SCHEDULE
14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities
Exchange Act of 1934 (Amendment
No. )
Filed by the
Co-Registrants
x
Filed by a Party other than the
Registrant
o
Check the appropriate box:
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Preliminary
Proxy Statement
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Confidential,
for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
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x
Definitive
Proxy Statement
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Definitive
Revised Materials
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Soliciting
Material Pursuant to Section 140.14a-12
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INVESCO VAN KAMPEN
MUNICIPAL TRUST
INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK
MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY
MUNICIPALS
INVESCO VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME
TRUST
INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME
TRUST
INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME
TRUST
INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
INVESCO VAN KAMPEN SENIOR INCOME TRUST
INVESCO VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
INVESCO VAN KAMPEN BOND FUND
INVESCO VAN KAMPEN HIGH INCOME TRUST II
(Names of Co-Registrants as Specified in Their Charters)
Payment of Filing Fee (Check the appropriate box):
x
No
fee required.
o
Fee
computed per Exchange Act Rules 14a-6(i)(1) and 0-11.
o
Fee
paid previously with preliminary materials.
Important
Notice To Invesco Van Kampen
Closed-End Fund Shareholders
Questions
&
Answers
Although
we recommend that you read the complete Joint Proxy Statement,
we have provided for your convenience a brief overview of the
issues to be voted on.
Q.
Why is a shareholder meeting being held?
A.
Each
Invesco Van Kampen closed-end fund is traded on a nationally
recognized stock exchange and is required to hold an annual
meeting of shareholders.
Q.
What proposal will be voted on?
A.
You
are being asked to elect nominees for the Board of Trustees.
Q.
Will my vote make a difference?
A.
Yes,
your vote is important and will make a difference no matter how
many shares you own. We encourage all shareholders to
participate in the governance of their funds.
Q.
How does the Board of Trustees recommend that
I vote?
A.
The
Board recommends that you vote FOR ALL of the
nominees on the enclosed proxy card.
Q.
How do I vote my proxy?
A.
You
may cast your vote by mail, phone or internet. To vote by mail,
please mark your vote on the enclosed proxy card and sign, date
and return the card in the postage-paid envelope provided. If
you choose to vote via phone or internet, please refer to the
instructions found on the proxy card accompanying this Joint
Proxy Statement. To vote by phone or internet, you will need the
control number that appears on the proxy card.
Q.
Why does the Joint Proxy Statement list several
closed-end funds?
A.
The
funds have a similar proposal and it is cost effective to have a
joint proxy statement and one meeting.
Q.
Where do I call for more information?
A.
Please
contact us at Invesco Investment Services, Inc.s 24-hour
Automated Investor Line at
1-800-341-2929
Option 1 or on the Internet at www.invesco.com/us.
Please vote on each
issue using blue or black ink to mark an X in one of the boxes
provided on the proxy card.
Election of
Trustees
mark FOR ALL, WITHHOLD or FOR
ALL EXCEPT.
To withhold
authority to vote for any one or more individual nominee(s),
check FOR ALL EXCEPT and write the nominees
name in the line below.
Sign, date and
return the proxy card in the enclosed postage-paid envelope. All
registered owners of an account, as shown in the address, must
sign the card. When signing as attorney, trustee, executor,
administrator, custodian, guardian or corporate officer, please
indicate your full title.
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x
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PLEASE MARK
VOTES AS IN
THIS EXAMPLE
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PROXY
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INVESCO
VAN KAMPEN XXXXX
JOINT
ANNUAL MEETING OF SHAREHOLDERS
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXX
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FOR
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FOR
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ALL
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ALL
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WITHHOLD
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EXCEPT
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1x.
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Authority to vote for the election as Class X Trustees the
nominees named below:
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2.
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To transact such other business as may properly come before
the Meeting.
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XXXXXXXXX, XXXXXXXXX, XXXXXXXXX
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To withhold authority to vote for any one or more
individual nominee check For All Except and write
the nominees name on the line below.
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Please be sure to sign and date this Proxy, Date
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Shareholder sign here Co-owner sign
here
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XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
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SAMPLE
INVESCO VAN KAMPEN
CLOSED-END FUNDS
1555 Peachtree Street, N.E.
Atlanta, Georgia 30309
NOTICE OF
JOINT ANNUAL MEETING OF
SHAREHOLDERS
To Be
Held June 17, 2011
Notice is hereby given to the holders of common shares of
beneficial interest (Common Shares) and, where
applicable, the holders of preferred shares of beneficial
interest (the Preferred Shares) of each of the
Invesco Van Kampen Closed-End Funds listed on Annex A
(the Funds) to the attached Joint Proxy Statement
that the Joint Annual Meeting of Shareholders of the Funds (the
Meeting) will be held at 11 Greenway Plaza, Suite
2500, Houston, Texas
77046-1173,
on June 17, 2011 at 3:00 p.m., for the
following purposes:
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1.
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To elect trustees in the following manner:
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(a)
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With respect to VKI, VCV, VPV and VMV, to elect four
Class III Trustees, three by the holders of Common Shares
of each such Fund and one by the holders of the Preferred Shares
of each such Fund. The elected Class III Trustees will each
serve for a three year term or until a successor shall have been
duly elected and qualified.
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(b)
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With respect to VTA, VLT, VBF, VGM, VTJ, VIM, VTN, VOQ, VKQ, VMO
and VVR, to elect four Class I Trustees, each by the
holders of Common Shares of each such Fund. The elected
Class I Trustees will each serve for a three year term or
until a successor shall have been duly elected and qualified.
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(c)
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With respect to VKL, to elect three Class II Trustees, two
by the holders of the Common Shares of such Fund and one by the
holders of the preferred shares of such Fund. The elected
Class II Trustees will each serve for a three year term or
until a successor shall have been duly elected
and qualified.
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2.
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To transact such other business as may properly come before the
Meeting or any adjournments thereof.
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Please see Annex A for a listing of each Funds ticker
symbols referenced above. Holders of record of the Common Shares
and, where applicable, Preferred Shares, of each Fund at the
close of business on May 5, 2011 are entitled to notice of
and to vote at the Meeting and any adjournment thereof.
By order of the Board of Trustees
John M. Zerr,
Senior Vice President, Secretary and
Chief Legal Officer
May 16, 2011
Each Fund will furnish, without charge, a copy of its most
recent annual report (and the most recent semiannual report
succeeding the annual report, if any) to any shareholder upon
request. Any such request should be directed to the respective
Fund by calling 1-800-341-2929 Option 2 or by writing to the
respective Fund at 11 Greenway Plaza, Suite 2500, Houston,
Texas
77046-1173.
Shareholders of the Funds are invited to attend the Meeting
in person. If you do not expect to attend the Meeting, please
indicate your voting instructions on the enclosed proxy card
with respect to each Fund in which you were a shareholder as of
the record date, date and sign such proxy card(s), and return it
(them) in the envelope provided, which is addressed for your
convenience and needs no postage if mailed in the
United States, or record your voting instructions by
telephone or via the internet.
In order to avoid the additional expense of further
solicitation, we ask that you mail your proxy cards(s) or record
your voting instructions by telephone or via the internet
promptly.
The Board of Trustees of each Fund recommends that you cast your
vote:
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FOR ALL
of the nominees for the Board of Trustees listed
in the Joint Proxy Statement.
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Your vote is important.
Please return your proxy card(s)
or record your voting instructions by
telephone or via the internet promptly
no matter how many shares you own.
JOINT PROXY STATEMENT
INVESCO VAN KAMPEN
CLOSED-END FUNDS
1555 Peachtree Street, N.E.
Atlanta, Georgia 30309
JOINT ANNUAL MEETING OF
SHAREHOLDERS
June 17, 2011
INTRODUCTION
This Joint Proxy Statement is furnished in connection with the
solicitation by the respective Board of Trustees (the
Trustees or the Board) of each of the
Invesco Van Kampen Closed-End Funds listed on
Annex A to this Joint Proxy Statement (the
Funds) of proxies to be voted at a Joint Annual
Meeting of Shareholders of the Funds, and all adjournments
thereof (the Meeting), to be held at 11 Greenway
Plaza, Suite 2500, Houston, Texas
77046-1173,
on June 17, 2011, at 3:00 p.m. The Meeting will be an
annual meeting for each Fund. The approximate mailing date of
this Joint Proxy Statement and accompanying form of proxy is
May 16, 2011.
Participating in the Meeting are holders of common shares of
beneficial interest (the Common Shares) and, where
applicable, the holders of preferred shares of beneficial
interest (the Preferred Shares), of each of the
Funds as set forth in Annex A to this Joint Proxy
Statement. The Common Shares and the Preferred Shares of the
Funds sometimes are referred to herein collectively as the
Shares. The Meeting is scheduled as a joint meeting
of the shareholders of the Funds because the shareholders of the
Funds are expected to consider and vote on similar matters. The
Board has determined that the use of a joint proxy statement for
the Meeting is in the best interest of the shareholders of each
of the Funds. In the event that a shareholder of any Fund
present at the Meeting objects to the holding of a joint meeting
and moves for an adjournment of the meeting of such Fund to a
time immediately after the Meeting so that such Funds
meeting may be held separately, the persons named as proxies
will vote in favor of the adjournment.
Annex A lists the abbreviated name and stock symbol by
which the Funds sometimes are referred to in this Joint Proxy
Statement. Please refer to Annex A for any questions you
may have regarding whether your Fund is participating at the
Meeting, defined terms relating to the Funds and abbreviated
Fund names.
The Board has fixed the close of business on May 5, 2011 as
the record date (the Record Date) for the
determination of holders of Shares of each Fund entitled to vote
at the Meeting. The number of issued and outstanding Common
Shares and Preferred
Shares of each Fund as of the Record Date is shown in
Annex B to this Joint Proxy Statement.
The following table summarizes the proposals to be presented at
the Meeting and the shareholders entitled to vote with respect
to the proposals.
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Proposal/Funds
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Voting Shareholders
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1.
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Election of Trustees:
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(a)
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With respect to VKI, VCV, VPV and VMV, to elect
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three Class III Trustees, each by holders of
Common Shares of each such Fund
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Common
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one Class III Trustee by holders of Preferred
Shares of each such Fund
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Preferred
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(b)
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With respect to VTA, VLT, VBF, VGM, VTJ, VIM, VTN, VOQ VKQ, VMO
and VVR, to elect
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four Class I Trustees, each by holders of
Common Shares of each such Fund
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Common
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(c)
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With respect to VKL, to elect
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two Class II Trustees, each by holders of
Common Shares of such Fund
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Common
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one Class II Trustee by holders of Preferred Shares
of such Fund
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Preferred
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Each Fund will furnish, without charge, a copy of its most
recent annual report (and the most recent semiannual report
succeeding the annual report, if any) to any shareholder upon
request. Any such request should be directed to the respective
Fund by calling 1-800-341-2929 Option 2 or by writing to the
respective Fund at 11 Greenway Plaza, Suite 2500,
Houston,
Texas 77046-1173.
Voting
Shareholders of a Fund on the Record Date are entitled to one
vote per Share with respect to any proposal submitted to the
shareholders of the Fund, with no Share having cumulative voting
rights. The voting requirement for passage of a particular
proposal depends on the nature of the proposal.
With respect to Proposal 1(a) through (c), holders of
Common Shares and Preferred Shares, where applicable, will vote
as separate classes for the respective nominee(s) to be elected
by such class of Shares. The affirmative vote of a plurality of
the Common Shares of a Fund present at the Meeting in person or
by proxy is required to elect each nominee for Trustee of such
Fund designated to be elected by the holders of the Common
Shares of such Fund. The affirmative vote of a plurality of the
Preferred Shares of a Fund present at the Meeting in person or
by proxy is required to elect such nominee for Trustee of such
Fund designated to be elected by the holders of the Preferred
Shares of such Fund. Election by plurality means those persons
who receive the highest number of votes cast FOR up
to the total number of persons to be elected as Trustees at the
Meeting shall be elected.
2
The Board of Trustees of each Fund recommends that you cast
your vote
FOR ALL
of the nominees for the Board of
Trustees listed in the Joint Proxy Statement.
An unfavorable vote on a proposal by the shareholders of one
Fund will not affect the implementation of such proposal by
another Fund if the proposal is approved by the shareholders of
the other Fund. An unfavorable vote on a proposal by the
shareholders of a Fund will not affect such Funds
implementation of other proposals that receive a favorable vote.
There is no cumulative voting with respect to the election
of Trustees.
