https://www.sec.gov/Archives/edgar/data/880859/000119312519284727/d820045d497.htm497 1 d820045d497.htm 497
Statutory Prospectus and Statement of Additional Information Supplement dated November 5, 2019
The purpose of this supplement is to provide you with changes to the current Statutory Prospectuses and Statement of Additional Information for Class A, C, R, Y, R5 and R6 shares of the Fund listed below:
Invesco Oppenheimer International Small-Mid Company Fund
This supplement amends the Statutory Prospectuses and Statement of Additional Information of the above referenced fund (the “Fund”) and is in addition to any other supplement(s). You should read this supplement in conjunction with the Statutory Prospectuses and Statement of Additional Information and retain it for future reference.
The following information replaces the table in its entirety under the heading “Fund Summary - Management of the Fund” in the prospectuses:
“Portfolio Managers Title Length of Service on the Fund
David Nadel Portfolio Manager (lead) 2019
Frank Jennings, PhD Portfolio Manager 2019 (predecessor fund 2018)”
Mr. Jennings will continue to serve as Portfolio Manager to ensure a smooth transition.
The following information replaces in its entirety the information under, and including, the heading “FUND MANAGEMENT – Portfolio Manager” for the Fund in the prospectuses:
“FUND MANAGEMENT – Portfolio Managers
The following individuals are jointly and primarily responsible for the day-to-day management of the Fund’s portfolio:
• David Nadel (lead manager), Portfolio Manager, who has been responsible for the Fund since 2019 and has been associated with Invesco and/or its affiliates since 2019. Prior to joining Invesco, Mr. Nadel was employed by Royce & Associates from 2006 to 2019, where he served as Principal, Director of International Research and Portfolio Manager.
•Frank Jennings, PhD, Portfolio Manager, who has been responsible for the Fund since 2019 and has been associated with Invesco and/or its affiliates since 2019. Mr. Jennings will continue to serve as Portfolio Manager to ensure a smooth transition. Prior to the commencement of the Fund’s operations, Mr. Jennings managed the predecessor fund since 2018 and was associated with OppenheimerFunds, a global asset management firm, since 1995.
More information on the portfolio managers may be found at www.invesco.com/us. The website is not part of this prospectus.
The Fund’s SAI provides additional information about the portfolio managers’ investments in the Fund, a description of the compensation structure and information regarding other accounts managed.”
The Statement of Additional Information is also amended to reflect the portfolio manager changes above.
As of November 5, 2019, Mr. Nadel manages one other vehicle in the Invesco fund complex but does not own shares of the Fund.
O-ISMC-PRO SUP 110519
Comments
You are correct as listed in the below 5/25/19 filing:
https://www.sec.gov/Archives/edgar/data/880859/000119312519154380/d723247d485bpos.htm#toc726790_201
..."Limited Fund Offering
The Fund is closed to new investors. Investors should note that the Fund reserves the right to refuse any order that might disrupt the efficient management of the Fund.
Investors who were invested in the Fund on May 24, 2019, may continue to make additional purchases in their accounts.
Any Employer Sponsored Retirement and Benefit Plan or its affiliated plans may continue to make additional purchases of Fund shares and may add new accounts at the plan level that may purchase Fund shares if the Employer Sponsored Retirement and Benefit Plan or its affiliated plan had invested in the Fund as of May 24, 2019. New Employer Sponsored Retirement and Benefit Plans or its affiliated plans authorized prior to May 24, 2019 will have until December 31, 2019 to fund the account. Any brokerage firm wrap program may continue to make additional purchases of Fund shares and may add new accounts at the program level that may purchase Fund shares if the brokerage firm wrap program had invested in the Fund as of May 24, 2019. The Fund may also accept investments by 529 college savings plans managed by the Adviser during this limited offering.
The Fund may resume sale of shares to new investors on a future date if the Adviser determines it is appropriate."
1. The manager, Rezo Kanovich, who really made this Invesco Oppenheimer fund successful left to join Artisan Funds before the Invesco merger occurred. He now runs the Artisan International Small-Mid (ARTJX) fund.
2. David Nadel previously ran Royce International Premier (RYIPX) very successfully.
In other words, this is good news for Invesco Oppenheimer shareholders after Kanovich's departure, but bad news for Royce shareholders.
(Sitting at snow-covered O’Hare at the moment. There’s some infrastructure! )
Regards,
Ted
Now, that raises an interesting question ... Oh - Never mind.