INVESCO STRATEGIC PORTFOLIOS, INC.
Supplement to Prospectus
dated February 29, 1996
The section of the Fund's Prospectus entitled "Annual Fund Expenses" is hereby
amended to read as follows:
Annual Fund Expenses
The Portfolios whose shares are offered through this prospectus are
the Energy, Environmental Services, Financial Services, Gold, Health
Sciences, Leisure, and Technology Portfolios. These Portfolios are 100%
no-load; there are no fees to purchase, exchange or redeem shares nor any
ongoing marketing ("12b-1") expenses. Lower expenses benefit Fund
shareholders by increasing the Fund's total return.
Like any company, each Portfolio has operating expenses--such as
portfolio management, accounting, shareholder servicing, maintenance of
shareholder accounts, and other expenses. These expenses are paid from
each Portfolio's assets. Lower expenses therefore benefit investors by
increasing a Portfolio's total return. We calculate annual operating
expenses as a percentage of each Portfolio's average annual net assets.
Annual Fund Operating Expenses (as a percentage of average net assets)*
Energy Portfolio
Management Fee 0.75%
12b-1 Fees None
Other Expenses(1) 0.87%
Total Portfolio Operating Expenses(1) 1.62%
Environmental Services Portfolio
Management Fee 0.75%
12b-1 Fees None
Other Expenses (after absorbed expenses)(1)(2) 0.92%
Total Portfolio Operating Expenses (after absorbed expenses)(1)(2) 1.67%
Financial Services Portfolio
Management Fee 0.75%
12b-1 Fees None
Other Expenses (1) 0.56%
Total Portfolio Operating Expenses (1) 1.31%
Gold Portfolio
Management Fee 0.75%
12b-1 Fees None
Other Expenses (1) 0.67%
Total Portfolio Operating Expenses (1) 1.42%
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Health Sciences Portfolio
Management Fee 0.71%
12b-1 Fees None
Other Expenses (1) 0.49%
Total Portfolio Operating Expenses (1) 1.20%
Leisure Portfolio
Management Fee 0.75%
12b-1 Fees None
Other Expenses (1) 0.66%
Total Portfolio Operating Expenses (1) 1.41%
Technology Portfolio
Management Fee 0.73%
12b-1 Fees None
Other Expenses (1) 0.47%
Total Portfolio Operating Expenses (1) 1.20%
(1) Portions of the brokerage commissions paid by the Portfolios were used to
reduce portfolio expenses, and the Portfolios' custodian fees were reduced under
an expense offset arrangement. However, as a result of a new requirement, the
figures shown above do not reflect these reductions. In comparing expenses for
different years, please note that the ratios of Expenses to Average Net Assets
shown under "Financial Highlights" do reflect any reductions for periods prior
to the fiscal year ended October 31, 1995.
(2) Certain Fund expenses of the Environmental Services Portfolio are being
voluntarily absorbed by IFG. Ratio reflects total expenses, less absorbed
expenses by IFG, before any expense offset arrangement. In the absence of such
voluntary expense limitation, the Portfolio's "Other Expenses" and "Total
Portfolio Operating Expenses" would have been 1.18% and 1.93%, respectively,
based on the PortfolioAEs actual expenses for the fiscal year ended October 31,
1995.
Example*
A shareholder would pay the following expenses on a $1,000 investment for
the periods shown, assuming a hypothetical 5% annual return and redemption at
the end of each time period. (Of course, actual operating expenses are paid from
each Portfolio's assets, and are deducted from the amount of income available
for distribution to shareholders; they are not charged directly to shareholder
accounts.)
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
Energy Portfolio $17 $51 $89 $193
Environmental Services Portfolio 17 53 91 199
Financial Services Portfolio 13 42 72 159
Gold Portfolio 15 45 78 171
Health Sciences Portfolio 12 38 66 146
Leisure Portfolio 14 45 78 170
Technology Portfolio 12 38 66 146
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The purpose of this table is to assist you in understanding the various
costs and expenses that you will bear directly or indirectly. The example should
not be considered a representation of past or future performance or expenses,
and actual annual returns and expenses may be greater or less than those shown.