All Shares represented by properly executed proxies received
prior to the Meeting will be voted at the Meeting in accordance
with the instructions marked thereon. Proxies received prior to
the Meeting on which no vote is indicated will be voted
FOR each proposal as to which they are entitled to
be voted. Abstentions and broker non-votes (i.e., where a
nominee, such as a broker, holding shares for beneficial owners
responds but does not vote on a proposal because the nominee
lacks beneficial owner direction or does not exercise
discretionary authority) are not treated as votes
FOR a proposal. With respect to Proposal 1(a)
through (c), abstentions and broker
non-votes
are disregarded since only votes FOR are considered
in a plurality voting requirement. A majority of the
outstanding Shares of a Fund entitled to vote must be present in
person or by proxy to have a quorum for such Fund to conduct
business at the Meeting. Abstentions and broker non-votes will
be deemed present for quorum purposes.
Shareholders who execute proxies may revoke them at any time
before they are voted by filing with the respective Fund a
written notice of revocation, by delivering a duly executed
proxy bearing a later date or by attending the Meeting and
voting in person.
The Funds know of no business other than that mentioned in
Proposal 1 of the Notice that will be presented for
consideration at the Meeting. If any other matters are properly
presented, it is the intention of the persons named on the
enclosed proxy to vote proxies in accordance with their best
judgment. In the event a quorum is present at the Meeting but
sufficient votes to approve any of the proposals with respect to
one or more Funds or proposals are not received, proxies
(including abstentions and broker non-votes) would be voted in
favor of one or more adjournments of the Meeting of the
concerned Fund with respect to such proposal to permit further
solicitation of proxies, provided they determine that such an
adjournment and additional solicitation is reasonable and in the
interest of shareholders based on a consideration of all
relevant factors, including the nature of the relevant proposal,
the percentage of votes then cast, the percentage of negative
votes then cast, the nature of the proposed solicitation
activities and the nature of the reasons for such
further solicitation.
Investment
Adviser
The investment adviser for each Fund is Invesco Advisers, Inc.
(the Adviser). The Adviser is a wholly owned
subsidiary of Invesco Ltd. On April 16, 2010, shareholders
of each of the Funds approved a new investment advisory
agreement with the Adviser,
3
which became effective on June 1, 2010, the closing date
(the Closing Date) of the transaction between Morgan
Stanley and Invesco Ltd., whereby Morgan Stanley sold
substantially all of its retail asset management business,
including Van Kampen Investments Inc. to Invesco Ltd. The
Adviser is located at 1555 Peachtree Street, N.E., Atlanta,
Georgia 30309. The Adviser, as successor in interest to multiple
investment advisers, has been an investment adviser since 1976.
Investment
Sub-Advisers
The Adviser has entered into a
sub-advisory
agreement (the Sub-Advisory Agreement) with certain
affiliates to serve as
sub-advisers
to the Funds, pursuant to which these affiliated
sub-advisers
may be appointed by the Adviser from time to time to provide
discretionary investment management services, investment advice,
and/or
order
execution services to the Funds. These affiliated
sub-advisers,
each of which is a registered investment adviser under the
Investment Advisers Act of 1940 are:
Invesco Asset Management Deutschland GmbH;
Invesco Asset Management Ltd.;
Invesco Asset Management (Japan) Limited;
Invesco Australia Limited;
Invesco Hong Kong Limited;
Invesco Senior Secured Management, Inc.; and
Invesco Trimark Ltd. (each a
Sub-Adviser
and collectively, the
Sub-Advisers).
The Sub-Advisers are indirect wholly owned subsidiaries of
Invesco Ltd.
VTAs investment subadviser is Avenue Europe International
Management, L.P. (the VTA Subadviser), a part of
Avenue Capital Group, which is comprised of three registered
investment advisers, including the VTA Subadviser. On
April 16, 2010, shareholders of VTA approved a new
investment subadvisory agreement with Avenue Europe
International, L.P., which became effective on the Closing Date.
The Adviser allocates a portion of VTAs assets to be
invested by the VTA Subadviser based upon market conditions and
the attractiveness of available investment opportunities in
European investments. The VTA Subadviser, located at 535 Madison
Avenue, New York, New York 10022, has experience managing
investment portfolios and private investment funds not
registered under the Investment Company Act of 1940 (the
1940 Act).
Other
Service Providers
Each Fund has entered into a master administrative services
agreement with the Adviser. The principal business address of
the Adviser is 1555 Peachtree Street, N.E., Atlanta, Georgia
30309. VVR has also entered into an additional administration
agreement with the Adviser. Each Fund, except VVR and VKL, has
entered into a support services agreement with Invesco
Investment Services, Inc. The principal business address of
Invesco Investment Services, Inc. is 11 Greenway Plaza, Suite
2500, Houston, Texas
77046-1173.
4
PROPOSAL 1: ELECTION OF TRUSTEES
Trustees are to be elected by the shareholders at the Meeting in
the following manner:
(a) With respect to VKI, VCV, VPV and VMV, four
Class III Trustees are to be elected at the Meeting, to
serve until the later of each such Funds annual meeting of
shareholders in 2014 or until their successors have been duly
elected and qualified. Holders of Common Shares, voting as a
separate class, will vote with respect to three Class III
Trustees (R. Craig Kennedy, Jack E. Nelson and Colin D. Meadows)
designated to be elected by such class of shares. Holders of
Preferred Shares, voting as a separate class, will vote with
respect to one Class III Trustee (Hugo F. Sonnenschein)
designated to be elected by such class of shares. An affirmative
vote of a plurality of the Common Shares or a plurality of the
Preferred Shares, as applicable, of each such Fund is required
to elect the respective nominees. It is the intention of the
persons named in the enclosed proxy to vote the Shares
represented by them for the election of the respective nominees
listed unless the proxy is marked otherwise.
(b) With respect to VTA, VLT, VBF, VGM, VTJ, VIM, VTN, VOQ,
VKQ, VMO and VVR, four Class I Trustees are to be elected
at the Meeting, to serve until the later of each such
Funds annual meeting of shareholders in 2014 or until a
successor has been duly elected and qualified. Holders of Common
Shares, voting as a separate class, will vote with respect to
four Class I Trustees (David C. Arch, Howard J Kerr, Jerry
Choate and Suzanne Woolsey) designated to be elected by such
class of shares. An affirmative vote of a plurality of the
Common Shares of each such Fund is required to elect the
respective nominees. It is the intention of the persons named in
the enclosed proxy to vote the Shares represented by them for
the election of the respective nominees listed unless the proxy
is marked otherwise.
(c) With respect to VKL, three Class II Trustees are
to be elected at the Meeting, to serve until the later of such
Funds annual meeting of shareholders in 2014 or until a
successor has been duly elected and qualified. Holders of Common
Shares, voting as a separate class, will vote with respect to
two Class II Trustees (Wayne W. Whalen and Rod Dammeyer)
designated to be elected by such class of shares. Holders of
Preferred Shares, voting as a separate class, will vote with
respect to one Class II Trustee (Linda Hutton Heagy)
designated to be elected by such class of shares. Previously,
Linda Hutton Heagy had been designated to be elected by holders
of Common Shares and Rod Dammeyer had been designated to be
elected by holders of Preferred Shares. The Board of VKL has
designated Linda Hutton Heagy to stand for election by holders
of Preferred Shares at the Meeting and Rod Dammeyer to
stand for election by holders of Common Shares at the Meeting.
An affirmative
5
vote of a plurality of the Common Shares or a plurality of the
Preferred Shares, as applicable, of such Fund is required to
elect the respective nominees. It is the intention of the
persons named in the enclosed proxy to vote the Shares
represented by them for the election of the respective nominees
listed unless the proxy is marked otherwise.
As in the past, only one class of Trustees is being submitted to
shareholders of each Fund for election at the Meeting. The
Declaration of Trust of each Fund provides that the Board of
Trustees shall consist of Trustees divided into three classes,
the classes to be as nearly equal in number as possible. For
each Fund, the Trustees of only one class are elected at each
annual meeting so that the regular term of only one class of
Trustees will expire annually and any particular Trustee stands
for election only once in each
three-year
period. This type of classification may prevent replacement of a
majority of Trustees of a Fund for up to a
two-year
period. The foregoing is subject to the provisions of the 1940
Act, applicable state law based on the state of organization of
each Fund, each Funds Declaration of Trust and each
Funds Bylaws.
6
INFORMATION REGARDING TRUSTEES
The business and affairs of the Funds are managed under the
direction of the Board of Trustees. The tables below list the
incumbent Trustees, their principal occupations, other
directorships held by them and their affiliations, if any, with
the Adviser or its affiliates. The term Fund Complex
includes each of the investment companies advised by the Adviser
as of the Record Date. Trustees of the Funds generally serve
three year terms or until their successors are duly elected
and qualified. All nominees have consented to being named in
this Joint Proxy Statement and have agreed to serve
if elected.
Independent
Trustees:
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Number of
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Term of
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Funds in
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Office and
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Fund
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Position(s)
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Length of
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Complex
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Other Directorships
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Name, Age and Address
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Held with
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Time
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Principal Occupation(s)
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Overseen
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Held by Trustee
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of Trustee
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Funds
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Served
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During the Past Five Years
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by Trustee
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During the Past Five Years
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David C.
Arch
1
(65)
Blistex Inc.
1800 Swift Drive
Oak Brook, IL 60523
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Trustee
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Chairman and Chief Executive Officer of Blistex Inc., a consumer
health care products manufacturer.
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227
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Trustee/Managing General Partner of funds in the Fund Complex.
Member of the Heartland Alliance Advisory Board, a nonprofit
organization serving human needs based in Chicago. Board member
of the Illinois Manufacturers Association. Member of the
Board of Visitors, Institute for the Humanities, University of
Michigan.
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7
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Number of
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Term of
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Funds in
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Office and
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Fund
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Position(s)
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Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Jerry D.
Choate
1
(72)
33971 Selva Road
Suite 130
Dana Point, CA 92629
|
|
Trustee
|
|
|
|
From 1995 to 1999, Chairman and Chief Executive Officer of the
Allstate Corporation (Allstate) and Allstate
Insurance Company. From 1994 to 1995, President and Chief
Executive Officer of Allstate. Prior to 1994, various management
positions at Allstate.
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Director since 1998 and member of the governance and nominating
committee, executive committee, compensation and management
development committee and equity award committee, of Amgen Inc.,
a biotechnological company. Director since 1999 and member of
the nominating and governance committee and compensation and
executive committee, of Valero Energy Corporation, a crude oil
refining and marketing company. Previously, from 2006 to 2007,
Director and member of the compensation committee and audit
committee, of H&R Block, a tax preparation services company.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rod
Dammeyer
2,4
(70)
CAC, LLC
4350 LaJolla Village Drive
Suite 320
San Diego, CA 92122-1243
|
|
Trustee
|
|
|
|
President of CAC, LLC, a private company offering capital
investment and management advisory services. Prior to 2001,
Managing Partner at Equity Group Corporate Investments. Prior to
1995, Chief Executive Officer of Itel Corporation. Prior to
1985, experience includes Senior Vice President and Chief
Financial Officer of Household International, Inc, Executive
Vice President and Chief Financial Officer of Northwest
Industries, Inc. and Partner of Arthur Andersen & Co.
|
|
|
227
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Director of Quidel Corporation and Stericycle, Inc. Prior to
May 2008, Trustee of The Scripps Research Institute. Prior
to February 2008, Director of Ventana Medical Systems, Inc.
Prior to April 2007, Director of GATX Corporation. Prior to
April 2004, Director of TheraSense, Inc. Prior to January 2004,
Director of TeleTech Holdings Inc. and prior to 2002, Director
of Arris Group, Inc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Linda Hutton
Heagy
2,4
(62)
4939 South Greenwood
Chicago, IL 60615
|
|
Trustee
|
|
|
|
Prior to June 2008, Managing Partner of Heidrick &
Struggles, the second largest global executive search firm, and
from 2001-2004, Regional Managing Director of U.S. operations at
Heidrick & Struggles. Prior to 1997, Managing Partner of
Ray & Berndtson, Inc., an executive recruiting firm. Prior
to 1995, Executive Vice President of ABN AMRO, N.A., a bank
holding company, with oversight for treasury management
operations including all non-credit product pricing. Prior to
1990, experience includes Executive Vice President of The
Exchange National Bank with oversight of treasury management
including capital markets operations,
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Prior to 2010, Trustee on the University of Chicago Medical
Center Board, Vice Chair of the Board of the YMCA of
Metropolitan Chicago and a member of the Womens Board of
the University of Chicago.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vice President of Northern Trust Company and an Associate at
Price Waterhouse.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
R. Craig
Kennedy
3
(59)
1744 R Street, N.W.
Washington, D.C. 20009
|
|
Trustee
|
|
|
|
Director and President of the German Marshall Fund of the United
States, an independent U.S. foundation created to deepen
understanding, promote collaboration and stimulate exchanges of
practical experience between Americans and Europeans. Formerly,
advisor to the Dennis Trading Group Inc., a managed futures and
option company that invests money for individuals and
institutions. Prior to 1992, President and Chief Executive
Officer, Director and member of the Investment Committee of the
Joyce Foundation, a private foundation.
