07/05/2022 | Press release | Distributed by Public on 07/05/2022 04:01
Fees and Expenses of the Fund
|
1
|
Prospectus Summary
|
1
|
Financial Highlights
|
7
|
The Fund
|
8
|
Investment Objective and Principal
Investment Strategies of the Fund
|
8
|
Principal Risks of Investing in the Fund
|
15
|
Management of the Fund
|
21
|
Purchase of Shares
|
22
|
Repurchase of Shares
|
34
|
Distributions from the Fund
|
36
|
Shareholder Services
|
36
|
Description of Shares
|
38
|
Federal Income Taxation
|
39
|
Custodian, Dividend Disbursing Agent
and Transfer Agent
|
40
|
Independent Registered Public
Accounting Firm
|
40
|
Additional Information
|
40
|
Table of Contents for the Statement of
Additional Information
|
41
|
Obtaining Additional Information
|
Back Cover
|
Class A
Shares
|
Class C
Shares
|
Class Y
Shares
|
Class IB
Shares
|
Class IC
Shares
|
|
Shareholder Transaction Expenses
|
|||||
Maximum sales charge (load)
imposed on purchases (as a
percentage of offering price)
|
3.25%1
|
None
|
None
|
None
|
None
|
Maximum early withdrawal
charge (as a percentage of
the lesser of original
purchase price or repurchase
proceeds)
|
None2
|
1.00%
|
None
|
None3
|
None3
|
Annual Fund Operating Expenses
(as a percentage of net assets attributable to Shares and are based on expenses incurred
during the fiscal year ended February 28, 2022)
|
|||||
Investment advisory fee4
|
0.90%
|
0.90%
|
0.90%
|
0.90%
|
0.90%
|
Distribution and/or service
(12b-1) fees
|
0.25%
|
1.00%5
|
None
|
None
|
0.15%
|
Interest payments on
borrowed funds
|
0.24%
|
0.24%
|
0.24%
|
0.24%
|
0.24%
|
Total Other Expenses
|
0.58%
|
0.58%
|
0.58%
|
0.58%
|
0.58%
|
Administration fee4
|
0.25%
|
0.25%
|
0.25%
|
0.25%
|
0.25%
|
Other Expenses
|
0.33%
|
0.33%
|
0.33%
|
0.33%
|
0.33%
|
Total annual operating
expenses
|
1.97%
|
2.72%
|
1.72%
|
1.72%
|
1.87%
|
One
Year
|
Three
Years
|
Five
Years
|
Ten
Years
|
|
Class A Shares
|
$52
|
$92
|
$135
|
$255
|
One
Year
|
Three
Years
|
Five
Years
|
Ten
Years
|
|
Class C Shares
|
$38
|
$84
|
$144
|
$305
|
Class Y Shares
|
$17
|
$54
|
$93
|
$203
|
Class IB Shares
|
$17
|
$54
|
$93
|
$203
|
Class IC Shares
|
$19
|
$59
|
$101
|
$219
|
One
Year
|
Three
Years
|
Five
Years
|
Ten
Years
|
|
Class A Shares
|
$52
|
$92
|
$135
|
$255
|
Class C Shares
|
$28
|
$84
|
$144
|
$305
|
Class Y Shares
|
$17
|
$54
|
$93
|
$203
|
Class IB Shares
|
$17
|
$54
|
$93
|
$203
|
Class IC Shares
|
$19
|
$59
|
$101
|
$219
|
Net asset
value,
beginning
of period
|
Net
investment
income(a)
|
Net gains
(losses)
on securities
(both
realized and
unrealized)
|
Total from
investment
operations
|
Dividends
from net
investment
income
|
Return of
capital
|
Total
distributions
|
Net asset
value, end
of period
|
Total
return (b)
|
Net assets,
end of period
(000's omitted)
|
Ratio of
expenses
to average
net assets
with fee waivers
and/or
expenses
absorbed
|
Ratio of
expenses
to average net
assets without
fee waivers
and/or
expenses
absorbed
|
Supplemental
ratio of
expenses
to average
net assets
with fee waivers
(excluding
interest,
facilities and
maintenance
fees)
|
Ratio of net
investment
income
to average
net assets
|
Portfolio
turnover (c)
|
Total
borrowings
(000's omitted)
|
Asset
Coverage
per $1,000
unit of
senior
indebtedness (d)
|
|
Class A
|
|||||||||||||||||
Year ended 02/28/22
|
$6.43
|
$0.25
|
$0.10
|
$0.35
|
$(0.32)
|
$-
|
$(0.32)
|
$6.46
|
5.49%(e)(f)
|
$59,134
|
1.97%(e)
|
1.97%(e)
|
1.73%(e)
|
3.86%(e)
|
79%
|
$82,500
|
$6,509
|
Year ended 02/28/21
|
6.34
|
0.23
|
0.11
|
0.34
|
(0.24)
|
(0.01)
|
(0.25)
|
6.43
|
5.77(e)
|
59,821
|
2.05(e)
|
2.05(e)
|
1.71(e)
|
3.80(e)
|
64
|
82,500
|
6,835
|
Year ended 02/29/20
|
6.61
|
0.30
|
(0.26)
|
0.04
|
(0.31)
|
-
|
(0.31)
|
6.34
|
0.58(e)
|
74,640
|
2.41(e)
|
2.41(e)
|
1.66(e)
|
4.62(e)
|
55
|
115,000
|
5,677
|
Year ended 02/28/19
|
6.72
|
0.28
|
(0.10)
|
0.18
|
(0.29)
|
-
|
(0.29)
|
6.61
|
3.19(e)
|
90,789
|
2.46(e)
|
2.46(e)
|
1.71(e)
|
4.25(e)
|
44
|
160,000
|
5,009
|
Year ended 02/28/18
|
6.68
|
0.26
|
0.05
|
0.31
|
(0.26)
|
(0.01)
|
(0.27)
|
6.72
|
4.79(e)
|
108,897
|
2.24(e)
|
2.24(e)
|
1.73(e)
|
3.88(e)
|
53
|
170,000
|
5,354
|
Year ended 02/28/17
|
5.81
|
0.34
|
0.86
|
1.20
|
(0.32)
|
(0.01)
|
(0.33)
|
6.68
|
20.97(e)
|
121,627
|
2.06(e)
|
2.06(e)
|
1.67(e)
|
5.34(e)
|
73
|
150,000
|
6,617
|
Year ended 02/29/16
|
6.76
|
0.38
|
(0.94)
|
(0.56)
|
(0.39)
|
-
|
(0.39)
|
5.81
|
(8.65)(e)
|
115,036
|
1.98(e)
|
1.98(e)
|
1.68(e)
|
5.82(e)
|
51
|
150,000
|
6,346
|
Year ended 02/28/15
|
6.99
|
0.36
|
(0.23)
|
0.13
|
(0.36)
|
-
|
(0.36)
|
6.76
|
1.88(e)
|
182,673
|
1.90(e)
|
1.90(e)
|
1.66(e)
|
5.16(e)
|
59
|
224,000
|
5,949
|
Year ended 02/28/14
|
6.89
|
0.34
|
0.17
|
0.51
|
(0.40)
|
(0.01)
|
(0.41)
|
6.99
|
7.58(e)
|
232,475
|
1.92(e)
|
1.92(e)
|
1.66(e)
|
