INVESCO Advisor Funds, Inc.
Supplement to Statement of Additional Information
Dated May 1, 1996
The section of the Fund's Statement of Additional Information entitled
"Management of the Fund -- Directors and Officers" is hereby amended to (1)
delete the second through seventeenth paragraphs and (2) substitute the
following new paragraphs in their place:
CHARLES W. BRADY,*+ Chairman of the Board of Directors.
Mr. Brady is Chief Executive Officer and a director of INVESCO
PLC, London, England, and of subsidiaries thereof. He is also
Chairman of the Board of INVESCO Treasurer's Series Trust and of
The Global Health Sciences Fund. Address: 1315 Peachtree Street,
N.E., Atlanta, Georgia 30309. Born: May 11, 1935.
FRED A. DEERING, +# Vice Chairman of the Board of
Directors. Mr. Deering was formerly Chairman of the Executive
Committee and Chairman of the Board of Security Life of Denver
Insurance Company, Denver, Colorado; Director of NN Financial,
Toronto, Ontario, Canada; Director and Chairman of the Executive
Committee of ING America Life, Life Insurance Co. of Georgia, and
Southland Life Insurance Company. Vice Chairman of INVESCO
Treasurer's Series Trust. Trustee of The Global Health Sciences
Fund. Address: Security Life Center, 1290 Broadway, Denver,
Colorado. Born: January 12, 1928.
HUBERT L. HARRIS, JR.,*+ President and Director. Mr.
Harris has been President of the Fund since April 1991. Mr. Harris
is also Chairman of INVESCO Services, Inc., a position he has held
since May 1996, prior to which he was President from January 1990
to April 1996. He is a Director of INVESCO PLC, London, England,
and Chief Financial Officer of INVESCO Individual Services Group.
From November 1988 to January 1990, he was an employee of
INVESCO Capital Management, Inc. From 1983 to 1988, Mr. Harris
was President and Executive Director of the International Association
for Financial Planning. Mr. Harris is a member of the Executive
Committee of the Alumni Board of Trustees of Georgia Institute of
Technology. Address: 1315 Peachtree Street, N.E., Atlanta, Georgia
30309. Born: July 15, 1943.
VICTOR L. ANDREWS,** Director. Dr. Andrews has been
Mills Bee Lane Professor of Banking and Finance and Chairman of
the Department of Finance at Georgia State University, Atlanta,
Georgia since 1968. Since October 1984, Dr. Andrews has been
Director of the Center for the Study of Regulated Industry at Georgia
<PAGE>
State University. He is a former member of the faculties of the
Harvard Business School and the Sloan School of Management of
MIT. He is also a Director of The Southeastern Thrift and Bank
Fund, Inc. and The Sheffield Funds, Inc., and a Trustee of INVESCO
Treasurer's Series Trust. Address: Department of Finance, Georgia
State University, University Plaza, Atlanta, Georgia 30303-3083.
Born: June 23, 1930.
BOB R. BAKER,+** Director. Mr. Baker has been President
and Chief Executive Officer of AMC Cancer Research Center,
Denver, Colorado, since January 1989. Until mid-December 1988,
Mr. Baker served as Vice Chairman of the Board of First Columbia
Financial Corporation (a financial institution), Englewood, Colorado.
Prior to that time, Mr. Baker served as Chairman of the Board and
Chief Executive Officer of First Columbia Financial Corporation. Mr.
Baker is a Trustee of INVESCO Treasurer's Series Trust. Address:
1775 Sherman Street, #1000, Denver, Colorado 80203. Born:
August 7, 1936.
LAWRENCE H. BUDNER,# Director. Mr. Budner is a Trust
Consultant. Prior to June 1987, he was Senior Vice President and
Senior Trust Officer of InterFirst Bank of Dallas, Texas. He is a
Trustee of INVESCO Treasurer's Series Trust. Address: 7608 Glen
Albens, Dallas, Texas 75225. Born: July 25, 1930.
DANIEL D. CHABRIS,+# Director. Mr. Chabris is a Financial
Consultant. From 1966 to 1988, he was Assistant Treasurer of Colt
Industries, Inc., New York, New York. He is a Trustee of INVESCO
Treasurer's Series Trust. Address: 15 Sterling Road, Armonk, New
York 10504. Born: August 1, 1923.
DAN J. HESSER,* Director. Mr. Hesser is Chairman of the
Board, President, and Chief Executive Officer of INVESCO Funds
Group, Inc. Mr. Hesser is also Director of INVESCO Trust
Company, and Trustee of The Global Health Sciences Fund.
Address: Post Office Box 173706, Denver, Colorado 80217-3706.
Born: December 27, 1939.
KENNETH T. KING,** Director. Mr. King is retired. Mr. King
was formerly Chairman of the Board of The Capital Life Insurance
Company and of Providence Washington Insurance Company and
Director of numerous subsidiaries thereof in the United States. Prior
to that, Mr. King was the Chairman of the Board of The Providence
Capital Companies in the United Kingdom and Guernsey. Mr. King
also served as Chairman of the Board of Symbion Corporation (a
high technology company) until 1987. He is a Trustee of INVESCO
<PAGE>
Treasurer's Series Trust. Address: 4080 North Circulo Manzanillo,
Tucson, Arizona 85715. Born: November 16, 1925.
