INVESCO VALUE TRUST
INVESCO Intermediate Government Bond Fund
INVESCO Total Return Fund
INVESCO Value Equity Fund
Supplement to Prospectuses dated January 1, 1998
The section of the INVESCO Intermediate Government Bond Fund's Prospectus
entitled "The Trust and Its Management" is amended to (1) delete the tenth
paragraph, and (2) substitute the following paragraph in its place:
Out of the advisory fee which it receives from the Fund, IFG pays ICM, as
the Fund's sub-adviser, a monthly fee based upon the average daily value of
the Fund's net assets. Based upon approval of the Trust's board of trustees
at a meeting held May 14, 1998, the calculation of subadvisory fees of the
Fund has been changed from 33.33% of the advisory fee (0.20% on the first
$500 million of the Fund's average net assets, 0.1667% on the next $500
million of the Fund's average net assets and 0.1333% on the Fund's average
net assets in excess of $1 billion) to 40% of the advisory fee (0.24% on
the first $500 million of the Fund's average net assets, 0.20% on the next
$500 million of the Fund's average net assets and 0.16% on the Fund's
average net assets in excess of $1 billion). No fee is paid by the Fund to
ICM.
The section of the INVESCO Total Return Fund's Prospectus entitled "The Trust
and Its Management" is amended to (1) delete the twelfth paragraph, and (2)
substitute the following paragraph in its place:
Out of the advisory fee which it receives from the Fund, IFG pays ICM, as
the Fund's sub-adviser, a monthly fee based upon the average daily value of
the Fund's net assets. Based upon approval of the Trust's board of trustees
at a meeting held May 14, 1998, the calculation of subadvisory fees of the
Fund has been changed from 33.33% of the advisory fee (0.25% on the first
$500 million of the Fund's average net assets, 0.2167% on the next $500
million of the Fund's average net assets and 0.1667% on the Fund's average
net assets in excess of $1 billion) to 40% of the advisory fee (0.30% on
the first $500 million of the Fund's average net assets, 0.26% on the next
$500 million of the Fund's average net assets and 0.20% on the Fund's
average net assets in excess of $1 billion). No fee is paid by the Fund to
ICM.
The section of the INVESCO Value Equity Fund's Prospectus entitled "The Trust
and Its Management" is amended to (1) delete the tenth paragraph, and (2)
substitute the following paragraph in its place:
Out of the advisory fee which it receives from the Fund, IFG pays ICM, as
the Fund's sub-adviser, a monthly fee based upon the average daily value of
the Fund's net assets. Based upon approval of the Trust's board of trustees
at a meeting held May 14, 1998, the calculation of subadvisory fees of the
Fund has been changed from 33.33% of the advisory fee (0.25% on the first
$500 million of the Fund's average net assets, 0.2167% on the next $500
million of the Fund's average net assets and 0.1667% on the Fund's average
net assets in excess of $1 billion) to 40% of the advisory fee (0.30% on
the first $500 million of the Fund's average net assets, 0.26% on the next
$500 million of the Fund's average net assets and 0.20% on the Fund's
average net assets in excess of $1 billion). No fee is paid by the Fund to
ICM.
The date of this Supplement is August 1, 1998.
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INVESCO VALUE TRUST
Supplement to Statement of Additional Information
dated January 1, 1998
The section of the INVESCO Value Trust's Statement of Additional Information
entitled "The Trust and Its Management: Advisory Agreement" is amended to (1)
delete the third paragraph, and (2) substitute the following paragraph in its
place:
The Sub-Agreement provides that as compensation for its services, ICM shall
receive from IFG, at the end of each month, a fee based upon the average
daily value of each Fund's net assets. Based upon approval of the Trust's
board of trustees at a meeting held May 14, 1998, the calculation of the
subadvisory fees of the Funds have been changed from 33.33% of the advisory
fee (with respect to the Value Equity and Total Return Funds, 0.25% on the
first $500 million of each Fund's average net assets; 0.2167% on the next
$500 million of each Fund's assets; and 0.1667% on each Fund's average net
assets in excess of $1 billion; and with respect to the Intermediate
Governmental Bond Fund, 0.20% on the first $500 million of the Fund's
average net assets; 0.1667% on the next $500 million of the Fund's average
net assets; and 0.1333% on the Fund's average net assets in excess of $1
billion) to 40% of the advisory fee (with respect to the Value Equity and
Total Return Funds, 0.30% on the first $500 million of each Fund's average
net assets; 0.26% on the next $500 million of each Fund's assets; and 0.20%
on each Fund's average net assets in excess of $1 billion; and with respect
to the Intermediate Governmental Bond Fund, 0.24% on the first $500 million
of the Fund's average net assets; 0.20% on the next $500 million of the
Fund's average net assets; and 0.16% on the Fund's average net assets in
excess of $1 billion). The sub-advisory fees are paid by IFG, not the
Funds.
The date of this Supplement is August 1, 1998.
