-----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, WeCwzNyov8eX5Hip82sbR8LHSlKZ5BuI4rZDccMub7lhGrRWze6TuR7SKuqiD5e2 vkXOI0xXlBGfY1j4rD7hVg== 0000950123-11-018670.txt : 20110225 0000950123-11-018670.hdr.sgml : 20110225 20110225155645 ACCESSION NUMBER: 0000950123-11-018670 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20110225 DATE AS OF CHANGE: 20110225 EFFECTIVENESS DATE: 20110225 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIM EQUITY FUNDS (INVESCO EQUITY FUNDS) CENTRAL INDEX KEY: 0000105377 IRS NUMBER: 132576643 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-25469 FILM NUMBER: 11640875 BUSINESS ADDRESS: STREET 1: 11 GREENWAY PLZ STREET 2: STE 100 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7136261919 MAIL ADDRESS: STREET 1: 11 GREENWAY PLAZA STREET 2: SUITE 2500 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: AIM EQUITY FUNDS DATE OF NAME CHANGE: 20000713 FORMER COMPANY: FORMER CONFORMED NAME: AIM EQUITY FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: WEINGARTEN EQUITY FUND INC DATE OF NAME CHANGE: 19880929 0000105377 S000000277 Invesco Charter Fund C000000677 Class A CHTRX C000000678 Class B BCHTX C000000679 Class C CHTCX C000000680 Class R CHRRX C000021943 Institutional Class CHTVX C000069441 Class Y CHTYX C000081511 CLASS S CHRSX 497K 1 h79787kbe497k.htm 497K e497k

[INVESCO LOGO APPEARS HERE]

 
     
Summary Prospectus   February 28, 2011
 
Invesco Charter Fund
 
Class: A (CHTRX), B (BCHTX), C (CHTCX), R (CHRRX), Y (CHTYX)

 

 
 
Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus and other information about the Fund online at www.invesco.com/prospectus. You can also get this information at no cost by calling (800) 959-4246 or by sending an e-mail request to ProspectusRequest@invesco.com. The Fund’s prospectus and statement of additional information, both dated February 28, 2011, are incorporated by reference into this Summary Prospectus and may be obtained, free of charge, at the Web site, phone number or e-mail address noted above.
 
Investment Objective
The Fund’s investment objective is long-term growth of capital.
 
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
 
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Invesco Funds. More information about these and other discounts is available from your financial professional and in the section “Shareholder Account Information—Initial Sales Charges (Class A Shares Only)” on page A-3 of the prospectus and the section “Purchase, Redemption and Pricing of Shares—Purchase and Redemption of Shares” on page L-1 of the statement of additional information (SAI).
 
                                             
 
Shareholder Fees (fees paid directly from your investment)
 
Class:   A   B   C   R   Y    
 
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)     5.50 %     None       None       None       None      
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)     None       5.00 %     1.00 %     None       None      
 
                                             
 
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
 
Class:   A   B   C   R   Y    
 
Management Fees
    0.63 %     0.63 %     0.63 %     0.63 %     0.63 %    
Distribution and/or Service (12b-1) Fees
    0.25       1.00       1.00       0.50       None      
Other Expenses
    0.30       0.30       0.30       0.30       0.30      
Total Annual Fund Operating Expenses
    1.18       1.93       1.93       1.43       0.93      
Fee Waiver and/or Expense Reimbursement1
    0.01       0.01       0.01       0.01       0.01      
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement
    1.17       1.92       1.92       1.42       0.92      
     
1
  Through December 31, 2012, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of its advisory fees to the extent necessary so that the advisory fees payable by the Fund do not exceed a specified maximum annual advisory fee rate, wherein the fee rate includes breakpoints and is based upon net asset levels. The Fund’s maximum annual advisory fee rate ranges from 0.75% (for average net assets up to $150 million) to 0.52% (for average net assets over $10 billion). Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on December 31, 2012.
 
Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
 
 
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
 
 
1        Invesco Charter Fund

CHT-SUMPRO-1

 

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
 
                                     
    1 Year   3 Years   5 Years   10 Years    
 
Class A
  $ 663     $ 902     $ 1,161     $ 1,901      
Class B
    695       904       1,240       2,057      
Class C
    295       604       1,040       2,252      
Class R
    145       450       780       1,711      
Class Y
    94       294       513       1,141      
 
You would pay the following expenses if you did not redeem your shares:
 
                                     
    1 Year   3 Years   5 Years   10 Years    
 
Class A
  $ 663     $ 902     $ 1,161     $ 1,901      
Class B
    195       604       1,040       2,057      
Class C
    195       604       1,040       2,252      
Class R
    145       450       780       1,711      
Class Y
    94       294       513       1,141      
 
Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
 
Principal Investment Strategies of the Fund
The portfolio management team seeks to construct a portfolio of issuers that have high or improving return on invested capital (ROIC), quality management, a strong competitive position and which are trading at compelling valuations. The Fund invests primarily in equity securities.
 
The Fund may invest up to 25% of its total assets in foreign securities, which includes debt and equity securities.
 
In selecting securities for the Fund, the portfolio managers conduct fundamental research of issuers to gain a thorough understanding of their business prospects, appreciation potential and return on invested capital. The process they use to identify potential investments for the Fund includes three phases: financial analysis, business analysis and valuation analysis. The portfolio managers will generally invest in an issuer when they have determined it potentially has high or improving ROIC, quality management, a strong competitive position and is trading at an attractive valuation.
 
The portfolio managers consider selling a security when it exceeds the target price, has not shown a demonstrable improvement in fundamentals or a more compelling investment opportunity exists.
 
Principal Risks of Investing in the Fund
As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:
 
Cash/Cash Equivalents Risk. Holding cash or cash equivalents may negatively affect performance.
 
Foreign Securities Risk. The Fund’s foreign investments may be affected by changes in a foreign country’s exchange rates; political and social instability; changes in economic or taxation policies; difficulties when enforcing obligations; decreased liquidity; and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.
 
Management Risk. The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.
 
Market Risk. The prices of and the income generated by the Fund’s securities may decline in response to, among other things, investor sentiment; general economic and market conditions; regional or global instability; and currency and interest rate fluctuations.
 
Performance Information
The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.
 
