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0.021 0.031 0.021 0.132 0.012 0.043 0.021 0.033 0.042 0.023 0.184 0.088 0.011 0.111 0.031 0.011 0.190 0.024 0.083 0.097 0.079 0.111 0.125 0.046 0.082 0.218 0.013 0.238 0000356476 false N-CSRS EMPOWER FUNDS, INC. 2024-06-28 Empower Emerging Markets Equity Fund Institutional Class MXENX This semi-annual shareholder report contains important information about the Empower Emerging Markets Equity Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="break-inside:avoid;"> <div style="margin-bottom:10pt;"> <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div> <div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div> </div> </div> <div style="margin-bottom:10pt;"> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower Emerging Markets Equity Fund<br/> (Institutional Class/MXENX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>91.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> </table> </div> </div> 91.00 0.0091 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div> <div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>1,203M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>359<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>4.5M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>28<span>%</span></td> </tr> </table> 1203000000 359 4500000 0.28 <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div> </div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">9.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Tencent Holdings Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Samsung Electronics Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Alibaba Group Holding Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MediaTek Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.79<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ICICI Bank Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Meituan Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.24<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Delta Electronics Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.18<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Kia Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">0.98<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610068.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">9.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Tencent Holdings Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Samsung Electronics Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Alibaba Group Holding Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MediaTek Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.79<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ICICI Bank Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Meituan Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.24<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Delta Electronics Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.18<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Kia Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">0.98<span>%</span></td> </tr> </table> 0.0961 0.0483 0.0483 0.0186 0.0179 0.0133 0.0124 0.0118 0.0105 0.0098 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> </div> <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> </div> Empower Emerging Markets Equity Fund Investor Class MXEOX This semi-annual shareholder report contains important information about the Empower Emerging Markets Equity Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="break-inside:avoid;"> <div style="margin-bottom:10pt;"> <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div> <div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div> </div> </div> <div style="margin-bottom:10pt;"> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower Emerging Markets Equity Fund<br/> (Investor Class/MXEOX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>126.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">1.26<span>%</span></td> </tr> </table> </div> </div> 126.00 0.0126 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div> <div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>1,203M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>359<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>4.5M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>28<span>%</span></td> </tr> </table> 1203000000 359 4500000 0.28 <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div> </div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">9.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Tencent Holdings Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Samsung Electronics Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Alibaba Group Holding Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MediaTek Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.79<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ICICI Bank Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Meituan Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.24<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Delta Electronics Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.18<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Kia Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">0.98<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610035.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">9.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Tencent Holdings Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Samsung Electronics Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Alibaba Group Holding Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MediaTek Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.79<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ICICI Bank Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Meituan Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.24<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Delta Electronics Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.18<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Kia Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">0.98<span>%</span></td> </tr> </table> 0.0961 0.0483 0.0483 0.0186 0.0179 0.0133 0.0124 0.0118 0.0105 0.0098 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> </div> <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> </div> Empower International Growth Fund Institutional Class MXHTX This semi-annual shareholder report contains important information about the Empower International Growth Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="break-inside:avoid;"> <div style="margin-bottom:10pt;"> <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div> <div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div> </div> </div> <div style="margin-bottom:10pt;"> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Growth Fund<br/> (Institutional Class/MXHTX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>85.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">0.85<span>%</span></td> </tr> </table> </div> </div> 85.00 0.0085 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>507M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>95<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2.0M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>21<span>%</span></td> </tr> </table> 507000000 95 2000000.0 0.21 <div style="break-inside:avoid;"> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div> </div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Keywords Studios PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.04<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MercadoLibre Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.90<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Daiichi Sankyo Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.89<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Safran SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Puma SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Recruit Holdings Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.76<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610194.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Keywords Studios PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.04<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MercadoLibre Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.90<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Daiichi Sankyo Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.89<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Safran SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Puma SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Recruit Holdings Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.76<span>%</span></td> </tr> </table> 0.0496 0.0349 0.0211 0.0204 0.0196 0.0190 0.0189 0.0188 0.0183 0.0176 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> </div> <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> </div> Empower International Growth Fund Investor Class MXIGX This semi-annual shareholder report contains important information about the Empower International Growth Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Growth Fund<br/> (Investor Class/MXIGX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>120.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">1.20<span>%</span></td> </tr> </table> 120.00 0.0120 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>507M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>95<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2.0M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>21<span>%</span></td> </tr> </table> 507000000 95 2000000.0 0.21 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Keywords Studios PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.04<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MercadoLibre Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.90<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Daiichi Sankyo Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.89<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Safran SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Puma SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Recruit Holdings Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.76<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610203.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">4.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Keywords Studios PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.04<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">MercadoLibre Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.96<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.90<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Daiichi Sankyo Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.89<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Safran SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Puma SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Recruit Holdings Co Ltd</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.76<span>%</span></td> </tr> </table> 0.0496 0.0349 0.0211 0.0204 0.0196 0.0190 0.0189 0.0188 0.0183 0.0176 <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> </div> <div style="break-inside:avoid;"> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div> <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> </div> Empower International Index Fund Institutional Class MXPBX This semi-annual shareholder report contains important information about the Empower International Index Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Index Fund<br/> (Institutional Class/MXPBX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>26.