0001258897-13-000624.txt : 20131030 0001258897-13-000624.hdr.sgml : 20131030 20131030115240 ACCESSION NUMBER: 0001258897-13-000624 CONFORMED SUBMISSION TYPE: NSAR-A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20130831 FILED AS OF DATE: 20131030 DATE AS OF CHANGE: 20131030 EFFECTIVENESS DATE: 20131030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Invesco Trust for Investment Grade Municipals CENTRAL INDEX KEY: 0000880892 IRS NUMBER: 363797841 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NSAR-A SEC ACT: 1940 Act SEC FILE NUMBER: 811-06471 FILM NUMBER: 131178329 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: Invesco Van Kampen Trust for Investment Grade Municipals DATE OF NAME CHANGE: 20100601 FORMER COMPANY: FORMER CONFORMED NAME: VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS DATE OF NAME CHANGE: 20040707 FORMER COMPANY: FORMER CONFORMED NAME: VAN KAMPEN TRUST FOR INVSTMENT GRADE MUNICIPALS DATE OF NAME CHANGE: 19981006 NSAR-A 1 606601answer.fil NSAR-A PAGE 1 000 A000000 08/31/2013 000 C000000 0000880892 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS 001 B000000 811-06471 001 C000000 8002415477 002 A000000 1555 PEACHTREE ST., NE 002 B000000 ATLANTA 002 C000000 GA 002 D010000 30309 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 Invesco Advisers, Inc. 008 B000001 A 008 C000001 801-33949 008 D010001 Atlanta 008 D020001 GA 008 D030001 30309 008 A000002 Invesco Asset Management Deutschland GmbH 008 B000002 S 008 C000002 801-67712 008 D010002 Frankfurt 008 D050002 Germany 008 D060002 60313 008 A000003 Invesco Asset Management Limited 008 B000003 S 008 C000003 801-50197 008 D010003 London 008 D050003 United Kingdom 008 D060003 EC2A1AG 008 A000004 Invesco Asset Management (Japan) Ltd. 008 B000004 S 008 C000004 801-52601 008 D010004 Tokyo 008 D050004 Japan 008 D060004 105-6025 008 A000005 Invesco Australia Limited 008 B000005 S 008 C000005 801-68638 008 D010005 Melbourne PAGE 2 008 D050005 Australia 008 D060005 3000 008 A000006 Invesco Hong Kong Limited 008 B000006 S 008 C000006 801-47856 008 D010006 HONG KONG 008 D050006 HONG KONG 008 A000007 Invesco Senior Secured Management, Inc. 008 B000007 S 008 C000007 801-38119 008 D010007 NEW YORK 008 D020007 NY 008 D030007 10036 008 D040007 2727 008 A000008 Invesco Canada Ltd. 008 B000008 S 008 C000008 801-62166 008 D010008 TORONTO 008 D050008 CANADA 008 D060008 M2N 6X7 010 A000001 Invesco Management Group Inc. 010 B000001 33-67866 010 C010001 Houston 010 C020001 TX 010 C030001 77046 012 A000001 COMPUTERSHARE TRUST COMPANY, N.A. 012 B000001 85-11340 012 C010001 PROVIDENCE 012 C020001 RI 012 C030001 02940 012 C040001 3078 013 A000001 PricewaterhouseCoopers, LLP 013 B010001 HOUSTON 013 B020001 TX 013 B030001 77002 013 B040001 5678 015 A000001 STATE STREET TRUST AND BANK, CO. 015 B000001 C 015 C010001 BOSTON 015 C020001 MA 015 C030001 02111 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 131 019 C000000 INVESCOFDS 021 000000 0 022 A000001 CITIGROUP GLOBAL MARKETS INC. 022 B000001 11-2418191 022 C000001 28045 022 D000001 20499 PAGE 3 022 A000002 J.P. 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078 000000 N 080 C000000 0 081 B000000 0 082 B000000 0 083 B000000 0 084 B000000 0 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 087 A010000 COMMON 087 A020000 46131M106 087 A030000 VGM 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 N SIGNATURE KELLI GALLEGOS TITLE ASST VP & TREASURER EX-99.77C VOTES 2 dex9977c.txt EX-99.77C Sub-Item 77C SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS An Annual Meeting ("Meeting") of Shareholders of Invesco Trust for Investment Grade Municipals (the "Trust") was held on August 2, 2013. The Meeting was held for the following purpose: (1). Elect three Class III Trustees, two by the holders of Common Shares and holders of Preferred Shares of the Trust voting together as a single class, and one by the holders of Preferred Shares of the Trust, voting separately, each of whom will serve for a three-year term or until a successor has been duly elected and qualified. The results of the voting on the above matter were as follows: VOTES VOTES MATTER VOTES FOR AGAINST ABSTAIN ------ ---------- --------- ------- (1) R. Craig Kennedy............................. 