-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IBrvoL/Bi4dZUdMYOXdwgCETjjRGL54KPnDX43iDN8Qt687GOU6CS+NvKmoJBDrI kqz5GErx69Qj1jly97rpGg== 0000950123-09-058976.txt : 20091106 0000950123-09-058976.hdr.sgml : 20091106 20091106105951 ACCESSION NUMBER: 0000950123-09-058976 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20090831 FILED AS OF DATE: 20091106 DATE AS OF CHANGE: 20091106 EFFECTIVENESS DATE: 20091106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIM TREASURERS SERIES TRUST CENTRAL INDEX KEY: 0000828806 IRS NUMBER: 586213968 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-05460 FILM NUMBER: 091163253 BUSINESS ADDRESS: STREET 1: 11 GREENWAY PLAZA STREET 2: SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 713-626-1919 MAIL ADDRESS: STREET 1: 11 GREENWAY PLAZA STREET 2: SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: AIM TREASURERS SERIES FUNDS DATE OF NAME CHANGE: 20031126 FORMER COMPANY: FORMER CONFORMED NAME: AIM TREASURERS SERIES FUNDS INC DATE OF NAME CHANGE: 20031001 FORMER COMPANY: FORMER CONFORMED NAME: INVESCO TREASURERS SERIES FUNDS INC DATE OF NAME CHANGE: 19990524 0000828806 S000000173 Premier Portfolio C000000397 Investor Class IMRXX C000029748 Institutional Class 0000828806 S000000174 Premier Tax-Exempt Portfolio C000000398 Investor Class ITTXX C000029749 Institutional Class 0000828806 S000000176 Premier U.S. Government Money Portfolio C000000400 Investor Class FUGXX C000029750 Institutional Class N-CSR 1 h68102nvcsr.txt FORM N-CSR ------------------------ OMB APPROVAL ------------------------ OMB Number: 3235-0570 Expires: August 31, 2011 Estimated average burden hours per response: 18.9 ------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-05460 AIM Treasurer's Series Trust (Exact name of registrant as specified in charter) 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Address of principal executive offices) (Zip code) Karen Dunn Kelley 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Name and address of agent for service) Registrant's telephone number, including area code: (713) 626-1919 Date of fiscal year end: 8/31 Date of reporting period: 8/31/09 Item 1. Reports to Stockholders. [INVESCO AIM LOGO] INVESTOR CLASS - -- service mark -- AIM TREASURER'S SERIES TRUST (ATST) Premier Portfolio Premier U.S. Government Money Portfolio Premier Tax-Exempt Portfolio Annual Report to Shareholders - August 31, 2009 [GRAPHIC] 2 Letters to Shareholders 4 Fund Data 4 Fund Composition by Maturity 5 Fund Objectives and Strategies 6 Schedules of Investments 22 Financial Statements 24 Notes to Financial Statements 30 Financial Highlights 31 Auditor's Report 32 Fund Expenses 33 Approval of Investment Advisory and Sub-Advisory Agreements 37 Tax Information T-1 Trustees and Officers
Unless otherwise stated, information presented in this report is as of August 31, 2009, and is based on total net assets. Unless otherwise stated, all data provided by Invesco Aim. INVESTOR CLASS SHARES OF THE FUND ARE OFFERED ONLY TO CERTAIN GRANDFATHERED INVESTORS. SEE EACH FUND'S PROSPECTUS FOR MORE INFORMATION. NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE Dear Fellow Shareholders: I am pleased to provide you with this annual report on the performance of the Investor Class of AIM Treasurer's Series Trust, part of Invesco Aim Global Cash Management, for the fiscal year ended August 31, 2009. Thank you for investing with us. [DUNN KELLEY PHOTO] Through a combination of short-term cash management vehicles and selective use of a longer maturity schedule for enhanced yields, each Fund continued to provide competitive returns and maintain a relatively short maturity structure. MARKET CONDITIONS AFFECTING MONEY MARKET FUNDS Karen Dunn Kelley The year covered by this report was difficult -- for investors and investment professionals alike. The 12 months ended August 31, 2009, included a sharp market sell-off in the final few months of 2008. The decline had a number of causes, the most immediate being unprecedented turmoil in credit markets. Economic uncertainty prompted banks to hoard cash and reduce lending, and caused investors to shun short-term corporate debt. As a result, businesses found it difficult to fund their day-to-day operations, and the U.S. economy -- as well as economies around the globe -- virtually froze briefly. The U.S. economy contracted significantly throughout the year. Gross domestic product (GDP), the broadest measure of overall economic activity, contracted at annualized rates of 2.7%, 5.4% and 6.4% in the third and fourth quarters of 2008 and the first quarter of 2009, respectively.(1) Initial estimates suggested U.S. GDP shrank at an annualized rate of 1.0% in the second quarter of 2009.(1) This economic contraction caused a sharp increase in unemployment. The national unemployment rate rose from 6.2% in August 2008 to 9.4% in July 2009.(2) The housing market remained weak. Sales of new and existing homes continued their multi-year decline; housing starts fell; and home values nationally declined. Lower home values caused some homeowners to feel less wealthy. These trends -- together with tighter credit -- prompted consumers to reduce their spending, particularly on large, discretionary items. Consumer spending, which accounts for more than two-thirds of the U.S. economy(3), was sluggish during the year. In his semiannual monetary policy report to Congress in late July, U.S. Federal Reserve Board (the Fed) Chairman Ben Bernanke summarized the stresses and strains the U.S. and global economies suffered in late 2008 and early 2009. Importantly, he suggested that the aggressive, coordinated actions taken by governments and central banks around the world finally may be yielding results. He testified that: - The pace of overall economic decline appears to have slowed significantly. - Credit availability, for consumers and businesses, has improved noticeably. - Investors' extreme risk aversion has eased somewhat. - The decline in housing activity appears to have moderated. While these and other trends offer encouragement, uncertainties remain. Chairman Bernanke testified that he anticipates a gradual recovery in 2010 with some acceleration in economic growth in 2011, together with subdued inflation over the next two years. At the start of the fiscal year, three-month Treasury bills yielded 1.71% and 30-year Treasury bonds yielded 4.41%.(4) By August 31, 2009, yields on both had declined, with three-month Treasuries yielding just 0.15% and 30-year Treasuries yielding 4.18%.(4) The sharp decline in short-term yields was due chiefly to the Fed's unprecedented monetary easing and investor preference for relatively safe, liquid and short-term investments during a period of economic uncertainty. Because money market funds invest in such securities, the yield you earned on your investment in the Fund declined during the fiscal year. STRENGTH AND EXPERIENCE Invesco Aim Global Cash Management's 30-year tradition of providing high-quality products, a disciplined investment process, advanced credit research, innovative technology and responsive client service is why we are, today, a leader in the cash management industry, with $96.4 billion in assets under management as of August 31, 2009. While we rely on a specialized team of investment professionals who are experienced in managing and distributing short-term investment products worldwide, we also benefit from being part of Invesco -- one of the world's largest(5) and most diversified global investment management firms. Such strength and experience is particularly valuable during periods of uncertainty and market tumult, such as we experienced this year. Regardless of market conditions, our experienced investment team is dedicated to helping our clients achieve their short-term cash management needs. We are also dedicated to providing excellent customer service. If you have questions about this report or your account, please contact one of our cash management representatives at 800 659 1005. Thank you for investing with us. All of us at Invesco Aim Global Cash Management look forward to serving you. Sincerely, /s/ KAREN DUNN KELLEY Karen Dunn Kelley CEO, Invesco Worldwide Fixed Income 1 Bureau of Economic Analysis; 2 Bureau of Labor Statistics; 3 Reuters; 4 Barclays Capital; 5 Pensions & Investments The views and opinions expressed in this letter are those of Invesco Aim Advisors, Inc. These views and opinions are subject to change at any time based on factors such as market and economic conditions. These views and opinions may not be relied upon as investment advice or recommendations, or as an offer for a particular security. Statements of fact are from sources considered reliable, but Invesco Aim Advisors, Inc. makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy. 2 AIM TREASURER'S SERIES TRUST
Dear Fellow Shareholders: Even as the economy shows some positive momentum toward recovery, please be assured that your [CROCKETT Board of Trustees continues to oversee the management of the AIM Funds with careful attention PHOTO] to expenses and performance. At its June meeting, your Board reviewed and renewed for another year the investment advisory contracts between the AIM Funds and Invesco Aim Advisors, Inc. Again this year, the Bruce Crockett decision resulted from a year-long process during which your Board, working in sub-committees, reviewed the performance, fees and expenses of each AIM Fund in absolute terms and relative to industry averages and other products advised by Invesco Aim Advisors and its affiliated sub-advisers. The independent Trustees met and voted separately, receiving independent advice from independent legal counsel and assistance from the independent Senior Officer, who reports directly to the independent Trustees. Exercising our fiduciary responsibility on your behalf, we have again taken care to ensure that these agreements put shareholder interests first. You can find details on the results of both the 2008 and 2009 investment advisory and sub-advisory agreement renewal process at invescoaim.com. Go to "Products & Performance" and click on "Investment Advisory Agreement Renewals." The investment strategies of the AIM money market funds have again been tested and proven through the recent economic crisis. Committed to delivering safety, liquidity and yield according to their respective investment objectives, the AIM money market funds consistently follow a conservative approach. Statements that were true six months ago, in my last semi-annual letter, remain true as of this writing: - All portfolios have maintained $1.00 NAV at all times in all of our money market funds; - All redemption requests were made without interruption in all of our money market funds; - Invesco Aim did not have to purchase any securities out of any money market fund; - Invesco Aim did not have to provide any form of capital support to any money market fund; and - No securities experienced downgrades below Tier 1 quality in any money market fund. Please be assured that your Board continues to oversee the AIM Funds with a strong sense of responsibility for your assets and your trust. I would be happy to hear your comments, questions, or concerns. My address for email is bruce@brucecrockett.com. Sincerely, /s/ BRUCE L. CROCKETT Bruce L. Crockett Independent Chair AIM Funds Board of Trustees 3 AIM TREASURER'S SERIES TRUST
- ------------------------------------------------------------------------------------------------------------------------------------ FUND DATA - ------------------------------------------------------------------------------------------------------------------------------------ INVESTOR CLASS DATA AS OF 8/31/09 - ------------------------------------------------------------------------------------------------------------------------------------ FUND YIELDS WEIGHTED AVERAGE MATURITY TOTAL NET ASSETS 7-DAY SEC YIELDS HAD FEES NOT BEEN WAIVED AND/OR RANGE DURING AT FISCAL 7-DAY EXPENSES NOT MONTHLY FISCAL YEAR SEC YIELDS BEEN REIMBURSED YIELDS YEAR END ---------- ------------------ ------- ------------ --------- Premier 0.24% 0.21% 0.25% 21 - 59 days 42 days $82.8 million Premier U.S. Government Money 0.16 0.13 0.18 17 - 58 days 37 days 31.3 million Premier Tax-Exempt 0.31 N/A 0.32 15 - 30 days 30 days 25.1 million Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Please visit invescoaim.com for the most recent month-end performance. Investment return will vary. Had the advisor not waived certain fees and/or reimbursed certain expenses for Premier and Premier U.S. Government Money, performance would have been lower. Monthly yields represent annualized results for the month, net of fees and expenses, and exclude any realized capital gains or losses. - ------------------------------------------------------------------------------------------------------------------------------------ FUND COMPOSITION BY MATURITY - -------------------------------------------------------------------------------- IN DAYS, AS OF 8/31/09 - -------------------------------------------------------------------------------- PREMIER PREMIER PREMIER U.S. GOVERNMENT TAX-EXEMPT PORTFOLIO(1, 2) MONEY PORTFOLIO(3) PORTFOLIO(4) --------------- ------------------ ------------ 1-7 15.6% 50.6% 84.9% 8-30 34.7 15.3 0.5 31-90 36.7 21.0 6.1 91-180 13.0 9.0 2.2 181+ -- 4.1 6.3 The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. (1) The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure. The risks of investing in foreign securities and securities which carry foreign credit exposure include decreased publicly available information about issuers, inconsistent accounting, auditing and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers, expropriation, nationalization or other adverse political or economic developments and the difficulty of enforcing obligations in other countries. Investments in foreign securities may also be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions. (2) Treasury securities are guaranteed as to timely payment of principal and interest if held to maturity. Many securities purchased by the Fund are not guaranteed by the U.S. government. (3) The Fund may invest in obligations issued by agencies and instrumentalities of the U.S. government that may vary in the level of support they receive from the U.S. government. The U.S. government may choose not to provide financial support to U.S. government-sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the fund holding securities of such issuer might not be able to recover its investment from the U.S. government. (4) The Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, and the Fund's performance will depend to a great extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industries can be sensitive to changes in government regulation and interest rates and to economic downturns in the U.S. and abroad. 4 AIM TREASURER'S SERIES TRUST
- ------------------------------------------------------------------------------------------------------------------------------------ FUND OBJECTIVES AND STRATEGIES PREMIER PORTFOLIO PREMIER TAX-EXEMPT PORTFOLIO Premier Portfolio seeks to provide a high level of current Premier Tax-Exempt Portfolio seeks to provide a high level of income, consistent with the preservation of capital and current income, consistent with the preservation of capital and maintenance of liquidity. maintenance of liquidity. The Fund invests in short-term money market instruments that The Fund invests in high quality, short-term municipal blend top-tier, high quality U.S. dollar-denominated obligations, seeking to provide income exempt from federal obligations, which include commercial paper, certificates of taxation. The Fund structure is driven to some extent by the deposit, master and promissory notes, municipal securities and supply and availability of municipal securities. Liquidity is repurchase agreements. managed with daily and weekly variable rate demand notes. The Fund continues to hold the highest credit quality rating (Aaa) given by Moody's, a widely known credit rating agency. Fund ratings are subject to change and are based on several factors, including an analysis of a fund's overall credit quality, market price exposure and management. PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Premier U.S. Government Money Portfolio seeks to provide a high level of current income, consistent with the preservation of capital and maintenance of liquidity. The Fund invests primarily in debt securities issued or guaranteed by the U.S. government or its agencies and securities such as repurchase agreements and variable rate or floating rate debt obligations. The Fund continues to hold the highest credit quality rating (Aaa) given by Moody's, a widely known credit rating agency. Fund ratings are subject to change and are based on several factors, including an analysis of a fund's overall credit quality, market price exposure and management. AN INVESTMENT IN THE FUND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY AND IS NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, A DEPOSITORY INSTITUTION. ALTHOUGH THE FUND SEEKS TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THE FUND. THIS REPORT MUST BE ACCOMPANIED OR PRECEDED BY A CURRENTLY EFFECTIVE FUND PROSPECTUS, WHICH CONTAINS MORE COMPLETE INFORMATION, INCLUDING FEES AND EXPENSES. READ IT CAREFULLY BEFORE YOU INVEST OR SEND MONEY. INVESCO AIM GLOBAL CASH MANAGEMENT IS A BRAND NAME ENCOMPASSING PRODUCTS AND SERVICES PROVIDED BY ONE OR MORE SUBSIDIARIES OF INVESCO LTD. 5 AIM TREASURER'S SERIES TRUST
SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- COMMERCIAL PAPER-70.56%(a) ASSET-BACKED SECURITIES-COMMERCIAL LOANS/LEASES-7.36% Amstel Funding Corp.(b)(c) 2.00% 10/09/09 $ 50,000 $ 49,894,445 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.30% 10/15/09 34,000 33,987,533 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.30% 10/28/09 50,000 49,976,250 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.40% 02/09/10 75,000 74,865,833 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.40% 02/16/10 40,000 39,925,333 - ----------------------------------------------------------------------------------------------------------- Edison Asset Securitization, LLC(b) 0.43% 12/30/09 50,000 49,928,334 =========================================================================================================== 298,577,728 =========================================================================================================== ASSET-BACKED SECURITIES-CONSUMER RECEIVABLES-8.09% Amsterdam Funding Corp.(b) 0.33% 09/04/09 50,000 49,998,625 - ----------------------------------------------------------------------------------------------------------- Amsterdam Funding Corp.(b) 0.30% 09/11/09 69,310 69,304,224 - ----------------------------------------------------------------------------------------------------------- Barton Capital LLC(b) 0.24% 09/08/09 90,000 89,995,800 - ----------------------------------------------------------------------------------------------------------- Park Avenue Receivables Co., LLC(b) 0.30% 10/19/09 50,000 49,980,000 - ----------------------------------------------------------------------------------------------------------- Sheffield Receivables Corp.(b) 0.21% 09/18/09 49,000 48,995,141 - ----------------------------------------------------------------------------------------------------------- Sheffield Receivables Corp.(b) 0.26% 10/16/09 20,000 19,993,500 =========================================================================================================== 328,267,290 =========================================================================================================== ASSET-BACKED SECURITIES-FULLY BACKED-3.20% Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.28% 09/18/09 30,000 29,996,033 - ----------------------------------------------------------------------------------------------------------- Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.36% 10/05/09 50,051 50,033,983 - ----------------------------------------------------------------------------------------------------------- Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.33% 10/19/09 50,000 49,978,000 =========================================================================================================== 130,008,016 =========================================================================================================== ASSET-BACKED SECURITIES-FULLY SUPPORTED BANK-15.29% Concord Minutemen Capital Co., LLC-Series A, (Multi CEP's-Liberty Hampshire Co., LLC; agent) 0.50% 10/27/09 105,000 104,918,333 - ----------------------------------------------------------------------------------------------------------- Crown Point Capital Co., LLC-Series A, (Multi CEP's-Liberty Hampshire Co., LLC; agent)(b) 0.60% 09/04/09 90,000 89,995,500 - ----------------------------------------------------------------------------------------------------------- Grampian Funding Ltd./LLC (CEP-Lloyds TSB Bank PLC)(b)(c) 0.45% 09/21/09 60,000 59,985,000 - ----------------------------------------------------------------------------------------------------------- Grampian Funding Ltd./LLC (CEP-Lloyds TSB Bank PLC)(b)(c) 0.43% 10/02/09 30,000 29,988,892 - ----------------------------------------------------------------------------------------------------------- Matchpoint Master Trust-Series A, (CEP-BNP Paribas)(b)(c) 0.24% 09/16/09 49,000 48,995,100 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.25% 09/10/09 25,000 24,998,438 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.25% 09/17/09 42,000 41,995,333 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.35% 10/16/09 55,900 55,875,544 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.33% 10/23/09 50,000 49,976,167 - ----------------------------------------------------------------------------------------------------------- Variable Funding Capital Co., LLC (CEP-Wells Fargo Bank, N.A.)(b) 0.28% 10/26/09 50,000 49,978,611 - ----------------------------------------------------------------------------------------------------------- Variable Funding Capital Co., LLC (CEP-Wells Fargo Bank, N.A.)(b) 0.25% 11/24/09 63,644 63,606,874 =========================================================================================================== 620,313,792 =========================================================================================================== ASSET-BACKED SECURITIES-MULTI-PURPOSE-9.61% Chariot Funding LLC/Ltd.(b) 0.28% 09/08/09 50,000 49,997,278 - ----------------------------------------------------------------------------------------------------------- Falcon Asset Securitization Corp.(b) 0.18% 09/02/09 31,003 31,002,845 - ----------------------------------------------------------------------------------------------------------- Gemini Securitization Corp., LLC(b) 0.23% 09/16/09 75,000 74,992,812 - ----------------------------------------------------------------------------------------------------------- Gemini Securitization Corp., LLC(b) 0.19% 09/17/09 50,000 49,995,778 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 6 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- ASSET-BACKED SECURITIES-MULTI-PURPOSE-(CONTINUED) Gemini Securitization Corp., LLC(b) 0.32% 10/05/09 $ 50,046 $ 50,030,875 - ----------------------------------------------------------------------------------------------------------- Mont Blanc Capital Corp.(b)(c) 0.25% 09/14/09 84,000 83,992,417 - ----------------------------------------------------------------------------------------------------------- Yorktown Capital LLC(b) 0.27% 10/09/09 50,000 49,985,750 =========================================================================================================== 389,997,755 =========================================================================================================== ASSET-BACKED SECURITIES-SECURITIES-9.10% Aspen Funding Corp.(b) 0.35% 10/13/09 50,051 50,030,562 - ----------------------------------------------------------------------------------------------------------- Aspen Funding Corp.(b) 0.35% 10/15/09 75,000 74,967,917 - ----------------------------------------------------------------------------------------------------------- Cancara Asset Securitisation Ltd./LLC(b)(c) 0.57% 10/13/09 75,000 74,950,125 - ----------------------------------------------------------------------------------------------------------- Cancara Asset Securitisation Ltd./LLC(b)(c) 0.37% 10/20/09 30,000 29,984,892 - ----------------------------------------------------------------------------------------------------------- Newport Funding Corp.(b) 0.26% 09/16/09 80,000 79,991,333 - ----------------------------------------------------------------------------------------------------------- Newport Funding Corp.(b) 0.36% 09/16/09 59,086 59,077,137 =========================================================================================================== 369,001,966 =========================================================================================================== DIVERSIFIED BANKS-13.77% Banco Bilbao Vizcaya Argentaria, S.A.(b)(c) 1.21% 10/14/09 124,000 123,820,786 - ----------------------------------------------------------------------------------------------------------- Banco Bilbao Vizcaya Argentaria, S.A.(b)(c) 0.43% 01/15/10 45,000 44,926,900 - ----------------------------------------------------------------------------------------------------------- Bank of America Corp. 0.21% 09/09/09 50,000 49,997,667 - ----------------------------------------------------------------------------------------------------------- Calyon North America Inc.(c) 1.50% 09/16/09 40,000 39,975,000 - ----------------------------------------------------------------------------------------------------------- ING (US) Funding LLC(b)(c) 0.22% 09/17/09 50,000 49,995,222 - ----------------------------------------------------------------------------------------------------------- Santander Central Hispano Finance (Delaware) Inc.(c) 0.51% 11/18/09 75,000 74,917,125 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.33% 09/16/09 75,000 74,989,687 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.34% 11/24/09 75,000 74,940,500 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.35% 01/25/10 25,000 24,965,021 =========================================================================================================== 558,527,908 =========================================================================================================== REGIONAL BANKS-4.14% Banque et Caisse d'Epargne de l'Etat(b)(c) 0.29% 12/09/09 25,000 24,980,063 - ----------------------------------------------------------------------------------------------------------- Commonwealth Bank of Australia (United Kingdom)(b)(c) 0.31% 12/01/09 50,000 50,001,263 - ----------------------------------------------------------------------------------------------------------- Westpac Banking Corp.(b)(c) 0.37% 02/12/10 43,000 42,927,521 - ----------------------------------------------------------------------------------------------------------- Westpac Banking Corp.(b)(c) 0.40% 02/17/10 50,000 49,906,111 =========================================================================================================== 167,814,958 =========================================================================================================== Total Commercial Paper (Cost $2,862,509,413) 2,862,509,413 =========================================================================================================== CERTIFICATES OF DEPOSIT-16.77% Banco Bilbao Vizcaya Argentaria, S.A. 1.23% 09/21/09 25,000 25,000,138 - ----------------------------------------------------------------------------------------------------------- BNP Paribas 1.23% 09/28/09 50,000 50,000,373 - ----------------------------------------------------------------------------------------------------------- Calyon 0.65% 02/01/10 50,000 50,010,543 - ----------------------------------------------------------------------------------------------------------- Lloyds TSB Bank PLC 0.26% 10/20/09 50,000 50,000,680 - ----------------------------------------------------------------------------------------------------------- Nordea Bank A.B. 0.21% 09/21/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Rabobank Nederland 0.95% 10/14/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Rabobank Nederland(d) 0.74% 03/12/10 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Royal Bank of Canada(d) 0.82% 12/16/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Royal Bank of Scotland PLC 0.32% 10/05/09 100,000 100,000,000 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 0.95% 09/30/09 75,000 75,000,601 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 7 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.00% 09/30/09 $ 30,000 $ 30,000,000 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.90% 10/02/09 25,000 25,000,212 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.40% 12/11/09 75,000 75,000,000 =========================================================================================================== Total Certificates of Deposit (Cost $680,012,547) 680,012,547 =========================================================================================================== MEDIUM-TERM NOTES-2.96% Barclays Bank PLC(c) 0.64% 09/21/09 20,000 20,002,221 - ----------------------------------------------------------------------------------------------------------- ING Bank N.V., Sr. Unsec. Floating Rate MTN(b)(c)(d) 0.92% 09/16/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Wells Fargo Bank, N.A., Sr. Unsec. Floating Rate MTN(d) 0.78% 09/08/09 50,000 50,000,000 =========================================================================================================== Total Medium-Term Notes (Cost $120,002,221) 120,002,221 =========================================================================================================== U.S. GOVERNMENT SPONSORED AGENCY SECURITIES-1.23% FEDERAL HOME LOAN BANK (FHLB)-1.23% Unsec. Floating Rate Bonds(d) (Cost $50,000,000) 0.30% 05/21/10 50,000 50,000,000 =========================================================================================================== VARIABLE RATE DEMAND NOTES-0.39%(e) LETTER OF CREDIT ENHANCED-0.39%(f) Atlanticare Health Services, Inc.; Series 2003, VRD Taxable Bonds (LOC-Well Fargo Bank, N.A.) (Cost $15,875,000) 0.40% 10/01/33 15,875 15,875,000 =========================================================================================================== TOTAL INVESTMENTS (excluding Repurchase Agreements)-91.91% (Cost $3,728,399,181) 3,728,399,181 =========================================================================================================== REPURCHASE AMOUNT REPURCHASE AGREEMENTS-8.05%(g) Banc of America Securities LLC, Joint agreement dated 08/31/09, aggregate maturing value $250,002,083 (collateralized by U.S. Government sponsored agency and Corporate obligations valued at $262,500,000; 0%-5.94%, 09/01/12-09/20/56) 0.30% 09/01/09 106,824,538 106,823,648 - ----------------------------------------------------------------------------------------------------------- BNP Paribas, Agreement dated 08/31/09, maturing value $100,000,917 (collateralized by a Corporate obligation valued at $105,000,000; 6.63%-10.50%, 07/15/11-12/15/11)(c) 0.33% 09/01/09 100,000,917 100,000,000 - ----------------------------------------------------------------------------------------------------------- HSBC Securities (USA) Inc., Joint agreement dated 08/31/09, aggregate maturing value $1,250,007,639 (collateralized by U.S. Government sponsored agency obligations valued at $1,275,000,040; 0%-10.70%, 10/09/09-07/15/32) 0.22% 09/01/09 119,937,844 119,937,111 =========================================================================================================== Total Repurchase Agreements (Cost $326,760,759) 326,760,759 =========================================================================================================== TOTAL INVESTMENTS-99.96% (Cost $4,055,159,940)(h)(i) 4,055,159,940 =========================================================================================================== OTHER ASSETS LESS LIABILITIES-0.04% 1,578,073 =========================================================================================================== NET ASSETS-100.00% $4,056,738,013 ___________________________________________________________________________________________________________ ===========================================================================================================
Investment Abbreviations: CEP - Credit Enhancement Provider LOC - Letter of Credit MTN - Medium-Term Notes Sr. - Senior Unsec. - Unsecured VRD - Variable Rate Demand
Notes to Schedule of Investments: (a) Security may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. (b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2009 was $2,467,806,080, which represented 60.83% of the Fund's Net Assets. (c) The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: United Kingdom: 10.8%; Netherlands: 10.7%; France: 9%; Spain: 6%; other countries less than 5% each: 2.9%. (d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 8 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO (e) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. (g) Principal amount equals value at period end. See Note 1J. (h) Also represents cost for federal income tax purposes. (i) This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations.
