25% Small Caps 18.37% Mid Caps 15.26% Large-Cap Growth 9.07% Fixed Income 4.33% Comm. ­15.09%

Comm. 32.67% Large-Cap Growth 11.81% Intl. Equity 11.17% Fixed Income 6.97% Mid Caps 5.60% Large-Cap Value ­0.17% Small Caps ­1.57% Real Estate ­15.69%

Fixed Income 5.24% Small Caps ­33.79% Large-Cap Value ­36.85% Real Estate ­37.73% Large-Cap Growth ­38.44% Mid Caps ­41.46% Intl. Equity ­43.38% Comm. ­46.49%

Mid Caps 40.48% Large-Cap Growth 37.21% Intl. Equity 31.78% Real Estate 27.99% Small Caps 27.17% Large-Cap Value 19.69% Comm. 13.49% Fixed Income 5.93%

Real Estate 27.95% Small Caps 26.85% Mid Caps 25.48% Large-Cap Growth 16.71% Large-Cap Value 15.51% Comm. 9.03% Intl. Equity 7.75% Fixed Income 6.54%

Real Estate 8.28% Fixed Income 7.84% Large-Cap Growth 2.64% Large-Cap Value 0.39% Comm. -1.18% Mid Caps -1.55% Small Caps -4.18% Intl. Equity -12.14%

Real Estate 12.85% Mid Caps 12.13% Large-Cap Value 10.41% Small Caps 10.17% Large-Cap Growth 9.14% Comm. 7.43% Intl. Equity 6.83% Fixed Income 6.59%

The table depicts annual returns for seven equity asset classes and one Fixed Income benchmark over the past 20 years, ranked from best to worst each year. Each asset class is color coded for easy tracking. Well-known, industry-standard indexes are used as proxies for each asset class. This chart is for illustrative purposes and does not reflect the performance of any Invesco portfolio.

About risk Prices of equity securities change in response to many factors, including the historical and prospective earnings of the issuer, the value of its assets, general economic conditions, interest rates, investor perceptions and market liquidity. Fixed Income investments have interest rate risk, which refers to the risk that bond prices generally fall as interest rates rise and vice versa. Foreign securities have additional risks, including exchange rate changes, political and economic upheaval, relative lack of information, relatively low market liquidity, and the potential lack of strict financial and accounting controls and standards. Investing in smaller companies involves risks not associated with investing in more established companies, such as business risk, stock price fluctuations and illiquidity. Investments in narrow sectors such as real estate or commodities my be subject to more volatility than more diversified investments.

Invesco Advisers, Inc. is an investment advisor; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail mutual funds, exchange-traded funds and institutional money market funds. Both are wholly owned, indirect subsidiaries of Invesco Ltd. An investor should consider the investment objectives, risks, charges and expenses carefully before investing. Please read the prospectus or other offering documents carefully before investing. For this and more complete information, contact your financial advisor or visit the appropriate website. For Advisory services: institutional.invesco.com For Collective trust funds: invesconationaltrust.com For mutual funds, exchange-traded funds, money market funds: invesco.com/fundprospectus

Past performance cannot guarantee future results. Asset allocation/diversification does not guarantee a profit or eliminate the risk of loss. The Russell 1000® Growth Index is an unmanaged index considered representative of large-cap growth stocks. The Russell 1000® Value Index is an unmanaged index considered representative of large-cap value stocks. The Russell Midcap® Index is an unmanaged index considered representative of mid-cap stocks. The Russell 2000® Index is an unmanaged index considered representative of small-cap stocks. The MSCI EAFE® Index is an unmanaged index considered representative of stocks of Europe, Australasia and the Far East. The FTSE NAREIT All Equity REITs Index is an unmanaged index considered representative of U.S. REITs. The S&P GSCI Index is an unmanaged world production-weighted index composed of the principal physical commodities that are the subject of active, liquid futures markets. The Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market. The Barclays Capital 1­3 Year Government/Credit Index is an unmanaged index considered representative of short-term U.S. corporate and government bonds with maturities from one to three years. The Barclays Capital U.S. Corporate High Yield Index is an unmanaged index that covers the universe of fixed-rate, noninvestment-grade debt. The Barclays Capital U.S. MBS Fixed Rate Index is an unmanaged index comprising 15- and 30-year fixed-rate securities backed by mortgage pools of Ginnie Mae, Freddie Mac and Fannie Mae. The Barclays Capital Corporate Investment Grade Index is an unmanaged index considered representative of fixed-rate, investment-grade taxable bond debt. The Barclays Capital U.S. Government Index is an unmanaged index considered representative of Fixed Income obligations issued by the U.S. Treasury, government agencies and quasi-federal corporations. The Barclays Capital Municipal Bond Index is an unmanaged index considered representative of the tax-exempt bond market. The Barclays Capital Global Aggregate ex-U.S. Index is an unmanaged index considered representative of bonds of foreign countries. The S&P 500® Index is an unmanaged index considered representative of the U.S. stock market. The Lipper Loan Participation Category Average Index is an unmanaged index considered representative of an average of all of the funds in the Lipper Loan Participation Funds category. The Russell 1000 Growth Index, Russell 1000 Value Index, Russell Midcap Index and Russell 2000 Index are trademarks/service marks of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co. Index performance reflects reinvestment of dividends but does not reflect any fees, expenses, or sales charges. An investment cannot be made directly in an index.

HAR-BRO-1 02/12 Invesco Distributors, Inc. Invesco Advisers, Inc. 2832

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