Group 1: Company Overview - Invesco Ltd. is a leading global asset management firm with US$2.2 trillion in assets under management as of December 31, 2025 [8] - Invesco Private Markets manages $131 billion in assets under management (AUM) as of December 31, 2025, focusing on private real estate, private credit, and alternative investment solutions [5] - Invesco Real Estate, part of Invesco Private Markets, has $84.2 billion in real estate assets under management as of September 30, 2025 [6] Group 2: Product Launch - Invesco announced the launch of the Invesco Core Plus Real Estate Trust, a collective investment trust designed for defined contribution plans to access private real estate [1][2] - The Trust is managed by Invesco Trust Company and sub-advised by Invesco Advisers, Inc., aimed at a broad range of plan types and sizes [2] Group 3: Market Trends and Insights - Private market strategies, including real estate, have gained attention among retirement plan sponsors, with less than 1% allocation in defined contribution plans according to industry surveys [3] - Insights from Invesco's 2026 Defined Contribution Participant Pulse Survey indicate that over 85% of participants are interested in private market investments in their employer-sponsored retirement plans [4]

U.S. Retirement System Challenges - U.S Social Security is facing insolvency by 2033, potentially leading to a 20% benefit cut if the trust fund runs short [1] - The U S retirement system received a C+ rating from the Mercer CFA Institute Global Pension Index in 2024, indicating a solid system with significant risks [1][2] - 401(k) system may not be effective as funds are often withdrawn before retirement for various needs [3] - By 2050, the world could face a $400 trillion shortfall in retirement savings, with the U S being a major contributor to this problem [29] - In 2019, the estimated loss of savings due to 401(k) cash outs ranged from $60 billion to $105 billion [19] Global Comparison and Solutions - Countries are raising retirement ages and requiring mandatory contributions to address issues like longer lifespans and fewer workers paying into the system [4] - A grade retirement systems often feature a net replacement rate of at least 65% for median income earners, private pension coverage of at least 80% of the working-age population, and pension contributions of at least 12% of wages [5][6] - The Netherlands, with its mandatory contributions, serves as a model, transitioning from defined benefit to defined contribution plans [7][9][10] - Australia's mandatory defined contribution plan, covering everyone, is highlighted as a successful approach [11] U.S. Strengths and Weaknesses - U S retirement plan assets are 250% (two and a half times) the median of OECD countries, indicating high savings rates [14] - Despite high savings, the median retirement savings for baby boomers is zero, highlighting inequality [15] - While 70% of U S workers had access to a retirement plan as of March 2023, only 53% participated, indicating a coverage issue [17] - The U S system's voluntary nature and allowance of pre-retirement withdrawals are criticized, but the high savings rates and retirement incomes suggest some success [10][13][34]