AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS) (Form: 485BPOS, Received: 06/27/2011 12:52:30)

Portfolio Manager

Length of Service on the Fund

James Leach

Portfolio Manager

Investment Objective(s)

The Fund’s investment objective is long-term growth of capital.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Invesco Funds. More information about these and other discounts is available from your financial professional and in the section “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” on page A-3 of the prospectus and the section “Purchase, Redemption and Pricing of Shares—Purchase and Redemption of Shares” on page L-1 of the statement of additional information (SAI).

Shareholder Fees (fees paid directly from your investment)

Class:

Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

5.50

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			R			Y			Investor

Management Fees		0.55	%		0.55	%		0.55	%		0.55	%		0.55	%		0.55	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			0.50			None			0.25

Other Expenses		0.33			0.33			0.33			0.33			0.33			0.33

Total Annual Fund Operating Expenses		1.13			1.88			1.88			1.38			0.88			1.13

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	659	$	889	$	1,138	$	1,849

Class B		691		891		1,216		2,005

Class C		291		591		1,016		2,201

Class R		140		437		755		1,657

Class Y		90		281		488		1,084

Investor Class		115		359		622		1,375

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	659	$	889	$	1,138	$	1,849

Class B		191		591		1,016		2,005

Class C		191		591		1,016		2,201

Class R		140		437		755		1,657

Class Y		90		281		488		1,084

Investor Class		115		359		622		1,375

Principal Investment Strategies of the Fund

The Fund invests primarily in equity securities of mid-capitalization issuers.

The Fund may invest up to 25% of its total assets in foreign securities.

The Adviser uses a bottom-up stock selection process designed to seek returns in excess of the benchmark as well as a disciplined portfolio construction process designed to manage risk. To narrow the investment universe, the Adviser uses a holistic approach that emphasizes fundamental research and, to a lesser extent, includes quantitative analysis. The Adviser then closely examines company fundamentals, including detailed modeling of all of a company’s financial statements and discussions with company management teams, suppliers, distributors, competitors, and customers. The Adviser uses a variety of valuation techniques based on the company in question, the industry in which the company operates, the stage of the business cycle, and other factors that best reflect a company’s value. The Adviser seeks to invest in companies with solid management teams, sound business models, strong financial health, attractive growth outlooks, and compelling valuations levels.

The Adviser considers whether to sell a particular security when a company hits the price target, a company’s fundamentals deteriorate, or the catalysts for growth are no longer present or reflected in the stock price.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

1 Invesco Dynamics Fund

Principal Risks of Investing in the Fund

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:

Active Trading Risk . The Fund engages in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

Foreign Securities Risk . The Fund’s foreign investments may be affected by changes in a foreign country’s exchange rates; political and social instability; changes in economic or taxation policies; difficulties when enforcing obligations; decreased liquidity; and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.

Growth Investing Risk . Growth stocks tend to be more expensive relative to their earnings or assets compared with other types of stock. As a result they tend to be more sensitive to changes in their earnings and can be more volatile.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Market Risk . The prices of and the income generated by the Fund’s securities may decline in response to, among other things, investor sentiment; general economic and market conditions; regional or global instability; and currency and interest rate fluctuations.

Small- and Mid-Capitalization Risks . Stocks of small and mid sized companies tend to be more vulnerable to adverse developments and may have little or no operating history or track record of success, and limited product lines, markets, management and financial resources. The securities of small and mid sized companies may be more volatile due to less market interest and less publicly available information about the issuer. They also may be illiquid or restricted as to resale, or may trade less frequently and in smaller volumes, all of which may cause difficulty when establishing or closing a position at a desirable price.

Performance Information

The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

Investor Class shares year-to-date (ended March 31, 2011): 7.50%

Best Quarter (ended December 31, 2001): 30.65%

Worst Quarter (ended September 30, 2001): -35.02%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10			Since
	Year			Years			Years			Inception

Investor Class shares: Inception (9/15/1967)
Return Before Taxes		23.46	%		4.10	%		-0.64	%		—	%
Return After Taxes on Distributions		23.46			4.10			-0.64			—
Return After Taxes on Distributions and Sale of Fund Shares		15.25			3.52			-0.54			—

Class A shares: Inception (3/28/2002)		16.67			2.92			—			3.70

Class B shares: Inception (3/28/2002)		17.52			2.97			—			3.66

Class C shares: Inception (2/14/2000)		21.54			3.32			-1.41			—

Class R shares: Inception (10/25/2005)		23.15			3.83			—			5.01

Class Y shares ¹ : Inception (10/3/2008)		23.71			4.21			-0.59			—

S&P 500 ^® Index (reflects no deduction for fees, expenses or taxes)		15.08			2.29			1.42			—

Russell Midcap ^® Growth Index (reflects no deduction for fees, expenses or taxes)		26.38			4.88			3.12			—

Lipper Mid-Cap Growth Funds Index		25.66			6.22			2.59			—


1		Class Y shares’ performance shown prior to the inception date is that of Investor Class shares and includes the 12b-1 fees applicable to Investor Class shares. Investor Class shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor Class shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser, through our Web site at www.invesco.com/us, by mail to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078, or by telephone at 800-959-4246.

There are no minimum investments for Class R shares for fund accounts. New or additional investments in Class B shares are no longer permitted. The minimum investments for Class A, C, Y and Investor shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

2 Invesco Dynamics Fund

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and the Fund’s distributor or its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson or financial adviser to recommend the Fund over another investment. Ask your salesperson or financial adviser or visit your financial intermediary’s Web site for more information.

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is long-term growth of capital. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

The Fund invests primarily in equity securities of mid-capitalization issuers.

The Fund may invest up to 25% of its total assets in foreign securities.

The Fund considers an issuer to be a mid-capitalization issuer if it has a market capitalization, at the time of purchase, within the range of the largest and smallest capitalized issuers included in the Russell Mid Cap ^® Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. As of April 29, 2011, the capitalization of companies in the Russell Mid Cap ^® Index range from $220 million to $26.9 billion. The Russell Mid Cap ^® Index measures the performance of the 800 smallest issuers with the lowest market capitalization in the Russell 1000 ^® Index. The Russell 1000 ^® Index is a widely recognized, unmanaged index of equity securities of the 1,000 largest issuers in the Russell 3000 ^® Index, which measures the performance of the 3,000 largest U.S. issuers based on total market capitalization. The issuers in the Russell Mid Cap ^® Index are considered representative of medium-sized issuers and constitute approximately 25% of the total market capitalization of the Russell 1000 ^® Index.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

The Fund may, from time to time, take temporary defensive positions in cash and other securities that are less risky and inconsistent with the Fund’s principal investment strategies in anticipation of or in response to adverse market, economic, political or other conditions. As a result, the Fund may not achieve its investment objective.

The Fund’s investments in the types of securities described in this prospectus vary from time to time, and at any time, the Fund may not be invested in all types of securities described in this prospectus. Any percentage limitations with respect to assets of the Fund are applied at the time of purchase.

Risks

The principal risks of investing in the Fund are:

Active Trading Risk . Frequent trading of portfolio securities results in increased costs and may thereby lower the Fund’s actual return. Frequent trading also may increase short term gains and losses, which may affect the Fund’s tax liability.

Foreign Securities Risk . The dollar value of the Fund’s foreign investments may be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded. The value of the Fund’s foreign investments may be adversely affected by political and social instability in their home countries, by changes in economic or taxation policies in those countries, or by the difficulty in enforcing obligations in those countries. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls. As a result, there generally is less publicly available information about foreign companies than about U.S. companies. Trading in many foreign securities may be less liquid and more volatile than U.S. securities due to the size of the market or other factors.

Growth Investing Risk . Growth stocks can perform differently from the market as a whole. Growth stocks tend to be more expensive relative to their earnings or assets compared with other types of stock. As a result they tend to be more sensitive to changes in their earnings and can be more volatile.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Invesco Advisers, Inc. (Invesco or the Adviser) serves as the Fund’s investment adviser. The Adviser manages the investment operations of the Fund as well as other investment portfolios that encompass a broad range of investment objectives, and has agreed to perform or arrange for the performance of the Fund’s day-to-day management. The Adviser is located at 1555 Peachtree Street, N.E., Atlanta, Georgia 30309. The

3 Invesco Dynamics Fund

Adviser, as successor in interest to multiple investment advisers, has been an investment adviser since 1976.

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.55% of Invesco Dynamics Fund’s average daily net assets.

A discussion regarding the basis for the Board of Trustees’ approval of the investment advisory agreement and investment sub-advisory agreements of the Fund is available in the Fund’s most recent semi-annual report to shareholders for the six-month period ended August 31.

Portfolio Manager

The following individual is primarily responsible for the day-to-day management of the Fund’s portfolio:


n	James Leach, Portfolio Manager, who has been responsible for the Fund since 2011 and has been associated with Invesco and/or its affiliates since 2011. From 2005 to 2011, he was a portfolio manager with Wells Capital Management.

More information on the portfolio manager may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio manager’s investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Dynamics Fund are subject to the maximum 5.50% initial sales charge as listed under the heading “Category I Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist of ordinary income, capital gains, or some combination of both.

Dividends

The Fund generally declares and pays dividends from net investment income, if any, annually.

Capital Gains Distributions

The Fund generally distributes long-term and short-term capital gains (net of any available capital loss carryovers), if any, at least annually. Capital gains distributions may vary considerably from year to year as a result of the Fund’s normal investment activities and cash flows. During a time of economic downturn, a fund may experience capital losses and unrealized depreciation in value of investments, the effect of which may be to reduce or eliminate capital gains distributions for a period of time. Even though a fund may experience a current year loss, it may nonetheless distribute prior year capital gains.

Benchmark Descriptions

Lipper Mid-Cap Growth Funds Index is an unmanaged index considered representative of mid-cap growth funds tracked by Lipper.

Russell Midcap ^® Growth Index is an unmanaged index considered representative of mid-cap growth stocks. The Russell Midcap ^® Growth Index is a trademark/service mark of the Frank Russell Co. Russell ^® is a trademark of the Frank Russell Co.

S&P 500 ^® Index is an unmanaged index considered representative of the U.S. stock market.

4 Invesco Dynamics Fund

Financial Highlights

The financial highlights table is intended to help you understand the Fund’s financial performance for the past five years or, if shorter, the period of operations of the Fund or any of its share classes. Certain information reflects financial results for a single Fund share.

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																			Ratio of			Ratio of
																			expenses			expenses
						Net gains													to average			to average net			Ratio of net
	Net asset					(losses) on													net assets			assets without			investment
	value,		Net			securities (both			Total from			Net asset					Net assets,		with fee waivers			fee waivers			income (loss)
	beginning		investment			realized and			investment			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income(loss) ^(a)			unrealized)			operations			of period		return ^(b)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(c)


Class A
Year ended 02/28/11	$	18.28	$	(0.00	)	$	5.48		$	5.48		$	23.76		29.98	%	$	144,118		1.12	% ^(d)		1.13	% ^(d)		(0.01	)% ^(d)		155	%
Seven months ended 02/28/10		15.45		(0.05	)		2.88			2.83			18.28		18.32			123,940		1.12	^(e)		1.12	^(e)		(0.55	) ^(e)		38
Year ended 07/31/09		20.41		(0.09	)		(4.87	)		(4.96	)		15.45		(24.30	)		116,128		1.21			1.21			(0.62	)		104
Year ended 07/31/08		23.61		(0.10	)		(3.10	)		(3.20	)		20.41		(13.55	)		192,706		1.05			1.05			(0.45	)		112
Year ended 07/31/07		18.86		(0.11	)		4.86			4.75			23.61		25.18			218,469		1.03			1.03			(0.49	)		99
Year ended 07/31/06		17.71		(0.05	)		1.20			1.15			18.86		6.49			135,778		1.06			1.06			(0.24	)		120

Class B
Year ended 02/28/11		17.22		(0.14	)		5.14			5.00			22.22		29.04			15,179		1.87	^(d)		1.88	^(d)		(0.76	) ^(d)		155
Seven months ended 02/28/10		14.63		(0.12	)		2.71			2.59			17.22		17.70			16,431		1.87	^(e)		1.87	^(e)		(1.30	) ^(e)		38
Year ended 07/31/09		19.45		(0.19	)		(4.63	)		(4.82	)		14.63		(24.78	)		17,015		1.96			1.96			(1.37	)		104
Year ended 07/31/08		22.68		(0.26	)		(2.97	)		(3.23	)		19.45		(14.24	)		38,079		1.80			1.80			(1.20	)		112
Year ended 07/31/07		18.25		(0.26	)		4.69			4.43			22.68		24.28			63,742		1.78			1.78			(1.24	)		99
Year ended 07/31/06		17.27		(0.19	)		1.17			0.98			18.25		5.67			64,434		1.81			1.81			(0.99	)		120

Class C
Year ended 02/28/11		16.89		(0.14	)		5.04			4.90			21.79		29.01			18,762		1.87	^(d)		1.88	^(d)		(0.76	) ^(d)		155
Seven months ended 02/28/10		14.34		(0.12	)		2.67			2.55			16.89		17.78			18,911		1.87	^(e)		1.87	^(e)		(1.30	) ^(e)		38
Year ended 07/31/09		19.08		(0.18	)		(4.56	)		(4.74	)		14.34		(24.84	)		16,271		1.96			1.96			(1.37	)		104
Year ended 07/31/08		22.25		(0.26	)		(2.91	)		(3.17	)		19.08		(14.25	)		29,517		1.80			1.80			(1.20	)		112
Year ended 07/31/07		17.90		(0.26	)		4.61			4.35			22.25		24.30			37,089		1.78			1.78			(1.24	)		99
Year ended 07/31/06		16.93		(0.18	)		1.15			0.97			17.90		5.73			32,577		1.81			1.81			(0.99	)		120

Class R
Year ended 02/28/11		18.08		(0.05	)		5.40			5.35			23.43		29.59			3,071		1.37	^(d)		1.38	^(d)		(0.26	) ^(d)		155
Seven months ended 02/28/10		15.31		(0.08	)		2.85			2.77			18.08		18.09			2,649		1.37	^(e)		1.37	^(e)		(0.80	) ^(e)		38
Year ended 07/31/09		20.26		(0.12	)		(4.83	)		(4.95	)		15.31		(24.43	)		2,373		1.46			1.46			(0.87	)		104
Year ended 07/31/08		23.51		(0.16	)		(3.09	)		(3.25	)		20.26		(13.82	)		3,965		1.30			1.30			(0.70	)		112
Year ended 07/31/07		18.82		(0.16	)		4.85			4.69			23.51		24.92			4,374		1.28			1.28			(0.74	)		99
Year ended 07/31/06 ^(f)		17.05		(0.07	)		1.84			1.77			18.82		10.38			2,430		1.33	^(e)		1.33	^(e)		(0.51	) ^(e)		120

Class Y
Year ended 02/28/11		18.34		0.05			5.51			5.56			23.90		30.32			12,656		0.87	^(d)		0.88	^(d)		0.24	^(d)		155
Seven months ended 02/28/10		15.48		(0.03	)		2.89			2.86			18.34		18.47			6,883		0.87	^(e)		0.87	^(e)		(0.30	) ^(e)		38
Year ended 07/31/09 ^(f)		15.72		(0.04	)		(0.20	)		(0.24	)		15.48		(1.53	)		5,843		1.00	^(e)		1.00	^(e)		(0.41	) ^(e)		104

Investor Class
Year ended 02/28/11		18.28		(0.00	)		5.48			5.48			23.76		29.98			802,241		1.12	^(d)		1.13	^(d)		(0.01	) ^(d)		155
Seven months ended 02/28/10		15.45		(0.05	)		2.88			2.83			18.28		18.32			751,148		1.12	^(e)		1.12	^(e)		(0.55	) ^(e)		38
Year ended 07/31/09		20.40		(0.09	)		(4.86	)		(4.95	)		15.45		(24.26	)		711,934		1.21			1.21			(0.62	)		104
Year ended 07/31/08		23.61		(0.10	)		(3.11	)		(3.21	)		20.40		(13.60	)		1,110,821		1.05			1.05			(0.45	)		112
Year ended 07/31/07		18.85		(0.11	)		4.87			4.76			23.61		25.25			1,560,651		1.03			1.03			(0.49	)		99
Year ended 07/31/06		17.71		(0.04	)		1.18			1.14			18.85		6.44			1,530,105		1.06			1.06			(0.24	)		120


(a)		Calculated using average shares outstanding.
(b)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(c)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(d)		Ratios are annualized and based on average daily net assets (000’s omitted) of $129,993, $15,163, $17,848, $2,779, $10,904 and $739,284 for Class A, Class B, Class C, Class R, Class Y and Investor Class shares, respectively.
(e)		Annualized.
(f)		Commencement date of October 25, 2005 and October 3, 2008 for Class R and Class Y, respectively.

5 Invesco Dynamics Fund

Hypothetical Investment and Expense Information

In connection with the final settlement reached between Invesco and certain of its affiliates with certain regulators, including the New York Attorney General’s Office, the SEC and the Colorado Attorney General’s Office (the settlement) arising out of certain market timing and unfair pricing allegations made against Invesco and certain of its affiliates, Invesco and certain of its affiliates agreed, among other things, to disclose certain hypothetical information regarding investment and expense information to Fund shareholders. The chart below is intended to reflect the annual and cumulative impact of the Fund’s expenses, including investment advisory fees and other Fund costs, on the Fund’s returns over a 10-year period. The example reflects the following:


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.

There is no assurance that the annual expense ratio will be the expense ratio for the Fund classes for any of the years shown. This is only a hypothetical presentation made to illustrate what expenses and returns would be under the above scenarios; your actual returns and expenses are likely to differ (higher or lower) from those shown below.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(1	.84)%		1	.96%		5	.90%		10	.00%		14	.26%		18	.68%		23	.27%		28	.04%		33	.00%		38	.14%
End of Year Balance	$	9,815	.72	$	10,195	.58	$	10,590	.15	$	10,999	.99	$	11,425	.69	$	11,867	.87	$	12,327	.15	$	12,804	.21	$	13,299	.74	$	13,814	.43
Estimated Annual Expenses	$	658	.85	$	113	.06	$	117	.44	$	121	.98	$	126	.71	$	131	.61	$	136	.70	$	141	.99	$	147	.49	$	153	.20


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%		1	.13%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.87%		7	.89%		12	.07%		16	.40%		20	.91%		25	.59%		30	.45%		35	.49%		40	.74%		46	.18%
End of Year Balance	$	10,387	.00	$	10,788	.98	$	11,206	.51	$	11,640	.20	$	12,090	.68	$	12,558	.59	$	13,044	.60	$	13,549	.43	$	14,073	.79	$	14,618	.45
Estimated Annual Expenses	$	115	.19	$	119	.64	$	124	.27	$	129	.08	$	134	.08	$	139	.27	$	144	.66	$	150	.26	$	156	.07	$	162	.11


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.13%		1	.13%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.12%		6	.34%		9	.66%		13	.08%		16	.60%		20	.24%		23	.99%		27	.86%		32	.81%		37	.95%
End of Year Balance	$	10,312	.00	$	10,633	.73	$	10,965	.51	$	11,307	.63	$	11,660	.43	$	12,024	.23	$	12,399	.39	$	12,786	.25	$	13,281	.08	$	13,795	.06
Estimated Annual Expenses	$	190	.93	$	196	.89	$	203	.03	$	209	.37	$	215	.90	$	222	.64	$	229	.58	$	236	.75	$	147	.28	$	152	.98


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%		1	.88%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.12%		6	.34%		9	.66%		13	.08%		16	.60%		20	.24%		23	.99%		27	.86%		31	.85%		35	.97%
End of Year Balance	$	10,312	.00	$	10,633	.73	$	10,965	.51	$	11,307	.63	$	11,660	.43	$	12,024	.23	$	12,399	.39	$	12,786	.25	$	13,185	.18	$	13,596	.56
Estimated Annual Expenses	$	190	.93	$	196	.89	$	203	.03	$	209	.37	$	215	.90	$	222	.64	$	229	.58	$	236	.75	$	244	.13	$	251	.75


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%		1	.38%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.62%		7	.37%		11	.26%		15	.29%		19	.46%		23	.78%		28	.26%		32	.91%		37	.72%		42	.70%
End of Year Balance	$	10,362	.00	$	10,737	.10	$	11,125	.79	$	11,528	.54	$	11,945	.87	$	12,378	.31	$	12,826	.41	$	13,290	.73	$	13,771	.85	$	14,270	.39
Estimated Annual Expenses	$	140	.50	$	145	.58	$	150	.85	$	156	.31	$	161	.97	$	167	.84	$	173	.91	$	180	.21	$	186	.73	$	193	.49


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%		0	.88%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.12%		8	.41%		12	.88%		17	.53%		22	.37%		27	.41%		32	.66%		38	.13%		43	.82%		49	.74%
End of Year Balance	$	10,412	.00	$	10,840	.97	$	11,287	.62	$	11,752	.67	$	12,236	.88	$	12,741	.04	$	13,265	.97	$	13,812	.53	$	14,381	.61	$	14,974	.13
Estimated Annual Expenses	$	89	.81	$	93	.51	$	97	.37	$	101	.38	$	105	.55	$	109	.90	$	114	.43	$	119	.15	$	124	.05	$	129	.17

1 Your actual expenses may be higher or lower than those shown. 2 The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

6 Invesco Dynamics Fund

Shareholder Account Information

In addition to the Fund, Invesco serves as investment adviser to many other Invesco and Invesco Van Kampen mutual funds that are offered to retail investors (Invesco Funds or Funds). The following information is about all of the Invesco Funds that offer retail share classes.

If shares of the Funds are held in an account maintained by an intermediary or in the name of a conduit investment vehicle (and not in the name of an individual investor), the intermediary or conduit investment vehicle may impose rules which differ from, and/or charge a transaction or other fee in addition to, those described in this prospectus.

Additional information is available on the Internet at www.invesco.com/us. Go to the tab for “Accounts & Services,” then click on “Service Center,” or consult the Fund’s SAI, which is available on that same Web site or upon request free of charge. The Web site is not part of this prospectus.

Choosing a Share Class

Each Fund may offer multiple classes of shares and not all Funds offer all share classes discussed herein. Each class represents an interest in the same portfolio of investments. Certain classes have higher expenses than other classes which may lower the return on your investment when compared to a less expensive class. In deciding which class of shares to purchase, you should consider the following attributes of the various share classes, among other things: (i) the eligibility requirements that apply to purchases of a particular class, (ii) the initial sales charges and contingent deferred sales charges (CDSCs), if any, applicable to the class, (iii) the 12b-1 fee, if any, paid by the class, and (iv) any services you may receive from a financial intermediary. Please contact your financial adviser to assist you in making your decision. Please refer to the prospectus fee table for more information on the fees and expenses of a particular Fund’s share classes.



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A, C and Invesco Cash Reserve Shares are available to all retail investors, including individuals, trusts, corporations and other business and charitable organizations and eligible employee benefit plans. The share classes offer different fee structures which are intended to compensate financial intermediaries for services provided in connection with the sale of shares and continued maintenance of the customer relationship. You should consider the services provided by your financial adviser and any other financial intermediaries who will be involved in the servicing of your account when choosing a share class.

New or additional investments in Class B shares are no longer permitted. Existing shareholders of Class B shares may continue as Class B shareholders, continue to reinvest dividends and capital gains distributions in Class B shares and exchange their Class B shares for Class B shares of other Funds as permitted by the current exchange privileges, until they convert. For Class B shares outstanding on November 29, 2010 and Class B shares acquired upon reinvestment of dividends, all Class B share attributes including the associated Rule 12b-1 fee, CDSC and conversion features, will continue.

Class A2 Shares

Class A2 shares, which are offered only on Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund, are closed to new investors. All references in this prospectus to Class A shares, shall include Class A2 shares, unless otherwise noted.

Class A5, B5, C5 and R5 Shares

Class A5, B5, C5 and R5 shares are closed to new investors. Only investors who have continuously maintained an account in Class A5, C5 or R5 of a specific Fund may make additional purchases into Class A5, C5 and R5, respectively, of such specific Fund. All references in this Prospectus to Class A, B, C or R shares of the Invesco Funds shall include Class A5 (excluding Invesco Money Market Fund), B5, C5, or R5 shares, respectively, of the Invesco Funds, unless otherwise noted. All references in this Prospectus to Invesco Cash Reserve Shares of Invesco Money Market Fund shall include Class A5 shares of Invesco Money Market Fund, unless otherwise noted.

Class P Shares

In addition to the other share classes discussed herein, the Invesco Summit Fund offers Class P shares, which were historically sold only through the AIM Summit Investors Plans I and II (each a Plan and, collectively, the Summit Plans). Class P shares are sold with no initial sales charge and have a 12b-1 fee of 0.10%. However, Class P shares are not sold to members of the general public. Only shareholders who had accounts in the Summit Plans at the close of business on December 8, 2006 may purchase Class P shares and only until the total of their combined investments in the Summit Plans and in Class P shares directly equals the face amount of their former Plan under the 30 year extended investment option. The face amount of a Plan is the combined total of all scheduled monthly investments under the Plan. For a Plan with a scheduled monthly investment of $100.00, the face amount would have been $36,000.00 under the 30 year extended investment option.

Class R Shares

Class R shares are generally available only to eligible employee benefit plans. These may include, for example, retirement and deferred compensation plans maintained pursuant to Sections 401, 403, and 457 of the Internal Revenue Code (the Code); nonqualified deferred compensation plans; health savings accounts maintained pursuant to Section 223 of the Code; and voluntary employees’ beneficiary arrangements maintained pursuant to Section 501(c)(9) of the Code. Retirement plans maintained pursuant to Section 401 generally include 401(k) plans, profit sharing plans, money purchase pension plans, and defined benefit plans. Class R shares are generally not available for individual retirement accounts (IRAs) such as traditional, Roth, SEP, SAR-SEP and SIMPLE IRAs.

Class S Shares

Class S shares are limited to investors who purchase shares with the proceeds received from a systematic contractual investment plan redemption within the 12 months prior to purchasing Class S shares, and who purchase through an approved financial intermediary that has an agreement with the distributor to sell Class S shares. Class S shares are not otherwise sold to members of the general public. An investor purchasing Class S shares will not pay an initial sales charge. The investor will no longer be eligible to purchase additional Class S shares at that point where the value of the contributions to the prior systematic contractual investment plan combined with the subsequent Class S share contributions equals the face amount of what would have been the investor’s systematic contractual investment plan under the 30-year investment option. The face amount of a systematic contractual investment plan is the combined total of all scheduled monthly investments under that plan. For a plan with a scheduled monthly investment of $100.00, the face amount would have been $36,000.00 under the 30-year extended investment option.

Class Y Shares

Class Y shares are generally available to investors who purchase through a fee-based advisory account with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family members of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In fee-based advisory programs, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.

Subject to any conditions or limitations imposed on the servicing of Class Y shares by your financial adviser, if you received Class Y shares as a result of a merger or reorganization of a predecessor fund into any of the Funds, you will be permitted to make additional Class Y share purchases.

Investor Class Shares

Some of the Funds offer Investor Class shares. Investor Class shares are sold with no initial sales charge and have a maximum 12b-1 fee of 0.25%. Investor Class shares are not sold to members of the general public. Only the following persons may purchase Investor Class shares:


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

Except as noted below, each Fund has adopted a distribution plan or distribution plan and service plan pursuant to SEC Rule 12b-1. A 12b-1 plan allows a Fund to pay distribution and service fees to Invesco Distributors, Inc. (Invesco Distributors) to compensate or reimburse, as applicable, Invesco Distributors for its efforts in connection with the sale and distribution of the Fund’s shares and for services provided to shareholders, all or a substantial portion of which are paid to the dealer of record. Because the Funds pay these fees out of their assets on an ongoing basis, over time these fees will increase the cost of your investment and may cause you to pay more than the maximum permitted initial sales charges described in this prospectus.

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares

Under the applicable distribution plan or distribution plan and service plan, the Funds may pay distribution and service fees up to the following amounts with respect to each Fund’s average daily net assets with respect to such class:


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)

The Funds are grouped into four categories for determining initial sales charges. The “Other Information” section of each Fund’s prospectus will tell you the sales charge category in which the Fund is classified. As used below, the term “offering price” with respect to all categories of Class A shares includes the initial sales charge.


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge

Certain categories of investors are permitted to purchase and certain intermediaries are permitted to sell Class A shares of the Funds without an initial sales charge because their transactions involve little or no expense. The investors who may purchase Class A shares without paying an initial sales charge include the following:


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

You may qualify for reduced sales charges or sales charge exceptions. Qualifying types of accounts for you and your “Immediate Family” as described in a Fund’s SAI include individual, joint, certain trusts, 529 college savings plan and Coverdell Education Savings, certain retirement plans established for the benefit of an individual, and Uniform Gifts/Transfers to Minor Acts accounts. To qualify for these reductions or exceptions, you or your financial adviser must notify the transfer agent and provide the necessary documentation at the time of purchase that your purchase qualifies for such treatment. Certain individuals and employer-sponsored retirement plans may link accounts for the purpose of qualifying for lower initial sales charges.

Purchases of Class A shares of Invesco Tax-Exempt Cash Fund or Invesco Cash Reserve Shares of Invesco Money Market Fund or Investor Class shares of any fund will not be taken into account in determining whether a purchase qualifies for a reduction in initial sales charges pursuant to Rights of Accumulation or Letters of Intent.

Rights of Accumulation

You may combine your new purchases of Class A shares of a Fund with other Fund shares currently owned (Class A, B, C, P, R, S or Y) for the purpose of qualifying for the lower initial sales charge rates that apply to larger purchases. The applicable initial sales charge for the new purchase is based on the total of your current purchase and the value of other shares owned based on their current public offering price. The transfer agent may automatically link certain accounts registered in the same name with the same taxpayer identification number for the purpose of qualifying you for lower initial sales charge rates.

Letters of Intent

Under a Letter of Intent (LOI), you commit to purchase a specified dollar amount of Class A shares of one or more Funds during a 13-month period. The amount you agree to purchase determines the initial sales charge you pay. If the full amount committed to in the LOI is not invested by the end of the 13-month period, your account will be assessed the higher initial sales charge that would normally be applicable to the total amount actually invested.

Reinstatement Following Redemption

If you redeem any class of shares of a Fund, you may reinvest all or a portion of the proceeds from the redemption in the same share class of any Fund in the same Category within 180 days of the redemption without paying an initial sales charge. Class B, P and S redemptions may be reinvested only into Class A shares with no initial sales charge. Class Y redemptions may be reinvested into either Class Y shares or Class A shares with no initial sales charge.

This reinstatement privilege does not apply to a purchase made through a regularly scheduled automatic investment plan, such as a purchase by a regularly scheduled payroll deduction or transfer from a bank account.

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

You can purchase $1,000,000 or more (a Large Purchase) of Class A shares of Category I, II and IV Funds without paying an initial sales charge. However, if you redeem these shares prior to 18 months after the date of purchase, they will be subject to a CDSC of 1%.

If you currently own Class A shares of a Category I, II or IV Fund, and make additional purchases without paying an initial sales charge that result in account balances of $1,000,000 or more, the additional shares purchased will be subject to an 18-month, 1% CDSC.

If Invesco Distributors pays a concession to the dealer of record in connection with a Large Purchase of Class A shares by an employee benefit plan, the Class A shares may be subject to a 1% CDSC if all of the plan’s shares are redeemed within one year from the date of the plan’s initial purchase.

If you acquire Invesco Cash Reserve Shares of Invesco Money Market Fund or Class A shares of Invesco Tax-Exempt Cash Fund through an exchange involving Class A shares that were subject to a CDSC, the shares acquired as a result of the exchange will continue to be subject to that same CDSC.

CDSCs on Class B Shares

Class B shares are subject to a CDSC. If you redeem your shares during the CDSC period, you will be assessed a CDSC as follows, unless you qualify for one of the CDSC exceptions outlined below. The Funds are grouped into seven categories for determining CDSCs. The “Other Information” section of each Fund’s prospectus will tell you the CDSC category in which the Fund is classified.


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

Class C shares are sold without an initial sales charge. However, they are subject to a CDSC. If you redeem your shares during the first year since purchase has been made you will be assessed a 1% CDSC, unless you qualify for one of the CDSC exceptions outlined below.

CDSCs on Class C Shares—Employee Benefit Plan

Invesco Distributors pays a concession to the dealer of record in connection with a purchase of Class C shares by an employee benefit plan; the Class C shares are subject to a 1.00% CDSC at the time of redemption if all of the plan’s shares are redeemed within one year from the date of the plan’s initial purchase.

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Class C shares of Invesco Short Term Bond Fund are not normally subject to a CDSC. However, if you acquired shares of those Funds through an exchange, and the shares originally purchased were subject to a CDSC, the shares acquired as a result of the exchange will continue to be subject to that same CDSC. Conversely, if you acquire Class C shares of any other Fund as a result of an exchange involving Class C shares of Invesco Short Term Bond Fund that were not subject to a CDSC, then the shares acquired as a result of the exchange will not be subject to a CDSC.

Computing a CDSC

The CDSC on redemptions of shares is computed based on the lower of their original purchase price or current net asset value, net of reinvested dividends and capital gains distributions. In determining whether to charge a CDSC, shares are accounted for on a first-in, first-out basis, which means that you will redeem shares on which there is no CDSC first, and then shares in the order of their purchase.

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees

Certain Funds impose a 2% redemption fee (on redemption proceeds) if you redeem or exchange shares within 31 days of purchase. Please refer to the applicable Fund’s prospectus to determine whether that Fund imposes a redemption fee. As of the date of this prospectus, the following Funds impose redemption fees:


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

The redemption fee will be retained by the Fund from which you are redeeming or exchanging shares, and is intended to offset the trading costs, market impact and other costs associated with short-term money movements in and out of the Fund. The redemption fee is imposed on a first-in, first-out basis, which means that you will redeem shares in the order of their purchase.