ENTITY PERCENTAGE --------------------------------------------------------------------------------------------- Toronto-Dominion Bank 5.1% _____________________________________________________________________________________________ =============================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 9 AIM TREASURER'S SERIES TRUST SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SPONSORED AGENCY SECURITIES-62.00% FEDERAL FARM CREDIT BANK (FFCB)-6.41% Disc. Notes(a) 0.50% 03/30/10 $ 10,000 $ 9,970,833 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 1.25% 11/12/09 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.32% 12/21/09 10,000 9,958,106 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.64% 12/21/09 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.17% 12/28/09 35,000 34,963,217 =========================================================================================================== 104,892,156 =========================================================================================================== FEDERAL HOME LOAN BANK (FHLB)-22.66% Unsec. Bonds 5.25% 09/11/09 17,600 17,622,560 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.45% 11/24/09 16,200 16,200,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.50% 02/08/10 15,000 14,996,652 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.31% 02/22/10 10,000 9,998,712 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.92% 04/09/10 10,000 10,024,703 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.55% 06/03/10 10,000 10,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.55% 06/10/10 25,000 24,977,208 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.64% 10/07/09 15,000 14,990,400 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.55% 10/09/09 5,000 4,997,097 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.35% 10/16/09 25,000 24,989,063 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.53% 12/07/09 10,000 9,985,719 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.31% 01/22/10 10,000 9,987,686 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.26% 02/12/10 20,000 19,976,311 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.48% 05/05/10 5,164 5,147,062 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.65% 09/10/09 17,050 17,052,052 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.44% 10/13/09 10,000 10,005,379 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.55% 11/18/09 10,000 10,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.50% 01/19/10 20,000 20,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.64% 02/04/10 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.78% 02/26/10 25,000 24,998,391 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Bonds(b) 0.18% 12/23/09 30,000 29,988,719 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Bonds(b) 0.18% 12/28/09 15,000 14,998,593 =========================================================================================================== 370,936,307 =========================================================================================================== FEDERAL HOME LOAN MORTGAGE CORP. (FHLMC)-17.65% Unsec. Disc. Notes(a) 0.41% 09/08/09 20,050 20,048,402 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.70% 09/14/09 5,000 4,998,736 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.70% 09/21/09 5,428 5,425,889 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.22% 10/01/09 25,000 24,995,313 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.25% 10/05/09 20,000 19,995,278 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.27% 10/13/09 20,000 19,993,700 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.25% 10/19/09 10,000 9,996,667 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.26% 10/20/09 27,112 27,102,405 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 10 AIM TREASURER'S SERIES TRUST PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- FEDERAL HOME LOAN MORTGAGE CORP. (FHLMC)-(CONTINUED) Unsec. Disc. Notes(a) 0.53% 11/09/09 $ 23,500 $ 23,476,128 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.28% 01/25/10 7,700 7,691,256 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.42% 02/08/10 10,000 9,981,333 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.43% 05/17/10 7,000 6,978,178 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.19% 09/28/09 11,000 10,999,479 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.20% 10/08/09 10,000 9,998,705 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.21% 10/19/09 10,000 9,999,902 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.17% 12/16/09 25,000 24,973,234 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate MTN(b) 0.32% 02/09/10 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Series M006, Class A, Taxable Multi-Family VRD Ctfs.(c) 1.60% 10/15/45 27,282 27,281,656 =========================================================================================================== 288,936,261 =========================================================================================================== FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)-15.10% Sr. Unsec. Global Notes 3.25% 02/10/10 9,100 9,213,782 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.40% 09/01/09 16,300 16,300,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 3.20% 10/07/09 5,000 4,984,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.35% 10/21/09 25,000 24,987,847 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.30% 11/16/09 16,854 16,843,326 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 1.00% 12/03/09 10,000 9,974,167 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.28% 02/03/10 5,000 4,993,864 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.40% 07/13/10 40,000 39,988,091 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.39% 10/07/09 35,000 34,999,650 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.45% 10/16/09 75,000 75,015,377 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.60% 10/27/09 10,000 10,000,000 =========================================================================================================== 247,300,104 =========================================================================================================== OVERSEAS PRIVATE INVESTMENT CORP.-0.18% Gtd. Bonds 0.23% 03/15/19 3,000 3,000,000 =========================================================================================================== Total U.S. Government Sponsored Agency Securities (Cost $1,015,064,828) 1,015,064,828 =========================================================================================================== U.S. TREASURY BILLS-3.36%(a) U.S. Treasury Bills 0.31% 11/05/09 5,000 4,997,201 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.30% 11/12/09 10,000 9,993,900 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.26% 12/03/09 25,000 24,983,531 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.30% 12/10/09 15,000 14,987,292 =========================================================================================================== Total U.S. Treasury Bills (Cost $54,961,924) 54,961,924 =========================================================================================================== TOTAL INVESTMENTS (excluding Repurchase Agreements)-65.36% (Cost $1,070,026,752) 1,070,026,752 =========================================================================================================== REPURCHASE AMOUNT REPURCHASE AGREEMENTS-34.60%(d) BNP Paribas Securities Corp., Term joint agreement dated 08/18/09, aggregate maturing value $300,172,500 (collateralized by U.S. Government sponsored agency obligations valued at $306,000,883; 0%-7.63%, 09/11/09- 06/15/38) 0.23% 11/16/09 50,028,750 50,000,000 - ----------------------------------------------------------------------------------------------------------- Credit Suisse Securities (USA) LLC, Term joint agreement dated 08/10/09, aggregate maturing value $500,088,889 (collateralized by U.S. Government sponsored agency obligations valued at $510,002,219; 0%-9.00%, 09/01/09- 06/14/10) 0.20% 09/11/09 50,008,889 50,000,000 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 11 AIM TREASURER'S SERIES TRUST PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
INTEREST MATURITY REPURCHASE RATE DATE AMOUNT VALUE - ----------------------------------------------------------------------------------------------------------- HSBC Securities (USA) Inc., Joint agreement dated 08/31/09, aggregate maturing value $1,250,007,639 (collateralized by U.S. Government sponsored agency obligations valued at $1,275,000,040; 0%-10.70%, 10/09/09-07/15/32) 0.22% 09/01/09 $191,347,383 $ 191,346,214 - ----------------------------------------------------------------------------------------------------------- RBC Capital Markets Corp., Joint agreement dated 08/31/09, aggregate maturing value $500,003,056 (collateralized by U.S. Government sponsored agency obligations valued at $510,000,167; 0%-8.95%, 09/01/09- 04/15/42) 0.22% 09/01/09 150,000,917 150,000,000 - ----------------------------------------------------------------------------------------------------------- RBS Securities Inc., Term joint agreement dated 08/14/09, aggregate maturing value $250,046,180 (collateralized by U.S. Government sponsored agency obligations valued at $255,002,678; 0%-9.38%, 10/15/09- 04/15/30) 0.19% 09/18/09 50,009,236 50,000,000 - ----------------------------------------------------------------------------------------------------------- Societe Generale, Term joint agreement dated 08/13/09, aggregate maturing value $500,088,889 (collateralized by U.S. Government sponsored agency obligations valued at $510,000,926; 0%-5.75%, 09/11/09- 06/12/15) 0.20% 09/14/09 75,013,333 75,000,000 =========================================================================================================== Total Repurchase Agreements (Cost $566,346,214) 566,346,214 =========================================================================================================== TOTAL INVESTMENTS-99.96% (Cost $1,636,372,966)(e) 1,636,372,966 =========================================================================================================== OTHER ASSETS LESS LIABILITIES-0.04% 638,160 =========================================================================================================== NET ASSETS-100.00% $1,637,011,126 ___________________________________________________________________________________________________________ ===========================================================================================================
Investment Abbreviations: Ctfs. - Certificates Disc. - Discounted MTN - Medium-Term Notes Sr. - Senior Unsec. - Unsecured VRD - Variable Rate Demand
Notes to Schedule of Investments: (a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. (b) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (c) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (d) Principal amount equals value at period end. See Note 1J. (e) Also represents cost for federal income tax purposes. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 12 AIM TREASURER'S SERIES TRUST SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ MUNICIPAL OBLIGATIONS-102.08% ALABAMA-2.34% Gardendale (City of) (Forest Ridge Apartments); Series 2002 B, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.48% 10/01/32 $ 3,783 $ 3,783,000 - ------------------------------------------------------------------------------------------------------ Geneva (County of) Industrial Development Board (Brooks AG Co., Inc.); Series 2002, VRD RB (CEP-Federal Home Loan Bank of Atlanta)(a)(b) 0.69% 03/01/14 1,820 1,820,000 - ------------------------------------------------------------------------------------------------------ Oxford (City of); Series 2003, Unlimited Tax VRD GO Wts. (LOC-Branch Banking & Trust Co.)(a)(c) 0.54% 07/01/15 3,120 3,120,000 ====================================================================================================== 8,723,000 ====================================================================================================== ALASKA-0.20% Alaska (State of) Industrial Development & Export Authority (Providence Health System); Series 2003 C, RB 5.00% 10/01/09 750 752,311 ====================================================================================================== ARIZONA-3.96% Apache (County of) Industrial Development Authority (Tucson Electric Power Company- Springerville); Series 1983 B, VRD IDR (LOC-Bank of Newyork Mellon)(a)(c) 0.40% 12/15/18 8,900 8,900,000 - ------------------------------------------------------------------------------------------------------ Glendale (City of); Series 2000, Limited Tax GO(d)(e) 5.38% 07/01/10 500 519,728 - ------------------------------------------------------------------------------------------------------ Phoenix (City of) Industrial Development Authority (Lynwood Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Bank of San Francisco)(a) 0.34% 10/01/25 5,305 5,305,000 ====================================================================================================== 14,724,728 ====================================================================================================== COLORADO-9.21% Colorado (State of) Health Facilities Authority (Arapahoe House); Series 2004 A, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.46% 04/01/24 1,200 1,200,000 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Health Facilities Authority (Catholic Health Initiatives); Series 2008 C- 4, RB(b) 3.75% 11/10/09 900 903,831 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Health Facilities Authority (Crossroads); Series 2003 A, VRD RB (LOC-U.S. Bank, N.A.)(a)(c) 0.37% 11/01/28 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Housing and Finance Authority (Genesis Innovations, LLC and Saddlenotch, LLC); Series 2001, Economic Development VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 1.42% 09/01/21 175 175,000 - ------------------------------------------------------------------------------------------------------ EagleBend Affordable Housing Corp.; Series 2006 A, Ref. VRD MFH RB (LOC-U.S. Bank, N.A.)(a)(c) 0.39% 07/01/21 4,880 4,880,000 - ------------------------------------------------------------------------------------------------------ Southglenn Metropolitan District; Series 2007, VRD Special RB (LOC-BNP Paribas)(a)(c)(f) 0.39% 12/01/30 24,625 24,625,000 ====================================================================================================== 34,283,831 ====================================================================================================== DELAWARE-0.94% Kent (County of) (The Charter School, Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/22 3,495 3,495,000 ====================================================================================================== FLORIDA-2.87% Boca Raton (City of); Series 2009, Ref. Water and Sewer RB 4.00% 10/01/09 305 305,805 - ------------------------------------------------------------------------------------------------------ Jacksonville (City of) (Edward Waters College, Inc.); Series 2001, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/21 1,340 1,340,000 - ------------------------------------------------------------------------------------------------------ Palm Beach (County of) Health Facilities Authority (Jupiter Medical Center, Inc.); Series 1999 B, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 08/01/20 2,295 2,295,000 - ------------------------------------------------------------------------------------------------------ Palm Beach (County of), Housing Finance Authority (Azalea Place Apartments); Series 1999 A, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b)(g) 0.43% 12/01/32 3,000 3,000,000 - ------------------------------------------------------------------------------------------------------ Pinellas (County of) Health Facilities Authority (Mease Manor, Inc.); Series 1995, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/15 3,760 3,760,000 ====================================================================================================== 10,700,805 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 13 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ GEORGIA-4.94% Atlanta (City of) Housing Authority (Villages of East Lake Phase II); Series 1999, VRD MFH RB (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.55% 01/01/29 $ 1,400 $ 1,400,000 - ------------------------------------------------------------------------------------------------------ DeKalb (County of) Development Authority (Atlanta Jewish Federation, Inc.); Series 1996, VRD RB (LOC-Wells Fargo, N.A.)(a)(c) 0.48% 08/01/21 1,005 1,005,000 - ------------------------------------------------------------------------------------------------------ DeKalb (County of) Development Authority (Catholic School Properties, Inc.); Series 1999, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 04/01/24 2,575 2,575,000 - ------------------------------------------------------------------------------------------------------ Fayette (County of) Development Authority (Gardner Denver Machinery Inc.); Series 1998, VRD IDR (LOC-PNC Bank, N.A.)(a)(b)(c)(g) 0.51% 03/01/18 2,000 2,000,000 - ------------------------------------------------------------------------------------------------------ Fulton (County of) Development Authority (Friends of High Meadows, Inc.); Series 2000, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 01/01/20 2,325 2,325,000 - ------------------------------------------------------------------------------------------------------ Fulton (County of) Development Authority (Southside Medical Center, Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 06/01/17 4,225 4,225,000 - ------------------------------------------------------------------------------------------------------ Marietta (City of) Housing Authority (Wood Knoll Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.34% 07/01/24 1,200 1,200,000 - ------------------------------------------------------------------------------------------------------ Smyrna (City of) Hospital Authority (Ridgeview Institute Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/27 1,660 1,660,000 - ------------------------------------------------------------------------------------------------------ Tallapoosa (City of) Development Authority (United States Can Co.); Series 1994, Ref. VRD IDR (LOC-Deutsche Bank A.G.)(a)(c)(f) 0.82% 02/01/15 2,000 2,000,000 ====================================================================================================== 18,390,000 ====================================================================================================== IDAHO-0.54% Custer (County of) (Standard Oil Co.); Series 1983, VRD PCR(f) 0.75% 10/01/09 2,000 2,000,000 ====================================================================================================== ILLINOIS-9.75% Arcola (City of) (Herff Jones, Inc.) Series 1994, VRD IDR (LOC-PNC Bank, N.A.)(a)(b)(c)(g) 0.75% 06/01/19 3,500 3,500,000 - ------------------------------------------------------------------------------------------------------ Aurora (City of), Kane, Dupage, Will & Kendall (Counties of) (Diamond Envelope Corp.); Series 2007, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 12/01/21 5,000 5,000,000 - ------------------------------------------------------------------------------------------------------ Chicago (City of) (Churchview Supportive Living Facility); Series 2003, VRD MFH RB (LOC-Harris N.A.)(a)(b)(c)(g) 0.78% 03/01/33 2,900 2,900,000 - ------------------------------------------------------------------------------------------------------ East Dundee (Village of) (Kreis Tool & Manufacturing Co., Inc.); Series 1997, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 1.42% 06/01/27 1,210 1,210,000 - ------------------------------------------------------------------------------------------------------ Fox Valley Park District; Series 2009, Unlimited Tax GO 2.50% 12/15/09 700 702,503 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Adventist Health System/Sunbelt Obligated Group); Series 1999, Hospital RB(d)(e) 5.50% 11/15/09 900 918,141 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Cloverhill Pastry Vend Corp.); Series 1993, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 2.12% 12/01/13 1,690 1,690,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Little City Foundation); Series 1994, VRD Special Facility RB (LOC-Bank of America, N.A.)(a)(c) 0.46% 02/01/19 4,290 4,290,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (The Teachers Academy for Mathematics & Science); Series 2001, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 02/01/21 2,080 2,080,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Educational Facilities Authority (The Lincoln Park Society); Series 1999, VRD RB (LOC-Citibank N.A.)(a)(c) 0.35% 01/01/29 2,200 2,200,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Advocate Health Care Network); Series 2008 A-2, VRD RB 0.75% 11/01/30 750 750,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Andre's Imaging and Graphics, Inc.); Series 2007, Ref. VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.60% 07/01/27 250 250,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Jewish Charities Revenue Anticipation Note Program) Series 2009-2010 B, RN (LOC-Harris N.A.)(a)(c)(g) 0.36% 06/30/10 7,185 7,185,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Metform, LLC); Series 2004, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 1.44% 05/01/14 250 250,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Housing Development Authority (Danbury Court Apartments); Series 2004 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b)(c) 0.60% 12/01/39 990 990,000 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 14 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ ILLINOIS-(CONTINUED) Metropolitan Pier and Exposition Authority; Series 1999 A, Ref. RB(d)(e) 5.75% 12/15/09 $ 600 $ 614,911 - ------------------------------------------------------------------------------------------------------ Romeoville (Village of) (Metropolitan Industries, Inc.); Series 1997, VRD IDR (LOC-Harris N.A.)(a)(b)(c) 0.78% 04/01/22 1,750 1,750,000 ====================================================================================================== 36,280,555 ====================================================================================================== INDIANA-10.43% Burns Harbor (Town of) (Dennen Steel Corp.); Series 2003, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(b)(c) 2.50% 12/01/23 1,225 1,225,000 - ------------------------------------------------------------------------------------------------------ Columbus (City of) (Arbors at Waters Edge Apartments); Series 2004, VRD Economic Development RB (CEP-Federal Home Loan Bank of Cincinnati)(a)(b) 0.42% 11/01/36 2,645 2,645,000 - ------------------------------------------------------------------------------------------------------ Franklin (County of) (Sisters of St. Francis of Oldenburg, Inc.); Series 1998, VRD Economic Development RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 12/01/18 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ Huntington (City of) (Huntington University, Inc.); Series 2007, Ref. VRD Economic Development Revenue and Improvement Bonds (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/37 6,800 6,800,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Development Finance Authority (Youth Opportunity Center, Inc.); Series 1998, VRD Educational Facilities RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 01/01/24 4,300 4,300,000 - ------------------------------------------------------------------------------------------------------ Series 1999, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 01/01/29 1,300 1,300,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facilities Financing Authority (Charity Obligated Group); Series 1999 D, Hospital RB(d)(e) 5.25% 11/15/09 4,000 4,079,438 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facility Financing Authority (Capital Access Designated Pool); Series 2000, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.43% 01/01/20 600 600,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facility Financing Authority (Stone Belt Arc, Inc.); Series 2005, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 02/01/25 2,295 2,295,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Housing Finance Authority (Pedcor Investments-Cumberland Crossing Apartments Development); Series 1997 M-B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.74% 01/01/29 723 723,000 - ------------------------------------------------------------------------------------------------------ Indiana University (Trustees of); Series 2008 A, Indiana University Consolidated RB 5.00% 06/01/10 975 1,007,242 - ------------------------------------------------------------------------------------------------------ Knox (City of) (J.W. Hicks, Inc.); Series 2005 A, VRD Economic Development RB (LOC-Harris N.A.)(a)(b)(c) 0.78% 03/01/22 1,840 1,840,000 - ------------------------------------------------------------------------------------------------------ Kokomo (City of) (Village Community Partners IV, L.P.); Series 1995, VRD Economic Development RB (LOC-Federal Home Loan Bank of Indianapolis)(a)(b)(c) 0.64% 06/01/30 1,140 1,140,000 - ------------------------------------------------------------------------------------------------------ La Porte (City of) (Alpha Baking Co., Inc.); Series 2001, Ref. VRD Economic Development RB (LOC-Harris N.A.)(a)(b)(c) 0.78% 11/01/18 2,130 2,130,000 - ------------------------------------------------------------------------------------------------------ Noblesville (City of) (Princeton Lakes Apartments); Series 2003 A, VRD Economic Development RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 06/01/38 5,669 5,669,000 - ------------------------------------------------------------------------------------------------------ Series 2003 B, VRD Economic Development RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.60% 06/01/38 1,072 1,072,000 - ------------------------------------------------------------------------------------------------------ Portage (City of) (Pedcor Investments-Port Crossing III Apartments); Series 1995 B, VRD Economic Development RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.75% 08/01/30 602 602,000 ====================================================================================================== 38,827,680 ====================================================================================================== IOWA-0.16% Sac (County of) (EVAPCO, Inc.); Series 2000, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 07/01/16 600 600,000 ====================================================================================================== KANSAS-2.44% Kansas (State of) Development Finance Authority (Oak Ridge Park Phase I Apartments) Series 2009 D, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b) 0.40% 04/01/44 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Shawnee (City of) (Shawnee Village Associates); Series 1984, IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.63% 12/01/09 5,390 5,390,000 - ------------------------------------------------------------------------------------------------------ Shawnee (City of) (Simmons Co.); Series 1996, Private Activity VRD RB (LOC-Deutsche Bank A.G.)(b)(c)(f)(g) 0.58% 12/01/16 1,190 1,190,000 ====================================================================================================== 9,080,000 ====================================================================================================== KENTUCKY-0.03% Kentucky (State of) Rural Economic Development Authority (P.B. & S. Chemical Co., Inc.); Series 1990, VRD RB (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.91% 09/01/10 100 100,000 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 15 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ MAINE-0.23% Gorham (Town of) (Pettingill Group, LLC) Series 2004, VRD RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.65% 04/01/24 $ 875 $ 875,000 ====================================================================================================== MARYLAND-1.17% Baltimore (County of) (Metropolitan District); Series 2008, Commercial Paper BAN 0.35% 10/07/09 2,400 2,400,000 - ------------------------------------------------------------------------------------------------------ Baltimore (County of) (Republic Services, Inc.); Series 2000, Economic Development VRD RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.55% 09/01/20 1,180 1,180,000 - ------------------------------------------------------------------------------------------------------ Maryland (State of) Health & Higher Educational Facilities Authority (North Arundel Hospital Association, Inc.) Series 2000, RB(d)(e) 6.50% 07/01/10 500 529,346 - ------------------------------------------------------------------------------------------------------ Maryland (State of) Health & Higher Educational Facilities Authority (University of Maryland Medical System Corp.); Series 2000, RB(d)(e) 6.75% 07/01/10 250 264,997 ====================================================================================================== 4,374,343 ====================================================================================================== MASSACHUSETTS-1.64% Massachusetts (State of) Development Finance Agency (Hi-Tech Mold & Tool, Inc.); Series 1998, VRD IDR (LOC-TD Bank, N.A.)(a)(b)(c) 0.57% 06/01/18 1,100 1,100,000 - ------------------------------------------------------------------------------------------------------ Massachusetts (State of) Development Finance Agency (MassDevelopment CP Program 5); Series 2007, Commercial Paper RN (LOC-TD Bank, N.A.)(c) 0.40% 10/06/09 5,000 5,000,000 ====================================================================================================== 6,100,000 ====================================================================================================== MICHIGAN-2.69% Michigan (State of) Housing Development Authority (Berrien Woods III Apartments); Series 2000 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.75% 07/01/32 250 250,000 - ------------------------------------------------------------------------------------------------------ Michigan (State of) Strategic Fund (Camac, LLC); Series 1998, VRD Limited Obligation RB (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 1.42% 08/01/28 200 200,000 - ------------------------------------------------------------------------------------------------------ West Bloomfield School District; Series 2000, Unlimited Tax School Building and Sites GO(d)(e) 5.70% 05/01/10 650 671,441 - ------------------------------------------------------------------------------------------------------ West Shore Medical Center; Series 2001, VRD Health Facilities RB (LOC-PNC Bank, N.A.)(a)(c) 0.67% 04/01/22 8,890 8,890,000 ====================================================================================================== 10,011,441 ====================================================================================================== MINNESOTA-1.73% Minnesota (State of) Independent School District No. 14 (Fridley); Series 2009 B, Unlimited Tax Aid Anticipation Ctfs. of Indebtedness GO 1.25% 09/30/10 1,000 1,006,720 - ------------------------------------------------------------------------------------------------------ Minnesota (State of) Independent School District No. 316 (The Greenway Schools); Series 2009 A, Unlimited Tax Aid Anticipation Ctfs. of Indebtedness GO 1.50% 09/10/10 1,450 1,462,963 - ------------------------------------------------------------------------------------------------------ Minnesota (State of) Tax & Aid Anticipation Borrowing Program (Minnesota School District Credit Enhancement Program); Series 2009, COP 2.00% 09/10/10 1,250 1,268,836 - ------------------------------------------------------------------------------------------------------ Winona (City of) Port Authority (Bay State Milling Co.); Series 2001A, Ref. VRD IDR (LOC-Harris N.A.)(a)(b)(c) 0.78% 06/01/11 2,700 2,700,000 ====================================================================================================== 6,438,519 ====================================================================================================== MISSISSIPPI-0.40% Jackson (County of); Series 1994, Ref. Unlimited Tax VRD Water System GO (CEP-Chevron Corp.)(a) 0.46% 11/01/24 1,500 1,500,000 ====================================================================================================== MISSOURI-3.05% Kansas (City of) Industrial Development Authority (Crooked Creek Apartments Phase II); Series 2004 A, VRD MFH RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 09/01/39 1,995 1,995,000 - ------------------------------------------------------------------------------------------------------ Springfield (City of) Industrial Development Authority (Pebblecreek Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Bank of Des Moines)(a) 0.50% 12/01/19 3,520 3,520,000 - ------------------------------------------------------------------------------------------------------ St. Louis (County of) Industrial Development Authority (Schnuck Markets, Inc. Kirkwood); Series 1985, VRD IDR (LOC-U.S. Bank, N.A.)(a)(c)(g) 0.39% 12/01/15 3,950 3,950,000 - ------------------------------------------------------------------------------------------------------ Wright City (City of) (Watlow Process Systems); Series 2002, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.58% 04/01/32 1,900 1,900,000 ====================================================================================================== 11,365,000 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 16 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ NEVADA-0.37% Henderson (City of) (Catholic Healthcare West); Series 1999 A, Health Facility RB(d)(e) 6.75% 07/01/10 $ 440 $ 466,394 - ------------------------------------------------------------------------------------------------------ Nevada (State of) Housing Division (Golden Apartments); Series 2007, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b) 0.80% 10/01/37 900 900,000 ====================================================================================================== 1,366,394 ====================================================================================================== NEW HAMPSHIRE-2.55% New Hampshire (State of) Business Finance Authority (Alice Peck Day Health Systems Obligated Group); Series 2007 A, VRD RB (LOC-TD Bank, N.A.)(a)(c) 0.33% 10/01/36 3,350 3,350,000 - ------------------------------------------------------------------------------------------------------ New Hampshire (State of) Business Finance Authority (Foundation for Seacoast Health); Series 1998 A, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.48% 06/01/28 4,250 4,250,000 - ------------------------------------------------------------------------------------------------------ New Hampshire (State of) Business Finance Authority (Keeney Manufacturing Co., Inc.); Series 1999, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.62% 11/01/19 1,880 1,880,000 ====================================================================================================== 9,480,000 ====================================================================================================== NEW JERSEY-0.66% Cape May (County of); Unlimited Tax GO 4.00% 07/15/10 800 824,221 - ------------------------------------------------------------------------------------------------------ New Jersey (State of) Economic Development Authority (Institute of Electrical and Electronics Engineers, Inc.); Series 2001 B, VRD Economic Development RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.43% 04/01/14 1,650 1,650,000 ====================================================================================================== 2,474,221 ====================================================================================================== NEW MEXICO-0.11% Albuquerque (City of) (CVI Laser Corp.); Series 1998, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.60% 06/01/18 400 400,000 ====================================================================================================== NORTH CAROLINA-4.88% Cabaruss (County of) Industrial Facilities and Pollution Control Financing Authority (Cannon Memorial YMCA); Series 2002, VRD Recreational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 08/01/23 1,680 1,680,000 - ------------------------------------------------------------------------------------------------------ Mecklenburg (County of) Industrial Facilities and Pollution Control Financing Authority (Southern Steel Co., LLC); Series 2002, VRD IDR (LOC-Wells Fargo Bank, N.A.)(a)(b)(c) 0.58% 03/02/15 2,850 2,850,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Capital Facilities Finance Agency (Montessori School of Raleigh, Inc.); Series 2003, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/17 1,495 1,495,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Educational Facilities Finance Agency (Gardner-Webb University); Series 1999, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 07/01/19 2,005 2,005,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Housing Finance Agency (Appalachian Student Housing Corp.); Series 2000 A-1, VRD Student Housing RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.50% 07/01/31 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Housing Finance Agency (The Masonic Home for Children at Oxford); Series 2002, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.48% 08/01/23 1,825 1,825,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (Carolina Village, Inc.); Series 1998, VRD Health Care Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/18 1,805 1,805,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (Depaul Community Facilities, Inc.); Series 1999, First Mortgage Health Care Facilities RB(d)(e) 7.63% 11/01/09 2,000 2,055,077 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (The McDowell Hospital, Inc.); Series 1999, Ref. VRD Hospital RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 05/15/16 1,255 1,255,000 - ------------------------------------------------------------------------------------------------------ Winston-Salem (City of) (Northeast Winston Ventures LP); Series 1997 A, VRD MFH RB (LOC-Wells Fargo Bank, N.A.)(a)(b)(c) 0.60% 11/01/27 1,790 1,790,000 ====================================================================================================== 18,160,077 ====================================================================================================== NORTH DAKOTA-0.71% Fargo (City of) (Case Oil Co.); Series 1984, VRD Commercial Development RB (LOC-U.S. Bank N.A.)(a)(c) 0.47% 12/01/14 2,655 2,655,000 ====================================================================================================== OHIO-4.50% Cleveland (City of) Municipal School District; Series 2008, Unlimited Tax School Improvement BAN 2.50% 09/30/09 2,000 2,002,131 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 17 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ OHIO-(CONTINUED) Cuyahoga (County of) (Judson Retirement Community); Series 2000, Ref. VRD Health Care Facilities RB (LOC-PNC Bank, N.A.)(a)(c) 0.63% 11/15/19 $ 370 $ 370,000 - ------------------------------------------------------------------------------------------------------ Dublin (City of) City School District; Series 2009, Unlimited Tax School Construction BAN 2.00% 10/15/09 750 751,217 - ------------------------------------------------------------------------------------------------------ Franklin (County of) (Golf Pointe Apartments); Series 2000 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b)(g) 0.75% 01/01/34 370 370,000 - ------------------------------------------------------------------------------------------------------ Lake (County of) (Lake Hospital System, Inc.); Series 2002, VRD Hospital Facilities RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.47% 12/01/32 8,000 8,000,000 - ------------------------------------------------------------------------------------------------------ Ohio (State of) (Buckeye Savers Bond); Series L, Highway Capital Improvement Unlimited Tax GO 3.50% 05/01/10 150 152,777 - ------------------------------------------------------------------------------------------------------ Ohio (State of); Series 1999 A, Common Schools Capital Facilities Unlimited Tax GO(d)(e) 5.75% 02/01/10 500 515,742 - ------------------------------------------------------------------------------------------------------ Series 2001 A, Common Schools Capital Facilities Unlimited Tax GO(d)(e) 4.75% 06/15/10 1,550 1,601,011 - ------------------------------------------------------------------------------------------------------ Series 2001 F, Highway Capital Improvement Unlimited Tax GO 4.13% 05/01/10 500 511,137 - ------------------------------------------------------------------------------------------------------ Series 2001 II A, Higher Education Capital Facilities RB 5.50% 12/01/09 940 951,482 - ------------------------------------------------------------------------------------------------------ Vandalia-Butler City School District; Series 2009 A, Unlimited Tax School Improvement BAN GO 1.50% 03/01/10 1,500 1,505,542 ====================================================================================================== 16,731,039 ====================================================================================================== OKLAHOMA-1.29% Oklahoma (County of) Finance Authority (Oxford Oaks, Watersedge & Gardens at Reding Apartments); Series 2000, Ref. VRD MFH RB (CEP-Federal National Mortgage Association)(a) 0.30% 07/15/30 4,000 4,000,000 - ------------------------------------------------------------------------------------------------------ Oklahoma (State of) Development Finance Authority (Capitol Dome); Series 2001, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.49% 06/01/11 800 800,000 ====================================================================================================== 4,800,000 ====================================================================================================== OREGON-0.91% Marion (County of) Housing Authority (Residence at Marion Estates); Series 1997, VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.62% 07/01/27 2,110 2,110,000 - ------------------------------------------------------------------------------------------------------ Portland (City of) (Central City Streetcar Project); Series 2009 A, Limited Tax Ref. RB 1.00% 04/01/10 1,260 1,262,913 ====================================================================================================== 3,372,913 ====================================================================================================== PENNSYLVANIA-3.34% Chester (County of) Health and Education Facilities Authority (Simpson Meadows); Series 2000, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/30 2,545 2,545,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Greene Towne School, Inc.); Series 2000 I-1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 12/01/25 700 700,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Laurel Highlands Foundation, Inc.); Series 2007 C-1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/22 425 425,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Mainstay Life Services); Series 2001 B, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 04/01/18 400 400,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Moshannon Valley Economic Development Partnership, Inc.); Series 2003 A1, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 04/01/17 525 525,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Pennsylvania Treasury Department Hospital Enhancement Loan Program- Indiana Regional Medical Center); Series 2006 A2, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.44% 06/01/11 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Philadelphia Area Independent School Business Officers Association Financing Program-Plymouth Meeting Friends School) Series 2001 C-2, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/26 300 300,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Philadelphia Area Independent School Business Officers Association Financing Program-The Crefeld School); Series 2001 E-2, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 12/01/26 575 575,000 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 18 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ PENNSYLVANIA-(CONTINUED) Pennsylvania (State of) Economic Development Financing Authority (PMF Industries, Inc.); Series 2006 C-2, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 12/01/26 $ 625 $ 625,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (The Herr Group); Series 2000 H7, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 12/01/21 600 600,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development financing Authority (The Kingsley Association); Series 2006 B1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/26 375 375,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Topwater Investments Inc.); Series 2007 B-1, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.49% 08/01/35 660 660,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Higher Educational Facilities Authority (Association of Independent Colleges & Universities of Pennsylvania Financing Program-Mount Aloysius College); Series 1998 C3, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.44% 11/01/18 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Philadelphia (City of) Authority for Industrial Development (1100 Walnut Associates); VRD Commercial Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.45% 12/01/14 2,200 2,200,000 - ------------------------------------------------------------------------------------------------------ Philadelphia (City of) Redevelopment Authority (The Presbyterian Home at 58th Street); Series 1998, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 07/01/28 495 495,000 ====================================================================================================== 12,425,000 ====================================================================================================== RHODE ISLAND-0.41% Rhode Island (State of) & Providence Plantations; Series 2009, Unlimited GO TAN 2.50% 06/30/10 1,500 1,524,499 ====================================================================================================== SOUTH CAROLINA-3.23% Charleston (County of); Series 2009 B, Ref. Unlimited Tax GO 2.00% 08/01/10 1,500 1,517,741 - ------------------------------------------------------------------------------------------------------ Greenville (County of) School District; Series 2009 C, Unlimited Tax GO 2.00% 06/01/10 2,000 2,022,240 - ------------------------------------------------------------------------------------------------------ South Carolina (State of) Jobs-Economic Development Authority (Family YMCA of Greater Florence); Series 2000, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 06/01/15 1,500 1,500,000 - ------------------------------------------------------------------------------------------------------ Spartanburg (County of) School District No. 2; Series 2009, Unlimited Tax GO 3.00% 04/01/10 1,490 1,511,987 - ------------------------------------------------------------------------------------------------------ Union (City of) Hospital District; Series 2000, VRD Healthcare RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 09/01/20 5,460 5,460,000 ====================================================================================================== 12,011,968 ====================================================================================================== TENNESSEE-0.53% Jackson (City of) Health, Education and Housing Facility Board (Union University); Series 2000, VRD RB (CEP-Federal Home Loan Bank)(a) 0.75% 04/01/15 1,335 1,335,000 - ------------------------------------------------------------------------------------------------------ Nashville (City of) & Davidson (County of) Metropolitan Government Industrial Development Board (L & S, LLC); Series 2001, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 0.55% 03/01/26 650 650,000 ====================================================================================================== 1,985,000 ====================================================================================================== TEXAS-7.33% Arlington (City of); Series 2005 A, Unlimited Tax GO Commercial Paper Notes 0.40% 10/02/09 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Crawford (City of) Education Facilities Corp. (Central Houston Parking LLC-University Parking System); Series 2004 A, Ref. VRD RB (LOC-BNP Paribas)(a)(c)(f) 1.10% 05/01/35 5,000 5,000,000 - ------------------------------------------------------------------------------------------------------ Fort Bend (County of); Series 2009, Ref. Limited Tax GO Bonds 4.00% 03/01/10 205 208,152 - ------------------------------------------------------------------------------------------------------ Garland (City of); Series 2008, GO Commercial Paper Notes 0.40% 09/03/09 2,000 2,000,000 - ------------------------------------------------------------------------------------------------------ Hockley (County of) Industrial Development Corp. (Amoco Corp.); Series 1983, VRD PCR(a)(f) 0.75% 09/01/09 1,750 1,750,000 - ------------------------------------------------------------------------------------------------------ Series 1985, VRD PCR(a)(f) 0.72% 11/01/19 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ Houston (City of) Higher Education Finance Corp. (Tierwester Oaks & Richfield Manor); Series 2003 A, Housing VRD RB (LOC-Bank of New York Mellon)(a)(c) 1.20% 03/01/33 4,800 4,800,000 - ------------------------------------------------------------------------------------------------------ Houston (City of); Series 2009 A, Public Improvement Ref. Limited Tax GO 2.00% 03/01/10 1,700 1,711,322 - ------------------------------------------------------------------------------------------------------ JPMorgan PUTTERs (Houston Community College System); Series 2009-3356, VRD Limited Tax GO(a)(g)(h) 0.54% 02/15/12 3,505 3,505,000 - ------------------------------------------------------------------------------------------------------ Killeen (City of) Texas; Series 2009, Ref. Limited Tax GO 1.25% 08/01/10 1,130 1,136,870 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 19 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ TEXAS-(CONTINUED) San Angelo (City of); Series 2009, Combination Tax & Limited Surplus GO RB 2.00% 02/15/10 $ 770 $ 773,987 - ------------------------------------------------------------------------------------------------------ San Antonio (City of); Series 2008 A, Ref. Electric and Gas Systems RB 5.50% 02/01/10 550 560,226 - ------------------------------------------------------------------------------------------------------ Travis (County of); Series 2008, Limited Tax GO Ctfs. 3.25% 03/01/10 900 911,157 - ------------------------------------------------------------------------------------------------------ Tyler (City of) Independent School District; Series 2005 A, Ref. Unlimited Tax GO (CEP-Texas Permanent School Fund) 3.50% 02/15/10 1,000 1,012,192 ====================================================================================================== 27,268,906 ====================================================================================================== UTAH-0.84% Utah (State of) Housing Corp. (Timbergate Apartments); Series 2009 A, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.39% 04/01/42 3,125 3,125,000 ====================================================================================================== VERMONT-4.42% Vermont (State of) Economic Development Authority (Wake Robin Corp.); Series 2006 B, VRD Mortgage RB (LOC-Banco Santander, S.A.)(a)(c)(f) 0.32% 05/01/29 16,455 16,455,000 ====================================================================================================== VIRGINIA-0.53% Fairfax (County of) Industrial Development Authority (Inova Health System Foundation); Series 2009 A, Health Care RB 3.00% 05/15/10 470 477,711 - ------------------------------------------------------------------------------------------------------ Norfolk (City of) Redevelopment and Housing Authority (Meredith Realty Ghent Properties, LLC); Series 2000, Ref. VRD MFH RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 01/01/21 1,490 1,490,000 ====================================================================================================== 1,967,711 ====================================================================================================== WASHINGTON-4.82% Lake Tapps Parkway Properties; Series 1999 A, VRD Special RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.48% 12/01/19 12,000 12,000,000 - ------------------------------------------------------------------------------------------------------ Series 1999 B, VRD Special RB (LOC-U.S. Bank, N.A.)(a)(c) 0.48% 12/01/19 4,700 4,700,000 - ------------------------------------------------------------------------------------------------------ Olympia (Port of) Economic Development Corp. (Spring Air Northwest); Series 1998, YRD RB (LOC-U.S. Bank, N.A.)(a)(c) 0.62% 11/01/23 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Washington (State of) Housing Finance Commission (LTC Properties, Inc.); Series 1995, MFH VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.62% 12/01/15 250 250,000 ====================================================================================================== 17,950,000 ====================================================================================================== WEST VIRGINIA-0.11% Keyser (City of) (Keyser Associates); Ref. VRD IDR (LOC-PNC Bank, N.A.)(a)(c)(g) 0.39% 07/01/14 400 400,000 ====================================================================================================== WISCONSIN-1.82% Byron (Town of) (Ocean Spray Cranberries, Inc.) Series 1998, Ref. VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 12/01/20 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Campbell (Town of) (Skipperliner Industries Inc.); Series 2000, VRD IDR (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.45% 05/01/20 1,780 1,780,000 - ------------------------------------------------------------------------------------------------------ Marathon (County of); Series 2009 A, Unlimited Tax Promissory GO 2.50% 12/01/09 1,000 1,004,354 - ------------------------------------------------------------------------------------------------------ Wisconsin (State of) Health & Educational Facilities Authority (Three Pillars Senior Living Communities); Series 2004 B, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.48% 08/15/34 1,725 1,725,000 - ------------------------------------------------------------------------------------------------------ Wisconsin (State of) Health & Educational Facilities Authority (Valley Packaging Industries, Inc.); Series 2005, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 07/01/35 1,210 1,210,000 ====================================================================================================== 6,719,354 ====================================================================================================== TOTAL INVESTMENTS-102.08% (Cost $379,894,295)(i)(j) 379,894,295 ====================================================================================================== OTHER ASSETS LESS LIABILITIES-(2.08)% (7,727,151) ====================================================================================================== NET ASSETS-100.00% $372,167,144 ______________________________________________________________________________________________________ ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 20 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO Investment Abbreviations: BAN - Bond Anticipation Note CEP - Credit Enhancement Provider COP - Certificates of Participation Ctfs. - Certificates GO - General Obligation Bonds IDR - Industrial Development Revenue Bonds LOC - Letter of Credit MFH - Multi-Family Housing PCR - Pollution Control Revenue Bonds PUTTERs - Putable Tax-Exempt Receipts RB - Revenue Bonds Ref. - Refunding RN - Revenue Notes TAN - Tax Anticipation Notes VRD - Variable Rate Demand Wts. - Warrants
Notes to Schedule of Investments: (a) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (b) Security subject to the alternative minimum tax. (c) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. (d) Advance refunded; secured by an escrow fund of U.S. Government obligations. (e) Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. (f) The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: France: 8%; other countries less than 5% each: 6.7%. (g) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2009 was $37,650,000, which represented 10.12% of the Fund's Net Assets. (h) Synthetic municipal instruments; involves the deposit into a trust of one or more long-term tax-exempt bonds or notes ("Underlying Bonds."), a sale of certificates evidencing interests in the trust to investors such as the Fund. The trustee receives the long-term fixed interest payments on the Underlying Bonds, and pays certificate holders variable rate interest payments based upon a short-term reset periodically. (i) Also represents cost for federal income tax purposes. (j) This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations.