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Director of First Solar, Inc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Howard J
Kerr
1
(75)
14 Huron Trace
Galena, IL 61036
|
|
Trustee
|
|
|
|
Retired. Previous member of the City Council and Mayor of Lake
Forest, Illinois from 1988 through 2002. Previous business
experience from 1981 through 1996 includes President and Chief
Executive Officer of Pocklington Corporation, Inc., an
investment holding company, President and Chief Executive
Officer of Grabill Aerospace, and President of Custom
Technologies Corporation. United States Naval Officer from 1960
through 1981, with responsibilities including Commanding Officer
of United States Navy destroyers and Commander of
United States Navy Destroyer Squadron Thirty-Three, White
House experience in 1973 through 1975 as military aide to Vice
Presidents Agnew and
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Director of the Lake Forest Bank & Trust. Director of the
Marrow Foundation.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford and Naval Aid to President Ford, and Military Fellow on the
Council of Foreign Relations in 1978-through 1979.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jack E.
Nelson
3
(75)
423 Country Club Drive
Winter Park, FL 32789
|
|
Trustee
|
|
|
|
President of Nelson Investment Planning Services, Inc., a
financial planning company and registered investment adviser in
the State of Florida. President of Nelson Ivest Brokerage
Services Inc., a member of the Financial Industry Regulatory
Authority (FINRA), Securities Investors Protection
Corp. and the Municipal Securities Rulemaking Board. President
of Nelson Sales and Services Corporation, a marketing and
services company to support affiliated companies.
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Hugo F.
Sonnenschein
3,4
(70)
1126 E. 59th Street
Chicago, IL 60637
|
|
Trustee
|
|
|
|
President Emeritus and Honorary Trustee of the University of
Chicago and the Adam Smith Distinguished Service Professor in
the Department of Economics at the University of Chicago. Prior
to July 2000, President of the University of Chicago.
|
|
|
227
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Trustee of the University of Rochester and a member of its
investment committee. Member of the National Academy of
Sciences, the American Philosophical Society and a fellow of the
American Academy of Arts and Sciences.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Suzanne H. Woolsey,
Ph.D.
1
(69)
815 Cumberstone Road
Harwood, MD 20776
|
|
Trustee
|
|
|
|
Chief Communications Officer of the National Academy of Sciences
and Engineering and Institute of Medicine/National Research
Council, an independent, federally chartered policy institution,
from 2001 to November 2003 and Chief Operating Officer from 1993
to 2001. Executive Director of the Commission on Behavioral and
Social Sciences and Education at the National Academy of
Sciences/National Research Council from 1989 to 1993. Prior to
1980, experience includes Partner of Coopers & Lybrand
(from 1980 to 1989), Associate Director of the US Office of
Management and Budget (from 1977 to 1980) and Program Director
of the Urban Institute (from 1975 to 1977).
|
|
|
18
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Independent Director and audit committee chairperson of Changing
World Technologies, Inc., an energy manufacturing company, since
July 2008. Independent Director and member of audit and
governance committees of Fluor Corp., a global engineering,
construction and management company, since January 2004.
Director of Intelligent Medical Devices, Inc., a private company
which develops symptom-based diagnostic tools for viral
respiratory infections. Advisory Board member of ExactCost LLC,
a private company providing activity-based costing for
hospitals, laboratories, clinics, and physicians, since 2008.
Chairperson of the Board of Trustees of the Institute for
Defense Analyses, a federally funded research and development
center, since 2000. Trustee from 1992 to 2000 and 2002 to
present, current chairperson of the finance committee, current
member of the audit committee, strategic growth committee and
executive committee, and former Chairperson of the Board of
Trustees (from 1997 to 1999), of the German Marshall
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund of the United States, a public foundation. Lead Independent
Trustee of the Rocky Mountain Institute, a non-profit energy and
environmental institute; Trustee since 2004. Chairperson of the
Board of Trustees of the Colorado College; Trustee since 1995.
Trustee of California Institute of Technology. Previously,
Independent Director and member of audit committee and
governance committee of Neurogen Corporation from 1998 to 2006;
and Independent Director of Arbros Communications from 2000 to
2002.
|
Interested Trustees:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colin D.
Meadows*
3
(40)
1555 Peachtree Street, N.E.
Atlanta, GA 30309
|
|
Trustee;
President and
Principal
Executive
Officer
|
|
|
|
Senior Managing Director and Chief Administrative Officer of
Invesco, Ltd. since 2006. Chief Administrative Officer of
Invesco Advisers, Inc. Prior to 2006, Senior Vice President of
business development and mergers and acquisitions at GE Consumer
Finance. Prior to 2005, Senior Vice President of strategic
planning and technology at Wells Fargo Bank. From 1996 to 2003,
associate principal with McKinsey & Company, focusing on
the financial services and venture capital industries, with
emphasis in the banking and asset management sectors.
|
|
|
18
|
|
|
None.
|
13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
Term of
|
|
|
|
Funds in
|
|
|
|
|
|
|
|
Office and
|
|
|
|
Fund
|
|
|
|
|
|
Position(s)
|
|
Length of
|
|
|
|
Complex
|
|
|
Other Directorships
|
Name, Age and Address
|
|
Held with
|
|
Time
|
|
Principal Occupation(s)
|
|
Overseen
|
|
|
Held by Trustee
|
of Trustee
|
|
Funds
|
|
Served
|
|
During the Past Five Years
|
|
by Trustee
|
|
|
During the Past Five Years
|
|
Wayne W.
Whalen**
2
(71)
155 North Wacker Drive
Chicago, IL 60606
|
|
Trustee
|
|
|
|
Of Counsel, and prior to 2010, partner in the law firm of
Skadden, Arps, Slate, Meagher & Flom LLP, legal
counsel to certain funds in the Fund Complex.
|
|
|
227
|
|
|
Trustee/Managing General Partner of funds in the Fund Complex.
Director of the Mutual Fund Directors Forum, a nonprofit
membership organization for investment company directors.
Chairman and Director of the Abraham Lincoln Presidential
Library Foundation and Director of the Stevenson Center for
Democracy.
|
1
Designated
as a Class I trustee.
2
Designated
as a Class II trustee.
3
Designated
as a Class III trustee.
|
|
4
|
With respect to Funds with
Preferred Shares outstanding, Mr. Sonnenschein and Ms. Heagy are
elected by the holders of Preferred Shares. With respect to VKL,
Mr. Dammeyer was previously elected by holders of Preferred
Shares; however, the Board of VKL has designated Linda Hutton
Heagy to stand for election by holders of Preferred Shares at
the Meeting and Rod Dammeyer to stand for election by holders of
Common Shares at the Meeting.
|
|
|
*
|
Mr. Meadows is an interested
person (within the meaning of Section 2(a) (19) of the 1940
Act) of the funds in the Fund Complex because he is an officer
of the Adviser. The Board of Trustees of the Funds appointed Mr.
Meadows as Trustee of the Funds effective June 1, 2010.
|
|
**
|
Mr. Whalen is an interested
person (within the meaning of Section 2(a) (19) of the 1940
Act) of certain funds in the fund complex by reason of he and
his firm currently providing legal services as legal counsel to
such funds in the Fund Complex.
|
|
|
Each Trustee generally serves a
three-year term from the date of election. Each Trustee has
served as a Trustee of each respective Fund since the year shown
in Annex C.
|
Board
Qualifications, Diversity and Leadership Structure
The management of the Invesco Van Kampen Funds seeks to provide
investors with disciplined investment teams, a research-driven
culture, careful long-term perspective, and a legacy of
experience. Consistent with these goals, the Board overseeing
the Invesco Van Kampen Funds seeks to provide shareholders with
a highly qualified, highly capable and diverse group of Board
members reflecting the diversity of investor interests
underlying the Invesco Van Kampen Funds and with a diversity of
backgrounds, experience and skills that the Board considers
desirable and necessary to its primary goal
protecting and promoting shareholders interests. While the
Board does not require that its members meet specific
qualifications, the Board has historically sought to recruit and
continues to value individual Board members that add to the
overall diversity of the Board the objective is to
bring varied backgrounds, experience and skills reflective of
the wide range of the shareholder base and provide both
contrasting and complementary skills relative to the other Board
members to best protect and promote shareholders
interests. Board diversity means bringing together different
viewpoints, professional experience, investment experience,
education, and other skills. As can be seen in the individual
biographies above, the Board brings together a wide variety of
business experience (including chairman/chief executive
officer-level and director-level experience, including board
committee experience, of several different types of
organizations); varied public and private investment-related
experience;
not-for-profit
experience; customer service and other back office operations
experience; a wide variety of accounting, finance, legal, and
marketing experience; academic experience; consulting
experience; and government, political and military service
experience. All of this experience together results in important
leadership and management knowledge, skills and perspective that
provide the Board understanding and insight into the operations
of the Funds and add range and depth to the Board. As part of
its governance oversight, the Board conducts an annual
self-effectiveness survey which includes, among other things,
evaluating the Boards (and each committees) agendas,
meetings and materials, conduct of the meetings, committee
structures, interaction with management, strategic planning,
etc., and also includes evaluating the Boards (and each
committees) size, composition, qualifications (including
diversity of characteristics, experience and subject matter
expertise) and overall performance.
The Board evaluates all of the foregoing and does not believe
any single factor or group of factors controls or dominates the
qualifications of any individual trustee or the qualifications
of the trustees as a group. After considering all factors
together, the Board believes that each Trustee is qualified to
serve as a Trustee of the Invesco Van Kampen Funds.
David C. Arch.
Mr. Arch has been a member
of the Board since 1989. The Board believes that
Mr. Archs experience as the chairman and chief
executive officer of a public company and as a member of the
board of several organizations, his service as a
15
Trustee of the Funds and his experience as a director of other
investment companies benefits the Funds.
Jerry D. Choate.
Mr. Choate has been a
member of the Board since 2003. The Board believes that
Mr. Choates experience as the chairman and chief
executive officer of a public company and a director of several
public companies, his service as a Trustee of the Funds and his
experience as a director of other investment companies benefits
the Funds.
Rod Dammeyer.
Mr. Dammeyer has been a
member of the Board since 1989. The Board believes that
Mr. Dammeyers experience in executive positions at a
number of public companies and as a director of several public
companies, his accounting experience, his service as a Trustee
of the Funds and his experience serving as a director of other
investment companies benefits the Funds.
Linda Hutton Heagy.
Ms. Heagy has been a
member of the Board since 2003. The Board believes that
Ms. Heagys experience in executive positions at a
number of bank and trust companies and as a member of the board
of several organizations, her service as a Trustee of the Funds
and her experience serving as a director of other investment
companies benefits the Funds.
R. Craig Kennedy.
Mr. Kennedy has
been a member of the Board since 2003. The Board believes that
Mr. Kennedys experience in executive positions at a
number of foundations, his investment experience, his service as
a Trustee of the Funds and his experience serving as a director
of other investment companies benefits the Funds.
Howard J Kerr.
Mr. Kerr has been a member
of the Board since 1992. The Board believes that
Mr. Kerrs experience in executive positions at a
number of companies, his experience in public service, his
service as a Trustee of the Funds and his experience serving as
a director of other investment companies benefits the Funds.
Jack E. Nelson.
Mr. Nelson has been a
member of the Board since 2003. The Board believes that
Mr. Nelsons experience in executive positions at a
number of companies and as a member of several financial and
investment industry organizations, his service as a Trustee of
the Funds and his experience serving as a director of other
investment companies benefits the Funds.
Hugo F. Sonnenschein.
Mr. Sonnenschein
has been a member of the Board since 1994. The Board believes
that Mr. Sonnenscheins academic experience, his
economic expertise, his experience as a member of the board of
several organizations, his service as a Trustee of the Funds and
his experience as a director of other investment companies
benefits the Funds.
Suzanne H. Woolsey.
Ms. Woolsey has been
a member of the Board since 2003. The Board believes that
Ms. Woolseys experience as a director of numerous
organizations, her service as a Trustee of the Funds and her
experience as a director of other investment companies benefits
the Funds.
16
Colin D. Meadows.
Mr. Meadows has been a
member of the Board since 2010. The Board believes that
Mr. Meadows financial services and asset management
experience benefits the Funds.
Wayne W. Whalen.
Mr. Whalen has been a
member of the Board since 1989. The Board believes that
Mr. Whalens legal experience, his service as a
Trustee of the Funds and his experience as a director of other
investment companies benefits the Funds.
For more information about the backgrounds, experience, and
skills of each Trustee, see the individual biographies above.