Best Quarter (ended June 30, 2009): 16.50%
Worst Quarter (ended September 30, 2001): -21.72%
 
                                 
 
Average Annual Total Returns (for the periods ended December 31, 2010)
 
    1
 		  5
 		  10
 		   
    Year   Years   Years    
 
Class A: Inception (11/26/68)                                
Before Taxes
    2.18 %     3.69 %     0.90 %        
After Taxes on Distributions
    2.11       3.55       0.80          
Return After Taxes on Distributions and Sale of Fund Shares
    1.49       3.15       0.75          
Class B: Inception (06/26/95)
    2.31       3.76       0.90          
Class C: Inception (08/04/97)
    6.29       4.09       0.74          
Class R1: Inception (06/03/02)
    7.85       4.61       1.22          
Class Y2: Inception (10/03/08)
    8.40       5.00       1.53          
S&P 500® Index (reflects no deductions for fees, expenses or taxes)
    15.08       2.29       1.42          
Russell 1000® Index (reflects no deductions for fees, expenses or taxes)
    16.10       2.59       1.83          
Lipper Large-Cap Core Funds Index
    12.77       1.91       0.76          
     
1
  Class R shares’ performance shown prior to the inception date is that of Class A shares restated to reflect the higher 12b-1 fees applicable to Class R shares. Class A shares’ performance reflects any applicable fee waivers or expense reimbursements.
2
  Class Y shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waivers or expense reimbursements.
 
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.
 
Management of the Fund
Investment Adviser: Invesco Advisers, Inc.
 
             
Portfolio Managers   Title   Length of Service on the Fund
 
Ronald Sloan   Portfolio Manager (lead)     2002  
Tyler Dann II   Portfolio Manager     2007  
Brian Nelson   Portfolio Manager     2007  
 
2        Invesco Charter Fund

 

Purchase and Sale of Fund Shares
You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser, through our Web site at www.invesco.com/us, by mail to Invesco Investment Services, Inc., P.O. Box 4739, Houston, Texas 77210-4739, or by telephone at 800-959-4246.
 
There are no minimum investments for Class R shares for fund accounts. New or additional investments in Class B shares are no longer permitted. The minimum investments for Class A, C and Y shares for fund accounts are as follows:
 
                 
    Initial Investment
 		  Additional Investments
Type of Account   Per Fund   Per Fund
 
Asset or fee-based accounts managed by your financial adviser     None       None  
Eligible employee benefit plans, SEP, SARSEP and SIMPLE IRA plans     None       None  
IRAs, Roth IRAs and Coverdell ESA accounts if the new investor is purchasing shares through a systematic purchase plan     $25       $25  
All other types of accounts if the investor is purchasing shares through a systematic purchase plan     $50       $50  
IRAs, Roth IRAs and Coverdell ESAs     $250       $25  
All other accounts     $1,000       $50  
 
Tax Information
The Fund’s distributions generally are taxable to you as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.
 
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and the Fund’s distributor or its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson or financial adviser to recommend the Fund over another investment. Ask your salesperson or financial adviser or visit your financial intermediary’s Web site for more information.
 
3        Invesco Charter Fund

 

invesco.com/us  CHT-SUMPRO-1

 

[INVESCO LOGO APPEARS HERE]

 
     
Summary Prospectus   February 28, 2011
 
Invesco Charter Fund
 
S Class: (CHRSX)

 

 
 
Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus and other information about the Fund online at www.invesco.com/prospectus. You can also get this information at no cost by calling (800) 959-4246 or by sending an e-mail request to ProspectusRequest@invesco.com. The Fund’s prospectus and statement of additional information, both dated February 28, 2011, are incorporated by reference into this Summary Prospectus and may be obtained, free of charge, at the Web site, phone number or e-mail address noted above.
 
Investment Objective
The Fund’s investment objective is long-term growth of capital.
 
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
 
             
 
Shareholder Fees (fees paid directly from your investment)
 
Class:   S    
 
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)     None      
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)     None      
 
             
 
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
 
Class:   S    
 
Management Fees
    0.63 %    
Distribution and/or Service (12b-1) Fees
    0.15      
Other Expenses
    0.30      
Total Annual Fund Operating Expenses
    1.08      
Fee Waiver and/or Expense Reimbursement1
    0.01      
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement
    1.07      
     
1
  Through December 31, 2012, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of its advisory fees to the extent necessary so that the advisory fees payable by the Fund do not exceed a specified maximum annual advisory fee rate, wherein the fee rate includes breakpoints and is based upon net asset levels. The Fund’s maximum annual advisory fee rate ranges from 0.75% (for average net assets up to $150 million) to 0.52% (for average net assets over $10 billion). Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on December 31, 2012.
 
Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
 
 
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
 
 
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
 
                                     
    1 Year   3 Years   5 Years   10 Years    
 
Class S
  $ 109     $ 341     $ 593     $ 1,315      
 
Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
 
Principal Investment Strategies of the Fund
The portfolio management team seeks to construct a portfolio of issuers that have high or improving return on invested capital (ROIC), quality management, a strong competitive position and which are trading at compelling valuations. The Fund invests primarily in equity securities.
 
The Fund may invest up to 25% of its total assets in foreign securities, which includes debt and equity securities.
 
In selecting securities for the Fund, the portfolio managers conduct fundamental research of issuers to gain a thorough understanding of their business prospects, appreciation potential and return on invested capital. The process they use to identify potential investments for the Fund includes three phases: financial analysis, business analysis and valuation analysis. The portfolio managers will generally invest in an issuer when they have determined it potentially has high or improving ROIC, quality management, a strong competitive position and is trading at an attractive valuation.
 
The portfolio managers consider selling a security when it exceeds the target price, has not shown a demonstrable improvement in fundamentals or a more compelling investment opportunity exists.
 
Principal Risks of Investing in the Fund
As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the
 
1        Invesco Charter Fund

CHT-SUMPRO-1-S

 

Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:
 
Cash/Cash Equivalents Risk. Holding cash or cash equivalents may negatively affect performance.
 
Foreign Securities Risk. The Fund’s foreign investments may be affected by changes in a foreign country’s exchange rates; political and social instability; changes in economic or taxation policies; difficulties when enforcing obligations; decreased liquidity; and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.
 
Management Risk. The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.
 
Market Risk. The prices of and the income generated by the Fund’s securities may decline in response to, among other things, investor sentiment; general economic and market conditions; regional or global instability; and currency and interest rate fluctuations.
 
Performance Information
The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.
 