ENTITIES PERCENTAGE --------------------------------------------------------------------------------------------- Wells Fargo Bank, N.A. 14.1% --------------------------------------------------------------------------------------------- U.S. Bank, N.A. 9.7 --------------------------------------------------------------------------------------------- PNC Bank, N.A. 8.9 --------------------------------------------------------------------------------------------- Bank of America, N.A. 8.7 --------------------------------------------------------------------------------------------- JPMorgan Chase Bank, N.A. 8.5 --------------------------------------------------------------------------------------------- BNP Paribas 8.0 --------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp. 5.3 _____________________________________________________________________________________________ =============================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 21 AIM TREASURER'S SERIES TRUST STATEMENT OF ASSETS AND LIABILITIES August 31, 2009
PREMIER U.S. PREMIER PREMIER GOVERNMENT MONEY TAX-EXEMPT PORTFOLIO PORTFOLIO PORTFOLIO - ------------------------------------------------------------ -------------- ---------------- ------------ ASSETS: Investments, at value $3,728,399,181 $1,070,026,752 $379,894,295 - ------------------------------------------------------------ -------------- ---------------- ------------ Repurchase agreements, at value and cost 326,760,759 566,346,214 -- ============================================================ ============== ================ ============ Total investments, at value and cost 4,055,159,940 1,636,372,966 379,894,295 ============================================================ ============== ================ ============ Receivables for: Investments sold -- -- 545,000 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund shares sold 54,891 13,903 710 - ------------------------------------------------------------ -------------- ---------------- ------------ Interest 2,299,716 871,678 561,000 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund expenses absorbed -- 1,326 -- - ------------------------------------------------------------ -------------- ---------------- ------------ Investment for trustee deferred compensation and retirement plans -- 8,035 -- - ------------------------------------------------------------ -------------- ---------------- ------------ Other assets 64,072 3,505 4,094 ============================================================ ============== ================ ============ Total assets 4,057,578,619 1,637,271,413 381,005,099 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ LIABILITIES: Payables for: Investments purchased -- -- 7,341,475 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund shares reacquired 12,596 6,564 300 - ------------------------------------------------------------ -------------- ---------------- ------------ Amount due custodian -- -- 1,404,213 - ------------------------------------------------------------ -------------- ---------------- ------------ Dividends 826,660 244,756 91,967 - ------------------------------------------------------------ -------------- ---------------- ------------ Accrued fees to affiliates 1,350 -- -- - ------------------------------------------------------------ -------------- ---------------- ------------ Trustee deferred compensation and retirement plans -- 8,967 -- ============================================================ ============== ================ ============ Total liabilities 840,606 260,287 8,837,955 ============================================================ ============== ================ ============ Net assets applicable to shares outstanding $4,056,738,013 $1,637,011,126 $372,167,144 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ NET ASSETS CONSIST OF: Shares of beneficial interest $4,056,637,961 $1,636,946,640 $372,166,775 - ------------------------------------------------------------ -------------- ---------------- ------------ Undistributed net investment income 53,862 28,451 444 - ------------------------------------------------------------ -------------- ---------------- ------------ Undistributed net realized gain (loss) 46,190 36,035 (75) ============================================================ ============== ================ ============ $4,056,738,013 $1,637,011,126 $372,167,144 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ NET ASSETS: Investor Class $ 82,809,922 $ 31,340,012 $ 25,146,905 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Institutional Class $3,973,928,091 $1,605,671,114 $347,020,239 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ SHARES OUTSTANDING, $0.01 PAR VALUE PER SHARE, UNLIMITED NUMBER OF SHARES AUTHORIZED: Investor Class 82,802,086 31,339,063 25,147,274 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Institutional Class 3,973,838,410 1,605,635,978 347,019,945 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Net asset value, offering and redemption price per share for each class $ 1.00 $ 1.00 $ 1.00 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 22 AIM TREASURER'S SERIES TRUST STATEMENT OF OPERATIONS For the year ended August 31, 2009
PREMIER U.S. PREMIER PREMIER GOVERNMENT MONEY TAX-EXEMPT PORTFOLIO PORTFOLIO PORTFOLIO - ------------------------------------------------------------- ----------- ---------------- ---------- INVESTMENT INCOME: Interest $50,134,831 $10,260,538 $4,125,278 ============================================================= =========== ================ ========== EXPENSES: Advisory fees 9,489,974 3,238,857 753,564 - ------------------------------------------------------------- ----------- ---------------- ---------- Treasury Guarantee Program Fee 1,275,134 154,698 78,385 ============================================================= =========== ================ ========== Total expenses 10,765,108 3,393,555 831,949 ============================================================= =========== ================ ========== Less: Fees waived (2,691,604) (897,559) -- ============================================================= =========== ================ ========== Net expenses 8,073,504 2,495,996 831,949 ============================================================= =========== ================ ========== Net investment income 42,061,327 7,764,542 3,293,329 ============================================================= =========== ================ ========== Net realized gain from Investment securities* 46,190 48,892 10 ============================================================= =========== ================ ========== Net increase in net assets resulting from operations $42,107,517 $ 7,813,434 $3,293,339 _____________________________________________________________ ___________ ________________ __________ =========================================================== =========== ================ ==========
* Includes net gains from securities sold to affiliates of $257 for Premier U.S. Government Money Portfolio. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 23 AIM TREASURER'S SERIES TRUST STATEMENT OF CHANGES IN NET ASSETS For the years ended August 31, 2009 and 2008
PREMIER U.S. GOVERNMENT PREMIER TAX-EXEMPT PREMIER PORTFOLIO MONEY PORTFOLIO PORTFOLIO ------------------------------ ---------------------------- -------------------------- AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, 2009 2008 2009 2008 2009 2008 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- OPERATIONS: Net investment income $ 42,061,327 $ 171,607,681 $ 7,764,542 $ 8,513,610 $ 3,293,329 $ 3,787,289 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Net realized gain (loss) 46,190 34,347 48,892 (12,857) 10 215 ======================================== ============================== ============================ ========================== Net increase in net assets resulting from operations 42,107,517 171,642,028 7,813,434 8,500,753 3,293,339 3,787,504 ======================================== ============================== ============================ ========================== DISTRIBUTIONS TO SHAREHOLDERS FROM NET INVESTMENT INCOME: Investor Class (1,173,025) (4,208,224) (273,113) (967,487) (294,166) (570,414) - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Institutional Class (40,888,302) (167,399,457) (7,491,429) (7,546,123) (2,999,163) (3,216,875) ======================================== ============================== ============================ ========================== Total distributions from net investment income (42,061,327) (171,607,681) (7,764,542) (8,513,610) (3,293,329) (3,787,289) ======================================== ============================== ============================ ========================== SHARE TRANSACTIONS-NET: Investor Class (25,819,867) (7,016,514) 1,872,605 (1,107,149) 707,286 5,521,137 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Institutional Class (546,257,104) 680,091,754 1,155,205,117 440,135,455 84,938,181 211,635,293 ======================================== ============================== ============================ ========================== Net increase (decrease) in net assets resulting from share transactions (572,076,971) 673,075,240 1,157,077,722 439,028,306 85,645,467 217,156,430 ======================================== ============================== ============================ ========================== Net increase (decrease) in net assets (572,030,781) 673,109,587 1,157,126,614 439,015,449 85,645,477 217,156,645 ======================================== ============================== ============================ ========================== NET ASSETS: Beginning of year 4,628,768,794 3,955,659,207 479,884,512 40,869,063 286,521,667 69,365,022 ======================================== ============================== ============================ ========================== End of year* $4,056,738,013 $4,628,768,794 $1,637,011,126 $479,884,512 $372,167,144 $286,521,667 ======================================== ============================== ============================ ========================== * Includes accumulated undistributed net investment income $ 53,862 $ 53,862 $ 28,451 $ 28,451 $ 444 $ 444 ________________________________________ ______________________________ ____________________________ __________________________ ====================================== ============================== ============================ ==========================
NOTES TO FINANCIAL STATEMENTS August 31, 2009 NOTE 1--SIGNIFICANT ACCOUNTING POLICIES AIM Treasurer's Series Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust consisting of three separate portfolios, (each constituting a "Fund"). The Funds covered in this report are Premier Portfolio, Premier U.S. Government Money Portfolio and Premier Tax-Exempt Portfolio (collectively, the "Funds"). The assets, liabilities and operations of each portfolio are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such portfolio or class. The investment objective of each Fund is a high level of current income consistent with the preservation of capital and the maintenance of liquidity. Each Fund currently consists of two classes of shares: Investor Class and Institutional Class. Investor Class shares of the Fund are offered only to certain grandfathered investors. Each class of shares is sold at net asset value. The following is a summary of the significant accounting policies followed by the Funds in the preparation of their financial statements. A. SECURITY VALUATIONS -- The Funds securities are recorded on the basis of amortized cost which approximates value as permitted by Rule 2a-7 under the 1940 Act. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME -- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income, adjusted for amortization of premiums and accretion of discounts on investments, is recorded on the accrual basis from settlement date. Paydown gains and losses on mortgage and asset-backed securities are recorded as adjustments to interest income. The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain/loss for investments no longer held and as unrealized gain/loss for investments still held. 24 AIM TREASURER'S SERIES TRUST Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund's net asset value and, accordingly, they reduce each Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Funds and the advisor. The Funds allocate realized capital gains and losses to a class based on the relative net assets of each class. The Funds allocate income to a class based on the relative value of the settled shares of each class. C. COUNTRY DETERMINATION -- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment advisor may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. D. DISTRIBUTIONS -- It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually. E. FEDERAL INCOME TAXES -- The Funds intend to comply with the requirements of Subchapter M of the Internal Revenue Code necessary to qualify as a regulated investment company and to distribute substantially all of the Funds' taxable earnings to shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. Each Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally each Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period. F. ACCOUNTING ESTIMATES -- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period end date and before the date the financial statements are released to print, which is generally 45 days from the period end date. G. INDEMNIFICATIONS -- Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts, including each Funds' servicing agreements, that contain a variety of indemnification clauses. Each Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. H. TREASURY GUARANTEE PROGRAM -- The Board of Trustees approved the participation of the Funds in the U.S. Department of Treasury's (the "Treasury Department") Temporary Guarantee Program for Money Market Funds (the "Program") as extended except as noted below. Under the Program, the Treasury Department will guarantee shareholders in the Fund that they will receive $1 for each Fund share held by them as of the close of business on September 19, 2008, in the event that such Fund (in which they were invested as of September 19, 2008) liquidates and the per share value at the time of liquidation is less than $0.995. On April 7, 2009, the Funds' Board approved Premier Portfolio and Premier Tax-Exempt Portfolio to participate in the final extension of the Program through September 18, 2009. The Program expired on September 18, 2009. I. OTHER RISKS -- Investments in obligations issued by agencies and instrumentalities of the U.S. government may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the underlying fund holding securities of such issuer might not be able to recover its investment from the U.S. Government. The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad. The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. Since, many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Fund's investments in municipal securities. There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service. J. REPURCHASE AGREEMENTS -- The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund's pro-rata interest in joint repurchase agreements, is taken into possession by such Fund upon entering into the repurchase agreement. Eligible securities for collateral are securities consistent with the Fund's investment objectives and may consist of U.S. Government Securities, U.S. Government Sponsored Agency Securities and/or, Investment Grade Debt Securities. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is at least 102% of the sales price of the repurchase agreement. Collateral consisting of Investment 25 AIM TREASURER'S SERIES TRUST Grade Debt Securities is marked to market daily to ensure its market value is at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The repurchase amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income. NOTE 2--ADVISORY FEES AND OTHER FEES PAID TO AFFILIATES The Trust has entered into a master investment advisory agreement with Invesco Aim Advisors, Inc. (the "Advisor" or "Invesco Aim"). Under the terms of the investment advisory agreement, each Fund pays an advisory fee to the Advisor at an annual rate of 0.25% of such Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Advisor bears all expenses incurred by each Fund in connection with its operations, except for (i) interest, taxes and extraordinary items such as litigation costs; (ii) brokers' commissions, issue and transfer taxes, and other costs chargeable to each Fund in connection with securities transactions to which such Fund is a party or in connection with securities owned by such Fund; (iii) the cost of participating in the United States Treasury Temporary Guarantee Program; and (iv) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies. Under the terms of a master sub-advisory agreement approved by shareholders of Premier Portfolio and Premier Tax-Exempt Portfolio, respectively between the Advisor and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Australia Limited, Invesco Global Asset Management (N.A.), Inc., Invesco Hong Kong Limited, Invesco Institutional (N.A.), Inc., Invesco Senior Secured Management, Inc. and Invesco Trimark Ltd. (collectively, the "Affiliated Sub-Advisors") the Advisor, not the Funds, may pay 40% of the fees paid to the Advisor to any such Affiliated Sub-Advisor(s) that provide discretionary investment management services to each Fund based on the percentage of assets allocated to such Sub- Advisor(s). Effective July 1, 2009, the Advisor has contractually agreed, through at least June 30, 2010, to waive advisory fees equal to 0.03% of the average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. Prior to July 1, 2009, the Advisor had contractually agreed to waive advisory fees equal to 0.08% of the average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. For the year ended August 31, 2009, the Advisor waived advisory fees and /or reimbursed Fund expenses in the following amounts: Premier Portfolio $2,691,604 - ----------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 897,559 - -----------------------------------------------------------------------------------------------
The Trust has entered into a master administrative services agreement with Invesco Aim to provide accounting services to each Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Aim Investment Services, Inc. ("IAIS") to provide transfer agency and shareholder services to each Fund. Invesco Aim and IAIS do not charge the Funds any fees under these agreements. The Trust has entered into a master distribution agreement with Invesco Aim Distributors, Inc. ("IADI") to serve as the distributor for the Investor Class shares and Institutional Class shares, respectively. Certain officers and trustees of the Trust are officers and directors of Invesco Aim, IAIS and/or IADI. NOTE 3--ADDITIONAL VALUATION INFORMATION Generally Accepted Accounting Principles (GAAP) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3) generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level: Level 1 -- Prices are determined using quoted prices in an active market for identical assets. Level 2 -- Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others. Level 3 -- Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. The following is a summary of the tiered valuation input levels, as of the end of the reporting period, August 31, 2009. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
LEVEL 1 LEVEL 2 LEVEL 3 TOTAL - --------------------------------------------------------------------------------------------------------------------------- Premier Portfolio Short-Term Investments $-- $4,055,159,940 $-- $4,055,159,940 - --------------------------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio Short-Term Investments -- 1,636,372,966 -- 1,636,372,966 - --------------------------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio Short-Term Investments -- 379,894,295 -- 379,894,295 - ---------------------------------------------------------------------------------------------------------------------------
26 AIM TREASURER'S SERIES TRUST NOTE 4--SECURITY TRANSACTIONS WITH AFFILIATED FUNDS Each Fund is permitted to purchase or sell securities from or to certain other AIM Funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund or portfolio that is or could be considered an affiliate by virtue of having a common investment advisor (or affiliated investment advisors), common Trustees and/or common officers complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. For the year ended August 31, 2009, each Fund engaged in transactions with affiliates as listed below:
SECURITIES NET PURCHASES SECURITIES SALES REALIZED GAINS - ------------------------------------------------------------------------------------------------------------------ Premier Portfolio $113,057,321 $ (43,048,112) $ -- - ------------------------------------------------------------------------------------------------------------------ Premier U.S. Government Money Portfolio 4,999,972 -- 257 - ------------------------------------------------------------------------------------------------------------------ Premier Tax-Exempt Portfolio 591,682,678 (408,853,090) -- - ------------------------------------------------------------------------------------------------------------------
NOTE 5--TRUSTEES' AND OFFICERS' FEES AND BENEFITS Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various AIM Funds in which their deferral accounts shall be deemed to be invested. Certain current Trustees are eligible to participate in a retirement plan that provides for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. Each Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco Aim and not by the Trust. NOTE 6--CASH BALANCES The Funds are permitted to temporarily overdraft or leave balances in their accounts with The Bank of New York Mellon (BNY Mellon), the custodian bank. To compensate BNY Mellon or the Funds for such activity, the Funds may either (i) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco Aim, not to exceed the contractually agreed upon rate; or (ii) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds. NOTE 7--DISTRIBUTIONS TO SHAREHOLDERS AND TAX COMPONENTS OF NET ASSETS Tax Character of Distributions to Shareholders Paid During the Years Ended August 31, 2009 and 2008:
2009 2008 ORDINARY INCOME ORDINARY INCOME - --------------------------------------------------------------------------------------------------------- Premier Portfolio $42,061,327 $171,607,681 - --------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 7,764,542 8,513,610 - --------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio -- Tax-Exempt 3,293,329 3,787,289 - ---------------------------------------------------------------------------------------------------------
TAX COMPONENTS OF NET ASSETS AT PERIOD-END:
TEMPORARY UNDISTRIBUTED BOOK/TAX CAPITAL LOSS SHARES OF TOTAL ORDINARY INCOME DIFFERENCES CARRYFORWARD BENEFICIAL INTEREST NET ASSETS - ------------------------------------------------------------------------------------------------------------------ Premier Portfolio $100,052 $ -- $ -- $4,056,637,961 $4,056,738,013 - ------------------------------------------------------------------------------------------------------------------ Premier U.S. Government Money Portfolio 72,277 (7,791) 1,636,946,640 1,637,011,126 - ------------------------------------------------------------------------------------------------------------------ Premier Tax-Exempt Portfolio 444 -- (75) 372,166,775 372,167,144 - ------------------------------------------------------------------------------------------------------------------
The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Funds temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits. Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Funds to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions. The following Fund utilized capital loss carryforward in the current period to offset net realized capital gain for federal income tax purposes as follows:
CAPITAL LOSS CARRYFORWARD UTILIZED - --------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio $10 - ---------------------------------------------------------------------------------------------------
27 AIM TREASURER'S SERIES TRUST The following Fund listed below has a capital loss carryforward as of August 31, 2009 which expires as follows:
2012* - ------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio $75 - -------------------------------------------------------------------------------------------
* Capital loss carryforward as of the date listed above is reduced for limitations, if any, to the extent required by the Internal Revenue Code. NOTE 8--SHARE INFORMATION PREMIER PORTFOLIO
SUMMARY OF SHARE ACTIVITY - ---------------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ----------------------------------------------------------------------------- 2009(a) 2008 ------------------------------------ ------------------------------------ SHARES AMOUNT SHARES AMOUNT - ---------------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 47,633,427 $ 47,633,427 68,043,146 $ 68,043,146 - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class 24,531,054,932 24,531,054,932 32,349,183,017 32,349,183,017 ================================================================================================================================== Issued as reinvestment of dividends: Investor Class 1,099,467 1,099,467 3,989,858 3,989,858 - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class 16,096,073 16,096,073 66,655,685 66,655,685 ================================================================================================================================== Reacquired: Investor Class (74,552,761) (74,552,761) (79,049,518) (79,049,518) - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class (25,093,408,109) (25,093,408,109) (31,735,746,948) (31,735,746,948) ================================================================================================================================== Net increase (decrease) in share activity (572,076,971) $ (572,076,971) 673,075,240 $ 673,075,240 __________________________________________________________________________________________________________________________________ ==================================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 32% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. In addition, 36% of the outstanding shares of the Fund are owned by affiliated mutual funds. Affiliated mutual funds are other mutual funds that are also advised by Invesco AIM. PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
SUMMARY OF SHARE ACTIVITY - -------------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ------------------------------------------------------------------------- 2009(a) 2008 ---------------------------------- ---------------------------------- SHARES AMOUNT SHARES AMOUNT - -------------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 28,241,195 $ 28,241,195 12,258,798 $ 12,258,798 - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class 5,960,891,705 5,960,891,705 1,557,906,977 1,557,906,977 ================================================================================================================================ Issued as reinvestment of dividends: Investor Class 262,544 262,544 935,876 935,876 - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class 3,642,356 3,642,356 3,740,670 3,740,670 ================================================================================================================================ Reacquired: Investor Class (26,631,134) (26,631,134) (14,301,823) (14,301,823) - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class (4,809,328,944) (4,809,328,944) (1,121,512,192) (1,121,512,192) ================================================================================================================================ Net increase in share activity 1,157,077,722 $ 1,157,077,722 439,028,306 $ 439,028,306 ________________________________________________________________________________________________________________________________ ================================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 82% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. 28 AIM TREASURER'S SERIES TRUST NOTE 8--SHARE INFORMATION--(CONTINUED) PREMIER TAX-EXEMPT PORTFOLIO
SUMMARY OF SHARE ACTIVITY - --------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ----------------------------------------------------------------- 2009(a) 2008 ------------------------------ ------------------------------ SHARES AMOUNT SHARES AMOUNT - --------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 29,004,073 $ 29,004,073 27,617,117 $ 27,617,117 - --------------------------------------------------------------------------------------------------------------------------- Institutional Class 751,825,717 751,825,717 670,891,517 670,891,517 =========================================================================================================================== Issued as reinvestment of dividends: Investor Class 270,951 270,951 555,280 555,280 - --------------------------------------------------------------------------------------------------------------------------- Institutional Class 3,010,446 3,010,446 2,779,671 2,779,671 =========================================================================================================================== Reacquired: Investor Class (28,567,738) (28,567,738) (22,651,260) (22,651,260) - --------------------------------------------------------------------------------------------------------------------------- Institutional Class (669,897,982) (669,897,982) (462,035,895) (462,035,895) =========================================================================================================================== Net increase in share activity 85,645,467 $ 85,645,467 217,156,430 $ 217,156,430 ___________________________________________________________________________________________________________________________ ===========================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 90% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. 29 AIM TREASURER'S SERIES TRUST NOTE 9--FINANCIAL HIGHLIGHTS The following schedule presents financial highlights for a share of each Fund outstanding throughout the periods indicated. INVESTOR CLASS
NET GAINS NET ASSET (LOSSES) ON DIVIDENDS VALUE, NET SECURITIES (BOTH TOTAL FROM FROM NET NET ASSET NET ASSETS, BEGINNING INVESTMENT REALIZED AND INVESTMENT INVESTMENT VALUE, END TOTAL END OF PERIOD OF PERIOD INCOME UNREALIZED) OPERATIONS INCOME OF PERIOD RETURN(a) (000S OMITTED) - --------------------------------------------------------------------------------------------------------------------------------- PREMIER PORTFOLIO Year ended 08/31/09 $1.00 $0.01(b) $ 0.00 $0.01 $(0.01) $1.00 1.21% $ 82,810 Year ended 08/31/08 1.00 0.04 0.00 0.04 (0.04) 1.00 3.80 108,627 Year ended 08/31/07 1.00 0.05 (0.00) 0.05 (0.05) 1.00 5.35 115,642 Year ended 08/31/06 1.00 0.04 0.00 0.04 (0.04) 1.00 4.55 99,491 Year ended 08/31/05 1.00 0.02 -- 0.02 (0.02) 1.00 2.46 112,067 - --------------------------------------------------------------------------------------------------------------------------------- PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Year ended 08/31/09 1.00 0.01(b) 0.00 0.01 (0.01) 1.00 0.83 31,340 Year ended 08/31/08 1.00 0.03 (0.00) 0.03 (0.03) 1.00 3.29 29,466 Year ended 08/31/07 1.00 0.05 0.00 0.05 (0.05) 1.00 5.25 30,569 Year ended 08/31/06 1.00 0.04 -- 0.04 (0.04) 1.00 4.44 29,739 Year ended 08/31/05 1.00 0.02 -- 0.02 (0.02) 1.00 2.06 31,598 - --------------------------------------------------------------------------------------------------------------------------------- PREMIER TAX-EXEMPT PORTFOLIO Year ended 08/31/09 1.00 0.01(b) 0.00 0.01 (0.01) 1.00 1.13 25,147 Year ended 08/31/08 1.00 0.03 0.00 0.03 (0.03) 1.00 2.66 24,440 Year ended 08/31/07 1.00 0.03 -- 0.03 (0.03) 1.00 3.53 18,920 Year ended 08/31/06 1.00 0.03 -- 0.03 (0.03) 1.00 3.04 17,420 Year ended 08/31/05 1.00 0.02 -- 0.02 (0.02) 1.00 1.88 20,682 _________________________________________________________________________________________________________________________________ ================================================================================================================================= RATIO OF RATIO OF EXPENSES EXPENSES RATIO OF NET TO AVERAGE TO AVERAGE NET INVESTMENT NET ASSETS ASSETS WITHOUT INCOME WITH FEE WAIVERS FEE WAIVERS TO AVERAGE AND/OR EXPENSE AND/OR EXPENSE NET ASSETS - ------------------------------------------------------------------------- PREMIER PORTFOLIO Year ended 08/31/09 0.21%(c) 0.28%(c) 1.11%(c) Year ended 08/31/08 0.17 0.25 3.62 Year ended 08/31/07 0.17 0.25 5.23 Year ended 08/31/06 0.17 0.25 4.74 Year ended 08/31/05 0.20 0.25 2.34 - ------------------------------------------------------------------------- PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Year ended 08/31/09 0.19(c) 0.26(c) 0.60(c) Year ended 08/31/08 0.17 0.25 2.60 Year ended 08/31/07 0.17 0.25 5.13 Year ended 08/31/06 0.17 0.25 4.34 Year ended 08/31/05 0.52 0.96 1.98 - ------------------------------------------------------------------------- PREMIER TAX-EXEMPT PORTFOLIO Year ended 08/31/09 0.28(c) 0.28(c) 1.09(c) Year ended 08/31/08 0.25 0.25 2.48 Year ended 08/31/07 0.25 0.25 3.46 Year ended 08/31/06 0.25 0.25 2.99 Year ended 08/31/05 0.25 0.25 1.88 _________________________________________________________________________ =========================================================================
(a) Includes adjustments in accordance with accounting principles generally accepted in the United States of America. (b) Calculated using average shares outstanding. (c) Ratios are based on average daily net assets (000s omitted) of $92,768, $31,904 and $25,776 for Premier Portfolio, Premier U.S. Government Money Portfolio and Premier Tax-Exempt Portfolio, respectively. 30 AIM TREASURER'S SERIES TRUST REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Trustees and Investor Class Shareholders of AIM Treasurer's Series Trust: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the Investor Class financial highlights present fairly, in all material respects, the financial position of Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio (the three portfolios constituting AIM Treasurer's Series Trust, hereafter referred to as the "Trust") at August 31, 2009, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the Investor Class financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Trust's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at August 31, 2009 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. PRICEWATERHOUSECOOPERS LLP October 16, 2009 Houston, Texas 31 AIM TREASURER'S SERIES TRUST CALCULATING YOUR ONGOING FUND EXPENSES EXAMPLE As a shareholder in the Investor Class, you incur ongoing costs, such as management fees. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period March 1, 2009, through August 31, 2009. ACTUAL EXPENSES The table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled "Actual Expenses Paid During Period" to estimate the expenses you paid on your account during this period. HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES The table below also provides information about hypothetical account values and hypothetical expenses based on each Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
- --------------------------------------------------------------------------------------------------------------- HYPOTHETICAL (5% ANNUAL RETURN BEFORE ACTUAL EXPENSES) ------------------------------------------------------ BEGINNING ENDING EXPENSES ENDING EXPENSES ANNUALIZED ACCOUNT VALUE ACCOUNT VALUE PAID DURING ACCOUNT VALUE PAID DURING EXPENSE INVESTOR CLASS (03/01/09) (08/31/09)(1) PERIOD(2,4) (08/31/09) PERIOD(2,5) RATIO(3) - --------------------------------------------------------------------------------------------------------------- Premier Portfolio $1,000.00 $1,002.60 $1.11 $1,024.10 $1.12 0.22% - --------------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 1,000.00 1,001.50 1.01 1,024.20 1.02 0.20 - --------------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio 1,000.00 1,002.20 1.36 1,023.84 1.38 0.25 - ---------------------------------------------------------------------------------------------------------------
(1) The actual ending account value is based on the actual total return of the Funds for the period March 1, 2009, through August 31, 2009, after actual expenses and will differ from the hypothetical ending account value which is based on each Fund's expense ratio and a hypothetical annual return of 5% before expenses. (2) Expenses are equal to each Fund's annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half year. (3) Effective July 1, 2009, the Fund's advisor has contractually agreed, through at least June 30, 2010 to waive advisory fees equal to 0.03% of average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. In addition, effective May 1, 2009 for Premier U. S. Government Money Fund and effective September 19, 2009 for Premier Portfolio and Premier Tax-Exempt Portfolio, participation in the United States Treasury Temporary Guarantee Program (the "Program") ended on the Program's final expiration date. The annualized expense ratios restated as if these agreements had been in effect throughout the entire most recent fiscal half year are 0.22% and 0.25% for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated annualized expense ratios remained the same for Premier U.S. Government Money Portfolio. (4) The actual expenses paid restated as if the changes discussed above, in footnote 3, had been in effect throughout the entire most recent fiscal half year are $1.26 and $1.11 for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated actual expenses paid remained the same for Premier U.S. Government Money Portfolio (5) Hypothetical expenses are equal to the annualized expense ratio indicated in the table above multiplied by the average account value over the period, multiplied by 184/365 to reflect a one-half year period. The hypothetical expenses paid restated as if the changes discussed above, in footnote 3, had been in effect throughout the entire most recent fiscal half year period are $1.28 and $1.12 for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated hypothetical expenses remained the same for Premier U.S. Government Money Portfolio 32 AIM TREASURER'S SERIES TRUST - ------------------------------------------------------------------------------------------------------------------------------------ APPROVAL OF INVESTMENT ADVISORY AND SUB-ADVISORY AGREEMENTS (PREMIER PORTFOLIO, PREMIER U.S. GOVERNMENT MONEY PORTFOLIO AND PREMIER TAX-EXEMPT PORTFOLIO) The Board of Trustees (the Board) of AIM managers for their assigned funds and and reasonableness of each Fund's Treasurer's Series Trust (the Trust) is other members of management and review investment advisory agreement and, if required under the Investment Company Act with these individuals the performance, applicable, sub-advisory contracts. The of 1940 to approve annually the renewal of investment objective(s), policies, Board considered all of the information each series portfolio of the Trust's strategies and limitations of these funds. provided to them, including information (each, a Fund) investment advisory provided at their meetings throughout the agreement with Invesco Aim Advisors, Inc. In addition to their meetings year as part of their ongoing oversight of (Invesco Aim) and the renewal of the throughout the year, the Sub-Committees such Fund, and did not identify any Master Intergroup Sub-Advisory Contract meet at designated contract renewal particular factor that was controlling. for Mutual Funds (the sub-advisory meetings each year to conduct an in-depth Each Trustee may have evaluated the contracts) with Invesco Asset Management review of the performance, fees, expenses, information provided differently from Deutschland GmbH, Invesco Asset Management and other matters related to their another Trustee and attributed different Limited, Invesco Asset Management (Japan) assigned funds. During the contract weight to the various factors. The Limited, Invesco Australia Limited, renewal process, the Trustees receive Trustees recognized that the advisory Invesco Global Asset Management (N.A.), comparative performance and fee data arrangements and resulting advisory fees Inc., Invesco Hong Kong Limited, Invesco regarding the AIM Funds prepared by an for each Fund and the other AIM Funds are Institutional (N.A.), Inc., Invesco Senior independent company, Lipper, Inc. the result of years of review and Secured Management, Inc. and Invesco (Lipper), under the direction and negotiation between the Trustees and Trimark Ltd. (collectively, the Affiliated supervision of the Senior Officer who Invesco Aim, that the Trustees may focus Sub-Advisers) for Premier Portfolio also prepares a separate analysis of this to a greater extent on certain aspects of and Premier Tax-Exempt Portfolio only. information for the Trustees. Each these arrangements in some years than in During contract renewal meetings held on Sub-Committee then makes recommendations others, and that the Trustees' June 16-17, 2009, the Board as a whole, to the Investments Committee regarding the deliberations and conclusions in a and the disinterested or "independent" fees and expenses of their assigned funds. particular year may be based in part on Trustees voting separately, approved the The Investments Committee considers each their deliberations and conclusions continuance of each Fund's investment Sub-Committee's recommendations and makes regarding these same arrangements advisory agreement and, if applicable, the its own recommendations regarding the fees throughout the year and in prior years. sub-advisory contracts for another year, and expenses of the AIM Funds to the full effective July 1, 2009. In doing so, the Board. The Investments Committee also The discussion below serves as a Board determined that each Fund's considers each Sub-Committee's summary of the Senior Officer's investment advisory agreement and, if recommendations in making its annual independent written evaluation with applicable, sub-advisory contracts are in recommendation to the Board whether to respect to each Fund's investment advisory the best interests of the Fund and its approve the continuance of each AIM Fund's agreement as well as a discussion of the shareholders and that the compensation to investment advisory agreement and, if material factors and related conclusions Invesco Aim and the Affiliated applicable, sub-advisory contracts for that formed the basis for the Board's Sub-Advisers under each Fund's investment another year. approval of each Fund's investment advisory agreement and sub-advisory advisory agreement and, if applicable, contracts is fair and reasonable. The independent Trustees met separately sub-advisory contracts. Unless otherwise during their evaluation of each Fund's stated, information set forth below is as THE BOARD'S FUND EVALUATION PROCESS investment advisory agreement and, if of June 17, 2009, and does not reflect applicable, sub-advisory contracts with any changes that may have occurred since The Board's Investments Committee has independent legal counsel. The independent that date, including but not limited to established three Sub-Committees that are Trustees were also assisted in their changes to a Fund's performance, advisory responsible for overseeing the management annual evaluation of each Fund's fees, expense limitations and/or fee of a number of the series portfolios of investment advisory agreement by the waivers. the AIM Funds. This Sub-Committee Senior Officer. One responsibility of the structurepermits the Trustees to focus on Senior Officer is to manage the process FACTORS AND CONCLUSIONS AND SUMMARY OF the performance of the AIM Funds that have by which the AIM Funds' proposed INDEPENDENT WRITTEN FEE EVALUATION been assigned to them. The Sub-Committees management fees are negotiated during the meet throughout the year to review the annual contract renewal process to ensure A. Nature, Extent and Quality of performance of their assigned funds, and that they are negotiated in a manner that Services Provided by Invesco Aim the Sub-Committees review monthly and is at arms' length and reasonable. quarterly comparative performance Accordingly, the Senior Officer must The Board reviewed the advisory services information and periodic asset flow data either supervise a competitive bidding provided to each Fund by Invesco Aim under for their assigned funds. These materials process or prepare an independent written the Fund's investment advisory agreement, are prepared under the direction and evaluation. The Senior Officer the performance of Invesco Aim in supervision of the independent Senior recommended that an independent written providing these services, and the Officer, an officer of the AIM Funds who evaluation be provided and, at the credentials and experience of the officers reports directly to the independent direction of the Board, prepared an and employees of Invesco Aim who provide Trustees. Over the course of each year, independent written evaluation. these services. The Board's review of the the Sub-Committees meet with portfolio qualifications of Invesco Aim to provide During the annual contract renewal these services included the Board's process, the Board considered the factors consideration of Invesco Aim's portfolio discussed below in evaluating the fairness and product review process, various back office support 33 AIM TREASURER'S SERIES TRUST continued
functions provided by Invesco Aim and its countries and securities of companies universe that are not managed by affiliates, and Invesco Aim's equity and located in such countries or on various Invesco Aim and against the Lipper U.S. fixed income trading operations. The types of investments and investment Government Money Market Funds Index. The Board concluded that the nature, extent techniques. The Board noted that Board noted that the Fund's performance and quality of the advisory services investment decisions for each Fund are was in the first quintile of its provided to each Fund by Invesco Aim are made by Invesco Institutional (N.A.), Inc. performance universe for the one, three appropriate and that Invesco Aim currently (Invesco Institutional). The Board and five year periods (the first is providing satisfactory advisory concluded that the sub-advisory contracts quintile being the best performing funds services in accordance with the terms of benefit each Fund and its shareholders by and the fifth quintile being the worst each Fund's investment advisory agreement. permitting Invesco Aim to utilize the performing funds). The Board noted that In addition, based on their ongoing additional resources and talent of the the Fund's performance was above the meetings throughout the year with each Affiliated Sub-Advisers in managing such performance of the Index for the one, Fund's portfolio manager or managers, the Fund. three and five year periods. Although the Board concluded that these individuals are independent written evaluation of the competent and able to continue to carry C. Fund Performance Fund's Senior Officer only considered out their responsibilities under each Fund performance through the most recent Fund's investment advisory agreement. PREMIER PORTFOLIO calendar year, the Board also reviewed more recent Fund performance and this In determining whether to continue each The Board considered fund performance review did not change their conclusions. Fund's investment advisory agreement, the as a relevant factor in considering The Board noted that, in response to the Board considered the prior relationship whether to approve the investment advisory Board's focus on fund performance, Invesco between Invesco Aim and the Fund, as well agreement as well as the sub-advisory Aim has taken a number of actions intended as the Board's knowledge of Invesco Aim's contracts, as Invesco Institutional to improve the investment process for the operations, and concluded that it is currently manages assets of the Fund. funds. beneficial to maintain the current relationship, in part, because of such The Board compared the Fund's PREMIER TAX-EXEMPT PORTFOLIO knowledge. The Board also considered the performance during the past one, three and steps that Invesco Aim and its affiliates five calendar years to the performance of The Board considered fund performance as a continue to take to improve the quality all funds in the Lipper performance relevant factor in considering whether to and efficiency of the services they universe that are not managed by Invesco approve the investment advisory agreement provide to the AIM Funds in the areas of Aim or an Affiliated Sub-Adviser and as well as the sub-advisory contracts as investment performance, product line against the Lipper Institutional Money Invesco Institutional currently manages diversification, distribution, fund Market Funds Index. The Board noted that assets of the Fund. operations, shareholder services and the Fund's performance was in the first compliance. The Board concluded that the quintile of its performance universe for The Board compared the Fund's quality and efficiency of the services the one, three and five year periods (the performance during the past one, three and Invesco Aim and its affiliates provide to first quintile being the best performing five calendar years to the performance of the AIM Funds in each of these areas funds and the fifth quintile being the all funds in the Lipper performance support the Board's approval of the worst performing funds). The Board noted universe that are not managed by Invesco continuance of the Fund's investment that the Fund's performance was above the Aim or an affiliated Sub-Adviser and advisory agreement. performance of the Index for the one, against the Lipper U.S. Government Money three and five year periods. Although the Market Funds Index. The Board noted that B. Nature, Extent and Quality of independent written evaluation of the the Fund's performance was in the first Services Provided by Affiliated Fund's Senior Officer only considered quintile of its performance universe for Sub-Advisers Fund performance through the most recent the one, three and five year periods (the calendar year, the Board also reviewed first quintile being the best performing (PREMIER PORTFOLIO AND PREMIER TAX-EXEMPT more recent Fund performance and this funds and the fifth quintile being the PORTFOLIO ONLY) review did not change their conclusions. worst performing funds). The Board noted The Board noted that, in response to the that the Fund's performance was above the The Board reviewed the services provided Board's focus on fund performance, Invesco performance of the Index for the one, by the Affiliated Sub-Advisers under the Aim has taken a number of actions intended three and five year periods. Although the sub-advisory contracts and the credentials to improve the investment process for the independent written evaluation of the and experience of the officers and funds. Fund's Senior Officer only considered employees of the Affiliated Sub-Advisers Fund performance through the most recent who provide these services. The Board PREMIER U.S. GOVERNMENT MONEY PORTFOLIO calendar year, the Board also reviewed concluded that the nature, extent and more recent Fund performance and this quality of the services provided by the The Board considered fund performance as a review did not change their conclusions. Affiliated Sub-Advisers are appropriate. relevant factor in considering whether to The Board noted that, in response to the The Board noted that the Affiliated approve the investment advisory agreement. Board's focus on fund performance, Invesco Sub-Advisers, which have offices and Aim has taken a number of actions intended personnel that are geographically The Board compared the Fund's to improve the investment process for the dispersed in financial centers around the performance during the past one, three and funds. world, can provide research and other five calendar years to the performance of information and make recommendations on all funds in the Lipper performance the markets and economies of various 34 AIM TREASURER'S SERIES TRUST continued
D. Advisory and Sub-Advisory Fees and advisory fee after fee waivers and other The Board noted that the Fund's Fee Waivers relevant factors, the Board concluded that contractual advisory fee rate was below the Fund's advisory and sub-advisory fees the median contractual advisory fee rate PREMIER PORTFOLIO are fair and reasonable. of funds in its expense group. The Board also reviewed the methodology used by The Board compared the Fund's contractual PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Lipper in determining contractual fee advisory fee rate to the contractual rates, which includes using audited advisory fee rates of funds in the Fund's The Board compared the Fund's contractual financial data from the most recent annual Lipper expense group that are not managed advisory fee rate to the contractual report of each fund in the expense group by Invesco Aim or an Affiliated advisory fee rates of funds in the Fund's that was publicly available as of the end Sub-Adviser, at a common asset level. The Lipper expense group that are not managed of the past calendar year. The Board noted Board noted that the Fund's contractual by Invesco Aim, at a common asset level. that some comparative data was at least advisory fee rate was below the median The Board noted that the Fund's one year old and that other data did not contractual advisory fee rate of funds in contractual advisory fee rate was below reflect the market downturn that occurred its expense group. The Board also reviewed the median contractual advisory fee rate in the fourth quarter of 2008. the methodology used by Lipper in of funds in its expense group. The Board determining contractual fee rates, which also reviewed the methodology used by The Board also compared the Fund's includes using audited financial data from Lipper in determining contractual fee effective fee rate (the advisory fee after the most recent annual report of each fund rates, which includes using audited any advisory fee waivers and before any in the expense group that was publicly financial data from the most recent annual expense limitations/waivers) to the available as of the end of the past report of each fund in the expense group advisory fee rates of other domestic calendar year. The Board noted that some that was publicly available as of the end clients of Invesco Aim and its affiliates comparative data did not reflect the of the past calendar year. The Board noted with investment strategies comparable to market downturn that occurred in the that some comparative data was more than those of the Fund, including one mutual fourth quarter of 2008. The Board noted one year old and that other data did not fund advised by Invesco Aim. The Board that neither Invesco Aim nor its reflect the market downturn that occurred noted that the Fund's rate was below the affiliates serve as an adviser to other in the fourth quarter of 2008. The Board effective fee rate for the mutual fund. domestic mutual funds or other domestic noted that neither Invesco Aim nor its clients with investment strategies affiliates serve as an adviser to other The Board noted that Invesco Aim has comparable to those of the Fund. domestic mutual funds or other domestic not proposed any advisory fee waivers or clients with investment strategies expense limitations for the Fund. The The Board noted that Invesco Aim comparable to those of the Fund. Board concluded that it was not necessary contractually agreed to continue to waive at this time to discuss with Invesco Aim fees and/or limit expenses of the Fund The Board noted that Invesco Aim whether to implement any such waivers or through at least June 30, 2010 in an contractually agreed to continue to waive expense limitations because the Fund's amount necessary to limit total annual fees and/or limit expenses of the Fund total expenses were below the median total operating expenses to a specified through at least June 30, 2010 in an expenses of the funds in the Fund's percentage of average daily net assets for amount necessary to limit total annual expense group that are not managed by each class of the Fund. The Board noted operating expenses to a specified Invesco Aim or an Affiliated Sub-Adviser that the specified percentage before the percentage of average daily net assets for and below the effective fee rate of a waiver becomes effective has been each class of the Fund. The Board noted comparable mutual fund advised by Invesco increased effective July 1, 2009, and that that the specified percentage before the Aim. The Board also noted the "all-in" the waiver will have a smaller impact on waiver becomes effective has been nature of the Fund's contractual advisory expenses during the coming year. The Board increased effective July 1, 2009, and that fee, whereby Invesco Aim pays all of the also noted the "all-in" nature of the the waiver will have a smaller impact on Fund's ordinary operating expenses. Fund's contractual advisory fee, whereby expenses during the coming year. The Board Invesco Aim pays all of the Fund's also noted the "all-in" nature of the The Board also considered the services ordinary operating expenses. Fund's contractual advisory fee, whereby provided by the Affiliated Sub-Advisers Invesco Aim pays all of the Fund's pursuant to the sub-advisory contracts and The Board also considered the services ordinary operating expenses. the services provided by Invesco Aim provided by the Affiliated Sub-Advisers pursuant to the Fund's advisory agreement, pursuant to the sub-advisory contracts and After taking account of the Fund's as well as the allocation of fees between the services provided by Invesco Aim contractual advisory fee rate, the expense Invesco Aim and the Affiliated pursuant to the Fund's advisory agreement, limitations and other relevant factors, Sub-Advisers pursuant to the sub-advisory as well as the allocation of fees between the Board concluded that the Fund's contracts. The Board noted that the Invesco Aim and the Affiliated advisory fees are fair and reasonable. sub-advisory fees have no direct effect on Sub-Advisers pursuant to the sub-advisory the Fund or its shareholders, as they are contracts. The Board noted that the PREMIER TAX-EXEMPT PORTFOLIO paid by Invesco Aim to the Affiliated sub-advisory fees have no direct effect on Sub-Advisers, and that Invesco Aim and the the Fund or its shareholders, as they are The Board compared the Fund's contractual Affiliated Sub-Advisers are affiliates. paid by Invesco Aim to the Affiliated advisory fee rate to the contractual Sub-Advisers, and that Invesco Aim and the advisory fee rates of funds in the Fund's After taking account of the Fund's Affiliated Sub-Advisers are affiliates. Lipper expense group that are not managed contractual advisory fee rate, the by Invesco Aim or an Affiliated contractual sub-advisory fee rate, the After taking account of the Fund's Sub-Adviser, at a common asset level. comparative advisory fee information contractual advisory fee rate, the contractual sub-advisory fee rate, the 35 AIM TREASURER'S SERIES TRUST continued
discussed above and other relevant Affiliated Sub-Adviser is financially factors, the Board concluded that the sound and has the resources necessary to Fund's advisory and sub-advisory fees are perform its obligations under the fair and reasonable. sub-advisory contracts, and concluded that each Affiliated Sub-Adviser has the E. Economies of Scale and Breakpoints financial resources necessary to fulfill these obligations. The Board considered the extent to which there are economies of scale in the G. Collateral Benefits to Invesco Aim provision of advisory services to each and its Affiliates Fund. The Board also considered whether each Fund benefits from such economies of The Board considered various other scale through contractual breakpoints in benefits received by Invesco Aim and its each Fund's advisory fee schedule. The affiliates resulting from Invesco Aim's Board noted that each Fund's contractual relationship with each Fund, including the advisory fee schedule does not include any fees received by Invesco Aim and its breakpoints. The Board noted that each affiliates for their provision of Fund shares directly in economies of scale administrative, transfer agency and through lower fees charged by third party distribution services to each Fund. The service providers based on the combined Board considered the performance of size of all of the AIM Funds and Invesco Aim and its affiliates in affiliates. providing these services and the organizational structure employed by F. Profitability and Financial Invesco Aim and its affiliates to provide Resources these services. The Board also considered that these services are provided to each The Board reviewed information from Fund pursuant to written contracts that Invesco Aim concerning the costs of the are reviewed and approved on an annual advisory and other services that Invesco basis by the Board. The Board concluded Aim and its affiliates provide to each that Invesco Aim and its affiliates are Fund and the profitability of Invesco Aim providing these services in a satisfactory and its affiliates in providing these manner and in accordance with the terms of services. The Board also reviewed their contracts, and are qualified to information concerning the financial continue to provide these services to each condition of Invesco Aim and its Fund. affiliates. The Board reviewed with Invesco Aim the methodology used to The Board considered the benefits prepare the profitability information. The realized by Invesco Aim and the Affiliated Board considered the overall profitability Sub-Advisers as a result of portfolio of Invesco Ltd., the ultimate parent of brokerage transactions executed through Invesco Aim and the Affiliated "soft dollar" arrangements. The Board Sub-Advisers, and of Invesco Aim, as well noted that soft dollar arrangements shift as the profitability of Invesco Aim in the payment obligation for research and connection with managing each Fund. The execution services from Invesco Aim and Board noted that Invesco Aim continues to the Affiliated Sub-Advisers to the funds operate at a net profit, although the and therefore may reduce Invesco Aim's and reduction of assets under management as a the Affiliated Sub-Advisers' expenses. The result of market movements and the Board concluded that Invesco Aim's and the increase in voluntary fee waivers for Affiliated Sub-Advisers' soft dollar affiliated money market funds have reduced arrangements are appropriate. The Board the profitability of Invesco Aim and its also concluded that, based on their review affiliates. The Board concluded that each and representations made by the Chief Fund's fees are fair and reasonable, and Compliance Officer of Invesco Aim, these that the level of profits realized by arrangements are consistent with Invesco Aim and its affiliates from regulatory requirements. providing services to each Fund is not excessive in light of the nature, quality and extent of the services provided. The Board considered whether Invesco Aim is financially sound and has the resources necessary to perform its obligations under each Fund's investment advisory agreement, and concluded that Invesco Aim has the financial resources necessary to fulfill these obligations. The Board also considered whether each 36 AIM TREASURER'S SERIES TRUST
TAX INFORMATION Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors. The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement. The Funds designate the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended August 31, 2009: FEDERAL AND STATE INCOME TAX
QUALIFIED DIVIDEND CORPORATE DIVIDENDS U.S. TREASURY TAX-EXEMPT INCOME INCOME* RECEIVED DEDUCTION* OBLIGATIONS* DIVIDENDS* - ----------------------------------------------------------------------------------------------------------------------------- Premier Portfolio 0% 0% 0.01% -- - ----------------------------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 0% 0% 0.65% -- - ----------------------------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio 0% 0% -- 100% - -----------------------------------------------------------------------------------------------------------------------------
* The above percentage is based on ordinary income dividends paid to shareholders during the Fund's fiscal year. 37 AIM TREASURER'S SERIES TRUST TRUSTEES AND OFFICERS The address of each trustee and officer of AIM Treasurer's Series Trust (the "Trust"), is 11 Greenway Plaza, Suite 100, Houston, Texas 77046-1173. Each trustee oversees 105 portfolios in the AIM Funds complex. The trustees serve for the life of the Trust, subject to their earlier death, incapacitation, resignation, retirement or removal as more specifically provided in the Trust's organizational documents. Each officer serves for a one year term or until their successors are elected and qualified. Column two below includes length of time served with predecessor entities, if any.