For more information on each PortfolioAEs expenses, see "The Fund and Its
Management" and "How to Buy Shares--Distribution Expenses."
*The expense information in the above tables has been presented on a basis that
assumes that the Portfolios' current transfer agency fees and the Environmental
Service Portfolio's current expense limitation had been in effect during the
year ended October 31, 1995.
Effective June 1, 1996, the section of the Fund's prospectus entitled "The Fund
and Its Management" is hereby amended to add the following as the ninth
paragraph of the section, without deleting any of the existing paragraphs:
Effective June 1, 1996, Carol A. Werther will join Mr. Schroer as
co-portfolio manager of the Health Sciences Portfolio. Previously, Ms.
Werther was a portfolio manager specializing in biotechnology stocks with
Rothschild Asset Management Ltd. (1995 to 1996); a vice president and
biotechnology analyst with Cowen & Company (1992 to 1994); and an analyst
with Lehman Brothers (1990 to 1992). Ms. Werther earned an M.B.A. from New
York University, an M.S. from the University of Alabama in Birmingham and
a B.S. from Cornell University.
The fifteenth paragraph in the section of the Fund's Prospectus entitled "The
Fund and Its Management" is hereby amended to read as follows:
Under a Transfer Agency Agreement, IFG acts as registrar, transfer
agent, and dividend disbursing agent for the Fund. The Fund pays an annual
fee of $20.00 per shareholder account or omnibus account participant for
these services. Registered broker-dealers, third party administrators of
tax-qualified retirement plans and other entities, including affiliates of
IFG, may provide equivalent services to the Fund. In these cases, IFG may
pay, out of the fee it receives from the Fund, an annual sub-transfer
agency or record-keeping fee to the third party.
The date of this Supplement is May 1, 1996.
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INVESCO STRATEGIC UTILITIES PORTFOIO
Supplement to Prospectus
dated February 29, 1996
The seventh paragraph in the section of Portfolio's Prospectus entitled "The
Fund and Its Management" is hereby amended to read as follows:
Under a Transfer Agency Agreement, IFG acts as registrar, transfer
agent, and dividend disbursing agent for the Fund. The Fund pays an annual
fee of $20.00 per shareholder account or omnibus account participant for
these services. Registered broker-dealers, third party administrators of
tax-qualified retirement plans and other entities, including affiliates of
IFG, may provide equivalent services to the Fund. In these cases, IFG may
pay, out of the fee it receives from the Fund, an annual sub-transfer
agency or record-keeping fee to the third party.
The date of this Supplement is May 1, 1996.
<PAGE>
INVESCO STRATEGIC PORTFOLIOS, INC.
Supplement to Statement of Additional Information
Dated February 29, 1996
The second paragraph in the section of the Fund's Statement of Additional
Information entitled "The Fund and Its Management -- Transfer Agency
Agreement" is hereby amended to read as follows:
The Transfer Agency Agreement provides that the Fund shall pay to
INVESCO a fee of $20.00 per shareholder account or omnibus account
participant per year. This fee is paid monthly at 1/12 of the annual fee
and is based upon the actual number of shareholder accounts and omnibus
account participants in existence during each month.
The section of the Funds' Statement of Additional Information entitled "The Fund
and Its Management -- Officers and Directors of the Fund" is hereby amended to
(1) delete the second through the nineteenth paragraphs and (2) substitute the
following new paragraphs in their place:
All of the officers and directors of the Fund hold comparable
positions with INVESCO Diversified Funds, Inc., INVESCO Dynamics Fund,
Inc., INVESCO Emerging Opportunity Funds, Inc., INVESCO Growth Fund, Inc.,
INVESCO Income Funds, Inc., INVESCO Industrial Income Fund, Inc., INVESCO
International Funds, Inc., INVESCO Money Market Funds, Inc., INVESCO
Multiple Asset Funds, Inc., INVESCO Specialty Funds, Inc., INVESCO
Tax-Free Income Funds, Inc., and INVESCO Variable Investment Funds, Inc.
