0000950123-11-080455.txt : 20110826
0000950123-11-080455.hdr.sgml : 20110826
20110826142513
ACCESSION NUMBER: 0000950123-11-080455
CONFORMED SUBMISSION TYPE: NSAR-A
PUBLIC DOCUMENT COUNT: 4
CONFORMED PERIOD OF REPORT: 20110630
FILED AS OF DATE: 20110826
DATE AS OF CHANGE: 20110826
EFFECTIVENESS DATE: 20110826
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Invesco Van Kampen Exchange Fund
CENTRAL INDEX KEY: 0000005100
IRS NUMBER: 741908071
STATE OF INCORPORATION: CA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: NSAR-A
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-02611
FILM NUMBER: 111059370
BUSINESS ADDRESS:
STREET 1: 1555 PEACHTREE STREET, N.E.
STREET 2: SUITE 1800
CITY: ATLANTA
STATE: 2Q
ZIP: 30309
BUSINESS PHONE: 404-439-3217
MAIL ADDRESS:
STREET 1: 1555 PEACHTREE STREET, N.E.
STREET 2: SUITE 1800
CITY: ATLANTA
STATE: 2Q
ZIP: 30309
FORMER COMPANY:
FORMER CONFORMED NAME: VAN KAMPEN EXCHANGE FUND
DATE OF NAME CHANGE: 20030731
FORMER COMPANY:
FORMER CONFORMED NAME: AMERICAN CAPITAL EXCHANGE FUND
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: AMERICAN GENERAL EXCHANGE FUND
DATE OF NAME CHANGE: 19831101
0000005100
S000012144
VAN KAMPEN EXCHANGE FUND
C000033111
VAN KAMPEN EXCHANGE FUND
NSAR-A
1
answer.fil
NSAR-A
PAGE 1
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PAGE 2
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SIGNATURE KELLI GALLEGOS
TITLE ASSISTANT TREASURER AND ASSISTANT VICE PRESIDENT
EX-99.77C VOTES
2
h84323ex77c.txt
EX-99.77C
Sub-Item 77C
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
INVESCO VAN KAMPEN EXCHANGE FUND
An Annual Meeting ("Meeting") of Partners of Invesco Van Kampen Exchange Fund
was held on Friday, June 17, 2011. The Meeting was held for the following
purpose:
(1) To elect eleven Managing General Partners, each of whom will serve until
the next annual meeting of Partners or until a successor is duly elected
and qualified.
The results of the voting on the above matters were as follows:
Votes
Matter Votes For Withheld
--------------------- --------- --------
(1) David C. Arch 120,422 2,457
Jerry D. Choate 120,422 2,457
Rodney Dammeyer 120,422 2,457
Linda Hutton Heagy 120,422 2,457
R. Craig Kennedy 120,422 2,457
Howard J. Kerr 120,422 2,457
Colin D. Meadows 120,422 2,457
Jack E. Nelson 120,422 2,457
Hugo F. Sonnenschein 120,422 2,457
Wayne W. Whalen 120,422 2,457
Suzanne H. Woolsey 120,422 2,457
Votes Broker
Votes For Against Abstentions Non-Votes
--------- ------- ----------- ---------
(2) To ratify changing the name of the Fund to
Invesco Van Kampen Exchange Fund 120,147 -0- 2,731 -0-
EX-99.77E LEGAL
3
h84323ex77e.txt
EX-99.77E
Sub-Item 77E
LEGAL PROCEEDINGS
INVESCO VAN KAMPEN EXCHANGE FUND
Settled Enforcement Actions and Investigations Related to Market Timing
On October 8, 2004, Invesco Advisers, Inc. (Invesco), successor by merger to
Invesco Aim Advisors, Inc. and INVESCO Funds Group, Inc. (IFG), both former
investment advisers, along with Invesco Aim Distributors, n/k/a Invesco
Distributors, Inc. (Invesco Distributors) reached final settlements with certain
regulators, including the Securities and Exchange Commission (SEC), the New York
Attorney General and the Colorado Attorney General, to resolve civil enforcement
actions and/or investigations related to market timing and related activity in
the AIM Funds (n/k/a the Invesco Funds), including those formerly advised by
IFG. As part of the settlements, a $325 million fair fund ($110 million of
which is civil penalties) was created to compensate shareholders harmed by
market timing and related activity in funds formerly advised by IFG.
Additionally, Invesco and Invesco Distributors created a $50 million fair fund
($30 million of which is civil penalties) to compensate shareholders harmed by
market timing and related activity in funds advised by Invesco, which was done
pursuant to the terms of the settlement. The methodology of the fair funds
distributions was determined by Invesco's independent distribution consultant
(IDC Plan), in consultation with Invesco and the independent trustees of the
Invesco Funds, and approved by the SEC on May 23, 2008.
