497
GBL-SAI-SUP-1
Statement of Additional Information Supplement dated March 17, 2020
The purpose of this supplement is to provide you with changes to the current Statements of Additional Information for the Funds listed below:
Invesco American Franchise Fund
Invesco American Value 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 Comstock Fund
Invesco Conservative Allocation Fund
Invesco Convertible Securities Fund
Invesco Core Plus Bond Fund
Invesco Corporate Bond Fund
Invesco Dividend Income Fund
Invesco Energy Fund
Invesco Equally-Weighted S&P 500 Fund
Invesco Equity and Income Fund
Invesco European Small Company Fund
Invesco Floating Rate Fund
Invesco Global Core Equity Fund
Invesco Global Growth Fund
Invesco Global Infrastructure Fund
Invesco Global Low Volatility Equity Yield Fund
Invesco Global Real Estate Fund
Invesco Global Real Estate Income Fund
Invesco Global Small & Mid Cap Growth Fund
Invesco Gold & Precious Metals Fund
Invesco Government & Agency Portfolio
Invesco Government Money Market Fund
Invesco Growth Allocation Fund
Invesco Growth and Income Fund
Invesco High Yield Bond Factor Fund
Invesco High Yield Fund
Invesco High Yield Municipal Fund
Invesco Income Allocation Fund
Invesco Income Fund
Invesco Intermediate Bond Factor Fund
Invesco Intermediate Term Municipal Income Fund
Invesco International Allocation Fund
Invesco International Small Company Fund
Invesco Limited Term Municipal Income Fund
Invesco Liquid Assets Portfolio
Invesco Low Volatility Equity Yield Fund
Invesco Mid Cap Core Equity Fund
Invesco Mid Cap Growth Fund
Invesco Moderate Allocation Fund
Invesco Multi-Asset Income Fund
Invesco Municipal Income Fund
Invesco New York Tax Free Income Fund
Invesco Oppenheimer Capital Appreciation Fund
Invesco Oppenheimer Capital Income Fund
Invesco Oppenheimer Developing Markets Fund
Invesco Oppenheimer Discovery Fund
Invesco Oppenheimer Discovery Mid Cap Growth Fund
Invesco Oppenheimer Dividend Opportunity Fund
Invesco Oppenheimer Emerging Markets Innovators Fund
Invesco Oppenheimer Equity Income Fund
Invesco Oppenheimer Global Fund
Invesco Oppenheimer Global Infrastructure Fund
Invesco Oppenheimer Global Multi-Asset Income Fund
Invesco Oppenheimer Global Opportunities Fund
Invesco Oppenheimer Global Strategic Income Fund
Invesco Oppenheimer Gold & Special Minerals Fund
Invesco Oppenheimer Government Cash Reserves Fund
Invesco Oppenheimer Government Money Market Fund
Invesco Oppenheimer Intermediate Term Municipal Fund
Invesco Oppenheimer International Bond Fund
Invesco Oppenheimer International Diversified Fund
Invesco Oppenheimer International Small-Mid Company Fund
Invesco Oppenheimer Limited-Term Bond Fund
Invesco Oppenheimer Limited-Term Government Fund
Invesco Oppenheimer Main Street Fund®
Invesco Oppenheimer Main Street Mid Cap Fund®
Invesco Oppenheimer Main Street Small Cap Fund®
Invesco Oppenheimer Master Event-Linked Bond Fund
Invesco Oppenheimer Master Inflation Protected Securities Fund
Invesco Oppenheimer Master Loan Fund
Invesco Oppenheimer Mid Cap Value Fund
Invesco Oppenheimer Municipal Fund
Invesco Oppenheimer Portfolio Series: Active Allocation Fund
Invesco Oppenheimer Portfolio Series: Conservative Investor Fund
Invesco Oppenheimer Portfolio Series: Growth Investor Fund
Invesco Oppenheimer Portfolio Series: Moderate Investor Fund
Invesco Oppenheimer Real Estate Fund
Invesco Oppenheimer
Rochester® AMT-Free Municipal Fund
Invesco Oppenheimer Rochester® AMT-Free New York Municipal Fund
Invesco Oppenheimer Rochester® California Municipal Fund
Invesco Oppenheimer Rochester® High Yield Municipal Fund
Invesco Oppenheimer Rochester® Limited Term California Municipal Fund
Invesco Oppenheimer Rochester® Limited Term New York Municipal Fund
Invesco Oppenheimer Rochester® Municipals Fund
Invesco Oppenheimer Rochester® New Jersey Municipal Fund
Invesco Oppenheimer Rochester® Pennsylvania Municipal Fund
Invesco Oppenheimer Rochester® Short Duration High Yield Municipal Fund
Invesco Oppenheimer Senior Floating Rate Fund
Invesco Oppenheimer Senior Floating Rate Plus Fund
Invesco Oppenheimer Short Term Municipal Fund
Invesco Oppenheimer Small Cap Value Fund
Invesco Oppenheimer SteelPath MLP Alpha Fund
Invesco Oppenheimer SteelPath MLP Alpha Plus Fund
Invesco Oppenheimer SteelPath MLP Income Fund
Invesco Oppenheimer SteelPath MLP Select 40 Fund
Invesco Oppenheimer Ultra-Short Duration Fund
Invesco Peak RetirementTM 2015 Fund
Invesco Peak RetirementTM 2020 Fund
Invesco Peak RetirementTM 2025 Fund
Invesco Peak RetirementTM 2030 Fund
Invesco Peak RetirementTM 2035 Fund
Invesco Peak RetirementTM 2040 Fund
Invesco Peak RetirementTM 2045 Fund
Invesco Peak RetirementTM 2050 Fund
Invesco Peak RetirementTM 2055 Fund
Invesco Peak RetirementTM 2060 Fund
Invesco Peak RetirementTM 2065 Fund
Invesco Peak RetirementTM Now Fund
Invesco Pennsylvania Tax Free Income Fund
Invesco Premier Portfolio
Invesco Premier Tax-Exempt Portfolio
Invesco Premier U.S. Government Money Portfolio
Invesco Quality Income Fund
Invesco Real Estate Fund
GBL-SAI-SUP-1
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GBL-SAI-SUP-1
Invesco S&P 500 Index 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 STIC Prime Portfolio
Invesco Tax-Free Cash Reserve Portfolio
Invesco Technology Fund
Invesco Technology Sector Fund
Invesco Treasury Obligations Portfolio
Invesco Treasury Portfolio
Invesco Value Opportunities Fund
This supplement amends the Statement of
Additional Information for each of the above referenced funds (the “Funds”) and is in addition to any other supplement(s), unless otherwise specified. You should read this supplement in conjunction with the Statement of Additional
Information and retain it for future reference.
The following information is added immediately after the section titled “Investment Strategies
and Risks – Cybersecurity Risk” appearing under the heading “Description of the Funds and Their Investments and Risks” in the Statement of Additional Information:
Natural Disaster/Epidemic Risk
Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related
phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and
inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Funds’ investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are
increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries, including the U.S. These disruptions could prevent the Funds from executing advantageous investment decisions in a timely manner and
negatively impact the Funds’ ability to achieve their investment objectives. Any such event(s) could have a significant adverse impact on the value and risk profile of the Funds.