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

If shares of the Funds are held in an account maintained by an intermediary or in the name of a conduit investment vehicle (and not in the names of individual investors), the intermediary or conduit investment vehicle may impose rules intended to limit short-term money movements in and out of the Funds which differ from those described in this prospectus. In such cases, there may be redemption fees imposed by the intermediary or conduit investment vehicle on different terms (and subject to different exceptions) than those set forth above. Please consult your financial adviser or other financial intermediary for details.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

If you hold your shares through a financial intermediary, your eligibility to purchase shares and the terms by which you may purchase, redeem and exchange shares may differ depending on that institution’s policies.

Minimum Investments

There are no minimum investments for Class P, R or S shares for fund accounts. The minimum investments for Class A, C, Y, Investor Class and Invesco Cash Reserve shares for fund accounts are as follows:


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Purchase orders will not be processed unless the account application and purchase payment are received in good order. In accordance with the USA PATRIOT Act, if you fail to provide all the required information requested in the current account application, your purchase order will not be processed. Additionally, federal law requires that the Fund verify and record your identifying information.

Systematic Purchase Plan

You can arrange for periodic investments in any of the Funds by authorizing the transfer agent to withdraw the amount of your investment from your bank account on a day or dates you specify and in an amount of at least $25 per Fund for IRAs, Roth IRAs and Coverdell ESAs, and at least $50 per Fund for all other types of accounts (a Systematic Purchase Plan). You may stop the Systematic Purchase Plan at any time by giving the transfer agent notice ten days prior to your next scheduled withdrawal. Certain financial advisers and other financial intermediaries may also offer systematic purchase plans.

Dollar Cost Averaging

Dollar Cost Averaging allows you to make automatic periodic exchanges, if permitted, from one Fund to another Fund or multiple other Funds. The account from which exchanges are to be made must have a minimum balance of $5,000 before you can use this option. Exchanges will occur on (or about) the day of the month you specify, in the amount you specify. Dollar Cost Averaging cannot be set up for the 29th through the 31st of the month. The minimum amount you can exchange to another Fund is $50. Certain financial advisers and other financial intermediaries may also offer dollar cost averaging programs. If you participate in one of these programs and it is the same or similar to Invesco’s Dollar Cost Averaging program, exchanges made under the program generally will not be counted toward the limitation of four exchanges out of a Fund per calendar year, discussed below.

Automatic Dividend and Distribution Investment

Your dividends and distributions may be paid in cash or reinvested in the same Fund or another Fund without paying an initial sales charge. Unless you specify otherwise, your dividends and distributions will automatically be reinvested in the same Fund. If you elect to receive your distributions by check, and the distribution amount is $10 or less, then the amount will be automatically reinvested in the same Fund and no check will be issued. If you have elected to receive distributions by check, and the postal service is unable to deliver checks to your address of record, then your distribution election may be converted to having all subsequent distributions reinvested in the same Fund and no checks will be issued. With respect to certain account types, if your check remains uncashed for six months, the Fund generally reserves the right to reinvest your distribution check in your account at NAV and to reinvest all subsequent distributions in shares of the Fund. Such checks will be reinvested into the same share class of the Fund unless you own shares in both Class A and Class B of the same Fund, in which case the check may be reinvested into the Class A shares. You should contact the transfer agent to change your distribution option, and your request to do so must be received by the transfer agent before the record date for a distribution in order to be effective for that distribution. No interest will accrue on amounts represented by uncashed distribution checks.

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

If you have at least $5,000 in your account, you may participate in the Portfolio Rebalancing Program. Under this Program, you can designate how the total value of your Fund holdings should be rebalanced, on a percentage basis, between two and ten of your Funds on a quarterly, semiannual or annual basis. Your portfolio will be rebalanced through the exchange of shares in one or more of your Funds for shares of the same class of one or more other Funds in your portfolio. Rebalancing will not occur if your portfolio is within 2% of your stated allocation. If you wish to participate in the Program, make changes or cancel the Program, the transfer agent must receive your request to participate, changes, or cancellation in good order at least five business days prior to the next rebalancing date, which is normally the 28th day of the last month of the period you choose. We may modify, suspend or terminate the Program at any time on 60 days’ prior written notice to participating investors. Certain financial advisers and other financial intermediaries may also offer portfolio rebalancing programs. If you participate in one of these programs and it is the same as or similar to Invesco’s program, exchanges made under the program generally will not be counted toward the limitation of four exchanges out of a Fund per calendar year, discussed below.

Redeeming Shares

For Funds other than Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, the transfer agent or authorized intermediary, if applicable, must receive your call during the hours of the customary trading session of the New York Stock Exchange (NYSE) in order to effect the redemption at that day’s net asset value. For Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, the transfer agent or authorized intermediary, if applicable, must receive your call before the Funds’ net asset value determination in order to effect the redemption that day.


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

We normally will send out payments within one business day, and in any event no more than seven days, after your redemption request is received in good order (meaning that all necessary information and documentation related to the redemption request have been provided to the transfer agent or authorized intermediary, if applicable). If you redeem shares recently purchased by check or ACH, you may be required to wait up to ten business days before we send your redemption proceeds. This delay is necessary to ensure that the purchase has cleared. Payment may be postponed under unusual circumstances, as allowed by the SEC, such as when the NYSE restricts or suspends trading.

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

We use reasonable procedures to confirm that instructions communicated via telephone and the Internet are genuine, and we are not liable for losses arising from actions taken in accordance with instructions that are reasonably believed to be genuine.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

If you place your redemption order by telephone, before 11:30 a.m. Eastern Time and request an expedited redemption, we will transmit payment of redemption proceeds on that same day via federal wire to a bank of record on your account. If we receive your redemption order after 11:30 a.m. Eastern Time and before the close of the customary trading session of the NYSE, we will transmit payment on the next business day.

Systematic Withdrawals

You may arrange for regular periodic withdrawals from your account in amounts equal to or greater than $50 per Fund. We will redeem the appropriate number of shares from your account to provide redemption proceeds in the amount requested. You must have a total account balance of at least $5,000 in order to establish a Systematic Redemption Plan, unless you are establishing a Required Minimum Distribution for a retirement plan. You can stop this plan at any time by giving ten days’ prior notice to the transfer agent.

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Redemption by check is not available for retirement accounts. Checks are not eligible to be converted to ACH by the payee. You may not give authorization to a payee by phone to debit your account by ACH for a debt owed to the payee.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

The transfer agent will accept a guarantee of your signature by a number of different types of financial institutions. Call the transfer agent for additional information. Some institutions have transaction amount maximums for these guarantees. Please check with the guarantor institution to determine whether the signature guarantee offered will be sufficient to cover the value of your transaction request.

Redemptions in Kind

Although the Funds generally intend to pay redemption proceeds solely in cash, the Funds reserve the right to determine, in their sole discretion, whether to satisfy redemption requests by making payment in securities or other property (known as a redemption in kind).

Redemptions Initiated by the Funds

If your account (Class A, B, C, P, S and Investor Class shares only) has been open at least one year, you have not made an additional purchase in the account during the past six calendar months, and the value of your account falls below $500 for three consecutive months, the Funds have the right to redeem the account after giving you 60 days’ prior written notice. You may avoid having your account redeemed during the notice period by bringing the account value up to $500 or by initiating a Systematic Purchase Plan.

If the Fund determines that you have not provided a correct Social Security or other tax identification number on your account application, or the Fund is not able to verify your identity as required by law, the Fund may, at its discretion, redeem the account and distribute the proceeds to you.

Minimum Account Balance

A-8 The Invesco Funds

from time to time by the Fund and the Adviser. The Fund and the Adviser generally expect the Low Balance Amount to be $750, but such amount may be adjusted for any year depending on various factors, including market conditions. The Low Balance Amount and the date on which it will be deducted from any Fund Account will be posted on our web site, www.invesco.com/us, on or about November 15 of each year. This fee will be payable to the transfer agent by redeeming from a Fund Account sufficient shares owned by a shareholder and will be used by the transfer agent to offset amounts that would otherwise be payable by the Fund to the transfer agent under the transfer agency agreement. The low balance fee is not applicable to Fund Accounts comprised of: (i) fund of funds accounts, (ii) escheated accounts, (iii) accounts participating in a Systematic Purchase Plan established directly with the Fund, (iv) accounts with Dollar Cost Averaging, (v) accounts in which Class B Shares are immediately involved in the automatic conversion to Class A Shares, and those corresponding Class A Shares immediately involved in such conversion, (vi) accounts in which all shares are evidenced by share certificates, (vii) certain retirement plan accounts, (viii) forfeiture accounts in connection with certain retirement plans, (ix) investments in Class B, Class P, Class R, Class S or Class Y Shares, (x) certain money market funds (Investor Class of Premier U.S. Government Money, Premier Tax-Exempt and Premier Portfolios; all classes of Invesco Money Market Fund; and all classes of Invesco Tax-Exempt Cash Fund), or (xi) accounts in Class A shares established pursuant to an advisory fee program.

Exchanging Shares

You may, under certain circumstances, exchange shares in one Fund for those of another Fund. An exchange is the purchase of shares in one Fund which is paid for with the proceeds from a redemption of shares of another Fund effectuated on the same day. Any gain on the transaction may be subject to federal income tax. Accordingly, the procedures and processes applicable to redemptions of Fund shares, as discussed under the heading “Redeeming Shares” above, will apply. Before requesting an exchange, review the prospectus of the Fund you wish to acquire.

All exchanges are subject to the limitations set forth in the prospectuses of the Funds. If you wish to exchange shares of one Fund for those of another Fund, you must consult the prospectus of the Fund whose shares you wish to acquire to determine whether the Fund is offering shares to new investors and whether you are eligible to acquire shares of that Fund.

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Invesco Van Kampen Senior Loan Fund is a closed-end fund that continuously offers its shares pursuant to the terms and conditions of its prospectus. The Adviser is the investment adviser for the Invesco Van Kampen Senior Loan Fund. As with the Invesco Funds, you generally may exchange your shares of Class A (Invesco Cash Reserve Shares of Invesco Money Market Fund), Class B or Class C of any Invesco Fund for shares of Class A, Class B or Class C, respectively, of Invesco Van Kampen Senior Loan Fund. Please refer to the prospectus for the Invesco Van Kampen Senior Loan Fund for more information, including limitations on exchanges out of Invesco Van Kampen Senior Loan Fund.

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Under unusual market conditions, a Fund may delay the exchange of shares for up to five business days if it determines that it would be materially disadvantaged by the immediate transfer of exchange proceeds. The exchange privilege is not an option or right to purchase shares. Any of the participating Funds or the distributor may modify or terminate this privilege at any time.

Limit on the Number of Exchanges

You will generally be limited to four exchanges out of a Fund per calendar year (other than the money market funds and Invesco Limited Maturity Treasury Fund); provided, however, that the following transactions will not count toward the exchange limitation:


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

Each Fund reserves the discretion to accept exchanges in excess of these guidelines on a case-by-case basis if the Fund, or its designated agent, believes that granting such exceptions would be consistent with the best interests of shareholders.

There is no limit on the number of exchanges out of Invesco Limited Maturity Treasury Fund, Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio.

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

You may be required to pay an initial sales charge when exchanging from a Fund with a lower initial sales charge than the one into which you are exchanging. If you exchange into shares that are subject to a CDSC, we will begin the holding period for purposes of calculating the CDSC on the date you made your initial purchase.

In addition, as a result of differences in the forms of distribution plans and distribution plans and service plans among the Funds, certain exchanges of Class A shares, Class B shares, Class C shares, and Class R shares of a Fund for the same class of shares of another Fund may result in investors paying a higher or a lower 12b-1 fee on the Fund being exchanged into. Please refer to the prospectus fee table and financial highlights table and the statement of additional information for more information on the fees and expenses, including applicable 12b-1 fees, of the Fund you wish to acquire.

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures

While the Funds provide their shareholders with daily liquidity, their investment programs are designed to serve long-term investors and are not designed to accommodate excessive short-term trading activity in violation of our policies described below. Excessive short-term trading activity in the Funds’ shares (i.e., a purchase of Fund shares followed shortly thereafter by a redemption of such shares, or vice versa) may hurt the long-term performance of certain Funds by requiring them to maintain an excessive amount of cash or to liquidate portfolio holdings at a disadvantageous time, thus interfering with the efficient management of such Funds by causing them to incur increased brokerage and administrative costs. Where excessive short-term trading activity seeks to take advantage of arbitrage opportunities from stale prices for portfolio securities, the value of Fund shares held by long-term investors may be diluted. The Boards of Trustees of the Funds (collectively, the Board) has adopted policies and procedures designed to discourage excessive or short-term trading of Fund shares for all Funds except the money market funds and the Invesco Limited Maturity Treasury Fund. However, there is the risk that these Funds’ policies and procedures will prove ineffective in whole or in part to detect or prevent excessive or short-term trading. These Funds may alter their policies at any time without prior notice to shareholders if the adviser believes the change would be in the best interests of long-term shareholders.

Invesco and certain of its corporate affiliates (Invesco and such affiliates, collectively, the Invesco Affiliates) currently use the following tools designed to discourage excessive short-term trading in the retail Funds:


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

Each of these tools is described in more detail below. Although these tools are designed to discourage excessive short-term trading, you should understand that none of these tools alone nor all of them taken together eliminate the possibility that excessive short-term trading activity in the Funds will occur. Moreover, each of these tools involves judgments that are inherently subjective. Invesco Affiliates seek to make these judgments to the best of their abilities in a manner that they believe is consistent with long-term shareholder interests.

Money Market Funds. The Board of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio (the money market funds) has not adopted any policies and procedures that would limit frequent purchases and redemptions of such Funds’ shares. The Board considered the risks of not having a specific policy that limits frequent purchases and redemptions, and determined that those risks were minimal. Nonetheless, to the extent that a money market fund must maintain additional cash and/or securities with short-term durations in greater amounts than may otherwise be required or borrow to honor redemption requests, the money market fund’s yield could be negatively impacted.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

Invesco Limited Maturity Treasury Fund. The Board of Invesco Limited Maturity Treasury Fund has not adopted any policies and procedures that would limit frequent purchases and redemptions of such Fund’s shares. The Board considered the risks of not having a specific policy that limits frequent purchases and redemptions and determined that those risks were minimal. Nonetheless, to the extent that Invesco Limited Maturity Treasury Fund must maintain additional cash and/or securities with short-term durations in greater amounts than may otherwise be required or borrow to honor redemption requests, Invesco Limited Maturity Treasury Fund’s yield could be negatively impacted.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Invesco Affiliates monitor selected trades on a daily basis in an effort to detect excessive short-term trading activities. If, as a result of this monitoring, Invesco Affiliates believe that a shareholder has engaged in excessive short-term trading, they will seek to act in a manner that they believe is consistent with the best interests of long-term investors, which may include taking steps such as (i) asking the shareholder to take action to stop such activities or (ii) refusing to process future purchases or exchanges related to such activities in the shareholder’s accounts other than exchanges into a money market Fund. Invesco Affiliates will use reasonable efforts to apply the Fund’s policies uniformly given the practical limitations described above.

The ability of Invesco Affiliates to monitor trades that are made through accounts that are maintained by intermediaries (rather than the Funds’ transfer agent) and through conduit investment vehicles may be limited.

Trading Guidelines

You will be limited to four exchanges out of a Fund per calendar year (other than the money market funds and Invesco Limited Maturity Treasury Fund). If you meet the four exchange limit within a Fund in a calendar year, or a Fund or an Invesco Affiliate determines, in its sole discretion, that your short-term trading activity is excessive (regardless of whether or not you exceed such guidelines), it may, in its sole discretion, reject any additional purchase and exchange orders.

Redemption Fees

You may be charged a 2% redemption fee if you redeem, including redeeming by exchange, shares of certain Funds within 31 days of purchase. The ability of a Fund to assess a redemption fee on redemptions effectuated through accounts that are maintained by intermediaries (rather than the Funds’ transfer agent) and through conduit investment vehicles may be limited.

Fair Value Pricing

Securities owned by a Fund are to be valued at current market value if market quotations are readily available. All other securities and assets of a Fund for which market quotations are not readily available are to be valued at fair value determined in good faith using procedures approved by the Board. An effect of fair value pricing may be to reduce the ability of frequent traders to take advantage of arbitrage opportunities resulting from potentially “stale” prices of portfolio holdings. However, it cannot eliminate the possibility of frequent trading.

Pricing of Shares

Determination of Net Asset Value

The price of each Fund’s shares is the Fund’s net asset value per share. The Funds value portfolio securities for which market quotations are readily available at market value. The Funds value all other securities and assets for which market quotations are unavailable or unreliable at their fair value in good faith using procedures approved by the Board. The Board has delegated the daily determination of good faith fair value methodologies to Invesco’s Valuation Committee, which acts in accordance with Board approved policies. On a quarterly basis, Invesco provides the Board various reports indicating the quality and effectiveness of its fair value decisions on portfolio holdings. Securities and other assets quoted in foreign currencies are valued in U.S. dollars based on the prevailing exchange rates on that day.

Even when market quotations are available, they may be stale or unreliable because the security is not traded frequently, trading on the security ceased before the close of the trading market or issuer specific events occurred after the security ceased trading or because of the passage of time between the close of the market on which the security trades and the close of the NYSE and when the Fund calculates its net asset value. Issuer specific events may cause the last market quotation to be unreliable. Such events may include a merger or insolvency, events which affect a geographical area or an industry segment, such as political events or natural disasters, or market events, such as a significant movement in the U.S. market. Where market quotations are not readily available, including where Invesco determines that the closing price of the security is unreliable, Invesco will value the security at fair value in good faith using procedures approved by the Board. Fair value pricing may reduce the ability of frequent traders to take advantage of arbitrage opportunities resulting from potentially “stale” prices of portfolio holdings. However, it cannot eliminate the possibility of frequent trading.

Fair value is that amount that the owner might reasonably expect to receive for the security upon its current sale. Fair value requires consideration of all appropriate factors, including indications of fair value available from pricing services. A fair value price is an estimated price and may vary from the prices used by other mutual funds to calculate their net asset values.

Invesco may use indications of fair value from pricing services approved by the Board. In other circumstances, the Invesco Valuation Committee may fair value securities in good faith using procedures approved by the Board. As a means of evaluating its fair value process, Invesco routinely compares closing market prices, the next day’s opening prices for the security in its primary market if available, and indications of fair value from other sources. Fair value pricing methods and pricing services can change from time to time as approved by the Board.

Specific types of securities are valued as follows:

Senior Secured Floating Rate Loans and Senior Secured Floating Rate Debt Securities. Senior secured floating rate loans and senior secured floating rate debt securities are fair valued using evaluated quotes provided by an independent pricing service. Evaluated quotes provided by the pricing service may reflect appropriate factors such as market quotes, ratings, tranche type, industry, company performance, spread, individual trading characteristics, institution-size trading in similar groups of securities and other market data.

A-11 The Invesco Funds

Domestic Exchange Traded Equity Securities. Market quotations are generally available and reliable for domestic exchange traded equity securities. If market quotations are not available or are unreliable, Invesco will value the security at fair value in good faith using procedures approved by the Board.

Foreign Securities. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If an issuer specific event has occurred that Invesco determines, in its judgment, is likely to have affected the closing price of a foreign security, it will price the security at fair value. Invesco also relies on a screening process from a pricing vendor to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current market value as of the close of the NYSE. For foreign securities where Invesco believes, at the approved degree of certainty, that the price is not reflective of current market value, Invesco will use the indication of fair value from the pricing service to determine the fair value of the security. The pricing vendor, pricing methodology or degree of certainty may change from time to time.

Fund securities primarily traded on foreign markets may trade on days that are not business days of the Fund. Because the net asset value of Fund shares is determined only on business days of the Fund, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when you will not be able to purchase or redeem shares of the Fund.

Fixed Income Securities. Government, corporate, asset-backed and municipal bonds, convertible securities, including high yield or junk bonds, and loans, normally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing services may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to special securities, dividend rate, maturity and other market data. Prices received from pricing services are fair value prices. In addition, if the price provided by the pricing service and independent quoted prices are unreliable, the Invesco valuation committee will fair value the security using procedures approved by the Board.

Short-term Securities. The Funds’ short-term investments are valued at amortized cost when the security has 60 days or less to maturity. Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio value all their securities at amortized cost. Invesco High Income Municipal Fund, Invesco Municipal Bond Fund and Invesco Tax-Free Intermediate Fund value variable rate securities that have an unconditional demand or put feature exercisable within seven days or less at par, which reflects the market value of such securities.

Futures and Options. Futures contracts are valued at the final settlement price set by the exchange on which they are principally traded. Options are valued on the basis of market quotations, if available.

Swap Agreements. Swap Agreements are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service are based on a model that may include end of day net present values, spreads, ratings, industry and company performance.

Open-end Funds. To the extent a Fund invests in other open-end Funds, other than open-end Funds that are exchange traded, the investing Fund will calculate its net asset value using the net asset value of the underlying fund in which it invests, and the prospectuses for such open-end Funds explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing.

Each Fund, except for Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, determines the net asset value of its shares on each day the NYSE is open for business (a business day), as of the close of the customary trading session, or earlier NYSE closing time that day. Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio open for business at 8:00 a.m. Eastern Time. Premier Portfolio and Premier U.S. Government Money Portfolio will generally determine the net asset value of their shares at 5:30 p.m. Eastern Time. Premier Tax-Exempt Portfolio will generally determine the net asset value of its shares at 4:30 p.m. Eastern Time. Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio are authorized not to open for trading on a day that is otherwise a business day if the Federal Reserve Bank of New York and The Bank of New York Mellon, the Fund’s custodian, are not open for business or the Securities Industry and Financial Markets Association (SIFMA) recommends that government securities dealers not open for trading and any such day will not be considered a business day. Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio also may close early on a business day if SIFMA recommends that government securities dealers close early. If Premier Portfolio, Premier Tax-Exempt Portfolio or Premier U.S. Government Money Portfolio uses its discretion to close early on a business day, the Fund will calculate its net asset value as of the time of such closing.

From time to time and in circumstances deemed appropriate by Invesco in its sole discretion, each of Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio may remain open for business, during customary business day hours, on a day that the NYSE is closed for business. In such event, on such day you will be permitted to purchase or redeem shares of such Funds and net asset values will be calculated for such Funds.

For financial reporting purposes and shareholder transactions on the last day of the fiscal quarter, transactions are normally accounted for on a trade date basis. For purposes of executing shareholder transactions in the normal course of business (other than shareholder transactions at a fiscal period-end), each Fund’s portfolio securities transactions are recorded no later than the first business day following the trade date.

The Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund may each invest up to 25% of their total assets in shares of their respective subsidiaries (the Subsidiaries). The Subsidiaries offer to redeem all or a portion of their shares at the current net asset value per share every regular business day. The value of shares of the Subsidiaries will fluctuate with the value of the respective Subsidiary’s portfolio investments. The Subsidiaries price their portfolio investments pursuant to the same pricing and valuation methodologies and procedures used by the Funds, which require, among other things, that each of the Subsidiaries’ portfolio investments be marked-to-market (that is, the value on each of the Subsidiaries’ books changes) each business day to reflect changes in the market value of the investment.

Timing of Orders

For Funds other than Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, you can purchase or redeem shares on each business day prior to the close of the customary trading session or any earlier NYSE closing time that day. For Funds other than Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, purchase orders that are received and accepted before the close of the customary trading session or any earlier NYSE closing time on a business day generally are processed that day and settled on the next business day.

For Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio, you can purchase or redeem shares on each business day, prior to the Funds’ net asset value determination on such business day; however, if your order is received and accepted after the close of the customary trading session or any earlier NYSE closing

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

For all Funds, you can exchange shares on each business day, prior to the close of the customary trading session or any earlier NYSE closing time that day. Shareholders of Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio therefore cannot exchange their shares after the close of the customary trading session or any earlier NYSE closing time on a particular day, even though these Funds remain open after such closing time.

The Funds price purchase, exchange and redemption orders at the net asset value calculated after the transfer agent receives an order in good order. Any applicable sales charges are applied at the time an order is processed. A Fund may postpone the right of redemption only under unusual circumstances, as allowed by the Securities and Exchange Commission, such as when the NYSE restricts or suspends trading.

Taxes

A Fund intends to qualify each year as a regulated investment company and, as such, is not subject to entity-level tax on the income and gain it distributes to shareholders. If you are a taxable investor, dividends and distributions you receive from a Fund generally are taxable to you whether you reinvest distributions in additional Fund shares or take them in cash. Every year, you will be sent information showing the amount of dividends and distributions you received from a Fund during the prior calendar year. In addition, investors in taxable accounts should be aware of the following basic tax points as supplemented below where relevant:

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.

If you are an individual and meet certain holding period requirements, a portion of income dividends paid to you by a Fund may be designated as qualified dividend income eligible for taxation at long-term capital gain rates. These reduced rates generally are available (through 2012) for dividends derived from a Fund’s investment in stocks of domestic corporations and qualified foreign corporations. In the case of a Fund that invests primarily in debt securities, either none or only a nominal portion of the dividends paid by the Fund will be eligible for taxation at these reduced rates.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

The above discussion concerning the taxability of Fund dividends and distributions and of redemptions and exchanges of Fund shares is inapplicable to investors that generally are exempt from federal income tax, such as retirement plans that are qualified under Section 401 and 403 of the Code and individual retirement accounts (IRAs) and Roth IRAs.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds

Because of “noncash” expenses such as property depreciation, the cash flow of a REIT that owns properties will exceed its taxable income. The REIT, and in turn a Fund, may distribute this excess cash to shareholders. Such a distribution is classified as a return of capital. Return-of capital distributions generally are not taxable to you. Your cost basis in your Fund shares will be decreased by the amount of any return of capital. Any return of capital distributions in excess of your cost basis will be treated as capital gains.


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

The Funds must meet certain requirements under the Code for favorable tax treatment as a regulated investment company, including asset diversification and income requirements. The Funds intend to treat the income each derives from commodity-linked notes and their respective Subsidiary as qualifying income. If, contrary to a number of private letter rulings (PLRs) issued by the IRS, the IRS were to determine such income is non qualifying, a Fund might fail to satisfy the income requirement. In lieu of disqualification, the Funds are permitted to pay a tax for certain failures to satisfy the asset diversification or income requirements, which, in general, are limited to those due to reasonable cause and not willful neglect for taxable years of the Fund with respect to which the extended due date of the return is after December 22, 2010. The Funds intend to limit their investments in their respective Subsidiary to no more than 25% of the value of each Fund’s total assets in order to satisfy the asset diversification requirement.

Additionally, the Invesco Balanced-Risk Allocation Fund and the Invesco Balanced-Risk Commodity Strategy Fund have received a PLR from the IRS holding that the Funds’ income from a form of commodity-linked note is qualifying income. The Invesco Balanced-Risk Allocation Fund has also received a PLR from the IRS holding that its income derived from its Subsidiary’s investments in commodity-linked derivatives is qualifying income.

Invesco Emerging Market Local Currency Debt Fund

The Fund may realize gains from the sale or other disposition of foreign currencies (including but not limited to gains from options, futures or forward contracts) derived from investing in securities or foreign currencies. The U.S. Treasury Department is authorized to issue regulations on whether the realization of such foreign currency gains is qualified income for the Fund. If such regulations are issued, the Fund may not qualify as a regulated investment company and/or the Fund may change its investment policy. As of the date of this prospectus, no regulations have been issued pursuant to this authorization. It is possible, however, that such regulations may be issued in the future. Additionally, the IRS has not issued any guidance on how to apply the asset diversification test to such foreign currency positions. Thus, the IRS’ determination as to how to treat such foreign currency positions for purposes of satisfying the asset diversification test might differ from that of the Fund, resulting in the Fund’s failure to qualify as a regulated investment company. In lieu of disqualification, the Fund is permitted to pay a tax for certain failures to satisfy the asset diversification or income requirements, which, in general, are limited to those due to reasonable cause and not willful neglect for taxable years of the Fund with respect to which the extended due date of the return is after December 22, 2010.

This discussion of “Taxes” is for general information only and not tax advice. All investors should consult their own tax advisers as to the federal, state, local and foreign tax provisions applicable to them.

Payments to Financial Intermediaries

The financial adviser or intermediary through which you purchase your shares may receive all or a portion of the sales charges and distribution fees discussed above. In addition to those payments, Invesco Distributors and other Invesco Affiliates, may make additional cash payments to financial intermediaries in connection with the promotion and sale of shares of the Funds. These additional cash payments may include cash payments and other payments for certain marketing and support services. Invesco Affiliates make these payments from their own resources, from Invesco Distributors’ retention of initial sales charges and from payments to Invesco Distributors made by the Funds under their 12b-1 plans. In the context of this prospectus, “financial intermediaries” include any broker, dealer, bank (including bank trust departments), registered investment adviser, financial planner, retirement plan administrator, insurance company and any other financial intermediary having a selling, administration or similar agreement with Invesco Affiliates.

A-14 The Invesco Funds

Invesco Affiliates make may be calculated based on sales of shares of the Funds (Sales-Based Payments), in which case the total amount of such payments shall not exceed 0.25% of the public offering price of all shares sold by the financial intermediary during the particular period. Payments may also be calculated based on the average daily net assets of the applicable Funds attributable to that particular financial intermediary (Asset-Based Payments), in which case the total amount of such cash payments shall not exceed 0.25% per annum of those assets during a defined period. Sales-Based Payments primarily create incentives to make new sales of shares of the Funds and Asset-Based Payments primarily create incentives to retain previously sold shares of the Funds in investor accounts. Invesco Affiliates may pay a financial intermediary either or both Sales-Based Payments and Asset-Based Payments.

Invesco Affiliates are motivated to make these payments as they promote the sale of Fund shares and the retention of those investments by clients of financial intermediary. To the extent financial intermediaries sell more shares of the Funds or retain shares of the Funds in their clients’ accounts, Invesco Affiliates benefit from the incremental management and other fees paid to Invesco Affiliates by the Funds with respect to those assets.

Invesco Affiliates also may make payments to certain financial intermediaries for certain administrative services, including record keeping and sub-accounting of shareholder accounts pursuant to a sub-transfer agency, omnibus account service or sub-accounting agreement. All fees payable by Invesco Affiliates under this category of services are charged back to the Funds, subject to certain limitations approved by the Board.

You can find further details in the Fund’s SAI about these payments and the services provided by financial intermediaries. In certain cases these payments could be significant to the financial intermediary. Your financial adviser may charge you additional fees or commissions other than those disclosed in this prospectus. You can ask your financial adviser about any payments it receives from Invesco Affiliates or the Funds, as well as about fees and/or commissions it charges.

Important Notice Regarding Delivery of Security Holder Documents

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at 800-959-4246 or contact your financial institution. We will begin sending you individual copies for each account within thirty days after receiving your request.

A-15 The Invesco Funds

Obtaining Additional Information

More information may be obtained free of charge upon request. The SAI, a current version of which is on file with the SEC, contains more details about the Fund and is incorporated by reference into the prospectus (is legally a part of the prospectus). Annual and semi-annual reports to shareholders contain additional information about the Fund’s investments. The Fund’s annual report also discusses the market conditions and investment strategies that significantly affected the Fund’s performance during its last fiscal year. The Fund also files its complete schedule of portfolio holdings with the SEC for the 1st and 3rd quarters of each fiscal year on Form N-Q.

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us

You can also review and obtain copies of the Fund’s SAI, annual or semi-annual reports, Forms N-Q and other information at the SEC’s Public Reference Room in Washington, DC; on the EDGAR database on the SEC’s Web site (http://www.sec.gov); or, after paying a duplicating fee, by sending a letter to the SEC’s Public Reference Section, Washington, DC 20549-1520 or by sending an electronic mail request to publicinfo@sec.gov. Please call the SEC at 1-202-551-8090 for information about the Public Reference Room.





Invesco Dynamics Fund
SEC 1940 Act file number: 811-05686


invesco.com/us I-DYN-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return through growth of capital and current income.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	A			B			C			R			Y

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		5.50	%		None			None			None			None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None			5.00	%		1.00	%		None			None

Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 31 days of purchase)		2.00	%		2.00	%		2.00	%		2.00	%		2.00	%



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			R			Y

Management Fees		0.74	%		0.74	%		0.74	%		0.74	%		0.74	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			0.50			None

Other Expenses		0.44			0.44			0.44			0.44			0.44

Total Annual Fund Operating Expenses		1.43			2.18			2.18			1.68			1.18

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	688	$	978	$	1,289	$	2,169

Class B		721		982		1,369		2,323

Class C		321		682		1,169		2,513

Class R		171		530		913		1,987

Class Y		120		375		649		1,432

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	688	$	978	$	1,289	$	2,169

Class B		221		682		1,169		2,323

Class C		221		682		1,169		2,513

Class R		171		530		913		1,987

Class Y		120		375		649		1,432

Principal Investment Strategies of the Fund

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of real estate and real estate-related issuers. The Fund invests primarily in equity securities but may also invest in debt securities including U.S. Treasury and agency bonds and notes.

The Fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate. These companies include (i) real estate investment trusts (REITs) or other real estate operating companies that (a) own property, (b) make or invest in short term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) companies whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund may invest in equity and debt securities of companies unrelated to the real estate industry that the portfolio managers believe are undervalued and have potential for growth of capital. The Fund limits its investments in debt securities unrelated to the real estate industry to those that are investment-grade or deemed by the Fund’s portfolio managers to be of comparable quality.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

1 Invesco Global Real Estate Fund

the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short if, as a result of such short sale, the aggregate market value of all securities sold short exceeds 10% of the Fund’s net assets.

The portfolio managers use a fundamentals-driven investment process, including an evaluation of factors such as real property market cycle analysis, real property evaluation and management and structure review to identify securities with characteristics including (i) quality underlying properties, (ii) solid management teams with the ability to effectively manage capital structure decisions, and (iii) attractive valuations relative to peer investment alternatives. The portfolio managers and investment team focus on equity REITs and real estate operating issuers. Some of the fundamental factors that are evaluated in screening potential investments for the Fund include: forecasted occupancy and rental rates of the various property markets in which a firm may operate, property locations, physical attributes and cash flow generating capacity of an issuer’s properties and calculating relative return potential, asset quality, management depth and skill, insider ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios. The issuers that are believed to have the most attractive fundamental attributes are then screened according to pricing factors that allow the management team to assess security valuations relative to one another and relative to the investment teams’ assessment of underlying asset value. The portfolio managers also consider the relative liquidity of each security in the construction of the Fund. The portfolio managers seek to construct a portfolio with risk characteristics similar to the FTSE EPRA/NAREIT Developed Real Estate Index (the benchmark index). The Fund seeks to limit risk through various controls, such as diversifying the portfolio property types and geographic areas as well as by limiting the size of any one holding. Various factors may lead to overweighting or underweighting of particular property types and/or geographic areas from time to time.