NAME, YEAR OF BIRTH AND TRUSTEE AND/ OTHER POSITION(S) HELD WITH THE OR OFFICER PRINCIPAL OCCUPATION(S) DIRECTORSHIP(S) TRUST SINCE DURING PAST 5 YEARS HELD BY TRUSTEE - ------------------------------------------------------------------------------------------------------------------------------------ INTERESTED PERSONS - ------------------------------------------------------------------------------------------------------------------------------------ Martin L. Flanagan(1) -- 1960 2007 Executive Director, Chief Executive Officer and President, None Trustee Invesco Ltd. (ultimate parent of Invesco Aim and a global investment management firm); Chairman, Invesco Aim Advisors, Inc. (registered investment advisor); Trustee, The AIM Family of Funds(R); Vice Chairman, Investment Company Institute; and Member of Executive Board, SMU Cox School of Business Formerly: Director, Chairman, Chief Executive Officer and President, 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 Aim and a global investment management firm); Director, Invesco Ltd. and Chairman, Investment Company Institute - ------------------------------------------------------------------------------------------------------------------------------------ Philip A. Taylor(2) -- 1954 2006 Head of North American Retail and Senior Managing Director, None Trustee, President and Invesco Ltd.; Director, Chief Executive Officer and Principal Executive Officer President, Invesco Aim Advisors, Inc. and 1371 Preferred Inc. (holding company); Director, Chairman, Chief Executive Officer and President, Invesco Aim Management Group, Inc. (financial services holding company) and Invesco Aim Capital Management, Inc. (registered investment advisor); Director and President, INVESCO Funds Group, Inc. (registered investment advisor and registered transfer agent) and AIM GP Canada Inc. (general partner for limited partnerships); Director, Invesco Aim Distributors, Inc. (registered broker dealer); Director and Chairman, Invesco Aim Investment Services, Inc. (registered transfer agent) and INVESCO Distributors, Inc. (registered broker dealer); Director, President and Chairman, INVESCO Inc. (holding company) and Invesco Canada Holdings Inc. (holding company); Chief Executive Officer, AIM Trimark Corporate Class Inc. (corporate mutual fund company) and AIM Trimark Canada Fund Inc. (corporate mutual fund company); Director and Chief Executive Officer, Invesco Trimark Ltd./Invesco Trimark Ltee (registered investment advisor and registered transfer agent) and Invesco Trimark Dealer Inc. (registered broker dealer); Trustee, President and Principal Executive Officer, The AIM Family of Funds(R) (other than AIM Treasurer's Series Trust and Short-Term Investments Trust); Trustee and Executive Vice President, The AIM Family of Funds(R) (AIM Treasurer's Series Trust and Short-Term Investments Trust only); and Manager, Invesco PowerShares Capital Management LLC Formerly: President, Invesco Trimark Dealer Inc.; Director and President, AIM Trimark Corporate Class Inc. and AIM Trimark Canada Fund Inc.; Director and President, Invesco Trimark Ltd./Invesco Trimark Ltee; Senior Managing Director, Invesco Holding Company Limited; Trustee and Executive Vice President, Tax-Free Investments Trust; Director and Chairman, Fund Management Company (former registered broker dealer); President and Principal Executive Officer, The AIM Family of Funds(R) (AIM Treasurer's Series Trust, Short-Term Investments Trust and Tax-Free Investments Trust only); President, AIM Trimark Global Fund Inc. and AIM Trimark Canada Fund Inc. - ------------------------------------------------------------------------------------------------------------------------------------ INDEPENDENT TRUSTEES - ------------------------------------------------------------------------------------------------------------------------------------ Bruce L. Crockett -- 1944 2003 Chairman, Crockett Technology Associates (technology ACE Limited (insurance Trustee and Chair consulting company) company); Captaris, Inc. (unified messaging provider); and Investment Company Institute - ------------------------------------------------------------------------------------------------------------------------------------ Bob R. Baker -- 1936 1983 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Frank S. Bayley -- 1939 2003 Retired None Trustee Formerly: Director, Badgley Funds, Inc. (registered investment company) (2 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ James T. Bunch -- 1942 2000 Founder, Green, Manning & Bunch Ltd., (investment banking Board of Governors, Trustee firm) Western Golf Association/Evans Scholars Foundation and Executive Committee, United States Golf Association - ------------------------------------------------------------------------------------------------------------------------------------ Albert R. Dowden -- 1941 2003 Director of a number of public and private business Board of Nature's Trustee corporations, including the Boss Group Ltd. (private Sunshine Products, Inc. investment and management); Continental Energy Services, LLC (oil and gas pipeline service); Reich & Tang Funds (registered investment company), and Homeowners of America Holding Corporation/Homeowners of America Insurance Company (property casualty company) Formerly: Director, CompuDyne Corporation (provider of product and services to the public security market); Director, President and Chief Executive Officer, Volvo Group North America, Inc.; Director, Annuity and Life Re (Holdings), Ltd. (reinsurance company); Senior Vice President, AB Volvo; Director of various public and private corporations - ------------------------------------------------------------------------------------------------------------------------------------ Jack M. Fields -- 1952 2003 Chief Executive Officer, Twenty First Century Group, Inc. Administaff Trustee (government affairs company); and Owner and Chief Executive Officer, Dos Angelos Ranch, L.P. (cattle, hunting, corporate entertainment), Discovery Global Education Fund (non-profit) and Cross Timbers Quail Research Ranch (non-profit) Formerly: Chief Executive Officer, Texana Timber LP (sustainable forestry company) - ------------------------------------------------------------------------------------------------------------------------------------ Carl Frischling -- 1937 2003 Partner, law firm of Kramer Levin Naftalis and Frankel LLP Director, Reich & Tang Trustee Funds (16 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ Prema Mathai-Davis -- 1950 2003 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Lewis F. Pennock -- 1942 2003 Partner, law firm of Pennock & Cooper None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Larry Soll -- 1942 1997 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Raymond Stickel, Jr. -- 1944 2005 Retired None Trustee Formerly: Director, Mainstay VP Series Funds, Inc. (25 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ (1) Mr. Flanagan is considered an interested person of the Trust because he is an officer of the advisor to the Trust, and an officer and a director of Invesco Ltd., ultimate parent of the advisor to the Trust. (2) Mr. Taylor is considered an interested person of the Trust because he is an officer and a director of the advisor to, and a director of the principal underwriter of, the Trust. T-1
Trustees and Officers - (continued)
NAME, YEAR OF BIRTH AND TRUSTEE AND/ OTHER POSITION(S) HELD WITH THE OR OFFICER PRINCIPAL OCCUPATION(S) DIRECTORSHIP(S) TRUST SINCE DURING PAST 5 YEARS HELD BY TRUSTEE - ------------------------------------------------------------------------------------------------------------------------------------ OTHER OFFICERS - ------------------------------------------------------------------------------------------------------------------------------------ Karen Dunn Kelley -- 1960 2003 Head of Invesco's World Wide Fixed Income and Cash N/A Vice President Management Group; Vice President, Invesco Institutional (N.A.), Inc. (registered investment advisor); Director of Cash Management and Senior Vice President, Invesco Aim Advisors, Inc. and Invesco Aim Capital Management, Inc.; Executive Vice President, Invesco Aim Distributors, Inc.; Senior Vice President, Invesco Aim Management Group, Inc.; Vice President, Invesco Institutional (N.A.), Inc. (registered investment advisor); and Director, Invesco Mortgage Capital Inc.; President and Principal Executive Officer, The AIM Family of Funds(R) (AIM Treasurer's Series Trust and Short-Term Investments Trust only); and Vice President, The AIM Family of Funds(R) (other than AIM Treasurer's Series Trust and Short-Term Investments Trust) Formerly: President and Principal Executive Officer, Tax-Free Investments Trust; Director and President, Fund Management Company; Chief Cash Management Officer and Managing Director, Invesco Aim Capital Management, Inc.; and Vice President, Invesco Aim Advisors, Inc. and The AIM Family of Funds(R) (AIM Treasurer's Series Trust, Short-Term Investments Trust and Tax-Free Investments Trust only) - ------------------------------------------------------------------------------------------------------------------------------------ Russell C. Burk -- 1958 2005 Senior Vice President and Senior Officer of The AIM Family N/A Senior Vice President and of Funds(R) Senior Officer Formerly: Director of Compliance and Assistant General Counsel, ICON Advisers, Inc.; Financial Consultant, Merrill Lynch; General Counsel and Director of Compliance, ALPS Mutual Funds, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ John M. Zerr -- 1962 2006 Director, Senior Vice President, Secretary and General N/A Senior Vice President, Chief Counsel, Invesco Aim Management Group, Inc., Invesco Aim Legal Officer and Secretary Advisors, Inc. and Invesco Aim Capital Management, Inc.; Director, Senior Vice President and Secretary, Invesco Aim Distributors, Inc.; Director, Vice President and Secretary, Invesco Aim Investment Services, Inc. and INVESCO Distributors, Inc.; Director and Vice President, INVESCO Funds Group, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The AIM Family of Funds(R); and Manager, Invesco PowerShares Capital Management LLC Formerly: Director, Vice President and Secretary, Fund Management Company; Vice President, Invesco Aim Capital Management, Inc.; Chief Operating Officer and General Counsel, Liberty Ridge Capital, Inc. (an investment adviser); Vice President and Secretary, PBHG Funds (an investment company); Vice President and Secretary, PBHG Insurance Series Fund (an investment company); Chief Operating Officer, General Counsel and Secretary, Old Mutual Investment Partners (a broker-dealer); General Counsel and Secretary, Old Mutual Fund Services (an administrator); General Counsel and Secretary, Old Mutual Shareholder Services (a shareholder servicing center); Executive Vice President, General Counsel and Secretary, Old Mutual Capital, Inc. (an investment adviser); and Vice President and Secretary, Old Mutual Advisors Funds (an investment company) - ------------------------------------------------------------------------------------------------------------------------------------ Lisa O. Brinkley -- 1959 2004 Global Compliance Director, Invesco Ltd.; and Vice N/A Vice President President, The AIM Family of Funds(R) Formerly: Senior Vice President, Invesco Aim Management Group, Inc.; Senior Vice President and Chief Compliance Officer, Invesco Aim Advisors, Inc. and The AIM Family of Funds(R); Vice President and Chief Compliance Officer, Invesco Aim Capital Management, Inc. and Invesco Aim Distributors, Inc.; Vice President, Invesco Aim Investment Services, Inc. and Fund Management Company - ------------------------------------------------------------------------------------------------------------------------------------ Kevin M. Carome -- 1956 2003 General Counsel, Secretary and Senior Managing Director, N/A Vice President Invesco Ltd.; Director, Invesco Holding Company Limited and INVESCO Funds Group, Inc.; Director and Executive Vice President, IVZ, Inc., Invesco Group Services, Inc.,. Invesco North American Holdings, Inc. and Invesco Investments (Bermuda) Ltd.; and Vice President, The AIM Family of Funds(R) Formerly: Senior Managing Director and Secretary, Invesco North American Holdings, Inc.; Vice President and Secretary, IVZ, Inc. and Invesco Group Services, Inc.; Senior Managing Director and Secretary, Invesco Holding Company Limited; Director, Senior Vice President, Secretary and General Counsel, Invesco Aim Management Group, Inc. and Invesco Aim Advisors, Inc.; Senior Vice President, Invesco Aim Distributors, Inc.; Director, General Counsel and Vice President, Fund Management Company; Vice President, Invesco Aim Capital Management, Inc. and Invesco Aim Investment Services, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The AIM Family of Funds(R); Director and Vice President, INVESCO Distributors, Inc.; and Chief Executive Officer and President, INVESCO Funds Group, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Sheri Morris -- 1964 2003 Vice President, Treasurer and Principal Financial Officer, N/A Vice President, Treasurer and The AIM Family of Funds(R); and Vice President, Invesco Aim Principal Financial Officer Advisors, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management Inc. Formerly: Assistant Vice President and Assistant Treasurer, The AIM Family of Funds(R) and Assistant Vice President, Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Lance A. Rejsek -- 1967 2005 Anti-Money Laundering Compliance Officer, Invesco Aim N/A Anti-Money Laundering Advisors, Inc., Invesco Aim Capital Management, Inc., Compliance Officer Invesco Aim Distributors, Inc., Invesco Aim Investment Services, Inc., Invesco Aim Private Asset Management, Inc. and The AIM Family of Funds(R) Formerly: Anti-Money Laundering Compliance Officer, Fund Management Company; and Manager of the Fraud Prevention Department, Invesco Aim Investment Services, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Todd L. Spillane -- 1958 2006 Senior Vice President, Invesco Aim Management Group, Inc.; N/A Chief Compliance Officer Senior Vice President and Chief Compliance Officer, Invesco Aim Advisors, Inc. and Invesco Aim Capital Management, Inc.; Chief Compliance Officer, The AIM Family of Funds(R), Invesco Global Asset Management (N.A.), Inc. (registered investment advisor), Invesco Institutional (N.A.), Inc., (registered investment advisor), INVESCO Private Capital Investments, Inc. (holding company), Invesco Private Capital, Inc. (registered investment advisor) and Invesco Senior Secured Management, Inc. (registered investment advisor); and Vice President, Invesco Aim Distributors, Inc. and Invesco Aim Investment Services, Inc. Formerly: Vice President, Invesco Aim Capital Management, Inc. and Fund Management Company; and Global Head of Product Development, AIG-Global Investment Group, Inc. - ------------------------------------------------------------------------------------------------------------------------------------
The Statement of Additional Information of the Trust includes additional information about the Fund's Trustees and is available upon request, without charge, by calling 1.800.959.4246. Please refer to the Fund's prospectus for information on the Fund's sub-advisors. OFFICE OF THE FUND INVESTMENT ADVISOR DISTRIBUTOR AUDITORS 11 Greenway Plaza Invesco Aim Advisors, Inc. Invesco Aim Distributors, Inc. PricewaterhouseCoopers LLP Suite 100 11 Greenway Plaza 11 Greenway Plaza 1201 Louisiana Street Houston, TX 77046-1173 Suite 100 Suite 100 Suite 2900 Houston, TX 77046-1173 Houston, TX 77046-1173 Houston, TX 77002-5678 COUNSEL TO THE FUND COUNSEL TO THE TRANSFER AGENT CUSTODIAN Stradley Ronon Stevens & INDEPENDENT TRUSTEES Invesco Aim Investment Services, Inc. Bank of New York Mellon Young, LLP Kramer, Levin, Naftalis & Frankel LLP P.O. Box 4739 2 Hanson Place 2600 One Commerce Square 1177 Avenue of the Americas Houston, TX 77210-4739 Brooklyn, NY 11217-1431 Philadelphia, PA 19103 New York, NY 10036-2714 T-2
[GRAPHICH] - ------------------------------------------------------------------------------------------------------------------------------------ GO PAPERLESS WITH EDELIVERY Visit invescoaim.com/edelivery to receive quarterly statements, tax forms, fund reports and prospectuses with a service that's all about eeees: - - ENVIRONMENTALLY FRIENDLY. Go green by reducing the number of - EFFICIENT. Stop waiting for regular mail. Your documents trees used to produce paper. will be sent via email as soon as they're available. - - ECONOMICAL. Help reduce your fund's printing and delivery - EASY. Download, save and print files using your home expenses and put more capital back in your fund's returns. computer with a few clicks of your mouse. This service is provided by Invesco Aim Investment Services, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ IMPORTANT NOTICE REGARDING DELIVERY OF SECURITY HOLDER DOCUMENTS To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Aim Investment Services, Inc. at 800 959 4246 or contact your financial institution. We will begin sending you individual copies for each account within thirty days after receiving your request. - ------------------------------------------------------------------------------------------------------------------------------------ FUND HOLDINGS AND PROXY VOTING INFORMATION The Fund provides a complete list of its holdings four times in each fiscal year, at quarter-ends. For the second and fourth quarters, the list appears in the Fund's semiannual and annual reports to shareholders. For the first and third quarters, the Fund files the lists with the Securities and Exchange Commission (SEC) on Form N-Q. The most recent list of portfolio holdings is available at invescoaim.com. From our home page, click on "Products & Performance," then "Mutual Funds," and then "Fund Overview." Select your Fund from the drop-down menu and click on "Complete Quarterly Holdings." Shareholders can also look up the Fund's Form N-Q filings on the SEC website, sec.gov. The Fund's Forms N-Q may be reviewed and copied at the SEC Public Reference Room in Washington, D.C. You can obtain information on the operation of the Public Reference Room, including information about duplicating fee charges, by calling 202 942 8090 or 800 732 0330, or by electronic request at the following email address: publicinfo@sec.gov. The SEC file numbers for the Fund are 811-05460 and 033-19862. A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, from our Client Services department at 800 959 4246 or on the Invesco Aim website, invescoaim.com. On the home page, scroll down and click on "Proxy Policy." The information is also available on the SEC website, sec.gov. Information regarding how the Fund voted proxies related to its portfolio securities during the 12 months ended June 30, 2009, is available at our website. Go to invescoaim.com, access the "About Us" tab, click on "Required Notices" and then click on "Proxy Voting Activity." Next, select the Fund from the drop-down menu. This information is also available on the SEC website, sec.gov. If used after January 20, 2010, this report must be accompanied by a Fund fact sheet or Invesco Aim Quarterly Performance Review for the most recent quarter-end. Invesco Aim service mark is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc., Invesco Aim Private Asset Management, Inc. and Invesco PowerShares Capital Management LLC are the investment advisors for the products and services represented by Invesco Aim; they each provide investment advisory services to individual and institutional clients and do not sell securities. Please refer to each fund's prospectus for information on the fund's subadvisors. Invesco Aim Distributors, Inc. is the U.S. distributor for the retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for the STIC Global Funds represented by Invesco Aim. All entities are indirect, wholly owned subsidiaries of Invesco Ltd. It is anticipated that on or about the end of the fourth quarter of 2009, Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc., Invesco Aim Private Asset Management, Inc. and Invesco Global Asset [INVESCO AIM LOGO] Management (N.A.), Inc. will be merged into Invesco Institutional (N.A.), Inc., and the consolidated adviser -- SERVICE MARK -- firm will be renamed Invesco Advisers, Inc. Additional information will be posted at invescoaim.com on or about the end of the fourth quarter of 2009. invescoaim.com CM-TST-AR-1 Invesco Aim Distributors, Inc.
[INVESCO AIM LOGO] INSTITUTIONAL CLASS - service mark - AIM TREASURER'S SERIES TRUST (ATST) Premier Portfolio Premier U.S. Government Money Portfolio Premier Tax-Exempt Portfolio Annual Report to Shareholders o August 31, 2009 [GRAPHIC] 2 Letters to Shareholders 4 Fund Data 4 Fund Composition by Maturity 5 Fund Objectives and Strategies 6 Schedules of Investments 22 Financial Statements 24 Notes to Financial Statements 30 Financial Highlights 31 Auditor's Report 32 Fund Expenses 33 Approval of Investment Advisory and Sub-Advisory Agreements 37 Tax Information T-1 Trustees and Officers Unless otherwise stated, information presented in this report is as of August 31, 2009, and is based on total net assets. Unless otherwise stated, all data provided by Invesco Aim. NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GURANATEE
Dear Fellow Shareholders: I am pleased to provide you with this annual report on the performance of the Institutional Class of AIM Treasurer's Series Trust, part of Invesco Aim Global Cash Management, for the fiscal year ended August 31, 2009. Thank you for investing with us. [KELLEY PHOTO] Through a combination of short-term cash management vehicles and selective use of a longer maturity schedule for enhanced yields, each Fund continued to provide competitive returns and maintain a relatively short maturity structure. MARKET CONDITIONS AFFECTING MONEY MARKET FUNDS Karen Dunn Kelley The year covered by this report was difficult -- for investors and investment professionals alike. The 12 months ended August 31, 2009, included a sharp market sell-off in the final few months of 2008. The decline had a number of causes, the most immediate being unprecedented turmoil in credit markets. Economic uncertainty prompted banks to hoard cash and reduce lending, and caused investors to shun short-term corporate debt. As a result, businesses found it difficult to fund their day-to-day operations, and the U.S. economy -- as well as economies around the globe -- virtually froze briefly. The U.S. economy contracted significantly throughout the year. Gross domestic product (GDP), the broadest measure of overall economic activity, contracted at annualized rates of 2.7%, 5.4% and 6.4% in the third and fourth quarters of 2008 and the first quarter of 2009, respectively.(1) Initial estimates suggested U.S. GDP shrank at an annualized rate of 1.0% in the second quarter of 2009.(1) This economic contraction caused a sharp increase in unemployment. The national unemployment rate rose from 6.2% in August 2008 to 9.4% in July 2009.(2) The housing market remained weak. Sales of new and existing homes continued their multi-year decline; housing starts fell; and home values nationally declined. Lower home values caused some homeowners to feel less wealthy. These trends -- together with tighter credit -- prompted consumers to reduce their spending, particularly on large, discretionary items. Consumer spending, which accounts for more than two-thirds of the U.S. economy(3), was sluggish during the year. In his semiannual monetary policy report to Congress in late July, U.S. Federal Reserve Board (the Fed) Chairman Ben Bernanke summarized the stresses and strains the U.S. and global economies suffered in late 2008 and early 2009. Importantly, he suggested that the aggressive, coordinated actions taken by governments and central banks around the world finally may be yielding results. He testified that: o The pace of overall economic decline appears to have slowed significantly. o Credit availability, for consumers and businesses, has improved noticeably. o Investors' extreme risk aversion has eased somewhat. o The decline in housing activity appears to have moderated. While these and other trends offer encouragement, uncertainties remain. Chairman Bernanke testified that he anticipates a gradual recovery in 2010 with some acceleration in economic growth in 2011, together with subdued inflation over the next two years. At the start of the fiscal year, three-month Treasury bills yielded 1.71% and 30-year Treasury bonds yielded 4.41%.(4) By August 31, 2009, yields on both had declined, with three-month Treasuries yielding just 0.15% and 30-year Treasuries yielding 4.18%.(4) The sharp decline in short-term yields was due chiefly to the Fed's unprecedented monetary easing and investor preference for relatively safe, liquid and short-term investments during a period of economic uncertainty. Because money market funds invest in such securities, the yield you earned on your investment in the Fund declined during the fiscal year. STRENGTH AND EXPERIENCE Invesco Aim Global Cash Management's 30-year tradition of providing high-quality products, a disciplined investment process, advanced credit research, innovative technology and responsive client service is why we are, today, a leader in the cash management industry, with $96.4 billion in assets under management as of August 31, 2009. While we rely on a specialized team of investment professionals who are experienced in managing and distributing short-term investment products worldwide, we also benefit from being part of Invesco -- one of the world's largest(5) and most diversified global investment management firms. Such strength and experience is particularly valuable during periods of uncertainty and market tumult, such as we experienced this year. Regardless of market conditions, our experienced investment team is dedicated to helping our clients achieve their short-term cash management needs. We are also dedicated to providing excellent customer service. If you have questions about this report or your account, please contact one of our cash management representatives at 800 659 1005. Thank you for investing with us. All of us at Invesco Aim Global Cash Management look forward to serving you. Sincerely, /s/ KAREN DUNN KELLEY Karen Dunn Kelley CEO, Invesco Worldwide Fixed Income (1) Bureau of Economic Analysis; (2) Bureau of Labor Statistics; (3) Reuters; (4) Barclays Capital; (5) Pensions & Investments The views and opinions expressed in this letter are those of Invesco Aim Advisors, Inc. These views and opinions are subject to change at any time based on factors such as market and economic conditions. These views and opinions may not be relied upon as investment advice or recommendations, or as an offer for a particular security. Statements of fact are from sources considered reliable, but Invesco Aim Advisors, Inc. makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy. 2 AIM TREASURER'S SERIES TRUST
Dear Fellow Shareholders: [CROCKETT Even as the economy shows some positive momentum toward recovery, please be assured that your PHOTO] Board of Trustees continues to oversee the management of the AIM Funds with careful attention to expenses and performance. At its June meeting, your Board reviewed and renewed for another year the investment Bruce Crockett advisory contracts between the AIM Funds and Invesco Aim Advisors, Inc. Again this year, the decision resulted from a year-long process during which your Board, working in sub-committees, reviewed the performance, fees and expenses of each AIM Fund in absolute terms and relative to industry averages and other products advised by Invesco Aim Advisors and its affiliated sub-advisers. The independent Trustees met and voted separately, receiving independent advice from independent legal counsel and assistance from the independent Senior Officer, who reports directly to the independent Trustees. Exercising our fiduciary responsibility on your behalf, we have again taken care to ensure that these agreements put shareholder interests first. You can find details on the results of both the 2008 and 2009 investment advisory and sub-advisory agreement renewal process at invescoaim.com. Go to "Products & Performance" and click on "Investment Advisory Agreement Renewals." The investment strategies of the AIM money market funds have again been tested and proven through the recent economic crisis. Committed to delivering safety, liquidity and yield according to their respective investment objectives, the AIM money market funds consistently follow a conservative approach. Statements that were true six months ago, in my last semi-annual letter, remain true as of this writing: o All portfolios have maintained $1.00 NAV at all times in all of our money market funds; o All redemption requests were made without interruption in all of our money market funds; o Invesco Aim did not have to purchase any securities out of any money market fund; o Invesco Aim did not have to provide any form of capital support to any money market fund; and o No securities experienced downgrades below Tier 1 quality in any money market fund. Please be assured that your Board continues to oversee the AIM Funds with a strong sense of responsibility for your assets and your trust. I would be happy to hear your comments, questions, or concerns. My address for email is bruce@brucecrockett.com. Sincerely, /s/ BRUCE L. CROCKETT Bruce L. Crockett Independent Chair AIM Funds Board of Trustees 3 AIM TREASURER'S SERIES TRUST
- ------------------------------------------------------------------------------------------------------------------------------------ FUND DATA - ------------------------------------------------------------------------------------------------------------------------------------ INSTITUTIONAL CLASS DATA AS OF 8/31/09 - ------------------------------------------------------------------------------------------------------------------------------------ FUND YIELDS WEIGHTED AVERAGE MATURITY TOTAL NET ASSETS 7-DAY SEC YIELDS HAD FEES NOT BEEN WAIVED AND/OR RANGE DURING AT FISCAL 7-DAY EXPENSES NOT MONTHLY FISCAL YEAR SEC YIELDS BEEN REIMBURSED YIELDS YEAR END Premier 0.24% 0.21% 0.25% 21 - 59 days 42 days $ 3.9 billion Premier U.S. Government Money 0.16 0.13 0.18 17 - 58 days 37 days 1.6 billion Premier Tax-Exempt 0.31 N/A 0.32 15 - 30 days 30 days 347.0 million Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Please visit invescoaim.com for the most recent month-end performance. Investment return will vary. Had the advisor not waived certain fees and/or reimbursed certain expenses for Premier and Premier U.S. Government Money, performance would have been lower. Monthly yields represent annualized results for the month, net of fees and expenses, and exclude any realized capital gains or losses. - ------------------------------------------------------------------------------------------------------------------------------------ FUND COMPOSITION BY MATURITY - ---------------------------------------------------------------------------- IN DAYS, AS OF 8/31/09 - ---------------------------------------------------------------------------- PREMIER PREMIER PREMIER U.S. GOVERNMENT TAX-EXEMPT PORTFOLIO(1, 2) MONEY PORTFOLIO(3) PORTFOLIO(4) 1-7 15.6% 50.6% 84.9% 8-30 34.7 15.3 0.5 31-90 36.7 21.0 6.1 91-180 13.0 9.0 2.2 181+ -- 4.1 6.3 The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. (1) The Fund may invest up to 50% of its assets in U.S. dollar-denominated foreign securities. The Fund may also invest in securities, whether or not considered foreign securities, which carry foreign credit exposure. The risks of investing in foreign securities and securities which carry foreign credit exposure include decreased publicly available information about issuers, inconsistent accounting, auditing and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers, expropriation, nationalization or other adverse political or economic developments and the difficulty of enforcing obligations in other countries. Investments in foreign securities may also be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions. (2) Treasury securities are guaranteed as to timely payment of principal and interest if held to maturity. Many securities purchased by the Fund are not guaranteed by the U.S. government. (3) The Fund may invest in obligations issued by agencies and instrumentalities of the U.S. government that may vary in the level of support they receive from the U.S. government. The U.S. government may choose not to provide financial support to U.S. government-sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the fund holding securities of such issuer might not be able to recover its investment from the U.S. government. (4) The Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, and the Fund's performance will depend to a great extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industries can be sensitive to changes in government regulation and interest rates and to economic downturns in the U.S. and abroad. 4 AIM TREASURER'S SERIES TRUST
- ------------------------------------------------------------------------------------------------------------------------------------ FUND OBJECTIVES AND STRATEGIES PREMIER PORTFOLIO PREMIER TAX-EXEMPT PORTFOLIO Premier Portfolio seeks to provide a high level of current Premier Tax-Exempt Portfolio seeks to provide a high level of income, consistent with the preservation of capital and current income, consistent with the preservation of capital and maintenance of liquidity. maintenance of liquidity. The Fund invests in short-term money market instruments that The Fund invests in high quality, short-term municipal blend top-tier, high quality U.S. dollar-denominated obligations, seeking to provide income exempt from federal obligations, which include commercial paper, certificates of taxation. The Fund structure is driven to some extent by the deposit, master and promissory notes, municipal securities and supply and availability of municipal securities. Liquidity is repurchase agreements. managed with daily and weekly variable rate demand notes. The Fund continues to hold the highest credit quality rating (Aaa) given by Moody's, a widely known credit rating agency. Fund ratings are subject to change and are based on several factors, including an analysis of a fund's overall credit quality, market price exposure and management. PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Premier U.S. Government Money Portfolio seeks to provide a high level of current income, consistent with the preservation of capital and maintenance of liquidity. The Fund invests primarily in debt securities issued or guaranteed by the U.S. government or its agencies and securities such as repurchase agreements and variable rate or floating rate debt obligations. The Fund continues to hold the highest credit quality rating (Aaa) given by Moody's, a widely known credit rating agency. Fund ratings are subject to change and are based on several factors, including an analysis of a fund's overall credit quality, market price exposure and management. AN INVESTMENT IN THE FUND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY AND IS NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, A DEPOSITORY INSTITUTION. ALTHOUGH THE FUND SEEKS TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THE FUND. THIS REPORT MUST BE ACCOMPANIED OR PRECEDED BY A CURRENTLY EFFECTIVE FUND PROSPECTUS, WHICH CONTAINS MORE COMPLETE INFORMATION, INCLUDING FEES AND EXPENSES. READ IT CAREFULLY BEFORE YOU INVEST OR SEND MONEY. INVESCO AIM GLOBAL CASH MANAGEMENT IS A BRAND NAME ENCOMPASSING PRODUCTS AND SERVICES PROVIDED BY ONE OR MORE SUBSIDIARIES OF INVESCO LTD. 5 AIM TREASURER'S SERIES TRUST
SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- COMMERCIAL PAPER-70.56%(a) ASSET-BACKED SECURITIES-COMMERCIAL LOANS/LEASES-7.36% Amstel Funding Corp.(b)(c) 2.00% 10/09/09 $ 50,000 $ 49,894,445 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.30% 10/15/09 34,000 33,987,533 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.30% 10/28/09 50,000 49,976,250 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.40% 02/09/10 75,000 74,865,833 - ----------------------------------------------------------------------------------------------------------- Atlantis One Funding Corp.(b)(c) 0.40% 02/16/10 40,000 39,925,333 - ----------------------------------------------------------------------------------------------------------- Edison Asset Securitization, LLC(b) 0.43% 12/30/09 50,000 49,928,334 =========================================================================================================== 298,577,728 =========================================================================================================== ASSET-BACKED SECURITIES-CONSUMER RECEIVABLES-8.09% Amsterdam Funding Corp.(b) 0.33% 09/04/09 50,000 49,998,625 - ----------------------------------------------------------------------------------------------------------- Amsterdam Funding Corp.(b) 0.30% 09/11/09 69,310 69,304,224 - ----------------------------------------------------------------------------------------------------------- Barton Capital LLC(b) 0.24% 09/08/09 90,000 89,995,800 - ----------------------------------------------------------------------------------------------------------- Park Avenue Receivables Co., LLC(b) 0.30% 10/19/09 50,000 49,980,000 - ----------------------------------------------------------------------------------------------------------- Sheffield Receivables Corp.(b) 0.21% 09/18/09 49,000 48,995,141 - ----------------------------------------------------------------------------------------------------------- Sheffield Receivables Corp.(b) 0.26% 10/16/09 20,000 19,993,500 =========================================================================================================== 328,267,290 =========================================================================================================== ASSET-BACKED SECURITIES-FULLY BACKED-3.20% Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.28% 09/18/09 30,000 29,996,033 - ----------------------------------------------------------------------------------------------------------- Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.36% 10/05/09 50,051 50,033,983 - ----------------------------------------------------------------------------------------------------------- Straight-A Funding LLC-Series 1, (CEP-Federal Financing Bank)(b) 0.33% 10/19/09 50,000 49,978,000 =========================================================================================================== 130,008,016 =========================================================================================================== ASSET-BACKED SECURITIES-FULLY SUPPORTED BANK-15.29% Concord Minutemen Capital Co., LLC-Series A, (Multi CEP's-Liberty Hampshire Co., LLC; agent) 0.50% 10/27/09 105,000 104,918,333 - ----------------------------------------------------------------------------------------------------------- Crown Point Capital Co., LLC-Series A, (Multi CEP's-Liberty Hampshire Co., LLC; agent)(b) 0.60% 09/04/09 90,000 89,995,500 - ----------------------------------------------------------------------------------------------------------- Grampian Funding Ltd./LLC (CEP-Lloyds TSB Bank PLC)(b)(c) 0.45% 09/21/09 60,000 59,985,000 - ----------------------------------------------------------------------------------------------------------- Grampian Funding Ltd./LLC (CEP-Lloyds TSB Bank PLC)(b)(c) 0.43% 10/02/09 30,000 29,988,892 - ----------------------------------------------------------------------------------------------------------- Matchpoint Master Trust-Series A, (CEP-BNP Paribas)(b)(c) 0.24% 09/16/09 49,000 48,995,100 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.25% 09/10/09 25,000 24,998,438 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.25% 09/17/09 42,000 41,995,333 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.35% 10/16/09 55,900 55,875,544 - ----------------------------------------------------------------------------------------------------------- Surrey Funding Corp. (CEP-Barclays Bank PLC)(b)(c) 0.33% 10/23/09 50,000 49,976,167 - ----------------------------------------------------------------------------------------------------------- Variable Funding Capital Co., LLC (CEP-Wells Fargo Bank, N.A.)(b) 0.28% 10/26/09 50,000 49,978,611 - ----------------------------------------------------------------------------------------------------------- Variable Funding Capital Co., LLC (CEP-Wells Fargo Bank, N.A.)(b) 0.25% 11/24/09 63,644 63,606,874 =========================================================================================================== 620,313,792 =========================================================================================================== ASSET-BACKED SECURITIES-MULTI-PURPOSE-9.61% Chariot Funding LLC/Ltd.(b) 0.28% 09/08/09 50,000 49,997,278 - ----------------------------------------------------------------------------------------------------------- Falcon Asset Securitization Corp.(b) 0.18% 09/02/09 31,003 31,002,845 - ----------------------------------------------------------------------------------------------------------- Gemini Securitization Corp., LLC(b) 0.23% 09/16/09 75,000 74,992,812 - ----------------------------------------------------------------------------------------------------------- Gemini Securitization Corp., LLC(b) 0.19% 09/17/09 50,000 49,995,778 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 6 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- ASSET-BACKED SECURITIES-MULTI-PURPOSE-(CONTINUED) Gemini Securitization Corp., LLC(b) 0.32% 10/05/09 $ 50,046 $ 50,030,875 - ----------------------------------------------------------------------------------------------------------- Mont Blanc Capital Corp.(b)(c) 0.25% 09/14/09 84,000 83,992,417 - ----------------------------------------------------------------------------------------------------------- Yorktown Capital LLC(b) 0.27% 10/09/09 50,000 49,985,750 =========================================================================================================== 389,997,755 =========================================================================================================== ASSET-BACKED SECURITIES-SECURITIES-9.10% Aspen Funding Corp.(b) 0.35% 10/13/09 50,051 50,030,562 - ----------------------------------------------------------------------------------------------------------- Aspen Funding Corp.(b) 0.35% 10/15/09 75,000 74,967,917 - ----------------------------------------------------------------------------------------------------------- Cancara Asset Securitisation Ltd./LLC(b)(c) 0.57% 10/13/09 75,000 74,950,125 - ----------------------------------------------------------------------------------------------------------- Cancara Asset Securitisation Ltd./LLC(b)(c) 0.37% 10/20/09 30,000 29,984,892 - ----------------------------------------------------------------------------------------------------------- Newport Funding Corp.(b) 0.26% 09/16/09 80,000 79,991,333 - ----------------------------------------------------------------------------------------------------------- Newport Funding Corp.(b) 0.36% 09/16/09 59,086 59,077,137 =========================================================================================================== 369,001,966 =========================================================================================================== DIVERSIFIED BANKS-13.77% Banco Bilbao Vizcaya Argentaria, S.A.(b)(c) 1.21% 10/14/09 124,000 123,820,786 - ----------------------------------------------------------------------------------------------------------- Banco Bilbao Vizcaya Argentaria, S.A.(b)(c) 0.43% 01/15/10 45,000 44,926,900 - ----------------------------------------------------------------------------------------------------------- Bank of America Corp. 0.21% 09/09/09 50,000 49,997,667 - ----------------------------------------------------------------------------------------------------------- Calyon North America Inc.(c) 1.50% 09/16/09 40,000 39,975,000 - ----------------------------------------------------------------------------------------------------------- ING (US) Funding LLC(b)(c) 0.22% 09/17/09 50,000 49,995,222 - ----------------------------------------------------------------------------------------------------------- Santander Central Hispano Finance (Delaware) Inc.(c) 0.51% 11/18/09 75,000 74,917,125 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.33% 09/16/09 75,000 74,989,687 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.34% 11/24/09 75,000 74,940,500 - ----------------------------------------------------------------------------------------------------------- Societe Generale North America, Inc.(c) 0.35% 01/25/10 25,000 24,965,021 =========================================================================================================== 558,527,908 =========================================================================================================== REGIONAL BANKS-4.14% Banque et Caisse d'Epargne de l'Etat(b)(c) 0.29% 12/09/09 25,000 24,980,063 - ----------------------------------------------------------------------------------------------------------- Commonwealth Bank of Australia (United Kingdom)(b)(c) 0.31% 12/01/09 50,000 50,001,263 - ----------------------------------------------------------------------------------------------------------- Westpac Banking Corp.(b)(c) 0.37% 02/12/10 43,000 42,927,521 - ----------------------------------------------------------------------------------------------------------- Westpac Banking Corp.(b)(c) 0.40% 02/17/10 50,000 49,906,111 =========================================================================================================== 167,814,958 =========================================================================================================== Total Commercial Paper (Cost $2,862,509,413) 2,862,509,413 =========================================================================================================== CERTIFICATES OF DEPOSIT-16.77% Banco Bilbao Vizcaya Argentaria, S.A. 1.23% 09/21/09 25,000 25,000,138 - ----------------------------------------------------------------------------------------------------------- BNP Paribas 1.23% 09/28/09 50,000 50,000,373 - ----------------------------------------------------------------------------------------------------------- Calyon 0.65% 02/01/10 50,000 50,010,543 - ----------------------------------------------------------------------------------------------------------- Lloyds TSB Bank PLC 0.26% 10/20/09 50,000 50,000,680 - ----------------------------------------------------------------------------------------------------------- Nordea Bank A.B. 0.21% 09/21/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Rabobank Nederland 0.95% 10/14/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Rabobank Nederland(d) 0.74% 03/12/10 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Royal Bank of Canada(d) 0.82% 12/16/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Royal Bank of Scotland PLC 0.32% 10/05/09 100,000 100,000,000 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 0.95% 09/30/09 75,000 75,000,601 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 7 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.00% 09/30/09 $ 30,000 $ 30,000,000 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.90% 10/02/09 25,000 25,000,212 - ----------------------------------------------------------------------------------------------------------- Toronto-Dominion Bank 1.40% 12/11/09 75,000 75,000,000 =========================================================================================================== Total Certificates of Deposit (Cost $680,012,547) 680,012,547 =========================================================================================================== MEDIUM-TERM NOTES-2.96% Barclays Bank PLC(c) 0.64% 09/21/09 20,000 20,002,221 - ----------------------------------------------------------------------------------------------------------- ING Bank N.V., Sr. Unsec. Floating Rate MTN(b)(c)(d) 0.92% 09/16/09 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Wells Fargo Bank, N.A., Sr. Unsec. Floating Rate MTN(d) 0.78% 09/08/09 50,000 50,000,000 =========================================================================================================== Total Medium-Term Notes (Cost $120,002,221) 120,002,221 =========================================================================================================== U.S. GOVERNMENT SPONSORED AGENCY SECURITIES-1.23% FEDERAL HOME LOAN BANK (FHLB)-1.23% Unsec. Floating Rate Bonds(d) (Cost $50,000,000) 0.30% 05/21/10 50,000 50,000,000 =========================================================================================================== VARIABLE RATE DEMAND NOTES-0.39%(e) LETTER OF CREDIT ENHANCED-0.39%(f) Atlanticare Health Services, Inc.; Series 2003, VRD Taxable Bonds (LOC-Well Fargo Bank, N.A.) (Cost $15,875,000) 0.40% 10/01/33 15,875 15,875,000 =========================================================================================================== TOTAL INVESTMENTS (excluding Repurchase Agreements)-91.91% (Cost $3,728,399,181) 3,728,399,181 =========================================================================================================== REPURCHASE AMOUNT REPURCHASE AGREEMENTS-8.05%(g) Banc of America Securities LLC, Joint agreement dated 08/31/09, aggregate maturing value $250,002,083 (collateralized by U.S. Government sponsored agency and Corporate obligations valued at $262,500,000; 0%-5.94%, 09/01/12-09/20/56) 0.30% 09/01/09 106,824,538 106,823,648 - ----------------------------------------------------------------------------------------------------------- BNP Paribas, Agreement dated 08/31/09, maturing value $100,000,917 (collateralized by a Corporate obligation valued at $105,000,000; 6.63%-10.50%, 07/15/11-12/15/11)(c) 0.33% 09/01/09 100,000,917 100,000,000 - ----------------------------------------------------------------------------------------------------------- HSBC Securities (USA) Inc., Joint agreement dated 08/31/09, aggregate maturing value $1,250,007,639 (collateralized by U.S. Government sponsored agency obligations valued at $1,275,000,040; 0%-10.70%, 10/09/09-07/15/32) 0.22% 09/01/09 119,937,844 119,937,111 =========================================================================================================== Total Repurchase Agreements (Cost $326,760,759) 326,760,759 =========================================================================================================== TOTAL INVESTMENTS-99.96% (Cost $4,055,159,940)(h)(i) 4,055,159,940 =========================================================================================================== OTHER ASSETS LESS LIABILITIES-0.04% 1,578,073 =========================================================================================================== NET ASSETS-100.00% $4,056,738,013 ___________________________________________________________________________________________________________ ===========================================================================================================
Investment Abbreviations: CEP - Credit Enhancement Provider LOC - Letter of Credit MTN - Medium-Term Notes Sr. - Senior Unsec. - Unsecured VRD - Variable Rate Demand
Notes to Schedule of Investments: (a) Security may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. (b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2009 was $2,467,806,080, which represented 60.83% of the Fund's Net Assets. (c) The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: United Kingdom: 10.8%; Netherlands: 10.7%; France: 9%; Spain: 6%; other countries less than 5% each: 2.9%. (d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 8 AIM TREASURER'S SERIES TRUST PREMIER PORTFOLIO (e) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. (g) Principal amount equals value at period end. See Note 1J. (h) Also represents cost for federal income tax purposes. (i) This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations.