4.92(e)
|
95
|
254,000
|
6,164
|
Year ended 02/28/13
|
6.58
|
0.40
|
0.34
|
0.74
|
(0.43)
|
-
|
(0.43)
|
6.89
|
11.56(e)
|
123,447
|
1.71(e)
|
1.94(e)
|
1.40(e)
|
5.98(e)
|
101
|
211,000
|
6,827
|
Class C
|
|||||||||||||||||
Year ended 02/28/22
|
6.44
|
0.20
|
0.11
|
0.31
|
(0.27)
|
-
|
(0.27)
|
6.48
|
4.86(f)(g)
|
44,805
|
2.72(g)
|
2.72(g)
|
2.48(g)
|
3.11(g)
|
79
|
82,500
|
6,509
|
Year ended 02/28/21
|
6.36
|
0.18
|
0.10
|
0.28
|
(0.19)
|
(0.01)
|
(0.20)
|
6.44
|
4.81(g)
|
47,919
|
2.80(g)
|
2.80(g)
|
2.46(g)
|
3.05(g)
|
64
|
82,500
|
6,835
|
Year ended 02/29/20
|
6.63
|
0.25
|
(0.26)
|
(0.01)
|
(0.26)
|
-
|
(0.26)
|
6.36
|
(0.16)(g)
|
58,449
|
3.16(g)
|
3.16(g)
|
2.41(g)
|
3.87(g)
|
55
|
115,000
|
5,677
|
Year ended 02/28/19
|
6.73
|
0.23
|
(0.09)
|
0.14
|
(0.24)
|
-
|
(0.24)
|
6.63
|
2.50(g)
|
77,951
|
3.21(g)
|
3.21(g)
|
2.46(g)
|
3.50(g)
|
44
|
160,000
|
5,009
|
Year ended 02/28/18
|
6.70
|
0.21
|
0.04
|
0.25
|
(0.21)
|
(0.01)
|
(0.22)
|
6.73
|
3.86(g)
|
95,894
|
2.99(g)
|
2.99(g)
|
2.48(g)
|
3.13(g)
|
53
|
170,000
|
5,354
|
Year ended 02/28/17
|
5.82
|
0.29
|
0.87
|
1.16
|
(0.27)
|
(0.01)
|
(0.28)
|
6.70
|
20.24(g)
|
117,699
|
2.81(g)
|
2.81(g)
|
2.42(g)
|
4.59(g)
|
73
|
150,000
|
6,617
|
Year ended 02/29/16
|
6.77
|
0.33
|
(0.94)
|
(0.61)
|
(0.34)
|
-
|
(0.34)
|
5.82
|
(9.38)(g)
|
116,229
|
2.73(g)
|
2.73(g)
|
2.43(g)
|
5.07(g)
|
51
|
150,000
|
6,346
|
Year ended 02/28/15
|
7.00
|
0.31
|
(0.24)
|
0.07
|
(0.30)
|
-
|
(0.30)
|
6.77
|
1.06(g)
|
178,395
|
2.65(g)
|
2.65(g)
|
2.41(g)
|
4.41(g)
|
59
|
224,000
|
5,949
|
Year ended 02/28/14
|
6.89
|
0.29
|
0.18
|
0.47
|
(0.35)
|
(0.01)
|
(0.36)
|
7.00
|
6.93(g)
|
195,205
|
2.67(g)
|
2.67(g)
|
2.41(g)
|
4.17(g)
|
95
|
254,000
|
6,164
|
Year ended 02/28/13
|
3.58
|
0.35
|
0.33
|
0.68
|
(0.37)
|
-
|
(0.37)
|
6.89
|
10.67(g)
|
142,143
|
2.46(g)
|
2.69(g)
|
2.15(g)
|
5.23(g)
|
101
|
211,000
|
6,827
|
Class Y
|
|||||||||||||||||
Year ended 02/28/22
|
6.43
|
0.27
|
0.10
|
0.37
|
(0.34)
|
-
|
(0.34)
|
6.46
|
5.75(f)
|
1,077
|
1.72
|
1.72
|
1.48
|
4.11
|
79
|
82,500
|
6,509
|
Year ended 02/28/21
|
6.34
|
0.24
|
0.11
|
0.35
|
(0.25)
|
(0.01)
|
(0.26)
|
6.43
|
6.04
|
1,045
|
1.80
|
1.80
|
1.46
|
4.05
|
64
|
82,500
|
6,835
|
Year ended 02/29/20
|
6.61
|
0.32
|
(0.26)
|
0.06
|
(0.33)
|
-
|
(0.33)
|
6.34
|
0.83
|
2,436
|
2.16
|
2.16
|
1.41
|
4.87
|
55
|
115,000
|
5,677
|
Year ended 02/28/19
|
6.72
|
0.30
|
(0.10)
|
0.20
|
(0.31)
|
-
|
(0.31)
|
6.61
|
3.47
|
2,894
|
2.21
|
2.21
|
1.46
|
4.50
|
44
|
160,000
|
5,009
|
Year ended 02/28/18
|
6.68
|
0.28
|
0.05
|
0.33
|
(0.28)
|
(0.01)
|
(0.29)
|
6.72
|
5.05
|
2,161
|
1.99
|
1.99
|
1.48
|
4.13
|
53
|
170,000
|
5,354
|
Year ended 02/28/17
|
5.81
|
0.36
|
0.85
|
1.21
|
(0.33)
|
(0.01)
|
(0.34)
|
6.68
|
21.27
|
2,037
|
1.81
|
1.81
|
1.42
|
5.59
|
73
|
150,000
|
6,617
|
Year ended 02/29/16
|
6.77
|
0.40
|
(0.95)
|
(0.55)
|
(0.41)
|
-
|
(0.41)
|
5.81
|
(8.53)
|
1,108
|
1.73
|
1.73
|
1.43
|
6.07
|
51
|
150,000
|
6,346
|
Year ended 02/28/15
|
7.00
|
0.38
|
(0.23)
|
0.15
|
(0.38)
|
-
|
(0.38)
|
6.77
|
2.16
|
2,433
|
1.65
|
1.65
|
1.41
|
5.41
|
59
|
224,000
|
5,949
|
Period ended
02/28/14(h)
|
6.96
|
0.11
|
0.04
|
0.15
|
(0.10)
|
(0.01)
|
(0.11)
|
7.00
|
2.22(i)
|
2,357
|
1.60(i)
|
1.60(i)
|
1.37(i)
|
5.24(i)
|
95
|
254,000
|
6,164
|
Class IB
|
|||||||||||||||||
Year ended 02/28/22
|
6.43
|
0.27
|
0.10
|
0.37
|
(0.34)
|
-
|
(0.34)
|
6.46
|
5.75(f)
|
324,116
|
1.72
|
1.72
|
1.48
|
4.11
|
79
|
82,500
|
6,509
|
Year ended 02/28/21
|
6.34
|
0.24
|
0.11
|
0.35
|
(0.25)
|
(0.01)
|
(0.26)
|
6.43
|
6.04
|
345,166
|
1.80
|
1.80
|
1.46
|
4.05
|
64
|
82,500
|
6,835
|
Year ended 02/29/20
|
6.61
|
0.32
|
(0.26)
|
0.06
|
(0.33)
|
-
|
(0.33)
|
6.34
|
0.83
|
372,576
|
2.16
|
2.16
|
1.41
|
4.87
|
55
|
115,000
|
5,677
|
Year ended 02/28/19
|
6.72
|
0.30
|
(0.10)
|
0.20
|
(0.31)
|
-
|
(0.31)
|
6.61
|
3.46
|
432,894
|
2.21
|
2.21
|
1.46
|
4.50
|
44
|
160,000
|
5,009
|
Year ended 02/28/18
|
6.69
|
0.28
|
0.04
|
0.32
|
(0.28)
|
(0.01)
|
(0.29)
|
6.72
|
4.89
|
491,279
|
1.99
|
1.99
|
1.48
|
4.13
|
53
|
170,000
|
5,354
|
Year ended 02/28/17
|
5.81
|
0.36
|
0.86
|
1.22
|
(0.33)
|
(0.01)
|
(0.34)
|
6.69
|
21.45
|
552,939
|
1.81
|
1.81
|
1.42
|
5.59
|
73
|
150,000
|
6,617
|
Year ended 02/29/16
|
6.77
|
0.39
|
(0.94)
|
(0.55)
|
(0.41)
|
-
|
(0.41)
|
5.81
|
(8.53)
|
523,422
|
1.73
|
1.73
|
1.43
|
6.07
|
51
|
150,000
|
6,346
|
Year ended 02/28/15
|
7.00
|
0.37
|
(0.22)
|
0.15
|
(0.38)
|
-
|
(0.38)
|
6.77
|
2.16
|
682,816
|
1.65
|
1.65
|
1.41
|
5.41
|
59
|
224,000
|
5,949
|
Year ended 02/28/14
|
6.89
|
0.36
|
0.18
|
0.54
|
(0.42)
|
(0.01)
|
(0.43)
|
7.00
|
8.00
|
805,123
|
1.67
|
1.67
|
1.41
|
5.17
|
95
|
254,000
|
6,164
|
Year ended 02/28/13
|
6.58
|
0.40
|
0.34
|
0.74
|
(0.43)
|
-
|
(0.43)
|
6.89
|
11.59
|
877,598