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">0.26<span>%</span></td> </tr> </table> 26.00 0.0026 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2,125M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>798<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2.1M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>2<span>%</span></td> </tr> </table> 2125000000 798 2100000 0.02 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.69<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.35<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">U.S. Treasury Bills 5.29%</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">AstraZeneca PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Shell PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.32<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Toyota Motor Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.22<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">SAP SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.21<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610152.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.69<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.35<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">U.S. Treasury Bills 5.29%</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">AstraZeneca PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Shell PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.32<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Toyota Motor Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.22<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">SAP SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.21<span>%</span></td> </tr> </table> 0.0269 0.0254 0.0235 0.0203 0.0157 0.0139 0.0132 0.0125 0.0122 0.0121 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> Empower International Index Fund Investor Class MXINX This semi-annual shareholder report contains important information about the Empower International Index Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Index Fund<br/> (Investor Class/MXINX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>62.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">0.62<span>%</span></td> </tr> </table> 62.00 0.0062 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2,125M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>798<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>2.1M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>2<span>%</span></td> </tr> </table> 2125000000 798 2100000 0.02 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.69<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.35<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">U.S. Treasury Bills 5.29%</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">AstraZeneca PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Shell PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.32<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Toyota Motor Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.22<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">SAP SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.21<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610161.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novo Nordisk A/S Class B</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.69<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">ASML Holding NV</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.35<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">U.S. Treasury Bills 5.29%</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Nestle SA</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">AstraZeneca PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Shell PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.32<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Toyota Motor Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">LVMH Moet Hennessy Louis Vuitton SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.22<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">SAP SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.21<span>%</span></td> </tr> </table> 0.0269 0.0254 0.0235 0.0203 0.0157 0.0139 0.0132 0.0125 0.0122 0.0121 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> Empower International Value Fund Institutional Class MXJVX This semi-annual shareholder report contains important information about the Empower International Value Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Value Fund<br/> (Institutional Class/MXJVX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>71.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">0.71<span>%</span></td> </tr> </table> 71.00 0.0071 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>1,211M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>295<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>4.1M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>12<span>%</span></td> </tr> </table> 1211000000 295 4100000 0.12 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">TotalEnergies SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.38<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">NatWest Group PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.68<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd Sponsored ADR</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Schneider Electric SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Cadence Design Systems Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Franco-Nevada Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Roche Holding AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novartis AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">UBS Group AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.28<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610110.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">TotalEnergies SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.38<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">NatWest Group PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.68<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd Sponsored ADR</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Schneider Electric SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Cadence Design Systems Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Franco-Nevada Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Roche Holding AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novartis AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">UBS Group AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.28<span>%</span></td> </tr> </table> 0.0325 0.0238 0.0168 0.0166 0.0161 0.0149 0.0139 0.0136 0.0130 0.0128 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div> Empower International Value Fund Investor Class MXIVX This semi-annual shareholder report contains important information about the Empower International Value Fund (the "Fund") for the period of January 1, 2024, to June 28, 2024. semi-annual shareholder report You can find additional information about the Fund at <span>https://www.empower.com/investments/empower-funds/fund-documents</span>. You may also request this information by contacting us at (866)-831-7129. https://www.empower.com/investments/empower-funds/fund-documents (866)-831-7129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;"> <b>Fund Expenses</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; font-family: 'Arial'; text-align: left; vertical-align: bottom;">Fund (Class)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">Empower International Value Fund<br/> (Investor Class/MXIVX)</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;"> <span style="float:none">$</span>107.00</td> <td style="page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom;">1.07<span>%</span></td> </tr> </table> 107.00 0.0107 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:10pt;"> <b>Key Fund Statistics</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">The following table outlines key fund statistics that you should pay attention to.</div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>1,211M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>295<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Total advisory fee paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="float:none">$</span>4.1M<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; color: rgb(0, 0, 0); text-align: left; font-family: 'FiraSans-Medium'; font-weight: bold; font-size: 9pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;"> <span style="visibility:hidden;display:none;float:none">$</span>12<span>%</span></td> </tr> </table> 1211000000 295 4100000 0.12 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;" title="oef:HoldingsTableTextBlock"> <b>Graphical Representation of Holdings</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">The tables below show the investment makeup of the Fund, representing percentage of the total investments<span style="white-space:nowrap"> </span>of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">TotalEnergies SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.38<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">NatWest Group PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.68<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd Sponsored ADR</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Schneider Electric SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Cadence Design Systems Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Franco-Nevada Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Roche Holding AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novartis AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">UBS Group AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.28<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-bottom:5pt;font-weight:bold;margin-top:3pt;"> <b>Geographical Allocation</b> </div><div style="padding-left:10pt;padding-right:0px;"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_610119.jpg" style="width: 301pt;"/> </div> <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 65, 133);letter-spacing:1.25px;text-transform:uppercase;font-size:9pt;border-bottom-color:rgb(140, 160, 170);text-align:center;padding-bottom:5pt;margin-top:5pt;font-weight:bold;margin-bottom:0px;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Dreyfus Institutional Preferred Government Money Market Fund Institutional Class</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">3.25<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">TotalEnergies SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">2.38<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">NatWest Group PLC</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.68<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Taiwan Semiconductor Manufacturing Co Ltd Sponsored ADR</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Schneider Electric SE</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.61<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Cadence Design Systems Inc</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Franco-Nevada Corp</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.39<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Roche Holding AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(140, 160, 170)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">Novartis AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">UBS Group AG</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt;">1.28<span>%</span></td> </tr> </table> 0.0325 0.0238 0.0168 0.0166 0.0161 0.0149 0.0139 0.0136 0.0130 0.0128 <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:20pt;" title="oef:MaterialFundChngTextBlock"> <b>Material Fund Changes</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:7.5pt;text-align:justify;">There were no material changes to the Fund during the reporting period.</div> <div style="font-family:'arial';color:rgb(0, 65, 133);font-size:12pt;font-weight:bold;margin-bottom:3pt;margin-top:4pt;" title="stop"> <b>Changes in and Disagreements with Accountants</b> </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;margin-bottom:10pt;text-align:justify;">There were no changes in or disagreements with the Fund's accountants during the reporting period.</div>