INVESCO INTERNATIONAL FUNDS, INC.
INVESCO European Fund
INVESCO Pacific Basin Fund
INVESCO International Growth Fund
Supplement to Prospectuses
dated February 29, 1996
INVESCO European Fund and INVESCO Pacific Basin Fund Only:
The section of the Funds' Prospectus entitled "Annual Fund Expenses" is hereby
amended to read as follows:
Annual Fund Expenses
The Funds whose shares are offered through this Prospectus are INVESCO European
Fund and INVESCO Pacific Basin Fund. These Funds 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.
Shareholder Transaction Expenses European Pacific Basin
Sales load "charge" on purchases.............. None None
Sales load "charge" on reinvested dividends... None None
Redemption fees............................... None None
Exchange fees................................. None None
Annual Fund Operating Expenses
(as a percentage of average net assets)*
Management Fee................................ 0.75% 0.75%
12b-1 Fees.................................... None None
Other Expenses................................ 0.73% 0.91%
Transfer Agency Fee (1)..................... 0.38% 0.46%
General Services, Administrative Services,
Registration, Postage (2,3)................. 0.35% 0.45%
Total Fund Operating Expenses(2).............. 1.48% 1.66%
(1) Consists of the transfer agency fee described under "Additional Information
- -- Transfer and Dividend Disbursing Agent."
(2) The Funds' 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.
(3) Includes, but is not limited to, fees and expenses of directors, custodian
bank, legal counsel and independent accountants, securities pricing services,
costs of administrative services furnished under an Administrative Services
Agreement, costs of registration of Fund shares under applicable laws, and costs
of printing and distributing reports to shareholders.
Example*
A shareholder would pay the following expenses on a $1,000 investment
for the periods shown, assuming (1) a 5% annual return and (2) redemption at the
end of each time period:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
INVESCO European Fund $15 $47 $81 $178
INVESCO Pacific Basin Fund $17 $53 $91 $198
The purpose of the foregoing table is to assist investors in
understanding the various costs and expenses that an investor in the Funds will
bear directly or indirectly. Such expenses are paid from the Funds' assets. (See
"The Funds and Their Management.") The Funds charge no sales load, redemption
fee or exchange fee and bear no distribution expenses. The Example should not be
considered a representation of past or future expenses, and actual expenses may
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be greater or less than those shown. The assumed 5% annual return is
hypothetical and should not be considered a representation of past or future
annual returns, which may be greater or less than the assumed amount.
*The expense information in the above tables has been presented on a basis that
assumes that the Funds' current transfer agency fees had been in effect during
the year ended October 31, 1995.
The third paragraph in the section of the Funds' Prospectus entitled "Additional
Information" is hereby amended to read as follows:
Transfer and Dividend Disbursing Agent. INVESCO Funds Group, Inc., 7800
E. Union Ave., Denver, Colorado 80237, acts as registrar, transfer agent, and
dividend disbursing agent for each Fund pursuant to a Transfer Agency Agreement
which provides that the Fund will pay an annual fee of $20.00 per shareholder
account or omnibus account participant. The transfer agency fee is not charged
to each shareholder's or participant's account, but is an expense of the Fund to
be paid from the Fund's assets. Registered broker-dealers, third party
administrators of tax-qualified retirement plans and other entities, including
affiliates of INVESCO, may provide sub-transfer agency or record-keeping
services to the Fund which reduce or eliminate the need for identical services
to be provided on behalf of the Fund by INVESCO. In such cases, INVESCO may pay
the third party an annual sub-transfer agency or record-keeping fee out of the
transfer agency fee which is paid to INVESCO by the Fund.
INVESCO International Growth Fund Only:
The section of the Fund's Prospectus entitled "Annual Fund Expenses" is hereby
amended to read as follows:
Annual Fund Expenses
The Fund is 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.
