INVESCO SPECIALTY FUNDS, INC.
INVESCO Worldwide Capital Goods Fund
INVESCO Worldwide Communications Fund
INVESCO European Small Company Fund
INVESCO Latin American Growth Fund
INVESCO Asian Growth Fund
INVESCO Realty Fund
Supplement to Prospectuses dated December 1, 1997
The section of the Worldwide Capital Goods Fund and Worldwide Communications
Fund's prospectus entitled "The Funds and Their Management" is amended to (1)
delete the tenth paragraph and (2) insert the following new paragraph in its
place:
Out of its advisory fee which it receives from the Funds, IFG pays
INVESCO Trust, as sub-adviser to the Funds, a monthly fee, which is
computed at the following annual rates: prior to January 1, 1998, 0.325%
on the first $500 million of each Fund's average net assets, 0.275% on the
next $500 million of each Fund's average net assets and 0.225% on each
Fund's average net assets in excess of $1 billion; and effective January
1, 1998, 0.2167% on the first $500 million of the Fund's average net
assets, 0.1833% on the next $500 million of the Fund's average net assets,
and 0.15% on the Fund's average net assets in excess of $1 billion.
The Section of the European Small Company Fund's prospectus entitled "The Fund
and Its Management" is amended to (1) delete the eleventh paragraph and (2)
insert the following new paragraph in its place:
Out of its advisory fee which it receives from the Fund, IFG pays
IAML, as sub-adviser to the Fund, a monthly fee, which is computed at the
following annual rates: prior to January 1, 1998, 0.375% on the first $500
million of the Fund's average net assets, 0.325% on the next $500 million
of the Fund's average net assets and 0.275% on the Fund's average net
assets in excess of $1 billion; and effective January 1, 1998, 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 average net assets, and 0.1833% on each
Fund's average net assets in excess of $1 billion. No fee is paid by the
Funds to INVESCO Trust.
The Section of the Latin American Growth Fund's prospectus entitled "The Fund
and Its Management" is amended to (1) delete the eleventh paragraph and (2)
insert the following new paragraph in its place:
Out of its advisory fee which it receives from the Fund, IFG pays
IAML, as sub-adviser to the Fund, a monthly fee, which is computed at the
following annual rates: prior to January 1, 1998, 0.375% on the first $500
million of the Fund's average net assets, 0.325% on the next $500 million
of the Fund's average net assets and 0.275% on the Fund's average net
assets in excess of $1 billion; and effective January 1, 1998, 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 0.1833% on the
Fund's average net assets in excess of $1 billion. No fee is paid by the
Fund to IAML.
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The Section of the Asian Growth Fund's prospectus entitled "The Fund and Its
Management" is amended to (1) delete the tenth paragraph and (2) insert the
following new paragraph in its place:
Out of its advisory fee which it receives from the Fund, IFG pays
INVESCO Asia, as sub-adviser to the Fund, a monthly fee, which is computed
at the following annual rates: prior to January 1, 1998, 0.375% on the
first $500 million of the Fund's average net assets, 0.325% on the next
$500 million of the Fund's average net assets and 0.275% on the Fund's
average net assets in excess of $1 billion; and effective January 1, 1998,
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 0.1833% on
the Fund's average net assets in excess of $1 billion. No fee is paid by
the Fund to INVESCO Asia.
The Section of the Realty Fund's prospectus entitled "The Fund and Its
Management" is amended to (1) delete the fifth paragraph and (2) insert the
following new paragraph in its place:
The Fund pays IFG a monthly management fee which is based upon a
percentage of the Fund's average net assets determined daily. The
management fee is computed at the annual rate of 0.75% of the Fund's
average net assets. Out of this advisory fee, IFG pays to IRAI, as
sub-adviser to the Fund, an amount computed at the following annual rates:
prior to January 1, 1998, 0.30% of the Fund's average net assets, and
effective January 1, 1998, 0.25% of the Fund's average net assets. No fee
is paid by the fund to IRAI.
The Section of the S&P 500 Index Fund's prospectus entitled "The Fund and Its
Management" is amended to (1) delete the seventh paragraph and (2) insert the
following new paragraph in its place:
The Fund pays IFG a monthly management fee which is based upon a
percentage of the Fund's average net assets determined daily. The
management fee is computed at the annual rate of 0.25% of the Fund's
average net assets. Out of this advisory fee, IFG pays to World, as
sub-adviser to the Fund, an amount computed at the following annual rates:
0.07% on the first $10 million of the Fund's average net assets, 0.05% on
the next $40 million of the Fund's average net assets, and 0.03% on the
Fund's average net assets in excess of $50 million. No fee is paid by the
Fund to World.
The date of this Supplement is December 31, 1997
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INVESCO SPECIALTY FUNDS, INC.
Supplement to Statement of Additional Information
dated December 1, 1997
The Section of the above Company's Statement of Additional Information entitled
"The Funds and Their Management -- Sub- Advisory Agreement" is amended to (1)
delete the seventh paragraph and (2) substitute the following new paragraph in
its place:
The Capital Goods and Communications Sub-Agreement provides that as
compensation for its services, INVESCO Trust shall receive from IFG, at
the end of each month, a fee based upon the average daily value of the
Capital Goods Fund's and Communications Fund's net assets at the following
annual rates: prior to January 1, 1998, 0.325% on the first $500 million
of each Fund's average net assets, 0.275% on the next $500 million of each
Fund's average net assets, and 0.225% on each Fund's average net assets in
excess of $1 billion; and effective January 1, 1998, 0.2167% on the first
$500 million of each Fund's average net assets, 0.1833% on the next $500
million of each Fund's average net assets, and 0.15% on each Fund's
average net assets in excess of $1 billion. The European Small Company and
Latin American Growth Sub- Agreement provides that as compensation for its
services, IAML shall receive from IFG, at the end of each month, a fee
based upon the average daily value of the European Small Company Fund's
and Latin American Growth Fund's net assets at the following annual rates:
prior to January 1, 1998, 0.375% on the first $500 million of each Fund's
average net assets, 0.325% on the next $500 million of each Fund's average
net assets, and 0.275% on each Fund's average net assets in excess of $1
billion; and effective January 1, 1998, 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 average net assets, and 0.1833% on each Fund's average net assets
in excess of $1 billion. The Asian Growth Sub-Agreement provides that as
compensation for its services, INVESCO Asia shall receive from IFG, at the
end of each month, a fee based upon the average daily value of the Asian
Growth Fund's net assets at the following annual rates: prior to January
1, 1998, 0.375% on the first $500 million of the Fund's average net
assets, 0.325% on the next $500 million of the Fund's average net assets,
and 0.275% on the Fund's average net assets in excess of $1 billion; and
effective January 1, 1998, 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 0.1833% on the Fund's average net assets in excess of $1
billion. The Realty Sub-Agreement provides that as compensation for its
services, IRAI shall receive from IFG, at the end of each month, a fee
based upon the average daily value of the Realty Fund's net assets at the
following annual rates: prior to January 1, 1998, 0.30% of the Fund's
average daily net assets and effective January 1, 1998, 0.25% on the
Fund's average daily net assets. The S&P 500 Index Fund Sub-Agreement
provides that as compensation for its services, World shall receive from
IFG, at the end of each month, a fee based upon the average daily value of
the S&P 500 Index Fund's net assets at the rate of 0.07% on the first
$10 million of the Fund's average net assets, 0.05% on the next $40
million of the Fund's average net assets, and 0.03% on the Fund's average
net assets in excess of $50 million.
The date of this supplement is December 31, 1997.