|
1.67
|
1.69
|
1.36
|
6.02
|
101
|
211,000
|
6,827
|
Net asset
value,
beginning
of period
|
Net
investment
income(a)
|
Net gains
(losses)
on securities
(both
realized and
unrealized)
|
Total from
investment
operations
|
Dividends
from net
investment
income
|
Return of
capital
|
Total
distributions
|
Net asset
value, end
of period
|
Total
return (b)
|
Net assets,
end of period
(000's omitted)
|
Ratio of
expenses
to average
net assets
with fee waivers
and/or
expenses
absorbed
|
Ratio of
expenses
to average net
assets without
fee waivers
and/or
expenses
absorbed
|
Supplemental
ratio of
expenses
to average
net assets
with fee waivers
(excluding
interest,
facilities and
maintenance
fees)
|
Ratio of net
investment
income
to average
net assets
|
Portfolio
turnover (c)
|
Total
borrowings
(000's omitted)
|
Asset
Coverage
per $1,000
unit of
senior
indebtedness (d)
|
|
Class IC
|
|||||||||||||||||
Year ended 02/28/22
|
$6.43
|
$0.26
|
$0.10
|
$0.36
|
$(0.33)
|
$-
|
$(0.33)
|
$6.46
|
5.60%(f)(j)
|
$25,339
|
1.87%(j)
|
1.87%(j)
|
1.63%(j)
|
3.96%(j)
|
79%
|
$82,500
|
$6,509
|
Year ended 02/28/21
|
6.34
|
0.23
|
0.12
|
0.35
|
(0.25)
|
(0.01)
|
(0.26)
|
6.43
|
5.88(j)
|
27,422
|
1.95(j)
|
1.95(j)
|
1.61(j)
|
3.90(j)
|
64
|
82,500
|
6,835
|
Year ended 02/29/20
|
6.61
|
0.31
|
(0.26)
|
0.05
|
(0.32)
|
-
|
(0.32)
|
6.34
|
0.68(j)
|
29,779
|
2.31(j)
|
2.31(j)
|
1.56(j)
|
4.72(j)
|
55
|
115,000
|
5,677
|
Year ended 02/28/19
|
6.72
|
0.29
|
(0.10)
|
0.19
|
(0.30)
|
-
|
(0.30)
|
6.61
|
3.30(j)
|
36,854
|
2.36(j)
|
2.36(j)
|
1.61(j)
|
4.35(j)
|
44
|
160,000
|
5,009
|
Year ended 02/28/18
|
6.69
|
0.27
|
0.05
|
0.32
|
(0.28)
|
(0.01)
|
(0.29)
|
6.72
|
4.74(j)
|
41,957
|
2.14(j)
|
2.14(j)
|
1.63(j)
|
3.98(j)
|
53
|
170,000
|
5,354
|
Year ended 02/28/17
|
5.81
|
0.35
|
0.86
|
1.21
|
(0.32)
|
(0.01)
|
(0.33)
|
6.69
|
21.28(j)
|
46,648
|
1.96(j)
|
1.96(j)
|
1.57(j)
|
5.44(j)
|
73
|
150,000
|
6,617
|
Year ended 02/29/16
|
6.77
|
0.38
|
(0.94)
|
(0.56)
|
(0.40)
|
-
|
(0.40)
|
5.81
|
(8.68)(j)
|
43,660
|
1.88(j)
|
1.88(j)
|
1.58(j)
|
5.92(j)
|
51
|
150,000
|
6,346
|
Year ended 02/28/15
|
7.00
|
0.36
|
(0.22)
|
0.14
|
(0.37)
|
-
|
(0.37)
|
6.77
|
1.99(j)
|
55,548
|
1.80(j)
|
1.80(j)
|
1.56(j)
|
5.26(j)
|
59
|
224,000
|
5,949
|
Year ended 02/28/14
|
6.89
|
0.36
|
0.18
|
0.54
|
(0.42)
|
(0.01)
|
(0.43)
|
7.00
|
7.83(j)
|
66,029
|
1.82(j)
|
1.82(j)
|
1.56
|
5.02(j)
|
95
|
254,000
|
6,164
|
Year ended 02/28/13
|
6.58
|
0.40
|
0.34
|
0.74
|
(0.43)
|
-
|
(0.43)
|
6.89
|
11.57(j)
|
73,356
|
1.69(j)
|
1.84(j)
|
1.38(j)
|
6.00(j)
|
101
|
211,000
|
6,827
|
(a)
|
Calculated using average shares outstanding.
|
(b)
|
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns
based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one
year, if applicable.
|
(c)
|
Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable. Calculation includes the proceeds from principal repayments and sales of variable
rate senior loan interests.
|
(d)
|
Calculated by subtracting the Fund's total liabilities (not including the Borrowings) from the Fund's total assets and dividing by the total number of senior indebtedness units, where one unit equals
$1,000 of senior indebtedness.
|
(e)
|
The total return, ratio of expenses to average net assets and ratio of net investment income to average net assets reflect actual 12b-1 fees of 0.25% for the years ended February 28, 2022,
February 28, 2021, February 29, 2020, February 28, 2019, February 28, 2018, February 28, 2017, February 29, 2016, February 28, 2015, February 28, 2014, respectively, and 0.04% for the
year ended February 28, 2013.
|
(f)
|
Amount includes the effect of the Adviser pay-in for an economic loss of $0.01 per share. Had the pay-in not been made, the total return would have been 5.32%, 4.70%, 5.59%, 5.59% and
5.43% for Class A, Class C, Class Y, Class IB and Class IC shares, respectively.
|
(g)
|
The total return, ratio of expenses to average net assets and ratio of net investment income to average net assets reflect actual 12b-1 fees of 1.00%, for the years ended February 28, 2022,
February 28, 2021, February 29, 2020, February 28, 2019, February 28, 2018, February 28, 2017, February 29, 2016, February 28, 2015, February 28, 2014, respectively, and 0.79% for the
year ended February 28, 2013.
|
(h)
|
Commencement date of November 8, 2013.
|
(i)
|
Annualized.
|
(j)
|
The total return, ratio of expenses to average net assets and ratio of net investment income to average net assets reflect actual 12b-1 fees of 0.15%, for each of the years ended February 28,
2022, February 28, 2021, February 29, 2020, February 28, 2019, February 28, 2018, February 28, 2017, February 29, 2016, February 28, 2015, respectively, and 0.02% for the year ended
February 28, 2014.