ENTITY PERCENTAGE --------------------------------------------------------------------------------------------- Toronto-Dominion Bank 5.1% _____________________________________________________________________________________________ =============================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 9 AIM TREASURER'S SERIES TRUST SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SPONSORED AGENCY SECURITIES-62.00% FEDERAL FARM CREDIT BANK (FFCB)-6.41% Disc. Notes(a) 0.50% 03/30/10 $ 10,000 $ 9,970,833 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 1.25% 11/12/09 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.32% 12/21/09 10,000 9,958,106 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.64% 12/21/09 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Floating Rate Bonds(b) 0.17% 12/28/09 35,000 34,963,217 =========================================================================================================== 104,892,156 =========================================================================================================== FEDERAL HOME LOAN BANK (FHLB)-22.66% Unsec. Bonds 5.25% 09/11/09 17,600 17,622,560 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.45% 11/24/09 16,200 16,200,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.50% 02/08/10 15,000 14,996,652 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.31% 02/22/10 10,000 9,998,712 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.92% 04/09/10 10,000 10,024,703 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.55% 06/03/10 10,000 10,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Bonds 0.55% 06/10/10 25,000 24,977,208 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.64% 10/07/09 15,000 14,990,400 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.55% 10/09/09 5,000 4,997,097 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.35% 10/16/09 25,000 24,989,063 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.53% 12/07/09 10,000 9,985,719 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.31% 01/22/10 10,000 9,987,686 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.26% 02/12/10 20,000 19,976,311 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.48% 05/05/10 5,164 5,147,062 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.65% 09/10/09 17,050 17,052,052 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.44% 10/13/09 10,000 10,005,379 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.55% 11/18/09 10,000 10,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.50% 01/19/10 20,000 20,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.64% 02/04/10 50,000 50,000,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Bonds(b) 0.78% 02/26/10 25,000 24,998,391 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Bonds(b) 0.18% 12/23/09 30,000 29,988,719 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Bonds(b) 0.18% 12/28/09 15,000 14,998,593 =========================================================================================================== 370,936,307 =========================================================================================================== FEDERAL HOME LOAN MORTGAGE CORP. (FHLMC)-17.65% Unsec. Disc. Notes(a) 0.41% 09/08/09 20,050 20,048,402 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.70% 09/14/09 5,000 4,998,736 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.70% 09/21/09 5,428 5,425,889 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.22% 10/01/09 25,000 24,995,313 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.25% 10/05/09 20,000 19,995,278 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.27% 10/13/09 20,000 19,993,700 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.25% 10/19/09 10,000 9,996,667 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.26% 10/20/09 27,112 27,102,405 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 10 AIM TREASURER'S SERIES TRUST PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ----------------------------------------------------------------------------------------------------------- FEDERAL HOME LOAN MORTGAGE CORP. (FHLMC)-(CONTINUED) Unsec. Disc. Notes(a) 0.53% 11/09/09 $ 23,500 $ 23,476,128 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.28% 01/25/10 7,700 7,691,256 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.42% 02/08/10 10,000 9,981,333 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.43% 05/17/10 7,000 6,978,178 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.19% 09/28/09 11,000 10,999,479 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.20% 10/08/09 10,000 9,998,705 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.21% 10/19/09 10,000 9,999,902 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.17% 12/16/09 25,000 24,973,234 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate MTN(b) 0.32% 02/09/10 25,000 25,000,000 - ----------------------------------------------------------------------------------------------------------- Series M006, Class A, Taxable Multi-Family VRD Ctfs.(c) 1.60% 10/15/45 27,282 27,281,656 =========================================================================================================== 288,936,261 =========================================================================================================== FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)-15.10% Sr. Unsec. Global Notes 3.25% 02/10/10 9,100 9,213,782 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.40% 09/01/09 16,300 16,300,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 3.20% 10/07/09 5,000 4,984,000 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.35% 10/21/09 25,000 24,987,847 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.30% 11/16/09 16,854 16,843,326 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 1.00% 12/03/09 10,000 9,974,167 - ----------------------------------------------------------------------------------------------------------- Unsec. Disc. Notes(a) 0.28% 02/03/10 5,000 4,993,864 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Global Notes(b) 0.40% 07/13/10 40,000 39,988,091 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.39% 10/07/09 35,000 34,999,650 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.45% 10/16/09 75,000 75,015,377 - ----------------------------------------------------------------------------------------------------------- Unsec. Floating Rate Notes(b) 0.60% 10/27/09 10,000 10,000,000 =========================================================================================================== 247,300,104 =========================================================================================================== OVERSEAS PRIVATE INVESTMENT CORP.-0.18% Gtd. Bonds 0.23% 03/15/19 3,000 3,000,000 =========================================================================================================== Total U.S. Government Sponsored Agency Securities (Cost $1,015,064,828) 1,015,064,828 =========================================================================================================== U.S. TREASURY BILLS-3.36%(a) U.S. Treasury Bills 0.31% 11/05/09 5,000 4,997,201 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.30% 11/12/09 10,000 9,993,900 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.26% 12/03/09 25,000 24,983,531 - ----------------------------------------------------------------------------------------------------------- U.S. Treasury Bills 0.30% 12/10/09 15,000 14,987,292 =========================================================================================================== Total U.S. Treasury Bills (Cost $54,961,924) 54,961,924 =========================================================================================================== TOTAL INVESTMENTS (excluding Repurchase Agreements)-65.36% (Cost $1,070,026,752) 1,070,026,752 =========================================================================================================== REPURCHASE AMOUNT REPURCHASE AGREEMENTS-34.60%(d) BNP Paribas Securities Corp., Term joint agreement dated 08/18/09, aggregate maturing value $300,172,500 (collateralized by U.S. Government sponsored agency obligations valued at $306,000,883; 0%-7.63%, 09/11/09- 06/15/38) 0.23% 11/16/09 50,028,750 50,000,000 - ----------------------------------------------------------------------------------------------------------- Credit Suisse Securities (USA) LLC, Term joint agreement dated 08/10/09, aggregate maturing value $500,088,889 (collateralized by U.S. Government sponsored agency obligations valued at $510,002,219; 0%-9.00%, 09/01/09- 06/14/10) 0.20% 09/11/09 50,008,889 50,000,000 - -----------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 11 AIM TREASURER'S SERIES TRUST PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
INTEREST MATURITY REPURCHASE RATE DATE AMOUNT VALUE - ----------------------------------------------------------------------------------------------------------- HSBC Securities (USA) Inc., Joint agreement dated 08/31/09, aggregate maturing value $1,250,007,639 (collateralized by U.S. Government sponsored agency obligations valued at $1,275,000,040; 0%-10.70%, 10/09/09-07/15/32) 0.22% 09/01/09 $191,347,383 $ 191,346,214 - ----------------------------------------------------------------------------------------------------------- RBC Capital Markets Corp., Joint agreement dated 08/31/09, aggregate maturing value $500,003,056 (collateralized by U.S. Government sponsored agency obligations valued at $510,000,167; 0%-8.95%, 09/01/09- 04/15/42) 0.22% 09/01/09 150,000,917 150,000,000 - ----------------------------------------------------------------------------------------------------------- RBS Securities Inc., Term joint agreement dated 08/14/09, aggregate maturing value $250,046,180 (collateralized by U.S. Government sponsored agency obligations valued at $255,002,678; 0%-9.38%, 10/15/09- 04/15/30) 0.19% 09/18/09 50,009,236 50,000,000 - ----------------------------------------------------------------------------------------------------------- Societe Generale, Term joint agreement dated 08/13/09, aggregate maturing value $500,088,889 (collateralized by U.S. Government sponsored agency obligations valued at $510,000,926; 0%-5.75%, 09/11/09- 06/12/15) 0.20% 09/14/09 75,013,333 75,000,000 =========================================================================================================== Total Repurchase Agreements (Cost $566,346,214) 566,346,214 =========================================================================================================== TOTAL INVESTMENTS-99.96% (Cost $1,636,372,966)(e) 1,636,372,966 =========================================================================================================== OTHER ASSETS LESS LIABILITIES-0.04% 638,160 =========================================================================================================== NET ASSETS-100.00% $1,637,011,126 ___________________________________________________________________________________________________________ ===========================================================================================================
Investment Abbreviations: Ctfs. - Certificates Disc. - Discounted MTN - Medium-Term Notes Sr. - Senior Unsec. - Unsecured VRD - Variable Rate Demand
Notes to Schedule of Investments: (a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. (b) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (c) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (d) Principal amount equals value at period end. See Note 1J. (e) Also represents cost for federal income tax purposes. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 12 AIM TREASURER'S SERIES TRUST SCHEDULE OF INVESTMENTS August 31, 2009 PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ MUNICIPAL OBLIGATIONS-102.08% ALABAMA-2.34% Gardendale (City of) (Forest Ridge Apartments); Series 2002 B, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.48% 10/01/32 $ 3,783 $ 3,783,000 - ------------------------------------------------------------------------------------------------------ Geneva (County of) Industrial Development Board (Brooks AG Co., Inc.); Series 2002, VRD RB (CEP-Federal Home Loan Bank of Atlanta)(a)(b) 0.69% 03/01/14 1,820 1,820,000 - ------------------------------------------------------------------------------------------------------ Oxford (City of); Series 2003, Unlimited Tax VRD GO Wts. (LOC-Branch Banking & Trust Co.)(a)(c) 0.54% 07/01/15 3,120 3,120,000 ====================================================================================================== 8,723,000 ====================================================================================================== ALASKA-0.20% Alaska (State of) Industrial Development & Export Authority (Providence Health System); Series 2003 C, RB 5.00% 10/01/09 750 752,311 ====================================================================================================== ARIZONA-3.96% Apache (County of) Industrial Development Authority (Tucson Electric Power Company- Springerville); Series 1983 B, VRD IDR (LOC-Bank of Newyork Mellon)(a)(c) 0.40% 12/15/18 8,900 8,900,000 - ------------------------------------------------------------------------------------------------------ Glendale (City of); Series 2000, Limited Tax GO(d)(e) 5.38% 07/01/10 500 519,728 - ------------------------------------------------------------------------------------------------------ Phoenix (City of) Industrial Development Authority (Lynwood Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Bank of San Francisco)(a) 0.34% 10/01/25 5,305 5,305,000 ====================================================================================================== 14,724,728 ====================================================================================================== COLORADO-9.21% Colorado (State of) Health Facilities Authority (Arapahoe House); Series 2004 A, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.46% 04/01/24 1,200 1,200,000 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Health Facilities Authority (Catholic Health Initiatives); Series 2008 C- 4, RB(b) 3.75% 11/10/09 900 903,831 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Health Facilities Authority (Crossroads); Series 2003 A, VRD RB (LOC-U.S. Bank, N.A.)(a)(c) 0.37% 11/01/28 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Colorado (State of) Housing and Finance Authority (Genesis Innovations, LLC and Saddlenotch, LLC); Series 2001, Economic Development VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 1.42% 09/01/21 175 175,000 - ------------------------------------------------------------------------------------------------------ EagleBend Affordable Housing Corp.; Series 2006 A, Ref. VRD MFH RB (LOC-U.S. Bank, N.A.)(a)(c) 0.39% 07/01/21 4,880 4,880,000 - ------------------------------------------------------------------------------------------------------ Southglenn Metropolitan District; Series 2007, VRD Special RB (LOC-BNP Paribas)(a)(c)(f) 0.39% 12/01/30 24,625 24,625,000 ====================================================================================================== 34,283,831 ====================================================================================================== DELAWARE-0.94% Kent (County of) (The Charter School, Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/22 3,495 3,495,000 ====================================================================================================== FLORIDA-2.87% Boca Raton (City of); Series 2009, Ref. Water and Sewer RB 4.00% 10/01/09 305 305,805 - ------------------------------------------------------------------------------------------------------ Jacksonville (City of) (Edward Waters College, Inc.); Series 2001, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/21 1,340 1,340,000 - ------------------------------------------------------------------------------------------------------ Palm Beach (County of) Health Facilities Authority (Jupiter Medical Center, Inc.); Series 1999 B, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 08/01/20 2,295 2,295,000 - ------------------------------------------------------------------------------------------------------ Palm Beach (County of), Housing Finance Authority (Azalea Place Apartments); Series 1999 A, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b)(g) 0.43% 12/01/32 3,000 3,000,000 - ------------------------------------------------------------------------------------------------------ Pinellas (County of) Health Facilities Authority (Mease Manor, Inc.); Series 1995, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/15 3,760 3,760,000 ====================================================================================================== 10,700,805 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 13 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ GEORGIA-4.94% Atlanta (City of) Housing Authority (Villages of East Lake Phase II); Series 1999, VRD MFH RB (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.55% 01/01/29 $ 1,400 $ 1,400,000 - ------------------------------------------------------------------------------------------------------ DeKalb (County of) Development Authority (Atlanta Jewish Federation, Inc.); Series 1996, VRD RB (LOC-Wells Fargo, N.A.)(a)(c) 0.48% 08/01/21 1,005 1,005,000 - ------------------------------------------------------------------------------------------------------ DeKalb (County of) Development Authority (Catholic School Properties, Inc.); Series 1999, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 04/01/24 2,575 2,575,000 - ------------------------------------------------------------------------------------------------------ Fayette (County of) Development Authority (Gardner Denver Machinery Inc.); Series 1998, VRD IDR (LOC-PNC Bank, N.A.)(a)(b)(c)(g) 0.51% 03/01/18 2,000 2,000,000 - ------------------------------------------------------------------------------------------------------ Fulton (County of) Development Authority (Friends of High Meadows, Inc.); Series 2000, VRD Educational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 01/01/20 2,325 2,325,000 - ------------------------------------------------------------------------------------------------------ Fulton (County of) Development Authority (Southside Medical Center, Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 06/01/17 4,225 4,225,000 - ------------------------------------------------------------------------------------------------------ Marietta (City of) Housing Authority (Wood Knoll Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.34% 07/01/24 1,200 1,200,000 - ------------------------------------------------------------------------------------------------------ Smyrna (City of) Hospital Authority (Ridgeview Institute Inc.); Series 2002, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 11/01/27 1,660 1,660,000 - ------------------------------------------------------------------------------------------------------ Tallapoosa (City of) Development Authority (United States Can Co.); Series 1994, Ref. VRD IDR (LOC-Deutsche Bank A.G.)(a)(c)(f) 0.82% 02/01/15 2,000 2,000,000 ====================================================================================================== 18,390,000 ====================================================================================================== IDAHO-0.54% Custer (County of) (Standard Oil Co.); Series 1983, VRD PCR(f) 0.75% 10/01/09 2,000 2,000,000 ====================================================================================================== ILLINOIS-9.75% Arcola (City of) (Herff Jones, Inc.) Series 1994, VRD IDR (LOC-PNC Bank, N.A.)(a)(b)(c)(g) 0.75% 06/01/19 3,500 3,500,000 - ------------------------------------------------------------------------------------------------------ Aurora (City of), Kane, Dupage, Will & Kendall (Counties of) (Diamond Envelope Corp.); Series 2007, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 12/01/21 5,000 5,000,000 - ------------------------------------------------------------------------------------------------------ Chicago (City of) (Churchview Supportive Living Facility); Series 2003, VRD MFH RB (LOC-Harris N.A.)(a)(b)(c)(g) 0.78% 03/01/33 2,900 2,900,000 - ------------------------------------------------------------------------------------------------------ East Dundee (Village of) (Kreis Tool & Manufacturing Co., Inc.); Series 1997, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 1.42% 06/01/27 1,210 1,210,000 - ------------------------------------------------------------------------------------------------------ Fox Valley Park District; Series 2009, Unlimited Tax GO 2.50% 12/15/09 700 702,503 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Adventist Health System/Sunbelt Obligated Group); Series 1999, Hospital RB(d)(e) 5.50% 11/15/09 900 918,141 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Cloverhill Pastry Vend Corp.); Series 1993, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 2.12% 12/01/13 1,690 1,690,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (Little City Foundation); Series 1994, VRD Special Facility RB (LOC-Bank of America, N.A.)(a)(c) 0.46% 02/01/19 4,290 4,290,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Development Finance Authority (The Teachers Academy for Mathematics & Science); Series 2001, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 02/01/21 2,080 2,080,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Educational Facilities Authority (The Lincoln Park Society); Series 1999, VRD RB (LOC-Citibank N.A.)(a)(c) 0.35% 01/01/29 2,200 2,200,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Advocate Health Care Network); Series 2008 A-2, VRD RB 0.75% 11/01/30 750 750,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Andre's Imaging and Graphics, Inc.); Series 2007, Ref. VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.60% 07/01/27 250 250,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Jewish Charities Revenue Anticipation Note Program) Series 2009-2010 B, RN (LOC-Harris N.A.)(a)(c)(g) 0.36% 06/30/10 7,185 7,185,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Finance Authority (Metform, LLC); Series 2004, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 1.44% 05/01/14 250 250,000 - ------------------------------------------------------------------------------------------------------ Illinois (State of) Housing Development Authority (Danbury Court Apartments); Series 2004 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b)(c) 0.60% 12/01/39 990 990,000 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 14 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ ILLINOIS-(CONTINUED) Metropolitan Pier and Exposition Authority; Series 1999 A, Ref. RB(d)(e) 5.75% 12/15/09 $ 600 $ 614,911 - ------------------------------------------------------------------------------------------------------ Romeoville (Village of) (Metropolitan Industries, Inc.); Series 1997, VRD IDR (LOC-Harris N.A.)(a)(b)(c) 0.78% 04/01/22 1,750 1,750,000 ====================================================================================================== 36,280,555 ====================================================================================================== INDIANA-10.43% Burns Harbor (Town of) (Dennen Steel Corp.); Series 2003, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(b)(c) 2.50% 12/01/23 1,225 1,225,000 - ------------------------------------------------------------------------------------------------------ Columbus (City of) (Arbors at Waters Edge Apartments); Series 2004, VRD Economic Development RB (CEP-Federal Home Loan Bank of Cincinnati)(a)(b) 0.42% 11/01/36 2,645 2,645,000 - ------------------------------------------------------------------------------------------------------ Franklin (County of) (Sisters of St. Francis of Oldenburg, Inc.); Series 1998, VRD Economic Development RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 12/01/18 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ Huntington (City of) (Huntington University, Inc.); Series 2007, Ref. VRD Economic Development Revenue and Improvement Bonds (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/37 6,800 6,800,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Development Finance Authority (Youth Opportunity Center, Inc.); Series 1998, VRD Educational Facilities RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 01/01/24 4,300 4,300,000 - ------------------------------------------------------------------------------------------------------ Series 1999, VRD IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 01/01/29 1,300 1,300,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facilities Financing Authority (Charity Obligated Group); Series 1999 D, Hospital RB(d)(e) 5.25% 11/15/09 4,000 4,079,438 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facility Financing Authority (Capital Access Designated Pool); Series 2000, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.43% 01/01/20 600 600,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Health Facility Financing Authority (Stone Belt Arc, Inc.); Series 2005, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 02/01/25 2,295 2,295,000 - ------------------------------------------------------------------------------------------------------ Indiana (State of) Housing Finance Authority (Pedcor Investments-Cumberland Crossing Apartments Development); Series 1997 M-B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.74% 01/01/29 723 723,000 - ------------------------------------------------------------------------------------------------------ Indiana University (Trustees of); Series 2008 A, Indiana University Consolidated RB 5.00% 06/01/10 975 1,007,242 - ------------------------------------------------------------------------------------------------------ Knox (City of) (J.W. Hicks, Inc.); Series 2005 A, VRD Economic Development RB (LOC-Harris N.A.)(a)(b)(c) 0.78% 03/01/22 1,840 1,840,000 - ------------------------------------------------------------------------------------------------------ Kokomo (City of) (Village Community Partners IV, L.P.); Series 1995, VRD Economic Development RB (LOC-Federal Home Loan Bank of Indianapolis)(a)(b)(c) 0.64% 06/01/30 1,140 1,140,000 - ------------------------------------------------------------------------------------------------------ La Porte (City of) (Alpha Baking Co., Inc.); Series 2001, Ref. VRD Economic Development RB (LOC-Harris N.A.)(a)(b)(c) 0.78% 11/01/18 2,130 2,130,000 - ------------------------------------------------------------------------------------------------------ Noblesville (City of) (Princeton Lakes Apartments); Series 2003 A, VRD Economic Development RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 06/01/38 5,669 5,669,000 - ------------------------------------------------------------------------------------------------------ Series 2003 B, VRD Economic Development RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.60% 06/01/38 1,072 1,072,000 - ------------------------------------------------------------------------------------------------------ Portage (City of) (Pedcor Investments-Port Crossing III Apartments); Series 1995 B, VRD Economic Development RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.75% 08/01/30 602 602,000 ====================================================================================================== 38,827,680 ====================================================================================================== IOWA-0.16% Sac (County of) (EVAPCO, Inc.); Series 2000, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 07/01/16 600 600,000 ====================================================================================================== KANSAS-2.44% Kansas (State of) Development Finance Authority (Oak Ridge Park Phase I Apartments) Series 2009 D, Ref. VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b) 0.40% 04/01/44 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Shawnee (City of) (Shawnee Village Associates); Series 1984, IDR (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.63% 12/01/09 5,390 5,390,000 - ------------------------------------------------------------------------------------------------------ Shawnee (City of) (Simmons Co.); Series 1996, Private Activity VRD RB (LOC-Deutsche Bank A.G.)(b)(c)(f)(g) 0.58% 12/01/16 1,190 1,190,000 ====================================================================================================== 9,080,000 ====================================================================================================== KENTUCKY-0.03% Kentucky (State of) Rural Economic Development Authority (P.B. & S. Chemical Co., Inc.); Series 1990, VRD RB (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.91% 09/01/10 100 100,000 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 15 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ MAINE-0.23% Gorham (Town of) (Pettingill Group, LLC) Series 2004, VRD RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.65% 04/01/24 $ 875 $ 875,000 ====================================================================================================== MARYLAND-1.17% Baltimore (County of) (Metropolitan District); Series 2008, Commercial Paper BAN 0.35% 10/07/09 2,400 2,400,000 - ------------------------------------------------------------------------------------------------------ Baltimore (County of) (Republic Services, Inc.); Series 2000, Economic Development VRD RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.55% 09/01/20 1,180 1,180,000 - ------------------------------------------------------------------------------------------------------ Maryland (State of) Health & Higher Educational Facilities Authority (North Arundel Hospital Association, Inc.) Series 2000, RB(d)(e) 6.50% 07/01/10 500 529,346 - ------------------------------------------------------------------------------------------------------ Maryland (State of) Health & Higher Educational Facilities Authority (University of Maryland Medical System Corp.); Series 2000, RB(d)(e) 6.75% 07/01/10 250 264,997 ====================================================================================================== 4,374,343 ====================================================================================================== MASSACHUSETTS-1.64% Massachusetts (State of) Development Finance Agency (Hi-Tech Mold & Tool, Inc.); Series 1998, VRD IDR (LOC-TD Bank, N.A.)(a)(b)(c) 0.57% 06/01/18 1,100 1,100,000 - ------------------------------------------------------------------------------------------------------ Massachusetts (State of) Development Finance Agency (MassDevelopment CP Program 5); Series 2007, Commercial Paper RN (LOC-TD Bank, N.A.)(c) 0.40% 10/06/09 5,000 5,000,000 ====================================================================================================== 6,100,000 ====================================================================================================== MICHIGAN-2.69% Michigan (State of) Housing Development Authority (Berrien Woods III Apartments); Series 2000 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b) 0.75% 07/01/32 250 250,000 - ------------------------------------------------------------------------------------------------------ Michigan (State of) Strategic Fund (Camac, LLC); Series 1998, VRD Limited Obligation RB (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 1.42% 08/01/28 200 200,000 - ------------------------------------------------------------------------------------------------------ West Bloomfield School District; Series 2000, Unlimited Tax School Building and Sites GO(d)(e) 5.70% 05/01/10 650 671,441 - ------------------------------------------------------------------------------------------------------ West Shore Medical Center; Series 2001, VRD Health Facilities RB (LOC-PNC Bank, N.A.)(a)(c) 0.67% 04/01/22 8,890 8,890,000 ====================================================================================================== 10,011,441 ====================================================================================================== MINNESOTA-1.73% Minnesota (State of) Independent School District No. 14 (Fridley); Series 2009 B, Unlimited Tax Aid Anticipation Ctfs. of Indebtedness GO 1.25% 09/30/10 1,000 1,006,720 - ------------------------------------------------------------------------------------------------------ Minnesota (State of) Independent School District No. 316 (The Greenway Schools); Series 2009 A, Unlimited Tax Aid Anticipation Ctfs. of Indebtedness GO 1.50% 09/10/10 1,450 1,462,963 - ------------------------------------------------------------------------------------------------------ Minnesota (State of) Tax & Aid Anticipation Borrowing Program (Minnesota School District Credit Enhancement Program); Series 2009, COP 2.00% 09/10/10 1,250 1,268,836 - ------------------------------------------------------------------------------------------------------ Winona (City of) Port Authority (Bay State Milling Co.); Series 2001A, Ref. VRD IDR (LOC-Harris N.A.)(a)(b)(c) 0.78% 06/01/11 2,700 2,700,000 ====================================================================================================== 6,438,519 ====================================================================================================== MISSISSIPPI-0.40% Jackson (County of); Series 1994, Ref. Unlimited Tax VRD Water System GO (CEP-Chevron Corp.)(a) 0.46% 11/01/24 1,500 1,500,000 ====================================================================================================== MISSOURI-3.05% Kansas (City of) Industrial Development Authority (Crooked Creek Apartments Phase II); Series 2004 A, VRD MFH RB (LOC-Bank of America, N.A.)(a)(b)(c) 0.60% 09/01/39 1,995 1,995,000 - ------------------------------------------------------------------------------------------------------ Springfield (City of) Industrial Development Authority (Pebblecreek Apartments); Series 1994, Ref. VRD MFH RB (CEP-Federal Home Loan Bank of Des Moines)(a) 0.50% 12/01/19 3,520 3,520,000 - ------------------------------------------------------------------------------------------------------ St. Louis (County of) Industrial Development Authority (Schnuck Markets, Inc. Kirkwood); Series 1985, VRD IDR (LOC-U.S. Bank, N.A.)(a)(c)(g) 0.39% 12/01/15 3,950 3,950,000 - ------------------------------------------------------------------------------------------------------ Wright City (City of) (Watlow Process Systems); Series 2002, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c) 0.58% 04/01/32 1,900 1,900,000 ====================================================================================================== 11,365,000 ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 16 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ NEVADA-0.37% Henderson (City of) (Catholic Healthcare West); Series 1999 A, Health Facility RB(d)(e) 6.75% 07/01/10 $ 440 $ 466,394 - ------------------------------------------------------------------------------------------------------ Nevada (State of) Housing Division (Golden Apartments); Series 2007, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a)(b) 0.80% 10/01/37 900 900,000 ====================================================================================================== 1,366,394 ====================================================================================================== NEW HAMPSHIRE-2.55% New Hampshire (State of) Business Finance Authority (Alice Peck Day Health Systems Obligated Group); Series 2007 A, VRD RB (LOC-TD Bank, N.A.)(a)(c) 0.33% 10/01/36 3,350 3,350,000 - ------------------------------------------------------------------------------------------------------ New Hampshire (State of) Business Finance Authority (Foundation for Seacoast Health); Series 1998 A, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.48% 06/01/28 4,250 4,250,000 - ------------------------------------------------------------------------------------------------------ New Hampshire (State of) Business Finance Authority (Keeney Manufacturing Co., Inc.); Series 1999, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.62% 11/01/19 1,880 1,880,000 ====================================================================================================== 9,480,000 ====================================================================================================== NEW JERSEY-0.66% Cape May (County of); Unlimited Tax GO 4.00% 07/15/10 800 824,221 - ------------------------------------------------------------------------------------------------------ New Jersey (State of) Economic Development Authority (Institute of Electrical and Electronics Engineers, Inc.); Series 2001 B, VRD Economic Development RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.43% 04/01/14 1,650 1,650,000 ====================================================================================================== 2,474,221 ====================================================================================================== NEW MEXICO-0.11% Albuquerque (City of) (CVI Laser Corp.); Series 1998, VRD IDR (LOC-Bank of America, N.A.)(a)(b)(c)(g) 0.60% 06/01/18 400 400,000 ====================================================================================================== NORTH CAROLINA-4.88% Cabaruss (County of) Industrial Facilities and Pollution Control Financing Authority (Cannon Memorial YMCA); Series 2002, VRD Recreational Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 08/01/23 1,680 1,680,000 - ------------------------------------------------------------------------------------------------------ Mecklenburg (County of) Industrial Facilities and Pollution Control Financing Authority (Southern Steel Co., LLC); Series 2002, VRD IDR (LOC-Wells Fargo Bank, N.A.)(a)(b)(c) 0.58% 03/02/15 2,850 2,850,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Capital Facilities Finance Agency (Montessori School of Raleigh, Inc.); Series 2003, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/17 1,495 1,495,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Educational Facilities Finance Agency (Gardner-Webb University); Series 1999, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 07/01/19 2,005 2,005,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Housing Finance Agency (Appalachian Student Housing Corp.); Series 2000 A-1, VRD Student Housing RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.50% 07/01/31 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Housing Finance Agency (The Masonic Home for Children at Oxford); Series 2002, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.48% 08/01/23 1,825 1,825,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (Carolina Village, Inc.); Series 1998, VRD Health Care Facilities RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/18 1,805 1,805,000 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (Depaul Community Facilities, Inc.); Series 1999, First Mortgage Health Care Facilities RB(d)(e) 7.63% 11/01/09 2,000 2,055,077 - ------------------------------------------------------------------------------------------------------ North Carolina (State of) Medical Care Commission (The McDowell Hospital, Inc.); Series 1999, Ref. VRD Hospital RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 05/15/16 1,255 1,255,000 - ------------------------------------------------------------------------------------------------------ Winston-Salem (City of) (Northeast Winston Ventures LP); Series 1997 A, VRD MFH RB (LOC-Wells Fargo Bank, N.A.)(a)(b)(c) 0.60% 11/01/27 1,790 1,790,000 ====================================================================================================== 18,160,077 ====================================================================================================== NORTH DAKOTA-0.71% Fargo (City of) (Case Oil Co.); Series 1984, VRD Commercial Development RB (LOC-U.S. Bank N.A.)(a)(c) 0.47% 12/01/14 2,655 2,655,000 ====================================================================================================== OHIO-4.50% Cleveland (City of) Municipal School District; Series 2008, Unlimited Tax School Improvement BAN 2.50% 09/30/09 2,000 2,002,131 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 17 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ OHIO-(CONTINUED) Cuyahoga (County of) (Judson Retirement Community); Series 2000, Ref. VRD Health Care Facilities RB (LOC-PNC Bank, N.A.)(a)(c) 0.63% 11/15/19 $ 370 $ 370,000 - ------------------------------------------------------------------------------------------------------ Dublin (City of) City School District; Series 2009, Unlimited Tax School Construction BAN 2.00% 10/15/09 750 751,217 - ------------------------------------------------------------------------------------------------------ Franklin (County of) (Golf Pointe Apartments); Series 2000 B, VRD MFH RB (CEP-Federal Home Loan Bank of Indianapolis)(a)(b)(g) 0.75% 01/01/34 370 370,000 - ------------------------------------------------------------------------------------------------------ Lake (County of) (Lake Hospital System, Inc.); Series 2002, VRD Hospital Facilities RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.47% 12/01/32 8,000 8,000,000 - ------------------------------------------------------------------------------------------------------ Ohio (State of) (Buckeye Savers Bond); Series L, Highway Capital Improvement Unlimited Tax GO 3.50% 05/01/10 150 152,777 - ------------------------------------------------------------------------------------------------------ Ohio (State of); Series 1999 A, Common Schools Capital Facilities Unlimited Tax GO(d)(e) 5.75% 02/01/10 500 515,742 - ------------------------------------------------------------------------------------------------------ Series 2001 A, Common Schools Capital Facilities Unlimited Tax GO(d)(e) 4.75% 06/15/10 1,550 1,601,011 - ------------------------------------------------------------------------------------------------------ Series 2001 F, Highway Capital Improvement Unlimited Tax GO 4.13% 05/01/10 500 511,137 - ------------------------------------------------------------------------------------------------------ Series 2001 II A, Higher Education Capital Facilities RB 5.50% 12/01/09 940 951,482 - ------------------------------------------------------------------------------------------------------ Vandalia-Butler City School District; Series 2009 A, Unlimited Tax School Improvement BAN GO 1.50% 03/01/10 1,500 1,505,542 ====================================================================================================== 16,731,039 ====================================================================================================== OKLAHOMA-1.29% Oklahoma (County of) Finance Authority (Oxford Oaks, Watersedge & Gardens at Reding Apartments); Series 2000, Ref. VRD MFH RB (CEP-Federal National Mortgage Association)(a) 0.30% 07/15/30 4,000 4,000,000 - ------------------------------------------------------------------------------------------------------ Oklahoma (State of) Development Finance Authority (Capitol Dome); Series 2001, VRD RB (LOC-Bank of America, N.A.)