Shareholder Transaction Expenses
Sales load "charge" on purchases................ None
Sales load "charge" on reinvested dividends..... None
Redemption fees................................. None
Exchange fees................................... None
Annual Fund Operating Expenses
(as a percentage of average net assets)*
Management Fee.................................. 1.00%
12b-1 Fees...................................... None
Other Expenses.................................. 0.92%
Transfer Agency Fee (1)....................... 0.45%
General Services, Administrative Services,
Registration, Postage (2,3)................... 0.47%
Total Fund Operating Expenses(2)................ 1.92%
(1) Consists of the transfer agency fee described under "Additional Information
- -- Transfer and Dividend Disbursing Agent."
(2) The Fund's 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.
(3) Includes, but is not limited to, fees and expenses of directors, custodian
bank, legal counsel and independent accountants, securities pricing services,
costs of administrative services furnished under an Administrative Services
Agreement, costs of registration of Fund shares under applicable laws, and costs
of printing and distributing reports to shareholders.
<PAGE>
Example*
A shareholder would pay the following expenses on a $1,000 investment
for the periods shown, assuming (1) a 5% annual return and (2) redemption at the
end of each time period:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
$20 $61 $105 $226
The purpose of the foregoing table is to assist investors in
understanding the various costs and expenses that an investor in the Fund will
bear directly or indirectly. Such expenses are paid from the Fund's assets. (See
"The Fund and Its Management.") This Fund charges no sales load, redemption fee
or exchange fee and bears no distribution expenses. The Example should not be
considered a representation of past or future expenses, and actual expenses may
be greater or less than those shown. The assumed 5% annual return is
hypothetical and should not be considered a representation of past or future
annual returns, which may be greater or less than the assumed amount.
*The expense information in the above tables has been presented on a basis that
assumes that the Fund's current transfer agency fees had been in effect during
the year ended October 31, 1995.
The third paragraph in the section of the Fund's Prospectus entitled "Additional
Information" is hereby amended to read as follows:
Transfer and Dividend Disbursing Agent. INVESCO Funds Group, Inc., 7800
E. Union Ave., Denver, Colorado 80237, acts as registrar, transfer agent, and
dividend disbursing agent for the Fund pursuant to a Transfer Agency Agreement
which provides that the Fund will pay an annual fee of $20.00 per shareholder
account or omnibus account participant. The transfer agency fee is not charged
to each shareholder's or participant's account, but is an expense of the Fund to
be paid from the Fund's assets. Registered broker-dealers, third party
administrators of tax-qualified retirement plans and other entities, including
affiliates of INVESCO, may provide sub-transfer agency or record-keeping
services to the Fund which reduce or eliminate the need for identical services
to be provided on behalf of the Fund by INVESCO. In such cases, INVESCO may pay
the third party an annual sub-transfer agency or record-keeping fee out of the
transfer agency fee which is paid to INVESCO by the Fund.
The date of this Supplement is May 1, 1996.
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INVESCO International Funds, Inc.
Supplement to Statement of Additional Information
Dated February 29, 1996
The second paragraph in the section of the Funds' Statement of Additional
Information entitled "The Funds and Their Management -- Transfer Agency
Agreement" is hereby amended to read as follows:
The Transfer Agency Agreement provides that the Company shall pay to
INVESCO an annual fee of $20.00 per shareholder account or omnibus account
participant. 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
Funds and Their Management -- Officers and Directors of the Company" 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 Company 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
Money Market Funds, Inc., INVESCO Multiple Asset Funds, Inc., INVESCO
Specialty Funds, Inc., INVESCO Strategic Portfolios, Inc., INVESCO
Tax-Free Income Funds, Inc., and INVESCO Variable Investment Funds, Inc.
All of the directors of the Company 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 Company also hold
comparable positions with INVESCO Value Trust. Set forth below is
information with respect to each of the Company'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.
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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.
A.D. FRAZIER, JR.*,** Director. Chief Operating Officer of the
Atlanta Committee for the Olympic Games. From 1982 to 1991, Mr.
<PAGE>
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 1992; Assistant Vice
<PAGE>
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 Funds and Their 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
Company 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 Company 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 Company 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 Company's independent directors.
The date of this Supplement is May 1, 1996.