|
Rated Obligations
|
|
AA/A
|
0.00%
|
BBB/Baa:
|
2.66%
|
BB/Ba:
|
16.91%
|
B/B:
|
62.11%
|
Rated Obligations
|
|
CCC/Caa:
|
8.94%
|
CC/Ca:
|
0.69%
|
Unrated Obligations:
|
8.69%
|
Total
|
100.00%
|
Assumed portfolio
return, Net of
expenses
|
(10)%
|
(5)%
|
0%
|
5%
|
10%
|
Corresponding
return to common
shareholders
|
(11.70)%
|
(5.95)%
|
(0.21)%
|
5.54%
|
11.28%
|
Average Daily Net Assets
|
% Per Annum
|
First $500 million
|
0.900%
|
Next $1 billion
|
0.850%
|
Next $1 billion
|
0.825%
|
Next $500 million
|
0.800%
|
Over $3 billion
|
0.775%
|
Size of Investment
|
As a % of
Offering Price
|
As a % of
Net Amount Invested
|
Less than $100,000
|
3.25%
|
3.36%
|
$100,000 but less than $250,000
|
2.75
|
2.83
|
$250,000 but less than $500,000
|
1.75
|
1.78
|
$500,000 but less than $1,000,000
|
1.50
|
1.52
|
$1,000,000 or more
|
††
|
††
|
Total
Underwriting
Commissions
|
Amounts
Retained by
the Fund's
Distributor
|
|
Fiscal year ended February 28, 2022
|
$30,053
|
$3,472
|
Fiscal year ended February 28, 2021
|
$11,500
|
$1,928
|
Fiscal year ended February 29, 2020
|
$12,842
|
$1,574
|
Size of Investment
|
Reallowed to Dealers as a Percentage of
Offering Price
|
Less than $100,000
|
3.00%
|
$100,000 but less than $250,000
|
2.50%
|
$250,000 but less than $500,000
|
1.50%
|
$500,000 but less than $1,000,000
|
1.25%
|
$1,000,000 or more
|
†
|
Class IB Shares
(former Class B Shares)
Year After Date of Original Purchase
|
Class IB Shares
(former Class B Shares)
Annual Compensation as a
Percentage of Value
of Outstanding Shares
|
First
|
0.00%
|
Second
|
0.10%
|
Third
|
0.15%
|
Fourth
|
0.20%
|
Fifth
|
0.25%
|
Sixth and following
|
0.35%
|
Class IC Shares
(former Class C Shares)
Year After Date of Original Purchase
|
Class IC Shares
(former Class C Shares)
Annual Compensation as a
Percentage of Value
of Shares Outstanding
|
First
|
0.00%
|
Second and following
|
0.75%
|
Year After Purchase
|
Early Withdrawal Charge
|
Year 1
|
3.00%
|
Year 2
|
2.50%
|
Year 3
|
2.00%
|
Year 4
|
1.00%
|
Year 5 and thereafter
|
None
|
Quarterly
Period Ending
|
Class A
|
Class C
|
Class Y
|
Class IB
|
Class IC
|
|||||
High
|
Low
|
High
|
Low
|
High
|
Low
|
High
|
Low
|
High
|
Low
|
|
March 31, 2022
|
$6.52
|
$6.34
|
$6.53
|
$6.36
|
$6.51
|
$6.34
|
$6.52
|
$6.34
|
$6.52
|
$6.34
|
December 31,
2021
|
$6.62
|
$6.47
|
$6.63
|
$6.48
|
$6.61
|
$6.46
|
$6.62
|
$6.47
|
$6.62
|
$6.47
|
September 30,
2021
|
$6.62
|
$6.5
|
$6.64
|
$6.52
|
$6.63
|
$6.51
|
$6.62
|
$6.51
|
$6.62
|
$6.5
|
June 30, 2021
|
$6.55
|
$6.44
|
$6.57
|
$6.46
|
$6.56
|
$6.45
|
$6.55
|
$6.45
|
$6.55
|
$6.44
|
March 31, 2021
|
$6.45
|
$6.29
|
$6.47
|
$6.31
|
$6.46
|
$6.30
|
$6.46
|
$6.29
|
$6.45
|
$6.29
|
December 31,
2020
|
$6.29
|
$5.98
|
$6.31
|
$6.00
|
$6.30
|
$5.99
|
$6.29
|
$5.99
|
$6.29
|
$5.99
|
September 30,
2020
|
$6.08
|
$5.82
|
$6.09
|
$5.84
|
$6.08
|
$5.83
|
$6.08
|
$5.82
|
$6.08
|
$5.82
|
June 30, 2020
|
$5.92
|
$5.39
|
$5.94
|
$5.41
|
$5.93
|
$5.39
|
$5.93
|
$5.39
|
$5.92
|
$5.39
|
March 31, 2020
|
$6.54
|
$4.96
|
$6.56
|
$4.98
|
$6.54
|
$4.96
|
$6.55
|
$4.96
|
$6.54
|
$4.96
|
December 31,
2019
|
$6.51
|
$6.37
|
$6.53
|
$6.39
|
$6.51
|
$6.37
|
$6.52
|
$6.37
|
$6.51
|
$6.37
|
September 30,
2019
|
$6.57
|
$6.48
|
$6.59
|
$6.50
|
$6.57
|
$6.48
|
$6.57
|
$6.49
|
$6.57
|
$6.48
|
June 30, 2019
|
$6.68
|
$6.56
|
$6.69
|
$6.58
|
$6.67
|
$6.56
|
$6.68
|
$6.56
|
$6.68
|
$6.56
|
March 31, 2019
|
$6.61
|
$6.34
|
$6.63
|
$6.36
|
$6.61
|
$6.34
|
$6.62
|
$6.34
|
$6.61
|
$6.34
|
(1)
Title of Class
|
(2)
Amount
Authorized
|
(3)
Amount
Held
by Fund for
its Own
Account
|
(4)
Amount
Outstanding
Exclusive of
Amount Shown
Under (3)
|
Class A Shares
|
unlimited
|
0
|
9,150,245
|
Class C Shares
|
unlimited
|
0
|
6,915,407
|
Class Y Shares
|
unlimited
|
0
|
166,667
|
Class IB Shares
|
unlimited
|
0
|
50,152,300
|
Class IC Shares
|
unlimited
|
0
|
3,921,362
|
Page
|
|
GENERAL INFORMATION
|
1
|
INVESTMENT OBJECTIVE, INVESTMENT STRATEGIES AND RISKS
|
1
|
INVESTMENT RESTRICTIONS
|
1
|
TRUSTEES AND OFFICERS
|
5
|
CONTROL PERSONS AND PRINCIPAL HOLDERS OF SECURITES
|
27
|
INVESTMENT ADVISORY AND OTHER SERVICES
|
28
|
FUND MANAGEMENT
|
30
|
DISTRIBUTION AND SERVICE
|
33
|
Page
|
|
PORTFOLIO TRANSACTIONS AND BROKERAGE ALLOCATION
|
38
|
SHAREHOLDER SERVICES
|
39
|
NET ASSET VALUE
|
41
|
EARLY WITHDRAWAL CHARGE - CLASS A
|
42
|
WAIVER OF EARLY WITHDRAWAL CHARGES
|
42
|
TAXATION
|
43
|
OTHER INFORMATION
|
49
|
FINANCIAL STATEMENTS
|
50
|
APPENDICES:
|
|
APPENDIX A - RATINGS OF DEBT SECURITIES
|
A-1
|
APPENDIX B - PROXY VOTING POLICIES
|
B-1
|
By Mail:
|
Invesco Investment Services, Inc.
P.O. Box 219078
Kansas City, MO 64121-9078
|
By Telephone:
|
(800) 959-4246
|
On the Internet:
|
You can send us a request by e-mail or
download prospectuses, SAIs, annual or
semi-annual reports via our website:
www.invesco.com/us
|
Invesco Senior Loan Fund
SEC 1940 Act file number: 811-05845
|
invesco.com/us
|
VK-SLO-PRO-1
|
Class
|
A
|
C
|
Y
|
IB
|
IC
|
Invesco Senior Loan Fund
|
VSLAX
|
VSLCX
|
VSLYX
|
XPRTX
|
XSLCX
|
Page
|
|
GENERAL INFORMATION
|
1
|
INVESTMENT OBJECTIVE, INVESTMENT STRATEGIES AND RISKS
|
1
|
Temporary Defensive Strategies
|
1
|
INVESTMENT RESTRICTIONS
|
1
|
Business Continuity and Operational Risk
|
2
|
Risks Related to Russian Invasion of Ukraine.
|
3
|
Cybersecurity Risk
|
3
|
Natural Disaster/Epidemic Risk
|
4
|
Non-Fundamental Policies
|
4
|
TRUSTEES AND OFFICERS
|
5
|
Interested Trustee
|
6
|
Independent Trustees
|
7
|
Officers
|
11
|
Board of Trustees
|
15
|
Management Information
|
20
|
Committee Structure
|
22
|
Compensation
|
23
|
Trustee Compensation Table
|
23
|
Shareholder Communications
|
24
|
Trustee Beneficial Ownership of Securities
|
24
|
Code of Ethics
|
27
|
CONTROL PERSONS AND PRINCIPAL HOLDERS OF SECURITIES
|
27
|
INVESTMENT ADVISORY AND OTHER SERVICES
|
28
|
Investment Sub-Advisers
|
29
|
Advisory Fees
|
30
|
The Administrator
|
30
|
Administration Fees
|
30
|
Fund management
|
30
|
Portfolio Manager Fund Holdings and Information on Other Managed Accounts
|
30
|
Investments
|
31
|
Assets Managed
|
31
|
Potential Conflicts of Interest
|
31
|
Description of Compensation Structure
|
32
|
For the Adviser and each Sub-Adviser
|
32
|
DISTRIBUTION AND SERVICE
|
33
|
Certain Financial Intermediaries that Receive One or More Types of Payments
|
36
|
PORTFOLIO TRANSACTIONS AND BROKERAGE ALLOCATION
|
38
|
SHAREHOLDER SERVICES
|
39
|
Reinvestment Plan
|
40
|
Retirement Plans
|
40
|
Dividend Diversification
|
40
|
Reinstatement Privilege
|
41
|
NET ASSET VALUE
|
41
|
EARLY WITHDRAWAL CHARGE - CLASS A
|
42
|
Page
|
|
WAIVER OF EARLY WITHDRAWAL CHARGES
|
42
|
Repurchase Upon Death or Disability
|
42
|
Repurchase in Connection with Certain Distributions from Retirement Plans
|
42
|
No Initial Commission or Transaction Fee
|
43
|
TAXATION
|
43
|
Taxation of the Fund
|
43
|
Distributions to Shareholders
|
45
|
Sale of Shares
|
46
|
Withholding on Payments to Non-U.S. Shareholders
|
47
|
Backup Withholding
|
48
|
Information Reporting
|
48
|
OTHER INFORMATION
|
49
|
Proxy Voting Policy and Proxy Voting Record
|
49
|
Custodian, Dividend Disbursing Agent and Transfer Agent
|
49
|
Independent Registered Public Accounting Firm
|
49
|
Legal Counsel
|
49
|
Securities Lending Arrangements
|
49
|
FINANCIAL STATEMENTS
|
50
|
APPENDIX A - RATINGS OF DEBT SECURITIES
|
A-1
|
APPENDIX B - PROXY POLICY AND PROCEDURES
|
B-1
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
Martin L. Flanagan1 - 1960
|
Trustee and
Vice Chair
|
2014
|
Executive Director, Chief
Executive Officer and
President, Invesco Ltd.