A.D. FRAZIER, JR.*,** Director. Mr. Frazier is Chief
Operating Officer of the Atlanta Committee for the Olympic Games.
Until 1991, Mr. Frazier was Executive Vice President of the North
American Banking Group of First Chicago Bank. Mr. Frazier is also
Director of the Atlanta Chamber of Commerce and Atlanta
Symphony Orchestra and a Trustee of INVESCO Treasurer's Series
Trust and The Global Health Sciences Fund. Address: 250 Williams
Street, Suite 6000, Atlanta, Georgia 30301. Born: June 29, 1944.
JOHN W. MCINTYRE,# Director. Mr. McIntyre is retired. He
was formerly Chairman of the Board and Chief Executive Officer of
Citizens and Southern National Bank in Atlanta, Georgia, positions
he held from May 1986 to December 1991. Prior to that, Mr.
McIntyre was Vice Chairman of the Board of The Citizens and
Southern Corporation and Chairman of the Board and Chief
Executive Officer of The Citizens and Southern Georgia Corp.
Director of Golden Poultry Co., Inc. He is also a Trustee of
INVESCO Treasurer's Series Trust, The Global Health Sciences
Fund and Gables Residential Trust. Address: Seven Piedmont
Center, Suite 100, Atlanta, Georgia 30305. Born: September 14,
1930.
TONY D. GREEN, Treasurer and Secretary. Mr. Green has
served as Treasurer and Secretary since June 1995. He has also
served as Senior Vice President of INVESCO Services, Inc. since
July 1993. Secretary since April 1995. Prior to joining INVESCO
Services, Inc., he was Principal for Mutual Fund Operations at
Edward D. Jones & Co. He has also served as Treasurer and
Secretary of INVESCO Treasurers Series Trust since July 1995.
Address: 1355 Peachtree Street, N.E., Atlanta, Georgia 30309.
Born: March 1, 1947.
MARK F. MOOTS, JR., Assistant Treasurer and Assistant Secretary. Mr.
Moots has served as Chief Financial Officer of INVESCO Services, Inc.
since May 1996, prior to which he was Compliance and Accounting Manager
from August 1995 to April 1996. Prior to joining INVESCO Services, Inc.,
he served three years as Chief Financial Officer for Caldwell & Orkin,
Inc., a registered investment adviser, and Treasurer for C&O Funds
Distributor, Inc., a broker/dealer. He also served as Principal Accounting
Officer and Treasurer for The Caldwell & Orkin Funds, Inc., a regulated
investment company. Prior to 1992, Mr. Moots was employed by Deloitte &
Touche LLP, a public accounting firm.
<PAGE>
Address: 1355 Peachtree Street, N.E. Atlanta, Georgia, 30309.
Born: May 16, 1964.
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* Messrs. Brady, Hesser, and Harris are "interested persons"
(as that term is defined in the 1940 Act) of the Fund because
of their affiliation with ISI and/or its affiliated companies. Mr.
Frazier is an "interested person" of the Fund for the reasons
discussed below under "Director Compensation."
# Member of the audit committee of the Fund.
+ Member of the executive committee of the Fund. The
executive committee acts upon the current and ordinary
business of the Fund between meetings of the Board of
Directors. Except for certain powers which, under applicable
law, may only be exercised by the full Board of Directors, the
executive committee may exercise all powers and authority of
the Board of Directors in the management of the business of
the Fund. All decisions are subsequently submitted for
ratification by the Board of Directors.
** Member of the management liaison committee of the Fund.
ICM and ISI serve as investment adviser and principal underwriter,
respectively, of INVESCO Treasurer's Series Trust. Mr. Brady is also
Chairman of the Board, Mr. Deering is Vice Chairman, and all of the
Directors of the Fund are directors or trustees of the following
investment companies: 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
Strategic Portfolios, Inc., INVESCO Tax-Free Income Funds, Inc., INVESCO
Value Trust, and INVESCO Variable Investment Funds, Inc. All of the
Directors of the Fund, except Mr. Hesser, are also trustees of INVESCO
Treasurer's Series Trust.
The second paragraph of the section of the Funds' Statement of Additional
Information entitled "Management of the Fund - Director Compensation" (the
Directors Compensation Table) is hereby amended to read as follows:
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Estimated Total
Aggregate Retirement Benefits Annual Compensation
Compensation Accrued As Part of Benefits Upon From INVESCO
Name of Person, From Fund1 Fund Expenses2 Retirement3 Complex Paid To
Position Directors1
- ----------------------------------------------------------------------------------------
Fred A. Deering,
Vice Chairman
of the Board $7,778 $1,229 $1,022 $87,350
Victor L. Andrews 6,430 1,082 1,127 68,000
Bob R. Baker 7,599 1,116 1,511 73,000
Lawrence H. Budner 7,350 1,161 1,127 68,350
Daniel D. Chabris 7,619 1,325 801 73,350
A. D. Frazier, Jr. 10,848 0 0 63,500
Kenneth T. King 7,436 1,276 927 70,000
John W. McIntyre 11,034 0 0 67,850
========================================================================================
Total $66,094 $7,189 $6,515 $571,400
% of Net Assets 0.0088%4 0.0010%4 N/A 0.0043%5
</TABLE>
The eighth paragraph of the section of the Funds' Statement of Additional
Information entitled "Management of the Fund - Director Compensation" (the
paragraph immediately following footnote 5) 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 ISI 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 ISI 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.