The Boards leadership structure consists of a Chairman of
the Board and three standing committees, each described below
(and ad hoc committees when necessary), with each committee
staffed by Independent Trustees and an Independent Trustee as
Committee Chairman. The Chairman of the Board is not the
principal executive officer of the Funds. The Chairman of the
Board is not an interested person (as that term is
defined by the 1940 Act) of the Adviser. However, the Chairman
of the Board is an interested person (as that term
is defined by the 1940 Act) of the Funds for the reasons
described above in the Trustee biographies. The Board, including
the independent trustees, periodically reviews the Boards
leadership structure for the Invesco Van Kampen Funds, including
the interested person status of the Chairman, and has concluded
the leadership structure is appropriate for the Funds. In
considering the chairman position, the Board has considered
and/or
reviewed (i) the Funds organizational documents,
(ii) the role of a chairman (including, among other things,
setting the agenda and managing information flow, running the
meeting and setting the proper tone), (iii) the background,
experience and skills of the Chairman (including his
independence from the Adviser), (iv) alternative structures
(including combined principal executive officer/chairman,
selecting one of the Independent Trustees as chairman
and/or
appointing an independent lead trustee), (v) rule proposals
in recent years that would have required all fund complexes to
have an independent chairman, (vi) the Chairmans past
and current performance, and (vii) the potential conflicts
of interest of the Chairman (and noted their periodic review as
part of their annual self-effectiveness survey and as part of an
independent annual review by the Funds audit committee of
fund legal fees related to such potential conflict). In
conclusion, the Board and the Independent Trustees have
expressed their continuing support of Mr. Whalen as
Chairman.
Board
Role in Risk Oversight
As noted above, the management of the fund complex seeks to
provide investors with disciplined investment teams, a
research-driven culture, careful long-term perspective and a
legacy of experience. Thus, the goal for each fund is attractive
long-term performance consistent with the objectives and
investment policies and risks for such fund, which in turn
means, among other things, good security selection, reasonable
costs and quality shareholder services. An important
sub-component
of delivering this
17
goal is risk management understanding, monitoring
and controlling the various risks in making investment decisions
at the individual security level as well as portfolio management
decisions at the overall fund level. The key participants in the
risk management process of the Funds are each funds
portfolio managers, the Advisers senior management, the
Advisers risk management group, the Advisers
compliance group, the Funds chief compliance officer, and
the various support functions (i.e. the custodian, the
Funds accountants (internal and external), and legal
counsel). While funds are subject to other risks such as
valuation, custodial, accounting, shareholder servicing, etc., a
funds primary risk is understanding, monitoring and
controlling the various risks in making portfolio management
decisions consistent with the funds objective and
policies. The Boards role is oversight of
managements risk management process. At regular quarterly
meetings, the Board reviews Fund performance and factors,
including risks, affecting such performance by fund with the
Advisers senior management, and the Board typically meets
at least once a year with the portfolio managers of each fund.
At regular quarterly meetings, the Board reviews reports showing
monitoring done by the Advisers risk management group, by
the Advisers compliance group, the Funds chief
compliance officer and reports from the Funds support
functions.
Remuneration
of Trustees
The compensation of Trustees and executive officers that are
affiliated persons (as defined in 1940 Act) of the Adviser is
paid by the respective affiliated entity. The Funds pay the
non-affiliated Trustees an annual retainer and meeting fees for
services to such funds.
Each Trustee has served as a member of each Funds Board of
Trustees since the year of such Trustees appointment or
election as set forth on Annex C to this
Proxy Statement.
Additional information regarding compensation and benefits for
Trustees is set forth below. As indicated in the notes
accompanying the table, the amounts relate to either the
18
respective Funds most recently completed fiscal year or
the most recently completed calendar year ended
December 31, 2010.
Compensation
Table
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Funds
|
|
|
|
|
|
|
Aggregate
|
|
|
|
|
|
|
|
|
Estimated
|
|
|
|
|
|
|
Aggregate
|
|
Maximum
|
|
|
|
|
|
|
Pension or
|
|
Annual
|
|
Total
|
|
|
|
|
Retirement
|
|
Benefits from
|
|
Compensation
|
|
|
|
|
Benefits
|
|
the Fund
|
|
from
|
|
|
Aggregate
|
|
Accrued as
|
|
Complex
|
|
Invesco
|
|
|
Compensation
|
|
Part of
|
|
Upon
|
|
Van Kampen
|
Name
|
|
from Each Fund
(1)
|
|
Expenses
(2)(3)
|
|
Retirement
(2)(3)
|
|
Funds
(4)
|
|
Independent Trustees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
David C. Arch
|
|
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(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
$
|
161,332
|
|
Jerry D. Choate
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
Rod Dammeyer
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
Linda Hutton Heagy
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
R. Craig Kennedy
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
Howard J Kerr
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
Jack E. Nelson
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
143,999
|
|
Hugo F. Sonnenschein
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
143,999
|
|
Suzanne H. Woolsey
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
143,999
|
|
Interested Trustees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colin D. Meadows
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
0
|
|
Wayne W. Whalen
|
|
|
(1)
|
|
|
|
None
|
|
|
|
None
|
|
|
|
161,332
|
|
|
|
(1)
|
The amount of aggregate
compensation payable by each Fund is shown in Annex D.
|
|
(2)
|
The Funds do not accrue or pay
retirement or pension benefits to Trustees as of the date of
this proxy statement.
|
|
(3)
|
Prior to June 1, 2010, the
Board of the Funds and the Boards of many of other funds
formerly advised by Van Kampen Asset Management had the same
members in common across all such Boards, and the Boards had
common director/trustee compensation and benefit arrangements,
including deferred compensation plans and retirement plans,
across all of the Boards and their respective underlying funds.
The Boards of most of the other funds formerly advised by Van
Kampen Asset Management changed and in connection with these
changes, among other things, the Funds terminated their deferred
compensation plan and retirement plan and paid out the amounts
deferred
and/or
accrued on the Funds books through the date of such
termination and additional amounts not accrued to date in the
amount of the net present value of the benefits the Board
members would have received had they served until their normal
retirement date on all such funds plus an amount equal to taxes
on such payment. Such additional amounts payable to any Board
members were not borne by the Funds shareholders.
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|
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(4)
|
The amounts shown in this column
represent the aggregate compensation paid by all of the funds in
the Fund Complex as of December 31, 2010. Because the
|
19
|
|
|
|
|
funds in the Fund Complex have
different fiscal year ends, the amounts shown in this column are
presented on a calendar year basis.
|
Board
Committees and Meetings
Each Funds Board of Trustees has three standing committees
(an audit committee, a brokerage and services committee and a
governance committee). Each committee is comprised solely of
Independent Trustees, which is defined for purposes
herein as trustees who: (1) are not interested
persons of the Fund as defined by the 1940 Act and
(2) are independent of the respective Fund as
defined by the New York Stock Exchange and Chicago Stock
Exchange listing standards.
Each Boards audit committee consists of
Messrs. Choate and Kennedy and Madame Heagy. In addition to
being Independent Trustees as defined above, each of these
Trustees also meets the additional independence requirements for
audit committee members as defined by the New York Stock
Exchange and Chicago Stock Exchange listing standards. The audit
committee makes recommendations to the Board of Trustees
concerning the selection of each Funds independent
registered public accounting firm, reviews with such independent
registered public accounting firm the scope and results of each
Funds annual audit and considers any comments which the
independent registered public accounting firm may have regarding
each Funds financial statements, accounting records or
internal controls. Each Board of Trustees has adopted a formal
written charter for the audit committee which sets forth the
audit committees responsibilities. The audit committee
charter for each of the Funds is available at
www.invesco.com/us. The audit committee has reviewed and
discussed the financial statements of each Fund with management
as well as with the independent registered public accounting
firm of each Fund, and discussed with the independent registered
public accounting firm the matters required to be discussed
under the Statement of Auditing Standards No. 61. The audit
committee has received the written disclosures and the letter
from the independent registered public accounting firm required
under Independence Standard Board Standard No. 1 and has
discussed with the independent registered public accountants
their independence. Based on this review, the audit committee
recommended to the Board of Trustees of each Fund that each
Funds audited financial statements be included in each
Funds annual report to shareholders for the most recent
fiscal year for filing with the Securities and Exchange
Commission (SEC). Each member of the
Funds audit committee is deemed an audit committee
financial expert.
Each Boards brokerage and services committee consists of
Madame Woolsey and Messrs. Dammeyer and Sonnenschein. The
brokerage and services committee reviews each Funds
allocation of brokerage transactions and soft-dollar practices
and reviews the transfer agency and shareholder servicing
arrangements.
Each Boards governance committee consists of
Messrs. Arch, Kerr and Nelson. In addition to being
Independent Trustees as defined above, each of these Trustees
also
20
meets the additional independence requirements for nominating
committee members as defined by the New York Stock Exchange and
Chicago Stock Exchange listing standards. The governance
committee identifies individuals qualified to serve as
Independent Trustees on the Board and on committees of the
Board, advises the Board with respect to Board composition,
procedures and committees, develops and recommends to the Board
a set of corporate governance principles applicable to the
respective Fund, monitors corporate governance matters and makes
recommendations to the Board, and acts as the administrative
committee with respect to Board policies and procedures,
committee policies and procedures and codes of ethics. The
governance committee charter for each of the Funds, which
includes each Funds nominating policies, is available at
www.invesco.com/us. The Independent Trustees of the respective
Fund select and nominate nominee Independent Trustees for the
respective Fund. While the Independent Trustees of the
respective Fund expect to be able to continue to identify from
their own resources an ample number of qualified candidates for
the Board of Trustees as they deem appropriate, they will
consider nominations from shareholders to the Board. Nominations
from shareholders should be in writing and sent to the
Independent Trustees as described below.
Information regarding the numbers of meetings of the Board,
audit committee, brokerage and services committee and governance
committee of each Fund during each such Funds prior fiscal
year is shown in Annex I. During such fiscal years, each of
the Trustees of such Funds during the period such Trustee served
as a Trustee attended at least 75% of the meetings of the
respective Board of Trustees and all committee meetings thereof
of which such Trustee was a member.
Shareholder
Communications
Shareholders may send communications to each Funds Board
of Trustees. Shareholders should send communications intended
for the Board by addressing the communication directly to the
Board (or individual Board members) and/or otherwise clearly
indicating in the salutation that the communication is for the
Board (or individual Board members) and by sending the
communication to either the applicable Funds office or
directly to such Board member(s) at the address specified for
such Trustee above. Other shareholder communications received by
any Fund not directly addressed and sent to the Board will be
reviewed and generally responded to by management, and will be
forwarded to the Board only at managements discretion
based on the matters contained therein.
Shareholder
Approval
With respect to Proposal 1(a) through (c), the holders of
Common Shares and Preferred Shares, where applicable, voting as
a separate class, will vote on the respective nominees
designated to be elected by such class of shares. The
affirmative vote of a plurality of the Common Shares of each
Fund present at the Meeting in person
21
or by proxy is required to elect each nominee for Trustee
designated to be elected by the Common Shares and, where
applicable, the affirmative vote of a plurality of the Preferred
Shares of each Fund present at the Meeting in person or by proxy
is required to elect each nominee for Trustee designated to be
elected by the Preferred Shares.
The Board of Trustees
recommends a vote FOR ALL of the nominees.
22
OTHER
INFORMATION
Executive
Officers of the Funds
The following information relates to the executive officers of
the Funds other than the President and Principal Executive
Officer. Each officer also serves in the same capacity for all
or a number of the other investment companies advised by the
Adviser or affiliates of the Adviser. The officers of the Funds
are appointed annually by the Trustees and serve for one year or
until their respective successors are chosen and qualified. The
Funds officers receive no compensation from the Funds but
may also be officers or employees of the Adviser or officers of
affiliates of the Adviser and may receive compensation in
such capacities.
|
|
|
Name, Year of Birth
|
|
|
and Position(s) Held
|
|
Principal Occupation(s)
|
with the Trust
|
|
During the Past Five Years
|
|
|
|
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|
|
|
|
|
|
John M. Zerr - 1962
Senior Vice President,
Chief Legal Officer and Secretary
|
|
Director, Senior Vice President, Secretary and General Counsel,
Invesco Management Group, Inc. (formerly known as Invesco Aim
Management Group, Inc.), Van Kampen Investments Inc. and Van
Kampen Exchange Corp., Senior Vice President, Invesco Advisers,
Inc. (formerly known as Invesco Institutional (N.A.), Inc.)