(ultimate parent of Invesco
and a global investment
management firm);
Trustee and Vice Chair,
The Invesco Funds; Vice
Chair, Investment
Company Institute; and
Member of Executive
Board, SMU Cox School
of Business
Formerly: Advisor to the
Board, Invesco Advisers,
Inc. (formerly known as
Invesco Institutional
(N.A.), Inc.); Chairman
and Chief Executive
Officer, Invesco Advisers,
Inc. (registered investment
adviser); Director,
Chairman, Chief Executive
Officer and President,
Invesco Holding Company
(US), Inc. (formerly IVZ
Inc.) (holding company),
Invesco Group Services,
Inc. (service provider) and
Invesco North American
Holdings, Inc. (holding
company); Director, Chief
Executive Officer and
President, Invesco Holding
Company Limited (parent
of Invesco and a global
investment management
firm); Director, Invesco
Ltd.; Chairman,
Investment Company
Institute and President,
Co-Chief Executive
Officer, Co-President,
Chief Operating Officer
and Chief Financial
Officer, Franklin
Resources, Inc. (global
investment management
organization)
|
184
|
None
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
Christopher L. Wilson -
1957
|
Trustee and
Chair
|
2017
|
Retired
Formerly: Director, TD
Asset Management USA
Inc. (mutual fund complex)
(22 portfolios); Managing
Partner, CT2, LLC
(investing and consulting
firm); President/Chief
Executive Officer,
Columbia Funds, Bank of
America Corporation;
President/Chief Executive
Officer, CDC IXIS Asset
Management Services,
Inc.; Principal & Director
of Operations, Scudder
Funds, Scudder, Stevens
& Clark, Inc.; Assistant
Vice President, Fidelity
Investments
|
184
|
Formerly: enaible, Inc.
(artificial intelligence
technology); Director,
ISO New England, Inc.
(non-profit organization
managing regional
electricity market)
|
Beth Ann Brown - 1968
|
Trustee
|
2019
|
Independent Consultant
Formerly: Head of
Intermediary Distribution,
Managing Director,
Strategic Relations,
Managing Director, Head
of National Accounts,
Senior Vice President,
National Account Manager
and Senior Vice President,
Key Account Manager,
Columbia Management
Investment Advisers LLC;
Vice President, Key
Account Manager, Liberty
Funds Distributor, Inc.;
and Trustee of certain
Oppenheimer Funds
|
184
|
Director, Board of
Directors of Caron
Engineering Inc.;
Advisor, Board of
Advisors of Caron
Engineering Inc.;
President and Director,
Acton Shapleigh Youth
Conservation Corps
(non-profit);
formerly President and
Director of
Grahamtastic
Connection (non-profit)
|
Cynthia Hostetler -1962
|
Trustee
|
2017
|
Non-Executive Director
and Trustee of a number
of public and private
business corporations
Formerly: Director,
Aberdeen Investment
Funds (4 portfolios);
Director, Artio Global
Investment LLC (mutual
fund complex); Director,
Edgen Group, Inc.
(specialized energy and
infrastructure products
|
184
|
Resideo
Technologies(smart
home technology);
Vulcan Materials
Company (construction
materials company);
Trilinc Global Impact
Fund; Textainer Group
Holdings, (shipping
container leasing
company); Investment
Company Institute
(professional
organization);
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
distributor); Director,
Genesee & Wyoming, Inc.
(railroads); Head of
Investment Funds and
Private Equity, Overseas
Private Investment
Corporation; President,
First Manhattan
Bancorporation, Inc.;
Attorney, Simpson
Thacher & Bartlett LLP
|
Independent Directors
Council (professional
organization)
|
||||
Eli Jones - 1961
|
Trustee
|
2016
|
Professor and Dean
Emeritus, Mays Business
School at Texas A&M
University
Formerly: Dean of Mays
Business School at Texas
A&M University; Professor
and Dean, Walton College
of Business, University of
Arkansas and E.J. Ourso
College of Business,
Louisiana State University;
Director, Arvest Bank
|
184
|
Insperity, Inc. (formerly
known as Administaff)
(human resources
provider); Member of
Regional Board of
Directors and Board of
Directors, First
Financial Bancorp
(regional bank)
|
Elizabeth Krentzman - 1959
|
Trustee
|
2019
|
Formerly: Principal and
Chief Regulatory Advisor
for Asset Management
Services and U.S. Mutual
Fund Leader of Deloitte &
Touche LLP; General
Counsel of the Investment
Company Institute (trade
association); National
Director of the Investment
Management Regulatory
Consulting Practice,
Principal, Director and
Senior Manager of
Deloitte & Touche LLP;
Assistant Director of the
Division of Investment
Management - Office of
Disclosure and Investment
Adviser Regulation of the
U.S. Securities and
Exchange Commission
and various positions with
the Division of Investment
Management - Office of
Regulatory Policy of the
U.S. Securities and
Exchange Commission;
Associate at Ropes &
Gray LLP; and Trustee of
certain Oppenheimer
|
184
|
Trustee of the
University of Florida
National Board
Foundation; Member of
the Cartica Funds
Board of Directors
(private investment
funds);
Formerly: Member of
the University of
Florida Law Center
Association, Inc. Board
of Trustees, Audit
Committee and
Membership
Committee
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
Funds
|
|||||
Anthony J. LaCava, Jr.-
1956
|
Trustee
|
2019
|
Formerly: Director and
Member of the Audit
Committee, Blue Hills
Bank (publicly traded
financial institution) and
Managing Partner, KPMG
LLP
|
184
|
Blue Hills Bank;
Chairman, Bentley
University; Member,
Business School
Advisory Council; and
Nominating Committee,
KPMG LLP
|
Prema Mathai-Davis - 1950
|
Trustee
|
2014
|
Retired
Formerly: Co-Founder &
Partner of Quantalytics
Research, LLC, (a
FinTech Investment
Research Platform for the
Self-Directed Investor);
Trustee of YWCA
Retirement Fund; CEO of
YWCA of the USA; Board
member of the NY
Metropolitan
Transportation Authority;
Commissioner of the NYC
Department of Aging;
Board member of Johns
Hopkins Bioethics Institute
|
184
|
Member of Board of
Positive Planet US
(non-profit) and
HealthCare Chaplaincy
Network (non-profit)
|
Joel W. Motley - 1952
|
Trustee
|
2019
|
Director of Office of
Finance, Federal Home
Loan Bank System;
Managing Director of
Carmona Motley Inc.
(privately held financial
advisor); Member of the
Council on Foreign
Relations and its Finance
and Budget Committee;
Chairman Emeritus of
Board of Human Rights
Watch and Member of its
Investment Committee;
Member of Investment
Committee and Board of
Historic Hudson Valley
(non-profit cultural
organization); and
Member of Board of Blue
Ocean Acquisition Corp.
Formerly: Managing
Director of Public Capital
Advisors, LLC (privately
held financial advisor);
Managing Director of
Carmona Motley Hoffman,
Inc. (privately held
|
184
|
Member of Board of
Trust for Mutual
Understanding (non-
profit promoting the
arts and environment);
Member of Board of
Greenwall Foundation
(bioethics research
foundation) and its
Investment Committee;
Member of Board of
Friends of the LRC
(non-profit legal
advocacy); Board
Member and
Investment Committee
Member of Pulitzer
Center for Crisis
Reporting (non-profit
journalism)
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
financial advisor); Trustee
of certain Oppenheimer
Funds; Director of
Columbia Equity Financial
Corp. (privately held
financial advisor); and
Member of the Vestry of
Trinity Church Wall Street
|
|||||
Teresa M. Ressel - 1962
|
Trustee
|
2017
|
Non-executive director
and trustee of a number of
public and private
business corporations
Formerly: Chief Executive
Officer, UBS Securities
LLC (investment banking);
Chief Operating Officer,
UBS AG Americas
(investment banking); Sr.