46,408,717 2,757,773 16,285 Colin D. Meadows............................. 46,412,083 2,749,362 21,331 Hugo F. Sonnenschein (P)..................... 2,733 0 0 -------- (P) Election of Trustee by preferred shareholders only. EX-99.77E LEGAL 3 dex9977e.txt EX-99.77E SUB-ITEM 77E LEGAL PROCEEDINGS INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS A shareholder demand letter dated August 6, 2010, contains allegations that the Board and certain individuals breached their fiduciary duties to the Invesco Trust for Investment Grade Municipals and wasted Trust assets by causing the Trust to redeem Auction Rate Preferred Securities (ARPS) at par value at the expense of the Trust and common shareholders. The shareholders claimed that the Trust was not obliged to provide liquidity to preferred shareholders, the redemptions were improperly motivated to benefit the Adviser, and the market value and fair value of the ARPS were less than par at the time they were redeemed. The shareholders demand that 1) the Board take action against the Adviser and the individuals named to recover damages and 2) the Board refrain from authorizing further redemptions of repurchases of ARPS by the Trust at prices in excess of fair value or market value at the time of the transaction. According to the demand letter, if the Trust does not take appropriate action, the shareholders will commence a shareholder derivative action on behalf of the Trust. The Board formed a Special Litigation Committee ("SLC") to investigate these claims and to make a recommendation to the Board regarding whether pursuit of these claims is in the best interests of the Trusts. Upon completion of its evaluation, the SLC recommended that the Board reject the demands specified in the shareholder demand letters, after which the Board publicly announced on June 24, 2011, that it had adopted the SLC's recommendation and voted to reject the demands. The Trust received a different shareholder demand letter on July 5, 2011 regarding similar allegations. An original derivative shareholder complaint was filed by common shareholders on behalf of Invesco Trust for Investment Grade Municipals and was served on October 3, 2011 in Averbuch v. Arch. The complaint contained allegations that certain Trustees, Van Kampen Asset Management, and Morgan Stanley (collectively, "Defendants") breached their fiduciary duties by wasting Trust assets. More specifically, the Plaintiff alleged that the Defendants caused the Trust to redeem Auction Rate Preferred Securities ("ARPS") at their liquidation value, which was allegedly higher than market value. The Plaintiff further contended that the redemption was at the expense of the Trust and its common shareholders, unfairly benefitted preferred shareholders and Defendants, unjustly enriched Defendants, and was financed by the sale of Trust assets. Additionally, the Plaintiff claimed that the ARPS were replaced with less favorable financing. The Plaintiffs seek 1) declarations that the Defendants breached their fiduciary duties and were unjustly enriched; 2) an injunction against the advisors from serving as advisor to the Trust and collecting fees; 3) an injunction against individual Defendants from further breaches of fiduciary duties; and 4) monetary relief, expenses, and punitive damages. The Board informed Plaintiffs of the existing Special Litigation Committee ("SLC") and its investigation into the Trust's redemption of ARPS. On August 30, 2011, a quorum of the Independent Trustees adopted the SLC's recommendation and voted to reject the plaintiffs July 2011 demands underlying the Complaint. After the Plaintiffs filed an amended complaint, the Trust filed a motion to dismiss on April 1, 2013. On August 27, 2013 the motion to dismiss was granted with prejudice. On September 25, 2013, the Plaintiff filed a notice of appeal. Management of Invesco and the Trust believe that the outcome of the proceedings described above will not have a material adverse effect on the Trust or on the ability of Invesco to provide