497
Invesco-SAI SUP
Statement of Additional Information Supplement dated January 6, 2017
The purpose of this supplement is to provide you with changes to the current Statements of Additional Information for Class A, A2, AX, B, BX, C, CX, P,
R, RX, R5, R6, S, Y, Invesco Cash Reserve, Investor Class, Cash Management, Corporate, Institutional, Personal Investment, Private Investment, Reserve and Resource Class shares of the Funds, as applicable, listed below:
Invesco Alternative Strategies Fund
Invesco All Cap Market Neutral Fund
Invesco American Franchise
Fund
Invesco American Value Fund
Invesco Asia Pacific
Growth Fund
Invesco Balanced-Risk Allocation Fund
Invesco
Balanced-Risk Commodity Strategy Fund
Invesco Balanced-Risk Retirement 2020 Fund
Invesco Balanced-Risk Retirement 2030 Fund
Invesco Balanced-Risk
Retirement 2040 Fund
Invesco Balanced-Risk Retirement 2050 Fund
Invesco Balanced-Risk Retirement Now Fund
Invesco California
Tax-Free Income Fund
Invesco Charter Fund
Invesco Comstock
Fund
Invesco Conservative Allocation Fund
Invesco
Conservative Income Fund
Invesco Convertible Securities Fund
Invesco Core Plus Bond Fund
Invesco Corporate Bond Fund
Invesco Developing Markets Fund
Invesco Diversified Dividend
Fund
Invesco Dividend Income Fund
Invesco Emerging Markets
Flexible Bond Fund
Invesco Emerging Markets Equity Fund
Invesco Endeavor Fund
Invesco Energy Fund
Invesco Equally-Weighted S&P 500 Fund
Invesco Equity and
Income Fund
Invesco European Growth Fund
Invesco European
Small Company Fund
Invesco Floating Rate Fund
Invesco
Global Core Equity Fund
Invesco Global Growth Fund
Invesco
Global Health Care Fund
Invesco Global Infrastructure Fund
Invesco Global Low Volatility Equity Yield Fund
Invesco Global
Market Neutral Fund
Invesco Global Opportunities Fund
Invesco Global Real Estate Fund
Invesco Global Real Estate
Income Fund
Invesco Global Responsibility Equity Fund
Invesco Global Small & Mid Cap Growth Fund
Invesco
Global Targeted Returns Fund
Invesco Gold & Precious Metals Fund
Invesco Government Money Market Fund
Invesco Greater China Fund
Invesco Growth Allocation Fund
Invesco Growth and Income
Fund
Invesco High Yield Fund
Invesco High Yield
Municipal Fund
Invesco Income Allocation Fund
Invesco
Intermediate Term Municipal Income Fund
Invesco International Allocation Fund
Invesco International Companies Fund
Invesco International Core
Equity Fund
Invesco International Growth Fund
Invesco
International Small Company Fund
Invesco Limited Term Municipal Income Fund
Invesco Long/Short Equity Fund
Invesco Low Volatility Emerging
Markets Fund
Invesco Low Volatility Equity Yield Fund
Invesco Macro Allocation Strategy Fund
Invesco Macro
International Equity Fund
Invesco Macro Long/Short Fund
Invesco Mid Cap Core Equity Fund
Invesco Mid Cap Growth Fund
Invesco MLP Fund
Invesco Moderate Allocation Fund
Invesco Multi-Asset Income Fund
Invesco Multi-Asset Inflation Fund
Invesco Municipal Income Fund
Invesco New York Tax Free Income
Fund
Invesco Pacific Growth Fund
Invesco Pennsylvania Tax
Free Income Fund
Invesco Quality Income Fund
Invesco Real
Estate Fund
Invesco S&P 500 Index Fund
Invesco Select
Companies Fund
Invesco Select Opportunities Fund
Invesco
Short Duration High Yield Municipal Fund
Invesco Short Duration Inflation Protected Fund
Invesco Short Term Bond Fund
Invesco Small Cap Discovery Fund
Invesco Small Cap Equity Fund
Invesco Small Cap Growth Fund
Invesco Small Cap Value Fund
Invesco Strategic Real Return
Fund
Invesco Summit Fund
Invesco Tax-Exempt Cash Fund
Invesco Technology Fund
Invesco Technology Sector Fund
Invesco U.S. Government Fund
Invesco Value Opportunities Fund
Invesco World Bond Fund
Government & Agency
Portfolio
Liquid Assets Portfolio
Premier Portfolio
Premier Tax-Exempt Portfolio
Premier U.S. Government Money
Portfolio
STIC Prime Portfolio
Tax-Free Cash Reserve
Portfolio
Treasury Obligations Portfolio
Treasury Portfolio
Effective as of the close of business on
December 31, 2016, Mr. Albert R. Dowden and Ms. Suzanne H. Woolsey retired as trustees of each Fund and any references to Mr. Dowden and Ms. Woolsey serving as a trustee or committee member are hereby removed.
Invesco-SAI SUP