The portfolio managers will consider selling a security if they conclude (1) its relative valuation falls below desired levels, (2) its risk/return profile changes significantly, (3) its fundamentals change, or (4) a more attractive investment opportunity is identified.

Principal Risks of Investing in the Fund

Concentration Risk . To the extent the Fund invests a greater amount in any one sector or industry, the Fund’s performance will depend to a greater extent on the overall condition of the sector or industry, and there is increased risk to the Fund if conditions adversely affect that sector or industry.

Credit Risk . The issuer of instruments in which the Fund invests may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.

High Yield Bond (Junk Bond) Risk . Junk bonds involve a greater risk of default or price changes due to changes in the credit quality of the issuer. The values of junk bonds fluctuate more than those of high-quality bonds in response to company, political, regulatory or economic developments. Values of junk bonds can decline significantly over short periods of time.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

REIT Risk/Real Estate Risk . Investments in real estate related instruments may be affected by economic, legal, cultural, environmental or technological factors that affect property values, rents or occupancies of real estate related to the Fund’s holdings. Real estate companies, including REITs or similar structures, tend to be small and mid cap companies, and their shares may be more volatile and less liquid. The value of investments in real estate related companies may be affected by the quality of management, the ability to repay loans, the utilization of leverage and financial covenants related thereto, whether the company carries adequate insurance and environmental factors. If a real estate related company defaults, the Fund may own real estate directly, which involves the following additional risks: environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Short Sales Risk . Short sales may cause the Fund to repurchase a security at a higher price, causing a loss. As there is no limit on how much the price of the security can increase, the Fund’s exposure is unlimited.

Synthetic Securities Risk . Fluctuations in the values of synthetic instruments may not correlate perfectly with the instruments they are designed to replicate. Some synthetic instruments are more sensitive to interest rate changes and market price fluctuations than others. These instruments may be subject to counterparty risk and liquidity risk.

U.S. Government Obligations Risk . Obligations issued by U.S. government agencies and instrumentalities may receive varying levels of support from the government, which could affect the Fund’s ability to recover should they default.

Performance Information

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A shares year-to-date (ended March 31, 2011): 1.88%

Best Quarter (ended June 30, 2009): 29.57%

Worst Quarter (ended December 31, 2008): -29.51%

2 Invesco Global Real Estate Fund



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			Since
	Year			Years			Inception

Class A shares: Inception (4/29/2005)
Return Before Taxes		10.55	%		1.15	%		3.94	%
Return After Taxes on Distributions		9.07			-0.23			2.60
Return After Taxes on Distributions and Sale of Fund Shares		7.00			0.31			2.72

Class B shares: Inception (4/29/2005)		11.14			1.20			4.06

Class C shares: Inception (4/29/2005)		15.14			1.51			4.20

Class R shares: Inception (4/29/2005)		16.69			2.05			4.73

Class Y shares ¹ : Inception (10/3/2008)		17.37			2.43			5.11

MSCI World Index ^SM : Inception (4/30/05)		11.76			2.43			4.40

FTSE EPRA/NAREIT Developed Real Estate Index: Inception (4/30/2005) (reflects no deduction for fees, expenses or taxes)		20.40			2.88			5.50

Lipper Global Real Estate Funds Category Average: Inception (04/30/2005)		19.03			1.30			4.09


1		Class Y shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Investment Sub-Adviser: Invesco Asset Management Limited


Portfolio Managers	Title	Length of Service on the Fund

Joe Rodriguez, Jr.	Portfolio Manager (lead)		2005

Mark Blackburn	Portfolio Manager		2005

James Cowen	Portfolio Manager		2008

Paul Curbo	Portfolio Manager		2007

Darin Turner	Portfolio Manager		2010

Ping-Ying Wang	Portfolio Manager		2006

Purchase and Sale of Fund Shares


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is total return through growth of capital and current income. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

The Fund invests, under normal circumstances, in issuers located in at least three different countries, including the U.S.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

3 Invesco Global Real Estate Fund

The Fund may engage in short sales of securities. A short sale occurs when the Fund sells a security, but does not deliver a security it owns when the sale settles. Instead, it borrows that security for delivery when the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short if, as a result of such short sale, the aggregate market value of all securities sold short exceeds 10% of the Fund’s net assets.

When constructing the portfolio, the portfolio managers use a fundamentals-driven investment process, including an evaluation of factors such as real property market cycle analysis, real property evaluation and management and structure review to identify securities with characteristics including (i) quality underlying properties, (ii) solid management teams with the ability to effectively manage capital structure decisions, and (iii) attractive valuations relative to peer investment alternatives. The portfolio managers and investment team focus on equity REITs and real estate operating issuers. Equity REITs generally invest a majority of their assets in income-producing real estate properties in order to generate cash flow from rental income and a gradual asset appreciation. Each potential investment is analyzed using fundamental research and pricing components to identify attractively priced securities that appear to have relatively favorable long-term prospects. Some of the fundamental factors that are evaluated in screening potential investments for the Fund include: forecasted occupancy and rental rates of the various property markets in which a firm may operate, property locations, physical attributes and cash flow generating capacity of an issuer’s properties and calculating relative return potential, asset quality, management depth and skill, insider ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios. The market and issuer research available to the investment team helps the portfolio managers in their efforts to identify REITs and real estate issuers operating in the most attractive markets that represent quality properties and solid management teams with the ability to effectively manage capital structure decisions. The issuers that are believed to have the most attractive fundamental attributes are then screened according to pricing factors that allow the management team to assess security valuations relative to one another and relative to the investment teams’ assessment of underlying asset value. The fundamental research and pricing factors are combined to identify attractively priced securities of issuers that appear to have relatively favorable long-term prospects. The portfolio managers also consider the relative liquidity of each security in the construction of the Fund. The portfolio managers seek to construct a portfolio with risk characteristics similar to the FTSE EPRA/NAREIT Developed Real Estate Index (the benchmark index). The Fund seeks to limit risk through various controls, such as diversifying the portfolio property types and geographic areas as well as by limiting the size of any one holding. Various factors may lead to overweighting or underweighting of particular property types and/or geographic areas from time to time. The Fund uses the benchmark index as a guide in structuring the portfolio, but the Fund is not an index fund.

Risks

The principal risks of investing in the Fund are:

Credit Risk . The issuers of instruments in which the Fund invests may be unable to meet interest and/or principal payments. This risk is increased to the extent the Fund invests in junk bonds. An issuer’s securities may decrease in value if its financial strength weakens, which may reduce its credit rating and possibly its ability to meet its contractual obligations.

High Yield Bond (Junk Bond) Risk . Compared to higher quality debt securities, junk bonds involve a greater risk of default or price changes due to changes in the credit quality of the issuer because they are generally unsecured and may be subordinated to other creditors’ claims. The values of junk bonds often fluctuate more in response to company, political, regulatory or economic developments than higher quality bonds. Their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at a fair price. Credit ratings on junk bonds do not necessarily reflect their actual market value.

Interest Rate Risk . Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics. One measure of this sensitivity is called duration. The longer the duration of a particular bond, the greater its price sensitivity is to interest rates. Similarly, a longer duration portfolio of securities has greater price sensitivity. Falling interest rates may also prompt some issuers to refinance existing debt, which could affect the Fund’s performance.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

4 Invesco Global Real Estate Fund

involves the following additional risks: environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Short Sales Risk . If the Fund sells short a security that it does not own and the security increases in value, the Fund will pay a higher price to repurchase the security. The more the Fund pays, the more it will lose on the transaction, which adversely affects its share price. As there is no limit on how much the price of the security can increase, the Fund’s exposure is unlimited.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Invesco Asset Management Limited (the Sub-Adviser or Invesco Asset Management) serves as the Fund’s investment sub-adviser. Invesco Asset Management, an affiliate of the Adviser, is located at 30 Finsbury Square, London EC2A, United Kingdom. The Sub-Adviser is responsible for the Fund’s day-to-day management, including the Fund’s investment decisions and the execution of securities transactions with respect to the Fund.

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.74% of Invesco Global Real Estate Fund’s average daily net assets.

Invesco, not the Fund, pays sub-advisory fees, if any.

Portfolio Managers

Investment decisions for the Fund are made by the investment management teams at Invesco and Invesco Asset Management. The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Joe Rodriguez, Jr., (lead manager), Portfolio Manager, who has been responsible for the Fund since 2005 and has been associated with Invesco and/or its affiliates since 1990.

n	Mark Blackburn, Portfolio Manager, who has been responsible for the Fund since 2005 and has been associated with Invesco and/or its affiliates since 1998.


n	James Cowen, Portfolio Manager, who has been responsible for the Fund since 2008. Mr. Cowen previously managed the Fund from January, 2006 to January, 2007, and has been a member of Invesco’s Real Estate Team since 2001. Mr. Cowen has been associated with Invesco Asset Management and/or its affiliates since 2001.


n	Paul Curbo, Portfolio Manager, who has been responsible for the Fund since 2007 and has been associated with Invesco and/or its affiliates since 1998.


n	Darin Turner, Portfolio Manager, who has been responsible for the Fund since 2010 and has been associated with Invesco and/or its affiliates since 2005.


n	Ping-Ying Wang, Portfolio Manager, who has been responsible for the Fund since 2006 and has been associated with Invesco and/or its affiliates since 1998.

The lead manager generally has final authority over all aspects of the Fund’s investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio construction techniques, portfolio risk assessment, and the management of daily cash flows in accordance with portfolio holdings. The degree to which the lead manager may perform these functions, and the nature of these functions, may change from time to time.

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Global Real Estate Fund are subject to the maximum 5.50% initial sales charge as listed under the heading “Category I Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist of ordinary income, capital gains, or some combination of both.

Dividends

The Fund generally declares and pays dividends from net investment income, if any, quarterly.

Capital Gains Distributions

5 Invesco Global Real Estate Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																												Ratio of			Ratio of
						Net gains																						expenses			expenses
						(losses) on																						to average			to average net			Ratio of net
	Net asset					securities						Dividends			Distributions													net assets			assets without			investment
	value,		Net			(both			Total from			from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment			realized and			investment			investment			realized			Total			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income			unrealized)			operations			income			gains			Distributions			of period ^(a)		return ^(b)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(c)


Class A
Year ended 02/28/11	$	9.01	$	0.24	^(d)(e)	$	2.03		$	2.27		$	(0.45	)	$	—		$	(0.45	)	$	10.83		25.61	%	$	295,582		1.43	% ^(f)		1.43	% ^(f)		2.46	% ^(e)(f)		80	%
Seven months ended 02/28/10		8.22		0.09	^(d)		0.93			1.02			(0.23	)		—			(0.23	)		9.01		12.36			233,895		1.40	^(g)		1.40	^(g)		1.68	^(g)		46
Year ended 07/31/09		11.54		0.22	^(d)		(3.44	)		(3.22	)		(0.09	)		(0.01	)		(0.10	)		8.22		(27.79	)		208,752		1.59			1.59			2.79			78
Year ended 07/31/08		14.88		0.23	^(d)		(2.19	)		(1.96	)		(0.90	)		(0.48	)		(1.38	)		11.54		(14.46	)		390,981		1.38			1.38			1.66			59
Year ended 07/31/07		13.50		0.18	^(d)		1.83			2.01			(0.47	)		(0.16	)		(0.63	)		14.88		14.88			481,099		1.36			1.36			1.12			46
Year ended 07/31/06		10.99		0.18			2.57			2.75			(0.23	)		(0.01	)		(0.24	)		13.50		25.31			162,427		1.41			1.57			1.39			31

Class B
Year ended 02/28/11		8.99		0.17	^(d)(e)		2.03			2.20			(0.38	)		—			(0.38	)		10.81		24.75			15,047		2.18	^(f)		2.18	^(f)		1.71	^(e)(f)		80
Seven months ended 02/28/10		8.21		0.05	^(d)		0.93			0.98			(0.20	)		—			(0.20	)		8.99		11.85			14,780		2.15	^(g)		2.15	^(g)		0.93	^(g)		46
Year ended 07/31/09		11.53		0.16	^(d)		(3.43	)		(3.27	)		(0.04	)		(0.01	)		(0.05	)		8.21		(28.35	)		14,870		2.34			2.34			2.04			78
Year ended 07/31/08		14.86		0.13	^(d)		(2.19	)		(2.06	)		(0.79	)		(0.48	)		(1.27	)		11.53		(15.09	)		32,535		2.13			2.13			0.91			59
Year ended 07/31/07		13.49		0.06	^(d)		1.83			1.89			(0.36	)		(0.16	)		(0.52	)		14.86		14.02			53,038		2.11			2.11			0.37			46
Year ended 07/31/06		10.98		0.09			2.57			2.66			(0.14	)		(0.01	)		(0.15	)		13.49		24.41			20,860		2.16			2.32			0.64			31

Class C
Year ended 02/28/11		8.99		0.17	^(d)(e)		2.03			2.20			(0.38	)		—			(0.38	)		10.81		24.74			44,885		2.18	^(f)		2.18	^(f)		1.71	^(e)(f)		80
Seven months ended 02/28/10		8.22		0.05	^(d)		0.92			0.97			(0.20	)		—			(0.20	)		8.99		11.71			38,957		2.15	^(g)		2.15	^(g)		0.93	^(g)		46
Year ended 07/31/09		11.54		0.16	^(d)		(3.43	)		(3.27	)		(0.04	)		(0.01	)		(0.05	)		8.22		(28.33	)		36,020		2.34			2.34			2.04			78
Year ended 07/31/08		14.86		0.13	^(d)		(2.18	)		(2.05	)		(0.79	)		(0.48	)		(1.27	)		11.54		(15.02	)		77,201		2.13			2.13			0.91			59
Year ended 07/31/07		13.50		0.06	^(d)		1.82			1.88			(0.36	)		(0.16	)		(0.52	)		14.86		13.93			112,613		2.11			2.11			0.37			46
Year ended 07/31/06		10.98		0.09			2.58			2.67			(0.14	)		(0.01	)		(0.15	)		13.50		24.50			35,932		2.16			2.32			0.64			31

Class R
Year ended 02/28/11		9.00		0.22	^(d)(e)		2.04			2.26			(0.43	)		—			(0.43	)		10.83		25.44			12,571		1.68	^(f)		1.68	^(f)		2.21	^(e)(f)		80
Seven months ended 02/28/10		8.22		0.08	^(d)		0.92			1.00			(0.22	)		—			(0.22	)		9.00		12.10			9,254		1.65	^(g)		1.65	^(g)		1.43	^(g)		46
Year ended 07/31/09		11.54		0.19	^(d)		(3.43	)		(3.24	)		(0.07	)		(0.01	)		(0.08	)		8.22		(27.97	)		7,545		1.84			1.84			2.54			78
Year ended 07/31/08		14.87		0.19	^(d)		(2.17	)		(1.98	)		(0.87	)		(0.48	)		(1.35	)		11.54		(14.63	)		7,032		1.63			1.63			1.41			59
Year ended 07/31/07		13.50		0.14	^(d)		1.82			1.96			(0.43	)		(0.16	)		(0.59	)		14.87		14.52			3,610		1.61			1.61			0.87			46
Year ended 07/31/06		10.99		0.15			2.57			2.72			(0.20	)		(0.01	)		(0.21	)		13.50		25.00			1,104		1.66			1.82			1.14			31

Class Y
Year ended 02/28/11		9.02		0.27	^(d)(e)		2.03			2.30			(0.47	)		—			(0.47	)		10.85		26.01			182,981		1.18	^(f)		1.18	^(f)		2.71	^(e)(f)		80
Seven months ended 02/28/10		8.23		0.10	^(d)		0.93			1.03			(0.24	)		—			(0.24	)		9.02		12.48			122,613		1.15	^(g)		1.15	^(g)		1.93	^(g)		46
Year ended 07/31/09 ^(h)		9.58		0.17	^(d)		(1.44	)		(1.27	)		(0.07	)		(0.01	)		(0.08	)		8.23		(13.03	)		52,830		1.40	^(g)		1.40	^(g)		2.98	^(g)		78


(a)		Includes redemption fees added to shares of beneficial interest which were less than $0.005 per share.
(b)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(c)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(d)		Calculated using average shares outstanding.
(e)		Net investment income per share and the ratio of net investment income to average net assets includes a special cash dividend received of $2.63 per share of Westfield Group on December 13, 2010. Net investment income per share and the ratio of net investment income excluding the special dividend are $0.18 and 1.81%; $0.10 and 1.06%; $0.10 and 1.06%; $0.15 and 1.56%; and $0.20 and 2.06% for Class A, Class B, Class C, Class R and Class Y shares, respectively.
(f)		Ratios are based on average daily net assets (000’s) of $255,230, $14,818, $41,231, $10,920 and $149,590 for Class A, Class B, Class C, Class R and Class Y shares, respectively.
(g)		Annualized.
(h)		Commencement date of October 3, 2008.

7 Invesco Global Real Estate Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(2	.13)%		1	.37%		4	.99%		8	.73%		12	.62%		16	.64%		20	.80%		25	.11%		29	.58%		34	.21%
End of Year Balance	$	9,787	.37	$	10,136	.77	$	10,498	.66	$	10,873	.46	$	11,261	.64	$	11,663	.68	$	12,080	.08	$	12,511	.33	$	12,957	.99	$	13,420	.59
Estimated Annual Expenses	$	687	.55	$	142	.46	$	147	.54	$	152	.81	$	158	.27	$	163	.92	$	169	.77	$	175	.83	$	182	.11	$	188	.61


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%		1	.43%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.57%		7	.27%		11	.10%		15	.06%		19	.17%		23	.43%		27	.83%		32	.40%		37	.12%		42	.02%
End of Year Balance	$	10,357	.00	$	10,726	.74	$	11,109	.69	$	11,506	.31	$	11,917	.08	$	12,342	.52	$	12,783	.15	$	13,239	.51	$	13,712	.16	$	14,201	.68
Estimated Annual Expenses	$	145	.55	$	150	.75	$	156	.13	$	161	.70	$	167	.48	$	173	.46	$	179	.65	$	186	.06	$	192	.70	$	199	.58


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		1	.43%		1	.43%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		2	.82%		5	.72%		8	.70%		11	.77%		14	.92%		18	.16%		21	.49%		24	.92%		29	.38%		34	.00%
End of Year Balance	$	10,282	.00	$	10,571	.95	$	10,870	.08	$	11,176	.62	$	11,491	.80	$	11,815	.87	$	12,149	.07	$	12,491	.68	$	12,937	.63	$	13,399	.50
Estimated Annual Expenses	$	221	.07	$	227	.31	$	233	.72	$	240	.31	$	247	.09	$	254	.05	$	261	.22	$	268	.58	$	181	.82	$	188	.31


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%		2	.18%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		2	.82%		5	.72%		8	.70%		11	.77%		14	.92%		18	.16%		21	.49%		24	.92%		28	.44%		32	.06%
End of Year Balance	$	10,282	.00	$	10,571	.95	$	10,870	.08	$	11,176	.62	$	11,491	.80	$	11,815	.87	$	12,149	.07	$	12,491	.68	$	12,843	.94	$	13,206	.14
Estimated Annual Expenses	$	221	.07	$	227	.31	$	233	.72	$	240	.31	$	247	.09	$	254	.05	$	261	.22	$	268	.58	$	276	.16	$	283	.95


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%		1	.68%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.32%		6	.75%		10	.29%		13	.96%		17	.74%		21	.65%		25	.69%		29	.86%		34	.17%		38	.63%
End of Year Balance	$	10,332	.00	$	10,675	.02	$	11,029	.43	$	11,395	.61	$	11,773	.94	$	12,164	.84	$	12,568	.71	$	12,985	.99	$	13,417	.13	$	13,862	.58
Estimated Annual Expenses	$	170	.79	$	176	.46	$	182	.32	$	188	.37	$	194	.62	$	201	.09	$	207	.76	$	214	.66	$	221	.79	$	229	.15


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%		1	.18%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.82%		7	.79%		11	.90%		16	.18%		20	.62%		25	.22%		30	.01%		34	.97%		40	.13%		45	.48%
End of Year Balance	$	10,382	.00	$	10,778	.59	$	11,190	.33	$	11,617	.81	$	12,061	.61	$	12,522	.36	$	13,000	.71	$	13,497	.34	$	14,012	.94	$	14,548	.23
Estimated Annual Expenses	$	120	.25	$	124	.85	$	129	.62	$	134	.57	$	139	.71	$	145	.05	$	150	.59	$	156	.34	$	162	.31	$	168	.51


1		Your actual expenses may be higher or lower than those shown.
2		The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

8 Invesco Global Real Estate Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Global Real Estate Fund
SEC 1940 Act file number: 811-05686


invesco.com/us GRE-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	A			B			C			Y			Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		4.75	%		None			None			None			None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None			5.00	%		1.00	%		None			None

Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 31 days of purchase)		2.00	%		2.00	%		2.00	%		2.00	%		2.00	%



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			Y			Investor

Management Fees		0.51	%		0.51	%		0.51	%		0.51	%		0.51	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			None			0.25

Other Expenses		0.22			0.22			0.22			0.22			0.22

Total Annual Fund Operating Expenses ¹		0.98			1.73			1.73			0.73			0.98

Fee Waiver and/or Expense Reimbursement ²		0.09			0.09			0.09			0.09			0.09

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement		0.89			1.64			1.64			0.64			0.89


1		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.
2		Effective June 6, 2011, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed, through at least June 30, 2013 to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding certain items discussed in the SAI) of Class A, Class B, Class C, Class Y and Investor Class shares to 0.89%, 1.64%, 1.64%, 0.64% and 0.89%, respectively, of average daily net assets. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2013.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	562	$	755	$	974	$	1,603

Class B		667		827		1,121		1,827

Class C		267		527		921		2,026

Class Y		65		215		388		889

Investor		91		294		524		1,185

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	562	$	755	$	974	$	1,603

Class B		167		527		921		1,827

Class C		167		527		921		2,026

Class Y		65		215		388		889

Investor		91		294		524		1,185

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities that are determined to be below investment grade quality.

The Fund considers debt securities to be below investment grade quality if they are rated BB/Ba or lower by Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc., or any other nationally recognized statistical rating organization (NRSRO), or are determined by the portfolio managers to be of comparable quality to such rated securities. These types of securities are commonly known as “junk bonds.” The Fund will principally invest in junk bonds rated B or above by an NRSRO or deemed to be of comparable quality by the portfolio managers.

The Fund may invest up to 25% of its total assets in foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure. The Fund may also invest up to 15% of its total assets in securities of issuers located in developing markets.

In selecting securities for the Fund’s portfolio, the portfolio managers focus on junk bonds that they believe have favorable prospects for high current income and the possibility of growth of capital. Before purchasing securities for the Fund, the portfolio managers conduct a bottom-up fundamental analysis of an issuer that involves an evaluation by a team of credit analysts of an issuer’s financial condition. The fundamental analysis is supplemented by (i) an ongoing review of the securities’ relative value compared with other junk bonds, and (ii) a top-down analysis of sector and macro-economic trends.

The portfolio managers attempt to control the Fund’s risk by (i) limiting the portfolio’s assets that are invested in any one security, and (ii) diversifying the portfolio’s holdings over a number of different industries. The portfolio managers will consider selling a security if (1) there appears to be deterioration in a security’s risk profile, or (2) they determine that other securities offer better value.

1 Invesco High Yield Fund

The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. Derivatives are financial instruments whose value is based on the value of another underlying asset, interest rate, index or financial instrument. The Fund’s use of derivatives may involve the purchase and sale of swaps, structured investments, and other related instruments and techniques. The Fund may also use forward foreign currency exchange contracts, which are also derivatives, in connection with its investments in foreign securities.

Principal Risks of Investing in the Fund

Derivatives Risk . Derivatives may be more difficult to purchase, sell or value than other investments and may be subject to market, interest rate, credit, leverage, counterparty and management risks. A fund investing in a derivative could lose more than the cash amount invested or incur higher taxes. Over-the-counter derivatives are also subject to counterparty risk, which is the risk that the other party to the contract will not fulfill its contractual obligation to complete the transaction with the Fund.

Developing Markets Securities Risk . Securities issued by foreign companies and governments located in developing countries may be affected more negatively by inflation, devaluation of their currencies, higher transaction costs, delays in settlement, adverse political developments, the introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, war or lack of timely information than those in developed countries.

Leverage Risk . Leverage exists when the Fund purchases or sells an instrument or enters into a transaction without investing cash in an amount equal to the full economic exposure of the instrument or transaction and the Fund could lose more than it invested. Leverage created from borrowing or certain types of transactions or instruments, including derivatives, may impair the Fund’s liquidity, cause it to liquidate positions at an unfavorable time, increase volatility or otherwise not achieve its intended objective.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A shares year-to-date (ended March 31, 2011): 3.23%

Best Quarter (ended June 30, 2009): 22.86%

Worst Quarter (ended December 31, 2008): -19.72%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A shares: Inception (7/11/1978)
Return Before Taxes		8.86	%		7.04	%		6.04	%
Return After Taxes on Distributions		6.03			3.98			2.76
Return After Taxes on Distributions and Sale of Fund Shares		5.65			4.11			3.03

Class B shares: Inception (9/1/1993)		8.16			7.00			5.92

Class C shares: Inception (8/4/1997)		12.19			7.25			5.74

Class Y shares ¹ : Inception (10/3/2008)		14.30			8.21			6.61

Investor Class shares ¹ : Inception (9/30/2003)		14.02			8.12			6.57

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index (reflects no deduction for fees, expenses or taxes)		14.94			8.90			9.01

Lipper High Current Yield Bond Funds Index		14.91			6.58			6.67


1		Class Y shares’ and Investor Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Peter Ehret	Portfolio Manager (lead)		2001

Darren Hughes	Portfolio Manager		2005

Scott Roberts	Portfolio Manager		2010

2 Invesco High Yield Fund

Purchase and Sale of Fund Shares

New or additional investments in Class B shares are no longer permitted. The minimum investments for Class A, C, Y and Investor shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is total return, comprised of current income and capital appreciation. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities that are determined to be below investment grade quality.

In selecting securities for the Fund’s portfolio, the portfolio managers focus on junk bonds that they believe have favorable prospects for high current income and the possibility of growth of capital. The portfolio managers conduct a bottom-up fundamental analysis of an issuer before its securities are purchased by the Fund. The fundamental analysis involves an evaluation by a team of credit analysts of an issuer’s financial statements in order to assess its financial condition. The credit analysts also assess the ability of an issuer to reduce its leverage (i.e., the amount of borrowed debt).

The bottom-up fundamental analysis is supplemented by (i) an ongoing review of the securities’ relative value compared with other junk bonds, and (ii) a top-down analysis of sector and macro-economic trends, such as changes in interest rates.

The portfolio managers attempt to control the Fund’s risk by (i) limiting the portfolio’s assets that are invested in any one security, and (ii) diversifying the portfolio’s holdings over a number of different industries. Although the Fund is actively managed, it is reviewed regularly against its benchmark index (the Barclays Capital U.S. Corporate High Yield Index) and its peer group index (the Lipper High Current Yield Bond Funds Index) to assess the portfolio’s relative risk and its positioning.

The portfolio managers will consider selling a security if (1) there appears to be deterioration in a security’s risk profile, or (2) they determine that other securities offer better value.

Risks

The principal risks of investing in the Fund are:

Derivatives Risk . The use of derivatives involves risks similar to, as well as risks different from, and possibly greater than, the risks associated with investing directly in securities or other more traditional instruments. Risks to which derivatives may be subject include market, interest rate, credit, leverage and management risks. They may also be more difficult to purchase, sell or value than other investments. When used for hedging or reducing exposure, the derivative may not correlate perfectly with the underlying asset, reference rate or index. A fund investing in a derivative could lose more than the cash amount invested. Over-the-counter derivatives are also subject to counterparty risk, which is the risk that the other party to the contract will not fulfill its contractual obligation to complete the transaction with the Fund. In addition, the use of certain derivatives

3 Invesco High Yield Fund

may cause the Fund to realize higher amounts of income or short-term capital gains (generally taxed at ordinary income tax rates).

Developing Markets Securities Risk . The prices of securities issued by foreign companies and governments located in developing countries may be impacted by certain factors more than those in countries with mature economies. For example, developing countries may experience higher rates of inflation or sharply devalue their currencies against the U.S. dollar, thereby causing the value of investments issued by the government or companies located in those countries to decline. Governments in developing markets may be relatively less stable. The introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, or war may result in adverse volatility in the prices of securities or currencies. Other factors may include additional transaction costs, delays in settlement procedures, and lack of timely information.

Leverage Risk . Borrowing money to buy securities exposes the Fund to leverage because the Fund can achieve a return on a capital base larger than the assets that shareholders have contributed to the Fund. Certain other transactions may give rise to a form of leverage. Leverage also exists when the Fund purchases or sells an instrument or enters into a transaction without investing cash in an amount equal to the full economic exposure of the instrument or transaction and the Fund could lose more than it invested. Such instruments may include, among others, reverse repurchase agreements, written options and derivatives, and transactions may include the use of when-issued, delayed delivery or forward commitment transactions. Except in the case of borrowing, the Fund mitigates leverage risk by segregating or earmarking liquid assets or otherwise covers transactions that may give rise to such risk. To the extent that the Fund is not able to close out a leveraged position because of market illiquidity, the Fund’s liquidity may be impaired to the extent that it has a substantial portion of liquid assets segregated or earmarked to cover obligations and may liquidate portfolio positions when it may not be advantageous to do so. Leveraging may cause the Fund to be more volatile because it may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. There can be no assurance that the Fund’s leverage strategy will be successful.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond. If interest rates decline, the underlying bond may rise in value, but the cash flows received from that bond may have to be reinvested at a lower interest rate.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.50% of Invesco High Yield Fund’s average daily net assets after fee waiver and/or expense reimbursement.

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Peter Ehret, (lead manager), Portfolio Manager, who has been responsible for the Fund since 2001 and has been associated with Invesco and/or its affiliates since 2001.


n	Darren Hughes, Portfolio Manager, who has been responsible for the Fund since 2005 and has been associated with Invesco and/or its affiliates since 1992.


n	Scott Roberts, Portfolio Manager, who has been responsible for the Fund since 2010 and has been associated with Invesco and/or its affiliates since 2000.

4 Invesco High Yield Fund

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco High Yield Fund are subject to the maximum 4.75% initial sales charge as listed under the heading “Category II Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist primarily of ordinary income.

Dividends

The Fund generally declares dividends from net investment income daily and pays them monthly.

Capital Gains Distributions

Benchmark Descriptions

Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index is an unmanaged index that covers U.S. corporate, fixed-rate, non-investment grade debt with at least one year to maturity and at least $150 million in par outstanding. Index weights for each issuer are capped at 2%.

Lipper High Current Yield Bond Funds Index is an unmanaged index considered representative of high yield bond funds tracked by Lipper.

5 Invesco High Yield Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																						Ratio of			Ratio of
						Net gains																expenses			expenses
						(losses)																to average			to average net			Ratio of net
	Net asset					on securities						Dividends										net assets			assets without			investment
	value,		Net			(both			Total from			from net			Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment			realized and			investment			investment			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income			unrealized)			operations			income			of period ^(a)		return ^(b)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(c)


Class A
Year ended 02/28/11	$	4.03	$	0.31	^(d)	$	0.30		$	0.61		$	(0.31	)	$	4.33		15.73	%	$	532,779		0.99	% ^(e)		1.04	% ^(e)		7.36	% ^(e)		91	%
Seven months ended 02/28/10		3.64		0.19	^(d)		0.39			0.58			(0.19	)		4.03		16.15			460,987		0.98	^(f)		1.04	^(f)		8.31	^(f)		62
Year ended 07/31/09		3.98		0.35	^(d)		(0.33	)		0.02			(0.36	)		3.64		2.38			397,072		1.12			1.21			10.74			104
Year ended 07/31/08		4.30		0.33			(0.31	)		0.02			(0.34	)		3.98		0.42			337,141		1.15			1.15			7.88			76
Year ended 07/31/07		4.32		0.31			(0.02	)		0.29			(0.31	)		4.30		6.78			379,525		1.11			1.11			6.98			111
Year ended 07/31/06		4.50		0.29	^(d)		(0.17	)		0.12			(0.30	)		4.32		2.79			405,858		1.16			1.16			6.70			102

Class B
Year ended 02/28/11		4.04		0.28	^(d)		0.30			0.58			(0.28	)		4.34		14.86			37,460		1.74	^(e)		1.79	^(e)		6.61	^(e)		91
Seven months ended 02/28/10		3.65		0.17	^(d)		0.39			0.56			(0.17	)		4.04		15.63			41,726		1.73	^(f)		1.79	^(f)		7.56	^(f)		62
Year ended 07/31/09		3.99		0.33	^(d)		(0.33	)		0.00			(0.34	)		3.65		1.63			42,365		1.87			1.96			9.99			104
Year ended 07/31/08		4.31		0.30			(0.31	)		(0.01	)		(0.31	)		3.99		(0.32	)		60,966		1.90			1.90			7.13			76
Year ended 07/31/07		4.33		0.28			(0.02	)		0.26			(0.28	)		4.31		5.99			104,215		1.86			1.86			6.23			111
Year ended 07/31/06		4.52		0.26	^(d)		(0.18	)		0.08			(0.27	)		4.33		1.80			167,831		1.91			1.91			5.95			102

Class C
Year ended 02/28/11		4.02		0.28	^(d)		0.30			0.58			(0.28	)		4.32		14.90			75,278		1.74	^(e)		1.79	^(e)		6.61	^(e)		91
Seven months ended 02/28/10		3.64		0.17	^(d)		0.38			0.55			(0.17	)		4.02		15.38			58,958		1.73	^(f)		1.79	^(f)		7.56	^(f)		62
Year ended 07/31/09		3.97		0.32	^(d)		(0.31	)		0.01			(0.34	)		3.64		1.86			56,672		1.87			1.96			9.99			104
Year ended 07/31/08		4.30		0.30			(0.32	)		(0.02	)		(0.31	)		3.97		(0.58	)		33,685		1.90			1.90			7.13			76
Year ended 07/31/07		4.31		0.28			(0.01	)		0.27			(0.28	)		4.30		6.24			39,234		1.86			1.86			6.23			111
Year ended 07/31/06		4.50		0.26	^(d)		(0.18	)		0.08			(0.27	)		4.31		1.80			43,467		1.91			1.91			5.95			102

Class Y
Year ended 02/28/11		4.04		0.32	^(d)		0.30			0.62			(0.32	)		4.34		16.00			35,235		0.74	^(e)		0.79	^(e)		7.61	^(e)		91
Seven months ended 02/28/10		3.65		0.19	^(d)		0.39			0.58			(0.19	)		4.04		16.28			14,512		0.73	^(f)		0.79	^(f)		8.56	^(f)		62
Year ended 07/31/09 ^(g)		3.58		0.30	^(d)		0.07			0.37			(0.30	)		3.65		12.44			11,883		0.87	^(f)		0.98	^(f)		10.99	^(f)		104

Investor Class
Year ended 02/28/11		4.03		0.31	^(d)		0.30			0.61			(0.31	)		4.33		15.73			134,144		0.99	^(e)		1.04	^(e)		7.36	^(e)		91
Seven months ended 02/28/10		3.64		0.19	^(d)		0.39			0.58			(0.19	)		4.03		16.16			122,059		0.98	^(f)		1.04	^(f)		8.31	^(f)		62
Year ended 07/31/09		3.98		0.35	^(d)		(0.33	)		0.02			(0.36	)		3.64		2.41			104,737		1.11			1.20			10.75			104
Year ended 07/31/08		4.31		0.33			(0.32	)		0.01			(0.34	)		3.98		0.21			107,906		1.11			1.11			7.92			76
Year ended 07/31/07		4.32		0.31			(0.01	)		0.30			(0.31	)		4.31		7.06			125,803		1.10			1.10			6.99			111
Year ended 07/31/06		4.51		0.30	^(d)		(0.19	)		0.11			(0.30	)		4.32		2.58			145,719		1.14			1.14			6.72			102


(a)		Includes redemption fees added to shares of beneficial interest which were less than $0.005 per share.
(b)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(c)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(d)		Calculated using average shares outstanding.
(e)		Ratios are based on average daily net assets (000’s) of $504,379, $39,152, $66,784, $18,996 and $127,142 for Class A, Class B, Class C, Class Y and Investor Class shares, respectively.
(f)		Annualized.
(g)		Commencement date of October 3, 2008.

