Invesco Bond Fund (VBF) N-CSRS Certified semi-annual shareholder report (management investment company)

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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 811-02090

Invesco Van Kampen Bond Fund

(Exact name of registrant as specified in charter)

1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Address of principal executive offices) (Zip code)

Colin D. Meadows 1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Name and address of agent for service)

Registrant’s telephone number, including area code: (713) 626-1919

Date of fiscal year end: 6/30

Date of reporting period: 12/31/10

Item 1. Reports to Stockholders.

Invesco Van Kampen Bond Fund

Semiannual Report to Shareholders ■ December 31, 2010

NYSE: VBF

2	Fund Performance
3	Dividend Reinvestment Plan
4	Schedule of Investments
16	Financial Statements
19	Financial Highlights
19	Notes to Financial Statements
24	Results of Proxy

Unless otherwise noted, all data provided by Invesco.

NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE

Fund Performance

Performance summary

Cumulative total returns, 6/30/10 to 12/31/10

Fund at NAV	3.76	%
Fund at Market Value	–2.75
Barclays Capital Baa U.S. Corporate Bond Index▼	3.71
Market Price Discount to NAV as of 12/31/10	–6.66

^▼ Lipper Inc.

The performance data quoted represent past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return, net asset value and common share market price will fluctuate so that you may have a gain or loss when you sell shares. Please visit invesco.com/performance for the most recent month-end performance. Performance figures reflect Fund expenses, the reinvestment of distributions (if any) and changes in net asset value (NAV) for performance based on NAV and changes in market price for performance based on market price.

     Since the Fund is a closed-end management investment company, shares of the Fund may trade at a discount or premium from the NAV. This characteristic is separate and distinct from the risk that NAV could decrease as a result of investment activities and may be a greater risk to investors expecting to sell their shares after a short time. The Fund cannot predict whether shares will trade at, above or below NAV. The Fund should not be viewed as a vehicle for trading purposes. It is designed primarily for risk-tolerant long-term investors.

The Barclays Capital Baa U.S. Corporate Bond Index is the Baa component of the U.S. Corporate Investment Grade Index.

     The Fund is not managed to track the performance of any particular index, including the index(es) defined here, and consequently, the performance of the Fund may deviate significantly from the performance of the index(es).

     A direct investment cannot be made in an index. Unless otherwise indicated, index results include reinvested dividends, and they do not reflect sales charges. Performance of the peer group, if applicable, reflects fund expenses; performance of a market index does not.

Portfolio Management Update

     The following individuals are jointly and primarily responsible for the day-to-day management of Invesco Van Kampen Bond Fund.

     Effective January 12, 2011, Peter Ehret joined the Fund’s management team. He has been associated with the

Fund NYSE Symbol VBF

adviser or its affiliates in an investment management capacity since 2001.

     Chuck Burge began managing the Fund in June 2010 and has been associated with the adviser or its affiliates in an investment management capacity since 2002.

     John Craddock began managing the Fund in June 2010 and has been associated with the adviser or its affiliates in an investment management capacity since 1999.

2     Invesco Van Kampen Bond Fund

Dividend Reinvestment Plan

The dividend reinvestment plan (the Plan) offers you a prompt and simple way to reinvest your dividends and capital gains distributions (Distributions) into additional shares of your Fund. Under the Plan, the money you earn from Distributions will be reinvested automatically in more shares of your Fund, allowing you to potentially increase your investment over time.

Plan benefits

n	Add to your account
	You may increase the amount of shares in your Fund easily and automatically with the Plan.
n	Low transaction costs
	Shareholders who participate in the Plan are able to buy shares at below-market prices when the Fund is trading at a premium to its net asset value (NAV). In addition, transaction costs are low because when new shares are issued by a Fund, there is no fee, and when shares are bought in blocks on the open market, the per share fee is shared among all Participants.
n	Convenience
	You will receive a detailed account statement from Computershare Trust Company, N.A. (the Agent) which administers the Plan. The statement shows your total Distributions, date of investment, shares acquired, and price per share, as well as the total number of shares in your reinvestment account. You can also access your account via the Internet. To do this, please go to invesco.com/us.
n	Safekeeping
	The Agent will hold the shares it has acquired for you in safekeeping.

