INVESCO Global Health Sciences Fund - Monthly Update Through March 31, 2001

Apr 18, 2001, 01:00 ET from INVESCO Global Health Sciences Fund

    DENVER, April 18 /PRNewswire/ --
 
     Portfolio News
     March was a difficult month for equity markets, as heightened concerns
 over slowing economic growth and weakening corporate earnings triggered a
 broad market sell-off.
     Pharmaceutical companies, despite their track record for stable earnings,
 were not immune to the March sell-off.  However, it is important to note that
 the sell-off in the pharmaceutical sector was not a reflection of
 deteriorating fundamentals or earnings warnings issued by pharmaceutical
 companies.  Consequently, as market sentiment becomes more reasoned, we
 believe that investors will again recognize the earnings stability offered by
 these companies.  Among the stocks we favor in this sector is Pfizer Inc.
 (5.3% of the portfolio), which benefits from one of the industry's highest
 growth rates, a strong portfolio of existing products and a promising pipeline
 of drugs under development.  Another standout is Pharmacia Corp. (5.1%), a
 global pharmaceutical company with a solid, diverse product line that is
 emerging as the definitive market leader in the treatment of arthritis.  We
 believe Pharmacia is well positioned for continued strong revenue growth,
 improving operating margins and healthy earnings growth.
     We have taken advantage of the recent sell-off to selectively add to our
 biotech exposure, focusing on companies that have products either already on
 the market or in late-stage trials.  This strategy reflects our view that the
 biotech sector continues to offer the best long-term growth potential of the
 health sciences sectors.  Among the stocks we favor is Genentech Inc. (4.5%),
 which already has two successful cancer drugs on the market and has an
 exceptionally strong pipeline of new products.
     The Board of Trustees of the Fund has determined that it will ask
 shareholders to vote on a proposal to reorganize the Fund from a closed-end
 investment company to an open-end investment company.  The proposal is
 contained in a proxy statement mailed to shareholders of record at the close
 of business on March 9, 2001.  For further information, call 1-800-528-8765.
 
     Private Placement Update
     In March, the Fund made private placement investments in NeoThermia and a
 Caresoft bridge note.
 
 
     Fund Performance
 
                                       Share Price           NAV
      Year-to-Date                        (22.92%)         (24.92%)
      1 Year                               (3.28)           (8.13)
      3 Year Avg. Annualized                8.62             4.58
 
      PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
 
      *  Total return assumes reinvestment of dividends and capital gain
         distributions.
 
 
     Portfolio Summary
 
      Total Net Assets               $593,020,940.07
      Share Price                             $13.08
      NAV                                     $14.03
      Discount                                 (6.77%)
 
 
     Top Ten Holdings*
 
                                           % of TNA
 
      Pfizer Inc                              5.3%
      Pharmacia Corp                          5.1
      Bristol-Myers Squibb                    4.9
      Genentech Inc                           4.5
      Merck & Co                              4.2
      IDEC Pharmaceuticals                    4.0
      Aventis SA Sponsored ADR                3.4
      MedImmune Inc                           3.4
      Novartis AG Sponsored ADR               3.2
      Teva Pharmaceutical Industries          3.2
       Sponsored ADR
 
 
     Sector Breakdown*
 
                                         % of TNA        Restricted
      Pharmaceuticals                       46.5%             0.0%
      Biotechnology                         27.6              4.9
      Medical Devices and Supplies          18.0              4.6
      Health Care Delivery                  (1.0)             1.5
      Net Cash & Cash Equivalents            8.9
      Total                                100.0%            11.0%
      Total Number of Securities              95
      Total Number of Restricted
       Securities                             34
 
 
     Country Breakdown*
 
                             % of TNA                          % of TNA
             France             4.0%      United Kingdom           3.1%
             Israel             3.2       United States           75.3
             Japan              2.3       Net Cash & Cash
             Switzerland        3.2        Equivalents             8.9
                                          Total                  100.0%
 
      *  Holdings and composition of holdings are subject to change.
 
 
     INVESCO Global Health Sciences Fund (NYSE:   GHS) is a diversified
 closed-end investment company managed by INVESCO Funds Group, Inc.  Its
 investment objective is to seek capital appreciation by investing
 substantially all of its assets in equity and related securities of U.S. and
 foreign companies presently engaged in the development, production and
 distribution of products and services related to the health sciences.  Shares
 of the Fund can be purchased by contacting your local investment professional,
 or for additional information please feel free to contact INVESCO at
 1-800-528-8765 or visit the Fund's website at ghs.invesco.com.
 