Management Team
Olayan America, The
Olayan Group
(international
investor/commercial/industrial);
Assistant Secretary for
Management & Budget
and Designated Chief
Financial Officer, U.S.
Department of Treasury;
Director, Atlantic Power
Corporation (power
generation company) and
ON Semiconductor
Corporation
(semiconductor
manufacturing)
|
184
|
None
|
Ann Barnett Stern - 1957
|
Trustee
|
2017
|
President and Chief
Executive Officer, Houston
Endowment Inc. (private
philanthropic institution)
Formerly: Executive Vice
President, Texas
Children's Hospital; Vice
President, General
Counsel and Corporate
Compliance Officer, Texas
Children's Hospital;
Attorney, Beck, Redden
and Secrest, LLP and
Andrews & Kurth LLP
|
184
|
Trustee and Board
Vice Chair of
Holdsworth Center
(non-profit); Trustee
and Chair of
Nomination/Governance
Committee, Good
Reason Houston, (non-
profit); Trustee and
Investment Committee
member of University
of Texas Law School
Foundation (non-profit);
Board Member of
Greater Houston
Partnership (non-
profit); Advisory Board
member, Baker
Institute for Public
Policy at Rice
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s)
During Past 5 Years
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Other Trusteeship(s)/
Directorship Held by
Trustee/Director During
Past 5 Years
|
University (non-
profit)
Formerly: Director and
Audit Committee
Member of Federal
Reserve Bank of
Dallas
|
|||||
Robert C. Troccoli - 1949
|
Trustee
|
2016
|
Retired
Formerly: Adjunct
Professor, University of
Denver - Daniels College
of Business; and
Managing Partner, KPMG
LLP
|
184
|
None
|
Daniel S. Vandivort -1954
|
Trustee
|
2019
|
President, Flyway
Advisory Services LLC
(consulting and property
management)
|
184
|
Formerly: Trustee,
Board of Trustees,
Huntington Disease
Foundation of America;
Trustee and
Governance Chair, of
certain Oppenheimer
Funds; and Treasurer,
Chairman of the Audit
and Finance
Committee, Huntington
Disease Foundation of
America
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s) During Past 5 Years
|
Sheri Morris - 1964
|
President and
Principal
Executive
Officer
|
2010
|
Director, Invesco Trust Company; Head of Global Fund Services,
Invesco Ltd.; President and Principal Executive Officer, The
Invesco Funds; Vice President, Invesco Exchange-Traded Fund
Trust, Invesco Exchange-Traded Fund Trust II, Invesco India
Exchange-Traded Fund Trust, Invesco Actively Managed
Exchange-Traded Fund Trust, Invesco Actively Managed
Exchange-Traded Commodity Fund Trust and Invesco Exchange-
Traded Self-Indexed Fund Trust; and Vice President,
OppenheimerFunds, Inc.
Formerly: Vice President, Treasurer and Principal Financial
Officer, The Invesco Funds; Vice President, Invesco AIM Advisers,
Inc., Invesco AIM Capital Management, Inc. and Invesco AIM
Private Asset Management, Inc.; Assistant Vice President and
Assistant Treasurer, The Invesco Funds; Vice President and
Assistant Vice President, Invesco Advisers, Inc.; Assistant Vice
President, Invesco AIM Capital Management, Inc. and Invesco
AIM Private Asset Management, Inc.; Treasurer, Invesco
Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund
Trust II, Invesco India Exchange-Traded Fund Trust and Invesco
Actively Managed Exchange-Traded Fund Trust and Senior Vice
President, Invesco Advisers, Inc. (formerly known as Invesco
Institutional (N.A.), Inc.) (registered investment adviser)
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s) During Past 5 Years
|
Jeffrey H. Kupor - 1968
|
Senior Vice
President, Chief
Legal Officer
and Secretary
|
2018
|
Head of Legal of the Americas, Invesco Ltd.; Senior Vice
President and Secretary, Invesco Advisers, Inc. (formerly known
as Invesco Institutional (N.A.), Inc.) (registered investment
adviser); Secretary, Invesco Distributors, Inc. (formerly known as
Invesco AIM Distributors, Inc.); Vice President and Secretary,
Invesco Investment Services, Inc. (formerly known as Invesco
AIM Investment Services, Inc.) Senior Vice President, Chief Legal
Officer and Secretary, The Invesco Funds; Secretary and General
Counsel, Invesco Investment Advisers LLC (formerly known as
Van Kampen Asset Management); Secretary and General
Counsel, Invesco Capital Markets, Inc. (formerly known as Van
Kampen Funds Inc.) and Chief Legal Officer, Invesco Exchange-
Traded Fund Trust, Invesco Exchange-Traded Fund Trust II,
Invesco India Exchange-Traded Fund Trust, Invesco Actively
Managed Exchange-Traded Fund Trust, Invesco Actively
Managed Exchange-Traded Commodity Fund Trust and Invesco
Exchange-Traded Self-Indexed Fund Trust; Secretary and Vice
President, Harbourview Asset Management Corporation;
Secretary and Vice President, OppenheimerFunds, Inc. and
Invesco Managed Accounts, LLC; Secretary and Senior Vice
President, OFI Global Institutional, Inc.; Secretary and Vice
President, OFI SteelPath, Inc.; Secretary and Vice President,
Oppenheimer Acquisition Corp.; Secretary and Vice President,
Shareholder Services, Inc.; Secretary and Vice President, Trinity
Investment Management Corporation
Formerly: Senior Vice President, Invesco Distributors, Inc.;
Secretary and Vice President, Jemstep, Inc.; Head of Legal,
Worldwide Institutional, Invesco Ltd.; Secretary and General
Counsel, INVESCO Private Capital Investments, Inc.; Senior Vice
President, Secretary and General Counsel, Invesco Management
Group, Inc. (formerly known as Invesco AIM Management Group,
Inc.); Assistant Secretary, INVESCO Asset Management
(Bermuda) Ltd.; Secretary and General Counsel, Invesco Private
Capital, Inc.; Assistant Secretary and General Counsel, INVESCO
Realty, Inc.; Secretary and General Counsel, Invesco Senior
Secured Management, Inc.; Secretary, Sovereign G./P. Holdings
Inc.; Secretary, Invesco Indexing LLC; and Secretary, W.L. Ross
& Co., LLC;
|
Andrew R. Schlossberg -
1974
|
Senior Vice
President
|
2019
|
Senior Vice President, Invesco Group Services, Inc.; Head of the
Americas and Senior Managing Director, Invesco Ltd.; Director
and Senior Vice President, Invesco Advisers, Inc. (formerly known
as Invesco Institutional (N.A.), Inc.) (registered investment
adviser); Director and Chairman, Invesco Investment Services,
Inc. (formerly known as Invesco AIM Investment Services, Inc.)