(a)(c) 0.49% 06/01/11 800 800,000 ====================================================================================================== 4,800,000 ====================================================================================================== OREGON-0.91% Marion (County of) Housing Authority (Residence at Marion Estates); Series 1997, VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.62% 07/01/27 2,110 2,110,000 - ------------------------------------------------------------------------------------------------------ Portland (City of) (Central City Streetcar Project); Series 2009 A, Limited Tax Ref. RB 1.00% 04/01/10 1,260 1,262,913 ====================================================================================================== 3,372,913 ====================================================================================================== PENNSYLVANIA-3.34% Chester (County of) Health and Education Facilities Authority (Simpson Meadows); Series 2000, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 10/01/30 2,545 2,545,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Greene Towne School, Inc.); Series 2000 I-1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 12/01/25 700 700,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Laurel Highlands Foundation, Inc.); Series 2007 C-1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/22 425 425,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Mainstay Life Services); Series 2001 B, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 04/01/18 400 400,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Moshannon Valley Economic Development Partnership, Inc.); Series 2003 A1, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 04/01/17 525 525,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Pennsylvania Treasury Department Hospital Enhancement Loan Program- Indiana Regional Medical Center); Series 2006 A2, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.44% 06/01/11 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Philadelphia Area Independent School Business Officers Association Financing Program-Plymouth Meeting Friends School) Series 2001 C-2, VRD Economic Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/26 300 300,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Philadelphia Area Independent School Business Officers Association Financing Program-The Crefeld School); Series 2001 E-2, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 12/01/26 575 575,000 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 18 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ PENNSYLVANIA-(CONTINUED) Pennsylvania (State of) Economic Development Financing Authority (PMF Industries, Inc.); Series 2006 C-2, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 12/01/26 $ 625 $ 625,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (The Herr Group); Series 2000 H7, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.84% 12/01/21 600 600,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development financing Authority (The Kingsley Association); Series 2006 B1, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.39% 08/01/26 375 375,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Economic Development Financing Authority (Topwater Investments Inc.); Series 2007 B-1, VRD RB (LOC-PNC Bank, N.A.)(a)(b)(c) 0.49% 08/01/35 660 660,000 - ------------------------------------------------------------------------------------------------------ Pennsylvania (State of) Higher Educational Facilities Authority (Association of Independent Colleges & Universities of Pennsylvania Financing Program-Mount Aloysius College); Series 1998 C3, VRD RB (LOC-PNC Bank, N.A.)(a)(c) 0.44% 11/01/18 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Philadelphia (City of) Authority for Industrial Development (1100 Walnut Associates); VRD Commercial Development RB (LOC-PNC Bank, N.A.)(a)(c) 0.45% 12/01/14 2,200 2,200,000 - ------------------------------------------------------------------------------------------------------ Philadelphia (City of) Redevelopment Authority (The Presbyterian Home at 58th Street); Series 1998, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 07/01/28 495 495,000 ====================================================================================================== 12,425,000 ====================================================================================================== RHODE ISLAND-0.41% Rhode Island (State of) & Providence Plantations; Series 2009, Unlimited GO TAN 2.50% 06/30/10 1,500 1,524,499 ====================================================================================================== SOUTH CAROLINA-3.23% Charleston (County of); Series 2009 B, Ref. Unlimited Tax GO 2.00% 08/01/10 1,500 1,517,741 - ------------------------------------------------------------------------------------------------------ Greenville (County of) School District; Series 2009 C, Unlimited Tax GO 2.00% 06/01/10 2,000 2,022,240 - ------------------------------------------------------------------------------------------------------ South Carolina (State of) Jobs-Economic Development Authority (Family YMCA of Greater Florence); Series 2000, VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 06/01/15 1,500 1,500,000 - ------------------------------------------------------------------------------------------------------ Spartanburg (County of) School District No. 2; Series 2009, Unlimited Tax GO 3.00% 04/01/10 1,490 1,511,987 - ------------------------------------------------------------------------------------------------------ Union (City of) Hospital District; Series 2000, VRD Healthcare RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 09/01/20 5,460 5,460,000 ====================================================================================================== 12,011,968 ====================================================================================================== TENNESSEE-0.53% Jackson (City of) Health, Education and Housing Facility Board (Union University); Series 2000, VRD RB (CEP-Federal Home Loan Bank)(a) 0.75% 04/01/15 1,335 1,335,000 - ------------------------------------------------------------------------------------------------------ Nashville (City of) & Davidson (County of) Metropolitan Government Industrial Development Board (L & S, LLC); Series 2001, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(b)(c) 0.55% 03/01/26 650 650,000 ====================================================================================================== 1,985,000 ====================================================================================================== TEXAS-7.33% Arlington (City of); Series 2005 A, Unlimited Tax GO Commercial Paper Notes 0.40% 10/02/09 2,500 2,500,000 - ------------------------------------------------------------------------------------------------------ Crawford (City of) Education Facilities Corp. (Central Houston Parking LLC-University Parking System); Series 2004 A, Ref. VRD RB (LOC-BNP Paribas)(a)(c)(f) 1.10% 05/01/35 5,000 5,000,000 - ------------------------------------------------------------------------------------------------------ Fort Bend (County of); Series 2009, Ref. Limited Tax GO Bonds 4.00% 03/01/10 205 208,152 - ------------------------------------------------------------------------------------------------------ Garland (City of); Series 2008, GO Commercial Paper Notes 0.40% 09/03/09 2,000 2,000,000 - ------------------------------------------------------------------------------------------------------ Hockley (County of) Industrial Development Corp. (Amoco Corp.); Series 1983, VRD PCR(a)(f) 0.75% 09/01/09 1,750 1,750,000 - ------------------------------------------------------------------------------------------------------ Series 1985, VRD PCR(a)(f) 0.72% 11/01/19 1,400 1,400,000 - ------------------------------------------------------------------------------------------------------ Houston (City of) Higher Education Finance Corp. (Tierwester Oaks & Richfield Manor); Series 2003 A, Housing VRD RB (LOC-Bank of New York Mellon)(a)(c) 1.20% 03/01/33 4,800 4,800,000 - ------------------------------------------------------------------------------------------------------ Houston (City of); Series 2009 A, Public Improvement Ref. Limited Tax GO 2.00% 03/01/10 1,700 1,711,322 - ------------------------------------------------------------------------------------------------------ JPMorgan PUTTERs (Houston Community College System); Series 2009-3356, VRD Limited Tax GO(a)(g)(h) 0.54% 02/15/12 3,505 3,505,000 - ------------------------------------------------------------------------------------------------------ Killeen (City of) Texas; Series 2009, Ref. Limited Tax GO 1.25% 08/01/10 1,130 1,136,870 - ------------------------------------------------------------------------------------------------------
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 19 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO
PRINCIPAL INTEREST MATURITY AMOUNT RATE DATE (000) VALUE - ------------------------------------------------------------------------------------------------------ TEXAS-(CONTINUED) San Angelo (City of); Series 2009, Combination Tax & Limited Surplus GO RB 2.00% 02/15/10 $ 770 $ 773,987 - ------------------------------------------------------------------------------------------------------ San Antonio (City of); Series 2008 A, Ref. Electric and Gas Systems RB 5.50% 02/01/10 550 560,226 - ------------------------------------------------------------------------------------------------------ Travis (County of); Series 2008, Limited Tax GO Ctfs. 3.25% 03/01/10 900 911,157 - ------------------------------------------------------------------------------------------------------ Tyler (City of) Independent School District; Series 2005 A, Ref. Unlimited Tax GO (CEP-Texas Permanent School Fund) 3.50% 02/15/10 1,000 1,012,192 ====================================================================================================== 27,268,906 ====================================================================================================== UTAH-0.84% Utah (State of) Housing Corp. (Timbergate Apartments); Series 2009 A, VRD MFH RB (CEP-Federal Home Loan Mortgage Corp.)(a) 0.39% 04/01/42 3,125 3,125,000 ====================================================================================================== VERMONT-4.42% Vermont (State of) Economic Development Authority (Wake Robin Corp.); Series 2006 B, VRD Mortgage RB (LOC-Banco Santander, S.A.)(a)(c)(f) 0.32% 05/01/29 16,455 16,455,000 ====================================================================================================== VIRGINIA-0.53% Fairfax (County of) Industrial Development Authority (Inova Health System Foundation); Series 2009 A, Health Care RB 3.00% 05/15/10 470 477,711 - ------------------------------------------------------------------------------------------------------ Norfolk (City of) Redevelopment and Housing Authority (Meredith Realty Ghent Properties, LLC); Series 2000, Ref. VRD MFH RB (LOC-Wells Fargo Bank, N.A.)(a)(c) 0.48% 01/01/21 1,490 1,490,000 ====================================================================================================== 1,967,711 ====================================================================================================== WASHINGTON-4.82% Lake Tapps Parkway Properties; Series 1999 A, VRD Special RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.48% 12/01/19 12,000 12,000,000 - ------------------------------------------------------------------------------------------------------ Series 1999 B, VRD Special RB (LOC-U.S. Bank, N.A.)(a)(c) 0.48% 12/01/19 4,700 4,700,000 - ------------------------------------------------------------------------------------------------------ Olympia (Port of) Economic Development Corp. (Spring Air Northwest); Series 1998, YRD RB (LOC-U.S. Bank, N.A.)(a)(c) 0.62% 11/01/23 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Washington (State of) Housing Finance Commission (LTC Properties, Inc.); Series 1995, MFH VRD RB (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.62% 12/01/15 250 250,000 ====================================================================================================== 17,950,000 ====================================================================================================== WEST VIRGINIA-0.11% Keyser (City of) (Keyser Associates); Ref. VRD IDR (LOC-PNC Bank, N.A.)(a)(c)(g) 0.39% 07/01/14 400 400,000 ====================================================================================================== WISCONSIN-1.82% Byron (Town of) (Ocean Spray Cranberries, Inc.) Series 1998, Ref. VRD RB (LOC-Wells Fargo Bank, N.A.)(a)(c)(g) 0.48% 12/01/20 1,000 1,000,000 - ------------------------------------------------------------------------------------------------------ Campbell (Town of) (Skipperliner Industries Inc.); Series 2000, VRD IDR (LOC-U.S. Bank, N.A.)(a)(b)(c) 0.45% 05/01/20 1,780 1,780,000 - ------------------------------------------------------------------------------------------------------ Marathon (County of); Series 2009 A, Unlimited Tax Promissory GO 2.50% 12/01/09 1,000 1,004,354 - ------------------------------------------------------------------------------------------------------ Wisconsin (State of) Health & Educational Facilities Authority (Three Pillars Senior Living Communities); Series 2004 B, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.48% 08/15/34 1,725 1,725,000 - ------------------------------------------------------------------------------------------------------ Wisconsin (State of) Health & Educational Facilities Authority (Valley Packaging Industries, Inc.); Series 2005, VRD RB (LOC-JPMorgan Chase Bank, N.A.)(a)(c) 0.82% 07/01/35 1,210 1,210,000 ====================================================================================================== 6,719,354 ====================================================================================================== TOTAL INVESTMENTS-102.08% (Cost $379,894,295)(i)(j) 379,894,295 ====================================================================================================== OTHER ASSETS LESS LIABILITIES-(2.08)% (7,727,151) ====================================================================================================== NET ASSETS-100.00% $372,167,144 ______________________________________________________________________________________________________ ======================================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 20 AIM TREASURER'S SERIES TRUST PREMIER TAX-EXEMPT PORTFOLIO Investment Abbreviations: BAN - Bond Anticipation Note CEP - Credit Enhancement Provider COP - Certificates of Participation Ctfs. - Certificates GO - General Obligation Bonds IDR - Industrial Development Revenue Bonds LOC - Letter of Credit MFH - Multi-Family Housing PCR - Pollution Control Revenue Bonds PUTTERs - Putable Tax-Exempt Receipts RB - Revenue Bonds Ref. - Refunding RN - Revenue Notes TAN - Tax Anticipation Notes VRD - Variable Rate Demand Wts. - Warrants
Notes to Schedule of Investments: (a) Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2009. (b) Security subject to the alternative minimum tax. (c) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. (d) Advance refunded; secured by an escrow fund of U.S. Government obligations. (e) Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. (f) The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: France: 8%; other countries less than 5% each: 6.7%. (g) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2009 was $37,650,000, which represented 10.12% of the Fund's Net Assets. (h) Synthetic municipal instruments; involves the deposit into a trust of one or more long-term tax-exempt bonds or notes ("Underlying Bonds."), a sale of certificates evidencing interests in the trust to investors such as the Fund. The trustee receives the long-term fixed interest payments on the Underlying Bonds, and pays certificate holders variable rate interest payments based upon a short-term reset periodically. (i) Also represents cost for federal income tax purposes. (j) This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations.
ENTITIES PERCENTAGE --------------------------------------------------------------------------------------------- Wells Fargo Bank, N.A. 14.1% --------------------------------------------------------------------------------------------- U.S. Bank, N.A. 9.7 --------------------------------------------------------------------------------------------- PNC Bank, N.A. 8.9 --------------------------------------------------------------------------------------------- Bank of America, N.A. 8.7 --------------------------------------------------------------------------------------------- JPMorgan Chase Bank, N.A. 8.5 --------------------------------------------------------------------------------------------- BNP Paribas 8.0 --------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp. 5.3 _____________________________________________________________________________________________ =============================================================================================
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 21 AIM TREASURER'S SERIES TRUST STATEMENT OF ASSETS AND LIABILITIES August 31, 2009
PREMIER U.S. PREMIER PREMIER GOVERNMENT MONEY TAX-EXEMPT PORTFOLIO PORTFOLIO PORTFOLIO - ------------------------------------------------------------ -------------- ---------------- ------------ ASSETS: Investments, at value $3,728,399,181 $1,070,026,752 $379,894,295 - ------------------------------------------------------------ -------------- ---------------- ------------ Repurchase agreements, at value and cost 326,760,759 566,346,214 -- ============================================================ ============== ================ ============ Total investments, at value and cost 4,055,159,940 1,636,372,966 379,894,295 ============================================================ ============== ================ ============ Receivables for: Investments sold -- -- 545,000 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund shares sold 54,891 13,903 710 - ------------------------------------------------------------ -------------- ---------------- ------------ Interest 2,299,716 871,678 561,000 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund expenses absorbed -- 1,326 -- - ------------------------------------------------------------ -------------- ---------------- ------------ Investment for trustee deferred compensation and retirement plans -- 8,035 -- - ------------------------------------------------------------ -------------- ---------------- ------------ Other assets 64,072 3,505 4,094 ============================================================ ============== ================ ============ Total assets 4,057,578,619 1,637,271,413 381,005,099 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ LIABILITIES: Payables for: Investments purchased -- -- 7,341,475 - ------------------------------------------------------------ -------------- ---------------- ------------ Fund shares reacquired 12,596 6,564 300 - ------------------------------------------------------------ -------------- ---------------- ------------ Amount due custodian -- -- 1,404,213 - ------------------------------------------------------------ -------------- ---------------- ------------ Dividends 826,660 244,756 91,967 - ------------------------------------------------------------ -------------- ---------------- ------------ Accrued fees to affiliates 1,350 -- -- - ------------------------------------------------------------ -------------- ---------------- ------------ Trustee deferred compensation and retirement plans -- 8,967 -- ============================================================ ============== ================ ============ Total liabilities 840,606 260,287 8,837,955 ============================================================ ============== ================ ============ Net assets applicable to shares outstanding $4,056,738,013 $1,637,011,126 $372,167,144 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ NET ASSETS CONSIST OF: Shares of beneficial interest $4,056,637,961 $1,636,946,640 $372,166,775 - ------------------------------------------------------------ -------------- ---------------- ------------ Undistributed net investment income 53,862 28,451 444 - ------------------------------------------------------------ -------------- ---------------- ------------ Undistributed net realized gain (loss) 46,190 36,035 (75) ============================================================ ============== ================ ============ $4,056,738,013 $1,637,011,126 $372,167,144 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ NET ASSETS: Investor Class $ 82,809,922 $ 31,340,012 $ 25,146,905 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Institutional Class $3,973,928,091 $1,605,671,114 $347,020,239 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ SHARES OUTSTANDING, $0.01 PAR VALUE PER SHARE, UNLIMITED NUMBER OF SHARES AUTHORIZED: Investor Class 82,802,086 31,339,063 25,147,274 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Institutional Class 3,973,838,410 1,605,635,978 347,019,945 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============ Net asset value, offering and redemption price per share for each class $ 1.00 $ 1.00 $ 1.00 ____________________________________________________________ ______________ ________________ ____________ ============================================================ ============== ================ ============
See accompanying Notes to Financial Statements which are an integral part of the financial statements. 22 AIM TREASURER'S SERIES TRUST STATEMENT OF OPERATIONS For the year ended August 31, 2009
PREMIER U.S. PREMIER PREMIER GOVERNMENT MONEY TAX-EXEMPT PORTFOLIO PORTFOLIO PORTFOLIO - ------------------------------------------------------------- ----------- ---------------- ---------- INVESTMENT INCOME: Interest $50,134,831 $10,260,538 $4,125,278 ============================================================= =========== ================ ========== EXPENSES: Advisory fees 9,489,974 3,238,857 753,564 - ------------------------------------------------------------- ----------- ---------------- ---------- Treasury Guarantee Program Fee 1,275,134 154,698 78,385 ============================================================= =========== ================ ========== Total expenses 10,765,108 3,393,555 831,949 ============================================================= =========== ================ ========== Less: Fees waived (2,691,604) (897,559) -- ============================================================= =========== ================ ========== Net expenses 8,073,504 2,495,996 831,949 ============================================================= =========== ================ ========== Net investment income 42,061,327 7,764,542 3,293,329 ============================================================= =========== ================ ========== Net realized gain from Investment securities* 46,190 48,892 10 ============================================================= =========== ================ ========== Net increase in net assets resulting from operations $42,107,517 $ 7,813,434 $3,293,339 _____________________________________________________________ ___________ ________________ __________ =========================================================== =========== ================ ==========
* Includes net gains from securities sold to affiliates of $257 for Premier U.S. Government Money Portfolio. See accompanying Notes to Financial Statements which are an integral part of the financial statements. 23 AIM TREASURER'S SERIES TRUST STATEMENT OF CHANGES IN NET ASSETS For the years ended August 31, 2009 and 2008
PREMIER U.S. GOVERNMENT PREMIER TAX-EXEMPT PREMIER PORTFOLIO MONEY PORTFOLIO PORTFOLIO ------------------------------ ---------------------------- -------------------------- AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, 2009 2008 2009 2008 2009 2008 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- OPERATIONS: Net investment income $ 42,061,327 $ 171,607,681 $ 7,764,542 $ 8,513,610 $ 3,293,329 $ 3,787,289 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Net realized gain (loss) 46,190 34,347 48,892 (12,857) 10 215 ======================================== ============================== ============================ ========================== Net increase in net assets resulting from operations 42,107,517 171,642,028 7,813,434 8,500,753 3,293,339 3,787,504 ======================================== ============================== ============================ ========================== DISTRIBUTIONS TO SHAREHOLDERS FROM NET INVESTMENT INCOME: Investor Class (1,173,025) (4,208,224) (273,113) (967,487) (294,166) (570,414) - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Institutional Class (40,888,302) (167,399,457) (7,491,429) (7,546,123) (2,999,163) (3,216,875) ======================================== ============================== ============================ ========================== Total distributions from net investment income (42,061,327) (171,607,681) (7,764,542) (8,513,610) (3,293,329) (3,787,289) ======================================== ============================== ============================ ========================== SHARE TRANSACTIONS-NET: Investor Class (25,819,867) (7,016,514) 1,872,605 (1,107,149) 707,286 5,521,137 - ---------------------------------------- ------------------------------ ---------------------------- -------------------------- Institutional Class (546,257,104) 680,091,754 1,155,205,117 440,135,455 84,938,181 211,635,293 ======================================== ============================== ============================ ========================== Net increase (decrease) in net assets resulting from share transactions (572,076,971) 673,075,240 1,157,077,722 439,028,306 85,645,467 217,156,430 ======================================== ============================== ============================ ========================== Net increase (decrease) in net assets (572,030,781) 673,109,587 1,157,126,614 439,015,449 85,645,477 217,156,645 ======================================== ============================== ============================ ========================== NET ASSETS: Beginning of year 4,628,768,794 3,955,659,207 479,884,512 40,869,063 286,521,667 69,365,022 ======================================== ============================== ============================ ========================== End of year* $4,056,738,013 $4,628,768,794 $1,637,011,126 $479,884,512 $372,167,144 $286,521,667 ======================================== ============================== ============================ ========================== * Includes accumulated undistributed net investment income $ 53,862 $ 53,862 $ 28,451 $ 28,451 $ 444 $ 444 ________________________________________ ______________________________ ____________________________ __________________________ ====================================== ============================== ============================ ==========================
NOTES TO FINANCIAL STATEMENTS August 31, 2009 NOTE 1--SIGNIFICANT ACCOUNTING POLICIES AIM Treasurer's Series Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust consisting of three separate portfolios, (each constituting a "Fund"). The Funds covered in this report are Premier Portfolio, Premier U.S. Government Money Portfolio and Premier Tax-Exempt Portfolio (collectively, the "Funds"). The assets, liabilities and operations of each portfolio are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such portfolio or class. The investment objective of each Fund is a high level of current income consistent with the preservation of capital and the maintenance of liquidity. Each Fund currently consists of two classes of shares: Investor Class and Institutional Class. Investor Class shares of the Fund are offered only to certain grandfathered investors. Each class of shares is sold at net asset value. The following is a summary of the significant accounting policies followed by the Funds in the preparation of their financial statements. A. SECURITY VALUATIONS -- The Funds securities are recorded on the basis of amortized cost which approximates value as permitted by Rule 2a-7 under the 1940 Act. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME -- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income, adjusted for amortization of premiums and accretion of discounts on investments, is recorded on the accrual basis from settlement date. Paydown gains and losses on mortgage and asset-backed securities are recorded as adjustments to interest income. The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain/loss for investments no longer held and as unrealized gain/loss for investments still held. 24 AIM TREASURER'S SERIES TRUST Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund's net asset value and, accordingly, they reduce each Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Funds and the advisor. The Funds allocate realized capital gains and losses to a class based on the relative net assets of each class. The Funds allocate income to a class based on the relative value of the settled shares of each class. C. COUNTRY DETERMINATION -- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment advisor may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. D. DISTRIBUTIONS -- It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually. E. FEDERAL INCOME TAXES -- The Funds intend to comply with the requirements of Subchapter M of the Internal Revenue Code necessary to qualify as a regulated investment company and to distribute substantially all of the Funds' taxable earnings to shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. Each Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally each Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period. F. ACCOUNTING ESTIMATES -- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period end date and before the date the financial statements are released to print, which is generally 45 days from the period end date. G. INDEMNIFICATIONS -- Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts, including each Funds' servicing agreements, that contain a variety of indemnification clauses. Each Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. H. TREASURY GUARANTEE PROGRAM -- The Board of Trustees approved the participation of the Funds in the U.S. Department of Treasury's (the "Treasury Department") Temporary Guarantee Program for Money Market Funds (the "Program") as extended except as noted below. Under the Program, the Treasury Department will guarantee shareholders in the Fund that they will receive $1 for each Fund share held by them as of the close of business on September 19, 2008, in the event that such Fund (in which they were invested as of September 19, 2008) liquidates and the per share value at the time of liquidation is less than $0.995. On April 7, 2009, the Funds' Board approved Premier Portfolio and Premier Tax-Exempt Portfolio to participate in the final extension of the Program through September 18, 2009. The Program expired on September 18, 2009. I. OTHER RISKS -- Investments in obligations issued by agencies and instrumentalities of the U.S. government may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the underlying fund holding securities of such issuer might not be able to recover its investment from the U.S. Government. The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad. The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. Since, many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Fund's investments in municipal securities. There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service. J. REPURCHASE AGREEMENTS -- The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund's pro-rata interest in joint repurchase agreements, is taken into possession by such Fund upon entering into the repurchase agreement. Eligible securities for collateral are securities consistent with the Fund's investment objectives and may consist of U.S. Government Securities, U.S. Government Sponsored Agency Securities and/or, Investment Grade Debt Securities. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is at least 102% of the sales price of the repurchase agreement. Collateral consisting of Investment 25 AIM TREASURER'S SERIES TRUST Grade Debt Securities is marked to market daily to ensure its market value is at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The repurchase amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income. NOTE 2--ADVISORY FEES AND OTHER FEES PAID TO AFFILIATES The Trust has entered into a master investment advisory agreement with Invesco Aim Advisors, Inc. (the "Advisor" or "Invesco Aim"). Under the terms of the investment advisory agreement, each Fund pays an advisory fee to the Advisor at an annual rate of 0.25% of such Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Advisor bears all expenses incurred by each Fund in connection with its operations, except for (i) interest, taxes and extraordinary items such as litigation costs; (ii) brokers' commissions, issue and transfer taxes, and other costs chargeable to each Fund in connection with securities transactions to which such Fund is a party or in connection with securities owned by such Fund; (iii) the cost of participating in the United States Treasury Temporary Guarantee Program; and (iv) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies. Under the terms of a master sub-advisory agreement approved by shareholders of Premier Portfolio and Premier Tax-Exempt Portfolio, respectively between the Advisor and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Australia Limited, Invesco Global Asset Management (N.A.), Inc., Invesco Hong Kong Limited, Invesco Institutional (N.A.), Inc., Invesco Senior Secured Management, Inc. and Invesco Trimark Ltd. (collectively, the "Affiliated Sub-Advisors") the Advisor, not the Funds, may pay 40% of the fees paid to the Advisor to any such Affiliated Sub-Advisor(s) that provide discretionary investment management services to each Fund based on the percentage of assets allocated to such Sub- Advisor(s). Effective July 1, 2009, the Advisor has contractually agreed, through at least June 30, 2010, to waive advisory fees equal to 0.03% of the average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. Prior to July 1, 2009, the Advisor had contractually agreed to waive advisory fees equal to 0.08% of the average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. For the year ended August 31, 2009, the Advisor waived advisory fees and /or reimbursed Fund expenses in the following amounts: Premier Portfolio $2,691,604 - ----------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 897,559 - -----------------------------------------------------------------------------------------------
The Trust has entered into a master administrative services agreement with Invesco Aim to provide accounting services to each Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Aim Investment Services, Inc. ("IAIS") to provide transfer agency and shareholder services to each Fund. Invesco Aim and IAIS do not charge the Funds any fees under these agreements. The Trust has entered into a master distribution agreement with Invesco Aim Distributors, Inc. ("IADI") to serve as the distributor for the Investor Class shares and Institutional Class shares, respectively. Certain officers and trustees of the Trust are officers and directors of Invesco Aim, IAIS and/or IADI. NOTE 3--ADDITIONAL VALUATION INFORMATION Generally Accepted Accounting Principles (GAAP) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3) generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level: Level 1 -- Prices are determined using quoted prices in an active market for identical assets. Level 2 -- Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others. Level 3 -- Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. The following is a summary of the tiered valuation input levels, as of the end of the reporting period, August 31, 2009. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
LEVEL 1 LEVEL 2 LEVEL 3 TOTAL - --------------------------------------------------------------------------------------------------------------------------- Premier Portfolio Short-Term Investments $-- $4,055,159,940 $-- $4,055,159,940 - --------------------------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio Short-Term Investments -- 1,636,372,966 -- 1,636,372,966 - --------------------------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio Short-Term Investments -- 379,894,295 -- 379,894,295 - ---------------------------------------------------------------------------------------------------------------------------
26 AIM TREASURER'S SERIES TRUST NOTE 4--SECURITY TRANSACTIONS WITH AFFILIATED FUNDS Each Fund is permitted to purchase or sell securities from or to certain other AIM Funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund or portfolio that is or could be considered an affiliate by virtue of having a common investment advisor (or affiliated investment advisors), common Trustees and/or common officers complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. For the year ended August 31, 2009, each Fund engaged in transactions with affiliates as listed below:
SECURITIES NET PURCHASES SECURITIES SALES REALIZED GAINS - ------------------------------------------------------------------------------------------------------------------ Premier Portfolio $113,057,321 $ (43,048,112) $ -- - ------------------------------------------------------------------------------------------------------------------ Premier U.S. Government Money Portfolio 4,999,972 -- 257 - ------------------------------------------------------------------------------------------------------------------ Premier Tax-Exempt Portfolio 591,682,678 (408,853,090) -- - ------------------------------------------------------------------------------------------------------------------
NOTE 5--TRUSTEES' AND OFFICERS' FEES AND BENEFITS Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various AIM Funds in which their deferral accounts shall be deemed to be invested. Certain current Trustees are eligible to participate in a retirement plan that provides for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. Each Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco Aim and not by the Trust. NOTE 6--CASH BALANCES The Funds are permitted to temporarily overdraft or leave balances in their accounts with The Bank of New York Mellon (BNY Mellon), the custodian bank. To compensate BNY Mellon or the Funds for such activity, the Funds may either (i) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco Aim, not to exceed the contractually agreed upon rate; or (ii) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds. NOTE 7--DISTRIBUTIONS TO SHAREHOLDERS AND TAX COMPONENTS OF NET ASSETS Tax Character of Distributions to Shareholders Paid During the Years Ended August 31, 2009 and 2008:
2009 2008 ORDINARY INCOME ORDINARY INCOME - --------------------------------------------------------------------------------------------------------- Premier Portfolio $42,061,327 $171,607,681 - --------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 7,764,542 8,513,610 - --------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio -- Tax-Exempt 3,293,329 3,787,289 - ---------------------------------------------------------------------------------------------------------
TAX COMPONENTS OF NET ASSETS AT PERIOD-END:
TEMPORARY UNDISTRIBUTED BOOK/TAX CAPITAL LOSS SHARES OF TOTAL ORDINARY INCOME DIFFERENCES CARRYFORWARD BENEFICIAL INTEREST NET ASSETS - ------------------------------------------------------------------------------------------------------------------ Premier Portfolio $100,052 $ -- $ -- $4,056,637,961 $4,056,738,013 - ------------------------------------------------------------------------------------------------------------------ Premier U.S. Government Money Portfolio 72,277 (7,791) 1,636,946,640 1,637,011,126 - ------------------------------------------------------------------------------------------------------------------ Premier Tax-Exempt Portfolio 444 -- (75) 372,166,775 372,167,144 - ------------------------------------------------------------------------------------------------------------------
The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Funds temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits. Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Funds to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions. The following Fund utilized capital loss carryforward in the current period to offset net realized capital gain for federal income tax purposes as follows:
CAPITAL LOSS CARRYFORWARD UTILIZED - --------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio $10 - ---------------------------------------------------------------------------------------------------
27 AIM TREASURER'S SERIES TRUST The following Fund listed below has a capital loss carryforward as of August 31, 2009 which expires as follows:
2012* - ------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio $75 - -------------------------------------------------------------------------------------------