The IDC Plan provides for distribution to all eligible investors, for the
periods spanning January 1, 2000 through July 31, 2003 (for the IFG Fair Fund)
and January 1, 2001 through September 30, 2003 (for the AIM Fair Fund), their
proportionate share of the applicable Fair Fund to compensate such investors for
injury they may have suffered as a result of market timing in the affected
funds. The IDC Plan includes a provision for any residual amounts in the Fair
Funds to be distributed in the future to the affected funds. Further details
regarding the IDC Plan and distributions thereunder are available on Invesco's
Web site, available at http://www.invesco.com/us.
Pending Regulatory Action Alleging Market Timing
On August 30, 2005, the West Virginia Office of the State Auditor -
Securities Commission (WVASC) issued a Summary Order to Cease and Desist and
Notice of Right to Hearing to Invesco and Invesco Distributors (collectively,
Invesco) (Order No. 05-1318). The WVASC made findings of fact that Invesco
allegedly entered into certain arrangements permitting market timing of the
Invesco Funds and failed to disclose these arrangements in the prospectuses for
such Funds, and conclusions of law to the effect that Invesco violated the West
Virginia securities laws. The WVASC ordered Invesco to cease any further
violations and sought to impose monetary sanctions, including restitution to
affected investors, disgorgement of fees, reimbursement of investigatory,
administrative and legal costs and an "administrative assessment" to be
determined by the Commissioner. Invesco is not aware of any further efforts by
WVASC to pursue the prosecution of this matter. Invesco settled all other
regulatory investigations related to market timing, resulting in: 1) affected
shareholders receiving restitution; 2) Invesco paying disgorgement and civil
penalties; and 3) Invesco taking remedial actions to prevent market timing.
Accordingly, Invesco considers this matter resolved.
At the present time, management of Invesco and the Invesco Funds are unable to
estimate the impact, if any, that the outcome of the regulatory matters
described herein may have on Invesco, Invesco Distributors or the Invesco Funds.
EX-99.77Q1 OTHR EXHB
4
h84323ex77q1e.txt
EX-99.77Q1
SUB-ITEM 77Q1(E)
MEMORANDUM OF AGREEMENT
(EXPENSE LIMITATIONS)
This Memorandum of Agreement is entered into as of the Effective Date on
the attached exhibits (the "Exhibits"), between Invesco Van Kampen Advantage
Municipal Income Trust II, Invesco Van Kampen Bond Fund, Invesco Van Kampen
California Value Municipal Income Trust, Invesco Van Kampen Dynamic Credit
Opportunities Fund, Invesco Van Kampen Exchange Fund, Invesco Van Kampen High
Income Trust II, Invesco Van Kampen Massachusetts Value Municipal Income Trust,
Invesco Van Kampen Municipal Opportunity Trust, Invesco Van Kampen Municipal
Trust, Invesco Van Kampen Ohio Quality Municipal Trust, Invesco Van Kampen
Pennsylvania Value Municipal Income Trust, Invesco Van Kampen Select Sector
Municipal Trust, Invesco Van Kampen Senior Income Trust, Invesco Van Kampen
Senior Loan Fund, Invesco Van Kampen Trust for Insured Municipals, Invesco Van
Kampen Trust for Investment Grade Municipals, Invesco Van Kampen Trust for
Investment Grade New Jersey Municipals and Invesco Van Kampen Trust for
Investment Grade New York Municipals (each a "Trust" or, collectively, the
"Trusts"), on behalf of the funds listed on the Exhibits to this Memorandum of
Agreement (the "Funds"), and Invesco Advisers, Inc. ("Invesco"). Invesco shall
and hereby agrees to waive fees or reimburse expenses of each Fund, on behalf of
its respective classes as applicable, severally and not jointly, as indicated in
the attached Exhibit.
For and in consideration of the mutual terms and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Trusts and Invesco agree as follows:
For the Contractual Limits (listed in Exhibit A), the Trusts and Invesco
agree until at least the expiration date set forth on the attached Exhibit A
(the "Expiration Date") that Invesco will waive its fees or reimburse expenses
to the extent that total annual fund operating expenses after fee waiver and/or
expense reimbursement of a class of a Fund (excluding (i) interest; (ii) taxes;
(iii) dividend expense on short sales; (iv) extraordinary or non-routine items;
(v) expenses that each Fund has incurred but did not actually pay because of an
expense offset arrangement, if applicable) exceed the rate, on an annualized
basis, set forth on the Exhibits of the average daily net assets allocable to
such class. Acquired fund fees and expenses are not fees or expenses incurred
by a fund directly but are expenses of the investment companies in which a fund
invests. These fees and expenses are incurred indirectly through the valuation
of a fund's investment in these investment companies. Acquired fund fees and
expenses are required to be disclosed and included in the total annual fund
operating expenses in the prospectus fee table. As a result, the net total
annual fund operating expenses shown in the prospectus fee table may exceed the
expense limits reflected in Exhibit A. With regard to the Contractual Limits,
the Board of Trustees of the Trust and Invesco may terminate or modify this
Memorandum of Agreement prior to the Expiration Date only by mutual written
consent. Invesco will not have any right to reimbursement of any amount so
waived or reimbursed.
