INVESCO SECTOR FUNDS, INC.
Supplement to Investor Class Prospectus
dated February 15, 2000, as Supplemented February 15, 2000
The section of the Prospectus entitled "Fees And Expenses - Annual Fund
Operating Expenses That Are Deducted From Fund Assets" is amended to (1) delete
the table and the footnotes and (2) substitute the following, respectively, in
their place:
ANNUAL FUND OPERATING EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
ENERGY FUND
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.75%
-----
Total Annual Fund Operating Expenses(2)(3) 1.75%
=====
FINANCIAL SERVICES FUND
Management Fee 0.63%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.43%
-----
Total Annual Fund Operating Expenses(2)(3) 1.31%
=====
GOLD FUND
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 1.32%
-----
Total Annual Fund Operating Expenses(2)(3) 2.32%
=====
HEALTH SCIENCES FUND
Management Fee 0.62%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.40%
-----
Total Annual Fund Operating Expenses(2)(3) 1.27%
=====
LEISURE FUND
Management Fee 0.74%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.49%
-----
Total Annual Fund Operating Expenses(2)(3) 1.48%
=====
REAL ESTATE OPPORTUNITY FUND
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3)(4) 1.91%
-----
Total Annual Fund Operating Expenses(2)(3)(4) 2.91%
=====
<PAGE>
TECHNOLOGY FUND
Management Fee 0.60%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.39%
-----
Total Annual Fund Operating Expenses(2)(3) 1.24%
=====
TELECOMMUNICATIONS FUND
Management Fee 0.62%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3) 0.42%
-----
Total Annual Fund Operating Expenses(2)(3) 1.29%
=====
UTILITIES FUND
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 0.25%
Other Expenses(2)(3)(4) 0.48%
-----
Total Annual Fund Operating Expenses(2)(3)(4) 1.48%
=====
(1) Because the Funds pay 12b-1 distribution fees which are based upon each
Fund's assets, if you own shares of a Fund for a long period of time, you
may pay more than the economic equivalent of the maximum front-end sales
charge permitted for mutual funds by the National Association of Securities
Dealers, Inc.
(2) Each Fund's actual Total Annual Fund Operating Expenses were lower than the
figures shown, because their custodian fees and/or distribution and/or
transfer agency fees were reduced under expense offset arrnagements.
(3) The expense information presented in this table has been restated from the
financials to reflect a change in the administrative services and transfer
agency fees.
(4) Certain expenses of Real Estate Opportunity, Telecommunications, and
Utilities Funds were absorbed voluntarily by INVESCO in order to ensure
that expenses for those Funds do not exceed 1.60% (1.30% prior to June 1,
2000), 2.00% and 1.30% (1.25% prior to June 1, 2000), respectively, of each
Fund's average net assets pursuant to commitments between those Funds and
INVESCO. These commitments may be changed at anytime following consultation
with the board of directors. After absorption, Real Estate Opportunity
Fund's Other Expenses and Total Annual Fund Operating Expenses were 0.37%
and 1.37%, respectively, of the Fund's average net assets; and Utilities
Fund's Other Expenses and Total Annual Fund Operating Expenses were 0.31%
and 1.31%, respectively, of the Fund's average net assets.
<PAGE>
The section of the Prospectus entitled "Fees And Expenses - Example" is amended
to (1) delete the second paragraph and (2) substitute the following in its
place:
The Example assumes that you invested $10,000 in a Fund for the time
periods indicated and redeemed all of your shares at the end of each
period. The Example also assumes that your investment had a hypothetical
5% return each year and that a Fund's operating expenses remained the
same. Although the actual costs and performance of a Fund may be higher or
lower, based on these assumptions your costs would have been:
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
Energy Fund $ 178 $ 551 $ 949 $2,062
Financial Services Fund $ 133 $ 415 $ 718 $1,579
Gold Fund $ 235 $ 724 $1,240 $2,656
Health Sciences Fund $ 129 $ 403 $ 697 $1,534
Leisure Fund $ 151 $ 468 $ 808 $1,768
Real Estate Opportunity Fund $ 294 $ 901 $1,533 $3,233
Technology Fund $ 126 $ 393 $ 681 $1,500
Telecommunications Fund $ 131 $ 409 $ 708 $1,556
Utilities Fund $ 151 $ 468 $ 808 $1,768
</TABLE>
The section of the Prospectus entitled "How To Buy Shares" is amended to add the
following sentence at the end of the third paragraph:
If you do not specify a fund or funds, your initial investment and any
subsequent purchases will automatically go into INVESCO Cash Reserves
Fund - Investor Class, a series of INVESCO Money Market Funds, Inc.