ongoing services to the Trust. EX-99.77Q1E OTHR EXH 4 dex9977q1e.txt EX-99.77Q1E Sub-Item 77Q1(e) AMENDMENT NO. 1 TO MASTER INVESTMENT ADVISORY AGREEMENT THIS Amendment dated December 3, 2012, amends the Master Investment Advisory Agreement (the "Agreement") dated August 27, 2012, by and between Invesco Van Kampen Trust for Investment Grade Municipals, a Delaware Statutory Trust (the "Trust"), and Invesco Advisers, Inc., a Delaware Corporation (the "Adviser"). RECITALS WHEREAS, the Trust desires to amend the Agreement to change the name of the Trust from Invesco Van Kampen Trust for Investment Grade Municipals to Invesco Trust for Investment Grade Municipals; NOW THEREFORE, the parties agree as follows: 1. Appendix A is deleted in its entirety and replaced with the following: "APPENDIX A COMPENSATION TO THE ADVISER The Trust shall pay the Adviser, out of its assets, as full compensation for all services rendered, an advisory fee for the Trust set forth below. Such fee shall be calculated by applying the following annual rates to the average daily manage assets of the Trust for the calendar year. FUND NAME ADVISORY FEE RATE --------- ------------------------------------ Invesco Trust for Investment Grade Municipals .55% on managed assets" "Managed assets" for this purpose means the Trust's net assets, plus assets attributable to outstanding preferred shares and the amount of any borrowings incurred for the purpose of leverage (whether or not such borrowed amounts are reflected in the Trust's financial statements for purposes of generally accepted accounting principles). IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in duplicate by their respective officers on the day and year first written above. INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS Attest: /s/ Peter Davidson By: /s/ John M. Zerr ------------------------------- ------------------------------ ASSISTANT SECRETARY Name: John M. Zerr Title: Senior Vice President (SEAL) Attest: INVESCO ADVISERS, INC. /s/ Peter Davidson By: /s/ John M. Zerr ------------------------------- ------------------------------ ASSISTANT SECRETARY Name: John M. Zerr Title: Senior Vice President (SEAL) 2 Sub-Item 77Q1(e) MEMORANDUM OF AGREEMENT (AFFILIATED MONEY MARKET FUND ADVISORY FEE WAIVER) This Memorandum of Agreement is entered into as of the dates indicated on Exhibit "A" between Invesco Advantage Municipal Income Trust II, Invesco Bond Fund, Invesco California Value Municipal Income Trust, Invesco Dynamic Credit Opportunities Fund, Invesco High Income Trust II, Invesco Municipal Opportunity Trust, Invesco Municipal Trust, Invesco Pennsylvania Value Municipal Income Trust, Invesco Senior Income Trust, Invesco Senior Loan Fund, Invesco Trust for Investment Grade Municipals, Invesco Trust for Investment Grade New York Municipals and Invesco Van Kampen Exchange Fund (each a "Fund" and collectively, the "Funds") and Invesco Advisers, Inc. ("Invesco"). 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 Funds and Invesco agree as follows: 1. Each Fund and Invesco agree that until the expiration date, if any, of the commitment set forth on the attached Exhibit "A" occurs, as such Exhibit "A" is amended from time to time, Invesco will waive advisory fees payable by an Investing Fund (defined below) in an amount equal to 100% of the net advisory fee Invesco receives on the Uninvested Cash (defined below) from the Affiliated Money Market Fund (defined below) in which the Investing Fund invests (the "Waiver"). i. Invesco's Fund Accounting Group will calculate, and apply, the Waiver monthly, based upon the average investment of Uninvested Cash made by the Investing Fund during the previous month in an Affiliated Money Market Fund. ii. The Waiver will not apply to those investing Funds that do not charge an advisory fee, either due to the terms of their advisory agreement, or as a result of contractual or voluntary fee waivers. iii. The Waiver will not apply to cash collateral for securities lending. For purposes of the paragraph above, the following terms shall have the following meanings: (a) "Affiliated Money Market Fund" - any existing or future fund managed by Invesco or its affiliates that holds itself out as a money market fund and complies with Rule 2a-7 under the Investment Company Act of 1940, as amended; (b) "Investing Fund" - any Fund investing Uninvested Cash in an Affiliated Money Market Fund; and (c) "Uninvested Cash" - cash available and uninvested by a Fund that may result from a variety of sources, including dividends or interest received on portfolio securities, unsettled securities transactions, strategic reserves, matured investments, proceeds from liquidation of investment securities, dividend payments, or new investor capital. 