For the Contractual Limits, each of the Trusts and Invesco agree to review
the then-current expense limitations for each class of each Fund listed on the
Exhibits on a date prior to the Expiration Date to determine whether such
limitations should be amended, continued or terminated. The expense limitations
will expire upon the Expiration Date unless the Trusts and Invesco have agreed
to continue them. The Exhibits will be amended to reflect any such agreement.
It is expressly agreed that the obligations of each Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets and
property of each Fund, as provided in each Trust's Agreement and Declaration of
Trust. The execution and delivery of this Memorandum of Agreement have been
authorized by the Trustees of the Trusts, and this Memorandum of Agreement has
been executed and delivered by an authorized officer of the Trusts acting as
such; neither such authorization by such Trustees nor such execution and
delivery by such officer shall be deemed to have been made by any of them
individually or to impose any liability on any of them personally, but shall
bind only the assets and property of the Funds, as provided in each Trust's
Agreement and Declaration of Trust.
IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
INVESCO VAN KAMPEN BOND FUND
INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
INVESCO VAN KAMPEN EXCHANGE FUND
INVESCO VAN KAMPEN HIGH INCOME TRUST II
INVESCO VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
INVESCO VAN KAMPEN MUNICIPAL TRUST
INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
INVESCO VAN KAMPEN SENIOR INCOME TRUST
INVESCO VAN KAMPEN SENIOR LOAN FUND
INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
on behalf of the Funds listed in the Exhibits
to this Memorandum of Agreement
By: /s/ John M. Zerr
------------------------------------
Title: Senior Vice President
INVESCO ADVISERS, INC.
By: /s/ John M. Zerr
------------------------------------
Title: Senior Vice President
2
as of November 16, 2010
EXHIBIT "A" - RETAIL FUNDS(1)
INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Advantage Municipal Income Trust Contractual 1.05% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN BOND FUND
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
-------------------- ------------ ----------- ----------------- ----------
Invesco VK Bond Fund Contractual 0.58% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK California Value Muni Income Trust Contractual 1.05% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN DYNAMICS CREDIT OPPORTUNITIES FUND
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Dynamics Credit Opportunities Fund Contractual 2.22% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN EXCHANGE FUND
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------ ------------ ----------- ----------------- ----------
Invesco VK Exchange Fund Contractual 0.52% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN HIGH INCOME TRUST II
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------- ------------ ----------- ----------------- ----------
Invesco VK High Income Trust II Contractual 2.02% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN MASSACHUSETTES VALUE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------------------ ------------ ----------- ----------------- ----------
Invesco VK Massachusetts Value Municipal Income Trust Contractual 1.18% June 1, 2010 June 30, 2012
3
as of November 16, 2010
INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Municipal Opportunities Trust Contractual 1.03% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN MUNICIPAL TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
-------------------------- ------------ ----------- ----------------- ----------
Invesco VK Municipal Trust Contractual 0.94% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Ohio Quality Municipal Trust Contractual 1.02% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---------------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Pennsylvania Value Municipal Income Trust Contractual 0.98% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL RUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Select Sector Municipal Trust Contractual 1.07% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN SENIOR INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------ ------------ ----------- ----------------- ----------
Invesco VK Senior Income Trust Contractual 2.07% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN SENIOR LOAN FUND
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------- ------------ ----------- ----------------- -------------
Invesco VK Senior Loan Fund
Class A Contractual 1.53%(2) June 1, 2010 June 30, 2012
Class B Contractual 2.28%(2) June 1, 2010 June 30, 2012
Class C Contractual 2.28%(2) June 1, 2010 June 30, 2012
Class IB Contractual 1.53% June 1, 2010 June 30, 2012
Class IC Contractual 1.53%(2) June 1, 2010 June 30, 2012
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as of November 16, 2010
INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Trust for Insured Municipals Contractual 1.10% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------------ ------------ ----------- ----------------- ----------
Invesco VK Trust for Investment Grade Municipals Contractual 0.99% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Trust for Investment Grade New Jersey Municipals Contractual 1.08% June 1, 2010 June 30, 2012
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
--------------------------------------------------------- ------------ ----------- ----------------- ----------
Invesco VK Trust for Investment Grade New York Municipals Contractual 1.02% June 1, 2010 June 30, 2012
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1 The total operating expenses of any class of shares established after the
date of this Memorandum of Agreement will be limited to the amount
established for Class A Shares plus the difference between the new class
12b-1 rate and the Class A 12b-1 rate.
2 The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributorors, Inc.
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