SUPPLEMENT DATED march 2, 2022 TO THE current
statements of
additional information FOR:
Invesco Core Plus Bond Fund
Invesco Corporate Bond Fund
Invesco EQV European Small Company Fund
Invesco Income Advantage International Fund
Invesco International Diversified
Fund
Invesco V.I. Global Strategic Income Fund
(each, a “Fund”)
This
supplement amends the Statements of Additional Information (“SAI”) of each of the above referenced Funds and is in addition to any other supplement(s). You should read this supplement in conjunction with the prospectus and retain it for
future reference.
The following
information is added under the heading, “Description of the Funds and Their Investments and Risks – Investment Strategies and Risks – Foreign Investments”
in each Fund’s SAI:
Risks Related to Russian
Invasion of Ukraine. In late February 2022, Russian military forces invaded Ukraine, significantly amplifying
already existing geopolitical tensions among Russia, Ukraine, Europe, NATO and the West. Russia’s invasion, the responses of countries and political bodies to Russia’s actions, and the potential for wider conflict may increase financial market volatility and could have severe
adverse effects on regional and global economic markets, including the markets for certain securities and commodities such as oil and natural gas. Following Russia’s actions,
various countries, including the U.S., Canada, the United Kingdom, Germany, and France, as well as the European Union, issued broad-ranging economic sanctions against Russia. The sanctions consist of the prohibition of trading in certain
Russian securities and engaging in certain private transactions, the prohibition of doing business with certain Russian corporate entities, large financial institutions, officials
and oligarchs, and the freezing of Russian assets. The sanctions include a commitment by certain countries and
the European Union to remove selected Russian banks from the Society for Worldwide Interbank Financial Telecommunications, commonly called “SWIFT”, the electronic
network that connects banks globally, and imposed restrictive measures to prevent the Russian Central Bank from
undermining the impact of the sanctions. A number of large corporations and U.S. states have also announced
plans to divest interests or otherwise curtail business dealings with certain Russian businesses.
The imposition of these current sanctions (and potential further sanctions in response to continued
Russian military activity) and other actions undertaken by countries and businesses may adversely impact
various sectors of the Russian economy, including but not limited to, the financials, energy, metals and mining, engineering, and defense and defense-related materials sectors.
Such actions also may result in the decline of the value and liquidity of Russian securities, a weakening of the ruble, and could impair the ability of a Fund to buy, sell, receive, or deliver those securities. Moreover, the measures could
adversely affect global financial and energy markets and thereby negatively affect the value of the Fund's investments beyond any direct exposure to Russian issuers or those of
adjoining geographic regions. In response to sanctions, the Russian Central Bank raised its interest rates and
banned sales of local securities by foreigners. Russia may take additional counter measures or retaliatory
actions, which may further impair the value and liquidity of Russian securities and Fund investments. Such actions could, for example, include restricting gas exports to other
countries, seizure of U.S. and European residents' assets, or undertaking or provoking other military conflict elsewhere in Europe, any of which could exacerbate negative consequences on global financial markets and the economy. The actions
discussed above could have a negative effect on the performance of Funds that have exposure to Russia. While diplomatic efforts have been ongoing, the conflict between Russia and
Ukraine is currently unpredictable and has the potential to result in broadened military actions. The duration
of ongoing hostilities and corresponding sanctions and related events cannot be predicted and may result in a negative impact on performance and the value of Fund investments,
particularly as it relates to Russia exposure.