6 Invesco High Yield Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	The Fund’s current annual expense ratio includes any applicable contractual fee waiver or expense reimbursement for the period committed;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.89%		0	.89%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(0	.84)%		3	.24%		7	.39%		11	.71%		16	.20%		20	.87%		25	.73%		30	.78%		36	.04%		41	.51%
End of Year Balance	$	9,916	.48	$	10,324	.04	$	10,739	.07	$	11,170	.78	$	11,619	.85	$	12,086	.97	$	12,572	.86	$	13,078	.29	$	13,604	.04	$	14,150	.92
Estimated Annual Expenses	$	561	.51	$	90	.07	$	103	.21	$	107	.36	$	111	.67	$	116	.16	$	120	.83	$	125	.69	$	130	.74	$	136	.00


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.89%		0	.89%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.11%		8	.39%		12	.75%		17	.28%		21	.99%		26	.90%		32	.00%		37	.30%		42	.82%		48	.57%
End of Year Balance	$	10,411	.00	$	10,838	.89	$	11,274	.62	$	11,727	.86	$	12,199	.31	$	12,689	.73	$	13,199	.85	$	13,730	.49	$	14,282	.45	$	14,856	.61
Estimated Annual Expenses	$	90	.83	$	94	.56	$	108	.36	$	112	.71	$	117	.24	$	121	.96	$	126	.86	$	131	.96	$	137	.26	$	142	.78


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.64%		1	.64%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%		0	.98%		0	.98%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.36%		6	.83%		10	.33%		13	.93%		17	.66%		21	.51%		25	.48%		29	.58%		34	.79%		40	.21%
End of Year Balance	$	10,366	.00	$	10,683	.29	$	11,032	.63	$	11,393	.40	$	11,765	.96	$	12,150	.71	$	12,548	.04	$	12,958	.36	$	13,479	.29	$	14,021	.15
Estimated Annual Expenses	$	166	.76	$	172	.36	$	187	.84	$	193	.99	$	200	.33	$	206	.88	$	213	.64	$	220	.63	$	129	.54	$	134	.75


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.64%		1	.64%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%		1	.73%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.36%		6	.83%		10	.33%		13	.93%		17	.66%		21	.51%		25	.48%		29	.58%		33	.82%		38	.20%
End of Year Balance	$	10,366	.00	$	10,683	.29	$	11,032	.63	$	11,393	.40	$	11,765	.96	$	12,150	.71	$	12,548	.04	$	12,958	.36	$	13,382	.10	$	13,819	.69
Estimated Annual Expenses	$	166	.76	$	172	.36	$	187	.84	$	193	.99	$	200	.33	$	206	.88	$	213	.64	$	220	.63	$	227	.84	$	235	.30


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.64%		0	.64%		0	.73%		0	.73%		0	.73%		0	.73%		0	.73%		0	.73%		0	.73%		0	.73%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.36%		8	.91%		13	.56%		18	.41%		23	.47%		28	.74%		34	.23%		39	.97%		45	.94%		52	.17%
End of Year Balance	$	10,436	.00	$	10,891	.01	$	11,356	.06	$	11,840	.96	$	12,346	.57	$	12,873	.77	$	13,423	.48	$	13,996	.66	$	14,594	.32	$	15,217	.49
Estimated Annual Expenses	$	65	.40	$	68	.25	$	81	.20	$	84	.67	$	88	.28	$	92	.05	$	95	.98	$	100	.08	$	104	.36	$	108	.81


INVESTOR	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.89%		0	.89%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%		0	.98%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.11%		8	.39%		12	.75%		17	.28%		21	.99%		26	.90%		32	.00%		37	.30%		42	.82%		48	.57%
End of Year Balance	$	10,411	.00	$	10,838	.89	$	11,274	.62	$	11,727	.86	$	12,199	.31	$	12,689	.73	$	13,199	.85	$	13,730	.49	$	14,282	.45	$	14,856	.61
Estimated Annual Expenses	$	90	.83	$	94	.56	$	108	.36	$	112	.71	$	117	.24	$	121	.96	$	126	.86	$	131	.96	$	137	.26	$	142	.78


1		Your actual expenses may be higher or lower than those shown.
2		The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

7 Invesco High Yield Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco High Yield Fund
SEC 1940 Act file number: 811-05686


invesco.com/us HYI-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Invesco Funds. More information about these and other discounts is available from your financial professional and in the section “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” on page A-3 of the prospectus and the section “Purchase, Redemption and Pricing of Shares—Purchase and Redemption of Shares” on page L-1 of the statement of additional information (SAI).

Shareholder Fees (fees paid directly from your investment)

Class:

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

2.50

1.00

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			A2			Y

Management Fees		0.20	%		0.20	%		0.20	%

Distribution and/or Service (12b-1) Fees		0.25			0.15			None

Other Expenses		0.27			0.27			0.27

Total Annual Fund Operating Expenses		0.72			0.62			0.47

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	322	$	474	$	641	$	1,122

Class A2		163		297		442		866

Class Y		48		151		263		591

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in direct obligations of the U.S. Treasury, including bills, notes and bonds. The Fund invests principally in short-term U.S. Treasury notes with remaining maturities of five years or less at the time of purchase.

The Fund may also invest in derivative instruments such as futures contracts and swap agreements.

The Fund intends to maintain an average weighted maturity of three years or less.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers then decide on risk factors to use in managing the Fund relative to that benchmark. In doing so, the portfolio managers consider recommendations from a team of independent specialists in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a different team of specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and security selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. The portfolio managers rely on the specialists for adjusting the Fund’s risk exposures and security selection. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g., duration, yield, curve positioning or sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Principal Risks of Investing in the Fund

Active Trading Risk . The Fund engages in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

1 Invesco Limited Maturity Treasury Fund

including derivatives, may impair the Fund’s liquidity, cause it to liquidate positions at an unfavorable time, increase volatility or otherwise not achieve its intended objective.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A2 shares year-to-date (ended March 31, 2011): -0.09%

Best Quarter (ended September 30, 2001): 3.09%

Worst Quarter (ended June 30, 2004): -1.06%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A2 shares: Inception (12/15/1987)
Return Before Taxes		-0.04	%		3.02	%		3.00	%
Return After Taxes on Distributions		-0.23			2.20			2.02
Return After Taxes on Distributions and Sale of Fund Shares		0.14			2.11			1.98

Class A shares ¹ : Inception (10/31/2002)		-1.69			2.58			2.68

Class Y shares ² : Inception (10/3/2008)		1.06			3.26			3.12

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital 1-2 Year U.S. Government Index (reflects no deduction for fees, expenses or taxes)		1.65			3.92			3.75

Lipper Short U.S. Treasury Funds Category Average		2.06			3.92			3.60


1		Class A shares’ performance shown prior to the inception date is that of Class A2 shares restated to reflect the higher 12b-1 fees applicable to Class A shares. Class A2 shares’ performance reflects any applicable fee waiver and/or expense reimbursement.
2		Class Y shares’ performance shown prior to the inception date is that of Class A2 shares and includes the 12b-1 fees applicable to Class A2 shares. Class A2 shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A2 shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Scott Case	Portfolio Manager		2009

Brian Schneider	Portfolio Manager		2009

Purchase and Sale of Fund Shares

The minimum investments for Class A, A2 and Y shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

2 Invesco Limited Maturity Treasury Fund

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund may also invest in derivative instruments such as futures contracts and swap agreements.

The Fund intends to maintain an average weighted maturity of three years or less.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers decide on appropriate risk factors such as duration and the shape of the U.S. Treasury yield curve to use in managing the Fund relative to that benchmark. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of independent, specialist decision makers in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and security selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring portfolios are positioned appropriately in terms of risk exposures and position sizes. Specialist decision makers employ a bottom-up approach to recommending larger or smaller exposure to specific risk factors. In general specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers rely on these decision makers and market specific specialists for adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology. Portfolio managers retain discretion for deciding how risk positions are implemented in the Fund. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g., duration, yield, curve positioning or sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Risks

The principal risks of investing in the Fund are:

Futures Risk . A decision as to whether, when and how to use futures involves the exercise of skill and judgment and even a well conceived futures transaction may be unsuccessful because of market behavior or unexpected events. In addition to the derivatives risks discussed above, the prices of futures can be highly volatile, using futures can lower total return, and the potential loss from futures can exceed the Fund’s initial investment in such contracts.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an

3 Invesco Limited Maturity Treasury Fund

interest rate below that on the original bond. If interest rates decline, the underlying bond may rise in value, but the cash flows received from that bond may have to be reinvested at a lower interest rate.

Swaps Risk . A swap contract is an agreement between two parties pursuant to which the parties exchange payments at specified dates on the basis of a specified notional amount, with the payments calculated by reference to specified securities, indexes, reference rates, currencies or other instruments. Most swap agreements provide that when the period payment dates for both parties are the same, the payments are made on a net basis (i.e., the two payment streams are netted out, with only the net amount paid by one party to the other). The Fund’s obligations or rights under a swap contract entered into on a net basis will generally be equal only to the net amount to be paid or received under the agreement, based on the relative values of the positions held by each counterparty. Swap agreements are not entered into or traded on exchanges and there is no central clearing or guaranty function for swaps. Therefore, swaps are subject to credit risk or the risk of default or non-performance by the counterparty. Swaps could result in losses if the reference index, security or investments do not perform as expected.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.20% of Invesco Limited Maturity Treasury Fund’s average daily net assets.

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Scott Case, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 1997.


n	Brian Schneider, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 1987.

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Limited Maturity Treasury Fund are subject to the maximum 2.50% initial sales charge as listed under the heading “Category IV Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class A2 shares of Invesco Limited Maturity Treasury Fund are subject to the maximum 1.00% initial sales charge as listed under the heading “Category III Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares only)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist of ordinary income, capital gains, or some combination of both.

Dividends

The Fund generally declares dividends from net investment income daily and pays them monthly.

Capital Gains Distributions

Closure of Class A2 shares

The Fund discontinued public sales of its Class A2 shares to new investors at the close of business on October 30, 2002.

Existing shareholders of the Fund may continue to invest in Class A2 shares of the Fund if they were invested in the Class A2 shares of the Fund at the close of business on October 30, 2002 and remain invested in Class A2 shares of the Fund after that date.

Benchmark Descriptions

Barclays Capital 1-2 Year U.S. Government Index is an unmanaged index considered representative of the U.S. Treasury and U.S. government agency issues with maturities of one to two years.

Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

Lipper Short U.S. Treasury Funds Category Average represents an average of all of the funds in the Lipper Short U.S. Treasury Funds category.

4 Invesco Limited Maturity Treasury Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																											Ratio of			Ratio of
																											expenses			expenses
						Net gains																					to average			to average net			Ratio of net
	Net asset					(losses) on					Dividends			Distributions													net assets			assets without			investment
	value,		Net			securities (both			Total from		from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment			realized and			investment		investment			realized			Total			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income			unrealized)			operations		income			gains			Distributions			of period		return ^(a)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(b)


Class A
Year ended 02/28/11	$	10.52	$	0.01	^(c)	$	0.04		$	0.05	$	(0.01	)	$	(0.09	)	$	(0.10	)	$	10.47		0.43	%	$	60,707		0.67	% ^(d)		0.72	% ^(d)		0.10	% ^(d)		144	%
Seven months ended 02/28/10		10.46		0.02	^(c)		0.06			0.08		(0.02	)		—			(0.02	)		10.52		0.76			88,726		0.74	^(e)		0.74	^(e)		0.32	^(e)		65
Year ended 07/31/09		10.27		0.12	^(c)		0.19			0.31		(0.12	)		—			(0.12	)		10.46		3.06			103,492		0.72			0.72			1.16			157
Year ended 07/31/08		10.03		0.32	^(c)		0.24			0.56		(0.32	)		—			(0.32	)		10.27		5.65			90,058		0.71			0.71			3.10			126
Year ended 07/31/07		10.00		0.40			0.03			0.43		(0.40	)		—			(0.40	)		10.03		4.37			26,431		0.77			0.77			3.98			107
Year ended 07/31/06		10.09		0.32			(0.09	)		0.23		(0.32	)		—			(0.32	)		10.00		2.31			33,476		0.76			0.76			3.16			103

Class A2
Year ended 02/28/11		10.52		0.01	^(c)		0.04			0.05		(0.01	)		(0.09	)		(0.10	)		10.47		0.49			68,724		0.60	^(d)		0.62	^(d)		0.17	^(d)		144
Seven months ended 02/28/10		10.46		0.03	^(c)		0.06			0.09		(0.03	)		—			(0.03	)		10.52		0.82			86,019		0.64	^(e)		0.64	^(e)		0.42	^(e)		65
Year ended 07/31/09		10.27		0.13	^(c)		0.19			0.32		(0.13	)		—			(0.13	)		10.46		3.16			93,789		0.62			0.62			1.26			157
Year ended 07/31/08		10.03		0.33	^(c)		0.24			0.57		(0.33	)		—			(0.33	)		10.27		5.76			114,347		0.61			0.61			3.19			126
Year ended 07/31/07		10.00		0.41			0.03			0.44		(0.41	)		—			(0.41	)		10.03		4.47			141,832		0.67			0.67			4.08			107
Year ended 07/31/06		10.10		0.33			(0.10	)		0.23		(0.33	)		—			(0.33	)		10.00		2.31			178,347		0.66			0.66			3.26			103

Class Y
Year ended 02/28/11		10.52		0.03	^(c)		0.04			0.07		(0.03	)		(0.09	)		(0.12	)		10.47		0.62			15,057		0.47	^(d)		0.47	^(d)		0.30	^(d)		144
Seven months ended 02/28/10		10.46		0.03	^(c)		0.06			0.09		(0.03	)		—			(0.03	)		10.52		0.90			9,410		0.49	^(e)		0.49	^(e)		0.57	^(e)		65
Year ended 07/31/09 ^(f)		10.39		0.12	^(c)		0.06			0.18		(0.11	)		—			(0.11	)		10.46		1.71			5,240		0.47	^(e)		0.47	^(e)		1.41	^(e)		157


(a)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(b)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(c)		Calculated using average shares outstanding.
(d)		Ratios are annualized and based on average daily net assets (000’s omitted) of $76,108, $76,570 and $13,870 for Class A, Class A2 and Class Y shares, respectively.
(e)		Annualized.
(f)		Commencement date of October 31, 2008.

5 Invesco Limited Maturity Treasury Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		1	.67%		6	.02%		10	.56%		15	.29%		20	.23%		25	.37%		30	.74%		36	.34%		42	.17%		48	.26%
End of Year Balance	$	10,167	.30	$	10,602	.46	$	11,056	.25	$	11,529	.45	$	12,022	.91	$	12,537	.49	$	13,074	.10	$	13,633	.67	$	14,217	.19	$	14,825	.69
Estimated Annual Expenses	$	321	.70	$	74	.77	$	77	.97	$	81	.31	$	84	.79	$	88	.42	$	92	.20	$	96	.15	$	100	.26	$	104	.55


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%		0	.72%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.28%		8	.74%		13	.40%		18	.25%		23	.31%		28	.59%		34	.09%		39	.83%		45	.82%		52	.06%
End of Year Balance	$	10,428	.00	$	10,874	.32	$	11,339	.74	$	11,825	.08	$	12,331	.19	$	12,858	.97	$	13,409	.33	$	13,983	.25	$	14,581	.74	$	15,205	.83
Estimated Annual Expenses	$	73	.54	$	76	.69	$	79	.97	$	83	.39	$	86	.96	$	90	.68	$	94	.57	$	98	.61	$	102	.83	$	107	.24


Class A2 (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.34%		7	.86%		12	.59%		17	.52%		22	.67%		28	.04%		33	.65%		39	.50%		45	.61%		51	.99%
End of Year Balance	$	10,333	.62	$	10,786	.23	$	11,258	.67	$	11,751	.80	$	12,266	.53	$	12,803	.80	$	13,364	.61	$	13,949	.98	$	14,560	.99	$	15,198	.76
Estimated Annual Expenses	$	162	.72	$	65	.47	$	68	.34	$	71	.33	$	74	.46	$	77	.72	$	81	.12	$	84	.68	$	88	.38	$	92	.26


Class A2 (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.38%		8	.95%		13	.72%		18	.71%		23	.90%		29	.33%		35	.00%		40	.91%		47	.08%		53	.52%
End of Year Balance	$	10,438	.00	$	10,895	.18	$	11,372	.39	$	11,870	.50	$	12,390	.43	$	12,933	.13	$	13,499	.60	$	14,090	.89	$	14,708	.07	$	15,352	.28
Estimated Annual Expenses	$	63	.36	$	66	.13	$	69	.03	$	72	.05	$	75	.21	$	78	.50	$	81	.94	$	85	.53	$	89	.28	$	93	.19


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%		0	.47%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.53%		9	.27%		14	.21%		19	.39%		24	.80%		30	.45%		36	.36%		42	.54%		48	.99%		55	.74%
End of Year Balance	$	10,453	.00	$	10,926	.52	$	11,421	.49	$	11,938	.89	$	12,479	.72	$	13,045	.05	$	13,635	.99	$	14,253	.70	$	14,899	.39	$	15,574	.33
Estimated Annual Expenses	$	48	.06	$	50	.24	$	52	.52	$	54	.90	$	57	.38	$	59	.98	$	62	.70	$	65	.54	$	68	.51	$	71	.61


1 Your actual expenses may be higher or lower than those shown.

6 Invesco Limited Maturity Treasury Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Limited Maturity Treasury Fund
SEC 1940 Act file number: 811-05686


invesco.com/us LTD-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital and liquidity.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Invesco

Cash

Reserve

Class:

Shares

Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

	Invesco
	Cash
	Reserve
Class:	Shares			B			C			R			Y			Investor

Management Fees		0.39	%		0.39	%		0.39	%		0.39	%		0.39	%		0.39	%

Distribution and/or Service (12b-1) Fees		0.15			0.90			0.90			0.40			None			None

Other Expenses		0.29			0.29			0.29			0.29			0.29			0.29

Total Annual Fund Operating Expenses		0.83			1.58			1.58			1.08			0.68			0.68

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Invesco Cash Reserve Shares	$	85	$	265	$	460	$	1,025

Class B		661		799		1,060		1,677

Class C		261		499		860		1,878

Class R		110		343		595		1,317

Class Y		69		218		379		847

Investor Class		69		218		379		847

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Invesco Cash Reserve Shares	$	85	$	265	$	460	$	1,025

Class B		161		499		860		1,677

Class C		161		499		860		1,878

Class R		110		343		595		1,317

Class Y		69		218		379		847

Investor Class		69		218		379		847

Principal Investment Strategies of the Fund

The Fund invests only in the following high-quality U.S. dollar-denominated short-term debt obligations: (i) securities issued by the U.S. Government or its agencies; (ii) bankers’ acceptances, certificates of deposit, and time deposits from U.S. or foreign banks; (iii) repurchase agreements; (iv) commercial paper; (v) taxable municipal securities; (vi) master notes; and (vii) cash equivalents. The Fund may invest in securities issued or guaranteed by companies in the financial services industry.

As permitted by Rule 2a-7 under the Investment Company Act of 1940, the Fund seeks to maintain a stable price of $1.00 per share by using the amortized cost method to value portfolio securities and rounding the share value to the nearest cent. The Fund invests in accordance with industry standard requirements for money market funds for the quality, maturity, diversification and liquidity of investments. The Fund invests only in U.S. dollar denominated securities maturing within 13 months of the date of purchase, with certain exceptions permitted by applicable regulations, and the Fund maintains an average dollar-weighted portfolio maturity of no more than 60 days. Each investment must be determined to present minimal credit risks by the Fund’s investment adviser pursuant to guidelines approved by the Fund’s Board of Trustees, and must be an “Eligible Security” as defined under applicable regulations. (“Eligible Securities” generally include securities within the top two rating categories by rating agencies (commonly referred to as “First or Second Tier Securities”), unrated securities determined to be of comparable quality by the investment adviser under the supervision of the Board of Trustees, U.S. Government securities and shares of other registered money market funds.)

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

In selecting securities for the Fund’s portfolio, the portfolio managers focus on securities that offer safety, liquidity, and a competitive yield. The portfolio managers conduct a credit analysis of each potential issuer prior to the purchase of its securities.

The portfolio managers normally hold portfolio securities to maturity. The portfolio managers consider selling a security: (i) if the issuer’s credit quality declines, (ii) as a result of interest rate changes, or (iii) to enhance yield.

1 Invesco Money Market Fund

Principal Risks of Investing in the Fund

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, you may lose money by investing in the Fund. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:

Counterparty Risk . Many of the instruments that the Fund expects to hold may be subject to the risk that the other party to a contract will not fulfill its contractual obligations.

Industry Focus Risk . To the extent the Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, the Fund’s performance will depend on the overall condition of those industries, which may be affected by the following factors: the supply of short-term financing; changes in government regulation and interest rates; and overall economy.

Liquidity Risk . The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Money Market Fund Risk . Although the Fund seeks to preserve the value of your investment at $1.00 per share, you may lose money by investing in the Fund. The share price of money market funds can fall below the $1.00 share price. You should not rely on or expect the Fund’s adviser or its affiliates to enter into support agreements or take other actions to maintain the Fund’s $1.00 share price. The credit quality of the Fund’s holdings can change rapidly in certain markets, and the default of a single holding could have an adverse impact on the Fund’s share price. The Fund’s share price can also be negatively affected during periods of high redemption pressures and/or illiquid markets. Further regulation could impact the way the Fund is managed, possibly negatively impacting its return. Additionally, the Fund’s yield will vary as the short-term securities in its portfolio mature or are sold and the proceeds are reinvested in other securities.

Variable-Rate Demand Notes Risk . The absence of an active secondary market for certain variable and floating rate notes could make it difficult to dispose of the instruments, and a portfolio could suffer a loss if the issuer defaults during periods in which a portfolio is not entitled to exercise its demand rights.

Performance Information

Annual Total Returns

Invesco Cash Reserve Shares year-to-date (ended March 31, 2011): 0.01%

Best Quarter (ended March 31, 2001): 1.18%

Worst Quarter (ended March 31, 2010): 0.00%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Invesco Cash Reserve Shares: Inception (10/16/1993)		0.03	%		2.14	%		1.84	%

Class B shares: Inception (10/16/1993)		-4.97			1.29			1.29

Class C shares: Inception (8/4/1997)		-0.97			1.67			1.33

Class R shares ¹ : Inception (6/3/2002)		0.03			1.98			1.63

Class Y shares ² : Inception (10/3/2008)		0.03			2.15			1.85

Investor Class shares ² : Inception (9/30/2003)		0.03			2.28			1.97


1		Class R shares’ performance shown prior to the inception date is that of Invesco Cash Reserve Shares restated to reflect the higher 12b-1 fees applicable to Class R shares. Invesco Cash Reserve Shares’ performance reflects any applicable fee waiver and/or expense reimbursement.
2		Class Y shares’ and Investor Class shares’ performance shown prior to the inception date is that of Invesco Cash Reserve Shares and includes the 12b-1 fees applicable to Invesco Cash Reserve Shares. Invesco Cash Reserve Shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

Invesco Cash Reserve Shares’ seven day yield on December 31, 2010, was 0.04%. For the current seven day yield, call (800) 959-4246.

2 Invesco Money Market Fund

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Purchase and Sale of Fund Shares

There are no minimum investments for Class R shares for fund accounts. New or additional investments in Class B shares are no longer permitted. The minimum investments for Class C, Y, Investor and Invesco Cash Reserve shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital and liquidity. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

The Fund may, from time to time, take temporary defensive positions by holding cash, shortening the Fund’s dollar-weighted average maturity or investing in other securities that are eligible securities for purchase by money market funds as described in this prospectus and the Fund’s Statement of Additional Information (SAI) and that are consistent with the Fund’s principal investment strategies, in anticipation of, or in response to, adverse market, economic, political or other conditions. It is possible that such investments could affect the Fund’s returns.

Risks

The principal risks of investing in the Fund are:

Counterparty Risk . Individually negotiated or over-the-counter derivatives are also subject to counterparty risk, which is the risk that the other party to the contract will not fulfill its contractual obligations, which may cause losses or additional costs to the Fund.

3 Invesco Money Market Fund

a result, there generally is less publicly available information about foreign companies than about U.S. companies. Trading in many foreign securities may be less liquid and more volatile than U.S. securities due to the size of the market or other factors.

Industry Focus Risk . To the extent the Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, the Fund’s performance will depend on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

Liquidity Risk . A security is considered to be illiquid if the Fund is unable to sell such security at a fair price within a reasonable amount of time. A security may be deemed illiquid due to a lack of trading volume in the security or if the security is privately placed and not traded in any public market or is otherwise restricted from trading. The Fund may be unable to sell illiquid securities at the time or price it desires and could lose its entire investment in such securities.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Municipal Securities Risk . The Fund may invest in municipal securities. Constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives, and the issuer’s regional economic conditions may affect the municipal security’s value, interest payments, repayment of principal and the Fund’s ability to sell it. Revenue bonds are generally not backed by the taxing power of the issuing municipality. To the extent that a municipal security is not heavily followed by the investment community or such security issue is relatively small, the security may be difficult to value or sell at a desirable price. If the Internal Revenue Service (IRS) determines that an issuer of a municipal security has not complied with applicable tax requirements, interest from the security could be treated as taxable, which could result in a decline in the security’s value. In addition, there could be changes in applicable tax laws or tax treatments that reduce or eliminate the current federal income tax exemption on municipal securities or otherwise adversely affect the current federal or state tax status of municipal securities.

Repurchase Agreement Risk . If the seller of a repurchase agreement in which the Fund invests defaults on its obligation or declares bankruptcy, the Fund may experience delays in selling the securities underlying the repurchase agreement. As a result, the Fund may incur losses arising from decline in the value of those securities, reduced levels of income and expenses of enforcing its rights.

Portfolio Holdings

Information concerning the Fund’s portfolio holdings as well as its dollar-weighted average portfolio maturity and dollar-weighted average life to maturity as of the last business day of the preceding month will be posted on its Web site no later than five business days after the end of the month and remain posted on the Web site for six months thereafter.

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser did not receive any compensation from Invesco Money Market Fund.

Other Information

Sales Charges

Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist primarily of ordinary income.

4 Invesco Money Market Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																			Ratio of			Ratio of
																			expenses			expenses
																			to average			to average net			Ratio of net
	Net asset									Dividends									net assets			assets without			investment
	value,		Net			Net gains		Total from		from net		Net asset					Net assets,		with fee waivers			fee waivers			income to
	beginning		investment			on securities		investment		investment		value, end		Total			end of period		and/or expenses			and/or expenses			average
	of period		income			(realized)		operations		income		of period		return ^(a)			(000s omitted)		absorbed			absorbed			net assets


Invesco Cash Reserve Shares
Year Ended 02/28/11	$	1.00	$	0.00	^(b)	$	0.00	$	0.00	$	(0.00)	$	1.00		0.03	%	$	656,565		0.29	% ^(c)		0.83	% ^(c)		0.03	% ^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			651,757		0.31	^(d)		0.85	^(d)		0.04	^(d)
Year Ended 07/31/09		1.00		0.01	^(b)		0.00		0.01		(0.01)		1.00		0.77			681,584		0.81			0.96			0.77
Year Ended 07/31/08		1.00		0.03	^(b)		0.00		0.03		(0.03)		1.00		3.21			727,519		0.90			0.96			3.10
Year Ended 07/31/07		1.00		0.04			—		0.04		(0.04)		1.00		4.46			554,686		1.00			1.00			4.37
Year Ended 07/31/06		1.00		0.03			—		0.03		(0.03)		1.00		3.48			642,623		1.03			1.03			3.42

Class B
Year Ended 02/28/11		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.03			73,517		0.29	^(c)		1.58	^(c)		0.03	^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			93,268		0.31	^(d)		1.60	^(d)		0.04	^(d)
Year Ended 07/31/09		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.41			116,599		1.17			1.70			0.41
Year Ended 07/31/08		1.00		0.02	^(b)		0.00		0.02		(0.02)		1.00		2.44			132,033		1.66			1.72			2.34
Year Ended 07/31/07		1.00		0.04			—		0.04		(0.04)		1.00		3.68			135,772		1.75			1.75			3.62
Year Ended 07/31/06		1.00		0.03			—		0.03		(0.03)		1.00		2.71			205,206		1.78			1.78			2.67

Class C
Year Ended 02/28/11		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.03			82,567		0.29	^(c)		1.58	^(c)		0.03	^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			93,298		0.31	^(d)		1.60	^(d)		0.04	^(d)
Year Ended 07/31/09		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.41			104,584		1.17			1.70			0.41
Year Ended 07/31/08		1.00		0.02	^(b)		0.00		0.02		(0.02)		1.00		2.44			112,005		1.65			1.71			2.35
Year Ended 07/31/07		1.00		0.04			—		0.04		(0.04)		1.00		3.68			81,387		1.75			1.75			3.62
Year Ended 07/31/06		1.00		0.03			—		0.03		(0.03)		1.00		2.71			97,087		1.78			1.78			2.67

Class R
Year Ended 02/28/11		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.03			47,227		0.29	^(c)		1.08	^(c)		0.03	^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			42,567		0.31	^(d)		1.10	^(d)		0.04	^(d)
Year Ended 07/31/09		1.00		0.01	^(b)		0.00		0.01		(0.01)		1.00		0.64			43,027		0.92			1.20			0.66
Year Ended 07/31/08		1.00		0.03	^(b)		0.00		0.03		(0.03)		1.00		2.95			26,806		1.15			1.21			2.85
Year Ended 07/31/07		1.00		0.04			—		0.04		(0.04)		1.00		4.20			18,731		1.25			1.25			4.12
Year Ended 07/31/06		1.00		0.03			—		0.03		(0.03)		1.00		3.22			17,328		1.28			1.28			3.17

Class Y
Year Ended 02/28/11		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.03			14,412		0.29	^(c)		0.68	^(c)		0.03	^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			14,756		0.31	^(d)		0.70	^(d)		0.04	^(d)
Year Ended 07/31/09 ^(e)		1.00		0.01	^(b)		0.00		0.01		(0.01)		1.00		0.52			17,373		0.71	^(d)		0.74	^(d)		0.87	^(d)

Investor Class
Year Ended 02/28/11		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.03			204,974		0.29	^(c)		0.68	^(c)		0.03	^(c)
Seven Months Ended 02/28/10		1.00		0.00	^(b)		0.00		0.00		(0.00)		1.00		0.02			233,431		0.31	^(d)		0.70	^(d)		0.04	^(d)
Year Ended 07/31/09		1.00		0.01	^(b)		0.00		0.01		(0.01)		1.00		0.89			258,650		0.69			0.71			0.89
Year Ended 07/31/08		1.00		0.03	^(b)		0.00		0.03		(0.03)		1.00		3.41			296,623		0.71			0.71			3.29
Year Ended 07/31/07		1.00		0.05			—		0.05		(0.05)		1.00		4.72			270,679		0.75			0.75			4.62
Year ended 07/31/06		1.00		0.04			—		0.04		(0.04)		1.00		3.74			292,437		0.78			0.78			3.67


(a)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year, if applicable.
(b)		Calculated using average shares outstanding.
(c)		Ratios are based on average daily net assets (000’s) of $640,293, $82,998, $83,481, $44,749, $15,114 and $221,391 for Invesco Cash Reserve Shares, Class B, Class C, Class R, Class Y and Investor Class shares, respectively
(d)		Annualized.
(e)		Commencement date of October 3, 2008.