* Capital loss carryforward as of the date listed above is reduced for limitations, if any, to the extent required by the Internal Revenue Code. NOTE 8--SHARE INFORMATION PREMIER PORTFOLIO
SUMMARY OF SHARE ACTIVITY - ---------------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ----------------------------------------------------------------------------- 2009(a) 2008 ------------------------------------ ------------------------------------ SHARES AMOUNT SHARES AMOUNT - ---------------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 47,633,427 $ 47,633,427 68,043,146 $ 68,043,146 - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class 24,531,054,932 24,531,054,932 32,349,183,017 32,349,183,017 ================================================================================================================================== Issued as reinvestment of dividends: Investor Class 1,099,467 1,099,467 3,989,858 3,989,858 - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class 16,096,073 16,096,073 66,655,685 66,655,685 ================================================================================================================================== Reacquired: Investor Class (74,552,761) (74,552,761) (79,049,518) (79,049,518) - ---------------------------------------------------------------------------------------------------------------------------------- Institutional Class (25,093,408,109) (25,093,408,109) (31,735,746,948) (31,735,746,948) ================================================================================================================================== Net increase (decrease) in share activity (572,076,971) $ (572,076,971) 673,075,240 $ 673,075,240 __________________________________________________________________________________________________________________________________ ==================================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 32% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. In addition, 36% of the outstanding shares of the Fund are owned by affiliated mutual funds. Affiliated mutual funds are other mutual funds that are also advised by Invesco AIM. PREMIER U.S. GOVERNMENT MONEY PORTFOLIO
SUMMARY OF SHARE ACTIVITY - -------------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ------------------------------------------------------------------------- 2009(a) 2008 ---------------------------------- ---------------------------------- SHARES AMOUNT SHARES AMOUNT - -------------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 28,241,195 $ 28,241,195 12,258,798 $ 12,258,798 - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class 5,960,891,705 5,960,891,705 1,557,906,977 1,557,906,977 ================================================================================================================================ Issued as reinvestment of dividends: Investor Class 262,544 262,544 935,876 935,876 - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class 3,642,356 3,642,356 3,740,670 3,740,670 ================================================================================================================================ Reacquired: Investor Class (26,631,134) (26,631,134) (14,301,823) (14,301,823) - -------------------------------------------------------------------------------------------------------------------------------- Institutional Class (4,809,328,944) (4,809,328,944) (1,121,512,192) (1,121,512,192) ================================================================================================================================ Net increase in share activity 1,157,077,722 $ 1,157,077,722 439,028,306 $ 439,028,306 ________________________________________________________________________________________________________________________________ ================================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 82% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. 28 AIM TREASURER'S SERIES TRUST NOTE 8--SHARE INFORMATION--(CONTINUED) PREMIER TAX-EXEMPT PORTFOLIO
SUMMARY OF SHARE ACTIVITY - --------------------------------------------------------------------------------------------------------------------------- YEAR ENDED AUGUST 31, ----------------------------------------------------------------- 2009(a) 2008 ------------------------------ ------------------------------ SHARES AMOUNT SHARES AMOUNT - --------------------------------------------------------------------------------------------------------------------------- Sold: Investor Class 29,004,073 $ 29,004,073 27,617,117 $ 27,617,117 - --------------------------------------------------------------------------------------------------------------------------- Institutional Class 751,825,717 751,825,717 670,891,517 670,891,517 =========================================================================================================================== Issued as reinvestment of dividends: Investor Class 270,951 270,951 555,280 555,280 - --------------------------------------------------------------------------------------------------------------------------- Institutional Class 3,010,446 3,010,446 2,779,671 2,779,671 =========================================================================================================================== Reacquired: Investor Class (28,567,738) (28,567,738) (22,651,260) (22,651,260) - --------------------------------------------------------------------------------------------------------------------------- Institutional Class (669,897,982) (669,897,982) (462,035,895) (462,035,895) =========================================================================================================================== Net increase in share activity 85,645,467 $ 85,645,467 217,156,430 $ 217,156,430 ___________________________________________________________________________________________________________________________ ===========================================================================================================================
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 90% of the outstanding shares of the Fund. IADI has an agreement with these entities to sell Fund shares. The Fund, Invesco Aim and/or Invesco Aim affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco Aim and/or Invesco Aim affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Trust has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially. 29 AIM TREASURER'S SERIES TRUST NOTE 9--FINANCIAL HIGHLIGHTS The following schedule presents financial highlights for a share of each Fund outstanding throughout the periods indicated. INSTITUTIONAL CLASS
NET GAINS (LOSSES) NET ASSET ON SECURITIES DIVIDENDS VALUE, NET (BOTH TOTAL FROM FROM NET NET ASSET NET ASSETS, BEGINNING INVESTMENT REALIZED AND INVESTMENT INVESTMENT VALUE, END TOTAL END OF PERIOD OF PERIOD INCOME UNREALIZED) OPERATIONS INCOME OF PERIOD RETURN(a) (000S OMITTED) - ------------------------------------------------------------------------------------------------------------------------------ PREMIER PORTFOLIO Year ended 08/31/09 $1.00 $0.01(b) $ 0.00 $0.01 $(0.01) $1.00 1.21% $3,973,928 Year ended 08/31/08 1.00 0.04 0.00 0.04 (0.04) 1.00 3.80 4,520,142 Year ended 08/31/07 1.00 0.05 (0.00) 0.05 (0.05) 1.00 5.35 3,840,017 Year ended 08/31/06 1.00 0.04 0.00 0.04 (0.04) 1.00 4.54 2,556,378 Year ended 08/31/05(d) 1.00 0.01 -- 0.01 (0.01) 1.00 1.51 364,108 - ------------------------------------------------------------------------------------------------------------------------------ PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Year ended 08/31/09 1.00 0.01(b) 0.00 0.01 (0.01) 1.00 0.83 1,605,671 Year ended 08/31/08 1.00 0.03 (0.00) 0.03 (0.03) 1.00 3.29 450,419 Year ended 08/31/07 1.00 0.05 0.00 0.05 (0.05) 1.00 5.25 10,300 Year ended 08/31/06(d) 1.00 0.01 -- 0.01 (0.01) 1.00 0.90 25 - ------------------------------------------------------------------------------------------------------------------------------ PREMIER TAX-EXEMPT PORTFOLIO Year ended 08/31/09 1.00 0.01(b) 0.00 0.01 (0.01) 1.00 1.13 347,020 Year ended 08/31/08 1.00 0.03 0.00 0.03 (0.03) 1.00 2.66 262,081 Year ended 08/31/07 1.00 0.03 -- 0.03 (0.03) 1.00 3.53 50,445 Year ended 08/31/06 1.00 0.03 -- 0.03 (0.03) 1.00 3.04 7,707 Year ended 08/31/05(d) 1.00 0.01 -- 0.01 (0.01) 1.00 1.15 9,422 ______________________________________________________________________________________________________________________________ ============================================================================================================================== RATIO OF RATIO OF EXPENSES EXPENSES TO AVERAGE TO AVERAGE NET RATIO OF NET NET ASSETS ASSETS WITHOUT INVESTMENT WITH FEE WAIVERS FEE WAIVERS INCOME AND/OR EXPENSES AND/OR EXPENSES TO AVERAGE ABSORBED ABSORBED NET ASSETS - -------------------------------------------------------------------------- PREMIER PORTFOLIO Year ended 08/31/09 0.21%(c) 0.28%(c) 1.11%(c) Year ended 08/31/08 0.17 0.25 3.62 Year ended 08/31/07 0.17 0.25 5.23 Year ended 08/31/06 0.17 0.25 4.74 Year ended 08/31/05(d) 0.17(e) 0.25(e) 2.37(e) - -------------------------------------------------------------------------- PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Year ended 08/31/09 0.19(c) 0.26(c) 0.60(c) Year ended 08/31/08 0.17 0.25 2.60 Year ended 08/31/07 0.17 0.25 5.13 Year ended 08/31/06(d) 0.17(e) 0.25(e) 4.34(e) - -------------------------------------------------------------------------- PREMIER TAX-EXEMPT PORTFOLIO Year ended 08/31/09 0.28(c) 0.28(c) 1.09(c) Year ended 08/31/08 0.25 0.25 2.48 Year ended 08/31/07 0.25 0.25 3.46 Year ended 08/31/06 0.25 0.25 2.99 Year ended 08/31/05(d) 0.25(e) 0.25(e) 1.88(e) __________________________________________________________________________ ==========================================================================
(a) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year, if applicable. (b) Calculated using average shares outstanding. (c) Ratios are based on average daily net assets (000's omitted) of $3,703,222, $1,263,647, and $275,649 for Premier Portfolio, Premier U.S. Government Money Portfolio and Premier Tax-Exempt Portfolio, respectively. (d) Commencement date of February 25, 2005 for Premier Portfolio and Premier Tax-Exempt Portfolio, and June 28, 2006 for Premier U.S. Government Money Portfolio. (e) Annualized. 30 AIM TREASURER'S SERIES TRUST REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Trustees and Institutional Class Shareholders of AIM Treasurer's Series Trust: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the Institutional Class financial highlights present fairly, in all material respects, the financial position of Premier Portfolio, Premier Tax-Exempt Portfolio and Premier U.S. Government Money Portfolio (the three portfolios constituting AIM Treasurer's Series Trust, hereafter referred to as the "Trust") at August 31, 2009, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the Institutional Class financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Trust's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at August 31, 2009 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. PRICEWATERHOUSECOOPERS LLP October 16, 2009 Houston, Texas 31 AIM TREASURER'S SERIES TRUST CALCULATING YOUR ONGOING FUND EXPENSES EXAMPLE As a shareholder in the Institutional Class, you incur ongoing costs, such as management fees. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period March 1, 2009, through August 31, 2009. ACTUAL EXPENSES The table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled "Actual Expenses Paid During Period" to estimate the expenses you paid on your account during this period. HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES The table below also provides information about hypothetical account values and hypothetical expenses based on each Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
- ------------------------------------------------------------------------------------------------------------ HYPOTHETICAL (5% ANNUAL RETURN BEFORE ACTUAL EXPENSES) ------------------------------------------------------ BEGINNING ENDING EXPENSES ENDING EXPENSES ANNUALIZED INSTITUTIONAL ACCOUNT VALUE ACCOUNT VALUE PAID DURING ACCOUNT VALUE PAID DURING EXPENSE CLASS (03/01/09) (08/31/09)(1) PERIOD(2,4) (08/31/09) PERIOD(2,5) RATIO(3) - ------------------------------------------------------------------------------------------------------------ Premier Portfolio $1,000.00 $1,002.60 $1.11 $1,024.10 $1.12 0.22% - ------------------------------------------------------------------------------------------------------------ Premier U.S. Government Money Portfolio 1,000.00 1,001.50 1.01 1,024.20 1.02 0.20 - ------------------------------------------------------------------------------------------------------------ Premier Tax-Exempt Portfolio 1,000.00 1,002.20 1.36 1,023.84 1.38 0.25 - ------------------------------------------------------------------------------------------------------------
(1) The actual ending account value is based on the actual total return of the Funds for the period March 1, 2009, through August 31, 2009, after actual expenses and will differ from the hypothetical ending account value which is based on each Fund's expense ratio and a hypothetical annual return of 5% before expenses. (2) Expenses are equal to each Fund's annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half year. (3) Effective July 1, 2009, the Fund's advisor has contractually agreed, through at least June 30, 2010 to waive advisory fees equal to 0.03% of average daily net assets of Premier Portfolio and Premier U.S. Government Money Portfolio. In addition, effective May 1, 2009 for Premier U. S. Government Money Fund and effective September 19, 2009 for Premier Portfolio and Premier Tax-Exempt Portfolio, participation in the United States Treasury Temporary Guarantee Program (the "Program") ended on the Program's final expiration date. The annualized expense ratios restated as if these agreements had been in effect throughout the entire most recent fiscal half year are 0.22% and 0.25% for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated annualized expense ratios remained the same for Premier U.S. Government Money Portfolio. (4) The actual expenses paid restated as if the changes discussed above, in footnote 3, had been in effect throughout the entire most recent fiscal half year are $1.26 and $1.11 for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated actual expenses paid remained the same for Premier U.S. Government Money Portfolio (5) Hypothetical expenses are equal to the annualized expense ratio indicated in the table above multiplied by the average account value over the period, multiplied by 184/365 to reflect a one-half year period. The hypothetical expenses paid restated as if the changes discussed above, in footnote 3, had been in effect throughout the entire most recent fiscal half year period are $1.28 and $1.12 for Premier Portfolio and Premier Tax-Exempt Portfolio, respectively. Restated hypothetical expenses remained the same for Premier U.S. Government Money Portfolio 32 AIM TREASURER'S SERIES TRUST - ------------------------------------------------------------------------------------------------------------------------------------ APPROVAL OF INVESTMENT ADVISORY AND SUB-ADVISORY AGREEMENTS (PREMIER PORTFOLIO, PREMIER U.S. GOVERNMENT MONEY PORTFOLIO AND PREMIER TAX-EXEMPT PORTFOLIO) The Board of Trustees (the Board) of AIM managers for their assigned funds and and reasonableness of each Fund's Treasurer's Series Trust (the Trust) is other members of management and review investment advisory agreement and, if required under the Investment Company Act with these individuals the performance, applicable, sub-advisory contracts. The of 1940 to approve annually the renewal of investment objective(s), policies, Board considered all of the information each series portfolio of the Trust's strategies and limitations of these funds. provided to them, including information (each, a Fund) investment advisory provided at their meetings throughout the agreement with Invesco Aim Advisors, Inc. In addition to their meetings year as part of their ongoing oversight of (Invesco Aim) and the renewal of the throughout the year, the Sub-Committees such Fund, and did not identify any Master Intergroup Sub-Advisory Contract meet at designated contract renewal particular factor that was controlling. for Mutual Funds (the sub-advisory meetings each year to conduct an in-depth Each Trustee may have evaluated the contracts) with Invesco Asset Management review of the performance, fees, expenses, information provided differently from Deutschland GmbH, Invesco Asset Management and other matters related to their another Trustee and attributed different Limited, Invesco Asset Management (Japan) assigned funds. During the contract weight to the various factors. The Limited, Invesco Australia Limited, renewal process, the Trustees receive Trustees recognized that the advisory Invesco Global Asset Management (N.A.), comparative performance and fee data arrangements and resulting advisory fees Inc., Invesco Hong Kong Limited, Invesco regarding the AIM Funds prepared by an for each Fund and the other AIM Funds are Institutional (N.A.), Inc., Invesco Senior independent company, Lipper, Inc. the result of years of review and Secured Management, Inc. and Invesco (Lipper), under the direction and negotiation between the Trustees and Trimark Ltd. (collectively, the Affiliated supervision of the Senior Officer who also Invesco Aim, that the Trustees may focus Sub-Advisers) for Premier Portfolio and prepares a separate analysis of this to a greater extent on certain aspects of Premier Tax-Exempt Portfolio only. During information for the Trustees. Each these arrangements in some years than in contract renewal meetings held on June Sub-Committee then makes recommendations others, and that the Trustees' 16-17, 2009, the Board as a whole, and the to the Investments Committee regarding the deliberations and conclusions in a disinterested or "independent" Trustees fees and expenses of their assigned funds. particular year may be based in part on voting separately, approved the The Investments Committee considers each their deliberations and conclusions continuance of each Fund's investment Sub-Committee's recommendations and makes regarding these same arrangements advisory agreement and, if applicable, the its own recommendations regarding the fees throughout the year and in prior years. sub-advisory contracts for another year, and expenses of the AIM Funds to the full effective July 1, 2009. In doing so, the Board. The Investments Committee also The discussion below serves as a Board determined that each Fund's considers each Sub-Committee's summary of the Senior Officer's investment advisory agreement and , if recommendations in making its annual independent written evaluation with applicable, sub-advisory contracts are in recommendation to the Board whether to respect to each Fund's investment advisory the best interests of the Fund and its approve the continuance of each AIM Fund's agreement as well as a discussion of the shareholders and that the compensation to investment advisory agreement and, if material factors and related conclusions Invesco Aim and the Affiliated applicable, sub-advisory contracts for that formed the basis for the Board's Sub-Advisers under each Fund's investment another year. approval of each Fund's investment advisory agreement and sub-advisory advisory agreement and, if applicable, contracts is fair and reasonable. The independent Trustees met separately sub-advisory contracts. Unless otherwise during their evaluation of each Fund's stated, information set forth below is as THE BOARD'S FUND EVALUATION PROCESS investment advisory agreement and, if of June 17, 2009, and does not reflect any applicable, sub-advisory contracts with changes that may have occurred since that The Board's Investments Committee has independent legal counsel. The independent date, including but not limited to changes established three Sub-Committees that are Trustees were also assisted in their to a Fund's performance, advisory fees, responsible for overseeing the management annual evaluation of each Fund's expense limitations and/or fee waivers. of a number of the series portfolios of investment advisory agreement by the the AIM Funds. This SubCommittee structure Senior Officer. One responsibility of the FACTORS AND CONCLUSIONS AND SUMMARY OF permits the Trustees to focus on the Senior Officer is to manage the process by INDEPENDENT WRITTEN FEE EVALUATION performance of the AIM Funds that have which the AIM Funds' proposed management been assigned to them. The Sub-Committees fees are negotiated during the annual A. Nature, Extent and Quality of meet throughout the year to review the contract renewal process to ensure that Services Provided by Invesco Aim performance of their assigned funds, and they are negotiated in a manner that is at the Sub-Committees review monthly and arms' length and reasonable. Accordingly, The Board reviewed the advisory services quarterly comparative performance the Senior Officer must either supervise a provided to each Fund by Invesco Aim under information and periodic asset flow data competitive bidding process or prepare an the Fund's investment advisory agreement, for their assigned funds. These materials independent written evaluation. The Senior the performance of Invesco Aim in are prepared under the direction and Officer recommended that an independent providing these services, and the supervision of the independent Senior written evaluation be provided and, at the credentials and experience of the officers Officer, an officer of the AIM Funds who direction of the Board, prepared an and employees of Invesco Aim who provide reports directly to the independent independent written evaluation. these services. The Board's review of the Trustees. Over the course of each year, qualifications of Invesco Aim to provide the Sub-Committees meet with portfolio During the annual contract renewal these services included the Board's process, the Board considered the factors consideration of Invesco Aim's portfolio discussed below in evaluating the fairness and product review process, various back office support 33 AIM TREASURER'S SERIES TRUST continued
functions provided by Invesco Aim and its countries and securities of companies mance universe that are not managed by affiliates, and Invesco Aim's equity and located in such countries or on various Invesco Aim and against the Lipper U.S. fixed income trading operations. The Board types of investments and investment Government Money Market Funds Index. The concluded that the nature, extent and techniques. The Board noted that Board noted that the Fund's performance quality of the advisory services provided investment decisions for each Fund are was in the first quintile of its to each Fund by Invesco Aim are made by Invesco Institutional (N.A.), Inc. performance universe for the one, three appropriate and that Invesco Aim currently (Invesco Institutional). The Board and five year periods (the first quintile is providing satisfactory advisory concluded that the sub-advisory contracts being the best performing funds and the services in accordance with the terms of benefit each Fund and its shareholders by fifth quintile being the worst performing each Fund's investment advisory agreement. permitting Invesco Aim to utilize the funds). The Board noted that the Fund's In addition, based on their ongoing additional resources and talent of the performance was above the performance of meetings throughout the year with each Affiliated Sub-Advisers in managing such the Index for the one, three and five year Fund's portfolio manager or managers, the Fund. periods. Although the independent written Board concluded that these individuals are evaluation of the Fund's Senior Officer competent and able to continue to carry C. Fund Performance only considered Fund performance through out their responsibilities under each the most recent calendar year, the Board Fund's investment advisory agreement. PREMIER PORTFOLIO also reviewed more recent Fund performance and this review did not change their In determining whether to continue each The Board considered fund performance as a conclusions. The Board noted that, in Fund's investment advisory agreement, the relevant factor in considering whether to response to the Board's focus on fund Board considered the prior relationship approve the investment advisory agreement performance, Invesco Aim has taken a between Invesco Aim and the Fund, as well as well as the sub-advisory contracts, as number of actions intended to improve the as the Board's knowledge of Invesco Aim's Invesco Institutional currently manages investment process for the funds. operations, and concluded that it is assets of the Fund. beneficial to maintain the current PREMIER TAX-EXEMPT PORTFOLIO relationship, in part, because of such The Board compared the Fund's knowledge. The Board also considered the performance during the past one, three and The Board considered fund performance as a steps that Invesco Aim and its affiliates five calendar years to the performance of relevant factor in considering whether to continue to take to improve the quality all funds in the Lipper performance approve the investment advisory agreement and efficiency of the services they universe that are not managed by Invesco as well as the sub-advisory contracts as provide to the AIM Funds in the areas of Aim or an Affiliated Sub-Adviser and Invesco Institutional currently manages investment performance, product line against the Lipper Institutional Money assets of the Fund. diversification, distribution, fund Market Funds Index. The Board noted that operations, shareholder services and the Fund's performance was in the first The Board compared the Fund's compliance. The Board concluded that the quintile of its performance universe for performance during the past one, three and quality and efficiency of the services the one, three and five year periods (the five calendar years to the performance of Invesco Aim and its affiliates provide to first quintile being the best performing all funds in the Lipper performance the AIM Funds in each of these areas funds and the fifth quintile being the universe that are not managed by Invesco support the Board's approval of the worst performing funds). The Board noted Aim or an affiliated Sub-Adviser and continuance of the Fund's investment that the Fund's performance was above the against the Lipper U.S. Government Money advisory agreement. performance of the Index for the one, Market Funds Index. The Board noted that three and five year periods. Although the the Fund's performance was in the first B. Nature, Extent and Quality of independent written evaluation of the quintile of its performance universe for Services Provided by Affiliated Fund's Senior Officer only considered Fund the one, three and five year periods (the Sub-Advisers performance through the most recent first quintile being the best performing calendar year, the Board also reviewed funds and the fifth quintile being the (PREMIER PORTFOLIO AND PREMIER TAX-EXEMPT more recent Fund performance and this worst performing funds). The Board noted PORTFOLIO ONLY) review did not change their conclusions. that the Fund's performance was above the The Board noted that, in response to the performance of the Index for the one, The Board reviewed the services provided Board's focus on fund performance, Invesco three and five year periods. Although the by the Affiliated Sub-Advisers under the Aim has taken a number of actions intended independent written evaluation of the sub-advisory contracts and the credentials to improve the investment process for the Fund's Senior Officer only considered Fund and experience of the officers and funds. performance through the most recent employees of the Affiliated Sub-Advisers calendar year, the Board also reviewed who provide these services. The Board PREMIER U.S. GOVERNMENT MONEY PORTFOLIO more recent Fund performance and this concluded that the nature, extent and review did not change their conclusions. quality of the services provided by the The Board considered fund performance as a The Board noted that, in response to the Affiliated Sub-Advisers are appropriate. relevant factor in considering whether to Board's focus on fund performance, Invesco The Board noted that the Affiliated approve the investment advisory agreement. Aim has taken a number of actions intended Sub-Advisers, which have offices and to improve the investment process for the personnel that are geographically The Board compared the Fund's funds. dispersed in financial centers around the performance during the past one, three and world, can provide research and other five calendar years to the performance of information and make recommendations on all funds in the Lipper perfor- the markets and economies of various 34 AIM TREASURER'S SERIES TRUST continued
D. Advisory and Sub-Advisory Fees and advisory fee after fee waivers and other The Board noted that the Fund's Fee Waivers relevant factors, the Board concluded that contractual advisory fee rate was below the Fund's advisory and sub-advisory fees the median contractual advisory fee rate PREMIER PORTFOLIO are fair and reasonable. of funds in its expense group. The Board also reviewed the methodology used by The Board compared the Fund's contractual PREMIER U.S. GOVERNMENT MONEY PORTFOLIO Lipper in determining contractual fee advisory fee rate to the contractual rates, which includes using audited advisory fee rates of funds in the Fund's The Board compared the Fund's contractual financial data from the most recent annual Lipper expense group that are not managed advisory fee rate to the contractual report of each fund in the expense group by Invesco Aim or an Affiliated advisory fee rates of funds in the Fund's that was publicly available as of the end Sub-Adviser, at a common asset level. The Lipper expense group that are not managed of the past calendar year. The Board noted Board noted that the Fund's contractual by Invesco Aim, at a common asset level. that some comparative data was at least advisory fee rate was below the median The Board noted that the Fund's one year old and that other data did not contractual advisory fee rate of funds in contractual advisory fee rate was below reflect the market downturn that occurred its expense group. The Board also reviewed the median contractual advisory fee rate in the fourth quarter of 2008. the methodology used by Lipper in of funds in its expense group. The Board determining contractual fee rates, which also reviewed the methodology used by The Board also compared the Fund's includes using audited financial data from Lipper in determining contractual fee effective fee rate (the advisory fee after the most recent annual report of each fund rates, which includes using audited any advisory fee waivers and before any in the expense group that was publicly financial data from the most recent annual expense limitations/waivers) to the available as of the end of the past report of each fund in the expense group advisory fee rates of other domestic calendar year. The Board noted that some that was publicly available as of the end clients of Invesco Aim and its affiliates comparative data did not reflect the of the past calendar year. The Board noted with investment strategies comparable to market downturn that occurred in the that some comparative data was more than those of the Fund, including one mutual fourth quarter of 2008. The Board noted one year old and that other data did not fund advised by Invesco Aim. The Board that neither Invesco Aim nor its reflect the market downturn that occurred noted that the Fund's rate was below the affiliates serve as an adviser to other in the fourth quarter of 2008. The Board effective fee rate for the mutual fund. domestic mutual funds or other domestic noted that neither Invesco Aim nor its clients with investment strategies affiliates serve as an adviser to other The Board noted that Invesco Aim has comparable to those of the Fund. domestic mutual funds or other domestic not proposed any advisory fee waivers or clients with investment strategies expense limitations for the Fund. The The Board noted that Invesco Aim comparable to those of the Fund. Board concluded that it was not necessary contractually agreed to continue to waive at this time to discuss with Invesco Aim fees and/or limit expenses of the Fund The Board noted that Invesco Aim whether to implement any such waivers or through at least June 30, 2010 in an contractually agreed to continue to waive expense limitations because the Fund's amount necessary to limit total annual fees and/or limit expenses of the Fund total expenses were below the median total operating expenses to a specified through at least June 30, 2010 in an expenses of the funds in the Fund's percentage of average daily net assets for amount necessary to limit total annual expense group that are not managed by each class of the Fund. The Board noted operating expenses to a specified Invesco Aim or an Affiliated Sub-Adviser that the specified percentage before the percentage of average daily net assets for and below the effective fee rate of a waiver becomes effective has been each class of the Fund. The Board noted comparable mutual fund advised by Invesco increased effective July 1, 2009, and that that the specified percentage before the Aim. The Board also noted the "all-in" the waiver will have a smaller impact on waiver becomes effective has been nature of the Fund's contractual advisory expenses during the coming year. The Board increased effective July 1, 2009, and that fee, whereby Invesco Aim pays all of the also noted the "all-in" nature of the the waiver will have a smaller impact on Fund's ordinary operating expenses. Fund's contractual advisory fee, whereby expenses during the coming year. The Board Invesco Aim pays all of the Fund's also noted the "all-in" nature of the The Board also considered the services ordinary operating expenses. Fund's contractual advisory fee, whereby provided by the Affiliated Sub-Advisers Invesco Aim pays all of the Fund's pursuant to the sub-advisory contracts and The Board also considered the services ordinary operating expenses. the services provided by Invesco Aim provided by the Affiliated Sub-Advisers pursuant to the Fund's advisory agreement, pursuant to the sub-advisory contracts and After taking account of the Fund's as well as the allocation of fees between the services provided by Invesco Aim contractual advisory fee rate, the expense Invesco Aim and the Affiliated pursuant to the Fund's advisory agreement, limitations and other relevant factors, Sub-Advisers pursuant to the sub-advisory as well as the allocation of fees between the Board concluded that the Fund's contracts. The Board noted that the Invesco Aim and the Affiliated advisory fees are fair and reasonable. sub-advisory fees have no direct effect on Sub-Advisers pursuant to the sub-advisory the Fund or its shareholders, as they are contracts. The Board noted that the PREMIER TAX-EXEMPT PORTFOLIO paid by Invesco Aim to the Affiliated sub-advisory fees have no direct effect on Sub-Advisers, and that Invesco Aim and the the Fund or its shareholders, as they are The Board compared the Fund's contractual Affiliated Sub-Advisers are affiliates. paid by Invesco Aim to the Affiliated advisory fee rate to the contractual Sub-Advisers, and that Invesco Aim and the advisory fee rates of funds in the Fund's After taking account of the Fund's Affiliated Sub-Advisers are affiliates. Lipper expense group that are not managed contractual advisory fee rate, the by Invesco Aim or an Affiliated contractual sub-advisory fee rate, the After taking account of the Fund's Sub-Adviser, at a common asset level. comparative advisory fee information contractual advisory fee rate, the contractual sub-advisory fee rate, the 35 AIM TREASURER'S SERIES TRUST continued
discussed above and other relevant Affiliated Sub-Adviser is financially factors, the Board concluded that the sound and has the resources necessary to Fund's advisory and sub-advisory fees are perform its obligations under the fair and reasonable. sub-advisory contracts, and concluded that each Affiliated Sub-Adviser has the E. Economies of Scale and Breakpoints financial resources necessary to fulfill these obligations. The Board considered the extent to which there are economies of scale in the G. Collateral Benefits to Invesco Aim provision of advisory services to each and its Affiliates Fund. The Board also considered whether each Fund benefits from such economies of The Board considered various other scale through contractual breakpoints in benefits received by Invesco Aim and its each Fund's advisory fee schedule. The affiliates resulting from Invesco Aim's Board noted that each Fund's contractual relationship with each Fund, including the advisory fee schedule does not include any fees received by Invesco Aim and its breakpoints. The Board noted that each affiliates for their provision of Fund shares directly in economies of scale administrative, transfer agency and through lower fees charged by third party distribution services to each Fund. The service providers based on the combined Board considered the performance of size of all of the AIM Funds and Invesco Aim and its affiliates in affiliates. providing these services and the organizational structure employed by F. Profitability and Financial Resources Invesco Aim and its affiliates to provide these services. The Board also considered The Board reviewed information from that these services are provided to each Invesco Aim concerning the costs of the Fund pursuant to written contracts that advisory and other services that Invesco are reviewed and approved on an annual Aim and its affiliates provide to each basis by the Board. The Board concluded Fund and the profitability of Invesco Aim that Invesco Aim and its affiliates are and its affiliates in providing these providing these services in a satisfactory services. The Board also reviewed manner and in accordance with the terms of information concerning the financial their contracts, and are qualified to condition of Invesco Aim and its continue to provide these services to each affiliates. The Board reviewed with Fund. Invesco Aim the methodology used to prepare the profitability information. The The Board considered the benefits Board considered the overall profitability realized by Invesco Aim and the Affiliated of Invesco Ltd., the ultimate parent of Sub-Advisers as a result of portfolio Invesco Aim and the Affiliated brokerage transactions executed through Sub-Advisers, and of Invesco Aim, as well "soft dollar" arrangements. The Board as the profitability of Invesco Aim in noted that soft dollar arrangements shift connection with managing each Fund. The the payment obligation for research and Board noted that Invesco Aim continues to execution services from Invesco Aim and operate at a net profit, although the the Affiliated Sub-Advisers to the funds reduction of assets under management as a and therefore may reduce Invesco Aim's and result of market movements and the the Affiliated Sub-Advisers' expenses. The increase in voluntary fee waivers for Board concluded that Invesco Aim's and the affiliated money market funds have reduced Affiliated Sub-Advisers' soft dollar the profitability of Invesco Aim and its arrangements are appropriate. The Board affiliates. The Board concluded that each also concluded that, based on their review Fund's fees are fair and reasonable, and and representations made by the Chief that the level of profits realized by Compliance Officer of Invesco Aim, these Invesco Aim and its affiliates from arrangements are consistent with providing services to each Fund is not regulatory requirements. excessive in light of the nature, quality and extent of the services provided. The Board considered whether Invesco Aim is financially sound and has the resources necessary to perform its obligations under each Fund's investment advisory agreement, and concluded that Invesco Aim has the financial resources necessary to fulfill these obligations. The Board also considered whether each 36 AIM TREASURER'S SERIES TRUST
TAX INFORMATION Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisors. The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement. The Funds designate the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended August 31, 2009: FEDERAL AND STATE INCOME TAX
QUALIFIED DIVIDEND CORPORATE DIVIDENDS U.S. TREASURY TAX-EXEMPT INCOME INCOME* RECEIVED DEDUCTION* OBLIGATIONS* DIVIDENDS* - ----------------------------------------------------------------------------------------------------------------------------- Premier Portfolio 0% 0% 0.01% -- - ----------------------------------------------------------------------------------------------------------------------------- Premier U.S. Government Money Portfolio 0% 0% 0.65% -- - ----------------------------------------------------------------------------------------------------------------------------- Premier Tax-Exempt Portfolio 0% 0% -- 100% - -----------------------------------------------------------------------------------------------------------------------------
* The above percentage is based on ordinary income dividends paid to shareholders during the Fund's fiscal year. 37 AIM TREASURER'S SERIES TRUST TRUSTEES AND OFFICERS The address of each trustee and officer of AIM Treasurer's Series Trust (the "Trust"), is 11 Greenway Plaza, Suite 100, Houston, Texas 77046-1173. Each trustee oversees 105 portfolios in the AIM Funds complex. The trustees serve for the life of the Trust, subject to their earlier death, incapacitation, resignation, retirement or removal as more specifically provided in the Trust's organizational documents. Each officer serves for a one year term or until their successors are elected and qualified. Column two below includes length of time served with predecessor entities, if any.
