Three Invesco funds enter into institutional class fee-limit agreement

By Toni Weeks

San Diego, Dec. 20 - Three Invesco funds entered into agreements on Dec. 19 with Invesco Advisers, Inc. to limit the operating expenses of the funds' institutional class shares, according to a 497 filing with the Securities and Exchange Commission.

The agreement affects the Invesco Global Small and Mid Cap Growth Fund, the Invesco International Core Equity Fund and the Invesco International Growth Fund.

Under the agreement, Kansas City, Mo.-based Invesco Advisers, the funds' investment adviser, will waive advisory fees and/or reimburse expenses as needed to limit total annual fund operating expenses for institutional class shares to 1.07% of average daily net assets. The agreement will terminate on Dec. 31, 2012.

Previously, no fee waiver agreement existed between the funds and Invesco. Total annual fund operating expenses for the Global Small and Mid Cap Growth, International Core Equity and International Growth funds were 0.93%, 0.91% and 1.03%, respectively. Invesco has adjusted fees, raising some and lowering others, in order to set a flat rate of 1.07% for all three funds.

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