6 Invesco Money Market Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



INVESCO CASH RESERVE	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.17%		8	.51%		13	.04%		17	.75%		22	.66%		27	.78%		33	.11%		38	.66%		44	.44%		50	.46%
End of Year Balance	$	10,417	.00	$	10,851	.39	$	11,303	.89	$	11,775	.26	$	12,266	.29	$	12,777	.80	$	13,310	.63	$	13,865	.68	$	14,443	.88	$	15,046	.19
Estimated Annual Expenses	$	84	.73	$	88	.26	$	91	.94	$	95	.78	$	99	.77	$	103	.93	$	108	.27	$	112	.78	$	117	.48	$	122	.38


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.42%		6	.96%		10	.61%		14	.40%		18	.31%		22	.36%		26	.54%		30	.87%		36	.33%		42	.01%
End of Year Balance	$	10,342	.00	$	10,695	.70	$	11,061	.49	$	11,439	.79	$	11,831	.03	$	12,235	.65	$	12,654	.11	$	13,086	.88	$	13,632	.61	$	14,201	.09
Estimated Annual Expenses	$	160	.70	$	166	.20	$	171	.88	$	177	.76	$	183	.84	$	190	.13	$	196	.63	$	203	.35	$	110	.89	$	115	.51


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.42%		6	.96%		10	.61%		14	.40%		18	.31%		22	.36%		26	.54%		30	.87%		35	.34%		39	.97%
End of Year Balance	$	10,342	.00	$	10,695	.70	$	11,061	.49	$	11,439	.79	$	11,831	.03	$	12,235	.65	$	12,654	.11	$	13,086	.88	$	13,534	.46	$	13,997	.33
Estimated Annual Expenses	$	160	.70	$	166	.20	$	171	.88	$	177	.76	$	183	.84	$	190	.13	$	196	.63	$	203	.35	$	210	.31	$	217	.50


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%		1	.08%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.92%		7	.99%		12	.23%		16	.63%		21	.20%		25	.95%		30	.89%		36	.02%		41	.35%		46	.89%
End of Year Balance	$	10,392	.00	$	10,799	.37	$	11,222	.70	$	11,662	.63	$	12,119	.81	$	12,594	.90	$	13,088	.62	$	13,601	.70	$	14,134	.88	$	14,688	.97
Estimated Annual Expenses	$	110	.12	$	114	.43	$	118	.92	$	123	.58	$	128	.43	$	133	.46	$	138	.69	$	144	.13	$	149	.78	$	155	.65


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.32%		8	.83%		13	.53%		18	.43%		23	.55%		28	.89%		34	.45%		40	.26%		46	.32%		52	.64%
End of Year Balance	$	10,432	.00	$	10,882	.66	$	11,352	.79	$	11,843	.23	$	12,354	.86	$	12,888	.59	$	13,445	.38	$	14,026	.22	$	14,632	.15	$	15,264	.26
Estimated Annual Expenses	$	69	.47	$	72	.47	$	75	.60	$	78	.87	$	82	.27	$	85	.83	$	89	.54	$	93	.40	$	97	.44	$	101	.65


INVESTOR	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%		0	.68%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.32%		8	.83%		13	.53%		18	.43%		23	.55%		28	.89%		34	.45%		40	.26%		46	.32%		52	.64%
End of Year Balance	$	10,432	.00	$	10,882	.66	$	11,352	.79	$	11,843	.23	$	12,354	.86	$	12,888	.59	$	13,445	.38	$	14,026	.22	$	14,632	.15	$	15,264	.26
Estimated Annual Expenses	$	69	.47	$	72	.47	$	75	.60	$	78	.87	$	82	.27	$	85	.83	$	89	.54	$	93	.40	$	97	.44	$	101	.65


1		Your actual expenses may be higher or lower than those shown.
2		The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

7 Invesco Money Market Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Money Market Fund
SEC 1940 Act file number: 811-05686


invesco.com/us MKT-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital and liquidity.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Class:

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A5			B5			C5

Management Fees		0.39	%		0.39	%		0.39	%

Distribution and/or Service (12b-1) Fees		0.15			0.90			0.90

Other Expenses		0.29			0.29			0.29

Total Annual Fund Operating Expenses ¹		0.83			1.58			1.58


1		“Total Annual Fund Operating Expenses” for Class A5, B5 and C5 shares are based on estimated amounts for the current fiscal year.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A5	$	85	$	265	$	460	$	1,025

Class B5		661		799		1,060		1,677

Class C5		261		499		860		1,878

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A5	$	85	$	265	$	460	$	1,025

Class B5		161		499		860		1,677

Class C5		161		499		860		1,878

Principal Investment Strategies of the Fund

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

Principal Risks of Investing in the Fund

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, you may lose money by investing in the Fund. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:

Counterparty Risk . Many of the instruments that the Fund expects to hold may be subject to the risk that the other party to a contract will not fulfill its contractual obligations.

Liquidity Risk . The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

1 Invesco Money Market Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Performance Information

The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The Fund’s past performance is not necessarily an indication of its future performance. Class A5, B5 and C5 shares of the Fund have less than a full calendar year of performance; therefore, the returns shown are those of the Fund’s Invesco Cash Reserve Shares which are not offered in this prospectus. Although the Class A5, B5 and C5 shares are invested in the same portfolio of securities, Class A5, B5 and C5 shares’ returns would have been different as they have different expenses than the Fund’s Invesco Cash Reserve Shares. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

Invesco Cash Reserve Shares year-to-date (ended March 31, 2011): 0.01%

Best Quarter (ended March 31, 2001): 1.18%

Worst Quarter (ended March 31, 2010): 0.00%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A5 shares ¹ : Inception (6/7/2010)		0.03	%		2.14	%		1.84	%

Class B5 shares ² : Inception (6/7/2010)		-5.29			1.08			1.12

Class C5 shares ² : Inception (6/7/2010)		-1.29			1.46			1.12


1		Class A5 shares’ performance shown prior to the incpetion date is that of the Fund’s Invesco Cash Reserve Shares and includes the 12b-1 fees applicable to Invesco Cash Reserve Shares.
2		Class B5 and Class C5 shares’ performance shown prior to the incpetion date is that of the Fund’s Invesco Cash Reserve Shares restated to reflect the higher the 12b-1 fees applicable to Invesco Cash Reserve Shares.

Invesco Cash Reserve Shares’ seven day yield on December 31, 2010, was 0.04%. For the current seven day yield, call (800) 959-4246.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Purchase and Sale of Fund Shares

The minimum investments for Class A5, B5 and C5 shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

2 Invesco Money Market Fund

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

Risks

The principal risks of investing in the Fund are:

Industry Focus Risk . To the extent the Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, the Fund’s performance will depend on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Money Market Fund Risk . Although the Fund seeks to preserve the value of your investment at $1.00 per share, you may lose money by

3 Invesco Money Market Fund

investing in the Fund. The share price of money market funds can fall below the $1.00 share price. You should not rely on or expect the Fund’s adviser or its affiliates to enter into support agreements or take other actions to maintain the Fund’s $1.00 share price. The credit quality of the Fund’s holdings can change rapidly in certain markets, and the default of a single holding could have an adverse impact on the Fund’s share price. The Fund’s share price can also be negatively affected during periods of high redemption pressures and/or illiquid markets. Further regulation could impact the way the Fund is managed, possibly negatively impacting its return. Additionally, the Fund’s yield will vary as the short-term securities in its portfolio mature or are sold and the proceeds are reinvested in other securities.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser did not receive any compensation from Invesco Money Market Fund.

Other Information

Sales Charges

Purchases of Class B5 shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C5 shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist primarily of ordinary income.

Dividends

The Fund generally declares dividends from net investment income daily and pays them monthly.

In order to earn dividends on a purchase of Fund shares on the day of the purchase, the transfer agent must receive payment in federal funds before 12:00 noon Eastern Time on that day. Purchases made by payments in other forms, or payments in federal funds received after 12:00 noon Eastern Time but before the close of the customary trading session of the New York Stock Exchange, will begin to earn dividends on the next business day.

Capital Gains Distributions

The Fund generally distributes long-term and short-term capital gains (net of any available capital loss carryovers), if any, at least annually.

4 Invesco Money Market Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																				Ratio of			Ratio of
																				expenses			expenses
																				to average			to average net			Ratio of net
	Net asset									Dividends										net assets			assets without			investment
	value,		Net			Net gains		Total from		from net			Net asset					Net assets,		with fee waivers			fee waivers			income to
	beginning		investment			on securities		investment		investment			value, end		Total			end of period		and/or expenses			and/or expenses			average
	of period		income			(realized)		operations		income			of period		return ^(a)			(000s omitted)		absorbed			absorbed			net assets


Class A5
Nine Months Ended 02/28/11 ^(e)	$	1.00	$	0.00	^(b)	$	0.00	$	0.00	$	(0.00	)	$	1.00		0.03	%	$	292,104		0.28	% ^(c)(d)		0.82	% ^(c)(d)		0.04	% ^(c)(d)

Class B5
Nine Months Ended 02/28/11 ^(e)		1.00		0.00	^(b)		0.00		0.00		(0.00	)		1.00		0.03			42,803		0.28	^(c)(d)		1.57	^(c)(d)		0.04	^(c)(d)

Class C5
Nine Months Ended 02/28/11 ^(e)		1.00		0.00	^(b)		0.00		0.00		(0.00	)		1.00		0.03			24,785		0.28	^(c)(d)		1.57	^(c)(d)		0.04	^(c)(d)


(a)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year, if applicable.
(b)		Calculated using average shares outstanding.
(c)		Ratios are based on average daily net assets (000’s) of $276,370, $42,843 and $23,660 for Class A5, Class B5 and Class C5 shares, respectively
(d)		Annualized.
(e)		Commencement date of June 7, 2010.

5 Invesco Money Market Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;


	n	Hypotheticals both with and without any applicable initial sales charge applied; and


	n	There is no sales charge on reinvested dividends.



Class A5	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.17%		8	.51%		13	.04%		17	.75%		22	.66%		27	.78%		33	.11%		38	.66%		44	.44%		50	.46%
End of Year Balance	$	10,417	.00	$	10,851	.39	$	11,303	.89	$	11,775	.26	$	12,266	.29	$	12,777	.80	$	13,310	.63	$	13,865	.68	$	14,443	.88	$	15,046	.19
Estimated Annual Expenses	$	84	.73	$	88	.26	$	91	.94	$	95	.78	$	99	.77	$	103	.93	$	108	.27	$	112	.78	$	117	.48	$	122	.38


B5	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.42%		6	.96%		10	.61%		14	.40%		18	.31%		22	.36%		26	.54%		30	.87%		36	.33%		42	.01%
End of Year Balance	$	10,342	.00	$	10,695	.70	$	11,061	.49	$	11,439	.79	$	11,831	.03	$	12,235	.65	$	12,654	.11	$	13,086	.88	$	13,632	.61	$	14,201	.09
Estimated Annual Expenses	$	160	.70	$	166	.20	$	171	.88	$	177	.76	$	183	.84	$	190	.13	$	196	.63	$	203	.35	$	110	.89	$	115	.51


C5	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.42%		6	.96%		10	.61%		14	.40%		18	.31%		22	.36%		26	.54%		30	.87%		35	.34%		39	.97%
End of Year Balance	$	10,342	.00	$	10,695	.70	$	11,061	.49	$	11,439	.79	$	11,831	.03	$	12,235	.65	$	12,654	.11	$	13,086	.88	$	13,534	.46	$	13,997	.33
Estimated Annual Expenses	$	160	.70	$	166	.20	$	171	.88	$	177	.76	$	183	.84	$	190	.13	$	196	.63	$	203	.35	$	210	.31	$	217	.50


1 Your actual expenses may be higher or lower than those shown.

6 Invesco Money Market Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;


n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;


n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”


n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”


n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.


n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.


n	Invesco Money Market Fund, Investor Class shares.


n	Invesco Tax-Exempt Cash Fund, Investor Class shares.


n	Premier Portfolio, Investor Class shares.


n	Premier U.S. Government Money Portfolio, Investor Class shares.


n	Premier Tax-Exempt Portfolio, Investor Class shares.


n	All Funds, Class Y shares


n	Class A shares: 0.25%


n	Class B shares: 1.00%


n	Class C shares: 1.00%


n	Class P shares: 0.10%


n	Class R shares: 0.50%


n	Class S shares: 0.15%


n	Invesco Cash Reserve Shares: 0.15%


n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge

Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.

Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.


n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).


n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.


n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.


n	When reinvesting dividends and distributions.


n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.


n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.


n	If you redeem shares to pay account fees.


n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.


n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.


n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.


n	Invesco Cash Reserve Shares of Invesco Money Market Fund.


n	Investor Class shares of any Fund.


n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.


n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.


n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.


n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.


n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.


n	Shares acquired through systematic purchase plans.


n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and


n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares


n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares


n	Premier Portfolio, Investor Class shares


n	Premier Tax-Exempt Portfolio, Investor Class shares


n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.


n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.


n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.


n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.


n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.


n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and


n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.


n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.


n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.


n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.


n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.


n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.


n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.


n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.


n	Trading guidelines.


n	Redemption fees on trades in certain Funds.


n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.


n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.


n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.


n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.


n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”

By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.

You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.


n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.

If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.


n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds

You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.

A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.


n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.


n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.

A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.

There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.


n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Money Market Fund
SEC 1940 Act file number: 811-05686


invesco.com/us MKT-PRO-3

Fund Summary

Investment Objective(s)

The Fund’s investment objective is federal tax-exempt current income.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Class:

Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

4.75

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			Y			Investor

Management Fees		0.43	%		0.43	%		0.43	%		0.43	%		0.43	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			None			0.18

Other Expenses		0.15			0.15			0.15			0.15			0.15

Total Annual Fund Operating Expenses		0.83			1.58			1.58			0.58			0.76

Fee Waiver and/or Expense Reimbursement ¹		0.13			0.13			0.13			0.13			0.06

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement		0.70			1.45			1.45			0.45			0.70


1		Effective July 1, 2011, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed, through at least June 30, 2012 to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding certain items discussed in the SAI) of Class A, Class B, Class C, Class Y and Investor Class shares to 0.70%, 1.45%, 1.45%, 0.45% and 0.70%, respectively, of average daily net assets. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2012.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	543	$	715	$	901	$	1,440

Class B		648		786		1,048		1,666

Class C		248		486		848		1,867

Class Y		46		173		311		713

Investor Class		72		237		416		937

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	543	$	715	$	901	$	1,440

Class B		148		486		848		1,666

Class C		148		486		848		1,867

Class Y		46		173		311		713

Investor Class		72		237		416		937

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in municipal debt securities that (1) pay interest that is excluded from gross income for federal income tax purposes, and (2) do not produce income that will be considered to be an item of preference for purposes of the alternative minimum tax.

The principal type of municipal debt securities purchased by the Fund are municipal bonds, which include revenue bonds and general obligation bonds. Revenue bonds are repaid from revenues generated by the projects that they Fund and are generally not backed by the taxing power of the municipal issuer. General obligation bonds are repaid from a municipality’s general revenues and are generally backed by the full faith and credit of the municipal issuer.

Municipal bonds include debt obligations of varying maturities issued to obtain funds for various public purposes by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and instrumentalities. Certain types of industrial development bonds, such as private activity bonds, that meet certain standards, are treated as municipal bonds.

Although the portfolio managers consider the Fund to be a long maturity bond fund, the Fund has no restrictions on its maturity or duration.

At least 80% of the Fund’s total assets will normally be invested in municipal bonds that are determined to be of investment grade quality because they (i) are rated within the four highest credit quality ratings for long-term municipal obligations by Moody’s Investors Service, Inc. (Moody’s), Standard & Poor’s Ratings Services (S&P), or have received a comparable rating from any other nationally recognized statistical rating organization (NRSRO), or (ii) are determined by the portfolio managers to be of comparable quality to such rated securities. Principal and/or interest

1 Invesco Municipal Bond Fund

payments of certain municipal bonds are insured by a bond insurance company.

The portfolio managers generally take a buy and hold approach while focusing on municipal securities they believe have favorable prospects for current income exempt from Federal taxes. While the managers actively manage the funds capital gains and losses to minimize taxable income to shareholders there is a possibility of capital gains or losses.

In selecting securities for the fund’s portfolio, the portfolio managers generally favor high quality securities whose revenue stream is tied to specific projects and they believe make good economic and business sense. Prior to investing in a municipal security, the portfolio managers and/or fund analysts assess the creditworthiness of individual securities based upon financial characteristics and covenants of the issuers. Geographic considerations are evaluated to assess the potential for future tax and revenue streams for the municipality or taxing authority backing the bond.

Portfolio managers intend to purchase and hold municipal bonds to maturity to avoid selling-related capital gains. But there are times when the portfolio managers will sell securities based on factors such as: (i) degradation of credit quality; (ii) a conscious decision to shorten or lengthen the Fund’s duration; or (iii) limiting or reducing exposure to a particular sector or issuer.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market/style specific benchmark and a peer group benchmark with similar investment objectives of the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A shares year-to-date (ended March 31, 2011): 0.12%

Best Quarter (ended September 30, 2009): 6.55%

Worst Quarter (ended December 31, 2010): -3.98%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A shares: Inception (3/28/1977)
Return Before Taxes		-3.10	%		2.41	%		3.68	%
Return After Taxes on Distributions		-3.10			2.41			3.68
Return After Taxes on Distributions and Sale of Fund Shares		-0.47			2.69			3.80

Class B shares: Inception (9/1/1993)		-3.93			2.29			3.59

Class C shares: Inception (8/4/1997)		-0.05			2.64			3.41

Class Y shares ¹ : Inception (10/3/2008)		1.94			3.52			4.25

Investor Class shares ¹ : Inception (9/30/2003)		1.77			3.50			4.28

Barclays Capital Municipal Bond Index (reflects no deduction for fees, expenses or taxes)		2.38			4.09			4.83

Lipper General Municipal Debt Funds Index		1.66			3.05			4.11


1		Class Y shares’ and Investor Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Richard Berry	Portfolio Manager		1992

Thomas Byron	Portfolio Manager		2011

Robert Stryker	Portfolio Manager		2011

Stephen Turman	Portfolio Manager		1992

Robert Wimmel	Portfolio Manager		2011

2 Invesco Municipal Bond Fund

Purchase and Sale of Fund Shares

New or additional investments in Class B shares are no longer permitted. The minimum investments for Class A, C, Y and Investor shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions primarily are exempt from regular federal income tax. A portion of these distributions, however, may be subject to the federal alternative minimum tax and state and local taxes. The Fund may also make distributions that are taxable to you as ordinary income or capital gains.

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is federal tax-exempt current income. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

Although the portfolio managers consider the Fund to be a long maturity bond fund, the Fund has no restrictions on its maturity or duration.

Risks

The principal risks of investing in the Fund are:

3 Invesco Municipal Bond Fund

of this sensitivity is called duration. The longer the duration of a particular bond, the greater its price sensitivity is to interest rates. Similarly, a longer duration portfolio of securities has greater price sensitivity. Falling interest rates may also prompt some issuers to refinance existing debt, which could affect the Fund’s performance.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.17% of Invesco Municipal Bond Fund’s average daily net assets after fee waiver and/or expense reimbursement.

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Richard Berry, Portfolio Manager, who has been responsible for the Fund since 1992 and has been associated with Invesco and/or its affiliates since 1987.


n	Thomas Byron, Portfolio Manager, who has been responsible for the Fund since 2011 and has been associated with Invesco and/or its affiliates since 2010. From 1981 to 2010, Mr. Byron was associated with Van Kampen Asset Management and/or its affiliates in an investment management capacity.


n	Robert Stryker, Portfolio Manager, who has been responsible for the Fund since 2011 and has been associated with Invesco and/or its affiliates since 2010. From 1994 to 2010, Mr. Stryker was associated with Van Kampen Asset Management and/or its affiliates in an investment management capacity.


n	Stephen Turman, Portfolio Manager, who has been responsible for the Fund since 1992 and has been associated with Invesco and/or its affiliates since 1985.


n	Robert Wimmel, Portfolio Manager, who has been responsible for the Fund since 2011 and has been associated with Invesco and/or its affiliates since 2010. From 1996 to 2010, Mr. Wimmel was associated with Van Kampen Asset Management and/or its affiliates in an investment management capacity.

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Municipal Bond Fund are subject to the maximum 4.75% initial sales charge as listed under the heading “Category II Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I

4 Invesco Municipal Bond Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																					Ratio of			Ratio of
																					expenses			expenses
						Net gains															to average			to average net			Ratio of net
	Net asset					(losses) on					Dividends										net assets			assets without			investment
	value,		Net			securities (both			Total from		from net			Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment			realized and			investment		investment			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income			unrealized)			operations		income			of period		return ^(a)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(b)


Class A
Year ended 02/28/11	$	7.93	$	0.36	^(c)	$	(0.26	)	$	0.10	$	(0.36	)	$	7.67		1.20	%	$	262,081		0.57	% ^(d)		0.83	% ^(d)		4.58	% ^(d)		16	%
Seven months ended 02/28/10		7.70		0.21	^(c)		0.23			0.44		(0.21	)		7.93		5.73			407,725		0.57	^(e)		0.83	^(e)		4.55	^(e)		12
Year ended 07/31/09		7.78		0.35	^(c)		(0.09	)		0.26		(0.34	)		7.70		3.55			373,124		0.74			0.86			4.63			31
Year ended 07/31/08		7.94		0.34	^(c)		(0.17	)		0.17		(0.33	)		7.78		2.23			386,383		0.84			0.84			4.25			29
Year ended 07/31/07		7.99		0.34			(0.05	)		0.29		(0.34	)		7.94		3.62			371,585		0.84			0.84			4.19			23
Year ended 07/31/06		8.16		0.35			(0.16	)		0.19		(0.36	)		7.99		2.34			324,531		0.86			0.86			4.36			19

Class B
Year ended 02/28/11		7.94		0.30	^(c)		(0.26	)		0.04		(0.30	)		7.68		0.44			8,360		1.32	^(d)		1.58	^(d)		3.83	^(d)		16
Seven months ended 02/28/10		7.71		0.17	^(c)		0.23			0.40		(0.17	)		7.94		5.27			13,596		1.32	^(e)		1.58	^(e)		3.80	^(e)		12
Year ended 07/31/09		7.79		0.29	^(c)		(0.09	)		0.20		(0.28	)		7.71		2.78			16,046		1.49			1.61			3.88			31
Year ended 07/31/08		7.95		0.28	^(c)		(0.16	)		0.12		(0.28	)		7.79		1.46			20,797		1.59			1.59			3.50			29
Year ended 07/31/07		8.00		0.28			(0.05	)		0.23		(0.28	)		7.95		2.85			29,224		1.59			1.59			3.44			23
Year ended 07/31/06		8.17		0.29			(0.16	)		0.13		(0.30	)		8.00		1.58			40,352		1.61			1.61			3.61			19

Class C
Year ended 02/28/11		7.92		0.30	^(c)		(0.26	)		0.04		(0.30	)		7.66		0.43			42,560		1.32	^(d)		1.58	^(d)		3.83	^(d)		16
Seven months ended 02/28/10		7.70		0.17	^(c)		0.22			0.39		(0.17	)		7.92		5.14			45,088		1.32	^(e)		1.58	^(e)		3.80	^(e)		12
Year ended 07/31/09		7.77		0.29	^(c)		(0.08	)		0.21		(0.28	)		7.70		2.91			36,085		1.49			1.61			3.88			31
Year ended 07/31/08		7.94		0.28	^(c)		(0.18	)		0.10		(0.27	)		7.77		1.33			20,283		1.59			1.59			3.50			29
Year ended 07/31/07		7.98		0.28			(0.04	)		0.24		(0.28	)		7.94		2.98			14,853		1.59			1.59			3.44			23
Year ended 07/31/06		8.16		0.29			(0.17	)		0.12		(0.30	)		7.98		1.45			17,887		1.61			1.61			3.61			19

Class Y
Year ended 02/28/11		7.93		0.38	^(c)		(0.26	)		0.12		(0.38	)		7.67		1.45			26,104		0.32	^(d)		0.58	^(d)		4.83	^(d)		16
Seven months ended 02/28/10		7.70		0.22	^(c)		0.23			0.45		(0.22	)		7.93		5.88			7,204		0.32	^(e)		0.58	^(e)		4.80	^(e)		12
Year ended 07/31/09 ^(f)		7.46		0.30	^(c)		0.24			0.54		(0.30	)		7.70		7.34			5,855		0.46	^(e)		0.61	^(e)		4.91	^(e)		31

Investor Class
Year ended 02/28/11		7.93		0.36	^(c)		(0.26	)		0.10		(0.36	)		7.67		1.28			123,542		0.50	^(d)		0.76	^(d)		4.65	^(d)		16
Seven months ended 02/28/10		7.71		0.21	^(c)		0.22			0.43		(0.21	)		7.93		5.65			130,726		0.52	^(e)		0.78	^(e)		4.60	^(e)		12
Year ended 07/31/09		7.79		0.36	^(c)		(0.09	)		0.27		(0.35	)		7.71		3.67			126,245		0.64			0.76			4.73			31
Year ended 07/31/08		7.95		0.35	^(c)		(0.17	)		0.18		(0.34	)		7.79		2.35			130,356		0.72			0.72			4.37			29
Year ended 07/31/07		7.99		0.35			(0.04	)		0.31		(0.35	)		7.95		3.88			139,164		0.71			0.71			4.32			23
Year ended 07/31/06		8.17		0.36			(0.17	)		0.19		(0.37	)		7.99		2.35			147,982		0.72			0.72			4.50			19


(a)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(b)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(c)		Calculated using average shares outstanding.
(d)		Ratios are based on average daily net assets (000’s omitted) of $336,044, $11,449, $47,937, $21,606 and $129,946 for Class A, Class B, Class C, Class Y and Investor Class shares, respectively.
(e)		Annualized.
(f)		Commencement date of October 3, 2008.

6 Invesco Municipal Bond Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	The Fund’s current annual expense ratio includes any applicable contractual fee waiver or expense reimbursement for the period committed;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.70%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(0	.65)%		3	.49%		7	.80%		12	.30%		16	.98%		21	.86%		26	.94%		32	.24%		37	.75%		43	.49%
End of Year Balance	$	9,934	.58	$	10,348	.85	$	10,780	.39	$	11,229	.94	$	11,698	.22	$	12,186	.04	$	12,694	.20	$	13,223	.55	$	13,774	.97	$	14,349	.38
Estimated Annual Expenses	$	543	.11	$	84	.18	$	87	.69	$	91	.34	$	95	.15	$	99	.12	$	103	.25	$	107	.56	$	112	.04	$	116	.72


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.70%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.30%		8	.65%		13	.18%		17	.90%		22	.82%		27	.94%		33	.27%		38	.83%		44	.62%		50	.65%
End of Year Balance	$	10,430	.00	$	10,864	.93	$	11,318	.00	$	11,789	.96	$	12,281	.60	$	12,793	.74	$	13,327	.24	$	13,882	.99	$	14,461	.91	$	15,064	.97
Estimated Annual Expenses	$	71	.51	$	88	.37	$	92	.06	$	95	.90	$	99	.90	$	104	.06	$	108	.40	$	112	.92	$	117	.63	$	122	.54


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.45%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		0	.83%		0	.83%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.55%		7	.09%		10	.75%		14	.54%		18	.46%		22	.51%		26	.70%		31	.03%		36	.50%		42	.19%
End of Year Balance	$	10,355	.00	$	10,709	.14	$	11,075	.39	$	11,454	.17	$	11,845	.90	$	12,251	.03	$	12,670	.02	$	13,103	.33	$	13,649	.74	$	14,218	.94
Estimated Annual Expenses	$	147	.57	$	166	.41	$	172	.10	$	177	.98	$	184	.07	$	190	.37	$	196	.88	$	203	.61	$	111	.03	$	115	.66


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.45%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%		1	.58%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.55%		7	.09%		10	.75%		14	.54%		18	.46%		22	.51%		26	.70%		31	.03%		35	.51%		40	.15%
End of Year Balance	$	10,355	.00	$	10,709	.14	$	11,075	.39	$	11,454	.17	$	11,845	.90	$	12,251	.03	$	12,670	.02	$	13,103	.33	$	13,551	.47	$	14,014	.93
Estimated Annual Expenses	$	147	.57	$	166	.41	$	172	.10	$	177	.98	$	184	.07	$	190	.37	$	196	.88	$	203	.61	$	210	.57	$	217	.77


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.45%		0	.58%		0	.58%		0	.58%		0	.58%		0	.58%		0	.58%		0	.58%		0	.58%		0	.58%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.55%		9	.17%		14	.00%		19	.04%		24	.30%		29	.79%		35	.53%		41	.52%		47	.77%		54	.30%
End of Year Balance	$	10,455	.00	$	10,917	.11	$	11,399	.65	$	11,903	.51	$	12,429	.65	$	12,979	.04	$	13,552	.71	$	14,151	.74	$	14,777	.25	$	15,430	.40
Estimated Annual Expenses	$	46	.02	$	61	.98	$	64	.72	$	67	.58	$	70	.57	$	73	.69	$	76	.94	$	80	.34	$	83	.89	$	87	.60


INVESTOR	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.70%		0	.76%		0	.76%		0	.76%		0	.76%		0	.76%		0	.76%		0	.76%		0	.76%		0	.76%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.30%		8	.72%		13	.33%		18	.14%		23	.15%		28	.37%		33	.81%		39	.48%		45	.40%		51	.56%
End of Year Balance	$	10,430	.00	$	10,872	.23	$	11,333	.21	$	11,813	.74	$	12,314	.65	$	12,836	.79	$	13,381	.07	$	13,948	.42	$	14,539	.84	$	15,156	.33
Estimated Annual Expenses	$	71	.51	$	80	.95	$	84	.38	$	87	.96	$	91	.69	$	95	.58	$	99	.63	$	103	.85	$	108	.26	$	112	.85


1		Your actual expenses may be higher or lower than those shown.
2		The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

7 Invesco Municipal Bond Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Municipal Bond Fund
SEC 1940 Act file number: 811-05686


invesco.com/us MBD-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return through growth of capital and current income.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Class:

Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

5.50

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			R			Y			Investor

Management Fees		0.73	%		0.73	%		0.73	%		0.73	%		0.73	%		0.73	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			0.50			None			0.25

Other Expenses		0.33			0.33			0.33			0.33			0.33			0.33

Total Annual Fund Operating Expenses		1.31			2.06			2.06			1.56			1.06			1.31

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	676	$	942	$	1,229	$	2,042

Class B		709		946		1,308		2,197

Class C		309		646		1,108		2,390

Class R		159		493		850		1,856

Class Y		108		337		585		1,294

Investor Class		133		415		718		1,579

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	676	$	942	$	1,229	$	2,042

Class B		209		646		1,108		2,197

Class C		209		646		1,108		2,390

Class R		159		493		850		1,856

Class Y		108		337		585		1,294

Investor Class		133		415		718		1,579

Principal Investment Strategies of the Fund

The Fund invests, under normal circumstances, at least 80% of net assets (plus borrowings for investment purposes) in securities of real estate and real estate-related issuers, including real estate investment trusts (REITs). The Fund invests primarily in equity securities.

In complying with the 80% investment requirement, the Fund may include synthetic instruments that have economic characteristics similar to the Fund’s direct investments that are counted toward the 80% investment requirement. These derivatives and other instruments may have the effect of leveraging the Fund’s portfolio. The Fund may also invest in debt securities including U.S. Treasury and agency bonds and notes.

The Fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate. These issuers include (i) REITs or other real estate operating issuers that (a) own property, (b) make or invest in short term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) issuers whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund may invest in equity and debt securities of issuers unrelated to the real estate industry that the portfolio managers believe are undervalued and have potential for growth of capital. The Fund limits its investments in debt securities unrelated to the real estate industry to those that are investment-grade or deemed by the Fund’s portfolio managers to be of comparable quality.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

1 Invesco Real Estate Fund

The Fund may engage in short sales of securities. A short sale occurs when the Fund sells a security, but does not deliver a security it owns when the sale settles. Instead, it borrows that security for delivery when the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short, if as a result of such short sale, the aggregate market value of all securities sold short exceeds 15% of the Fund’s net assets.

When constructing the portfolio, the portfolio managers use a fundamentals driven investment process, including an evaluation of factors such as real property market cycle analysis, real property evaluation and management and structure review to identify securities with characteristics including (i) quality underlying properties, (ii) solid management teams with the ability to effectively manage capital structure decisions, and (iii) attractive valuations relative to peer investment alternatives.

The portfolio managers and investment team focus on equity REITs and real estate operating issuers. Some of the fundamental factors that are evaluated in screening potential investments for the Fund include: forecasted occupancy and rental rates of the various property markets in which a firm may operate, property locations, physical attributes and cash flow generating capacity of an issuer’s properties and calculating relative return potential, asset quality, management depth and skill, insider ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios. The issuers that are believed to have the most attractive fundamental attributes are then screened according to pricing factors that allow the management team to assess security valuations relative to one another and relative to the investment teams’ assessment of underlying asset value. The portfolio managers also consider the relative liquidity of each security in the construction of the Fund.