This Supplement supercedes the Supplement dated April 1, 2000.
The date of this Supplement is June 1, 2000.
<PAGE>
INVESCO SECTOR FUNDS, INC.
Supplement to Institutional Class Prospectus dated February 15, 2000
The section of the Prospectus entitled "Fees And Expenses - Annual Fund
Operating Expenses That Are Deducted From Fund Assets" is amended to (1) delete
the table and the footnotes and (2) substitute the following, respectively, in
their place:
ANNUAL FUND OPERATING EXPENSES THAT ARE DEDUCTED FROM ASSETS
TECHNOLOGY FUND - INSTITUTIONAL CLASS
Management Fee 0.60%
Distribution and Service (12b-1) Fees None
Other Expenses(1)(2) 0.16%
-----
Total Annual Fund Operating Expenses(1)(2) 0.76%
=====
(1) The Fund's actual Other Expenses and Total Annual Fund Operating
Expenses were lower than the figures shown because its custodian fees
were reduced under an expense offset arrangement.
(2) The expense information presented in the table has been restated from
the financials to reflect a change in the administrative services and
transfer agency fees.
The section of the Prospectus entitled "Fees And Expenses - Example" is amended
to (1) delete the second paragraph and (2) substitute the following in its
place:
The Example assumes that you invested $10,000 in the Institutional Class
shares of the Fund for the time periods indicated and redeemed all of your
shares at the end of each period. The Example also assumes that your
investment had a hypothetical 5% return each year and that the Fund's
Institutional Class shares' operating expenses remained the same. Although
the actual costs and performance of the Fund's Institutional Class shares
may be higher or lower, based on these assumptions your costs would have
been:
1 YEAR 3 YEARS 5 YEARS 10 YEARS
$78 $243 $422 $947
The date of this Supplement is June 1, 2000.
<PAGE>
INVESCO SECTOR FUNDS, INC.
Supplement to Class C Prospectus
dated February 15, 2000, as Supplemented February 15, 2000
The section of the Prospectus entitled "Fees And Expenses - Annual Fund
Operating Expenses That Are Deducted From Fund Assets" is amended to (1) delete
the table the footnotes and (2) substitute the following, respectively, in their
place:
ANNUAL FUND OPERATING EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
ENERGY FUND - CLASS C
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.75%
-----
Total Annual Fund Operating Expenses(2) 2.50%
=====
FINANCIAL SERVICES FUND - CLASS C
Management Fee 0.63%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.43%
-----
Total Annual Fund Operating Expenses(2) 2.06%
=====
GOLD FUND - CLASS C
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 1.32%
-----
Total Annual Fund Operating Expenses(2) 3.07%
=====
HEALTH SCIENCES FUND - CLASS C
Management Fee 0.62%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.40%
-----
Total Annual Fund Operating Expenses(2) 2.02%
=====
LEISURE FUND - CLASS C
Management Fee 0.74%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.49%
-----
Total Annual Fund Operating Expenses(2) 2.23%
=====
REAL ESTATE OPPORTUNITY FUND - CLASS C
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 1.91%
-----
Total Annual Fund Operating Expenses(2) 3.66%
=====
<PAGE>
TECHNOLOGY FUND - CLASS C
Management Fee 0.60%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.39%
-----
Total Annual Fund Operating Expenses(2) 1.99%
=====
TELECOMMUNICATIONS FUND - CLASS C
Management Fee 0.62%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.42%
-----
Total Annual Fund Operating Expenses(2) 2.04%
=====
UTILITIES FUND - CLASS C
Management Fee 0.75%
Distribution and Service (12b-1) Fees(1) 1.00%
Other Expenses(2) 0.48%
-----
Total Annual Fund Operating Expenses(2) 2.23%
=====
(1) Because the Funds pay 12b-1 distribution fees which are based upon
each Fund's assets, if you own shares of a Fund for a long period of
time, you may pay more than the economic equivalent of the maximum
front-end sales charge permitted for mutual funds by the National
Association of Securities Dealers, Inc.