How to participate in the Plan

If you own shares in your own name, you can participate directly in the Plan. If your shares are held in “street name” — in the name of your brokerage firm, bank, or other financial institution — you must instruct that entity to participate on your behalf. If they are unable to participate on your behalf, you may request that they reregister your shares in your own name so that you may enroll in the Plan.

How to enroll

To enroll in the Plan, please read the Terms and Conditions in the Plan Brochure. You can enroll in the Plan by visiting invesco.com/us, calling toll-free 800 341 2929 or notifying us in writing at Invesco Van Kampen Closed-End Funds, Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. Please include your Fund name and account number and ensure that all shareholders listed on the account sign these written instructions. Your participation in the Plan will begin with the next Distribution payable after the Agent receives your authorization, as long as they receive it before the “record date,” which is generally 10 business days before such Distributions are paid. If your authorization arrives after such record date, your participation in the Plan will begin with the following Distributions.

Costs of the Plan

There is no direct charge to you for reinvesting Distributions because the Plan’s fees are paid by your Fund. If your Fund is trading at or above its NAV, your new shares are issued directly by the Fund and there are no brokerage charges or fees. However, if your Fund is trading at a discount, the shares are purchased on the open market, and you will pay your portion of per share fees. These per share fees are typically less than the standard brokerage charges for individual transactions because shares are purchased for all Participants in blocks, resulting in lower fees for each individual Participant. Any service or per share fees are added to the purchase price. Per share fees include any applicable brokerage commissions the Agent is required to pay.

Tax implications

The automatic reinvestment of Distributions does not relieve you of any income tax that may be due on Distributions. You will receive tax information annually to help you prepare your federal income tax return.

     Invesco does not offer tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used, by any taxpayer for avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws. Federal and state tax laws are complex and constantly changing. Shareholders should always consult a legal or tax adviser for information concerning their individual situation.

How to withdraw from the Plan

You may withdraw from the Plan at any time by calling 800 341 2929, visiting invesco.com/us or by writing to Invesco Van Kampen Closed-End Funds, Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. Simply indicate that you would like to withdraw from the Plan, and be sure to include your Fund name and account number. Also, ensure that all shareholders listed on the account have signed these written instructions. If you withdraw, you have three options with regard to the shares held in the Plan:

1. If you opt to continue to hold your non-certificated whole shares (Investment Plan Book Shares), they will be held by the Agent electronically as Direct Registration Book-Shares (Book-Entry Shares) and fractional shares will be sold at the then-current market price. Proceeds will be sent via check to your address of record after deducting applicable fees.

2.

If you opt to sell your shares through the Agent, we will sell all full and fractional shares and send the proceeds via check to your address of record after deducting a $2.50 per share fee and applicable per share fee. Per share fees include any applicable brokerage commissions the Agent is required to pay.

3.

You may sell your shares through your financial adviser through the Direct Registration System (DRS). DRS is a service within the securities industry that allows Fund shares to be held in your name in electronic format. You retain full ownership of your shares, without having to hold a stock certificate. You should contact your financial adviser to learn more about any restrictions or fees that may apply.

   To obtain a complete copy of the Dividend Reinvestment Plan, please call our Client Services department at 800 341 2929 or visit invesco.com/us.