The portfolio managers seek to construct a portfolio with risk characteristics similar to the FTSE NAREIT All Equity REITs Index (the benchmark index). The Fund seeks to limit risk through various controls, such as diversifying the portfolio property types and geographic areas as well as by limiting the size of any one holding. Various factors may lead to overweighting or underweighting of particular property types and/or geographic areas from time to time.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Performance Information

2 Invesco Real Estate Fund

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A shares year-to-date (ended March 31, 2011): 5.64%

Best Quarter (ended September 30, 2009): 31.97%

Worst Quarter (ended December 31, 2008): -35.62%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A shares: Inception (12/31/1996)
Return Before Taxes		16.06	%		2.09	%		11.15	%
Return After Taxes on Distributions		15.37			0.29			9.50
Return After Taxes on Distributions and Sale of Fund Shares		10.41			1.22			9.21

Class B shares: Inception (3/3/1998)		16.87			2.20			11.15

Class C shares: Inception (5/1/1995)		20.81			2.48			10.98

Class R shares ¹ : Inception (4/30/2004)		22.49			2.99			11.55

Class Y shares ² : Inception (10/3/2008)		23.03			3.35			11.83

Investor Class shares ² : Inception (9/30/2003)		22.82			3.26			11.80

S&P 500 ^® Index (reflects no deduction for fees, expenses or taxes)		15.08			2.29			1.42

FTSE NAREIT All Equity REITs Index (reflects no deduction for fees, expenses or taxes)		27.95			3.03			10.76

Lipper Real Estate Funds Index		23.19			1.83			9.78


1		Class R shares’ performance shown prior to the inception date is that of Class A shares restated to reflect the higher 12b-1 fees applicable to Class R shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.
2		Class Y shares’ and Investor Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Joe Rodriguez, Jr.	Portfolio Manager (lead)		1995

Mark Blackburn	Portfolio Manager		2000

Paul Curbo	Portfolio Manager		2007

Darin Turner	Portfolio Manager		2009

Ping-Ying Wang	Portfolio Manager		2006

Purchase and Sale of Fund Shares


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund’s investment objective is total return through growth of capital and current income. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

3 Invesco Real Estate Fund

whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

The Fund may engage in short sales of securities. A short sale occurs when the Fund sells a security, but does not deliver a security it owns when the sale settles. Instead, it borrows that security for delivery when the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short, if as a result of such short sale, the aggregate market value of all securities sold short exceeds 15% of the Fund’s net assets.

The portfolio managers and investment team focus on equity REITs and real estate operating issuers. Equity REITs generally invest a majority of their assets in income-producing real estate properties in order to generate cash flow from rental income and a gradual asset appreciation. Each potential investment is analyzed using fundamental research and pricing components to identify attractively priced securities that appear to have relatively favorable long-term prospects. Some of the fundamental factors that are evaluated in screening potential investments for the Fund include: forecasted occupancy and rental rates of the various property markets in which a firm may operate, property locations, physical attributes and cash flow generating capacity of an issuer’s properties and calculating relative return potential, asset quality, management depth and skill, insider ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios. The market and issuer research available to the investment team helps the portfolio managers in their efforts to identify REITs and real estate issuers operating in the most attractive markets that represent quality properties, solid management teams with the ability to effectively manage capital structure decisions. The issuers that are believed to have the most attractive fundamental attributes are then screened according to pricing factors that allow the management team to assess security valuations relative to one another and relative to the investment teams’ assessment of underlying asset value. The fundamental research and pricing factors are combined to identify attractively priced securities of issuers that appear to have relatively favorable long-term prospects. The portfolio managers also consider the relative liquidity of each security in the construction of the Fund.

The Fund uses the benchmark index as a guide in structuring the portfolio, but the Fund is not an index fund.

Risks

The principal risks of investing in the Fund are:

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

4 Invesco Real Estate Fund

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.73% of Invesco Real Estate Fund’s average daily net assets.

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Joe Rodriguez, Jr., (lead manager), Portfolio Manager, who has been responsible for the Fund since 1995 and has been associated with Invesco and/or its affiliates since 1990.

n	Mark Blackburn, Portfolio Manager, who has been responsible for the Fund since 2000 and has been associated with Invesco and/or its affiliates since 1998.

n	Paul Curbo, Portfolio Manager, who has been responsible for the Fund since 2007 and has been associated with Invesco and/or its affiliates since 1998.


n	Darin Turner, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 2005.


n	Ping-Ying Wang, Portfolio Manager, who has been responsible for the Fund since 2006 and has been associated with Invesco and/or its affiliates since 1998.

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Real Estate Fund are subject to the maximum 5.50% initial sales charge as listed under the heading “Category I Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist of ordinary income, capital gains, or some combination of both.

Dividends

The Fund generally declares and pays dividends from net investment income, if any, quarterly.

Capital Gains Distributions

5 Invesco Real Estate Fund

the Fund’s normal investment activities and cash flows. During a time of economic downturn, a fund may experience capital losses and unrealized depreciation in value of investments, the effect of which may be to reduce or eliminate capital gains distributions for a period of time. Even though a fund may experience a current year loss, it may nonetheless distribute prior year capital gains.

Limited Fund Offering

Effective as of the close of business on April 29, 2011, the Fund closed to new investors. Investors should note that the Fund reserves the right to refuse any order that might disrupt the efficient management of the Fund.

Investors who are invested in the Fund on or prior to April 29, 2011 may continue to make additional purchases in their accounts.

Any retirement plan may continue to make additional purchases of Fund shares and may add new accounts at the plan level that may purchase Fund shares if the retirement plan had invested in the Fund as of April 29, 2011. Any brokerage firm wrap program may continue to make additional purchases of Fund shares and may add new accounts at the program level that may purchase Fund shares if the brokerage firm wrap program had invested in the Fund as of April 29, 2011. All retirement plans and brokerage firm wrap programs that have approved the Fund as an investment option as of April 29, 2011, but that had not opened an account in the Fund as of that date, may open an account and make purchases of Fund shares, provided that the retirement plan or the brokerage firm wrap program opens its initial account with the Fund prior to October 31, 2011.

The Fund may resume sale of shares to new investors on a future date if the Adviser determines it is appropriate.

Benchmark Descriptions

FTSE NAREIT All Equity REITs Index is an unmanaged index considered representative of U.S. REITS.

Lipper Real Estate Funds Index is an unmanaged index considered representative of real estate funds tracked by Lipper.

S&P 500 ^® Index is an unmanaged index considered representative of the U.S. stock market.

6 Invesco Real Estate Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																											Ratio of			Ratio of
																											expenses			expenses
					Net gains																						to average			to average net			Ratio of net
	Net asset				(losses) on						Dividends			Distributions													net assets			assets without			investment
	value,		Net		securities (both			Total from			from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment		realized and			investment			investment			realized			Total			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income ^(a)		unrealized)			operations			income			gains			Distributions			of period		return ^(b)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(c)


Class A
Year ended 02/28/11	$	17.60	$	0.17	$	5.60		$	5.77		$	(0.34	)	$	—		$	(0.34	)	$	23.03		33.11	%	$	1,109,689		1.30	% ^(d)		1.30	% ^(d)		0.88	% ^(d)		90	%
Seven months ended 02/28/10		13.83		0.22		3.73			3.95			(0.18	)		—			(0.18	)		17.60		28.59			772,496		1.32	^(e)		1.33	^(e)		2.33	^(e)		32
Year ended 07/31/09		22.47		0.43		(8.55	)		(8.12	)		(0.43	)		(0.09	)		(0.52	)		13.83		(35.99	)		562,632		1.43			1.43			3.03			74
Year ended 07/31/08		29.49		0.43		(1.60	)		(1.17	)		(0.57	)		(5.28	)		(5.85	)		22.47		(4.31	)		794,200		1.30			1.30			1.68			47
Year ended 07/31/07		32.65		0.38		0.76			1.14			(0.50	)		(3.80	)		(4.30	)		29.49		1.98			994,153		1.26			1.42			1.09			51
Year ended 07/31/06		29.14		0.30		4.94			5.24			(0.42	)		(1.31	)		(1.73	)		32.65		18.96			1,093,623		1.29			1.46			1.00			45

Class B
Year ended 02/28/11		17.66		0.03		5.62			5.65			(0.20	)		—			(0.20	)		23.11		32.17			42,219		2.05	^(d)		2.05	^(d)		0.13	^(d)		90
Seven months ended 02/28/10		13.89		0.15		3.74			3.89			(0.12	)		—			(0.12	)		17.66		28.02			44,355		2.07	^(e)		2.08	^(e)		1.58	^(e)		32
Year ended 07/31/09		22.58		0.34		(8.62	)		(8.28	)		(0.32	)		(0.09	)		(0.41	)		13.89		(36.50	)		39,289		2.18			2.18			2.28			74
Year ended 07/31/08		29.59		0.24		(1.60	)		(1.36	)		(0.37	)		(5.28	)		(5.65	)		22.58		(5.00	)		89,297		2.05			2.05			0.93			47
Year ended 07/31/07		32.75		0.12		0.75			0.87			(0.23	)		(3.80	)		(4.03	)		29.59		1.19			160,917		2.01			2.17			0.34			51
Year ended 07/31/06		29.23		0.07		4.96			5.03			(0.20	)		(1.31	)		(1.51	)		32.75		18.06			227,459		2.04			2.21			0.25			45

Class C
Year ended 02/28/11		17.61		0.03		5.60			5.63			(0.20	)		—			(0.20	)		23.04		32.14			126,377		2.05	^(d)		2.05	^(d)		0.13	^(d)		90
Seven month ended 02/28/10		13.85		0.15		3.73			3.88			(0.12	)		—			(0.12	)		17.61		28.02			83,099		2.07	^(e)		2.08	^(e)		1.58	^(e)		32
Year ended 07/31/09		22.51		0.33		(8.58	)		(8.25	)		(0.32	)		(0.09	)		(0.41	)		13.85		(36.48	)		57,799		2.18			2.18			2.28			74
Year ended 07/31/08		29.52		0.24		(1.60	)		(1.36	)		(0.37	)		(5.28	)		(5.65	)		22.51		(5.02	)		99,078		2.05			2.05			0.93			47
Year ended 07/31/07		32.68		0.12		0.75			0.87			(0.23	)		(3.80	)		(4.03	)		29.52		1.20			150,854		2.01			2.17			0.34			51
Year ended 07/31/06		29.17		0.07		4.95			5.02			(0.20	)		(1.31	)		(1.51	)		32.68		18.07			197,340		2.04			2.21			0.25			45

Class R
Year ended 02/28/11		17.61		0.13		5.60			5.73			(0.30	)		—			(0.30	)		23.04		32.77			137,923		1.55	^(d)		1.55	^(d)		0.63	^(d)		90
Seven months ended 02/28/10		13.84		0.20		3.73			3.93			(0.16	)		—			(0.16	)		17.61		28.42			76,564		1.57	^(e)		1.58	^(e)		2.08	^(e)		32
Year ended 07/31/09		22.49		0.39		(8.56	)		(8.17	)		(0.39	)		(0.09	)		(0.48	)		13.84		(36.16	)		47,582		1.68			1.68			2.78			74
Year ended 07/31/08		29.50		0.36		(1.58	)		(1.22	)		(0.51	)		(5.28	)		(5.79	)		22.49		(4.52	)		48,460		1.55			1.55			1.43			47
Year ended 07/31/07		32.66		0.29		0.76			1.05			(0.41	)		(3.80	)		(4.21	)		29.50		1.71			35,660		1.51			1.67			0.84			51
Year ended 07/31/06		29.15		0.22		4.94			5.16			(0.34	)		(1.31	)		(1.65	)		32.66		18.66			15,850		1.54			1.71			0.75			45

Class Y
Year ended 02/28/11		17.60		0.23		5.60			5.83			(0.39	)		—			(0.39	)		23.04		33.49			73,598		1.05	^(d)		1.05	^(d)		1.13	^(d)		90
Seven months ended 02/28/10		13.83		0.25		3.72			3.97			(0.20	)		—			(0.20	)		17.60		28.74			27,405		1.07	^(e)		1.08	^(e)		2.58	^(e)		32
Year ended 07/31/09 ^(f)		19.74		0.33		(5.83	)		(5.50	)		(0.32	)		(0.09	)		(0.41	)		13.83		(27.39	)		6,279		1.25	^(e)		1.25	^(e)		3.21	^(e)		74

Investor Class
Year ended 02/28/11		17.58		0.17		5.60			5.77			(0.34	)		—			(0.34	)		23.01		33.15			62,354		1.30	^(d)		1.30	^(d)		0.88	^(d)		90
Seven months ended 02/28/10		13.82		0.22		3.72			3.94			(0.18	)		—			(0.18	)		17.58		28.54			38,150		1.32	^(e)		1.33	^(e)		2.33	^(e)		32
Year ended 07/31/09		22.45		0.43		(8.54	)		(8.11	)		(0.43	)		(0.09	)		(0.52	)		13.82		(35.98	)		27,576		1.43			1.43			3.03			74
Year ended 07/31/08		29.46		0.43		(1.59	)		(1.16	)		(0.57	)		(5.28	)		(5.85	)		22.45		(4.28	)		33,708		1.30			1.30			1.68			47
Year ended 07/31/07		32.63		0.38		0.75			1.13			(0.50	)		(3.80	)		(4.30	)		29.46		1.95			40,614		1.26			1.42			1.09			51
Year ended 07/31/06		29.12		0.30		4.94			5.24			(0.42	)		(1.31	)		(1.73	)		32.63		18.99			43,684		1.27			1.44			1.02			45


(a)		Calculated using average shares outstanding.
(b)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(c)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(d)		Ratios are based on average daily net assets (000’s) of $939,395, $43,984, $103,893, $106,104, $50,112 and $52,425 Class A, Class B, Class C, Class R, Class Y and Investor Class shares, respectively.
(e)		Annualized.
(f)		Commencement date of October 3, 2008.

7 Invesco Real Estate Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(2	.01)%		1	.60%		5	.35%		9	.24%		13	.27%		17	.45%		21	.78%		26	.28%		30	.94%		35	.77%
End of Year Balance	$	9,798	.71	$	10,160	.28	$	10,535	.19	$	10,923	.94	$	11,327	.03	$	11,745	.00	$	12,178	.39	$	12,627	.77	$	13,093	.74	$	13,576	.90
Estimated Annual Expenses	$	676	.08	$	130	.73	$	135	.56	$	140	.56	$	145	.74	$	151	.12	$	156	.70	$	162	.48	$	168	.48	$	174	.69


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%		1	.31%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.69%		7	.52%		11	.48%		15	.60%		19	.86%		24	.29%		28	.87%		33	.63%		38	.56%		43	.67%
End of Year Balance	$	10,369	.00	$	10,751	.62	$	11,148	.35	$	11,559	.72	$	11,986	.28	$	12,428	.57	$	12,887	.19	$	13,362	.72	$	13,855	.81	$	14,367	.09
Estimated Annual Expenses	$	133	.42	$	138	.34	$	143	.44	$	148	.74	$	154	.23	$	159	.92	$	165	.82	$	171	.94	$	178	.28	$	184	.86


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		1	.31%		1	.31%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		2	.94%		5	.97%		9	.08%		12	.29%		15	.59%		18	.99%		22	.49%		26	.09%		30	.74%		35	.56%
End of Year Balance	$	10,294	.00	$	10,596	.64	$	10,908	.18	$	11,228	.89	$	11,559	.01	$	11,898	.85	$	12,248	.68	$	12,608	.79	$	13,074	.05	$	13,556	.48
Estimated Annual Expenses	$	209	.03	$	215	.17	$	221	.50	$	228	.01	$	234	.72	$	241	.62	$	248	.72	$	256	.03	$	168	.22	$	174	.43


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%		2	.06%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		2	.94%		5	.97%		9	.08%		12	.29%		15	.59%		18	.99%		22	.49%		26	.09%		29	.79%		33	.61%
End of Year Balance	$	10,294	.00	$	10,596	.64	$	10,908	.18	$	11,228	.89	$	11,559	.01	$	11,898	.85	$	12,248	.68	$	12,608	.79	$	12,979	.49	$	13,361	.08
Estimated Annual Expenses	$	209	.03	$	215	.17	$	221	.50	$	228	.01	$	234	.72	$	241	.62	$	248	.72	$	256	.03	$	263	.56	$	271	.31


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%		1	.56%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.44%		7	.00%		10	.68%		14	.49%		18	.42%		22	.50%		26	.71%		31	.07%		35	.58%		40	.24%
End of Year Balance	$	10,344	.00	$	10,699	.83	$	11,067	.91	$	11,448	.64	$	11,842	.48	$	12,249	.86	$	12,671	.25	$	13,107	.14	$	13,558	.03	$	14,024	.43
Estimated Annual Expenses	$	158	.68	$	164	.14	$	169	.79	$	175	.63	$	181	.67	$	187	.92	$	194	.38	$	201	.07	$	207	.99	$	215	.14


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%		1	.06%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.94%		8	.04%		12	.29%		16	.72%		21	.31%		26	.09%		31	.06%		36	.23%		41	.59%		47	.17%
End of Year Balance	$	10,394	.00	$	10,803	.52	$	11,229	.18	$	11,671	.61	$	12,131	.47	$	12,609	.45	$	13,106	.27	$	13,622	.65	$	14,159	.39	$	14,717	.27
Estimated Annual Expenses	$	108	.09	$	112	.35	$	116	.77	$	121	.37	$	126	.16	$	131	.13	$	136	.29	$	141	.66	$	147	.24	$	153	.05

1 Your actual expenses may be higher or lower than those shown. 2 The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

8 Invesco Real Estate Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Real Estate Fund
SEC 1940 Act file number: 811-05686


invesco.com/us REA-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Class:

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

2.50

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			C			R			Y

Management Fees		0.35	%		0.35	%		0.35	%		0.35	%

Distribution and/or Service (12b-1) Fees ^1,2		0.15			0.65			0.50			None

Other Expenses		0.27			0.27			0.27			0.27

Total Annual Fund Operating Expenses ³		0.77			1.27			1.12			0.62

Fee Waiver and/or Expense Reimbursement ⁴		0.21			0.36			0.21			0.21

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement		0.56			0.91			0.91			0.41


1		Effective June 6, 2011, Invesco Distributors, Inc. (Invesco Distributors) has contractually agreed, through at least June 30, 2013, to waive 12b-1 fees for Class C shares to the extent necessary to limit 12b-1 fees to 0.50% of average daily net assets. Unless the Board of Trustees and Invesco Distributors mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2013.
2		Effective June 6, 2011, the Board of Trustees has approved a permanent reduction of the Rule 12b-1 fees applicable to Class A shares to 0.15% and Class C shares to 0.65%. Distribution and/or Service (12b-1) Fees have been restated to reflect this reduction.
3		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.
4		Effective June 6, 2011, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed, through at least June 30, 2013 to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding certain items discussed in the SAI) of Class A, Class C (after Rule 12b-1 fee limit), Class R and Class Y shares to 0.56%, 0.91%, 0.91% and 0.41%, respectively, of average daily net assets. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2013.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	306	$	448	$	626	$	1,141

Class C		93		330		626		1,469

Class R		93		313		575		1,324

Class Y		42		155		303		733

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of net assets (plus borrowings for investment purposes) in fixed-income securities.

The principal types of fixed income securities purchased by the Fund are investment grade quality: corporate bonds of varying maturities, U.S. Treasury and agency bonds and notes, mortgage-backed and asset-backed securities and preferred stocks. The Fund considers securities to be of investment grade quality if they are rated within the four highest ratings for long-term debt obligations by Moody’s Investors Service, Inc. (Moody’s), Standard & Poor’s Ratings Services (S&P) or any other nationally recognized statistical rating organization (NRSRO), or the Fund’s portfolio managers deem the securities to be of comparable credit quality. The Fund may also invest in derivative instruments such as futures contracts and swap agreements (including credit default swaps). The Fund engages in dollar roll transactions to enhance the Fund’s return on cash.

The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration (the Fund’s price sensitivity to changes in interest rates) of less than three years.

The Fund may invest up to 15% of its total assets in foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure.

The Fund utilizes active duration and yield curve positioning for risk management and for generating alpha versus its benchmark. Duration is a measure of volatility expressed in years and represents the anticipated percent change in a bond’s price at a single point in time for a 1% change in yield. As duration increases, volatility increases as applicable interest rates change.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers then decide on risk factors to use in managing the Fund relative to that benchmark. In doing so, the portfolio managers consider recommendations from a team of specialists in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a different team of specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. The portfolio managers rely on the specialists for adjusting the Fund’s risk exposures and security selection. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related

1 Invesco Short Term Bond Fund

fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Mortgage- and Asset-Backed Securities Risk . The Fund may invest in mortgage- and asset-backed securities that are subject to prepayment or call risk, which is the risk that the borrower’s payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. Faster prepayments often happen when interest rates are falling. As a result, the Fund may reinvest these early payments at lower interest rates, thereby reducing the Fund’s income. Conversely, when interest rates rise, prepayments may happen more slowly, causing the security to lengthen in duration. Longer duration securities tend to be more volatile. Securities may be prepaid at a price less than the original purchase value.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class C shares year-to-date (ended March 31, 2011): 0.60%

Best Quarter (ended June 30, 2009): 3.10%

Worst Quarter (ended September 30, 2008): -5.30%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			Since
	Year			Years			Inception

Class C shares: Inception (8/30/2002)
Return Before Taxes		2.92	%		1.93	%		2.08	%
Return After Taxes on Distributions		2.14			0.36			0.75
Return After Taxes on Distributions and Sale of Fund Shares		1.89			0.73			1.00

Class A shares ¹ : Inception (4/30/2004)		0.61			1.68			2.00

Class R shares ¹ : Inception (4/30/2004)		2.80			1.92			2.12

Class Y shares ¹ : Inception (10/3/2008)		3.31			2.15			2.22

Barclays Capital U.S. Aggregate Index: Inception (8/31/02) (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.17

Barclays Capital 1-3 Year Government/Credit Index: Inception (8/31/02) (reflects no deduction for fees, expenses or taxes)		2.80			4.53			3.67

Lipper Short Investment Grade Debt Funds Index: Inception (8/31/02)		4.55			3.77			3.19


1		Class A shares’, Class R shares’ and Class Y shares’ performance shown prior to the inception date is that of Class C shares and includes the 12b-1 fees applicable to Class C shares. Class C shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class C shares only and after-tax returns for other classes will vary.

2 Invesco Short Term Bond Fund

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Chuck Burge	Portfolio Manager		2009

John Craddock	Portfolio Manager		2010

Purchase and Sale of Fund Shares

There are no minimum investments for Class R shares for fund accounts. The minimum investments for Class A, C and Y shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund invests under normal circumstances at least 80% of net assets (plus borrowings for investment purposes) in fixed-income securities.

The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration (the Fund’s price sensitivity to changes in interest rates) of less than three years.

The Fund may invest up to 15% of its total assets in foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers decide on appropriate risk factors such as sector and issuer weightings and duration relative to that benchmark. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of specialist decision makers in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and security selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. Specialist decision makers employ a bottom-up approach to recommending larger or smaller exposure to specific risk factors. In general specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers rely on these decision makers and market specific specialists for adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology. Portfolio managers retain discretion for deciding how risk positions are implemented. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

3 Invesco Short Term Bond Fund

Risks

The principal risks of investing in the Fund are:

Dollar Roll Transactions Risk . Dollar roll transactions involve the risk that the market value and yield of the securities retained by the Fund may decline below the price of the mortgage-related securities sold by the Fund that it is obligated to repurchase. Also, in the event the buyer of mortgage-related securities files for bankruptcy or becomes insolvent, the Fund’s use of the proceeds from the sale may be restricted pending a decision whether the Fund is obligated to repurchase mortgage-related securities.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.21% of Invesco Short Term Bond Fund’s average daily net assets after fee waiver and/or expense reimbursement.

4 Invesco Short Term Bond Fund

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Chuck Burge, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 2010.


n	John Craddock, Portfolio Manager, who has been responsible for the Fund since 2010 and has been associated with Invesco and/or its affiliates since 1999.

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco Short Term Bond Fund are subject to the maximum 2.50% initial sales charge as listed under the heading “Category IV Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist primarily of ordinary income.

Dividends

The Fund generally declares dividends from net investment income daily and pays them monthly.

Capital Gains Distributions

Benchmark Descriptions

Barclays Capital 1-3 Year Government/Credit Index is an unmanaged index considered representative of performance of short-term U.S. corporate bonds and U.S. government bonds with maturities from one to three years.

Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

Lipper Short Investment Grade Debt Funds Index is an unmanaged index considered representative of short investment grade debt funds tracked by Lipper.

5 Invesco Short Term Bond Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																						Ratio of			Ratio of
																						expenses			expenses
						Net gains																to average			to average net			Ratio of net
	Net asset					(losses) on						Dividends										net assets			assets without			investment
	value,		Net			securities (both			Total from			from net			Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment			realized and			investment			investment			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income			unrealized)			operations			income			of period		return ^(a)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(b)


Class A
Year ended 02/28/11	$	8.68	$	0.21	^(c)	$	0.04		$	0.25		$	(0.21	)	$	8.72		2.87	%	$	113,103		0.65	% ^(d)		0.80	% ^(d)		2.41	% ^(d)		48	%
Seven months ended 02/28/10		8.55		0.17	^(c)		0.13			0.30			(0.17	)		8.68		3.52			80,252		0.65	^(f)		0.87	^(f)		3.35	^(f)		48
Year ended 07/31/09		9.48		0.48	^(c)		(0.90	)		(0.42	)		(0.51	)		8.55		(4.37	)		43,695		0.77			0.98			5.60			123
Year ended 07/31/08		9.75		0.56	^(c)		(0.26	)		0.30			(0.57	)		9.48		3.18			45,674		0.86			0.94			5.87			73
Year ended 07/31/07		9.80		0.51			(0.04	)		0.47			(0.52	)		9.75		4.84			28,663		0.86			0.98			5.14			101
Year ended 07/31/06		9.93		0.40			(0.12	)		0.28			(0.41	)		9.80		2.92			32,851		0.86			0.98			4.04			82

Class C
Year ended 02/28/11		8.68		0.19	^(c)		0.02			0.21			(0.18	)		8.71		2.49			246,940		0.90	^(d)		1.55	^(d)		2.16	^(d)		48
Seven months ended 02/28/10		8.54		0.16	^(c)		0.14			0.30			(0.16	)		8.68		3.50			103,785		0.90	^(f)		1.62	^(f)		3.10	^(f)		48
Year ended 07/31/09		9.48		0.46	^(c)		(0.91	)		(0.45	)		(0.49	)		8.54		(4.72	)		66,863		1.02			1.73			5.35			123
Year ended 07/31/08		9.75		0.54	^(c)		(0.26	)		0.28			(0.55	)		9.48		2.93			75,404		1.11			1.69			5.62			73
Year ended 07/31/07		9.80		0.48			(0.04	)		0.44			(0.49	)		9.75		4.59			83,869		1.11			1.73			4.89			101
Year ended 07/31/06		9.93		0.38			(0.13	)		0.25			(0.38	)		9.80		2.61			109,622		1.17			1.73			3.73			82

Class R
Year ended 02/28/11		8.70		0.19	^(c)		0.02			0.21			(0.18	)		8.73		2.49			2,588		0.90	^(d)		1.05	^(d)		2.16	^(d)		48
Seven months ended 02/28/10		8.56		0.16	^(c)		0.14			0.30			(0.16	)		8.70		3.49			2,086		0.90	^(f)		1.12	^(f)		3.10	^(f)		48
Year ended 07/31/09		9.50		0.46	^(c)		(0.91	)		(0.45	)		(0.49	)		8.56		(4.70	)		1,643		1.02			1.23			5.35			123
Year ended 07/31/08		9.77		0.54	^(c)		(0.26	)		0.28			(0.55	)		9.50		2.94			1,310		1.11			1.19			5.62			73
Year ended 07/31/07		9.82		0.48			(0.04	)		0.44			(0.49	)		9.77		4.59			621		1.11			1.23			4.89			101
Year ended 07/31/06		9.94		0.37			(0.10	)		0.27			(0.39	)		9.82		2.77			477		1.11			1.23			3.79			82

Class Y
Year ended 02/28/11		8.69		0.23	^(c)		0.03			0.26			(0.23	)		8.72		3.00			12,950		0.40	^(d)		0.55	^(d)		2.66	^(d)		48
Seven months ended 02/28/10		8.55		0.18	^(c)		0.14			0.32			(0.18	)		8.69		3.79			8,132		0.40	^(f)		0.62	^(f)		3.60	^(f)		48
Year ended 07/31/09 ^(e)		8.81		0.41	^(c)		(0.28	)		0.13			(0.39	)		8.55		1.62			2,545		0.51	^(f)		0.75	^(f)		5.86	^(f)		123


(a)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
(b)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(c)		Calculated using average shares outstanding.
(d)		Ratios are based on average daily net assets (000’s omitted) of $98,413, $184,668, $2,670 and $12,324 for Class A, Class C, Class R and Class Y shares, respectively.
(e)		Commencement date of October 3, 2008.
(f)		Annualized.

6 Invesco Short Term Bond Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.56%		0	.56%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		1	.83%		6	.35%		10	.85%		15	.54%		20	.42%		25	.52%		30	.83%		36	.36%		42	.13%		48	.14%
End of Year Balance	$	10,182	.90	$	10,635	.02	$	11,084	.88	$	11,553	.77	$	12,042	.50	$	12,551	.89	$	13,082	.84	$	13,636	.24	$	14,213	.06	$	14,814	.27
Estimated Annual Expenses	$	305	.81	$	58	.29	$	83	.62	$	87	.16	$	90	.85	$	94	.69	$	98	.69	$	102	.87	$	107	.22	$	111	.76


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.56%		0	.56%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%		0	.77%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.44%		9	.08%		13	.69%		18	.50%		23	.51%		28	.74%		34	.18%		39	.86%		45	.77%		51	.94%
End of Year Balance	$	10,444	.00	$	10,907	.71	$	11,369	.11	$	11,850	.02	$	12,351	.28	$	12,873	.74	$	13,418	.30	$	13,985	.89	$	14,577	.49	$	15,194	.12
Estimated Annual Expenses	$	57	.24	$	59	.78	$	85	.77	$	89	.39	$	93	.18	$	97	.12	$	101	.22	$	105	.51	$	109	.97	$	114	.62


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.91%		0	.91%		1	.27%		1	.27%		1	.27%		1	.27%		1	.27%		1	.27%		1	.27%		1	.27%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.09%		8	.35%		12	.39%		16	.58%		20	.93%		25	.44%		30	.12%		34	.97%		40	.01%		45	.23%
End of Year Balance	$	10,409	.00	$	10,834	.73	$	11,238	.86	$	11,658	.07	$	12,092	.92	$	12,543	.99	$	13,011	.88	$	13,497	.22	$	14,000	.66	$	14,522	.89
Estimated Annual Expenses	$	92	.86	$	96	.66	$	140	.17	$	145	.40	$	150	.82	$	156	.44	$	162	.28	$	168	.33	$	174	.61	$	181	.12


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.91%		0	.91%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.09%		8	.35%		12	.55%		16	.92%		21	.45%		26	.17%		31	.06%		36	.15%		41	.43%		46	.92%
End of Year Balance	$	10,409	.00	$	10,834	.73	$	11,255	.12	$	11,691	.81	$	12,145	.46	$	12,616	.70	$	13,106	.23	$	13,614	.75	$	14,143	.00	$	14,691	.75
Estimated Annual Expenses	$	92	.86	$	96	.66	$	123	.70	$	128	.50	$	133	.49	$	138	.67	$	144	.05	$	149	.64	$	155	.44	$	161	.47


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.41%		0	.41%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.59%		9	.39%		14	.18%		19	.18%		24	.40%		29	.85%		35	.54%		41	.48%		47	.67%		54	.14%
End of Year Balance	$	10,459	.00	$	10,939	.07	$	11,418	.20	$	11,918	.32	$	12,440	.34	$	12,985	.23	$	13,553	.98	$	14,147	.64	$	14,767	.31	$	15,414	.12
Estimated Annual Expenses	$	41	.94	$	43	.87	$	69	.31	$	72	.34	$	75	.51	$	78	.82	$	82	.27	$	85	.88	$	89	.64	$	93	.56


1		Your actual expenses may be higher or lower than those shown.
2		The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in year one for Class C has not been deducted.

7 Invesco Short Term Bond Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.


n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.


n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco Short Term Bond Fund
SEC 1940 Act file number: 811-05686


invesco.com/us STB-PRO-1

Fund Summary

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Class:

Investor

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

4.75

None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)

None

5.00

1.00

None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	A			B			C			R			Y			Investor

Management Fees ¹		0.37	%		0.37	%		0.37	%		0.37	%		0.37	%		0.37	%

Distribution and/or Service (12b-1) Fees		0.25			1.00			1.00			0.50			None			0.25

Other Expenses		0.25			0.25			0.25			0.25			0.25			0.25

Total Annual Fund Operating Expenses ²		0.87			1.62			1.62			1.12			0.62			0.87


1		Effective June 6, 2011, the Board of Trustees approved a reduced contractual advisory fee schedule for the Fund. Pursuant to the new fee schedule, the Fund’s maximum annual advisory fee rate ranges from 0.50% (for average net assets up to $200 million) to 0.24% (for average net assets over $20.5 billion). Management Fees have been restated to reflect the new fee schedule.
2		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Class A	$	560	$	739	$	934	$	1,497

Class B		665		811		1,081		1,721

Class C		265		511		881		1,922

Class R		114		356		617		1,363

Class Y		63		199		346		774

Investor Class		89		278		482		1,073

You would pay the following expenses if you did not redeem your shares:


	1 Year		3 Years		5 Years		10 Years

Class A	$	560	$	739	$	934	$	1,497

Class B		165		511		881		1,721

Class C		165		511		881		1,922

Class R		114		356		617		1,363

Class Y		63		199		346		744

Investor Class		89		278		482		1,073

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of net assets (plus borrowings for investment purposes) in debt securities issued, guaranteed or otherwise backed by the U.S. Government or its agencies and instrumentalities. These securities include: (1) U.S. Treasury obligations and (2) obligations issued or guaranteed by U.S. Government agencies and instrumentalities and supported by (a) the full faith and credit of the U.S. Treasury, (b) the right of the issuer to borrow from the U.S. Treasury, or (c) the credit of the agency or instrumentality. The principal type of fixed income securities purchased by the Fund are callable bonds that can be redeemed by the issuer prior to their stated maturity, bullet-maturity debt bonds with a stated maturity date; mortgage-backed securities (MBS) consisting of interests in underlying mortgages with maturities of up to thirty years, and Treasury and agency holdings. The Fund may also invest in derivative instruments such as treasury futures and options on treasury futures. The Fund may enter into reverse repurchase agreements. The Fund often uses Treasury futures and dollar rolls transactions to gain exposure to the Treasury and agency MBS markets while deploying Fund assets in other securities.

The Fund invests in securities of all maturities, but will maintain a weighted average effective maturity for the portfolio of between three and ten years.

1 Invesco U.S. Government Fund

recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. The portfolio managers rely on the specialists for adjusting the Fund’s risk exposures and security selection. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the fund.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.

