INVESCO SPECIALTY FUNDS, INC.
INVESCO Asian Growth Fund
INVESCO Latin American Growth Fund
Supplement to Prospectuses dated December 1, 1998
Investments made after April 30, 1999 will be subject to the following
provisions:
The section of the above named Funds' Prospectuses 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 six months or
less (see "Shareholder Transaction Expenses").
In addition, the section of the Funds' Prospectuses 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 2.00/1.00%*
Exchange fees 2.00/1.00%*
In addition, the section of the Funds' Prospectuses entitled "Annual Fund
Expenses" is amended to (1) delete the paragraph immediately following the table
and (2) substitute the following paragraph in its place:
*There is a fee 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 and a 1% fee shall be imposed on redemptions or exchanges of
shares held between three and six months. This fee may be waived at the
discretion of INVESCO.
The section of the Funds' Prospectuses 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, and a 1% fee shall be
imposed on redemptions or exchanges of shares held between three and six
months.
Effective immediately, the section of the Funds' Prospectuses entitled "Services
Provided By the Fund - Shareholder Accounts" is amended to (1) delete the second
and third sentence of the section and (2) substitute the following in its place:
INVESCO no longer issues share certificates. If you are selling shares
previously issued in certificate form, you need to include the
certificates along with your redemption/exchange request.
<PAGE>
The section of the Funds' Prospectuses 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 or held between three
and six months (other than shares acquired through reinvestment of
dividends or other distributions), a fee of 2% and 1%, respectively, 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. This fee may be waived at the discretion
of INVESCO. 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 six months, the appropriate
redemption/exchange fee will be assessed on the current net asset value of
those shares.
The section of the Funds' Prospectuses 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 or held between three and six months (other than
shares acquired through reinvestment of dividends or other distributions),
a fee of 2% and 1%, respectively, 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. This fee may be waived at the discretion of INVESCO. 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 six months, the appropriate redemption/exchange fee
will be assessed on the current net asset value of those shares.
Effectively immediately, the section of the Funds' Prospectuses entitled "How To
Redeem Shares" is amended to (1) delete the first sentence of the second
paragraph and (2) substitute the following in its place:
If the shares to be redeemed were previously issued in stock certificate
form, a written request for redemption signed by the registered
shareholder(s) and the certificates must be sent to INVESCO Funds Group,
Inc., Post Office Box 173706, Denver, CO 80237. If you have lost your
certificates, please call us.
The date of this Supplement is March 1, 1999.
<PAGE>
INVESCO SPECIALTY FUNDS, INC.
INVESCO European Small Company Fund
Supplement to Prospectus Dated December 1, 1998
Investments made after April 30, 1999 are subject to the following provisions:
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 six months or
less.
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 2.00/1.00%*
Exchange fees 2.00/1.00%*
In addition, the section of the Fund's Prospectus entitled "Annual Fund
Expenses" is amended to (1) add a paragraph immediately following the table as
follows:
*There is a fee 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 and a 1% fee shall be imposed on redemptions or exchanges of
shares held between three and six months. This fee may be waived at the
discretion of INVESCO.
The section of the Fund's Prospectus entitled "Performance Data" is amended to
(1) delete the last sentence of the first paragraph and (2) replace it with the
following:
The Fund charges no sales loads that would affect the total return
computation. 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, and a 1% fee shall be
imposed on redemptions or exchanges of shares held between three and six
months.
Effectively immediately, the section of the Fund's Prospectus entitled "Services
Provided By the Fund - Shareholder Accounts" is amended to (1) delete the second
and third sentence of the section and (2) substitute the following in its place:
INVESCO no longer issues share certificates. If you are selling shares
previously issued in certificate form, you need to include the
certificates along with your redemption/exchange request.
<PAGE>
The section of the Fund's Prospectus entitled "Services Provided by the Fund -
Exchange Policy" is amended to add the following paragraph immediately following
the first paragraph:
Upon an exchange of shares held three months or less or held between three
and six months (other than shares acquired through reinvestment of
dividends or other distributions), a fee of 2% and 1%, respectively, 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. This fee may be waived at the discretion
of INVESCO. 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 six months, the appropriate
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 or held between three and six months (other than
shares acquired through reinvestment of dividends or other distributions),
a fee of 2% and 1%, respectively, 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. This fee may be waived at the discretion of INVESCO. 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 six months, the appropriate redemption/exchange fee
will be assessed on the current net asset value of those shares.
<PAGE>
Effective immediately, the section of the Fund's Prospectus entitled "How To
Redeem Shares" is amended to (1) delete the first sentence of the second
paragraph and (2) substitute the following in its place:
If the shares to be redeemed were previously issued in stock certificate
form, a written request for redemption signed by the registered
shareholder(s) and the certificates must be sent to INVESCO Funds Group,
Inc., Post Office Box 173706, Denver, CO 80237. If you have lost your
certificates, please call us.
The date of this Supplement is March 1, 1999.