(registered transfer agent); Senior Vice President, The Invesco
Funds; Director, Invesco Investment Advisers LLC (formerly
known as Van Kampen Asset Management)
Formerly: Director, President and Chairman, Invesco Insurance
Agency, Inc.; Director, Invesco UK Limited; Director and Chief
Executive, Invesco Asset Management Limited and Invesco Fund
Managers Limited; Assistant Vice President, The Invesco Funds;
Senior Vice President, Invesco Advisers, Inc. (formerly known as
Invesco Institutional (N.A.), Inc.) (registered investment adviser);
Director and Chief Executive, Invesco Administration Services
Limited and Invesco Global Investment Funds Limited; Director,
Invesco Distributors, Inc.; Head of EMEA, Invesco Ltd.; President,
Invesco Actively Managed Exchange-Traded Commodity Fund
Trust, Invesco Actively Managed Exchange-Traded Fund Trust,
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s) During Past 5 Years
|
Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded
Fund Trust II and Invesco India Exchange-Traded Fund Trust;
Managing Director and Principal Executive Officer, Invesco
Capital Management LLC
|
|||
John M. Zerr - 1962
|
Senior Vice
President
|
2010
|
Chief Operating Officer of the Americas; Senior Vice President,
Invesco Advisers, Inc. (formerly known as Invesco Institutional
(N.A.), Inc.) (registered investment adviser); Senior Vice
President, Invesco Distributors, Inc. (formerly known as Invesco
AIM Distributors, Inc.); Director and Vice President, Invesco
Investment Services, Inc. (formerly known as Invesco AIM
Investment Services, Inc.); Senior Vice President, The Invesco
Funds; Managing Director, Invesco Capital Management LLC;
Director, Invesco Investment Advisers LLC (formerly known as
Van Kampen Asset Management); Senior Vice President, Invesco
Capital Markets, Inc. (formerly known as Van Kampen Funds
Inc.); Manager, Invesco Indexing LLC; Manager, Invesco
Specialized Products, LLC; Member, Invesco Canada Funds
Advisory Board; Director, President and Chief Executive Officer,
Invesco Corporate Class Inc. (corporate mutual fund company);
Director, Chairman, President and Chief Executive Officer,
Invesco Canada Ltd. (formerly known as Invesco Trimark
Ltd./Invesco Trimark Ltèe) (registered investment adviser and
registered transfer agent); President, Invesco, Inc.; President,
Invesco Global Direct Real Estate Feeder GP Ltd.; President,
Invesco IP Holdings (Canada) Ltd; President, Invesco Global
Direct Real Estate GP Ltd.; President, Invesco Financial Services
Ltd. / Services Financiers Invesco Ltée; and Director and
Chairman, Invesco Trust Company
Formerly: President, Trimark Investments Ltd/Services Financiers
Invesco Ltee: Director and Senior Vice President, Invesco
Insurance Agency, Inc.; Director and Senior Vice President,
Invesco Management Group, Inc. (formerly known as Invesco AIM
Management Group, Inc.); Secretary and General Counsel,
Invesco Management Group, Inc. (formerly known as Invesco AIM
Management Group, Inc.); Secretary, Invesco Investment
Services, Inc. (formerly known as Invesco AIM Investment
Services, Inc.); Chief Legal Officer and Secretary, The Invesco
Funds; Secretary and General Counsel, Invesco Investment
Advisers LLC (formerly known as Van Kampen Asset
Management); Secretary and General Counsel, Invesco Capital
Markets, Inc. (formerly known as Van Kampen Funds Inc.); Chief
Legal Officer, Invesco Exchange-Traded Fund Trust, Invesco
Exchange-Traded Fund Trust II, Invesco India Exchange-Traded
Fund Trust, Invesco Actively Managed Exchange-Traded Fund
Trust, Invesco Actively Managed Exchange-Traded Commodity
Fund Trust and Invesco Exchange-Traded Self-Indexed Fund
Trust; Secretary, Invesco Indexing LLC; Director, Secretary,
General Counsel and Senior Vice President, Van Kampen
Exchange Corp.; Director, Vice President and Secretary, IVZ
Distributors, Inc. (formerly known as INVESCO Distributors, Inc.);
Director and Vice President, INVESCO Funds Group, Inc.;
Director and Vice President, Van Kampen Advisors Inc.; Director,
Vice President, Secretary and General Counsel, Van Kampen
Investor Services Inc.; Director and Secretary, Invesco
Distributors, Inc. (formerly known as Invesco AIM Distributors,
Inc.); Director, Senior Vice President, General Counsel and
Secretary, Invesco AIM Advisers, Inc. and Van Kampen
Investments Inc.; Director, Vice President and Secretary, Fund
Management Company; Director, Senior Vice President,
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s) During Past 5 Years
|
Secretary, General Counsel and Vice President, Invesco AIM
Capital Management, Inc.; Chief Operating Officer and General
Counsel, Liberty Ridge Capital, Inc. (an investment adviser)
|
|||
Gregory G. McGreevey -
1962
|
Senior Vice
President
|
2012
|
Senior Managing Director, Invesco Ltd.; Director, Chairman,
President, and Chief Executive Officer, Invesco Advisers, Inc.
(formerly known as Invesco Institutional (N.A.), Inc.) (registered
investment adviser); Director, Invesco Mortgage Capital, Inc. and
Invesco Senior Secured Management, Inc.; Senior Vice President,
The Invesco Funds; President, SNW Asset Management
Corporation and Invesco Managed Accounts, LLC; Chairman and
Director, Invesco Private Capital, Inc.; Chairman and Director,
INVESCO Private Capital Investments, Inc.; Chairman and
Director, INVESCO Realty, Inc.; and Senior Vice President,
Invesco Group Services, Inc.
Formerly: Senior Vice President, Invesco Management Group,
Inc. and Invesco Advisers, Inc.; Assistant Vice President, The
Invesco Funds
|
Adrien Deberghes - 1967
|
Principal
Financial Officer,
Treasurer and
Vice President
|
2020
|
Head of the Fund Office of the CFO and Fund Administration;
Vice President, Invesco Advisers, Inc.; Principal Financial Officer,
Treasurer and Vice President, The Invesco Funds; Vice President,
Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded
Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco
Actively Managed Exchange-Traded Fund Trust, Invesco Actively
Managed Exchange-Traded Commodity Fund Trust and Invesco
Exchange-Traded Self-Indexed Fund Trust
Formerly: Senior Vice President and Treasurer, Fidelity
Investments
|
Crissie M. Wisdom - 1969
|
Anti-Money
Laundering
Compliance
Officer
|
2013
|
Anti-Money Laundering and OFAC Compliance Officer for Invesco
U.S. entities including: Invesco Advisers, Inc. and its affiliates,
Invesco Capital Markets, Inc., Invesco Distributors, Inc., Invesco
Investment Services, Inc., The Invesco Funds, Invesco Capital
Management, LLC, Invesco Trust Company; and Fraud
Prevention Manager for Invesco Investment Services, Inc.
|
Todd F. Kuehl - 1969
|
Chief
Compliance
Officer and
Senior Vice
President
|
2020
|
Chief Compliance Officer, Invesco Advisers, Inc. (registered
investment adviser); and Chief Compliance Officer and Senior
Vice President, The Invesco Funds
Formerly: Managing Director and Chief Compliance Officer, Legg
Mason (Mutual Funds); Chief Compliance Officer, Legg Mason
Private Portfolio Group (registered investment adviser)
|
James Bordewick, Jr. -
(1959)
|
Senior Vice
President and
Senior Officer
|
2022
|
Senior Vice President and Senior Officer, The Invesco Funds; and
Chief Legal Officer, KingsCrowd, Inc. (research and analytical
platform for investment in private capital markets)
Formerly, Chief Operating Officer and Head of Legal and
Regulatory, Netcapital (private capital investment platform);
Managing Director, General Counsel of asset management and
Chief Compliance Officer for asset management and private
banking, Bank of America Corporation; Chief Legal Officer,
Columbia Funds and BofA Funds; Senior Vice President and
Associate General Counsel, MFS Investment Management; Chief
Legal Officer, MFS Funds; Associate, Ropes & Gray; Associate,
|
Name, Year of Birth
|
Position(s) Held
with the Trust
|
Trustee and/or
Officer Since
|
Principal Occupation(s) During Past 5 Years
|
Gaston Snow & Ely Bartlett.
|
Trustee
|
Aggregate
Compensation
from the
Fund (1)
|
Retirement Benefits
Accrued
by All
Invesco Funds
|
Estimated
Annual
Benefits
Upon
Retirement(2)
|
Total Compensation
from All
Invesco Funds
Paid to
Trustees(3)
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Independent Trustees(4,5)
|
Trustee
|
Aggregate
Compensation
from the
Fund (1)
|
Retirement Benefits
Accrued
by All
Invesco Funds
|
Estimated
Annual
Benefits
Upon
Retirement(2)
|
Total Compensation
from All
Invesco Funds
Paid to
Trustees(3)
|
Number of
Funds in
Fund
Complex
Overseen by
Trustee
|
Beth Ann Brown
|
$1,405
|
-
|
-
|
$428,989
|
184
|
Cynthia Hostetler
|
1,445
|
-
|
-
|
443,985
|
184
|
Eli Jones
|
1,317
|
-
|
-
|
403,989
|
184
|
Elizabeth Krentzman
|
1,477
|
-
|
-
|
461,485
|
184
|
Anthony J. LaCava, Jr.