Class A shares year-to-date (ended March 31, 2011): 0.06%

Best Quarter (ended December 31, 2008): 7.22%

Worst Quarter (ended December 31, 2010): -2.11%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Class A shares: Inception (4/28/1987)
Return Before Taxes		0.31	%		4.16	%		4.19	%
Return After Taxes on Distributions		-0.79			2.55			2.47
Return After Taxes on Distributions and Sale of Fund Shares		0.20			2.59			2.53

Class B shares: Inception (9/7/1993)		-0.45			4.05			4.08

Class C shares: Inception (8/4/1997)		3.44			4.37			3.93

Class R shares ¹ : Inception (6/3/2002)		5.07			4.91			4.45

Class Y shares ² : Inception (10/3/2008)		5.48			5.29			4.75

Investor Class shares ² : Inception (9/30/2003)		5.34			5.20			4.73

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital U.S. Government Index (reflects no deduction for fees, expenses or taxes)		5.52			5.45			5.42

Lipper Intermediate U.S. Government Funds Index		6.53			5.78			5.31


1		Class R shares’ performance shown prior to the inception date is that of Class A shares restated to reflect the higher 12b-1 fees applicable to Class R shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.
2		Class Y shares’ and Investor Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement.

2 Invesco U.S. Government Fund

arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Clint Dudley	Portfolio Manager		2009

Brian Schneider	Portfolio Manager		2009

Purchase and Sale of Fund Shares


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan		$25		$25

All other types of accounts if the investor is purchasing shares through a systematic purchase plan		$50		$50

IRAs, Roth IRAs and Coverdell ESAs		$250		$25

All other accounts		$1,000		$50

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Objective(s) and Strategies

The Fund invests in securities of all maturities, but will maintain a weighted average effective maturity for the portfolio of between three and ten years.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers decide on appropriate risk factors such as duration, the shape of the U.S. Treasury yield curve, U.S. agency exposure, U.S. agency mortgage-backed security (MBS) exposure, and Treasury Inflation-Protected Security (TIPS) to use in managing the Fund relative to that benchmark. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of independent specialist decision makers in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. Specialist decision makers employ a bottom-up approach to recommending larger or smaller exposure to specific risk factors. In general specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers rely on these decision makers and market specific specialists for adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology. Portfolio managers retain discretion for deciding how to implement recommended risk positions. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

3 Invesco U.S. Government Fund

Risks

The principal risks of investing in the Fund are:

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reverse Repurchase Agreement Risk . Reverse repurchase agreements involve the risk that the market value of securities to be repurchased may decline below the repurchase price, or that the other party may default on its obligation, causing the Fund to be delayed or prevented from completing the transaction. In the event the buyer of securities under a reverse repurchase agreement files for bankruptcy or becomes insolvent, the Fund’s use of the proceeds from the sale of the securities may be restricted pending a determination by the other party, or its trustee or receiver, whether to enforce the Fund’s repurchase obligation.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

Fund Management

The Adviser(s)

Pending Litigation. Detailed information concerning pending litigation can be found in the SAI.

Adviser Compensation

During the fiscal year ended February 28, 2011, the Adviser received compensation of 0.43% of Invesco U.S. Government Fund’s average daily net assets.

Portfolio Managers

The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:


n	Clint Dudley, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 1998.


n	Brian Schneider, Portfolio Manager, who has been responsible for the Fund since 2009 and has been associated with Invesco and/or its affiliates since 1987.

4 Invesco U.S. Government Fund

More information on the portfolio managers may be found at www.invesco.com/us. The Web site is not part of this prospectus.

The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.

Other Information

Sales Charges

Purchases of Class A shares of Invesco U.S. Government Fund are subject to the maximum 4.75% initial sales charge as listed under the heading “Category II Initial Sales Charges” in the “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” section of this prospectus. Purchases of Class B shares will be subject to payment of Category I contingent deferred sales charges (CDSCs) during the applicable CDSC periods (including exchanges into Class B Shares of another Invesco Fund during the applicable CDSC periods) listed under the heading “CDSCs on Class B Shares” in the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of the prospectus. Purchases of Class C shares are subject to a CDSC. For more information on CDSCs, see the “Shareholder Account Information—Contingent Deferred Sales Charges (CDSCs)” section of this prospectus.

Dividends and Distributions

The Fund expects, based on its investment objective and strategies, that its distributions, if any, will consist primarily of ordinary income.

Dividends

The Fund generally declares dividends from net investment income daily and pays them monthly.

Capital Gains Distributions

Benchmark Descriptions

Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

Barclays Capital U.S. Government Index is an unmanaged index considered representative of fixed-income obligations issued by the U.S. Treasury, government agencies and quasi-federal corporations.

Lipper Intermediate U.S. Government Funds Index is an unmanaged index considered representative of intermediate U.S. Government funds tracked by Lipper.

5 Invesco U.S. Government Fund

Financial Highlights

The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

The information has been audited by PricewaterhouseCoopers LLP, whose report, along with the Fund’s financial statements, is included in the Fund’s annual report, which is available upon request.


																				Ratio of			Ratio of
					Net gains															expenses			expenses
					(losses) on															to average			to average net			Ratio of net
	Net asset				securities					Dividends										net assets			assets without			investment
	value,		Net		(both			Total from		from net			Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment		realized and			investment		investment			value, end		Total			end of period		and/or expenses			and/or expenses			to average			Portfolio
	of period		income ^(a)		unrealized)			operations		income			of period		return ^(b)			(000s omitted)		absorbed			absorbed			net assets			turnover ^(c)


Class A
Year ended 02/28/11	$	8.91	$	0.16	$	0.11		$	0.27	$	(0.27	)	$	8.91		3.04	%	$	291,338		0.98	% ^(d)		0.98	% ^(d)		1.75	% ^(d)		70	%
Seven Months ended 02/28/10		8.82		0.16		0.14			0.30		(0.21	)		8.91		3.45			312,180		1.04	^(e)		1.04	^(e)		3.01	^(e)		26
Year ended 07/31/09		8.62		0.32		0.26			0.58		(0.38	)		8.82		6.81			408,039		0.98			0.98			3.65			69
Year ended 07/31/08		8.44		0.37		0.23			0.60		(0.42	)		8.62		7.28			335,216		1.06			1.06			4.25			112
Year ended 07/31/07		8.49		0.38		0.01			0.39		(0.44	)		8.44		4.72			278,955		1.06			1.07			4.48			37
Year ended 07/31/06		8.83		0.33		(0.24	)		0.09		(0.43	)		8.49		1.10			313,107		1.22			1.23			3.87			169

Class B
Year ended 02/28/11		8.94		0.09		0.11			0.20		(0.20	)		8.94		2.27			45,597		1.73	^(d)		1.73	^(d)		1.00	^(d)		70
Seven Months ended 02/28/10		8.85		0.12		0.14			0.26		(0.17	)		8.94		2.99			67,389		1.79	^(e)		1.79	^(e)		2.26	^(e)		26
Year ended 07/31/09		8.65		0.26		0.26			0.52		(0.32	)		8.85		6.01			84,501		1.73			1.73			2.90			69
Year ended 07/31/08		8.46		0.30		0.25			0.55		(0.36	)		8.65		6.60			97,091		1.81			1.81			3.50			112
Year ended 07/31/07		8.52		0.32		0.00			0.32		(0.38	)		8.46		3.82			119,045		1.81			1.82			3.73			37
Year ended 07/31/06		8.86		0.27		(0.24	)		0.03		(0.37	)		8.52		0.36			175,638		1.97			1.98			3.12			169

Class C
Year ended 02/28/11		8.90		0.09		0.11			0.20		(0.20	)		8.90		2.27			53,323		1.73	^(d)		1.73	^(d)		1.00	^(d)		70
Seven Months ended 02/28/10		8.82		0.12		0.13			0.25		(0.17	)		8.90		2.88			66,881		1.79	^(e)		1.79	^(e)		2.26	^(e)		26
Year ended 07/31/09		8.62		0.26		0.26			0.52		(0.32	)		8.82		6.02			70,062		1.73			1.73			2.90			69
Year ended 07/31/08		8.43		0.30		0.25			0.55		(0.36	)		8.62		6.61			45,269		1.81			1.81			3.50			112
Year ended 07/31/07		8.49		0.32		0.00			0.32		(0.38	)		8.43		3.82			33,551		1.81			1.82			3.73			37
Year ended 07/31/06		8.82		0.27		(0.23	)		0.04		(0.37	)		8.49		0.48			41,849		1.97			1.98			3.12			169

Class R
Year ended 02/28/11		8.91		0.14		0.12			0.26		(0.25	)		8.92		2.90			16,999		1.23	^(d)		1.23	^(d)		1.50	^(d)		70
Seven Months ended 02/28/10		8.83		0.14		0.14			0.28		(0.20	)		8.91		3.18			13,655		1.29	^(e)		1.29	^(e)		2.76	^(e)		26
Year ended 07/31/09		8.63		0.30		0.26			0.56		(0.36	)		8.83		6.54			12,447		1.23			1.23			3.40			69
Year ended 07/31/08		8.44		0.34		0.25			0.59		(0.40	)		8.63		7.14			6,300		1.31			1.31			4.00			112
Year ended 07/31/07		8.50		0.36		0.00			0.36		(0.42	)		8.44		4.34			4,577		1.31			1.32			4.23			37
Year ended 07/31/06		8.84		0.31		(0.24	)		0.07		(0.41	)		8.50		0.86			5,320		1.47			1.48			3.62			169

Class Y
Year ended 02/28/11		8.91		0.18		0.12			0.30		(0.29	)		8.92		3.42			9,366		0.73	^(d)		0.73	^(d)		2.00	^(d)		70
Seven Months ended 02/28/10		8.83		0.17		0.13			0.30		(0.22	)		8.91		3.49			2,243		0.79	^(e)		0.79	^(e)		3.26	^(e)		26
Year ended 07/31/09 ^(f)		8.70		0.29		0.17			0.46		(0.33	)		8.83		5.30			4,112		0.71	^(e)		0.71	^(e)		3.92	^(e)		69

Investor Class
Year ended 02/28/11		8.91		0.16		0.13			0.29		(0.28	)		8.92		3.16			102,784		0.98	^(d)		0.98	^(d)		1.75	^(d)		70
Seven Months ended 02/28/10		8.83		0.16		0.13			0.29		(0.21	)		8.91		3.33			65,244		1.04	^(e)		1.04	^(e)		3.01	^(e)		26
Year ended 07/31/09		8.63		0.32		0.26			0.58		(0.38	)		8.83		6.82			51,292		0.98			0.98			3.65			69
Year ended 07/31/08		8.44		0.37		0.25			0.62		(0.43	)		8.63		7.45			41,807		1.02			1.02			4.29			112
Year ended 07/31/07		8.50		0.39		0.00			0.39		(0.45	)		8.44		4.65			40,278		1.02			1.03			4.52			37
Year ended 07/31/06		8.83		0.34		(0.23	)		0.11		(0.44	)		8.50		1.26			45,437		1.15			1.16			3.94			169


(a)		Calculated using average shares outstanding.
(b)		Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions.
(c)		Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
(d)		Ratios are based on average daily net assets (000’s) of $316,467, $59,850, $63,884, $15,456, $5,380 and $103,475 for Class A, Class B, Class C, Class R, Class Y and Investor Class shares, respectively.
(e)		Annualized.
(f)		Commencement date of October 3, 2008.

6 Invesco U.S. Government Fund

Hypothetical Investment and Expense Information


	n	You invest $10,000 in the Fund and hold it for the entire 10-year period;


	n	Your investment has a 5% return before expenses each year;
	n	Hypotheticals both with and without any applicable initial sales charge applied; and
	n	There is no sales charge on reinvested dividends.



Class A (Includes Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		(0	.82)%		3	.28%		7	.55%		11	.99%		16	.61%		21	.43%		26	.44%		31	.67%		37	.10%		42	.77%
End of Year Balance	$	9,918	.38	$	10,328	.01	$	10,754	.56	$	11,198	.72	$	11,661	.23	$	12,142	.84	$	12,644	.34	$	13,166	.55	$	13,710	.33	$	14,276	.56
Estimated Annual Expenses	$	559	.58	$	88	.07	$	91	.71	$	95	.50	$	99	.44	$	103	.55	$	107	.82	$	112	.28	$	116	.91	$	121	.74


Class A (Without Maximum
Sales Charge)	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%		0	.87%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.13%		8	.43%		12	.91%		17	.57%		22	.43%		27	.48%		32	.75%		38	.23%		43	.94%		49	.89%
End of Year Balance	$	10,413	.00	$	10,843	.06	$	11,290	.88	$	11,757	.19	$	12,242	.76	$	12,748	.39	$	13,274	.89	$	13,823	.15	$	14,394	.04	$	14,988	.52
Estimated Annual Expenses	$	88	.80	$	92	.46	$	96	.28	$	100	.26	$	104	.40	$	108	.71	$	113	.20	$	117	.88	$	122	.74	$	127	.81


Class B ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		0	.87%		0	.87%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.38%		6	.87%		10	.49%		14	.22%		18	.08%		22	.07%		26	.20%		30	.46%		35	.85%		41	.46%
End of Year Balance	$	10,338	.00	$	10,687	.42	$	11,048	.66	$	11,422	.10	$	11,808	.17	$	12,207	.29	$	12,619	.89	$	13,046	.45	$	13,585	.26	$	14,146	.34
Estimated Annual Expenses	$	164	.74	$	170	.31	$	176	.06	$	182	.01	$	188	.17	$	194	.53	$	201	.10	$	207	.90	$	115	.85	$	120	.63


Class C ²	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%		1	.62%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.38%		6	.87%		10	.49%		14	.22%		18	.08%		22	.07%		26	.20%		30	.46%		34	.87%		39	.43%
End of Year Balance	$	10,388	.00	$	10,687	.42	$	11,048	.66	$	11,422	.10	$	11,808	.17	$	12,207	.29	$	12,619	.89	$	13,046	.45	$	13,487	.42	$	13,943	.29
Estimated Annual Expenses	$	164	.74	$	170	.31	$	176	.06	$	182	.01	$	188	.17	$	194	.53	$	201	.10	$	207	.90	$	214	.92	$	222	.19


Class R	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%		1	.12%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		3	.88%		7	.91%		12	.10%		16	.45%		20	.96%		25	.66%		30	.53%		35	.60%		40	.86%		46	.33%
End of Year Balance	$	10,388	.00	$	10,791	.05	$	11,209	.75	$	11,644	.69	$	12,096	.50	$	12,565	.84	$	13,053	.40	$	13,559	.87	$	14,085	.99	$	14,632	.53
Estimated Annual Expenses	$	114	.17	$	118	.60	$	123	.20	$	127	.98	$	132	.95	$	138	.11	$	143	.47	$	149	.03	$	154	.82	$	160	.82


Class Y	Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10


Annual Expense Ratio ¹		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%		0	.62%
Cumulative Return Before Expenses		5	.00%		10	.25%		15	.76%		21	.55%		27	.63%		34	.01%		40	.71%		47	.75%		55	.13%		62	.89%
Cumulative Return After Expenses		4	.38%		8	.95%		13	.72%		18	.71%		23	.90%		29	.33%		35	.00%		40	.91%		47	.08%		53	.52%
End of Year Balance	$	10,438	.00	$	10,895	.18	$	11,372	.39	$	11,870	.50	$	12,390	.43	$	12,933	.13	$	13,499	.60	$	14,090	.89	$	14,708	.07	$	15,352	.28
Estimated Annual Expenses	$	63	.36	$	66	.13	$	69	.03	$	72	.05	$	75	.21	$	78	.50	$	81	.94	$	85	.53	$	89	.28	$	93	.19

1 Your actual expenses may be higher or lower than those shown. 2 The hypothetical assumes you hold your investment for a full 10 years. Therefore, any applicable deferred sales charge that might apply in years one through six for Class B and year one for Class C has not been deducted.

7 Invesco U.S. Government Fund

Shareholder Account Information

Choosing a Share Class



Share Classes

Class A	Class B	Class C	Class R	Class Y	Investor Class

n Initial sales charge which may be waived or reduced	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge	n No initial sales charge
n Contingent deferred sales charge on certain redemptions	n Contingent deferred sales charge on redemptions within six or fewer years	n Contingent deferred sales charge on redemptions within one year ⁴	n No contingent deferred sales charge	n No contingent deferred sales charge	n No contingent deferred sales charge
n 12b-1 fee of up to 0.25% ¹	n 12b-1 fee of up to 1.00%	n 12b-1 fee of up to 1.00% ⁵	n 12b-1 fee of up to 0.50%	n No 12b-1 fee	n 12b-1 fee of up to 0.25% ¹
	n Generally converts to Class A shares on or about the end of the month which is at least eight years after the date on which shares were purchased along with a pro rata portion of reinvested dividends and distributions ^2,3	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares	n Does not convert to Class A shares
n Generally more appropriate for long-term investors	n New or additional investments are no longer permitted.	n Generally more appropriate for short-term investors n Purchase orders limited to amounts less than $1,000,000	n Generally available only to employee benefit plans	n Generally available only to investors who purchase through fee-based advisory accounts with an approved financial intermediary or to any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.	n Generally closed to new investors


1		Class A2 shares of Invesco Tax-Free Intermediate Fund and Investor Class shares of Invesco Money Market Fund, Invesco Tax-Exempt Cash Fund, Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio do not have a 12b-1 fee.
2		Class B shares of Invesco Money Market Fund convert to Invesco Cash Reserve Shares. Class B5 shares of Invesco Money Market Fund convert to Class A5 shares.
3		Class B shares and Class B5 shares will not convert to Class A shares or Class A5 shares, respectively, that have a higher 12b-1 fee rate than the respective Class B shares or Class B5 shares at the time of conversion.
4		CDSC does not apply to redemption of Class C shares of Invesco Short Term Bond Fund unless you received Class C shares of Invesco Short Term Bond Fund through an exchange from Class C shares from another Invesco Fund that is still subject to a CDSC.
5		Class C shares of Invesco Floating Rate Fund have a 12b-1 fee of 0.75%.

In addition to the share classes shown in the chart above, the following Funds offer the following additional share classes on a limited basis:


n	Class A2 shares: Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund;

n	Class A5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;


n	Class B5 shares: Invesco Money Market Fund (New or additional investments in Class B5 shares are no longer permitted);


n	Class C5 shares: Invesco Balanced-Risk Retirement Funds and Invesco Money Market Fund;

n	Class R5 shares: Invesco Balanced-Risk Retirement Funds;

n	Class P shares: Invesco Summit Fund;


n	Class S shares: Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund; and


n	Invesco Cash Reserve Shares: Invesco Money Market Fund.

A-1 The Invesco Funds

MCF—06/11

Share Class Eligibility

Class A, B, C and Invesco Cash Reserve Shares

Class A2 Shares

Class A5, B5, C5 and R5 Shares

Class P Shares

Class R Shares

Class S Shares

Class Y Shares

Investor Class Shares


n	Investors who established accounts prior to April 1, 2002, in Investor Class shares who have continuously maintained an account in Investor Class shares (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons). These investors are referred to as “Investor Class grandfathered investors.”
n	Customers of certain financial intermediaries which have had relationships with the Funds’ distributor or any Funds that offered Investor Class shares prior to April 1, 2002, who have continuously maintained such relationships. These intermediaries are referred to as “Investor Class grandfathered intermediaries.”
n	Eligible employee benefit plans. Investor Class shares are generally not available for IRAs unless the IRA depositor is considered an Investor Class grandfathered investor or the account is opened through an Investor Class grandfathered intermediary.
n	Any current, former or retired trustee, director, officer or employee (or immediate family member of a current, former or retired trustee, director, officer or employee) of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries.

A-2 The Invesco Funds

Distribution and Service (12b-1) Fees

The following Funds and share classes do not have 12b-1 plans:


n	Invesco Tax-Free Intermediate Fund, Class A2 shares.
n	Invesco Money Market Fund, Investor Class shares.
n	Invesco Tax-Exempt Cash Fund, Investor Class shares.
n	Premier Portfolio, Investor Class shares.
n	Premier U.S. Government Money Portfolio, Investor Class shares.
n	Premier Tax-Exempt Portfolio, Investor Class shares.
n	All Funds, Class Y shares


n	Class A shares: 0.25%
n	Class B shares: 1.00%
n	Class C shares: 1.00%
n	Class P shares: 0.10%
n	Class R shares: 0.50%
n	Class S shares: 0.15%
n	Invesco Cash Reserve Shares: 0.15%
n	Investor Class shares: 0.25%

Please refer to the prospectus fee table for more information on a particular Fund’s 12b-1 fees.

Initial Sales Charges (Class A Shares Only)


Category I Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		5.50	%		5.82	%

$50,000 but less than	$	100,000		4.50			4.71

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.75			2.83

$500,000 but less than	$	1,000,000		2.00			2.04


Category II Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	50,000		4.75	%		4.99	%

$50,000 but less than	$	100,000		4.25			4.44

$100,000 but less than	$	250,000		3.50			3.63

$250,000 but less than	$	500,000		2.50			2.56

$500,000 but less than	$	1,000,000		2.00			2.04


Category III Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		1.00	%		1.01	%

$100,000 but less than	$	250,000		0.75			0.76

$250,000 but less than	$	1,000,000		0.50			0.50


Category IV Initial Sales Charges
			Investor’s Sales Charge
Amount invested			As a % of			As a % of
in a single transaction			Offering Price			Investment

Less than	$	100,000		2.50	%		2.56	%

$100,000 but less than	$	250,000		1.75			1.78

$250,000 but less than	$	500,000		1.25			1.27

$500,000 but less than	$	1,000,000		1.00			1.01

Class A Shares Sold Without an Initial Sales Charge


n	Investors who purchase shares through a fee-based advisory account with an approved financial intermediary or any current or retired trustee, director, officer or employee of any Invesco Fund or of Invesco Ltd. or any of its subsidiaries. In a fee based advisory program, a financial intermediary typically charges each investor a fee based on the value of the investor’s account in exchange for servicing that account.
n	Any investor who purchases their shares with the proceeds of a rollover, transfer or distribution from a retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor to another eligible retirement plan or individual retirement account for which Invesco Distributors acts as the prototype sponsor, to the extent that such proceeds are attributable to the redemption of shares of a Fund held through the plan or account.
n	Certain retirement plans (the “Plan” or “Plans”); provided, however, that such Plans:


	n	have assets of at least $1 million; or


	n	have at least 100 employees eligible to participate in the Plan; or


	n	execute multiple-plan transactions through a single omnibus account per Fund.


n	Any investor who maintains an account in Investor Class shares of a Fund (this includes anyone listed in the registration of an account, such as a joint owner, trustee or custodian, and immediate family members of such persons).
n	Qualified Tuition Programs created and maintained in accordance with Section 529 of the Code.
n	Insurance company separate accounts.

No investor will pay an initial sales charge in the following circumstances:


n	When buying Class A shares of Invesco Tax-Exempt Cash Fund and Class A2 shares of Invesco Limited Maturity Treasury Fund or Invesco Tax-Free Intermediate Fund.
n	When reinvesting dividends and distributions.
n	When exchanging shares of one Fund, that were previously assessed a sales charge, for shares of another Fund.
n	As a result of a Fund’s merger, consolidation, or acquisition of the assets of another Fund.


n	Unit investment trusts sponsored by Invesco Distributors or its affiliates.


n	Unitholders of Invesco Van Kampen unit investment trusts that enrolled in the reinvestment program prior to December 3, 2007 to reinvest

A-3 The Invesco Funds


	distributions from such trusts in Class A shares of the Funds. The Funds reserve the right to modify or terminate this program at any time.

Reduced Sales Charges and Sales Charge Exceptions

Rights of Accumulation

Letters of Intent

Reinstatement Following Redemption

In order to take advantage of this reinstatement privilege, you must inform your financial adviser or the transfer agent that you wish to do so at the time of your investment.

Contingent Deferred Sales Charges (CDSCs)

CDSCs on Class A Shares and Invesco Cash Reserve Shares of Invesco Money Market Fund

CDSCs on Class B Shares


CDSC Category I
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		3.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category II
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.00

Fifth		2.00

Sixth		1.00

Seventh and following		None


CDSC Category III
Year since purchase made	Class B CDSC

First		5.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth		None

A-4 The Invesco Funds


CDSC Category IV
Year since purchase made	Class B CDSC

First		4.00	%

Second		3.75

Third		3.50

Fourth		2.50

Fifth		1.50

Sixth		1.00

Seventh and following		None


CDSC Category V
Year since purchase made	Class B CDSC

First		2.00	%

Second		1.50

Third		1.00

Fourth		0.50

Fifth and following		None


CDSC Category VI
	Class B CDSC			Class B CDSC
	purchased before			purchased on or after
Year since purchase made	June 1, 2005			June 1, 2005

First		3.00	%		4.00	%

Second		2.50			4.00

Third		2.00			3.00

Fourth		1.00			2.50

Fifth		None			1.50

Sixth and following		None			None


CDSC Category VII
Year since purchase made	Class B CDSC

First		4.00	%

Second		4.00

Third		3.00

Fourth		2.50

Fifth		1.50

Sixth and following		None

CDSCs on Class C Shares

CDSCs on Class C Shares—Employee Benefit Plan

CDSCs on Class C Shares of Invesco Short Term Bond Fund

Computing a CDSC

CDSC Exceptions

Investors who own shares that are otherwise subject to a CDSC will not pay a CDSC in the following circumstances:


n	If you participate in the Systematic Redemption Plan and withdraw up to 12% of the value of your shares that are subject to a CDSC in any twelve-month period.
n	If you redeem shares to pay account fees.
n	If you are the executor, administrator or beneficiary of an estate or are otherwise entitled to assets remaining in an account following the death or post-purchase disability of a shareholder or beneficial owner and you choose to redeem those shares.

There are other circumstances under which you may be able to redeem shares without paying CDSCs.

Shares acquired through the reinvestment of dividends and distributions are not subject to CDSCs.

The following share classes are sold with no CDSC:


n	Class A shares of Invesco Tax-Exempt Cash Fund.
n	Class A shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund purchased on or after October 21, 2002, and prior to February 1, 2010.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund.
n	Invesco Cash Reserve Shares of Invesco Money Market Fund.
n	Investor Class shares of any Fund.
n	Class P shares of Invesco Summit Fund.


n	Class S shares of Invesco Charter Fund, Invesco Growth Allocation Fund, Invesco Moderate Allocation Fund, Invesco Moderately Conservative Allocation Fund and Invesco Summit Fund.


n	Class Y shares of any Fund.

CDSCs Upon Converting to Class Y Shares

If shares that are subject to a CDSC are converted to Class Y shares, the applicable CDSC will be assessed prior to conversion.

Redemption Fees


Invesco Asia Pacific Growth Fund Invesco China Fund Invesco Developing Markets Fund Invesco Emerging Market Local Currency Debt Fund Invesco Emerging Markets Equity Fund Invesco European Growth Fund Invesco European Small Company Fund Invesco Floating Rate Fund Invesco Global Core Equity Fund Invesco Global Equity Fund		Invesco Global Growth Fund Invesco Global Health Care Fund Invesco Global Real Estate Fund Invesco Global Small & Mid Cap Growth Fund Invesco Gold & Precious Metals Fund Invesco High Yield Fund Invesco High Yield Securities Fund Invesco International Allocation Fund Invesco International Core Equity Fund		Invesco International Growth Fund Invesco International Small Company Fund Invesco International Total Return Fund Invesco Pacific Growth Fund Invesco Van Kampen High Yield Municipal Fund Invesco Van Kampen Small Cap Growth Fund Invesco Van Kampen Small Cap Value Fund

A-5 The Invesco Funds

Redemption fees generally will not be charged in the following circumstances:


n	Redemptions and exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to assess the redemption fees.
n	Redemptions and exchanges of shares held by funds of funds, qualified tuition plans maintained pursuant to Section 529 of the Code, variable insurance contracts or separately managed qualified default investment alternative vehicles maintained pursuant to Section 404(c)(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), which use the Funds as underlying investments.
n	Redemptions and exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs or systematic withdrawal plans.
n	Redemptions requested within 31 days following the death or post-purchase disability of an account owner.
n	Redemptions or exchanges initiated by a Fund.

The following shares are not subject to redemption fees, irrespective of whether they are redeemed in accordance with any of the exceptions set forth above:


n	Shares acquired through the reinvestment of dividends and distributions.
n	Shares acquired through systematic purchase plans.
n	Shares acquired in connection with a rollover or transfer of assets from the trustee or custodian of an employee benefit plan to the trustee or custodian of another employee benefit plan.

Shares held by employee benefit plans will only be subject to redemption fees if the shares were acquired by exchange and are redeemed by exchange within 31 days of purchase.

The Funds have the discretion to waive the 2% redemption fee if a Fund is in jeopardy of losing its registered investment company qualification for tax purposes.

Your financial adviser or other financial intermediary may charge service fees for handling redemption transactions. Your shares also may be subject to a CDSC in addition to the redemption fee.

Purchasing Shares

Minimum Investments


			Additional
	Initial Investment		Investments
Type of Account	Per Fund		Per Fund

Asset or fee-based accounts managed by your financial adviser		None		None

Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans		None		None

IRAs, Roth IRAs and Coverdell ESAs accounts if the new investor is purchasing shares through a systematic purchase plan	$	25	$	25

All other accounts if the investor is purchasing shares through a systematic purchase plan		50		50

IRAs, Roth IRAs and Coverdell ESAs		250		25

All other accounts		1,000		50

Invesco Distributors has the discretion to accept orders for lesser amounts

How to Purchase Shares


	Opening An Account	Adding To An Account

Through a Financial Adviser	Contact your financial adviser.	Contact your financial adviser.
By Mail	Mail completed account application and check to the transfer agent, Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.	Mail your check and the remittance slip from your confirmation statement to the transfer agent. Invesco Investment Services, Inc. does NOT accept the following types of payments: Credit Card Checks, Third Party Checks, and Cash*.
By Wire	Mail completed account application to the transfer agent. Call the transfer agent at (800) 959-4246 to receive a reference number. Then, use the wire instructions provided below.	Call the transfer agent to receive a reference number. Then, use the wire instructions provided below.
Wire Instructions	Beneficiary Bank ABA/Routing #: 011001234 Beneficiary Account Number: 729639 Beneficiary Account Name: Invesco Investment Services, Inc. RFB: Fund Name, Reference # OBI: Your Name, Account #
By Telephone	Open your account using one of the methods described above.	Select the Bank Account Information option on your completed account application or complete a Systematic Options and Bank Information Form. Mail the application or form to the transfer agent. Once the transfer agent has received the form, call the transfer agent at the number below to place your purchase order.

A-6 The Invesco Funds


	Opening An Account	Adding To An Account

Automated Investor Line	Open your account using one of the methods described above.	Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your order after you have provided the bank instructions that will be requested.
By Internet	Open your account using one of the methods described above.	Access your account at www.invesco.com/us. The proper bank instructions must have been provided on your account. You may not purchase shares in retirement accounts on the internet.


*		In addition, Invesco Investment Services, Inc. does not accept cash equivalents for employer sponsored plan accounts. Cash equivalents include cashier’s checks, official checks, bank drafts, traveler’s checks, treasurer’s checks, postal money orders or money orders. We also reserve the right to reject at our sole discretion payment by Temporary / Starter Checks.

Systematic Purchase Plan

Dollar Cost Averaging

Automatic Dividend and Distribution Investment

You must comply with the following requirements to be eligible to invest your dividends and distributions in shares of another Fund:


n	Your account balance in the Fund paying the dividend or distribution must be at least $5,000; and
n	Your account balance in the Fund receiving the dividend or distribution must be at least $500.

Portfolio Rebalancing Program

Redeeming Shares


How to Redeem Shares

Through a Financial Adviser or Financial Intermediary		Contact your financial adviser or financial intermediary (including your retirement plan administrator).
By Mail		Send a written request to the transfer agent which includes:
		n Original signatures of all registered owners/trustees;
		n The dollar value or number of shares that you wish to redeem;
		n The name of the Fund(s) and your account number; and
		n Signature guarantees, if necessary (see below).
		The transfer agent may require that you provide additional documentation, or information, such as corporate resolutions or powers of attorney, if applicable. If you are redeeming from an IRA or other type of retirement account, you must complete the appropriate distribution form, as well as employer authorization.

A-7 The Invesco Funds


How to Redeem Shares

By Telephone		Call the transfer agent at 1-800-959-4246. You will be allowed to redeem by telephone if:
		n Your redemption proceeds are to be mailed to your address on record (and there has been no change in your address of record within the last 30 days) or transferred electronically to a pre-authorized checking account;
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have not previously declined the telephone redemption privilege.
		You may, in limited circumstances, initiate a redemption from an Invesco IRA account by telephone. Redemptions from other types of retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.
Automated Investor Line		Call the Invesco Investment Services, Inc. 24-hour Automated Investor Line at 1-800-246-5463. You may place your redemption order after you have provided the bank instructions that will be requested.
By Internet		Place your redemption request at www.invesco.com/us. You will be allowed to redeem by Internet if:
		n You do not hold physical share certificates;
		n You can provide proper identification information;
		n Your redemption proceeds do not exceed $250,000 per Fund; and
		n You have already provided proper bank information.
		Redemptions from most retirement plan accounts may be initiated only in writing and require the completion of the appropriate distribution form, as well as employer authorization.

Timing and Method of Payment

Redemption checks are mailed to your address of record, via first class U.S. mail, unless you make other arrangements with the transfer agent.

Expedited Redemptions (Invesco Cash Reserve Shares of Invesco Money Market Fund only)

Systematic Withdrawals

Check Writing

The transfer agent provides check writing privileges for accounts in the following Funds and share classes:


n	Invesco Money Market Fund, Invesco Cash Reserve Shares, Class A5 shares, Class Y shares and Investor Class shares
n	Invesco Tax-Exempt Cash Fund, Class A shares, Class Y shares and Investor Class shares
n	Premier Portfolio, Investor Class shares
n	Premier Tax-Exempt Portfolio, Investor Class shares
n	Premier U.S. Government Money Portfolio, Investor Class shares

You may redeem shares of these Funds by writing checks in amounts of $250 or more if you have subscribed to the service by completing a Check Writing authorization form.