3      Invesco Van Kampen Bond Fund

Schedule of Investments

December 31, 2010

(Unaudited)

						Par
						Amount
	Coupon			Maturity		(000)		Value
Corporate Bonds–91.6%
Advertising–0.6%
WPP Finance UK PLC (United Kingdom)		8.000	%		09/15/14	$	1,080	$	1,245,377
Aerospace & Defense–0.5%
Bombardier, Inc. (Canada)(a)		7.500	%		03/15/18		225		242,719
Bombardier, Inc. (Canada)(a)		7.750	%		03/15/20		455		495,950
Raytheon Co.		1.625	%		10/15/15		305		293,094
									1,031,763
Agricultural Products–0.6%
Cargill, Inc.(a)		5.600	%		09/15/12		600		645,138
Corn Products International, Inc.		3.200	%		11/01/15		460		463,505
Corn Products International, Inc.		6.625	%		04/15/37		300		313,776
									1,422,419
Airlines–1.0%
America West Airlines LLC		7.100	%		04/02/21		381		386,579
Continental Airlines 2010-1 Class B Pass Through Trust		6.000	%		01/12/19		770		775,775
Delta Air Lines 2010-2 Pass Through Trust		4.950	%		11/23/19		500		503,125
Delta Air Lines, Inc.		6.200	%		07/02/18		560		601,300
									2,266,779
Alternative Carriers–0.2%
Hughes Network Systems LLC		9.500	%		04/15/14		120		124,350
Intelsat Subsidiary Holding Co., Ltd. (Bermuda)		8.500	%		01/15/13		275		277,062
									401,412
Apparel, Accessories & Luxury Goods–0.0%
Phillips-Van Heusen Corp.		7.375	%		05/15/20		55		58,437
Asset Management & Custody Banks–0.2%
State Street Capital Trust III(b)		8.250	%		01/29/49		435		440,981
Auto Parts & Equipment–0.0%
Tenneco, Inc.		6.875	%		12/15/20		75		76,500
Automobile Manufacturers–0.6%
Case New Holland, Inc.		7.750	%		09/01/13		1,000		1,080,000
Ford Motor Credit Co., LLC		7.450	%		07/16/31		205		221,400
									1,301,400
Automotive Retail–1.1%
Advance Auto Parts, Inc.		5.750	%		05/01/20		1,600		1,662,000
AutoZone, Inc.		6.500	%		01/15/14		675		749,405
									2,411,405

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

4        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Brewers–1.9%
Anheuser-Busch InBev Worldwide, Inc.		2.500	%		03/26/13	$	2,000	$	2,043,722
Anheuser-Busch InBev Worldwide, Inc.		3.000	%		10/15/12		2,000		2,064,694
Anheuser-Busch InBev Worldwide, Inc.(a)		8.200	%		01/15/39		120		163,749
									4,272,165
Broadcasting–1.9%
CBS Corp.		8.875	%		05/15/19		570		718,172
COX Communications, Inc.		6.750	%		03/15/11		820		830,080
COX Communications, Inc.(a)		8.375	%		03/01/39		305		394,141
Discovery Communications LLC		3.700	%		06/01/15		2,000		2,071,996
Grupo Televisa SA (Mexico)		6.000	%		05/15/18		210		231,544
									4,245,933
Cable & Satellite–3.5%
Comcast Corp.		5.150	%		03/01/20		210		221,134
Comcast Corp.		5.700	%		05/15/18		1,545		1,695,543
Comcast Corp.		6.450	%		03/15/37		580		620,819
Comcast Corp.		6.500	%		01/15/15		500		570,129
CSC Holdings, Inc.		7.625	%		07/15/18		250		274,375
DirecTV Holdings LLC		7.625	%		05/15/16		2,100		2,336,250
Time Warner Cable, Inc.		5.875	%		11/15/40		800		795,236
Time Warner Cable, Inc.		6.750	%		06/15/39		310		342,925
Time Warner Cable, Inc.		8.250	%		04/01/19		295		365,448
Time Warner Cable, Inc.		8.750	%		02/14/19		455		580,959
XM Satellite Radio, Inc.(a)		7.625	%		11/01/18		50		51,875
									7,854,693
Casinos & Gaming–0.1%
MGM Resorts International		6.625	%		07/15/15		215		198,337
Wynn Las Vegas LLC		7.875	%		11/01/17		65		70,200
									268,537
Coal & Consumable Fuels–0.2%
Arch Coal, Inc.		7.250	%		10/01/20		500		528,125
Computer & Electronics Retail–0.0%
Rent-A-Center, Inc.(a)		6.625	%		11/15/20		75		75,187
Construction & Farm Machinery & Heavy Trucks–0.0%
Navistar International Corp.		8.250	%		11/01/21		100		108,250
Construction Materials–0.8%
CRH America, Inc.		6.000	%		09/30/16		720		766,408
CRH America, Inc.		8.125	%		07/15/18		315		365,831
Holcim US Finance Sarl & Cie SCS (Luxembourg)(a)		6.000	%		12/30/19		455		474,765
Texas Industries, Inc.(a)		9.250	%		08/15/20		115		122,762
									1,729,766