All of the directors of the Fund also serve as trustees of INVESCO Value
Trust. In addition, all of the directors of the Fund also are directors of
INVESCO Advisor Funds, Inc. (formerly known as The EBI Funds, Inc.); and,
with the exception of Mr. Hesser, trustees of INVESCO Treasurer's Series
Trust. All of the officers of the Fund also hold comparable positions with
INVESCO Value Trust. Set forth below is information with respect to each
of the Fund's officers and directors. Unless otherwise indicated, the
address of the directors and officers is Post Office Box 173706, Denver,
Colorado 80217-3706. Their affiliations represent their principal
occupations during the past five years.
CHARLES W. BRADY,*+ Chairman of the Board. Chief Executive Officer
and Director of INVESCO PLC, London, England, and of various subsidiaries
thereof. Chairman of the Board of INVESCO Advisor Funds, Inc., INVESCO
Treasurer's Series Trust and The Global Health Sciences Fund. Address:
1315 Peachtree Street, NE, Atlanta, Georgia. Born: May 11, 1935.
<PAGE>
FRED A. DEERING,+# Vice Chairman of the Board. Vice Chairman of
INVESCO Advisor Funds, Inc., and INVESCO Treasurer's Series Trust.
Trustee of The Global Health Sciences Fund. Formerly, Chairman of the
Executive Committee and Chairman of the Board of Security Life of Denver
Insurance Company, Denver, Colorado; Director of ING America Life
Insurance Company, Urbaine Life Insurance Company and Midwestern United
Life Insurance Company. Address: Security Life Center, 1290 Broadway,
Denver, Colorado. Born: January 12, 1928.
DAN J. HESSER,+* President and Director. Chairman of the Board,
President, and Chief Executive Officer of INVESCO Funds Group, Inc.;
Director of INVESCO Trust Company. Trustee of The Global Health Sciences
Fund. Born: December 27, 1939.
VICTOR L. ANDREWS,** Director. Professor Emeritus, Chairman Emeritus
and Chairman of the CFO Roundtable of the Department of Finance of Georgia
State University, Atlanta, Georgia; President, Andrews Financial
Associates, Inc. (consulting firm); formerly, member of the faculties of
the Harvard Business School and the Sloan School of Management of MIT.
Dr. Andrews is also a Director of The Southeastern Thrift and Bank Fund,
Inc. and The Sheffield Funds, Inc. Address: 4625 Jettridge Drive,
Atlanta, Georgia. Born: June 23, 1930.
BOB R. BAKER,+** Director. President and Chief Executive Officer of
AMC Cancer Research Center, Denver, Colorado, since January 1989; until
mid-December 1988, Vice Chairman of the Board of First Columbia Financial
Corporation (a financial institution), Englewood, Colorado. Formerly,
Chairman of the Board and Chief Executive Officer of First Columbia
Financial Corporation. Address: 1775 Sherman Street, #1000, Denver,
Colorado. Born: August 7, 1936.
LAWRENCE H. BUDNER,# Director. Trust Consultant; prior to June 30,
1987, Senior Vice President and Senior Trust Officer of InterFirst Bank,
Dallas, Texas. Address: 7608 Glen Albens Circle, Dallas, Texas. Born:
July 25, 1930.
DANIEL D. CHABRIS,+# Director. Financial Consultant; Assistant
Treasurer of Colt Industries Inc., New York, New York, from 1966 to 1988.
Address: 15 Sterling Road, Armonk, New York. Born: August 1, 1923.