|
1,521
|
-
|
-
|
466,263
|
184
|
Prema Mathai-Davis
|
1,301
|
-
|
205,000
|
398,989
|
184
|
Joel W. Motley
|
1,325
|
-
|
-
|
406,489
|
184
|
Teresa M. Ressel
|
1,371
|
-
|
-
|
422,589
|
184
|
Ann Barnett Stern
|
1,434
|
-
|
-
|
430,089
|
184
|
Robert C. Troccoli
|
1,349
|
-
|
-
|
418,989
|
184
|
Daniel S. Vandivort
|
1,347
|
-
|
-
|
420,089
|
184
|
Christopher L. Wilson
|
2,279
|
-
|
-
|
690,933
|
184
|
Independent Trustees
|
Dollar Range of
Equity Securities
in the Fund
|
Aggregate Dollar Range of Equity
Securities in All Registered
Investment Companies Overseen
by Trustee in the Fund Complex
|
Beth Ann Brown
|
None
|
Over $100,000
|
Jack M. Fields
|
None
|
Over $100,000
|
Cynthia Hostetler
|
None
|
Over $100,000(1)
|
Independent Trustees
|
Dollar Range of
Equity Securities
in the Fund
|
Aggregate Dollar Range of Equity
Securities in All Registered
Investment Companies Overseen
by Trustee in the Fund Complex
|
Eli Jones
|
None
|
Over $100,000(1)
|
Elizabeth Krentzman
|
None
|
Over $100,000
|
Anthony J. LaCava, Jr.
|
None
|
Over $100,000(1)
|
Prema Mathai-Davis
|
$1 - $10,000
|
Over $100,000(1)
|
Joel W. Motley
|
None
|
Over $100,000(1)
|
Teresa M. Ressel
|
None
|
Over $100,000
|
Ann Barnett Stern
|
None
|
Over $100,000(1)
|
Robert C. Troccoli
|
None
|
Over $100,000(1)
|
Daniel S. Vandivort
|
None
|
Over $100,000(1)
|
James D. Vaughn
|
None
|
Over $100,000(1)
|
Christopher L. Wilson
|
None
|
Over $100,000(1)
|
Interested Trustee
|
||
Martin L. Flanagan
|
$1 - $10,000
|
Over $100,000
|
Name and Address of Holder
|
Class of Shares
|
Approximate
Percentage of Ownership
on June 1, 2022
|
MLPF&S for the Sole Benefit of Its
Customers*
|
A
|
7.20%
|
Attn: Fund Administration
|
IC
|
6.14
|
4800 Deer Lake Drive E, 2nd Floor
|
||
Jacksonville, FL 32246-6484
|
||
Morgan Stanley Smith Barney*
|
A
|
9.73
|
For Exclusive Benefits of Customers
|
C
|
35.80
|
1 New York Plaza, Floor 12
|
IB
|
30.23
|
Name and Address of Holder
|
Class of Shares
|
Approximate
Percentage of Ownership
on June 1, 2022
|
New York, NY 10004-1932
|
IC
|
12.28
|
National Financial Services LLC*
|
A
|
8.47
|
FEBO Customers Mutual Funds
|
C
|
9.36
|
499 Washington Boulevard, Floor 5
|
IB
|
8.21
|
Jersey City, NJ 07310-2010
|
IC
|
10.03
|
Pershing LLC*
|
A
|
9.70
|
1 Pershing Plaza
|
C
|
8.56
|
Jersey City, NJ 07399-0002
|
Y
|
38.54
|
IB
|
5.62
|
|
IC
|
8.50
|
|
Raymond James*
|
A
|
14.75
|
Omnibus for Mutual Funds
|
C
|
5.70
|
Attn: Courtney Waller
|
Y
|
28.00
|
880 Carillon Parkway
|
||
St. Petersburg, FL 33716-1102
|
||
Wells Fargo Clearing Services LLC*
|
A
|
10.20
|
Special Custody Acct for the Exclusive
Benefit of Customer
|
C
|
10.69
|
2801 Market Street
|
IB
|
6.84
|
Saint Louis, MO 63103-2523
|
IC
|
9.50
|
TD Ameritrade FBO
|
Y
|
5.34
|
William & Linda Hoyt Joint Trust
|
||
Herndon VA 20171-2411
|
||
LPL Financial*
|
A
|
6.97
|
Omnibus Customer Account Attn: Mutual
Fund Trading
|
C
|
5.66
|
4707 Executive Drive
|
IC
|
7.96
|
San Diego, CA 92121-3091
|
Y
|
12.49
|
UBS WM USA*
|
IC
|
5.34
|
1000 Harbor Blvd
|
||
Weehawken NJ 07086
|
Average Daily Net Assets
|
% Per Annum
|
First $500 million
|
0.900%
|
Next $1 billion
|
0.850%
|
Next $1 billion
|
0.825%
|
Next $500 million
|
0.800%
|
Over $3 billion
|
0.775%
|
Fiscal Year Ended February 28, 2022
|
Fiscal Year Ended February 28, 2021
|
Fiscal Year Ended February 29, 2020
|
|
For the last three fiscal years,
the Fund paid the Adviser the
approximate advisory fees of
|
$4,239,031
|
$4,273,057
|
$5,309,189
|
Fiscal Year
Ended
February 28, 2022
|
Fiscal Year
Ended
February 28, 2021
|
Fiscal Year
Ended
February 29, 2020
|
|
For the last three fiscal years, the Fund paid the Administrator the approximate
administrative fees of
|
$1,192,127
|
$1,181,179
|
$1,487,997
|
Portfolio
Manager
|
Dollar Range of
Investments
in the Fund
|
Scott Baskind
|
None
|
Thomas Ewald
|
None
|
Philip Yarrow
|
None
|
Other Registered
Investment Companies
Managed
|
Other Pooled
Investment Vehicles
Managed
|
Other
Accounts
Managed
|
||||
Portfolio Manager
|
Number of
Accounts
|
Assets
(in millions)
|
Number of
Accounts
|
Assets
(in millions)
|
Number of
Accounts
|
Assets
(in millions)
|
Scott Baskind
|
4
|
$10,969.5
|
6
|
$8,746.5
|
18
|
$7,178.8
|
Thomas Ewald
|
5
|
$ 9,497.9
|
5
|
$8,435.9
|
17
|
$6,972.3
|
Philip Yarrow
|
5
|
$ 9,497.9
|
5
|
$8,435.9
|
18
|
$7,178.8
|
Sub-Adviser
|
Performance time period1
|
Invesco2
|
One-, Three- and Five-year performance against Fund peer group
|
Invesco Canada2
|
|
Invesco Deutschland2
|
|
Invesco Hong Kong2
|
|
Invesco Asset Management2
|
|
Invesco India2
|
|
Invesco Listed Real Assets Division2
|
|
Invesco Senior Secured2, 3
|
Not applicable
|
Invesco Capital2, 4
|
|
Invesco Japan
|
One-, Three- and Five-year performance
|
1 Rolling time periods based on calendar year-end.
|
|
2 Portfolio Managers may be granted an annual deferral award that vests on a pro-rata basis over a four-year period.
|
|
3 Invesco Senior Secured's bonus is based on annual measures of equity return and standard tests of collateralization performance.
|
|
4 Portfolio Managers for Invesco Capital base their bonus on Invesco results as well as overall performance of Invesco Capital.
|
Paid
|
Unreimbursed*
|
% of average daily net assets
|
|
Invesco Senior Loan Fund
|
|||
Class A Shares
|
$148,815
|
$148,815
|
0.25%
|
Class C Shares
|
$464,989
|
$464,989
|
1.00
|
Class IC Shares
|
$40,077
|
$40,077
|
0.15%
|
Advertising
|
Printing
&
Mailing
|
Seminars
|
Underwriters
Compensation
|
Dealers
Compensation
|
Personnel
|
Travel
|
|
Invesco Senior Loan Fund
|
|||||||
Class A
|
$0
|
$0
|
$0
|
$0
|
$ 148,815
|
$0
|
$0
|
Class C
|
$67
|
$26
|
$46
|
$6,972
|
$456,878
|
$985
|
$15
|
Class IC
|
$1,148
|
$443
|
$798
|
$0
|
$20,444
|
$16,981
|
$263
|
Commissions Paid:
|
All Brokers
|
Affiliated Brokers
|
Fiscal year ended February 28, 2022
|
$0
|
$0
|
Fiscal year ended February 28, 2021
|
$0
|
$0
|
Fiscal year ended February 29, 2020
|
$0
|
$0
|
Fiscal year ended February 28, 2022
Percentages:
|
||
% of Total Brokerage Commissions Paid
to Affiliated Brokers
|
0%
|
0%
|
% of Total Brokerage Transaction
Dollars Effected Through Affiliated
Brokers
|
0%
|
0%
|