INVESCO SPECIALTY FUNDS, INC.
INVESCO LATIN AMERICAN GROWTH FUND
Supplement to Prospectuses dated December 1, 1998
The section of the above named Fund's Prospectus entitled "Annual Fund Expenses"
is amended to (1) delete the first sentence of the first paragraph of the
section and (2) substitute the following sentence in its place:
The Fund is no-load; there are no fees to purchase, exchange or redeem
shares other than fees to redeem or exchange shares held three months or
less (see "Shareholder Transaction Expenses").
In addition, the section of the Fund's Prospectus entitled "Annual Fund
Expenses" is amended to (1) delete the section of the table entitled
"Shareholder Transaction Expenses" and (2) substitute the following section in
its place:
Shareholder Transaction Expenses
Sales load "charge" on purchases None
Sales load "charge" on reinvested dividends None
Redemption fees 2.00*
Exchange fees 2.00*
In addition, the section of the Fund's Prospectus entitled "Annual Fund
Expenses" is amended to (1) delete the paragraph immediately following the table
and (2) substitute the following paragraph in its place:
* A 2% fee shall be imposed on redemptions or exchanges of shares held
three months or less.
The section of the Fund's Prospectus entitled "Performance Data" is amended to
(1) delete the last sentence of the first paragraph and (2) substitute the
following in its place:
However, the total return computation may be affected as a result of the
redemption or exchange fee which is retained by the Fund to offset
transaction costs and other expenses associated with short-term
redemptions and exchanges. A 2% fee shall be imposed on redemptions or
exchanges of shares held three months or less.
The section of the Fund's Prospectus entitled "Services Provided by the Fund -
Exchange Policy" is amended to (1) delete the second paragraph and (2)
substitute the following paragraph in its place:
Upon an exchange of shares held three months or less (other than shares
acquired through reinvestment of dividends or other distributions), a fee
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of 2% of the current net asset value of the shares being exchanged will be
assessed and retained by the Fund for the benefit of the remaining
shareholders. This fee is intended to encourage long-term investment in
the Fund, to avoid transaction and other expenses caused by early
redemptions, and to facilitate portfolio management. The fee is currently
waived for institutional, qualified retirement plan and other shareholders
investing through omnibus accounts, due to certain economies associated
with these accounts. However, the Fund reserves the right to impose
redemption fees on shares held by such shareholders at any time if
warranted by the Fund's future cost of processing redemptions. The
redemption fee may be modified or discontinued at any time or from time to
time. This fee is not a deferred sales charge, is not a commission paid to
INVESCO, and does not benefit INVESCO in any way. The fee applies to
redemptions from the Fund and exchanges into any of the other no-load
mutual funds which are also advised by INVESCO and distributed by IDI. The
Fund will use the "first-in, first-out" method to determine the holding
period. Under this method, the date of redemption or exchange will be
compared with the earliest purchase date of shares held in the account. If
this holding period is less than three months, the redemption/exchange fee
will be assessed on the current net asset value of those shares.
The section of the Fund's Prospectus entitled "How To Redeem Shares" is amended
to (1) delete the first paragraph and (2) substitute the following paragraph in
its place:
Shares of the Fund may be redeemed at any time at their current net asset
value per share next determined after a request in proper form is received
at the Fund's office. (See "How Shares Can Be Purchased.") Net asset value
per share at the time of redemption may be more or less than the price you
paid to purchase your shares, depending primarily upon the Fund's
investment performance. Upon an exchange or redemption of shares held
three months or less (other than shares acquired through reinvestment of
dividends or other distributions), a fee of 2% of the current net asset
value of the shares being exchanged or redeemed will be assessed and
retained by the Fund for the benefit of the remaining shareholders. This
fee is intended to encourage long-term investment in the Fund, to avoid
transaction and other expenses caused by early redemptions, and to
facilitate portfolio management. The fee is currently waived for
institutional, qualified retirement plan and other shareholders investing
through omnibus accounts, due to certain economies associated with these
accounts. However, the Fund reserves the right to impose redemption fees
on shares held by such shareholders at any time if warranted by the Fund's
future cost of processing redemptions. The redemption fee may be modified
or discontinued at any time or from time to time. This fee is not a
deferred sales charge, is not a commission paid to INVESCO, and does not
benefit INVESCO in any way. The fee applies to redemptions from the Fund
and exchanges into any of the other no-load mutual funds which are also
advised by INVESCO and distributed by IDI. The Fund will use the
"first-in, first-out" method to determine the holding period. Under this
method, the date of redemption or exchange will be compared with the
earliest purchase date of shares held in the account. If this holding
period is less than three months, the redemption/exchange fee will be
assessed on the current net asset value of those shares.
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This Supplement supersedes the Supplement dated April 22, 1999.
The date of this Supplement is September 10, 1999.