(registered investment adviser); Senior Vice President and
Secretary Invesco Distributors, Inc. (formerly known as Invesco
Aim Distributors, Inc.); Director, Vice President and Secretary,
Invesco Investment Services, Inc. (formerly known as Invesco Aim
Investment Services, Inc.) and IVZ Distributors, Inc. (formerly
known as INVESCO Distributors, Inc.); Director and Vice
President, INVESCO Funds Group, Inc.; Senior Vice President,
Chief Legal Officer and Secretary, The Invesco Funds; Manager,
Invesco PowerShares Capital Management LLC; Director, Secretary
and General Counsel, Van Kampen Asset Management; Director and
Secretary, Van Kampen Advisors Inc.; Secretary and General
Counsel, Van Kampen Funds Inc.; Director, Vice President,
Secretary and General Counsel, Van Kampen Investor Services
Inc.; and Chief Legal Officer, PowerShares Exchange-Traded Fund
Trust, PowerShares Exchange-Traded Fund Trust II,
PowerShares India Exchange-Traded Fund Trust and PowerShares
Actively Managed Exchange-Traded Fund Trust.
|
23
|
|
|
Name, Year of Birth
|
|
|
and Position(s) Held
|
|
Principal Occupation(s)
|
with the Trust
|
|
During the Past Five Years
|
|
|
|
Formerly: Director, Invesco Distributors, Inc. (formerly known
as Invesco Aim Distributors, Inc.); Director, Senior Vice
President, General Counsel and Secretary, Invesco Advisers,
Inc.; Director, Vice President and Secretary, Fund Management
Company; Director, Senior Vice President, Secretary, General
Counsel and Vice President, Invesco Aim Capital Management,
Inc.; Chief Operating Officer and General Counsel, Liberty Ridge
Capital, Inc. (an investment adviser); Vice President and
Secretary, PBHG Funds (an investment company) and PBHG Insurance
Series Fund (an investment company); Chief Operating Officer,
General Counsel and Secretary, Old Mutual Investment Partners (a
broker-dealer); General Counsel and Secretary, Old Mutual Fund
Services (an administrator) and Old Mutual Shareholder Services
(a shareholder servicing center); Executive Vice President,
General Counsel and Secretary, Old Mutual Capital, Inc. (an
investment adviser); and Vice President and Secretary, Old
Mutual Advisors Funds (an investment company).
|
|
|
|
|
|
|
|
|
|
Sheri Morris - 1964
Vice President, Treasurer
and Principal Financial Officer
|
|
Vice President, Treasurer and Principal Financial Officer, The
Invesco Funds; and Vice President, Invesco Advisers, Inc.
(formerly known as Invesco Institutional (N.A.), Inc.)
(registered investment adviser).
|
|
|
|
|
|
|
|
|
|
|
|
Formerly: Vice President, Invesco Advisers, Inc., Invesco Aim
Capital Management, Inc. and Invesco Aim Private Asset
Management, Inc.; Assistant Vice President and Assistant
Treasurer, The Invesco Funds and Assistant Vice President,
Invesco Advisers, Inc., Invesco Aim Capital Management, Inc. and
Invesco Aim Private Asset Management, Inc.
|
|
|
|
|
|
|
|
|
|
Karen Dunn Kelley - 1960
Vice President
|
|
Head of Invescos World Wide Fixed Income and Cash
Management Group; Senior Vice President, Invesco Advisers, Inc.
(formerly known as Invesco Institutional (N.A.), Inc.)
(registered investment adviser); Executive Vice President,
Invesco Distributors, Inc. (formerly known as Invesco Aim
Distributors, Inc.); Senior Vice President, Invesco Management
Group, Inc. (formerly known as Invesco Aim Management Group,
Inc.); and Director, Invesco Mortgage Capital Inc.; Vice
President, The Invesco Funds (other than AIM Treasurers
Series Trust (Invesco Treasurers Series Trust) and
Short-Term Investments Trust); and President and Principal
Executive Officer, The Invesco Funds (AIM Treasurers
Series Trust (Invesco Treasurers Series Trust) and
Short-Term Investments Trust only).
|
|
|
|
|
|
|
|
|
|
|
|
Formerly: Vice President, Invesco Advisers, Inc. (formerly
known as Invesco Institutional (N.A.), Inc.); Director of Cash
Management and Senior Vice President, Invesco Advisers, Inc. and
Invesco Aim Capital Management, Inc.; President and Principal
Executive Officer, Tax-Free Investments Trust; Director and
President, Fund Management Company; Chief Cash Management
Officer, Director of Cash Management, Senior Vice President, and
Managing Director, Invesco Aim Capital Management, Inc.;
Director of Cash Management, Senior Vice President, and Vice
President, Invesco Advisers, Inc. and The Invesco Funds (AIM
Treasurers Series Trust (Invesco Treasurers Series
Trust), Short-Term Investments Trust and Tax-Free Investments
Trust only).
|
24
|
|
|
Name, Year of Birth
|
|
|
and Position(s) Held
|
|
Principal Occupation(s)
|
with the Trust
|
|
During the Past Five Years
|
|
|
|
|
|
|
|
|
|
|
Lance A. Rejsek - 1967
Anti-Money Laundering
Compliance Officer
|
|
Anti-Money Laundering Compliance Officer, Invesco Advisers, Inc.
(formerly known as Invesco Institutional (N.A.), Inc.)
(registered investment adviser); Invesco Distributors, Inc.
(formerly known as Invesco Aim Distributors, Inc.), Invesco
Investment Services, Inc. (formerly known as Invesco Aim
Investment Services, Inc.), The Invesco Funds, PowerShares
Exchange-Traded Fund Trust, PowerShares Exchange-Traded Fund
Trust II, PowerShares India Exchange-Traded Fund Trust and
PowerShares Actively Managed Exchange-Traded Fund Trust.
Formerly: Anti-Money Laundering Compliance Officer, Fund
Management Company, Invesco Advisers, Inc., Invesco Aim Capital
Management, Inc. and Invesco Aim Private Asset Management, Inc.
|
|
|
|
|
|
|
|
|
|
Todd L. Spillane - 1958
Chief Compliance Officer
|
|
Senior Vice President, Invesco Management Group, Inc. (formerly
known as Invesco Aim Management Group, Inc.); Senior Vice
President and Chief Compliance Officer, Invesco Advisers, Inc.
(registered investment adviser) (formerly known as Invesco
Institutional (N.A.), Inc.); Chief Compliance Officer, The
Invesco Funds, PowerShares Exchange-Traded Fund Trust,
PowerShares Exchange-Traded Fund Trust II, PowerShares India
Exchange-Traded Fund Trust and PowerShares Actively Managed
Exchange-Traded Fund Trust, INVESCO Private Capital Investments,
Inc. (holding company), Invesco Private Capital, Inc.
(registered investment adviser) and Invesco Senior Secured
Management, Inc. (registered investment adviser); Vice
President, Invesco Distributors, Inc. (formerly known as Invesco
Aim Distributors, Inc.) and Invesco Investment Services, Inc.
(formerly known as Invesco Aim Investment Services, Inc.)
|
|
|
|
|
|
|
|
|
|
|
|
Formerly: Senior Vice President and Chief Compliance Officer,
Invesco Advisers, Inc. and Invesco Aim Capital Management, Inc.;
Chief Compliance Officer, Invesco Global Asset Management
(N.A.), Inc.; Vice President, Invesco Aim Capital Management,
Inc. and Fund Management Company.
|
25
Shareholder
Information
As of May 5, 2011, to the knowledge of the Funds, no
shareholder owned beneficially more than 5% of a class of a
Funds outstanding Shares except as set forth on Annex H.
As of May 5, 2011, certain Trustees and executive officers
owned, directly or beneficially, the number of Common Shares of
each Fund as set forth in Annex E. Except as indicated on
Annex E, as of May 5, 2011, the Trustees and executive
officers of the Funds individually and as a group owned less
than 1% of the outstanding Shares of each Fund. Trustees and
executive officers who do not own any Common Shares of the Funds
or Funds which are not owned by any Trustee or executive
officers have been omitted from the table in Annex E. As of
May 5, 2011, no Trustees or executive officers owned any
Preferred Shares of the Funds. As of May 5, 2011, each
Trustee beneficially owned equity securities of the Funds and
other funds in the Fund Complex overseen by the Trustees in the
dollar range amounts as specified in Annex F.
Section
16(a) Beneficial Ownership Reporting Compliance
Section 30(f) of the 1940 Act and Section 16(a) of the
Securities Exchange Act of 1934, as amended, require each of the
Funds Trustees, officers, investment adviser, affiliated
persons of the investment adviser and persons who own more than
10% of a registered class of the Funds equity securities
to file forms with the SEC and the New York Stock Exchange
reporting their affiliation with the Fund and reports of
ownership and changes in ownership of Fund Shares. These persons
and entities are required by SEC regulations to furnish the Fund
with copies of all such forms they file. Based on a review of
these forms furnished to each Fund, each Fund believes that
during its last fiscal year, its Trustees, officers, the Adviser
and affiliated persons of the Adviser complied with the
applicable filing requirements except as follows:
(i) two transactions by R. Craig Kennedy, a Trustee of
the Funds, in common shares of Dynamic Credit Opportunities Fund
and (ii) one transaction by R. Craig Kennedy, a
Trustee of the Funds, in common shares of Senior Income Trust
were inadvertantly not filed in a timely manner.
Independent
Registered Public Accounting Firm
The Board of Trustees of each Fund, including a majority of the
Trustees who are not interested persons of any Fund
(as defined by the 1940 Act), appointed, effective June 1,
2010, PricewaterhouseCoopers, LLP (PWC) as the
independent registered public accounting firm of each Fund. Each
Funds independent registered public accounting firm prior
to May 31, 2010 was Deloitte & Touche LLP
(D&T or the Prior Auditor). The
audit committee of each Fund recommended and approved the
decision to change each Funds independent registered
public accounting firm and such decision was approved by each
Funds Board, including a majority of the Trustees who are
not interested persons of any Fund (as defined by
the 1940 Act) in connection with the change in control of the
Funds investment adviser, and Invesco Advisers becoming
26
investment adviser to each Fund (Change in Control).
The Change in Control resulted in the Prior Auditor being
prohibited from being engaged by the Funds as independent
registered public accountants for the Funds fiscal years
ended after May 31, 2010 because of certain business
relationships between the accountants and certain affiliates of
the Funds new investment adviser, Invesco Advisers, or its
affiliated companies that are not permitted under the auditor
independence requirements in
Rule 2-01
of
Regulation S-X.
The Funds Board of Trustees believes that there are
operational efficiencies in having one auditor for all Invesco
Funds.
Concurrent with the effective date of the Change in Control, the
Prior Auditor resigned as the independent registered public
accounting firm of each Fund.
The Prior Auditors report on the financial statements of
each Fund for the past two years did not contain an adverse
opinion or a disclaimer of opinion, and was not qualified or
modified as to uncertainty, audit scope or accounting
principles. During the period the Prior Auditor was engaged,
there were no disagreements with the Prior Auditor on any matter
of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure which would have
caused it to make reference to that matter in connection with
its report for any Fund.
Audit and
Other Fees
Each Fund and certain covered entities were billed
the amounts listed on Annex G by PWC and D&T during
such Funds stub fiscal year ended February 28, 2011
and the two prior fiscal years.
The audit committee of each Board has considered whether the
provision of non-audit services performed by PWC to the Funds
and covered entities is compatible with maintaining
PWCs independence in performing audit services. The audit
committee also is required to pre-approve services to
covered entities to the extent that the services are
determined to have a direct impact on the operations or
financial reporting of the Funds and 100% of such services were
pre-approved by the audit committee pursuant to the audit
committees pre-approval policies and procedures. The
Boards pre-approval policies and procedures are included
as part of the Boards audit committee charter, which is
available at www.invesco.com/us.
It is not expected that representatives of PWC will attend the
Meeting. In the event representatives of PWC do attend the
Meeting, they will have the opportunity to make a statement if
they desire to do so and will be available to answer
appropriate questions.
Expenses
The expenses of preparing, printing and mailing the enclosed
form of proxy, the accompanying Notice and this Proxy Statement,
and all other costs in connection with the solicitation of
proxies will be borne by the Funds. These expenses will be
allocated among each of the Funds in a fair and equitable
manner. The Funds will also reimburse
27
banks, brokers and others for their reasonable expenses in
forwarding proxy solicitation material to the beneficial owners
of the shares of the Funds. In order to obtain the necessary
quorum at the Meeting, additional solicitation may be made by
mail, telephone, facsimile or personal interview by
representatives of the Funds, the Adviser or its affiliates, by
the transfer agent of the Funds and by dealers or their
representatives. The Funds may also retain The Altman Group, a
professional proxy solicitation firm, to assist in additional
proxy solicitation. The estimated cost of solicitation by The
Altman Group is approximately $4,000 per Fund.
Shareholder
Proposals
To be considered for presentation at a shareholders
meeting, rules promulgated by the SEC generally require that,
among other things, a shareholders proposal must be
received at the offices of the relevant Fund a reasonable time
before a solicitation is made. Shareholder proposals intended to
be presented at the year 2012 annual meeting of shareholders for
a Fund pursuant to
Rule 14a-8
under the Exchange Act of 1934, as amended (the Exchange
Act), must be received by the Fund at the Funds
principal executive offices by January 17, 2012. In order
for proposals made outside of
Rule 14a-8
under the Exchange Act to be considered timely
within the meaning of
Rule 14a-4(c)
under the Exchange Act, such proposals must be received by the
Fund at the Funds principal executive offices not later
than April 1, 2012. Timely submission of a proposal does
not necessarily mean that such proposal will be included. Any
shareholder who wishes to submit a proposal for consideration at
a meeting of such shareholders Fund should send such
proposal to the respective Fund at the principal executive
offices of the Fund at 1555 Peachtree Street, N.E., Atlanta,
Georgia 30309, Attn: President.