2. Neither a Fund nor Invesco may remove or amend the Waiver to a Fund's detriment prior to requesting and receiving the approval of the Fund's Board of Trustee/Managing General Partners to remove or amend such Waiver. Invesco will not have any right to reimbursement of any amount so waived. Subject to the foregoing paragraphs, each of the Funds and Invesco agree to review the then-current waivers for each Fund listed on the Exhibit on a date prior to the Expiration Date to determine whether such waivers should be amended, continued or terminated. The waivers will expire upon the Expiration Date unless the Funds and Invesco have agreed to continue them. The Exhibit will be amended to reflect any such agreement. Nothing in this Memorandum of Agreement is intended to affect any other memorandum of agreement executed by any Fund or Invesco with respect to any other fee waivers, expense reimbursements and/or expense limitations. IN WITNESS WHEREOF, each Fund and Invesco have entered into this Memorandum of Agreement as of the dates indicated on Exhibit "A". INVESCO ADVANTAGE MUNICIPAL INCOME TRUST II INVESCO BOND FUND INVESCO CALIFORNIA VALUE MUNICIPAL INCOME TRUST INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND INVESCO HIGH INCOME TRUST II INVESCO MUNICIPAL OPPORTUNITY TRUST INVESCO MUNICIPAL TRUST INVESCO PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST INVESCO SENIOR INCOME TRUST INVESCO SENIOR LOAN FUND INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS INVESCO TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS INVESCO VAN KAMPEN EXCHANGE FUND By: /s/ John M. Zerr ------------------------------ Title: Senior Vice President INVESCO ADVISERS, INC. By: /s/ John M. Zerr ------------------------------ Title: Senior Vice President 2 EXHIBIT "A" INVESCO ADVANTAGE MUNICIPAL INCOME TRUST II FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Advantage Municipal Income Trust May 15, 2012 June 30, 2014 INVESCO BOND FUND FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Bond Fund May 15, 2012 June 30, 2014 INVESCO CALIFORNIA VALUE MUNICIPAL INCOME TRUST FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco California Value Municipal Income Trust May 15, 2012 June 30, 2014 INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Dynamic Credit Opportunities Fund May 15, 2012 June 30, 2014 INVESCO HIGH INCOME TRUST II FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco High Income Trust II May 15, 2012 June 30, 2014 INVESCO MUNICIPAL OPPORTUNITY TRUST FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Municipal Opportunity Trust May 15, 2012 June 30, 2014 INVESCO MUNICIPAL TRUST FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Municipal Trust May 15, 2012 June 30, 2014 INVESCO PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Pennsylvania Value Municipal Income Trust May 15, 2012 June 30, 2014 A-1 INVESCO SENIOR INCOME TRUST FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Senior Income Trust May 15, 2012 June 30, 2014 INVESCO SENIOR LOAN FUND FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Senior Loan Fund May 15, 2012 June 30, 2014 INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Trust for Investment Grade Municipals May 15, 2012 June 30, 2014 INVESCO TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Trust for Investment Grade New York Municipals May 15, 2012 June 30, 2014 INVESCO VAN KAMPEN EXCHANGE FUND FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Invesco Van Kampen Exchange Fund May 15, 2012 June 30, 2014 A-2