NAME, YEAR OF BIRTH AND TRUSTEE AND/ OTHER POSITION(S) HELD WITH THE OR OFFICER PRINCIPAL OCCUPATION(S) DIRECTORSHIP(S) TRUST SINCE DURING PAST 5 YEARS HELD BY TRUSTEE - ------------------------------------------------------------------------------------------------------------------------------------ INTERESTED PERSONS - ------------------------------------------------------------------------------------------------------------------------------------ Martin L. Flanagan(1) -- 1960 2007 Executive Director, Chief Executive Officer and President, None Trustee Invesco Ltd. (ultimate parent of Invesco Aim and a global investment management firm); Chairman, Invesco Aim Advisors, Inc. (registered investment advisor); Trustee, The AIM Family of Funds(R); Vice Chairman, Investment Company Institute; and Member of Executive Board, SMU Cox School of Business Formerly: Director, Chairman, Chief Executive Officer and President, 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 Aim and a global investment management firm); Director, Invesco Ltd. and Chairman, Investment Company Institute - ------------------------------------------------------------------------------------------------------------------------------------ Philip A. Taylor(2) -- 1954 2006 Head of North American Retail and Senior Managing Director, None Trustee, President and Invesco Ltd.; Director, Chief Executive Officer and Principal Executive Officer President, Invesco Aim Advisors, Inc. and 1371 Preferred Inc. (holding company); Director, Chairman, Chief Executive Officer and President, Invesco Aim Management Group, Inc. (financial services holding company) and Invesco Aim Capital Management, Inc. (registered investment advisor); Director and President, INVESCO Funds Group, Inc. (registered investment advisor and registered transfer agent) and AIM GP Canada Inc. (general partner for limited partnerships); Director, Invesco Aim Distributors, Inc. (registered broker dealer); Director and Chairman, Invesco Aim Investment Services, Inc. (registered transfer agent) and INVESCO Distributors, Inc. (registered broker dealer); Director, President and Chairman, INVESCO Inc. (holding company) and Invesco Canada Holdings Inc. (holding company); Chief Executive Officer, AIM Trimark Corporate Class Inc. (corporate mutual fund company) and AIM Trimark Canada Fund Inc. (corporate mutual fund company); Director and Chief Executive Officer, Invesco Trimark Ltd./Invesco Trimark Ltee (registered investment advisor and registered transfer agent) and Invesco Trimark Dealer Inc. (registered broker dealer); Trustee, President and Principal Executive Officer, The AIM Family of Funds(R) (other than AIM Treasurer's Series Trust and Short-Term Investments Trust); Trustee and Executive Vice President, The AIM Family of Funds(R) (AIM Treasurer's Series Trust and Short-Term Investments Trust only); and Manager, Invesco PowerShares Capital Management LLC Formerly: President, Invesco Trimark Dealer Inc.; Director and President, AIM Trimark Corporate Class Inc. and AIM Trimark Canada Fund Inc.; Director and President, Invesco Trimark Ltd./Invesco Trimark Ltee; Senior Managing Director, Invesco Holding Company Limited; Trustee and Executive Vice President, Tax-Free Investments Trust; Director and Chairman, Fund Management Company (former registered broker dealer); President and Principal Executive Officer, The AIM Family of Funds(R) (AIM Treasurer's Series Trust, Short-Term Investments Trust and Tax-Free Investments Trust only); President, AIM Trimark Global Fund Inc. and AIM Trimark Canada Fund Inc. - ------------------------------------------------------------------------------------------------------------------------------------ INDEPENDENT TRUSTEES - ------------------------------------------------------------------------------------------------------------------------------------ Bruce L. Crockett -- 1944 2003 Chairman, Crockett Technology Associates (technology ACE Limited (insurance Trustee and Chair consulting company) company); Captaris, Inc. (unified messaging provider); and Investment Company Institute - ------------------------------------------------------------------------------------------------------------------------------------ Bob R. Baker -- 1936 1983 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Frank S. Bayley -- 1939 2003 Retired None Trustee Formerly: Director, Badgley Funds, Inc. (registered investment company) (2 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ James T. Bunch -- 1942 2000 Founder, Green, Manning & Bunch Ltd., (investment banking Board of Governors, Trustee firm) Western Golf Association/Evans Scholars Foundation and Executive Committee, United States Golf Association - ------------------------------------------------------------------------------------------------------------------------------------ Albert R. Dowden -- 1941 2003 Director of a number of public and private business Board of Nature's Trustee corporations, including the Boss Group Ltd. (private Sunshine Products, Inc. investment and management); Continental Energy Services, LLC (oil and gas pipeline service); Reich & Tang Funds (registered investment company), and Homeowners of America Holding Corporation/Homeowners of America Insurance Company (property casualty company) Formerly: Director, CompuDyne Corporation (provider of product and services to the public security market); Director, President and Chief Executive Officer, Volvo Group North America, Inc.; Director, Annuity and Life Re (Holdings), Ltd. (reinsurance company); Senior Vice President, AB Volvo; Director of various public and private corporations - ------------------------------------------------------------------------------------------------------------------------------------ Jack M. Fields -- 1952 2003 Chief Executive Officer, Twenty First Century Group, Inc. Administaff Trustee (government affairs company); and Owner and Chief Executive Officer, Dos Angelos Ranch, L.P. (cattle, hunting, corporate entertainment), Discovery Global Education Fund (non-profit) and Cross Timbers Quail Research Ranch (non-profit) Formerly: Chief Executive Officer, Texana Timber LP (sustainable forestry company) - ------------------------------------------------------------------------------------------------------------------------------------ Carl Frischling -- 1937 2003 Partner, law firm of Kramer Levin Naftalis and Frankel LLP Director, Reich & Tang Trustee Funds (16 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ Prema Mathai-Davis -- 1950 2003 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Lewis F. Pennock -- 1942 2003 Partner, law firm of Pennock & Cooper None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Larry Soll -- 1942 1997 Retired None Trustee - ------------------------------------------------------------------------------------------------------------------------------------ Raymond Stickel, Jr. -- 1944 2005 Retired None Trustee Formerly: Director, Mainstay VP Series Funds, Inc. (25 portfolios) - ------------------------------------------------------------------------------------------------------------------------------------
(1) Mr. Flanagan is considered an interested person of the Trust because he is an officer of the advisor to the Trust, and an officer and a director of Invesco Ltd., ultimate parent of the advisor to the Trust. (2) Mr. Taylor is considered an interested person of the Trust because he is an officer and a director of the advisor to, and a director of the principal underwriter of, the Trust. T-1 Trustees and Officers - (continued)
NAME, YEAR OF BIRTH AND TRUSTEE AND/ OTHER POSITION(S) HELD WITH THE OR OFFICER PRINCIPAL OCCUPATION(S) DIRECTORSHIP(S) TRUST SINCE DURING PAST 5 YEARS HELD BY TRUSTEE - ------------------------------------------------------------------------------------------------------------------------------------ OTHER OFFICERS - ------------------------------------------------------------------------------------------------------------------------------------ Karen Dunn Kelley -- 1960 2003 Head of Invesco's World Wide Fixed Income and Cash N/A Vice President Management Group; Vice President, Invesco Institutional (N.A.), Inc. (registered investment advisor); Director of Cash Management and Senior Vice President, Invesco Aim Advisors, Inc. and Invesco Aim Capital Management, Inc.; Executive Vice President, Invesco Aim Distributors, Inc.; Senior Vice President, Invesco Aim Management Group, Inc.; Vice President, Invesco Institutional (N.A.), Inc. (registered investment advisor); and Director, Invesco Mortgage Capital Inc.; President and Principal Executive Officer, The AIM Family of Funds(R) (AIM Treasurer's Series Trust and Short-Term Investments Trust only); and Vice President, The AIM Family of Funds(R) (other than AIM Treasurer's Series Trust and Short-Term Investments Trust) Formerly: President and Principal Executive Officer, Tax-Free Investments Trust; Director and President, Fund Management Company; Chief Cash Management Officer and Managing Director, Invesco Aim Capital Management, Inc.; and Vice President, Invesco Aim Advisors, Inc. and The AIM Family of Funds(R) (AIM Treasurer's Series Trust, Short-Term Investments Trust and Tax-Free Investments Trust only) - ------------------------------------------------------------------------------------------------------------------------------------ Russell C. Burk -- 1958 2005 Senior Vice President and Senior Officer of The AIM Family N/A Senior Vice President and of Funds(R) Senior Officer Formerly: Director of Compliance and Assistant General Counsel, ICON Advisers, Inc.; Financial Consultant, Merrill Lynch; General Counsel and Director of Compliance, ALPS Mutual Funds, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ John M. Zerr -- 1962 2006 Director, Senior Vice President, Secretary and General N/A Senior Vice President, Chief Counsel, Invesco Aim Management Group, Inc., Invesco Aim Legal Officer and Secretary Advisors, Inc. and Invesco Aim Capital Management, Inc.; Director, Senior Vice President and Secretary, Invesco Aim Distributors, Inc.; Director, Vice President and Secretary, Invesco Aim Investment Services, Inc. and INVESCO Distributors, Inc.; Director and Vice President, INVESCO Funds Group, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The AIM Family of Funds(R); and Manager, Invesco PowerShares Capital Management LLC Formerly: Director, Vice President and Secretary, Fund Management Company; Vice President, Invesco Aim Capital Management, Inc.; Chief Operating Officer and General Counsel, Liberty Ridge Capital, Inc. (an investment adviser); Vice President and Secretary, PBHG Funds (an investment company); Vice President and Secretary, PBHG Insurance Series Fund (an investment company); Chief Operating Officer, General Counsel and Secretary, Old Mutual Investment Partners (a broker-dealer); General Counsel and Secretary, Old Mutual Fund Services (an administrator); General Counsel and Secretary, Old Mutual Shareholder Services (a shareholder servicing center); Executive Vice President, General Counsel and Secretary, Old Mutual Capital, Inc. (an investment adviser); and Vice President and Secretary, Old Mutual Advisors Funds (an investment company) - ------------------------------------------------------------------------------------------------------------------------------------ Lisa O. Brinkley -- 1959 2004 Global Compliance Director, Invesco Ltd.; and Vice N/A Vice President President, The AIM Family of Funds(R) Formerly: Senior Vice President, Invesco Aim Management Group, Inc.; Senior Vice President and Chief Compliance Officer, Invesco Aim Advisors, Inc. and The AIM Family of Funds(R); Vice President and Chief Compliance Officer, Invesco Aim Capital Management, Inc. and Invesco Aim Distributors, Inc.; Vice President, Invesco Aim Investment Services, Inc. and Fund Management Company - ------------------------------------------------------------------------------------------------------------------------------------ Kevin M. Carome -- 1956 2003 General Counsel, Secretary and Senior Managing Director, N/A Vice President Invesco Ltd.; Director, Invesco Holding Company Limited and INVESCO Funds Group, Inc.; Director and Executive Vice President, IVZ, Inc., Invesco Group Services, Inc., .Invesco North American Holdings, Inc. and Invesco Investments (Bermuda) Ltd.; and Vice President, The AIM Family of Funds(R) Formerly: Senior Managing Director and Secretary, Invesco North American Holdings, Inc.; Vice President and Secretary, IVZ, Inc. and Invesco Group Services, Inc.; Senior Managing Director and Secretary, Invesco Holding Company Limited; Director, Senior Vice President, Secretary and General Counsel, Invesco Aim Management Group, Inc. and Invesco Aim Advisors, Inc.; Senior Vice President, Invesco Aim Distributors, Inc.; Director, General Counsel and Vice President, Fund Management Company; Vice President, Invesco Aim Capital Management, Inc. and Invesco Aim Investment Services, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The AIM Family of Funds(R); Director and Vice President, INVESCO Distributors, Inc.; and Chief Executive Officer and President, INVESCO Funds Group, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Sheri Morris -- 1964 2003 Vice President, Treasurer and Principal Financial Officer, N/A Vice President, Treasurer and The AIM Family of Funds(R); and Vice President, Invesco Aim Principal Financial Officer Advisors, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management Inc. Formerly: Assistant Vice President and Assistant Treasurer, The AIM Family of Funds(R) and Assistant Vice President, Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Lance A. Rejsek -- 1967 2005 Anti-Money Laundering Compliance Officer, Invesco Aim N/A Anti-Money Laundering Advisors, Inc., Invesco Aim Capital Management, Inc., Compliance Officer Invesco Aim Distributors, Inc., Invesco Aim Investment Services, Inc., Invesco Aim Private Asset Management, Inc. and The AIM Family of Funds(R) Formerly: Anti-Money Laundering Compliance Officer, Fund Management Company; and Manager of the Fraud Prevention Department, Invesco Aim Investment Services, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Todd L. Spillane -- 1958 2006 Senior Vice President, Invesco Aim Management Group, Inc.; N/A Chief Compliance Officer Senior Vice President and Chief Compliance Officer, Invesco Aim Advisors, Inc. and Invesco Aim Capital Management, Inc.; Chief Compliance Officer, The AIM Family of Funds(R), Invesco Global Asset Management (N.A.), Inc. (registered investment advisor), Invesco Institutional (N.A.), Inc., (registered investment advisor), INVESCO Private Capital Investments, Inc. (holding company), Invesco Private Capital, Inc. (registered investment advisor) and Invesco Senior Secured Management, Inc. (registered investment advisor); and Vice President, Invesco Aim Distributors, Inc. and Invesco Aim Investment Services, Inc. Formerly: Vice President, Invesco Aim Capital Management, Inc. and Fund Management Company; and Global Head of Product Development, AIG-Global Investment Group, Inc. - ------------------------------------------------------------------------------------------------------------------------------------
The Statement of Additional Information of the Trust includes additional information about the Fund's Trustees and is available upon request, without charge, by calling 1.800.959.4246. Please refer to the Fund's prospectus for information on the Fund's sub-advisors. OFFICE OF THE FUND INVESTMENT ADVISOR DISTRIBUTOR AUDITORS 11 Greenway Plaza Invesco Aim Advisors, Inc. Invesco Aim Distributors, Inc. PricewaterhouseCoopers LLP Suite 100 11 Greenway Plaza 11 Greenway Plaza 1201 Louisiana Street Houston, TX 77046-1173 Suite 100 Suite 100 Suite 2900 Houston, TX 77046-1173 Houston, TX 77046-1173 Houston, TX 77002-5678 COUNSEL TO THE FUND Stradley Ronon Stevens & COUNSEL TO THE TRANSFER AGENT CUSTODIAN Young, LLP INDEPENDENT TRUSTEES Invesco Aim Investment Services, Inc. Bank of New York Mellon 2600 One Commerce Square Kramer, Levin, Naftalis & Frankel LLP P.O. Box 4739 2 Hanson Place Philadelphia, PA 19103 1177 Avenue of the Americas Houston, TX 77210-4739 Brooklyn, NY 11217-1431 New York, NY 10036-2714
T-2 - ------------------------------------------------------------------------------------------------------------------------------------ IMPORTANT NOTICE REGARDING DELIVERY OF SECURITY HOLDER DOCUMENTS To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Aim Investment Services, Inc. at 800 959 4246 or contact your financial institution. We will begin sending you individual copies for each account within thirty days after receiving your request. FUND HOLDINGS AND PROXY VOTING INFORMATION The Fund provides a complete list of its holdings four times in each fiscal year, at quarter-ends. For the second and fourth quarters, the list appears in the Fund's semiannual and annual reports to shareholders. For the first and third quarters, the Fund files the lists with the Securities and Exchange Commission (SEC) on Form N-Q. The most recent list of portfolio holdings is available at invescoaim.com. Qualified persons, including beneficial owners of the Fund's shares and prospective investors, may obtain access to the website by calling the distributor at 800 659 1005 and selecting option 2. To locate each Fund's portfolio holdings information, access the Fund's overview page. Links to each Fund's complete quarterly holdings will be available on this Web page. Shareholders can also look up the Fund's Form N-Q filings on the SEC website, sec.gov. The Fund's Forms N-Q may be reviewed and copied at the SEC Public Reference Room in Washington, D.C. You can obtain information on the operation of the Public Reference Room, including information about duplicating fee charges, by calling 202 942 8090 or 800 732 0330, or by electronic request at the following email address: publicinfo@sec.gov. The SEC file numbers for the Fund are 811-05460 and 033-19862. A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, from our Client Services department at 800 959 4246 or on the Invesco Aim website, invescoaim.com. On the home page, scroll down and click on "Proxy Policy." The information is also available on the SEC website, sec.gov. Information regarding how the Fund voted proxies related to its portfolio securities during the 12 months ended June 30, 2009, is available at our website. Go to invescoaim.com, access the "About Us" tab, click on "Required Notices" and then click on "Proxy Voting Activity." Next, select the Fund from the drop-down menu. This information is also available on the SEC website, sec.gov. If used after January 20, 2010, this report must be accompanied by a Fund fact sheet for the most recent month-end. Invesco Aim- service mark - is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc., Invesco Aim Private Asset Management, Inc. and Invesco PowerShares Capital Management LLC are the investment advisors for the products and services represented by Invesco Aim; they each provide investment advisory services to individual and institutional clients and do not sell securities. Please refer to each fund's prospectus for information on the fund's subadvisors. Invesco Aim Distributors, Inc. is the U.S. distributor for the retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for the STIC Global Funds represented by Invesco Aim. All entities are indirect, wholly owned subsidiaries of Invesco Ltd. It is anticipated that on or about the end of the fourth quarter of 2009, Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc., Invesco Aim Private Asset Management, Inc. and Invesco Global Asset Management (N.A.), Inc. will be merged into Invesco Institutional (N.A.), Inc., and the consolidated adviser [INVESCO AIM LOGO] firm will be renamed Invesco Advisers, Inc. Additional information will be posted at invescoaim.com on or - SERVICE MARK - about the end of the fourth quarter of 2009. invescoaim.com CM-TST-AR-2 Invesco Aim Distributors, Inc.
ITEM 2. CODE OF ETHICS. As of the end of the period covered by this report, the Registrant had adopted a code of ethics (the "Code") that applies to the Registrant's principal executive officer ("PEO") and principal financial officer ("PFO"). There were no amendments to the Code during the period covered by the report. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code to the PEO or PFO during the period covered by this report. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. The Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its Audit Committee. The Audit Committee financial expert is Raymond Stickel, Jr. Mr. Stickel is "independent" within the meaning of that term as used in Form N-CSR. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. FEES BILLED BY PWC RELATED TO THE REGISTRANT PWC billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as follows:
Percentage of Fees Percentage of Fees Billed Applicable to Billed Applicable to Non-Audit Services Non-Audit Services Provided for fiscal Fees Billed for Provided for fiscal Fees Billed for year end 2008 Services Rendered to year end 2009 Services Rendered to Pursuant to Waiver of the Registrant for Pursuant to Waiver of the Registrant for Pre-Approval fiscal year end 2009 Pre-Approval Requirement(1) fiscal year end 2008 Requirement(1) -------------------- --------------------------- -------------------- --------------------- Audit Fees $71,091 N/A $71,815 N/A Audit-Related Fees $ 0 0% $ 0 0% Tax Fees(2) $25,039 0% $16,282 0% All Other Fees $ 0 0% $ 0 0% ------- ------- Total Fees $96,130 0% $88,097 0%
PWC billed the Registrant aggregate non-audit fees of $25,039 for the fiscal year ended 2009, and $16,282 for the fiscal year ended 2008, for non-audit services rendered to the Registrant. - ---------- (1) With respect to the provision of non-audit services, the pre-approval requirement is waived pursuant to a de minimis exception if (i) such services were not recognized as non-audit services by the Registrant at the time of engagement, (ii) the aggregate amount of all such services provided is no more than 5% of the aggregate audit and non-audit fees paid by the Registrant to PWC during a fiscal year; and (iii) such services are promptly brought to the attention of the Registrant's Audit Committee and approved by the Registrant's Audit Committee prior to the completion of the audit. (2) Tax fees for the fiscal year end August 31, 2009 includes fees billed for reviewing tax returns and consultation services. Tax fees for the fiscal year end August 31, 2008 includes fees billed for reviewing tax returns and consultation services. FEES BILLED BY PWC RELATED TO INVESCO AIM AND INVESCO AIM AFFILIATES PWC billed Invesco Aim Advisors, Inc. ("Invesco Aim"), the Registrant's adviser, and any entity controlling, controlled by or under common control with Invesco Aim that provides ongoing services to the Registrant ("Invesco Aim Affiliates") aggregate fees for pre-approved non-audit services rendered to Invesco Aim and Invesco Aim Affiliates for the last two fiscal years as follows:
Fees Billed for Non- Fees Billed for Non- Audit Services Audit Services Rendered to Invesco Percentage of Fees Rendered to Invesco Percentage of Fees Aim and Invesco Aim Billed Applicable to Aim and Invesco Aim Billed Applicable to Affiliates for fiscal Non-Audit Services Affiliates for fiscal Non-Audit Services year end 2009 That Provided for fiscal year year end 2008 That Provided for fiscal year Were Required end 2009 Pursuant to Were Required end 2008 Pursuant to to be Pre-Approved Waiver of Pre- to be Pre-Approved Waiver of Pre- by the Registrant's Approval by the Registrant's Approval Audit Committee Requirement(1) Audit Committee Requirement(1) --------------------- ------------------------ --------------------- ------------------------ Audit-Related Fees $0 0% $0 0% Tax Fees $0 0% $0 0% All Other Fees $0 0% $0 0% --- --- Total Fees(2) $0 0% $0 0%
- ---------- (1) With respect to the provision of non-audit services, the pre-approval requirement is waived pursuant to a de minimis exception if (i) such services were not recognized as non-audit services by the Registrant at the time of engagement, (ii) the aggregate amount of all such services provided is no more than 5% of the aggregate audit and non-audit fees paid by the Registrant, Invesco Aim and Invesco Aim Affiliates to PWC during a fiscal year; and (iii) such services are promptly brought to the attention of the Registrant's Audit Committee and approved by the Registrant's Audit Committee prior to the completion of the audit. (2) Including the fees for services not required to be pre-approved by the registrant's audit committee, PWC billed Invesco Aim and Invesco Aim Affiliates aggregate non-audit fees of $0 for the fiscal year ended 2009, and $0 for the fiscal year ended 2008, for non-audit services rendered to Invesco Aim and Invesco Aim Affiliates. The Audit Committee also has considered whether the provision of non-audit services that were rendered to Invesco Aim and Invesco Aim Affiliates that were not required to be pre-approved pursuant to SEC regulations, if any, is compatible with maintaining PWC's independence. To the extent that such services were provided, the Audit Committee determined that the provision of such services is compatible with PWC maintaining independence with respect to the Registrant. PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES POLICIES AND PROCEDURES As adopted by the Audit Committees of the AIM Funds (the "Funds") Last Amended September 18, 2006 STATEMENT OF PRINCIPLES Under the Sarbanes-Oxley Act of 2002 and rules adopted by the Securities and Exchange Commission ("SEC") ("Rules"), the Audit Committees of the Funds' (the "Audit Committee") Board of Trustees (the "Board") are responsible for the appointment, compensation and oversight of the work of independent accountants (an "Auditor"). As part of this responsibility and to assure that the Auditor's independence is not impaired, the Audit Committees pre-approve the audit and non-audit services provided to the Funds by each Auditor, as well as all non-audit services provided by the Auditor to the Funds' investment adviser and to affiliates of the adviser that provide ongoing services to the Funds ("Service Affiliates") if the services directly impact the Funds' operations or financial reporting. The SEC Rules also specify the types of services that an Auditor may not provide to its audit client. The following policies and procedures comply with the requirements for pre-approval and provide a mechanism by which management of the Funds may request and secure pre-approval of audit and non-audit services in an orderly manner with minimal disruption to normal business operations. Proposed services either may be pre-approved without consideration of specific case-by-case services by the Audit Committees ("general pre-approval") or require the specific pre-approval of the Audit Committees ("specific pre-approval"). As set forth in these policies and procedures, unless a type of service has received general pre-approval, it will require specific pre-approval by the Audit Committees. Additionally, any fees exceeding 110% of estimated pre-approved fee levels provided at the time the service was pre-approved will also require specific approval by the Audit Committees before payment is made. The Audit Committees will also consider the impact of additional fees on the Auditor's independence when determining whether to approve any additional fees for previously pre-approved services. The Audit Committees will annually review and generally pre-approve the services that may be provided by each Auditor without obtaining specific pre-approval from the Audit Committee. The term of any general pre-approval runs from the date of such pre-approval through September 30th of the following year, unless the Audit Committees consider a different period and state otherwise. The Audit Committees will add to or subtract from the list of general pre-approved services from time to time, based on subsequent determinations. The purpose of these policies and procedures is to set forth the guidelines to assist the Audit Committees in fulfilling their responsibilities. DELEGATION The Audit Committees may from time to time delegate pre-approval authority to one or more of its members who are Independent Trustees. All decisions to pre-approve a service by a delegated member shall be reported to the Audit Committee at its next quarterly meeting. AUDIT SERVICES The annual audit services engagement terms will be subject to specific pre-approval of the Audit Committees. Audit services include the annual financial statement audit and other procedures such as tax provision work that is required to be performed by the independent auditor to be able to form an opinion on the Funds' financial statements. The Audit Committee will obtain, review and consider sufficient information concerning the proposed Auditor to make a reasonable evaluation of the Auditor's qualifications and independence. In addition to the annual Audit services engagement, the Audit Committees may grant either general or specific pre-approval of other audit services, which are those services that only the independent auditor reasonably can provide. Other Audit services may include services such as issuing consents for the inclusion of audited financial statements with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings. NON-AUDIT SERVICES The Audit Committees may provide either general or specific pre-approval of any non-audit services to the Funds and its Service Affiliates if the Audit Committees believe that the provision of the service will not impair the independence of the Auditor, is consistent with the SEC's Rules on auditor independence, and otherwise conforms to the Audit Committee's general principles and policies as set forth herein. AUDIT-RELATED SERVICES "Audit-related services" are assurance and related services that are reasonably related to the performance of the audit or review of the Fund's financial statements or that are traditionally performed by the independent auditor. Audit-related services include, among others, accounting consultations related to accounting, financial reporting or disclosure matters not classified as "Audit services"; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; and agreed-upon procedures related to mergers, compliance with ratings agency requirements and interfund lending activities. TAX SERVICES "Tax services" include, but are not limited to, the review and signing of the Funds' federal tax returns, the review of required distributions by the Funds and consultations regarding tax matters such as the tax treatment of new investments or the impact of new regulations. The Audit Committee will scrutinize carefully the retention of the Auditor in connection with a transaction initially recommended by the Auditor, the major business purpose of which may be tax avoidance or the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee will consult with the Funds' Treasurer (or his or her designee) and may consult with outside counsel or advisors as necessary to ensure the consistency of Tax services rendered by the Auditor with the foregoing policy. No Auditor shall represent any Fund or any Service Affiliate before a tax court, district court or federal court of claims. Under rules adopted by the Public Company Accounting Oversight Board and approved by the SEC, in connection with seeking Audit Committee pre-approval of permissible Tax services, the Auditor shall: 1. Describe in writing to the Audit Committees, which writing may be in the form of the proposed engagement letter: a. The scope of the service, the fee structure for the engagement, and any side letter or amendment to the engagement letter, or any other agreement between the Auditor and the Fund, relating to the service; and b. Any compensation arrangement or other agreement, such as a referral agreement, a referral fee or fee-sharing arrangement, between the Auditor and any person (other than the Fund) with respect to the promoting, marketing, or recommending of a transaction covered by the service; 2. Discuss with the Audit Committees the potential effects of the services on the independence of the Auditor; and 3. Document the substance of its discussion with the Audit Committees. ALL OTHER AUDITOR SERVICES The Audit Committees may pre-approve non-audit services classified as "All other services" that are not categorically prohibited by the SEC, as listed in Exhibit 1 to this policy. PRE-APPROVAL FEE LEVELS OR ESTABLISHED AMOUNTS Pre-approval of estimated fees or established amounts for services to be provided by the Auditor under general or specific pre-approval policies will be set periodically by the Audit Committees. Any proposed fees exceeding 110% of the maximum estimated pre-approved fees or established amounts for pre-approved audit and non-audit services will be reported to the Audit Committees at the quarterly Audit Committees meeting and will require specific approval by the Audit Committees before payment is made. The Audit Committee will always factor in the overall relationship of fees for audit and non-audit services in determining whether to pre-approve any such services and in determining whether to approve any additional fees exceeding 110% of the maximum pre-approved fees or established amounts for previously pre-approved services. PROCEDURES On an annual basis, A I M Advisors, Inc. ("AIM") will submit to the Audit Committees for general pre-approval, a list of non-audit services that the Funds or Service Affiliates of the Funds may request from the Auditor. The list will describe the non-audit services in reasonable detail and will include an estimated range of fees and such other information as the Audit Committee may request. Each request for services to be provided by the Auditor under the general pre-approval of the Audit Committees will be submitted to the Funds' Treasurer (or his or her designee) and must include a detailed description of the services to be rendered. The Treasurer or his or her designee will ensure that such services are included within the list of services that have received the general pre-approval of the Audit Committees. The Audit Committees will be informed at the next quarterly scheduled Audit Committees meeting of any such services for which the Auditor rendered an invoice and whether such services and fees had been pre-approved and if so, by what means. Each request to provide services that require specific approval by the Audit Committees shall be submitted to the Audit Committees jointly by the Fund's Treasurer or his or her designee and the Auditor, and must include a joint statement that, in their view, such request is consistent with the policies and procedures and the SEC Rules. Each request to provide tax services under either the general or specific pre-approval of the Audit Committees will describe in writing: (i) the scope of the service, the fee structure for the engagement, and any side letter or amendment to the engagement letter, or any other agreement between the Auditor and the audit client, relating to the service; and (ii) any compensation arrangement or other agreement between the Auditor and any person (other than the audit client) with respect to the promoting, marketing, or recommending of a transaction covered by the service. The Auditor will discuss with the Audit Committees the potential effects of the services on the Auditor's independence and will document the substance of the discussion. Non-audit services pursuant to the de minimis exception provided by the SEC Rules will be promptly brought to the attention of the Audit Committees for approval, including documentation that each of the conditions for this exception, as set forth in the SEC Rules, has been satisfied. On at least an annual basis, the Auditor will prepare a summary of all the services provided to any entity in the investment company complex as defined in section 2-01(f)(14) of Regulation S-X in sufficient detail as to the nature of the engagement and the fees associated with those services. The Audit Committees have designated the Funds' Treasurer to monitor the performance of all services provided by the Auditor and to ensure such services are in compliance with these policies and procedures. The Funds' Treasurer will report to the Audit Committee on a periodic basis as to the results of such monitoring. Both the Funds' Treasurer and management of AIM will immediately report to the chairman of the Audit Committee any breach of these policies and procedures that comes to the attention of the Funds' Treasurer or senior management of AIM. EXHIBIT 1 TO PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES POLICIES AND PROCEDURES CONDITIONALLY PROHIBITED NON-AUDIT SERVICES (NOT PROHIBITED IF THE FUND CAN REASONABLY CONCLUDE THAT THE RESULTS OF THE SERVICE WOULD NOT BE SUBJECT TO AUDIT PROCEDURES IN CONNECTION WITH THE AUDIT OF THE FUND'S FINANCIAL STATEMENTS) - Bookkeeping or other services related to the accounting records or financial statements of the audit client - Financial information systems design and implementation - Appraisal or valuation services, fairness opinions, or contribution-in-kind reports - Actuarial services - Internal audit outsourcing services CATEGORICALLY PROHIBITED NON-AUDIT SERVICES - Management functions - Human resources - Broker-dealer, investment adviser, or investment banking services - Legal services - Expert services unrelated to the audit - Any service or product provided for a contingent fee or a commission - Services related to marketing, planning, or opining in favor of the tax treatment of confidential transactions or aggressive tax position transactions, a significant purpose of which is tax avoidance - Tax services for persons in financial reporting oversight roles at the Fund - Any other service that the Public Company Oversight Board determines by regulation is impermissible. PwC advised the Funds' Audit Committee that PwC had identified following matter for consideration under the SEC's auditor independence rules. PwC became aware that certain aspects of investment advisory services provided by a PwC network member Firm's Wealth Advisory Practice to its clients (generally high net worth individuals not associated with Invesco) were inconsistent with the SEC's auditor independence requirements of the SEC. The technical violations occurred as a result of professionals of the Wealth Advisory Practice making a single recommendation of an audit client's product to its clients rather than also identifying one or more suitable alternatives for the Wealth Advisory Practice's client to consider. The Wealth Advisory Practice also received commissions from the fund manager. With respect to Invesco and its affiliates, there were 33 cases of single product recommendation and 20 cases of commissions received totaling approximately (pound)7,000. These violations occurred over a two year period and ended in November 2007. It should be noted that at no time did The Wealth Advisory Practice recommend products on behalf Invesco and its affiliates. Additionally, members of the audit engagement team were not aware of these violations or services; the advice provided was based on an understanding of the investment objectives of the clients of the Wealth Advisory Practice and not to promote the Company and its affiliates, and the volume and nature of the violations were insignificant. Although PwC received commissions, PwC derived no economic benefit from the commission as any commissions received were deducted from the time based fees charged to the investor client and created no incentive for PwC to recommend the investment. PwC advised the Audit Committee that it believes its independence had not been adversely affected as it related to the audits of the Funds by this matter. In reaching this conclusion, PwC noted that during the time of its audits, the engagement team was not aware of the services provided and noted the insignificance of the services provided. Based on the foregoing, PwC did not believe this matter affected PwC's ability to act objectively and impartially and to issue a report on financial statements as the Funds' independent auditor, and, believes that a reasonable investor with knowledge of all the facts would agree with this conclusion. Based upon PwC's review, discussion and representations above, the audit committee, in its business judgment, concurred with PwC's conclusions in relation to its independence. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. Not applicable. ITEM 6. SCHEDULE OF INVESTMENTS. Investments in securities of unaffiliated issuers is included as part of the reports to stockholders filed under Item 1 of this Form. ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Not applicable. ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT COMPANIES. Not applicable. ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. Not applicable. ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. None ITEM 11. CONTROLS AND PROCEDURES. (a) As of September 21, 2009, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the PEO and PFO, to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act"), as amended. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that, as of September 21, 2009, the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. (b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. ITEM 12. EXHIBITS. 12(a) (1) Code of Ethics. 12(a) (2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. 12(a) (3) Not applicable. 12(b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: AIM Treasurer's Series Trust By: /s/ Karen Dunn Kelley --------------------------------- Karen Dunn Kelley Principal Executive Officer Date: November 6, 2009 Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ Karen Dunn Kelley --------------------------------- Karen Dunn Kelley Principal Executive Officer Date: November 6, 2009 By: /s/ Sheri Morris --------------------------------- Sheri Morris Principal Financial Officer Date: November 6, 2009 EXHIBIT INDEX 12(a)(1) Code of Ethics. 12(a)(2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. 12(a)(3) Not applicable. 12(b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940. EX-99.CODE ETH 2 h68102exv99wcodeeth.txt EX-99.CODE ETH EXHIBIT - CODE OF ETHICS DISCLOSURE CONTROLS PROCEDURE THE AIM FAMILY OF FUNDS CODE OF ETHICS FOR SENIOR OFFICERS I. INTRODUCTION The Boards of Directors/Trustees ("Board") of The AIM Family of Funds (the "Companies") have adopted this code of ethics (this "Code") applicable to their Principal Executive Officer and Principal Financial and Accounting Officer (the "Covered Officers") to promote: - honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; - full, fair, accurate, timely and understandable disclosure in documents filed with the Securities and Exchange Commission ("SEC") and in other public communications; - compliance with applicable governmental laws, rules and regulations; - the prompt internal reporting to an appropriate person or persons identified in the Code of violations of the Code; and - accountability for adherence to the Code. II. COVERED OFFICERS SHOULD ACT HONESTLY AND CANDIDLY Each Covered Officer named in Exhibit A to this Code owes a duty to the Companies to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity. Each Covered Officer must: - act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Companies' policies; - observe both the form and spirit of laws and governmental rules and regulations, accounting standards and policies of the Companies; - adhere to a high standard of business ethics; and - place the interests of the Companies before the Covered Officer's own personal interests. Business practices Covered Officers should be guided by and adhere to these fiduciary standards. III. COVERED OFFICERS SHOULD HANDLE ETHICALLY ACTUAL AND APPARENT CONFLICTS OF INTEREST GUIDING PRINCIPLES. A "conflict of interest" occurs when an individual's private interest interferes with the interests of the Companies. A conflict of interest can arise when a Covered Officer takes actions or has interests that may make it difficult to perform his or her work for the Companies objectively and effectively. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his or her position in any of the Companies. In addition, investment companies should be sensitive to situations that create apparent, but not actual, conflicts of interest. Service to the Companies should never be subordinated to personal gain and advantage. Certain conflicts of interest covered by this Code arise out of the relationships between Covered Officers and the Companies that already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended and the Investment Advisers Act of 1940, as amended. For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Companies because of their status as "affiliated persons" of the Companies. Therefore, as to the existing statutory and regulatory prohibitions on individual behavior, they will be deemed to be incorporated in this Code and therefore any material violation will also be deemed a violation of this Code. Covered Officers must in all cases comply with applicable statutes and regulations. As to conflicts arising from, or as a result of the contractual relationship between, the Companies and the investment adviser of which the Covered Officers are also officers or employees, it is recognized by the Board that, subject to the adviser's fiduciary duties to the Companies, the Covered Officers will in the normal course of their duties (whether formally for the Companies or for the adviser, or for both) be involved in establishing policies and implementing decisions which will have different effects on the adviser and the Companies. The Board recognizes that the participation of the Covered Officers in such activities is inherent in the contractual relationship between the Companies and the adviser and is consistent with the expectation of the Board of the performance by the Covered Officers of their duties as officers of the Companies. In addition, it is recognized by the Board that the Covered Officers may also be officers or employees of other investment companies advised by the same adviser and the codes which apply to senior officers of those investment companies will apply to the Covered Officers acting in those distinct capacities. Each Covered Officer must: - avoid conflicts of interest wherever possible; - handle any actual or apparent conflict of interest ethically; - not use his or her personal influence or personal relationships to influence investment decisions or financial reporting by an investment company whereby the Covered Officer would benefit personally to the detriment of any of the Companies; - not cause an investment company to take action, or fail to take action, for the personal benefit of the Covered Officer rather than the benefit of such company; - not use knowledge of portfolio transactions made or contemplated for an investment company to profit or cause others to profit, by the market effect of such transactions; and - as described in more detail below, discuss any material transaction or relationship that could reasonably be expected to give rise to a conflict of interest with the Chief Legal Officer of the AIM Funds (the "Chief Legal Officer"). Some conflict of interest situations that should always be discussed with the Chief Legal Officer, if material, include the following: - any outside business activity that detracts from an individual's ability to devote appropriate time and attention to his or her responsibilities with the Companies; - being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member; - any direct ownership interest in, or any consulting or employment relationship with, any of the Companies' service providers, other than its investment adviser, distributor or other AMVESCAP affiliated entities and other than a de minimis ownership interest (for purposes of this section of the Code an ownership interest of 1% or less shall constitute a de minimis ownership interest, and an ownership interest of more than 1% creates a rebuttable presumption that there may be a material conflict of interest); and - a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Companies for effecting portfolio transactions or for selling or redeeming shares, other than an interest arising from the Covered Officer's employment with Invesco Aim, its subsidiaries, its parent organizations and any affiliates or subsidiaries thereof, such as compensation or equity ownership, and other than an interest arising from a de minimis ownership interest in a company with which the Companies execute portfolios transactions or a company that receives commissions or other fees related to its sales and redemptions of shares of the Companies (for purposes of this section of the Code an ownership interest of 1% or less shall constitute a de minimis ownership interest, and an ownership interest of more than 1% creates a rebuttable presumption that there may be a material conflict of interest). IV. DISCLOSURE Each Covered Officer is required to be familiar, and comply, with the Companies' disclosure controls and procedures so that the Companies' subject reports and documents filed with the SEC comply in all material respects with the applicable federal securities laws and SEC rules. In addition, each Covered Officer having direct or supervisory authority regarding these SEC filings or the Companies' other public communications should, to the extent appropriate within his area of responsibility, consult with other officers and employees of the Companies and take other appropriate steps regarding these disclosures with the goal of making full, fair, accurate, timely and understandable disclosure. Each Covered Officer must: - familiarize himself/herself with the disclosure requirements applicable to the Companies as well as the business and financial operations of the Companies; and - not knowingly misrepresent, or cause others to misrepresent, facts about the Companies to others, whether within or outside the Companies, including representations to the Companies' internal auditors, independent Directors/Trustees, independent auditors, and to governmental regulators and self-regulatory organizations. V. COMPLIANCE It is the Companies' policy to comply in all material respects with all applicable governmental laws, rules and regulations. It is the personal responsibility of each Covered Officer to adhere to the standards and restrictions imposed by those laws, rules and regulations, including those relating to affiliated transactions, accounting and auditing matters. VI. REPORTING AND ACCOUNTABILITY Each Covered Officer must: - upon receipt of the Code, sign and submit to the Chief Compliance Officer of the Companies an acknowledgement stating that he or she has received, read, and understands the Code. - annually thereafter submit a form to the Chief Compliance Officer of the Companies confirming that he or she has received, read and understands the Code and has complied with the requirements of the Code. - not retaliate against any employee or other Covered Officer for reports of potential violations that are made in good faith. - notify the Chief Legal Officer promptly if he becomes aware of any existing or potential violation of this Code. Failure to do so is itself a violation of this Code. Except as described otherwise below, the Chief Legal Officer is responsible for applying this Code to specific situations in which questions are presented to him or her and has the authority to interpret this Code in any particular situation. The Chief Legal Officer shall take all action he or she considers appropriate to investigate any actual or potential violations reported to him or her. The Chief Legal Officer is authorized to consult, as appropriate, with the Chairman of the Audit Committees of the Board, counsel to the Companies and counsel to the independent Directors/Trustees, and is encouraged to do so. The Chief Legal Officer is responsible for granting waivers and determining sanctions, as appropriate. In addition, approvals, interpretations, or waivers sought by the Covered Officers may also be considered by the Chairman of the AIM Funds Audit Committees. The Companies will follow these procedures in investigating and enforcing this Code, and in reporting on the Code: - the Chief Legal Officer will take all appropriate action to investigate any violations reported to him or her; - violations and potential violations will be reported to the Chairman of the Audit Committees of the Board after such investigation; - if the Chairman of the Audit Committees determines that a violation has occurred, he or she will inform the Board, which will take all appropriate disciplinary or preventive action; - appropriate disciplinary or preventive action may include a letter of censure, suspension, dismissal or, in the event of criminal or other serious violations of law, notification to the SEC or other appropriate law enforcement authorities; - the Chief Legal Officer will be responsible for granting waivers, as appropriate; and - any changes to or waivers of this Code will, to the extent required, be disclosed on Form N-CSR as provided by SEC rules. VII. OTHER POLICIES AND PROCEDURES The Companies' and the Advisers' and Principal Underwriters' codes of ethics under Rule 17j-1 under the Investment Company Act and the Advisers' more detailed policies and procedures set forth in its Compliance and Supervisory Procedures Manual are separate requirements applying to Covered Officers and others, and are not part of this Code. VIII. AMENDMENTS This Code may not be amended except in written form, which is specifically approved by a majority vote of the Companies' Board, including a majority of independent Directors/Trustees. IX. CONFIDENTIALITY All reports and records prepared or maintained pursuant to this Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the members of the Companies' Board, counsel to the Companies, and counsel to the independent Directors/Trustees. EXHIBIT A Persons Covered by this Code of Ethics: Philip A. Taylor Sheri Morris Karen Dunn Kelley THE AIM FAMILY OF FUNDS CODE OF ETHICS--ACKNOWLEDGEMENT I hereby acknowledge that I am a Principal Officer of the Companies and I am aware of and subject to the Companies' Code of Ethics for Principal Officers. Accordingly, I have read and understood the requirements of the Code of Ethics and I am committed to fully comply with the Code of Ethics. I recognize my obligation to promote: 1. Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; 2. Full, fair, accurate, timely, and understandable disclosure in reports and documents that the Companies file with, or submit to, the Commission and in other public communications made by the Companies; and 3. Compliance with applicable governmental laws, rules, and regulations. - ------------------------------------- ---------------------------------------- Date Name: Title: EX-99.CERT 3 h68102exv99wcert.txt EX-99.CERT I, Karen Dunn Kelley, Principal Executive Officer, certify that: 1. I have reviewed this report on Form N-CSR of AIM Treasurer's Series Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3 (d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filling date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 6, 2009 /s/ Karen Dunn Kelley ---------------------------------------- Karen Dunn Kelley, Principal Executive Officer I, Sheri Morris, Principal Financial Officer, certify that: 1. I have reviewed this report on Form N-CSR of AIM Treasurer's Series Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3 (d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filling date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 6, 2009 /s/ Sheri Morris ---------------------------------------- Sheri Morris, Principal Financial Officer EX-99.906CERT 4 h68102exv99w906cert.txt EX-99.906CERT CERTIFICATION OF SHAREHOLDER REPORT In connection with the Certified Shareholder Report of AIM Treasurer's Series Trust (the "Company") on Form N-CSR for the period ended August 31, 2009, as filed with the Securities and Exchange Commission (the "Report"), I, Karen Dunn Kelley, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Date: November 6, 2009 /s/ Karen Dunn Kelley ---------------------------------------- Karen Dunn Kelley, Principal Executive Officer A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. CERTIFICATION OF SHAREHOLDER REPORT In connection with the Certified Shareholder Report of AIM Treasurer's Series Trust (the "Company") on Form N-CSR for the period ended August 31, 2009, as filed with the Securities and Exchange Commission (the "Report"), I, Sheri Morris, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Date: November 6, 2009 /s/ Sheri Morris ---------------------------------------- Sheri Morris, Principal Financial Officer A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. -----END PRIVACY-ENHANCED MESSAGE-----