Important Notice Regarding the Availability of Proxy
Materials for the Meeting to be held on June 17, 2011.
This Joint Proxy Statement is available on the Internet at:
www.proxy-direct.com/IVK22576
General
Management of each Fund does not intend to present and does not
have reason to believe that others will present any other items
of business at the Meeting. However, if other matters are
properly presented to the Meeting for a vote, the proxies will
be voted upon such matters in accordance with the judgment of
the persons acting under the proxies.
A list of shareholders of each Fund entitled to be present and
vote at the Meeting will be available at the offices of the
respective Fund, 11 Greenway Plaza, Suite 2500, Houston, Texas
77046-1173, for inspection by any shareholder during regular
business hours for ten days prior to the date of the Meeting.
Failure of a quorum to be present at the Meeting for any Fund
may necessitate adjournment and may subject such Fund to
additional expense.
28
If you cannot be present in person, you are requested to fill
in, sign and return the enclosed proxy card, for which no
postage is required if mailed in the United States, or
record your voting instructions by telephone or via the internet
promptly.
John M. Zerr,
Senior Vice President, Secretary and
Chief Legal Officer
May 16, 2011
29
ANNEX
A
Invesco
Van Kampen Closed-End Funds
The following list sets forth the Invesco Van Kampen
closed-end investment companies (the Funds)
participating in the Joint Annual Meeting of Shareholders to be
held at 11 Greenway Plaza, Suite 2500, Houston, Texas 77046
on June 17, 2011, at 3:00 p.m. The name in the first
column below is the legal name for each Fund. The name in the
second column is the abbreviated name of each Fund and the
designation in the third column is the stock symbol of each
Fund; the abbreviated name or ticker symbol are sometimes used
to identify a specific Fund in the Joint Proxy Statement. Each
of the Funds has issued common shares of beneficial interest and
such common shares of the Funds are referred to herein as the
Common Shares. Each of the Funds, except VBF, VTA
and VLT, have issued preferred shares of beneficial interest
with a liquidation preference per share as designated in the
fourth column below, and such preferred shares of such Funds are
referred to herein as the Preferred Shares.
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Shares
|
Legal Name
|
|
Abbreviated Name
|
|
Ticker Symbol
|
|
Outstanding
|
|
Invesco Van Kampen Select Sector Municipal Trust
|
|
Select Sector Municipal Trust
|
|
VKL
|
|
Remarketed Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Municipal Trust
|
|
Municipal Trust
|
|
VKQ
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Ohio Quality Municipal Trust
|
|
Ohio Quality Municipal Trust
|
|
VOQ
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
Invesco Van Kampen Trust for Insured Municipals
|
|
Trust for Insured Municipals
|
|
VIM
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Trust for Investment Grade Municipals
|
|
Trust for Investment Grade Municipals
|
|
VGM
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Trust for Investment Grade
New York Municipals
|
|
Trust for Investment Grade
New York Municipals
|
|
VTN
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Trust for Investment Grade New Jersey
Municipals
|
|
Trust for Investment Grade
New Jersey Municipals
|
|
VTJ
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Municipal Opportunity Trust
|
|
Municipal Opportunity Trust
|
|
VMO
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Massachusetts Value Municipal
Income Trust
|
|
Massachusetts Value Municipal Income Trust
|
|
VMV
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen California Value Municipal Income Trust
|
|
California Value Municipal Income Trust
|
|
VCV
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
A-1
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Shares
|
Legal Name
|
|
Abbreviated Name
|
|
Ticker Symbol
|
|
Outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Pennsylvania Value Municipal
Income Trust
|
|
Pennsylvania Value Municipal Income Trust
|
|
VPV
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
Invesco Van Kampen Advantage Municipal Income Trust II
|
|
Advantage Municipal Income Trust II
|
|
VKI
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Senior Income Trust
|
|
Senior Income Trust
|
|
VVR
|
|
Auction Preferred Shares, liquidation preference $25,000 per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Van Kampen Bond Fund
|
|
Bond Fund
|
|
VBF
|
|
None
|
Invesco Van Kampen Dynamic
|
|
Dynamic Credit
|
|
VTA
|
|
None
|
Credit Opportunities Fund
|
|
Opportunities Fund
|
|
|
|
|
Invesco Van Kampen High Income Trust II
|
|
High Income Trust II
|
|
VLT
|
|
None
|
A-2
ANNEX
B
Invesco
Van Kampen Closed-End Funds
The following list sets forth the number of issued and
outstanding Common Shares and Preferred Shares, where
applicable, for each Fund as of May 5, 2011, the Record
Date.
|
|
|
|
|
|
|
|
|
Fund Name
|
|
Common Shares
|
|
|
Preferred Shares
|
|
|
Select Sector Municipal Trust
|
|
|
15,190,715
|
|
|
|
3,354
|
|
Municipal Trust
|
|
|
39,023,857
|
|
|
|
8,450
|
|
Ohio Quality Municipal Trust
|
|
|
5,807,913
|
|
|
|
1,400
|
|
Trust for Insured Municipals
|
|
|
9,686,071
|
|
|
|
2,340
|
|
Trust for Investment Grade Municipals
|
|
|
54,029,864
|
|
|
|
13,936
|
|
Trust for Investment Grade New York Municipals
|
|
|
15,212,202
|
|
|
|
3,480
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
6,066,039
|
|
|
|
1,820
|
|
Municipal Opportunity Trust
|
|
|
33,799,578
|
|
|
|
8,840
|
|
Massachusetts Value Municipal Income Trust
|
|
|
2,705,584
|
|
|
|
690
|
|
California Value Municipal Income Trust
|
|
|
22,113,634
|
|
|
|
5,200
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
23,797,266
|
|
|
|
6,160
|
|
Advantage Municipal Income Trust II
|
|
|
44,282,969
|
|
|
|
10,920
|
|
Senior Income Trust
|
|
|
179,999,900
|
|
|
|
8,000
|
|
Bond Fund
|
|
|
11,335,939
|
|
|
|
None
|
|
Dynamic Credit Opportunities Fund
|
|
|
74,052,532
|
|
|
|
None
|
|
High Income Trust II
|
|
|
3,770,265
|
|
|
|
None
|
|
B-1
ANNEX C
The table below sets forth the
year in which each of the Trustees initially was elected or
appointed to the Board of Trustees of each Fund.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Trustees
|
|
|
Interested Trustees
|
|
Fund
|
|
Arch
|
|
|
Choate
|
|
|
Dammeyer
|
|
|
Heagy
|
|
|
Kennedy
|
|
|
Kerr
|
|
|
Nelson
|
|
|
Sonnenschein
|
|
|
Woolsey
|
|
|
Meadows
|
|
|
Whalen
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Trust (VKQ)
|
|
|
1991
|
|
|
|
2003
|
|
|
|
1991
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1991
|
|
Ohio Quality Municipal Trust (VOQ)
|
|
|
1991
|
|
|
|
2003
|
|
|
|
1991
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1991
|
|
Trust for Insured Municipals (VIM)
|
|
|
1991
|
|
|
|
2003
|
|
|
|
1991
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1991
|
|
Trust for Investment Grade Municipals (VGM)
|
|
|
1991
|
|
|
|
2003
|
|
|
|
1991
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1991
|
|
Municipal Opportunity Trust (VMO)
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1992
|
|
Trust for Investment Grade New Jersey Municipals (VTJ)
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1992
|
|
Trust for Investment Grade New York Municipals (VTN)
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1992
|
|
Advantage Municipal Income Trust II (VKI)
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1993
|
|
California Value Municipal Income Trust (VCV)
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1993
|
|
Massachusetts Value Municipal Income Trust (VMV)
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1993
|
|
Pennsylvania Value Municipal Income Trust (VPV)
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1993
|
|
Select Sector Municipal Trust (VKL)
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1993
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1993
|
|
Senior Income Trust (VVR)
|
|
|
1998
|
|
|
|
2006
|
|
|
|
1998
|
|
|
|
2006
|
|
|
|
2006
|
|
|
|
1998
|
|
|
|
2006
|
|
|
|
1998
|
|
|
|
2006
|
|
|
|
2010
|
|
|
|
1998
|
|
Bond Fund (VBF)
|
|
|
1997
|
|
|
|
2003
|
|
|
|
1997
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1997
|
|
|
|
2003
|
|
|
|
1997
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1997
|
|
Dynamic Credit Opportunities Fund (VTA)
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2007
|
|
|
|
2010
|
|
|
|
2007
|
|
High Income Trust II (VLT)
|
|
|
1989
|
|
|
|
2003
|
|
|
|
1989
|
|
|
|
2003
|
|
|
|
2003
|
|
|
|
1992
|
|
|
|
2003
|
|
|
|
1994
|
|
|
|
2003
|
|
|
|
2010
|
|
|
|
1989
|
|
C-1
ANNEX
D
Aggregate
Compensation from each Fund
Stub
Fiscal Year ended February 28, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Trustees
|
|
|
Interested Trustees
|
|
Fund
|
|
Fiscal
Year
(1)
|
|
|
Arch
|
|
|
Choate
|
|
|
Dammeyer
|
|
|
Heagy
|
|
|
Kennedy
|
|
|
Kerr
|
|
|
Nelson
|
|
|
Sonnenschein
|
|
|
Woolsey
|
|
|
Meadows
|
|
|
Whalen
|
|
Advantage Municipal Income Trust II
|
|
|
10/31/10-2/28/11
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
2,042
|
|
|
$
|
0
|
|
|
$
|
2,042
|
|
California Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
1,198
|
|
|
|
0
|
|
|
|
1,198
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
457
|
|
|
|
0
|
|
|
|
457
|
|
Municipal Opportunity Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
1,783
|
|
|
|
0
|
|
|
|
1,783
|
|
Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
1,902
|
|
|
|
0
|
|
|
|
1,902
|
|
Ohio Quality Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
608
|
|
|
|
0
|
|
|
|
608
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
1,371
|
|
|
|
0
|
|
|
|
1,371
|
|
Select Sector Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
912
|
|
|
|
0
|
|
|
|
912
|
|
Trust for Insured Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
0
|
|
|
|
746
|
|
Trust for Investment Grade Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
2,693
|
|
|
|
0
|
|
|
|
2,693
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
648
|
|
|
|
0
|
|
|
|
648
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
1,011
|
|
|
|
0
|
|
|
|
1,011
|
|
Senior Income Trust
|
|
|
7/31/10-2/28/11
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
4,830
|
|
|
|
0
|
|
|
|
4,830
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31/10-2/28/11
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
4,116
|
|
|
|
0
|
|
|
|
4,116
|
|
Bond Fund
|
|
|
6/30/10-2/28/11
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
1,299
|
|
|
|
0
|
|
|
|
1,299
|
|
High Income Trust II
|
|
|
12/31/10-2/28/11
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
130
|
|
|
|
0
|
|
|
|
130
|
|
|
|
(1)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to
February 28
th
.