Best Quarter (ended December 31, 2010): 8.59%
Worst Quarter (ended June 30, 2010): -11.68%
 
                                 
 
Average Annual Total Returns (for the periods ended December 31, 2010)
 
    1
 		  5
 		  10
 		   
    Year   Years   Years    
 
Class S1: Inception (09/25/09)                                
Before Taxes
    8.23 %     4.89 %     1.48 %        
After Taxes on Distributions
    8.14       4.75       1.38          
Return After Taxes on Distributions and Sale of Fund Shares
    5.45       4.20       1.25          
S&P 500® Index (reflects no deductions for fees, expenses or taxes)
    15.08       2.29       1.42          
Russell 1000® Index (reflects no deductions for fees, expenses or taxes)
    16.10       2.59       1.83          
Lipper Large-Cap Core Funds Index
    12.77       1.91       0.76          
     
1
  Class S shares’ performance shown prior to the inception date is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Class A shares’ performance reflects any applicable fee waivers. The inception date of the Fund’s Class A shares is November 26, 1968.
 
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Class S shares only and after-tax returns for other classes will vary.
 
Management of the Fund
Investment Adviser: Invesco Advisers, Inc.
 
             
Portfolio Managers   Title   Length of Service on the Fund
 
Ronald Sloan   Portfolio Manager (lead)     2002  
Tyler Dann II   Portfolio Manager     2007  
Brian Nelson   Portfolio Manager     2007  
 
Purchase and Sale of Fund Shares
You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser, through our Web site at www.invesco.com/us, by mail to Invesco Investment Services, Inc., P.O. Box 4739, Houston, Texas 77210-4739, or by telephone at 800-959-4246.
 
Tax Information
The Fund’s distributions generally are taxable to you as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.
 
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and the Fund’s distributor or its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson or financial adviser to recommend the Fund over another investment. Ask your salesperson or financial adviser or visit your financial intermediary’s Web site for more information.

invesco.com/us  CHT-SUMPRO-1-S

 

[INVESCO LOGO APPEARS HERE]

 
     
Summary Prospectus   February 28, 2011
 
Invesco Charter Fund
 
Institutional Class: (CHTVX)

 

 
 
Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus and other information about the Fund online at www.invesco.com/prospectus. You can also get this information at no cost by calling (800) 659-1005 or by sending an e-mail request to ProspectusRequest@invesco.com. The Fund’s prospectus and statement of additional information, both dated February 28, 2011, are incorporated by reference into this Summary Prospectus and may be obtained, free of charge, at the Web site, phone number or e-mail address noted above.
 
Investment Objective
The Fund’s investment objective is long-term growth of capital.
 
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
 
             
 
Shareholder Fees (fees paid directly from your investment)
 
Class:   Institutional    
 
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)     None      
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)     None      
 
             
 
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
 
Class:   Institutional    
 
Management Fees
    0.63 %    
Distribution and/or Service (12b-1) Fees
    None      
Other Expenses
    0.12      
Total Annual Fund Operating Expenses
    0.75      
Fee Waiver and/or Expense Reimbursement1
    0.01      
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement
    0.74      
     
1
  Through December 31, 2012, Invesco Advisers, Inc. (Invesco or the Adviser) has contractually agreed to waive a portion of its advisory fees to the extent necessary so that the advisory fees payable by the Fund do not exceed a specified maximum annual advisory fee rate, wherein the fee rate includes breakpoints and is based upon net asset levels. The Fund’s maximum annual advisory fee rate ranges from 0.75% (for average net assets up to $150 million) to 0.52% (for average net assets over $10 billion). Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on December 31, 2012.
 
Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
 
 
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
 
 
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
 
                                     
    1 Year   3 Years   5 Years   10 Years    
 
Institutional Class
  $ 76     $ 238     $ 415     $ 928      
 
Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
 
Principal Investment Strategies of the Fund
The portfolio management team seeks to construct a portfolio of issuers that have high or improving return on invested capital (ROIC), quality management, a strong competitive position and which are trading at compelling valuations. The Fund invests primarily in equity securities.
 
The Fund may invest up to 25% of its total assets in foreign securities, which includes debt and equity securities.
 
In selecting securities for the Fund, the portfolio managers conduct fundamental research of issuers to gain a thorough understanding of their business prospects, appreciation potential and return on invested capital. The process they use to identify potential investments for the Fund includes three phases: financial analysis, business analysis and valuation analysis. The portfolio managers will generally invest in an issuer when they have determined it potentially has high or improving ROIC, quality management, a strong competitive position and is trading at an attractive valuation.
 
The portfolio managers consider selling a security when it exceeds the target price, has not shown a demonstrable improvement in fundamentals or a more compelling investment opportunity exists.
 
Principal Risks of Investing in the Fund
As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the
 
1        Invesco Charter Fund

CHT-SUMPRO-2

 

Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:
 
Cash/Cash Equivalents Risk. Holding cash or cash equivalents may negatively affect performance.
 
Foreign Securities Risk. The Fund’s foreign investments may be affected by changes in a foreign country’s exchange rates; political and social instability; changes in economic or taxation policies; difficulties when enforcing obligations; decreased liquidity; and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.
 
Management Risk. The investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.
 
Market Risk. The prices of and the income generated by the Fund’s securities may decline in response to, among other things, investor sentiment; general economic and market conditions; regional or global instability; and currency and interest rate fluctuations.
 
Performance Information
The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. The performance table compares the Fund’s performance to that of a broad-based securities market benchmark, a style specific benchmark and a peer group benchmark comprised of funds with investment objectives and strategies similar to the Fund. The Fund’s past performance (before and after taxes) is not necessarily an indication of its future performance. Updated performance information is available on the Fund’s Web site at www.invesco.com/us.
 
Best Quarter (ended June 30, 2009): 16.62%
Worst Quarter (ended September 30, 2001): -21.63%
 
                                 
 
Average Annual Total Returns (for the periods ended December 31, 2010)
 
    1
 		  5
 		  10
 		   
    Year   Years   Years    
 
Institutional Class: Inception (07/30/91)                                
Before Taxes
    8.60 %     5.34 %     1.94 %        
After Taxes on Distributions
    8.45       5.13       1.79          
Return After Taxes on Distributions and Sale of Fund Shares
    5.76       4.58       1.65          
S&P 500® Index (reflects no deductions for fees, expenses or taxes)
    15.08       2.29       1.42          
Russell 1000® Index (reflects no deductions for fees, expenses or taxes)
    16.10       2.59       1.83          
Lipper Large-Cap Core Funds Index
    12.77       1.91       0.76          
 
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangement, such as 401(k) plans or individual retirement accounts.
 