Signature Guarantees

We require a signature guarantee in the following circumstances:


n	When your redemption proceeds will equal or exceed $250,000 per Fund.
n	When you request that redemption proceeds be paid to someone other than the registered owner of the account.
n	When you request that redemption proceeds be sent somewhere other than the address of record or bank of record on the account.
n	When you request that redemption proceeds be sent to a new address or an address that changed in the last 30 days.

Redemptions in Kind

Redemptions Initiated by the Funds

Minimum Account Balance

A-8 The Invesco Funds

Exchanging Shares

Permitted Exchanges

Except as otherwise provided herein or in the SAI, you generally may exchange your shares for shares of the same class of another Fund. The following below shows permitted exchanges:


Exchange From		Exchange To

Invesco Cash Reserve Shares		Class A, C, R, Y*, Investor Class

Class A		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A2		Class A, Y*, Investor Class, Invesco Cash Reserve Shares

Class A5		Class A, A5, Y*, Investor Class, Invesco Cash Reserve Shares

Investor Class		Class A, Y*, Investor Class

Class P		Class A, Invesco Cash Reserve Shares

Class S		Class A, S, Invesco Cash Reserve Shares

Class B		Class B

Class B5		Class B

Class C		Class C, Y*

Class C5		Class C, C5, Y*

Class R		Class R

Class R5		Class R, R5

Class Y		Class Y


*		You may exchange your Invesco Cash Reserve Shares, Class A shares, Class C shares, Class C5 shares or Investor Class shares for Class Y shares of the same Fund if you otherwise qualify to buy that Fund’s Class Y shares. Please consult your financial adviser to discuss the tax implications, if any, of all exchanges into Class Y shares of the same Fund.

Exchanges into Invesco Van Kampen Senior Loan Fund

Exchanges Not Permitted

The following exchanges are not permitted:


n	Investor Class shares cannot be exchanged for Class A shares of any Fund which offers Investor Class shares.
n	Exchanges into Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund (also known as the Category III Funds) are not permitted.
n	Class A2 shares of Invesco Limited Maturity Treasury Fund and Invesco Tax-Free Intermediate Fund cannot be exchanged for Class A shares of those Funds.


n	Invesco Cash Reserve Shares cannot be exchanged for Class C or R shares if the shares being exchanged were acquired by exchange from Class A shares of any Fund.


n	Invesco Cash Reserve shares, Class A shares, Class A2 shares, Class C shares or Investor Class shares of one Fund cannot be exchanged for Class Y shares of a different Fund.


n	All existing systematic exchanges and reallocations will cease and these options will no longer be available on all 403(b) prototype plans.

A-9 The Invesco Funds

Exchange Conditions

The following conditions apply to all exchanges:


n	Shares must have been held for at least one day prior to the exchange with the exception of dividends and distributions that are reinvested; and
n	If you have physical share certificates, you must return them to the transfer agent in order to effect the exchange.

Limit on the Number of Exchanges


n	Exchanges of shares held in accounts maintained by intermediaries that do not have the systematic capability to apply the exchange limitation.
n	Exchanges of shares held by Funds of Funds, qualified tuition plans maintained pursuant to Section 529 of the Code, and insurance company separate accounts which use the Funds as underlying investments.
n	Generally, exchanges effectuated pursuant to automatic investment rebalancing or dollar cost averaging programs.
n	Generally, exchanges on fee-based advisory accounts which involve a periodic rebalancing feature.
n	Exchanges initiated by a Fund or by the trustee, administrator or other fiduciary of an employee benefit plan (not in response to distribution or exchange instructions received from a plan participant).

If you exchange shares of one Fund for shares of multiple other Funds as part of a single transaction, that transaction is counted as one exchange out of a Fund.

Initial Sales Charges, CDSCs and 12b-1 Fees on Applicable to Exchanges

Rights Reserved by the Funds

Each Fund and its agents reserve the right at any time to:


n	Reject or cancel all or any part of any purchase or exchange order.
n	Modify any terms or conditions related to the purchase, redemption or exchange of shares of any Fund.
n	Reject or cancel any request to establish a Systematic Purchase Plan, Systematic Redemption Plan or Portfolio Rebalancing Program.
n	Suspend, change or withdraw all or any part of the offering made by this prospectus.

Excessive Short-Term Trading Activity (Market Timing) Disclosures


n	Trade activity monitoring.
n	Trading guidelines.
n	Redemption fees on trades in certain Funds.
n	The use of fair value pricing consistent with procedures approved by the Board.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the money market funds for the following reasons:


n	The money market funds are offered to investors as cash management vehicles; investors must perceive an investment in such Funds as an

A-10 The Invesco Funds


	alternative to cash, and must be able to purchase and redeem shares regularly and frequently.


n	One of the advantages of a money market fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of the money market funds will be detrimental to the continuing operations of such Funds.
n	The money market funds’ portfolio securities are valued on the basis of amortized cost, and such Funds seek to maintain a constant net asset value. As a result, there are no price arbitrage opportunities.
n	Because the money market funds seek to maintain a constant net asset value, investors expect to receive upon redemption the amount they originally invested in such Funds. Imposition of redemption fees would run contrary to investor expectations.

The Board does not believe that it is appropriate to adopt any such policies and procedures for the Fund for the following reasons:


n	Many investors use Invesco Limited Maturity Treasury Fund as a short-term investment alternative and should be able to purchase and redeem shares regularly and frequently.
n	One of the advantages of Invesco Limited Maturity Treasury Fund as compared to other investment options is liquidity. Any policy that diminishes the liquidity of Invesco Limited Maturity Treasury Fund will be detrimental to the continuing operations of such Fund.

Trade Activity Monitoring

Trading Guidelines

Redemption Fees

Fair Value Pricing

Pricing of Shares

Determination of Net Asset Value

Specific types of securities are valued as follows:

A-11 The Invesco Funds

Timing of Orders

A-12 The Invesco Funds

time that day, your order generally will be processed on the next business day and settled on the second business day following the receipt and acceptance of your order.

Taxes

Fund Tax Basics


n	A Fund earns income generally in the form of dividends or interest on its investments. This income, less expenses incurred in the operation of a Fund, constitutes the Fund’s net investment income from which dividends may be paid to you. If you are a taxable investor, distributions of net investment income generally are taxable to you as ordinary income.


n	Distributions of net short-term capital gains are taxable to you as ordinary income. A Fund with a high portfolio turnover rate (a measure of how frequently assets within a Fund are bought and sold) is more likely to generate short-term capital gains than a Fund with a low portfolio turnover rate.
n	Distributions of net long-term capital gains are taxable to you as long-term capital gains no matter how long you have owned your Fund shares.


n	Distributions declared to shareholders with a record date in December—if paid to you by the end of January—are taxable for federal income tax purposes as if received in December.
n	Any long-term or short-term capital gains realized from redemptions of Fund shares will be subject to federal income tax. For tax purposes, an exchange of your shares for shares of another Fund is the same as a sale.


n	At the time you purchase your Fund shares, the Fund’s net asset value may reflect undistributed income, undistributed capital gains, or net unrealized appreciation in value of portfolio securities held by the Fund. A subsequent distribution to you of such amounts, although constituting a return of your investment, would be taxable. This is sometimes referred to as “buying a dividend.”


n	By law, if you do not provide a Fund with your proper taxpayer identification number and certain required certifications, you may be subject to backup withholding on any distributions of income, capital gains, or proceeds from the sale of your shares. A Fund also must withhold if the IRS instructs it to do so. When withholding is required, the amount will be 28% of any distributions or proceeds paid.
n	You will not be required to include the portion of dividends paid by the Fund derived from interest on U.S. government obligations in your gross income for purposes of personal and, in some cases, corporate income taxes in many state and local tax jurisdictions. The percentage of dividends that constitutes dividends derived from interest on federal obligations will be determined annually. This percentage may differ from the actual percentage of interest received by the Fund on federal obligations for the particular days on which you hold shares.
n	Fund distributions and gains from sale or exchange of your Fund shares generally are subject to state and local income taxes.
n	If a Fund qualifies to pass through to you the tax benefits from foreign taxes it pays on its investments, and elects to do so, then any foreign taxes it pays on these investments may be passed through to you as a foreign tax credit. You will then be required to include your pro-rata share of these taxes in gross income, even though not actually received by you, and will be entitled either to deduct your share of these taxes in computing your taxable income, or to claim a foreign tax credit for these taxes against your U.S. federal income tax.
n	Foreign investors should be aware that U.S. withholding, special certification requirements to avoid U.S. backup withholding and claim any treaty benefits and estate taxes may apply to an investment in a Fund.

Tax-Exempt and Municipal Funds


n	You will not be required to include the “exempt-interest” portion of dividends paid by the Fund in your gross income for federal income tax purposes. You will be required to report the receipt of exempt-interest dividends and other tax-exempt interest on your federal income tax returns. The percentage of dividends that constitutes exempt-interest dividends will be determined annually. This percentage may differ from the actual percentage of exempt interest received by the Fund for the particular days in which you hold shares.
n	A Fund may invest in municipal securities the interest on which constitutes an item of tax preference and could give rise to a federal alternative minimum tax liability for you. However, under recently enacted provisions of the American Recovery and Reinvestment Act of 2009, tax exempt interest on such municipal securities issued in 2009 and 2010 is not an item of tax preference for purposes of the alternative minimum tax.
n	Exempt-interest dividends from interest earned on municipal securities of a state, or its political subdivisions, generally are exempt from that state’s personal income tax. Most states, however, do not grant tax-free treatment to interest from municipal securities of other states.
n	A Fund may invest a portion of its assets in securities that pay income that is not tax-exempt. To the extent that dividends paid by a Fund are derived from taxable investments or realized capital gains, they will be taxable as ordinary income or long-term capital gains.
n	A Fund may distribute to you any market discount and net short-term capital gains from the sale of its portfolio securities. If you are a taxable investor, Fund distributions from this income are taxable to you as ordinary income, and generally will neither qualify for the dividends received deduction in the case of corporate shareholders nor as qualified dividend income subject to reduced rates of taxation in the case of noncorporate shareholders.

A-13 The Invesco Funds


n	Exempt-interest dividends from a Fund are taken into account when determining the taxable portion of your social security or railroad retirement benefits, may be subject to state and local income taxes, may affect the deductibility of interest on certain indebtedness, and may have other collateral federal income tax consequences for you.
n	There are risks that: (a) a security issued as tax-exempt may be reclassified by the Internal Revenue Service or a state tax authority as taxable and/or (b) future legislative, administrative or court actions could adversely impact the qualification of income from a tax-exempt security as tax-free. Such reclassifications or actions could cause interest from a security to become taxable, possibly retroactively, subjecting you to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore, the value of the Fund’s shares, to decline.

Money Market Funds


n	A Fund does not anticipate realizing any long-term capital gains.
n	Because a Fund expects to maintain a stable net asset value of $1.00 per share, investors should not have any gain or loss on sale or exchange of Fund shares.

Real Estate Funds


n	Dividends paid to shareholders from the Funds’ investments in U.S. REITs generally will not qualify for taxation at long-term capital gain rates applicable to qualified dividend income.


n	The Fund may derive “excess inclusion income” from certain equity interests in mortgage pooling vehicles either directly or through an investment in a U.S. REIT. Please see the SAI for a discussion of the risks and special tax consequences to shareholders in the event the Fund realizes excess inclusion income in excess of certain threshold amounts.


n	The Fund’s foreign shareholders should see the SAI for a discussion of the risks and special tax consequences to them from a sale of a U.S. real property interest by a REIT in which the Fund invests.

Invesco Balanced-Risk Allocation Fund, Invesco Balanced-Risk Commodity Strategy Fund and Invesco Commodities Strategy Fund


n	The Funds’ strategies of investing in derivatives and financially-linked instruments whose performance is expected to correspond to the fixed income, equity and commodity markets may cause the Funds to recognize more ordinary income and short-term capital gains taxable as ordinary income than would be the case if the Funds invested directly in debt instruments, stocks and commodities.

Invesco Emerging Market Local Currency Debt Fund

Payments to Financial Intermediaries

A-14 The Invesco Funds

Important Notice Regarding Delivery of Security Holder Documents

A-15 The Invesco Funds

Obtaining Additional Information

If you have questions about an Invesco Fund or your account, or you wish to obtain a free copy of the Fund’s current SAI, annual or semi-annual reports or Form N-Q, please contact us.


By Mail:		Invesco Investment Services, Inc. P.O. Box 219078, Kansas City, MO 64121-9078

By Telephone:		(800) 959-4246

On the Internet:		You can send us a request by e-mail or download prospectuses, SAIs, annual or semi-annual reports via our Web site: www.invesco.com/us





Invesco U.S. Government Fund
SEC 1940 Act file number: 811-05686


invesco.com/us GOV-PRO-1

Fund Summaries

INVESCO DYNAMICS FUND

Investment Objective(s)

The Fund’s investment objective is long-term growth of capital.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.55	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.17

Total Annual Fund Operating Expenses		0.72

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	74	$	230	$	401	$	894

Principal Investment Strategies of the Fund

The Fund invests primarily in equity securities of mid-capitalization issuers.

The Fund may invest up to 25% of its total assets in foreign securities.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Principal Risks of Investing in the Fund

Active Trading Risk . The Fund engages in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Performance Information

The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not

1 Invesco Investment Securities Funds

necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 7.61%

Best Quarter (ended December 31, 2001): 30.80%

Worst Quarter (ended September 30, 2001): -34.91%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares: Inception (5/22/2000)
Return Before Taxes		23.99	%		4.54	%		-0.21	%
Return After Taxes on Distributions		23.99			4.54			-0.21
Return After Taxes on Distributions and Sale of Fund Shares		15.59			3.91			-0.18

S&P 500 ^® Index (reflects no deduction for fees, expenses or taxes)		15.08			2.29			1.42

Russell Midcap ^® Growth Index (reflects no deduction for fees, expenses or taxes)		26.38			4.88			3.12

Lipper Mid-Cap Growth Funds Index		25.66			6.22			2.59

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO GLOBAL REAL ESTATE FUND

Investment Objective(s)

The Fund’s investment objective is total return through growth of capital and current income.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None

Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 31 days of purchase)		2.00	%



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.74	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.17

Total Annual Fund Operating Expenses		0.91

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

2 Invesco Investment Securities Funds

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	93	$	290	$	504	$	1,120

Principal Investment Strategies of the Fund

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

3 Invesco Investment Securities Funds

companies, and their shares may be more volatile and less liquid. The value of investments in real estate related companies may be affected by the quality of management, the ability to repay loans, the utilization of leverage and financial covenants related thereto, whether the company carries adequate insurance and environmental factors. If a real estate related company defaults, the Fund may own real estate directly, which involves the following additional risks: environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Performance Information

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 1.99%

Best Quarter (ended June 30, 2009): 29.88%

Worst Quarter (ended December 31, 2008): -29.37%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			Since
	Year			Years			Inception

Institutional Class shares: Inception (4/29/2005)
Return Before Taxes		17.69	%		2.78	%		5.45	%
Return After Taxes on Distributions		15.93			1.23			3.96
Return After Taxes on Distributions and Sale of Fund Shares		11.66			1.61			3.94

MSCI World Index ^SM : Inception (4/30/05)		11.76			2.43			4.40

FTSE EPRA/NAREIT Developed Real Estate Index: Inception (4/30/2005) (reflects no deduction for fees, expenses or taxes)		20.40			2.88			5.50

Lipper Global Real Estate Funds Category Average: Inception (04/30/2005)		19.03			1.30			4.09

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Investment Sub-Adviser: Invesco Asset Management Limited


Portfolio Managers	Title	Length of Service on the Fund

Joe Rodriguez, Jr.	Portfolio Manager (lead)		2005

Mark Blackburn	Portfolio Manager		2005

James Cowen	Portfolio Manager		2008

Paul Curbo	Portfolio Manager		2007

Darin Turner	Portfolio Manager		2010

Ping-Ying Wang	Portfolio Manager		2006

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO HIGH YIELD FUND

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

4 Invesco Investment Securities Funds

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None

Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 31 days of purchase)		2.00	%



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.51	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.08

Total Annual Fund Operating Expenses ^1,2		0.59


1		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.
2		Effective June 6, 2011, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed, through at least June 30, 2013 to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding certain items discussed in the SAI) of Institutional Class shares to 0.64% of average daily net assets. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2013.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional	$	60	$	189	$	329	$	738

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities that are determined to be below investment grade quality.

Principal Risks of Investing in the Fund

Interest Rate Risk . Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise

5 Invesco Investment Securities Funds

as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics, including duration.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 3.33%

Best Quarter (ended June 30, 2009): 23.37%

Worst Quarter (ended December 31, 2008): -19.60%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares ¹ : Inception (4/30/2004)
Return Before Taxes		14.46	%		8.53	%		6.84	%
Return After Taxes on Distributions		11.33			5.27			3.43
Return After Taxes on Distributions and Sale of Fund Shares		9.27			5.28			3.65

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index (reflects no deduction for fees, expenses or taxes)		14.94			8.90			9.01

Lipper High Current Yield Bond Funds Index		14.91			6.58			6.67


1		Institutional Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement. The inception date of the Fund’s Class A shares is July 11, 1978.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Peter Ehret	Portfolio Manager (lead)		2001

Darren Hughes	Portfolio Manager		2005

Scott Roberts	Portfolio Manager		2010

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO LIMITED MATURITY TREASURY FUND

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

6 Invesco Investment Securities Funds

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.20	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.21

Total Annual Fund Operating Expenses		0.41

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	42	$	132	$	230	$	518

Principal Investment Strategies of the Fund

The Fund may also invest in derivative instruments such as futures contracts and swap agreements.

The Fund intends to maintain an average weighted maturity of three years or less.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Principal Risks of Investing in the Fund

Active Trading Risk . The Fund engages in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

7 Invesco Investment Securities Funds

compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 0.02%

Best Quarter (ended September 30, 2001): 3.13%

Worst Quarter (ended June 30, 2004): -1.00%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares: Inception (7/13/1987)
Return Before Taxes		1.12	%		3.49	%		3.36	%
Return After Taxes on Distributions		0.86			2.57			2.29
Return After Taxes on Distributions and Sale of Fund Shares		0.89			2.46			2.24

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital 1-2 Year U.S. Government Index (reflects no deduction for fees, expenses or taxes)		1.65			3.92			3.75

Lipper Short U.S. Treasury Funds Category Average		2.06			3.92			3.60

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Scott Case	Portfolio Manager		2009

Brian Schneider	Portfolio Manager		2009

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO MONEY MARKET FUND

Investment Objective(s)

The Fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital and liquidity.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.39	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses ¹		0.16

Total Annual Fund Operating Expenses		0.55


1		Other Expenses are based on estimated amounts for current fiscal year.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

8 Invesco Investment Securities Funds

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	56	$	176	$	307	$	689

Principal Investment Strategies of the Fund

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

Principal Risks of Investing in the Fund

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, you may lose money by investing in the Fund. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:

Counterparty Risk . Many of the instruments that the Fund expects to hold may be subject to the risk that the other party to a contract will not fulfill its contractual obligations.

Liquidity Risk . The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Performance Information

9 Invesco Investment Securities Funds

performance is not necessarily an indication of its future performance. The returns are those of the Fund’s Invesco Cash Reserve Shares which are not offered in this prospectus. Although the Institutional Class shares are invested in the same portfolio of securities, Institutional Class shares returns would have been different as they have different expenses than the Fund’s Invesco Cash Reserve Shares. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.

Annual Total Returns

Invesco Cash Reserve Shares year-to-date (ended March 31, 2011): 0.01%

Best Quarter (ended March 31, 2001): 1.18%

Worst Quarter (ended March 31, 2010): 0.00%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares ¹ : Inception (10/16/1993)		0.03	%		2.14	%		1.84	%


1		The returns shown for these periods are the historical performance of the Fund’s Invesco Cash Reserve Shares at net asset value which reflects the Rule 12b-1 fees applicable to Invesco Cash Reserve Shares. The inception date shown in the table is that of the Fund’s Invesco Cash Reserve Shares. The Institutional Class shares have not commenced operations.

Invesco Cash Reserve Shares’ seven day yield on December 31, 2010, was 0.04%. For the current seven day yield, call (800) 959-4246.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO REAL ESTATE FUND

Investment Objective(s)

The Fund’s investment objective is total return through growth of capital and current income.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.73	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.18

Total Annual Fund Operating Expenses		0.91

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	93	$	290	$	504	$	1,120

10 Invesco Investment Securities Funds

Principal Investment Strategies of the Fund

The Fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate. These issuers include (i) REITs or other real estate operating issuers that (a) own property, (b) make or invest in short term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) issuers whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

The Fund may engage in short sales of securities. A short sale occurs when the Fund sells a security, but does not deliver a security it owns when the sale settles. Instead, it borrows that security for delivery when the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short, if as a result of such short sale, the aggregate market value of all securities sold short exceeds 15% of the Fund’s net assets.

Principal Risks of Investing in the Fund

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Short Sales Risk . Short sales may cause the Fund to repurchase a security at a higher price, causing a loss. As there is no limit on how

11 Invesco Investment Securities Funds

much the price of the security can increase, the Fund’s exposure is unlimited.

Performance Information

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 5.75%

Best Quarter (ended September 30, 2009): 32.16%

Worst Quarter (ended December 31, 2008): -35.56%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares ¹ : Inception (4/30/2004)
Return Before Taxes		23.26	%		3.75	%		12.14	%
Return After Taxes on Distributions		22.35			1.75			10.36
Return After Taxes on Distributions and Sale of Fund Shares		15.08			2.52			10.03

S&P 500 ^® Index (reflects no deduction for fees, expenses or taxes)		15.08			2.29			1.42

FTSE NAREIT All Equity REITs Index (reflects no deduction for fees, expenses or taxes)		27.95			3.03			10.76

Lipper Real Estate Funds Index		23.19			1.83			9.78


1		Institutional Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement. The inception date of the Fund’s Class A shares is December 31, 1996.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Joe Rodriguez, Jr.	Portfolio Manager (lead)		1995

Mark Blackburn	Portfolio Manager		2000

Paul Curbo	Portfolio Manager		2007

Darin Turner	Portfolio Manager		2009

Ping-Ying Wang	Portfolio Manager		2006

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO SHORT TERM BOND FUND

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

12 Invesco Investment Securities Funds



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees		0.35	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.16

Total Annual Fund Operating Expenses ¹		0.51

Fee Waiver and/or Expense Reimbursement ²		0.10

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement		0.41


1		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.
2		Effective June 6, 2011, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed, through at least June 30, 2013 to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding certain items discussed in the SAI) of Institutional Class shares to 0.41% of average daily net assets. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2013.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	42	$	143	$	265	$	621

Principal Investment Strategies of the Fund

The Fund invests under normal circumstances at least 80% of net assets (plus borrowings for investment purposes) in fixed-income securities.

The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration (the Fund’s price sensitivity to changes in interest rates) of less than three years.

The Fund may invest up to 15% of its total assets in foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers then decide on risk factors to use in managing the Fund relative to that benchmark. In doing so, the portfolio managers consider recommendations from a team of specialists in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a different team of specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. The portfolio managers rely on the specialists for adjusting the Fund’s risk exposures and security selection. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

Principal Risks of Investing in the Fund

13 Invesco Investment Securities Funds

in interest rates depending on their individual characteristics, including duration.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 0.72%

Best Quarter (ended June 30, 2009): 3.23%

Worst Quarter (ended September 30, 2008): -5.16%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			Since
	Year			Years			Inception

Institutional Class shares ¹ : Inception (4/30/2004)
Return Before Taxes		3.43	%		2.48	%		2.55	%
Return After Taxes on Distributions		2.47			0.70			1.05
Return After Taxes on Distributions and Sale of Fund Shares		2.22			1.08			1.30

Barclays Capital U.S. Aggregate Index: Inception (8/31/02) (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.17

Barclays Capital 1-3 Year Government/Credit Index: Inception (8/31/02) (reflects no deduction for fees, expenses or taxes)		2.80			4.53			3.67

Lipper Short Investment Grade Debt Funds Index: Inception (8/31/02)		4.55			3.77			3.19


1		Institutional Class shares’ performance shown prior to the inception date is that of Class C shares and includes the 12b-1 fees applicable to Class C shares. Class C shares’ performance reflects any applicable fee waiver and/or or expense reimbursement.The inception date of the Fund’s Class C shares is August 30, 2002.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Chuck Burge	Portfolio Manager		2009

John Craddock	Portfolio Manager		2010

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

14 Invesco Investment Securities Funds

Payments to Broker-Dealers and Other Financial Intermediaries

INVESCO U.S. GOVERNMENT FUND

Investment Objective(s)

The Fund’s investment objective is total return, comprised of current income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.



Shareholder Fees (fees paid directly from your investment)

Class:	Institutional

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None

Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None



Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class:	Institutional

Management Fees ¹		0.37	%

Distribution and/or Service (12b-1) Fees		None

Other Expenses		0.10

Total Annual Fund Operating Expenses ²		0.47


1		Effective June 6, 2011, the Board of Trustees approved a reduced contractual advisory fee schedule for the Fund. Pursuant to the new fee schedule, the Fund’s maximum annual advisory fee rate ranges from 0.50% (for average net assets up to $200 million) to 0.24% (for average net assets over $20.5 billion). Management Fees have been restated to reflect the new fee schedule.
2		“Total Annual Fund Operating Expenses” have been restated and reflect the reorganization of one or more affiliated investment companies into the Fund.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


	1 Year		3 Years		5 Years		10 Years

Institutional Class	$	48	$	151	$	263	$	591

Principal Investment Strategies of the Fund

The Fund invests in securities of all maturities, but will maintain a weighted average effective maturity for the portfolio of between three and ten years.

The portfolio managers utilize an appropriate benchmark index in structuring the portfolio. The portfolio managers then decide on risk factors to use in managing the Fund relative to that benchmark. In doing so, the portfolio managers consider recommendations from a team of independent specialists in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a different team of specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. The portfolio managers rely on the specialists for adjusting the Fund’s risk exposures and security selection. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the fund.

Principal Risks of Investing in the Fund

Interest Rate Risk . Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise

15 Invesco Investment Securities Funds

as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics, including duration.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Reinvestment Risk . Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Performance Information

Annual Total Returns

Institutional Class shares year-to-date (ended March 31, 2011): 0.18%

Best Quarter (ended December 31, 2008): 7.34%

Worst Quarter (ended December 31, 2010): -2.11%



Average Annual Total Returns (for the periods ended December 31, 2010)

	1			5			10
	Year			Years			Years

Institutional Class shares ¹ : Inception (4/29/2005)
Return Before Taxes		5.59	%		5.66	%		4.98	%
Return After Taxes on Distributions		4.26			3.85			3.12
Return After Taxes on Distributions and Sale of Fund Shares		3.63			3.76			3.13

Barclays Capital U.S. Aggregate Index (reflects no deduction for fees, expenses or taxes)		6.54			5.80			5.84

Barclays Capital U.S. Government Index (reflects no deduction for fees, expenses or taxes)		5.52			5.45			5.42

Lipper Intermediate U.S. Government Funds Index		6.53			5.78			5.31


1		Institutional Class shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waiver and/or expense reimbursement. The inception date of the Fund’s Class A shares is April 28, 1987.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.

Management of the Fund

Investment Adviser: Invesco Advisers, Inc.


Portfolio Managers	Title	Length of Service on the Fund

Clint Dudley	Portfolio Manager		2009

Brian Schneider	Portfolio Manager		2009

Purchase and Sale of Fund Shares

You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.

The minimum investments for Institutional Class shares for fund accounts are as follows:


	Initial Investment		Additional Investments
Type of Account	Per Fund		Per Fund

Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)		$0		$0

Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)		$10 Million		$0

Banks, trust companies and certain other financial intermediaries		$10 Million		$0

Financial intermediaries and other corporations acting for their own accounts		$1 Million		$0

Foundations or Endowments		$1 Million		$0

Other institutional investors		$1 Million		$0

Defined Benefit Plan		$0		$0

Pooled investment vehicles (e.g., Funds of Funds)		$0		$0

Tax Information

The Fund’s distributions generally are taxable to you as ordinary income, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.

16 Invesco Investment Securities Funds

Payments to Broker-Dealers and Other Financial Intermediaries

Investment Objective(s), Strategies, Risks and Portfolio Holdings

Invesco Dynamics Fund

Objective(s) and Strategies

The Fund’s investment objective is long-term growth of capital. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

The Fund invests primarily in equity securities of mid-capitalization issuers.

The Fund may invest up to 25% of its total assets in foreign securities.

In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Risks

The principal risks of investing in the Fund are:

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco Global Real Estate Fund

Objective(s) and Strategies

The Fund’s investment objective is total return through growth of capital and current income. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

17 Invesco Investment Securities Funds

estate investment trusts (REITs) or other real estate operating companies that (a) own property, (b) make or invest in short term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) companies whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund invests, under normal circumstances, in issuers located in at least three different countries, including the U.S.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

Risks

The principal risks of investing in the Fund are:

18 Invesco Investment Securities Funds

rates may also prompt some issuers to refinance existing debt, which could affect the Fund’s performance.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco High Yield Fund

Objective(s) and Strategies

The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities that are determined to be below investment grade quality.

In selecting securities for the Fund’s portfolio, the portfolio managers focus on junk bonds that they believe have favorable prospects for high current income and the possibility of growth of capital. The portfolio managers conduct a bottom-up fundamental analysis of an issuer before its securities are purchased by the Fund. The fundamental analysis involves an evaluation by a team of credit analysts of an issuer’s financial statements in order to assess its financial condition. The credit analysts also assess the ability of an issuer to reduce its leverage (i.e., the amount of borrowed debt).

The portfolio managers attempt to control the Fund’s risk by (i) limiting the portfolio’s assets that are invested in any one security, and (ii) diversifying the portfolio’s holdings over a number of different industries. Although the Fund is actively managed, it is reviewed regularly against its benchmark index (the Barclays Capital U.S. Corporate High Yield Index) and its peer group index (the Lipper High Current Yield Bond Funds Index) to assess the portfolio’s relative risk and its positioning.

The portfolio managers will consider selling a security if (1) there appears to be deterioration in a security’s risk profile, or (2) they determine that other securities offer better value.

Risks

The principal risks of investing in the Fund are:

19 Invesco Investment Securities Funds

companies located in those countries to decline. Governments in developing markets may be relatively less stable. The introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, or war may result in adverse volatility in the prices of securities or currencies. Other factors may include additional transaction costs, delays in settlement procedures, and lack of timely information.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco Limited Maturity Treasury Fund

Objective(s) and Strategies

The Fund may also invest in derivative instruments such as futures contracts and swap agreements.

The Fund intends to maintain an average weighted maturity of three years or less.

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In attempting to meet its investment objective, the Fund engages in active and frequent trading of portfolio securities.

Risks

The principal risks of investing in the Fund are:

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco Money Market Fund

Objective(s) and Strategies

The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund will limit investments to those which are First Tier Securities at the time of acquisition.

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Risks

The principal risks of investing in the Fund are:

Industry Focus Risk . To the extent the Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, the Fund’s performance will depend on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco Real Estate Fund

Objective(s) and Strategies

The Fund’s investment objective is total return through growth of capital and current income. The Fund’s investment objective may be changed by the Board of Trustees without shareholder approval.

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The Fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate. These issuers include (i) REITs or other real estate operating issuers that (a) own property, (b) make or invest in short term construction and development mortgage loans, or (c) invest in long-term mortgages or mortgage pools, and (ii) issuers whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

The Fund may invest in non-investment grade debt securities (commonly known as “junk bonds”) of real estate and real estate-related issuers.

The Fund may engage in short sales of securities. A short sale occurs when the Fund sells a security, but does not deliver a security it owns when the sale settles. Instead, it borrows that security for delivery when the sale settles. The Fund may engage in short sales with respect to securities it owns (short sales against the box) or securities it does not own. Generally, the Fund will sell a security short to (1) take advantage of an expected decline in the security price in anticipation of purchasing the same security at a later date at a lower price, or (2) to protect a profit in a security that it owns (short sales against the box). The Fund will not sell a security short, if as a result of such short sale, the aggregate market value of all securities sold short exceeds 15% of the Fund’s net assets.

The Fund uses the benchmark index as a guide in structuring the portfolio, but the Fund is not an index fund.

Risks

The principal risks of investing in the Fund are:

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or sell at a fair price. Credit ratings on junk bonds do not necessarily reflect their actual market value.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco Short Term Bond Fund

Objective(s) and Strategies

The Fund invests under normal circumstances at least 80% of net assets (plus borrowings for investment purposes) in fixed-income securities.

The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration (the Fund’s price sensitivity to changes in interest rates) of less than three years.

The Fund may invest up to 15% of its total assets in foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure.

Risks

The principal risks of investing in the Fund are:

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may reduce its credit rating and possibly its ability to meet its contractual obligations.

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Invesco U.S. Government Fund

Objective(s) and Strategies

The Fund invests in securities of all maturities, but will maintain a weighted average effective maturity for the portfolio of between three and ten years.

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specialist decision makers in positioning the Fund to generate alpha (specific factors affecting the return on investments in excess of the benchmark). The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining the most efficient way (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes. Specialist decision makers employ a bottom-up approach to recommending larger or smaller exposure to specific risk factors. In general specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers rely on these decision makers and market specific specialists for adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology. Portfolio managers retain discretion for deciding how to implement recommended risk positions. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (e.g. duration, yield, curve positioning, sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund.

Risks

The principal risks of investing in the Fund are:

Management Risk . The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.

Portfolio Holdings

A description of the Fund policies and procedures with respect to the disclosure of the Fund portfolio holdings is available in the Fund SAI, which is available at www.invesco.com/us.

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Fund Management

The Adviser(s)

Invesco Asset Management Limited (the Sub-Adviser or Invesco Asset Management) serves as Invesco Global Real Estate Fund’s investment sub-adviser. Invesco Asset Management, an affiliate of the Adviser, is located at 30 Finsbury Square, London EC2A, United Kingdom. The Sub-Adviser is responsible for the Fund’s day-to-day management, including the Fund’s investment decisions and the execution of securities transactions with respect to the Fund.