|
D-1
Fiscal
Year ended 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Trustees
|
|
|
Interested Trustees
|
|
Fund
|
|
Fiscal
Year-End
(1)
|
|
|
Arch
|
|
|
Choate
|
|
|
Dammeyer
|
|
|
Heagy
|
|
|
Kennedy
|
|
|
Kerr
|
|
|
Nelson
|
|
|
Sonnenschein
|
|
|
Woolsey
|
|
|
Meadows
|
|
|
Whalen
|
|
Advantage Municipal Income Trust II
|
|
|
10/31
|
|
|
$
|
3,815
|
|
|
$
|
4,024
|
|
|
$
|
4,024
|
|
|
$
|
4,024
|
|
|
$
|
4,024
|
|
|
$
|
4,024
|
|
|
$
|
3,815
|
|
|
$
|
3,815
|
|
|
$
|
3,815
|
|
|
$
|
0
|
|
|
$
|
4,024
|
|
California Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
2,211
|
|
|
|
2,331
|
|
|
|
2,331
|
|
|
|
2,331
|
|
|
|
2,331
|
|
|
|
2,331
|
|
|
|
2,211
|
|
|
|
2,211
|
|
|
|
2,211
|
|
|
|
0
|
|
|
|
2,331
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
807
|
|
|
|
849
|
|
|
|
849
|
|
|
|
849
|
|
|
|
849
|
|
|
|
849
|
|
|
|
807
|
|
|
|
807
|
|
|
|
807
|
|
|
|
0
|
|
|
|
849
|
|
Municipal Opportunity Trust
|
|
|
10/31
|
|
|
|
3,317
|
|
|
|
3,499
|
|
|
|
3,499
|
|
|
|
3,499
|
|
|
|
3,499
|
|
|
|
3,499
|
|
|
|
3,317
|
|
|
|
3,317
|
|
|
|
3,317
|
|
|
|
0
|
|
|
|
3,499
|
|
Municipal Trust
|
|
|
10/31
|
|
|
|
3,529
|
|
|
|
3,721
|
|
|
|
3,721
|
|
|
|
3,721
|
|
|
|
3,721
|
|
|
|
3,721
|
|
|
|
3,529
|
|
|
|
3,529
|
|
|
|
3,529
|
|
|
|
0
|
|
|
|
3,721
|
|
Ohio Quality Municipal Trust
|
|
|
10/31
|
|
|
|
1,092
|
|
|
|
1,149
|
|
|
|
1,149
|
|
|
|
1,149
|
|
|
|
1,149
|
|
|
|
1,149
|
|
|
|
1,092
|
|
|
|
1,092
|
|
|
|
1,092
|
|
|
|
0
|
|
|
|
1,149
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
2,526
|
|
|
|
2,662
|
|
|
|
2,662
|
|
|
|
2,662
|
|
|
|
2,662
|
|
|
|
2,662
|
|
|
|
2,526
|
|
|
|
2,526
|
|
|
|
2,526
|
|
|
|
0
|
|
|
|
2,662
|
|
Select Sector Municipal Trust
|
|
|
10/31
|
|
|
|
1,665
|
|
|
|
1,755
|
|
|
|
1,755
|
|
|
|
1,755
|
|
|
|
1,755
|
|
|
|
1,755
|
|
|
|
1,665
|
|
|
|
1,665
|
|
|
|
1,665
|
|
|
|
0
|
|
|
|
1,755
|
|
Trust for Insured Municipals
|
|
|
10/31
|
|
|
|
1,355
|
|
|
|
1,427
|
|
|
|
1,427
|
|
|
|
1,427
|
|
|
|
1,427
|
|
|
|
1,427
|
|
|
|
1,355
|
|
|
|
1,355
|
|
|
|
1,355
|
|
|
|
0
|
|
|
|
1,427
|
|
Trust for Investment Grade Municipals
|
|
|
10/31
|
|
|
|
5,034
|
|
|
|
5,311
|
|
|
|
5,311
|
|
|
|
5,311
|
|
|
|
5,311
|
|
|
|
5,311
|
|
|
|
5,034
|
|
|
|
5,034
|
|
|
|
5,034
|
|
|
|
0
|
|
|
|
5,311
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31
|
|
|
|
1,165
|
|
|
|
1,226
|
|
|
|
1,226
|
|
|
|
1,226
|
|
|
|
1,226
|
|
|
|
1,226
|
|
|
|
1,165
|
|
|
|
1,165
|
|
|
|
1,165
|
|
|
|
0
|
|
|
|
1,226
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31
|
|
|
|
1,851
|
|
|
|
1,952
|
|
|
|
1,952
|
|
|
|
1,952
|
|
|
|
1,952
|
|
|
|
1,952
|
|
|
|
1,851
|
|
|
|
1,851
|
|
|
|
1,851
|
|
|
|
0
|
|
|
|
1,952
|
|
Senior Income Trust
|
|
|
7/31
|
|
|
|
3,673
|
|
|
|
3,945
|
|
|
|
3,945
|
|
|
|
3,945
|
|
|
|
3,945
|
|
|
|
3,945
|
|
|
|
3,673
|
|
|
|
3,673
|
|
|
|
3,673
|
|
|
|
0
|
|
|
|
3,945
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31
|
|
|
|
3,242
|
|
|
|
3,482
|
|
|
|
3,482
|
|
|
|
3,482
|
|
|
|
3,482
|
|
|
|
3,482
|
|
|
|
3,242
|
|
|
|
3,242
|
|
|
|
3,242
|
|
|
|
0
|
|
|
|
3,482
|
|
Bond Fund
|
|
|
6/30
|
|
|
|
687
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
746
|
|
|
|
687
|
|
|
|
687
|
|
|
|
687
|
|
|
|
0
|
|
|
|
746
|
|
High Income Trust II
|
|
|
12/31
|
|
|
|
776
|
|
|
|
819
|
|
|
|
819
|
|
|
|
819
|
|
|
|
819
|
|
|
|
819
|
|
|
|
776
|
|
|
|
776
|
|
|
|
776
|
|
|
|
0
|
|
|
|
819
|
|
|
|
(1)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to
February 28
th
.
|
D-2
ANNEX E
TRUSTEE OWNERSHIP OF COMMON SHARES OF THE FUNDS
The table below indicates the
number of Common Shares of the respective Funds listed below
owned by each Trustee listed below as of May 5, 2011, and
the percentage of such Trustees Common Shares to the total
Common Shares outstanding for such Fund is shown in parenthesis
when such ownership individually exceeds 1% of the total Common
Shares outstanding. Trustees who do not own shares of any Funds
are not included in this table.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Trustees
|
|
Fund
|
|
Choate
|
|
|
Dammeyer
|
|
|
Kennedy
|
|
|
Advantage Municipal Income Trust
II
(1)
|
|
|
2,700
|
|
|
|
672,441
|
|
|
|
0
|
|
California Value Municipal Income Trust
|
|
|
2,700
|
|
|
|
83,682
|
|
|
|
0
|
|
Municipal Opportunity Trust
|
|
|
2,300
|
|
|
|
60,014
|
|
|
|
0
|
|
Municipal Trust
|
|
|
2,400
|
|
|
|
150,084
|
|
|
|
0
|
|
Select Sector Municipal Trust
|
|
|
2,700
|
|
|
|
44,158
|
|
|
|
0
|
|
Senior Income Trust
|
|
|
0
|
|
|
|
24,066
|
|
|
|
2,500
|
|
Trust for Insured
Municipals
(2)
|
|
|
2,500
|
|
|
|
210,047
|
|
|
|
0
|
|
Trust for Investment Grade Municipals
|
|
|
2,300
|
|
|
|
225,391
|
|
|
|
0
|
|
Bond Fund
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
Dynamic Credit Opportunities Fund
|
|
|
0
|
|
|
|
0
|
|
|
|
2,000
|
|
High Income Trust II
|
|
|
1,800
|
|
|
|
0
|
|
|
|
20
|
|
|
|
(1)
|
The Trustees as a group own 1.52%
of the total Common Shares outstanding of Advantage Municipal
Income Trust II.
|
|
(2)
|
The Trustees as a group own 2.19%
of the total Common Shares outstanding of Trust for Insured
Municipals.
|
E-1
ANNEX
F
TRUSTEE BENEFICIAL OWNERSHIP OF SECURITIES
The table below indicates the
aggregate dollar range of equity securities of the respective
Funds listed below owned by each Trustee listed below as of
May 5, 2011.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Trustees
|
|
Interested Trustees
|
Fund
|
|
Arch
|
|
Choate
|
|
Dammeyer
|
|
Heagy
|
|
Kennedy
|
|
Kerr
|
|
Nelson
|
|
Sonnenschein
|
|
Woolsey
|
|
Meadows
|
|
Whalen
|
Advantage Municipal Income Trust II
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
California Value Municipal Trust
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Municipal Opportunity Trust
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Municipal Trust
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Select Sector Municipal Trust
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Senior Income Trust
|
|
None
|
|
None
|
|
Over $100,000
|
|
None
|
|
$10,001-$50,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Trust for Insured Municipals
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Trust for Investment Grade Municipals
|
|
None
|
|
$10,001-$50,000
|
|
Over $100,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Bond Fund
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Dynamic Credit Opportunities Fund
|
|
None
|
|
None
|
|
None
|
|
None
|
|
$10,001-$50,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
High Income Trust II
|
|
None
|
|
None
|
|
None
|
|
None
|
|
$1-$10,000
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
Aggregate Dollar Range of Equity Securities in all Registered
Investment Companies Overseen by Trustee in the Invesco
Fund Complex
|
|
$50,001-
$100,000
|
|
$1-$10,000
|
|
Over $100,000
|
|
$50,001-
$100,000
|
|
Over $100,000
|
|
$1-$10,000
|
|
Over $100,000
|
|
Over $100,000
|
|
Over $100,000
|
|
$1-$10,000
|
|
Over $100,000
|
F-1
ANNEX G
Audit and
Other Fees
Stub
Fiscal Year ended February 28, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Audit Fees
|
|
|
|
|
Fund
|
|
Fiscal
Year
(*)
|
|
|
Audit Fees
|
|
|
Audit-Related
|
|
|
Tax
|
|
|
All Other
|
|
|
Total Non-Audit
|
|
|
Total
|
|
|
Advantage Municipal Income Trust II
|
|
|
10/31/10-2/28/11
|
|
|
$
|
19,250
|
|
|
$
|
4,000
|
|
|
$
|
2,300
|
|
|
$
|
1,667
|
|
|
$
|
7,967
|
|
|
$
|
27,217
|
|
California Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Municipal Opportunity Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Ohio Quality Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Select Sector Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Trust for Insured Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Trust for Investment Grade Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
19,250
|
|
|
|
4,000
|
|
|
|
2,300
|
|
|
|
1,667
|
|
|
|
7,967
|
|
|
|
27,217
|
|
Senior Income Trust
|
|
|
7/31/10-2/28/11
|
|
|
|
46,950
|
|
|
|
6,500
|
|
|
|
2,800
|
|
|
|
1,667
|
|
|
|
10,967
|
|
|
|
57,917
|
|
Bond Fund
|
|
|
6/30/10-2/28/11
|
|
|
|
26,250
|
|
|
|
0
|
|
|
|
2,800
|
|
|
|
1,667
|
|
|
|
4,467
|
|
|
|
30,717
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31/10-2/28/11
|
|
|
|
46,950
|
|
|
|
0
|
|
|
|
2,800
|
|
|
|
1,667
|
|
|
|
4,467
|
|
|
|
51,417
|
|
High Income Trust II
|
|
|
12/31/10-2/28/11
|
|
|
|
12,250
|
|
|
|
0
|
|
|
|
2,800
|
|
|
|
0
|
|
|
|
2,800
|
|
|
|
15,050
|
|
Covered
Entities
(1)
|
|
|
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
N/A - Not applicable.
|
|
(1)
|
Covered Entities include the
Adviser (excluding sub-advisers) and any entity controlling,
controlled by or under common control with the Adviser that
provides ongoing services to the Funds.
|
(*)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to
February 28
th
.
|
G-1
Fiscal
Year ended 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Audit Fees
|
|
|
|
|
Fund
|
|
Fiscal Year
End
(*)
|
|
|
Audit Fees
|
|
|
Audit-Related
|
|
|
Tax
|
|
|
All Other
|
|
|
Total Non-Audit
|
|
|
Total
|
|
|
Advantage Municipal Income Trust II
|
|
|
10/31
|
|
|
$
|
35,000
|
|
|
$
|
0
|
|
|
$
|
4,300
|
|
|
$
|
0
|
|
|
$
|
4,300
|
|
|
$
|
39,300
|
|
California Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Municipal Opportunity Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Municipal Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Ohio Quality Municipal Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Select Sector Municipal Trust
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Trust for Insured Municipals
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Trust for Investment Grade Municipals
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
0
|
|
|
|
4,300
|
|
|
|
39,300
|
|
Senior Income Trust
|
|
|
7/31
|
|
|
|
62,600
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
68,600
|
|
Bond Fund
|
|
|
6/30
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
41,000
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31
|
|
|
|
62,600
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
68,600
|
|
High Income Trust II
|
|
|
12/31
|
|
|
|
35,000
|
|
|
|
0
|
|
|
|
6,000
|
|
|
|
1,667
|
|
|
|
7,667
|
|
|
|
42,667
|
|
Covered
Entities
(1)
|
|
|
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
N/A - Not applicable.
|
|
(1)
|
Covered Entities include the
Adviser (excluding sub-advisers) and any entity controlling,
controlled by or under common control with the Adviser that
provides ongoing services to the Funds.
|
(*)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to
February 28
th
.
|
G-2
Fiscal
Year ended 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year
End
(*)
|
|
|
|
|
|
Non-Audit Fees
|
|
|
Total
|
|
Fund
|
|
|
|
|
Audit Fees
|
|
|
Audit-Related
|
|
|
Tax
|
|
|
All Other
|
|
|
Total Non-Audit
|
|
|
|
|
|
Advantage Municipal Income Trust II
|
|
|
10/31
|
|
|
$
|
31,435
|
|
|
$
|
415
|
|
|
$
|
2,750
|
|
|
$
|
0
|
|
|
$
|
3,165
|
|
|
$
|
34,600
|
|
California Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Municipal Opportunity Trust
|
|
|
10/31
|
|
|
|
37,945
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
41,110
|
|
Municipal Trust
|
|
|
10/31
|
|
|
|
37,945
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
41,110
|
|
Ohio Quality Municipal Trust
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Select Sector Municipal Trust
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Trust for Insured Municipals
|
|
|
10/31
|
|
|
|
37,945
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
41,110
|
|
Trust for Investment Grade Municipals
|
|
|
10/31
|
|
|
|
37,945
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
41,110
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31
|
|
|
|
31,435
|
|
|
|
415
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,165
|
|
|
|
34,600
|
|
Senior Income Trust
|
|
|
7/31
|
|
|
|
80,625
|
|
|
|
18,300
|
|
|
|
3,720
|
|
|
|
0
|
|
|
|
22,020
|
|
|
|
102,645
|
|
Bond Fund
|
|
|
6/30
|
|
|
|
33,260
|
|
|
|
0
|
|
|
|
2,750
|
|
|
|
1,400
|
|
|
|
4,150
|
|
|
|
37,410
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31
|
|
|
|
79,500
|
|
|
|
0
|
|
|
|
3,720
|
|
|
|
0
|
|
|
|
3,720
|
|
|
|
83,220
|
|
High Income Trust II
|
|
|
12/31
|
|
|
|
51,745
|
|
|
|
830
|
|
|
|
2,750
|
|
|
|
0
|
|
|
|
3,580
|
|
|
|
55,325
|
|
Covered
Entities
(1)
|
|
|
|
|
|
|
N/A
|
|
|
|
1,100,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,100,000
|
|
|
|
1,100,000
|
|
N/A - Not applicable.
|
|
(1)
|
Covered Entities include Van Kampen
Asset Management Inc., the adviser to the Funds during the last
fiscal year of such Funds (the Former Adviser)
(excluding sub-advisers) and any entity controlling, controlled
by or under common control with the Former Adviser that provides
ongoing services to the Funds.
|
(*)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to
February 28
th
.
|
G-3
ANNEX H
To the knowledge of the Funds, the following table shows the
holders of 5% or more of a Funds common shares as of
May 5, 2011.