Management of the Fund
Investment Adviser: Invesco Advisers, Inc.
 
             
Portfolio Managers   Title   Length of Service on the Fund
 
Ronald Sloan   Portfolio Manager (lead)     2002  
Tyler Dann II   Portfolio Manager     2007  
Brian Nelson   Portfolio Manager     2007  
 
Purchase and Sale of Fund Shares
 
You may purchase, redeem or exchange shares of the Fund on any business day through your financial adviser or by telephone at 800-659-1005.
 
The minimum investments for Institutional Class shares for fund accounts are as follows:
 
                 
    Initial Investment
 		  Additional Investments
Type of Account   Per Fund   Per Fund
 
Defined Contribution Plan (for which sponsor has $100 million in combined defined contribution and defined benefit assets)     $0       $0  
Defined Contribution Plan (for which a sponsor has less than $100 million in combined defined contribution and defined benefit assets)     $10 Million       $0  
Banks, trust companies and certain other financial intermediaries     $10 Million       $0  
Financial intermediaries and other corporations acting for their own accounts     $1 Million       $0  
Foundations or Endowments     $1 Million       $0  
Other institutional investors     $1 Million       $0  
Defined Benefit Plan     $0       $0  
Pooled investment vehicles (e.g., Funds of Funds)     $0       $0  
 
Tax Information
The Fund’s distributions generally are taxable to you as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account.
 
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and the Fund’s distributor or its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson or financial adviser to recommend the Fund over another investment. Ask your salesperson or financial adviser or visit your financial intermediary’s Web site for more information.