(2) Based on estimated expenses for the current fiscal year which may be
more or less than actual expenses. Actual expenses are not provided
because the Funds' Class C shares were not offered until February 15,
2000. Certain expenses of Real Estate Opportunity Fund - Class C,
Telecommunications Fund - Class C, and Utilities Fund - Class C will
be absorbed voluntarily by INVESCO in order to ensure that expenses
for those Funds do not exceed 2.35% (2.05% prior to June 1, 2000),
2.75% and 2.05% (2.00% prior to June 1, 2000), respectively, of each
Fund's average net assets pursuant to commitments between those Funds
and INVESCO. These commitments may be changed at anytime following
consultation with the board of directors. After absorption, Real
Estate Opportunity Fund - Class C shares' Other Expenses and Total
Annual Fund Operating Expenses for the fiscal year ended March 31,
2000 are estimated to be 0.37% and 2.12%, respectively, of the Fund's
average net assets attributable to Class C shares; and Utilities Fund
- Class C shares' Other Expenses and Total Annual Fund Operating
Expenses for the fiscal year ended March 31, 2000 are estimated to be
0.31% and 2.06%, respectively, of the Fund's average net assets
attributable to Class C shares.
<PAGE>
The section of the Prospectus entitled "Fees And Expenses - Examples" is amended
to (1) delete the second paragraph and (2) substitute the following in its
place:
The Examples assume that you invested $10,000 in Class C shares of a Fund
for the time periods indicated. The first Example assumes that you redeem
all of your shares at the end of each period. The second Example assumes
you keep your shares. Both Examples also assume that your investment had a
hypothetical 5% return each year and that a Fund's Class C shares'
operating expenses remained the same. Although the actual costs and
performance of a Fund's Class C shares may be higher or lower, based on
these assumptions your costs would have been:
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
IF SHARES ARE REDEEMED 1 year 3 years 5 years 10 years
Energy Fund - Class C $ 353 $ 779 $1,331 $2,836
Financial Services Fund - Class C $ 309 $ 646 $1,108 $2,390
Gold Fund - Class C $ 410 $ 948 $1,611 $3,383
Health Sciences Fund - Class C $ 305 $ 634 $1,088 $2,348
Leisure Fund - Class C $ 326 $ 697 $1,195 $2,565
Real Estate Opportunity Fund - Class C $ 468 $1,120 $1,892 $3,915
Technology Fund - Class C $ 302 $ 624 $1,073 $2,317
Telecommunications Fund - Class C $ 307 $ 640 $1,098 $2,369
Utilities Fund - Class C $ 326 $ 697 $1,195 $2,565
IF SHARES ARE NOT REDEEMED 1 year 3 years 5 years 10 years
Energy Fund - Class C $ 253 $ 779 $1,331 $2,836
Financial Services Fund - Class C $ 209 $ 646 $1,108 $2,390
Gold Fund - Class C $ 310 $ 948 $1,611 $3,383
Health Sciences Fund - Class C $ 205 $ 634 $1,088 $2,348
Leisure Fund - Class C $ 226 $ 697 $1,195 $2,565
Real Estate Opportunity Fund - Class C $ 368 $1,120 $1,892 $3,915
Technology Fund - Class C $ 202 $ 624 $1,073 $2,317
Telecommunications Fund - Class C $ 207 $ 640 $1,098 $2,369
Utilities Fund - Class C $ 226 $ 697 $1,195 $2,565
The date of this Supplement is June 1, 2000.
<PAGE>
INVESCO SECTOR FUNDS, INC.
Supplement to Statement of Additional Information
dated February 15, 2000, as Supplemented February, 15, 2000
The section of the Statement of Additional Information entitled "Management of
the Funds Transfer Agency Agreement" is amended to (1) delete the first sentence
of the second paragraph and (2) substitute the following in its place:
The Transfer Agency Agreement provides that each Fund pays INVESCO an
annual fee of $22.50 per shareholder account, or, where applicable, per
participant in an omnibus account. Prior to June 1, 2000, this fee was
$20.00.
The date of this Supplement is June 1, 2000.
</TABLE>
