SUPPLEMENT DATED FEBRUARY 28, 2024 TO THE CURRENT
STATUTORY PROSPECTUSES FOR:

Invesco Active Allocation Fund

Invesco American Franchise Fund

Invesco AMT-Free Municipal Income Fund

Invesco California Municipal Fund

Invesco Capital Appreciation Fund

Invesco Comstock Fund

Invesco Comstock Select Fund

Invesco Conservative Income Fund – Class A, Class Y and Class R6

Invesco Convertible Securities Fund

Invesco Core Plus Bond Fund

Invesco Corporate Bond Fund

Invesco Discovery Fund

Invesco Dividend Income Fund

Invesco Energy Fund

Invesco Environmental Focus Municipal Fund

Invesco Equally-Weighted S&P 500 Fund

Invesco Equity and Income Fund

Invesco EQV European Small Company Fund

Invesco EQV International Small Company Fund

Invesco Floating Rate ESG Fund

Invesco Global Core Equity Fund

Invesco Global Real Estate Fund

Invesco Global Real Estate Income Fund

Invesco Gold and Special Minerals Fund

Invesco Government & Agency Portfolio

Invesco Government Money Market Fund

Invesco Growth & Income Fund

Invesco High Yield Fund

Invesco High Yield Municipal Fund

Invesco Income Advantage International Fund

Invesco Income Advantage U.S. Fund

Invesco Income Allocation Fund

Invesco Income Fund

Invesco Intermediate Bond Factor Fund

Invesco Intermediate Term Municipal Income Fund

Invesco International Diversified Fund

Invesco Limited Term California Municipal Fund

Invesco Limited Term Municipal Income Fund

Invesco Liquid Assets Portfolio

Invesco Main Street Mid Cap Fund®

Invesco Main Street Small Cap Fund®

Invesco Municipal Income Fund

Invesco NASDAQ 100 Index Fund

Invesco New Jersey Municipal Fund

Invesco Pennsylvania Municipal Fund

Invesco Premier Portfolio - Investor Class

Invesco Premier U.S Government Money Portfolio – Investor Class

Invesco Quality Income Fund

Invesco Real Estate Fund

Invesco Rochester® AMT-Free New York Municipal Fund

Invesco Rochester® Limited Term New York Municipal Fund

Invesco Rochester® Municipal Opportunities Fund

Invesco Rochester® New York Municipals Fund

Invesco S&P 500 Index Fund

Invesco Select Risk: Conservative Investor Fund

Invesco Select Risk: Growth Investor Fund

Invesco Select Risk: High Growth Investor Fund

Invesco Select Risk: Moderate Investor Fund

Invesco Select Risk: Moderately Conservative Investor Fund

Invesco Senior Floating Rate Fund

Invesco Short Duration High Yield Municipal Fund

Invesco Short Duration Inflation Protected Fund

Invesco Short Term Bond Fund

Invesco Short Term Municipal Fund

Invesco Small Cap Equity Fund

Invesco Small Cap Growth Fund

Invesco Small Cap Value Fund

Invesco SMA High Yield Bond Fund

Invesco SMA Municipal Bond Fund

Invesco STIC Prime Portfolio

Invesco Technology Fund

Invesco Treasury Obligations Portfolio

Invesco Treasury Portfolio

Invesco U.S. Government Money Portfolio

Invesco Value Opportunities Fund 

(each, a “Fund”)

This supplement amends the Statutory Prospectus for each of the above referenced funds and is in addition to any other supplement(s), unless otherwise specified. You should read this supplement in conjunction with the Statutory Prospectus for each of the above referenced funds and retain it for future reference.

1. The following information replaces in its entirety the information regarding redemptions initiated by the Funds under the heading “Shareholder Account Information – Redeeming Shares – Redemptions Initiated by the Funds” in the prospectus for each Fund:

If your account has been open at least one year, you have not made an additional purchase in the account during the past six calendar months, and the value of your account falls below $500 for three consecutive months, for any reason, including market fluctuation, the Funds have the right to redeem the account after giving you 60 days’ prior written notice. You may avoid having your account redeemed during the notice period by bringing the account value up to $500 or by initiating a Systematic Purchase Plan.

A financial intermediary may have a different policy regarding redemptions of accounts with small balances. The Fund is not responsible for any small account balance policies imposed by financial intermediaries or for notifying shareholders of any changes to them. See “Waivers Available Through Certain Financial Intermediaries and Other Financial Intermediary-Specific Arrangements” for more information on certain intermediary-specific small account balance policies. Please consult with your financial intermediary if you have any questions regarding their policies.

If a Fund determines that you have not provided a correct Social Security or other tax identification number on your account application, or the Fund is not able to verify your identity as required by law, the Fund may, at its discretion, redeem the account and distribute the proceeds to you.

In order to separate retail investors (natural persons) and non-retail investors, the Invesco Premier Portfolio reserve the right to redeem shares in any account that the Funds cannot confirm to their satisfaction are beneficially owned by natural persons. The Funds will provide advance written notice of their intent to make any such involuntary redemptions. The Funds reserve the right to redeem shares in any account that they cannot confirm to their satisfaction are beneficially owned by natural persons, after providing advance notice.

Neither a Fund nor its investment adviser will be responsible for any loss in an investor’s account or tax liability resulting from an involuntary redemption.

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2. The following information replaces in its entirety the section titled “Shareholder Account Information – Redeeming Shares – Minimum Account Balance (Applicable for all classes except R5 and R6 Shares)” in the prospectus for each Fund:

Minimum Account Balance

A low balance fee of $12 per year (the Low Balance Fee) may be deducted annually from all accounts held in the Funds (each a Fund Account) with a value less than $750 (the Low Balance Amount). The Low Balance Fee and Low Balance Amount are determined by the Funds and the Adviser, and may be adjusted for any year depending on various factors, including market conditions. The Low Balance Fee, Low Balance Amount and the date on which the Low Balance Fee will be deducted from any Fund Account will be posted on our website, www.invesco.com/us, on or about November 1 of each year. This fee is collected by the Funds' transfer agent by redeeming sufficient shares from the shareholder's Fund Account, and is used to reduce the expenses that would otherwise be payable by the Funds to the Funds' transfer agent under the Funds' agreement with the transfer agent.

The Low Balance Fee and Low Balance Amount do not apply to Fund Accounts held in a Retirement and Benefit Plan for which an Invesco Affiliate acts as the plan document provider or custodian for underlying participant or IRA accounts. However, for purposes of all other Retirement and Benefit Plans, the Low Balance Fee and Low Balance Amount shall apply to each Fund Account (as appropriate) that is maintained by the Funds' transfer agent in the underlying participant or IRA Account.

The Funds and the Adviser reserve the right to waive the Low Balance Fee, change the Low Balance amount or modify the conditions for assessment of the Low Balance Fee at any time.

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