invesco.com/us  CHT-SUMPRO-2

GRAPHIC 2 h79787kbsumpros_inv.gif GRAPHIC begin 644 h79787kbsumpros_inv.gif M1TE&.#EA[P+7`.9M`*>OTP)%C7F(N____T5BHB!0E;W#WNGK]$%TJE1ZL("B MQD%SJ=[B[A%0E)NFS!!*D;_0XL__S]Y6@RJ"YU'2)N6"*MTADHU%_L"%< MF\C4Y7N*O#%GHI";QZ2LT=_G\'"6OE]UKA)1E,#1X_#T^)"MS8&BQB)ZZBVU=?=ZW&7OU:`LDUWK_VHJ:Q%MRK$YIIDMFI;K`W?___P`````````````````````` M`````````````````````````````````````````````````"'Y!`$``&T` M+`````#O`M<```?_@&$(@X2%AH>(B8J+C(V.CX]B7P:4E9:7F)F:FYR=GI^@ MH:*CI*6FIZBIJJNLK:ZOL+&RL[2R;&<(`;J[O+V^O\#!PL/$Q<;'`0DZ`,S- MSL_0T=+3U-76U]C9VMOKK[.@=#KG(\O/T]?;"/D?M M^_S]_O\``PH<2+"@P8,!8PB`=Z^APX<0>?$@@K"BQ8L8,VKI< MRK2AE1]%HTJ=2K6JU8P=;-YLRK4KLB`]KHH=2[:LV;/,%&I5ZK6MVU\X_Q*@ MG4NWKMV["$.N'?FV;U\?4/$*'DRXL.%I-;5N];337T,$O7X]26YHNZMLZ)L'/KWJU;[VS;P)FF MY$V\N/'"B3%G#LZ\),_CT*-+MWI9^?+FV"$^G7I*V;SD[^(=COZ-.K M+RA;/.WR\.W%74^_OOUSOMW'W^\PW_W_``9(37+67IA@,;B2VZ.)D^9VHXHS% M!*'2BSCF2%<-$/Y&XX_!/*?CD$1>%:.,0";YR_]V13;I)%`\]J@8ATI6>05D M3V:IY4='(EGEE[O,M^689%84I91[@:GF+OZ5Z>:;_G3IY9IJ*@CGG7B6>?:H)(Z**,0K,GGQ$B6B4/@35JJ:"&'BKIFC9>ZNF; MCT)*Y:9@"OGIJ5EFJJF'"X"@P*L9^.+J`@HTD($":P*&ZJY$ABJJG_NU2D$$ M`Q1K[`*]+""!"R4,H``%`_QY):_4NJCJJO&Y8.RVVR++2P;$:BN!!-'^&=>- MU::[H*^_3H@!M_`.X.TN&$```;D0-+MIF^KV^]^UV)+7P`?QNRVBZ#_`@7#>_##Q00Z\Q MQ?Q!8+*Q$A`[`,HI"T-IRSSW!NG(S+T[\P`2<-"`S3CG'$RG/3<=VLLPPS?P MT$7KPNS=]^)FQ2TW=@W037@OT!Z..#"*,ZZY MD3]+*39P@T_."[Z7!Y/YYJA'Y?CCS$4^M+&%%VMYZ;V>"UA2ZZ M+M`.,#OMN]B.^_$QK(X2FO!^MEG`"@NVP5TPL($/I*$0]V'#&P(N M.#K<(0N#H4)CP3!G,ARB%+E11","K2])5*+&6N@+WSV18U&[J*)QOK`O.18QT)JXXYX M5`X:N[)'/F(MCBZ,%QRA:,A*5@.1B?217S(PK`8TTO^1`P#!,8+'+4$2TI*H M?`8F,SDEWNF$D\:*@!M!"41CP!)>DR35'%-)PU6R,DUI;!8MA_9%8-QR6Z;< MU"YY*4)?_K)/;6F``B0WS)D5TYBD?!X&)+5,9@K0F<^,E$FD2&90` M!;:YIFYZKJ3G-.W)1W;NH@$+2&BL MP%>P#_"SGV+\)T!S4D^"\A%7"3/6\'B1S6V9#4SNA"CN)#K1DW"@G!95(D9Y MH:UB#9)RDE132$6*.I*6U"193.D:5[J+[FV4H_!R*$AIVLMPFG">\LBI3N-% M@82"`%X;;4"WA-%1X;WT1S/_)6K?;&I4I")#J4OEEOC`*B]?M%1XPQ`FMR!P M515E5:MNXVI7`TH/LH:U6!\E:U09V-:$6>"L&NWKA-X*5Z?)=:XXL>M==P&N M>%TUBWY,F.]J.2/"%I9GAT7L2<@J@5H%@`.THH#,ACF\#(#@A\,[:1\A^0NE MNJ^RESU?9C4[SFQVEK6Z4*SS]OD+H;GTCRB-;&ZW]5K8QO9ZLZ7M23AYVV'H M=@`?L)>]4%I,R47@50.-UT][P0'I\A9(ECVNOY*K7,;H-FFC]6@PJAHO=1J4 MDN*]'7F-B@:Z,D6Q64NOL1;:6Y.Y]W+AC2^UYAO.+E3`ODNQJP+U6RQ1!@.E M_Z5=_X`%C"H"/U,&%SCP:!@-(_&-;:QUXS*2BY<8,$S$RK-5E0!F]N=[2PH/!M1#7N.,DYEQM-`-V;0A,:3 MH4T8@CWSN219;+2C_0+I2,-IT@6,@J4O39),;WHSG?:TFT#],QFL8=2*+K6Q M-'UJMZ1:U61B-:32,&I21\34`#(]BV7("P[@E5%T,>P/ZR M:RQV,DY.N\(XHM[O*!SUF'6RR,-O%@4E\YZ0/PR<:OWEC6Y@77DZ71MLM>73CN',)OG_G<;_Y8 MNP!V`!B(>(SR7.4!."U3C_];8*37VGYW_O,'3'L!5/KVN&^([N>E?<1;?:%9 MW*[=:$7X`*@U;;Q@4*147.GE;P*W?KP2?=+W9/!7??)W?>47`-H7;UAS4))3 M9"5@;_0":+JP+1*X+9[5`-!B;SF%42*X+7+6(;&'@!>B@)WS?@VX=,8P?]D' M?N1G+/[V_W/113<2X"T71S0N\"KI=3@,IE]54X3<\GJPQX*?XH*MQH`QF%@0 MN'L?V'N\D#]<5'RQM'4FPTYOMD0_6'%8Q827XH0_`X-1N%E32'\V*%7U9C>S M-``:N`!Q*`$.U`#X)CPME`%YJ('J1X:+8H:0,GWP%W_W<"NOXBVT`BN,A5TO MM6V&]SXN(#,0T%2^L``E<"_1!0(I&``_1HF66#B3*#RA"%Z`&(CMIQ5HF(:U M-E2G*"B".(A06(@.V(IN]8IY$HN0LHJL:(M*LH*XF!ZZR">$6(B&Z(LJ&(QO M,HQ\PHN]B(QCJ(QDPHQH4HS&6(O0*"'`*(W208UHXHS/F(VWR/^-6>*-4F*- MURB#XH@=VTB.Q6&.4@*.X;B.R>B."Q(#-[`!0'`-\'APLVB,2D>/?VB/]X&/ M6J&/EY2*UB&/\RB0"-*.!"D8!HD9""D-_>B/`&EIV.B0Y0&1$5D7$VD=%:E* M"KF0&:F1ZLB1M>&1'WD6(0DA(\D,%XF1)\EF&ZF2[-B2WO&24C*2,]DC#$F+ M*8F3J*:3T\&3?