<PAGE>
A.D. FRAZIER, JR.*,** Director. Chief Operating Officer of the
Atlanta Committee for the Olympic Games. From 1982 to 1991, Mr. Frazier
was employed in various capacities by First Chicago Bank, most recently
as Executive Vice President of the North American Banking Group. Trustee
of The Global Health Sciences Fund. Director of Magellan Health Services,
Inc. and of Charter Medical Corp. Address: 250 Williams Street, Suite
6000, Atlanta, Georgia. Born: June 23, 1944.
HUBERT L. HARRIS, JR.*, Director. President of INVESCO Services,
Inc. (since January 1990). Director of INVESCO PLC and Chief Financial
Officer of INVESCO Individual Services Group. Member of the Executive
Committee of the Alumni Board of Trustees of Georgia Institute of
Technology. Address: 1315 Peachtree Street, N.E., Atlanta, Georgia.
Born: July 15, 1943.
KENNETH T. KING,** Director. Formerly, Chairman of the Board of The
Capitol Life Insurance Company, Providence Washington Insurance Company,
and Director of numerous subsidiaries thereof in the U.S. Formerly,
Chairman of the Board of The Providence Capitol Companies in the United
Kingdom and Guernsey. Chairman of the Board of the Symbion Corporation (a
high technology company) until 1987. Address: 4080 North Circulo
Manzanillo, Tucson, Arizona. Born: November 16, 1925.
JOHN W. McINTYRE,# Director. Retired. Formerly, Vice Chairman of
the Board of Directors of The Citizens and Southern Corporation and
Chairman of the Board and Chief Executive Officer of The Citizens and
Southern Georgia Corp. and Citizens and Southern National Bank. Director
of Golden Poultry Co., Inc. Trustee of The Global Health Sciences Fund
and Gables Residential Trust. Address: 7 Piedmont Center, Suite 100,
Atlanta, Georgia. Born: September 14, 1930.
GLEN A. PAYNE, Secretary. Senior Vice President, General Counsel
and Secretary of INVESCO Funds Group, Inc. and INVESCO Trust Company.
Formerly, employee of a U.S. regulatory agency, Washington, D.C., (June
1973 through May 1989.) Born: September 25, 1947.
RONALD L. GROOMS, Treasurer. Senior Vice President and Treasurer of
INVESCO Funds Group, Inc. and INVESCO Trust Company since January 1988.
Born: October 1, 1946.
WILLIAM J. GALVIN, JR., Assistant Secretary. Senior Vice President
of INVESCO Funds Group, Inc. and Trust Officer of INVESCO Trust Company.
Formerly, Vice President of 440 Financial Group from June 1990 to August
<PAGE>
1992; Assistant Vice President of Putnam Companies from November 1986 to
June 1990. Born: August 21, 1956.
ALAN I. WATSON, Assistant Secretary. Vice President of INVESCO
Funds Group, Inc. and Trust Officer of INVESCO Trust Company. Born:
September 14, 1941.
JUDY P. WIESE, Assistant Treasurer. Vice President of INVESCO Funds
Group, Inc. and Trust Officer of INVESCO Trust Company. Born: February 3,
1948.
The ninth paragraph of the section of the Funds' Statement of Additional
Information entitled "The Fund and Its Management - Director Compensation" (the
paragraph immediately following footnote 6) is hereby amended to read as
follows:
Messrs. Brady, Harris and Hesser , as "interested persons" of the
Fund and other funds in the INVESCO Complex, receive compensation as
officers or employees of INVESCO or its affiliated companies, and do not
receive any director's fees or other compensation from the Fund or other
funds in the INVESCO Complex for their services as directors. Because of
the possibility that A.D. Frazier, Jr. may become employed by a company
affiliated with INVESCO at some point in the future, he was deemed to be
an "interested person" of the Fund and of the other funds in the INVESCO
Complex effective May 1, 1996. Until such time as Mr. Frazier actually
becomes employed by an INVESCO-affiliated company, however, he will
continue to receive the same director's fees and other compensation as the
Fund's independent directors.
The date of this Supplement is May 1, 1996.