 

SOURCE INVESCO Global Health Sciences Fund
    DENVER, April 18 /PRNewswire/ --
 
     Portfolio News
     March was a difficult month for equity markets, as heightened concerns
 over slowing economic growth and weakening corporate earnings triggered a
 broad market sell-off.
     Pharmaceutical companies, despite their track record for stable earnings,
 were not immune to the March sell-off.  However, it is important to note that
 the sell-off in the pharmaceutical sector was not a reflection of
 deteriorating fundamentals or earnings warnings issued by pharmaceutical
 companies.  Consequently, as market sentiment becomes more reasoned, we
 believe that investors will again recognize the earnings stability offered by
 these companies.  Among the stocks we favor in this sector is Pfizer Inc.
 (5.3% of the portfolio), which benefits from one of the industry's highest
 growth rates, a strong portfolio of existing products and a promising pipeline
 of drugs under development.  Another standout is Pharmacia Corp. (5.1%), a
 global pharmaceutical company with a solid, diverse product line that is
 emerging as the definitive market leader in the treatment of arthritis.  We
 believe Pharmacia is well positioned for continued strong revenue growth,
 improving operating margins and healthy earnings growth.
     We have taken advantage of the recent sell-off to selectively add to our
 biotech exposure, focusing on companies that have products either already on
 the market or in late-stage trials.  This strategy reflects our view that the
 biotech sector continues to offer the best long-term growth potential of the
 health sciences sectors.  Among the stocks we favor is Genentech Inc. (4.5%),
 which already has two successful cancer drugs on the market and has an
 exceptionally strong pipeline of new products.
     The Board of Trustees of the Fund has determined that it will ask
 shareholders to vote on a proposal to reorganize the Fund from a closed-end
 investment company to an open-end investment company.  The proposal is
 contained in a proxy statement mailed to shareholders of record at the close
 of business on March 9, 2001.  For further information, call 1-800-528-8765.
 
     Private Placement Update
     In March, the Fund made private placement investments in NeoThermia and a
 Caresoft bridge note.
 
 
     Fund Performance
 
                                       Share Price           NAV
      Year-to-Date                        (22.92%)         (24.92%)
      1 Year                               (3.28)           (8.13)
      3 Year Avg. Annualized                8.62             4.58
 
      PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
 
      *  Total return assumes reinvestment of dividends and capital gain
         distributions.
 
 
     Portfolio Summary
 
      Total Net Assets               $593,020,940.07
      Share Price                             $13.08
      NAV                                     $14.03
      Discount                                 (6.77%)
 
 
     Top Ten Holdings*
 
                                           % of TNA
 
      Pfizer Inc                              5.3%
      Pharmacia Corp                          5.1
      Bristol-Myers Squibb                    4.9
      Genentech Inc                           4.5
      Merck & Co                              4.2
      IDEC Pharmaceuticals                    4.0
      Aventis SA Sponsored ADR                3.4
      MedImmune Inc                           3.4
      Novartis AG Sponsored ADR               3.2
      Teva Pharmaceutical Industries          3.2
       Sponsored ADR
 
 
     Sector Breakdown*
 
                                         % of TNA        Restricted
      Pharmaceuticals                       46.5%             0.0%
      Biotechnology                         27.6              4.9
      Medical Devices and Supplies          18.0              4.6
      Health Care Delivery                  (1.0)             1.5
      Net Cash & Cash Equivalents            8.9
      Total                                100.0%            11.0%
      Total Number of Securities              95
      Total Number of Restricted
       Securities                             34
 
 
     Country Breakdown*
 
                             % of TNA                          % of TNA
             France             4.0%      United Kingdom           3.1%
             Israel             3.2       United States           75.3
             Japan              2.3       Net Cash & Cash
             Switzerland        3.2        Equivalents             8.9
                                          Total                  100.0%
 
      *  Holdings and composition of holdings are subject to change.
 
 
     INVESCO Global Health Sciences Fund (NYSE:   GHS) is a diversified
 closed-end investment company managed by INVESCO Funds Group, Inc.  Its
 investment objective is to seek capital appreciation by investing
 substantially all of its assets in equity and related securities of U.S. and
 foreign companies presently engaged in the development, production and
 distribution of products and services related to the health sciences.  Shares
 of the Fund can be purchased by contacting your local investment professional,
 or for additional information please feel free to contact INVESCO at
 1-800-528-8765 or visit the Fund's website at ghs.invesco.com.
 
 SOURCE  INVESCO Global Health Sciences Fund