(*0/PDAZ'B2-TF4P<&21CD52/DS&Z`A):D802F44*F-4UD< M59F5>-243CF47+257'F6_"&5:>D3:\F69D2690F7<3F7K5&7 M=FE&;OF6>AEY?!D:?OF75H27>3F8A%G_F)5QF(AI18$IF(R9'7+IF!SA`1VP M`9')98JYF)5IF9AY&)K)F9W)99-)F:')')99CI6DTGWE*O9%ZWI MF@4!F[')9;-)FZ/V`C#``F9YFTN1F[H9$+S9FTSVF\#)9L)9``5`G,;9',B9 MG/VPG,QI5,[YG`00G=(YG<59G3AQG=C)#MJYG>'4G<`)GN$IGN09E>.)H1"AH1NJ#1WJH8D$HKD-A6HA*L`1D2J8LT`934*)H*@]/FJ)LVJ8F]*:W%Z=",*=TV@:&.@)XFJ=F MIJ87T:=^6D&`FG2"2JAS6J>&:JA0<`**VA1[>IZ.^J@%%*F]-JF46JF7>JHK MH*F;FA.=JIN?"JJ=(ZJ6)IR#6JJ$:JFG>JDF(`*K>A*MBIFO"JL_(ZO0.::V M2JFXFJN&2@*[VJLD\:M\&:S""BG$NF-7>JPQFJS*:J@HD`+.>J*,JO^.Q^P"RX52M!#"R)$NI3G"R*9NQS+JR+.L+ M_OJ1,/M+,CNS-4NI3_``.)NS.GNF/6L]+LL.09M)0TNT14NF12`%2(NR2INQ M[-JTY/.T4!NU1EJE>T:S5=NC38"T2;NU*8L"B7J;/QN18DNE\&>V9UNA)JNV M6LNV*;NO+!NW!#FW;DJVEF:W=[N?-ZNW?,O_MB.@JOP*N/8HN)1FC(9[N-)Y MM&J[MHNKM!O;KI#KCI);09-9N8=[M9FKN9NKM%C`LZOZN>08N@4TNI:+H&E[ MNGN;NDJ[L[WJNMP(NR](N;/[GGEKN[B[N23@K9O*N]+HNV<(O,$KG8E+O,6[ MN5V+ILJKC,R[B\X;O)A[NJ@[O6Q[I]8+MNN0O#+N&^[CM<; MC.;[C>A[N+6[OK?;OHN;J2:*`&5P```H+_@V[G5B0`CX,-$7,1&?,1(G,1* MO,1,W,1._,10',52/,7YJKNK*<14G,5:O,5_,5@',9B/,:YVZR#B<5D MG,9JO,9LW,9N_,9P',?*6KU0F0)#+,=XG,=ZO,=\W,=^O,9T[)`I@`)_7,B& M?,B(G,B*O,A^2X^#O,B0',F2/,F47,E,O+#B^,B6O,F_,F2#,2UILF@ M7,JF?,JHG,I?O`*L.V>DK,JP',NR/,NTS+=6C&6O7,NZO,N\W,NES*SQD\N^ M/,S$7,S&[,>!K#;"?,S,W,S._,Q?[+9YL\S07,W6?,W87,2-3"HB8`(DD/_- MX!S.XCS.6]NXF]+-WTS.ZKS.[!S.HOPEZ-S.\CS/],S,JPO/WES/^KS/_#S+ MMSPC\=S/`CW0!-W)QPO0^5S0"KW0#)W(R;P?`=W0$CW1%"W'XLL?$5W1&KW1 M'!W&VXP=&=W1(CW2)`W%_-L<)[`"Z5S2+-W2+FW$[[P9*?W2-%W3-IVZ_\P8 M,WW3/-W3/KVM.=T6._W31%W4//W03#'41KW43.W22'T22MW44CW5(OW1)A'5 M5)W56DW1F'S5*[#58!W6%!W3]H#58GW6:-W/K-P0"/#5:?W6<,W/05T,:!S7 M=GW7\@S,QU#7>-W7?CW.3[T+?/W7A%W8URS-OS`9V(:]V(S=S-NLV(T=V9(] ,S(T+V9-]V7<="``[ ` end GRAPHIC 3 h79787kbh001413103.gif GRAPHIC begin 644 h79787kbh001413103.gif M1TE&.#EA6`%P`,00`,#`P("`@$!`0/#P\-#0T)"0D.#@X'!P<*"@H+"PL%!0 M4&!@8#`P,!`0$"`@(````/___P`````````````````````````````````` M`````````````````````````"'Y!`$``!``+`````!8`7````7_("2.9&F> M:*JN;.N^<"S/=&W?>*[O?.__P*!P2-0M'@X"X,%<)!P)R&%0K%JOV*QV2UHF M&H)E(``0!`2)`G?-;KO?7$.@<4`\&@W$^2"`^_^`@8(J!`(/!P`'3PX0!G5F M@Y&2DY1!!5`.#9>+$`0+8WV5HJ.DI2<#A@X(`PH/#`00"@,&#`JFM[BY@7(( M(@0!40,!5`14NL?(R44&KH<�P/"0O4K,K7V-DW!0$(L.SX^3"%`OW^__UZ:2%0`$`F<.(8B!!08($M?1`CGG#' MI*)%)@&V)&@FX%FT*,`0+`@EL61$BA%3D`1`@L$,6DS7PH4U9< MF875`P%**CJ!(L78S:/I0&7C`[!P6;O'\%I< M6\40$P$^7\6:52N;XZ45$2M3O',-`&-OT4&(J>XRYG":T9[N/+#!G00#HC7X M!0FRY=5,4JO&S;A(``<#'BC8.\"!@JIDM)G&K#LQ;J9K]A:`9R@!PW-&E2U? MVEP79XQHUAS%]S&W3W7=^A:CH!!=`AZ@@#T#B/;KK/]W>>]$4'8 M-Q!8M])XK`2("_]_*?EWRWL*#E%(+_R840@LJZRWFH.F0+B%'=`M$9`"Y1`P MGH:GK3/&BBRR*)`V'FK1DGW"*>`)-;:AR)PZS^FW&8!#;VH MW7/K]*A.C#+:MT!L#4#`"CT/7WR>YJ=SO&WQ M&W3$&8<<:=AL:5&7?;X9*4O04?=.`=BMV5^CF#WJ'9Q19E2>`.,>#_>`:* M@"")Q&X:@Z:9N<$L#.-ZIFL+%1KFCY(MR#'&*L-TDETRX.;V[9YME.N"OJ!^ M^D*U+%`4`#539KGHAO1Z<8L((+]QIPPQ3 M>V[`(Z\00#,V+D#/G)GB^T*]J,&@;F$R.+R"S5A(K(+.*1`4#VH,.=1MN#*[ MO*_1+>"<@M)6\-Q.R2IL%,UX(8TTM+U%*_S"N$FE._&K&8_ZM"6(+D"5@7F!G6"\[QQMC+XKVZX!CFRRT&*P"]>2S;3XEZ*?CKDOQ M%B.^[?&S.3_]B'O03@AFC?V=IGHML-S_)E$_&#V@8A<[Q\N>@\#I76^!?FB@ M,NZ'LGG4@WGOHV#_3H7![`5P%/SP&3SBT1#WI0!