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Common Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
Select Sector Municipal Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
9.2%
|
Municipal Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
8.6%
|
Trust for Investment Grade Municipals
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
8.9%
|
Trust for Investment Grade New York Municipals
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
5.8%
|
Trust for Investment Grade New Jersey Municipals
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
6.7%
|
Municipal Opportunity Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
9.4%
|
California Value Municipal Income Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
12.4%
|
Pennsylvania Value Municipal Income Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
6.1%
|
Advantage Municipal Income Trust II
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
11.2%
|
Senior Income Trust
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
18.3%
|
H-1
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Common Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
Bond Fund
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
9.7%
|
Dynamic Credit Opportunities Fund
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
17.9%
|
High Income Trust II
|
|
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
|
|
10.3%
|
To the knowledge of the Funds, the following table shows the
holders of 5% or more of a Funds Preferred Shares as of
May 5, 2011.
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Preferred Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
Select Sector
Municipal Trust
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
47.7%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
16.0%
|
Municipal Trust
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
21.4%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
8.4%
|
|
|
Brigade Capital Management, LLC
399 Park Avenue, 16th Floor
New York, New York 10022
|
|
7.0%
|
Ohio Quality
Municipal Trust
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
35.6%
|
H-2
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Preferred Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
|
|
Karpus Management, Inc.
183 Sullys Trail
Pittsford, New York 14534
|
|
20.6%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
17.2%
|
Trust for
Insured Municipals
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
17.7%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
10.8%
|
|
|
Citigroup, Inc.
399 Park Avenue
New York, NY 10043
|
|
5.7%
|
Trust for Investment
Grade Municipals
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
22.7%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
6.7%
|
Trust of Investment
Grade New York
Municipals
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
29.9%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
10.3%
|
|
|
Citigroup, Inc.
399 Park Avenue
New York, NY 10043
|
|
9.0%
|
H-3
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Preferred Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
Trust for Investment
Grade New Jersey
Municipals
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
26.9%
|
|
|
Citigroup, Inc.
399 Park Avenue
New York, NY 10043
|
|
13.4%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
5.7%
|
Municipal
Opportunity Trust
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
25.5%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
13.5%
|
Massachusetts Value
Municipal
Income Trust
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
36.1%
|
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
17.1%
|
|
|
Karpus Management, Inc.
183 Sullys Trail
Pittsford, New York 14534
|
|
13.5%
|
|
|
Morgan Stanley & Co. Incorporated
1585 Broadway
New York, New York 10036
|
|
11.7%
|
California Value
Municipal
Income Trust
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
14.9%
|
H-4
|
|
|
|
|
|
|
|
|
Approximate
|
|
|
|
|
Percentage of
|
|
|
|
|
Preferred Shares
|
|
|
|
|
Owned on
|
Fund
|
|
Name and Address of Holder
|
|
May 5, 2011
|
|
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
11.6%
|
|
|
Wells Fargo Securities, LLC
301 S. College Street
Charlotte, North Carolina 28288
|
|
6.2%
|
Pennsylvania Value
Municipal
Income Trust
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
33.1%
|
|
|
Brigade Capital Management, LLC
399 Park Avenue, 16th Floor
New York, New York 10022
|
|
14.0%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
11.7%
|
Advantage
Municipal
Income Trust II
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
14.9%
|
|
|
JMB Capital Partners Master Fund L.P.
c/o Smithwood
Advisers, L.P.
1999 Avenue of the Stars, Suite 2040
Los Angeles, CA 90067
|
|
11.0%
|
|
|
UBS AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
8.6%
|
Senior Income
Trust
|
|
Citigroup, Inc.
399 Park Avenue
New York, NY 10043
|
|
26.2%
|
|
|
Bank of America Corporation
100 North Tryon Street
Charlotte, North Carolina 28255
|
|
8.8%
|
H-5
Annex I
Board and
Committee Meetings
Stub
Fiscal Year ended February 28, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audit
|
|
|
Brokerage and
|
|
|
Governance
|
|
|
|
|
|
|
Board
|
|
|
Committee
|
|
|
Services Committee
|
|
|
Committee
|
|
Fund
|
|
Fiscal
Year
(*)
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Advantage Municipal Income Trust II
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
California Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Municipal Opportunity Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Ohio Quality Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Select Sector Municipal Trust
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Trust for Insured Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Trust for Investment Grade Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31/10-2/28/11
|
|
|
|
2
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
Senior Income Trust
|
|
|
7/31/10-2/28/11
|
|
|
|
4
|
|
|
|
3
|
|
|
|
2
|
|
|
|
3
|
|
Bond Fund
|
|
|
6/30/10-2/28/11
|
|
|
|
4
|
|
|
|
3
|
|
|
|
2
|
|
|
|
3
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31/10-2/28/11
|
|
|
|
4
|
|
|
|
3
|
|
|
|
2
|
|
|
|
3
|
|
High Income Trust II
|
|
|
12/31/10-2/28/11
|
|
|
|
1
|
|
|
|
1
|
|
|
|
0
|
|
|
|
0
|
|
|
|
(*)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to February
28
th
.
|
I-1
Fiscal
Year ended 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audit
|
|
|
Brokerage and
|
|
|
Governance
|
|
|
|
|
|
|
Board
|
|
|
Committee
|
|
|
Services Committee
|
|
|
Committee
|
|
Fund
|
|
Fiscal Year
End
(*)
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Meetings
|
|
|
Advantage Municipal Income Trust II
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
California Value Municipal Income Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Massachusetts Value Municipal Income Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Municipal Opportunity Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Municipal Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Ohio Quality Municipal Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Pennsylvania Value Municipal Income Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Select Sector Municipal Trust
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Trust for Insured Municipals
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Trust for Investment Grade Municipals
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Trust for Investment Grade New Jersey Municipals
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Trust for Investment Grade New York Municipals
|
|
|
10/31/10
|
|
|
|
9
|
|
|
|
4
|
|
|
|
4
|
|
|
|
3
|
|
Senior Income Trust
|
|
|
7/31/10
|
|
|
|
12
|
|
|
|
4
|
|
|
|
4
|
|
|
|
2
|
|
Bond Fund
|
|
|
6/30/10
|
|
|
|
12
|
|
|
|
4
|
|
|
|
4
|
|
|
|
2
|
|
Dynamic Credit Opportunities Fund
|
|
|
7/31/10
|
|
|
|
12
|
|
|
|
4
|
|
|
|
4
|
|
|
|
2
|
|
High Income Trust II
|
|
|
12/31/10
|
|
|
|
8
|
|
|
|
4
|
|
|
|
4
|
|
|
|
4
|
|
|
|
(*)
|
Effective February 28, 2011,
the fiscal year end of each Fund was changed to February
28
th
.
|
I-2
|
|
|
|
|
|
|
|
Invesco
11 Greenway Plaza
Houston, Texas 77046-1173
www.invesco.com/us
|
FORM OF
PROXY
EVERY
SHAREHOLDERS VOTE IS IMPORTANT!
VOTE THIS PROXY CARD TODAY!
Your
Proxy Vote is important!
And
now you can Vote your Proxy on the
PHONE
or the
INTERNET.
It
saves Money! Telephone and Internet voting saves postage costs.
Savings which can help minimize fund expenses.
It
saves Time! Telephone and Internet voting is
instantaneous 24 hours a day.
Its
Easy! Just follow these simple steps:
1.
Read your Combined Prospectus/Proxy Statement and have it at
hand.
2.
Call toll-free
1-800-337-3503
or go to website:
www.proxy-direct.com/IVK22576
3.
Follow the recorded or on-screen directions.
4.
Do
not
mail your Proxy Card when you vote by phone or Internet.
Please
detach at perforation before mailing.
|
|
|
|
|
INVESCO VAN
KAMPEN XXXXXXX (the Fund)
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES (the
Board)
FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD
JUNE 17,
2011
|
XXXXXX
SHARES
The
undersigned holder of XXXXX Shares of Invesco Van Kampen
XXXXXXXXXXX hereby appoints Colin D. Meadows, John M. Zerr and
Sheri Morris, and any one of them separately, proxies with full
power of substitution in each, and hereby authorizes them to
represent and to vote, as designated on the reverse of this
proxy card, at the Joint Annual Meeting of Shareholders on
June 17, 2011, at 3:00 p.m., Central Time, and at any
adjournment or postponement thereof, all of the XXXX Shares of
the Fund which the undersigned would be entitled to vote if
personally present.
IF THIS PROXY IS SIGNED AND RETURNED WITH
NO CHOICE INDICATED, THE SHARES WILL BE VOTED
FOR THE APPROVAL OF THE PROPOSAL AND IN THE
DISCRETION OF THE PROXIES UPON SUCH OTHER BUSINESS AS MAY
PROPERLY COME BEFORE THE MEETING.
The
undersigned hereby acknowledges receipt of the accompanying
Notice of Meeting and Joint Proxy Statement for the Meeting to
be held on June 17, 2011.
VOTE
VIA THE INTERNET:
www.proxy-direct.com/IVK22576
VOTE
VIA THE TELEPHONE:
1-800-337-3503
NOTE
:
PLEASE SIGN EXACTLY AS YOUR NAME APPEARS ON THIS PROXY
CARD
. All joint owners should sign. When signing as
executor, administrator, attorney, trustee or guardian or as
custodian for a minor, please give full title as such. If a
corporation, limited liability company, or partnership, please
sign in full entity name and indicate the signers position
with the entity.
Signature
Signature
(if held jointly)
Date
PLEASE VOTE VIA
THE INTERNET OR TELEPHONE OR MARK, SIGN, DATE AND RETURN THIS
PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY
SHAREHOLDERS VOTE IS IMPORTANT!
VOTE THIS PROXY
CARD TODAY!
Important Notice
Regarding the Availability of Proxy Materials for the Invesco
Van Kampen XXXXXX
Meeting of Shareholders to Be Held on June 17, 2011.
The Proxy Statement for this meeting is available at:
https://www.proxy-direct.com/IVK22576
Please
detach at perforation before mailing.
This
proxy is solicited on behalf of the Board. The Board recommends
voting FOR the proposal.
TO
VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK
INK. Example:
n
Election
of Trustees The Board of Trustees recommends a vote
FOR
all the nominees listed:
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1.
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Election of XXXXX Trustees of XXXXX Shares:
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FOR
ALL
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WITHHOLD
ALL
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FOR ALL
EXCEPT
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01. XXXXXX
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02. XXXXXXX
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03. XXXXXXXX
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o
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o
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o
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INSTRUCTIONS:
To withhold authority to vote for
any individual nominee(s), mark the box
FOR ALL EXCEPT and write the nominees number
on the line provided below.
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To transact such other business as may properly come before the
Meeting or any adjournments thereof.
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PROXIES ARE
AUTHORIZED TO VOTE, IN THEIR DISCRETION, UPON SUCH OTHER
BUSINESS AS MAY PROPERLY
COME BEFORE THE MEETING OR ANY ADJOURNMENT OR POSTPONEMENT
THEREOF.
PLEASE SIGN AND
DATE ON THE REVERSE SIDE
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