^;2M?"06A06Q([1`0J-KV M?C:^&,IOAH"H(3;.)A,1T,2`F*E@Y2X(1+%Q[AA[68G>!L"WHB!Q*4H,(>:: M"`Y*PRP?\>EA%N7'R#%W%A@(UDQ'FD^\8.%R)"'_HOC5T\H0G# M(20X-N(1RN(A_^Q(0CRJ48^#>`L`"/(`-(FQ$Y\(7P+K>$89&K(-:[S%F*3P M$RJPKS*3-.,5"WE))VH.&P!`AR(7.1H9P+"2/RQEY[YVC$&%J"('.$.BYO5" M2HZR5K(T)=V4,:F,4*P`!K@4++$X0F`&^7S'_ MA40V.A$[#XC1/X43+0A@!C7"`2N"*8J?[2QI1AM*"GXTXIR%8.D#!H"D!;"K ME_V4:2DR.0IW`0`/]JB4+:Y4CFY:)(M"K0112S$F0\V&/&G:X46C>CYY1D() MP"A&2Q(`BSME3(LQY>HHIEI3UT"%(KFL345-<*QDL>BL:I6J5P?QF^`HX)C) MU"54\PH1ME)BF@5](/(4<9UL$O8HAF5@;L33"'.B4U;J?.Q-(EL)^7SC9$_I M@[#VJ5F)<)82!#4H%1!:6I.SZKFMPPQL(&0=()1CZ+A@$X9+XRX"]( MT&"#,_C71B)8@$AG8(8#FR@@-FBP0PA``'.`\%O#F/"`;/"`12I@2A5&<`TZ M7.$I)>##MBU<3`I`(12O85`&"?? MY<#-SH(*#E#M"+?#0!G'"A;&GG(P;,1T(L.WX!$!KG,8%N`;0<$0`ZR)D&W&Y!J''0[ M%FN>`;D']F8:RV#=3FC)ER.<$7BWP0""5DBSMY'O!8`AW"/`]P(8@.\#*"3. M2S[1J&XS,ZZ'DG=#X#H3GW_E\[TI@MW`"MG-@FD+H*8\/PEIFN$RA&8,9P;`!UXW;H(J*[R:9'FZUI? M`=FM%!-F.TM>:8>Y4;XR=M+H+^PF$`W.Q>YVJV-]!10N09Y$%W\'@L44L?G[C)T,&2'#E%(ZAH+2E8I+101/ M"'#P?/)4"N.Y2@D&P'G:>[ZRGA<][$VO`IBLA/8MHV%Q36R/3&<-O_DK0"\"YGOP$S<"^RFH6`*FH'WN1W_[:J"V/91( MD^L'7^70+[_ZE9!]:D\__O8GOA`*$/AOHV,E&5(0,9%4_\[B$B:@!HDP)&`W M`IX`?QFA!F/01J8#"_Z70R)P(&]G#Q&H<0P($C*Q@`I8@!E"-O!U(&A'!NZU M`F\1>HTW=!88@BFH`A8S`+)7`">2@"(X5TK0"\XR@S5(-77W"SGD?.TU&@"@ M!J_'=@\(=="''RS@@UOW@$:4@T%`?YW0"\!W@1=(`+V`"!:C,L@T+U<1>DA6 M?``H#*:W91:#=UQH)<=74.CP"EV8"`>PABO090+1%V-H)6#H6$_X=G`H#F[X M&7V88A98AT?$@'G(AQ7CAR@P*,S%4SQ1*(6(`K(W'I`H&I(H!>)74`#@!-55 M`N/W@DV1$9GXB>A%=`&',23`@O\YY%^-:(@T\'8F0@(*IX5EV!)5UQ)FMA*A MAPX+9HJ(,"6_-W[?9@*U.`(G0H,V."05$Q-4E$MX%X@*!XP%8G:\R`+45C'P MUXS:LHL!D&XEX"K?Z`LG0E;ME8TI<"+L^(GWP!,%*(X'`@OLJ"WNN$Y`."3; MUQM@"@5>2=2(,L^671$A7=#(,%/:6:6F8A#`& MBUE$DNF8)]!&*T)SD!EX\4685(0.G^$(CW8?BNF$FDDAD#D:LZ`(CUDGI9F8 H5$"9/_!3+KEMD.<":^=T)"";*Z";-@%U,3"-4_>;N/F(-78,(0``.S\_ ` end GRAPHIC 4 h79787kbh00141b865.gif GRAPHIC begin 644 h79787kbh00141b865.gif M1TE&.#EA5@%P`,00`,#`P("`@$!`0/#P\-#0T&!@8.#@X%!04'!P<+"PL)"0 MD*"@H#`P,!`0$"`@(````/___P`````````````````````````````````` M`````````````````````````"'Y!`$``!``+`````!6`7````7_("2.9&F> M:*JN;.N^<"S/=&W?>*[O?.__P*!P2*0I'@%1X<$8)!P)"&)0K%JOV*QV*PH\ MD)#%(]$H"`*"A(++;KO?\*PA`3X\(((&&B&(^_^`@8(H`'5W>1`&"`MG@XZ/ MD)$_!$<%!&)D!1`$!0%HDJ"AHJ,F`E\/?0BH5`<#!@P'I+*SM+6VM[BYNKN\ MO;Z_P,'"P\3%QL?(RY]A> M"PP"9VEKZ#RG\_1?\9!T#@T*>WWW._4"WODWB(P#5(D6-2)X0V`]AH($--&W MJ=,GB#4253__XZ>4JERUTL[;V<:2OF0)HX2=G, MR5/4SIY`(?T,2C30T*)(X1Q-RI3+TJ90KSR-2G7(U*HX$@@H,("```)AJ#2] MBK5&H0)E#@0X0`!!5+)E9RQ)P+6`70%BQ\:,N\/4QU8+`B@HL``J7+XP5`U@ MX`#"@`/\2#(]C-B%@8,/"EL"T,[PWLHY`!@0`7;3:+TL0:MN^'FUZQB47\L> M$7NV[-JV7>/.K7HW[\J^?_,-+KPL\>)5C\L^\-4KV`5YDRIW?>0!`+5LW7I. MC3R%@0:F`-@U$UUZZ^XFS"Q1,"#PX,*H3Z)'8:KEX\C;Y<]'X04`A,V=Q:?1 M?B@8```5I1%PVO]DYQ&XVG0.!@5AA#U-2&%.%EY(4X8:OL1AARI]"&))(HZ( M48DF,H1B50J4WX(5'J((`=FV]U2"!`"Q@P`/CD:^T@`![0E& MF(P.:0A``PTL`-9]:S$ID(;U(02@/PP2&2$!`(0)5H(+FN=EBE2MB&8\:JYY M3IMN=@-GG-O,26J+KKKSBZNNOP`8K[+#$TEH:"9EN*H(`@TDV*%*1C@$!H@N8\6RZ4P8$ MX%\8(B@0Q;7@2M,(`&X-4`!;X2*U@`((@#=M`0DPD&Y1[$W;QQF%S)O4)_C> MI&]0GZ@%0&/_$O5)O`)H5S!0!I36\,(01RSQQ"082,(`VUJ\"16?4GQ.M@`D MX1@":@Q`<@#9)@&/Q_$0$(7(!("%\FC:A@P=R_\ GRAPHIC 5 h79787kbh001413400.gif GRAPHIC begin 644 h79787kbh001413400.gif M1TE&.#EA6`%P`,00`,#`P("`@$!`0/#P\-#0T)"0D.#@X'!P<*"@H+"PL%!0 M4&!@8#`P,!`0$"`@(````/___P`````````````````````````````````` M`````````````````````````"'Y!`$``!``+`````!8`7````7_("2.9&F> M:*JN;.N^<"S/=&W?>*[O?.__P*!P2-0M'@X"X,%<)!P)R&%0K%JOV*QV2UHF M&H)E(``0!`2)`G?-;KO?7$.@<4`\&@W$^2"`^_^`@8(J!`(/!P`'3PX0!G5F M@Y&2DY1!!5`.#9>+$`0+8WV5HJ.DI2<#A@X(`PH/#`00"@,&#`JFM[BY@7(( M(@0!40,!5`14NL?(R44&KH<�P/"0O4K,K7V-DW!0$(L.O^_S/H,1E(D$F`+00*`,@$3AP#$0(*++`% ML*)%%0(+%CRH)4$S`<^B10&&8$&HBRA3_V;4.)"C%@#[J,B1!Z$7A`)14NJT MN)+E`Y=86#T0H&2@$RA2C.U*O15K%FU%#-N[/@:9(-K`!B+BPX"S723-W?VO#FR%@(-[B08 M$*W!+T@"E"I+S7CUVM:@M01P,."!`L$#'"C`2D8;;Y^^DWW^N49P`7N&$D0\ MISO9!9N#ACTT'3.0(&$2'J"<(H`^M]_'QZ3)? M>0(4>)YV')W'"O]]N'RG48"Y#(B0`+T44F``A<"RRGNM-07`AR"&^&$_VDB8 MA1W4+5$@`@J40\!Y'*JFSGC^L08<@T+`I)]Q"GA"36[.`3@C<#7^=N,\U"'` M@%1PZ2&13=CD%,1E1L#_2R M@!(%QMC;D*T5*=V9",'$CY<8BJ`5`:6)"1^=F]DIWI%:&-#*0;3=<=M!0&(C M)6=D$FDEGL(Y0!URRC%WFJ`=$LJ8H?)A^A)UV-53`'=R0B>J3Z0*:"J6U*4G MP'H*M-#'@I=<[;Y19XJQ7E#04`DN`<]!^_>WZ8`R3#A2LI=`6:.W_M=;" MR,:5+;3S:SPL\&&@EG8IV**S4T([)AO"OM`NDHB^P"T+WJXR3"?=(1,M$S+L M&XX;[[80\*GQNC#O"@(%0,T"UJ!+Z0O^3ENG#`/36G`+!V/T0`$%+&A.H*#* M"$/$,8AH,H@44PM#Q5ADG(++*`303(\+Z+.GI.NZ0/+*.0NLLKL_P]L:FB7` M?$)"]_P;T40.2ZONH#Q##?3$,;!\A=$F8%V"1]&<1Y))3?/[=*A1DSUUH2E3 MO2VQ+&A=PB\YV813V/^.W#,+X]5]]JAIH]V&VR,`/L(1<#T1Q11T]WOW"GGW MS7?506\AN&ELKV#'%R:=D4:04NN\N`J-0Z[V_]ZPNC'YY*W&NX@YLW[A^,Q\/MTP@]O?.R"`5<5[\FWMKS))):0N@!= MTF47"_Y^VL+.$)8R7:RY7-Z`>XB=X?GM8XO?;709Y M]<04%G$4,DN2-,:'E?_-97$S#:3?`[OXMR^*P@`>.\'QL! M@4-3T(-R<@P']1KQ"*(EC8E!=.(>X=#'4L0%``EYP)O$1[Y/F&^!B,RC!A?I MAT;>0DU2H,QEY*=)EJ11AB?DY-JB*"!T/!*2IE%<)C$I1%6N`;AGF,_&K42.6,$`*800U!.F!AD8*G3Z!Y4N]Q=!`6:L0Z"R'(!PS` M20N`DAIG65-<>'(4[0``'OC!*5M\J1REU`A-BRJ*HY9"38VR#7K@9,>,4G44 M5B6%$H!1#)@D`!9_`ADJM?C5C3ZT%+"1C4!ZB9N+MA4E804C<8RSA&4V\ZYJ MR>LDKIE-CFES.]T$;%H$*XD_FJ<1ZF1GKMRI6*XPEA+V^88^P:`E_OBSLCNY M["0*>I[K($ZAH&6*:"?!"U\`@T_^2^U25AL)9G0M)-)(8`QER]L@<,,;#1F' M2"W8V^*R8PR4JT=/0W@SXSH7!RQ4"$/",0Z(P/"Y_]C-@0Y!`@UI\#`!);%C M=L>+`CW)I#DU\9,2R-9A/*\*4`0[:?#B%3/@"S90E,(2\!"/R-<$"-"'$Q@0 M$0"HM5="YG&N]&&#(._X%8GX<0G>1*$#'"#&!W@G#:B,@"S[=,`VH#*JNDQ@ M+)S5?!9>P@W.W(>-&0`!ZZ$!FR%@86%(F01G-8.:7WKG$71,ST,1@&5J\&ESW8#7T/!&#C@=Z39< MA\X&4#,.CCU&H1*ZS0CHA85OT**%3&:J+*BV`P(@!U>+0-L-^-",:Z#M6)1Y M!N%66)I;C&Z8.,'=PSY(NK4H^,,=@.WM':3B;HB+"$2>`Y$KX4,E MIPG)<6``$K4\!R\W#81IW`]`Z2#FHM&!S3LQ\QGLW,@Z+\W.VTOTHAM])]TD M^=1$#-[;@)D*UHBX2T/=:=>,A/ MI5#:4V!>!(@8.>=%L!_6BUX%Z:R]EQ3!;3+T_B!:68'I^['Y_>3^][=/P0"8 M#(`2YV0F"3(R=\+'0!F?$BT^3'5[#O>^=D//?5]4("]8P@6'+%24_=F_S?Q(3%A`FJ0"%07 M/0=Q$)[@)SS$;:7F?Z:!7@+H2DPV!G"T`@F"=NAP@`IA7AC3=EH7@;!G@!NB M`G'1@&CG"R-1@2!R@-[W=5K1,!@MZD!+WP(3:H%2O(0[,@B/`$07@-3QDA`A(@YJ&=C6H@T&@?IU@$P1@$X2A%4QH7\O4'5ZH)0E@ M1E(0`##"A*S7,7BWA05($UUH41]W`&SH?>B@:[L'$YH&A@606"M0AF:X>E*,0%B:7!*#73A\`4?.,H94AX8E\(J; MZ`N]L">^Z"46=XMOYV(0ET$M3N(OG5FDD,`4< M`R,&F(V_^$XPTH=2D(Q:\8TJ`"/J"'O7B(W:>`"PL(Y+^(L!>'V`L87#.(I2 M@(K]('X,(H_B.(SH^`,;J&7T=E:CB'*WARQZ2`)C.!OZ2`#:!X`0F%YDT$#O ME&S*J"4`^$C/V`L7F0(E"",0&9(!:(`L4)*T1P76EC.68E$,8Y`3>Q>8>NE:_]=@8]"/ M72>8)@!'[M!RCREX%3(&5H0.HN$(B;8?P_`+:K!W0F43G:D(A'"9ACD,=4D% IBAD$SM8M4Y5X+U!W1W<"L -----END PRIVACY-ENHANCED MESSAGE-----