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

5        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Consumer Finance–2.5%
American Express Co.		8.125	%		05/20/19	$	1,550	$	1,917,916
Capital One Bank USA NA		8.800	%		07/15/19		645		797,432
Capital One Capital VI		8.875	%		05/15/40		600		626,250
SLM Corp.		5.000	%		10/01/13		1,930		1,948,298
SLM Corp.		8.000	%		03/25/20		435		443,553
									5,733,449
Department Stores–1.0%
Macy’s Retail Holdings, Inc.		5.350	%		03/15/12		2,000		2,075,000
Sears Holdings Corp.(a)		6.625	%		10/15/18		150		141,750
									2,216,750
Diversified Banks–11.2%
Ally Financial, Inc.(a)		7.500	%		09/15/20		205		218,325
Barclays Bank PLC (United Kingdom)		5.140	%		10/14/20		520		471,073
Barclays Bank PLC (United Kingdom)(a)		6.050	%		12/04/17		335		342,584
Barclays Bank PLC (United Kingdom)		6.750	%		05/22/19		1,280		1,450,041
Credit Agricole SA (France)(a)(b)		8.375	%		10/29/49		1,200		1,249,396
Credit Suisse (Switzerland)		5.400	%		01/14/20		475		486,048
Credit Suisse New York (Switzerland)		4.375	%		08/05/20		750		735,451
Credit Suisse New York (Switzerland)		5.300	%		08/13/19		2,785		2,945,595
Credit Suisse New York (Switzerland)		6.000	%		02/15/18		230		247,782
Groupe BPCE (France)(a)		2.375	%		10/04/13		775		773,080
Hana Bank (Republic of Korea (South Korea))(a)		4.500	%		10/30/15		1,075		1,091,391
HBOS PLC (United Kingdom)(a)		6.750	%		05/21/18		1,080		1,010,865
HSBC Bank PLC (United Kingdom)(a)		4.125	%		08/12/20		1,275		1,248,900
HSBC Bank USA NA		4.875	%		08/24/20		250		249,367
HSBC Finance Corp.		6.676	%		01/15/21		957		969,837
Korea Development Bank (Republic of Korea (South Korea))		4.375	%		08/10/15		1,135		1,165,903
Lloyds TSB Bank PLC (United Kingdom)(a)		5.800	%		01/13/20		690		680,386
Lloyds TSB Bank PLC (United Kingdom)(a)		6.500	%		09/14/20		540		498,012
Rabobank Nederland NV (Netherlands)(a)(b)		11.000	%		06/29/49		210		271,681
Royal Bank of Scotland Group PLC (United Kingdom)		6.400	%		10/21/19		760		774,682
Royal Bank of Scotland PLC (United Kingdom)		4.875	%		03/16/15		1,160		1,181,700
Santander US Debt SA Unipersonal (Spain)(a)		2.991	%		10/07/13		500		485,863
Santander US Debt SA Unipersonal (Spain)(a)		3.724	%		01/20/15		800		791,284
Societe Generale (France)(a)		2.500	%		01/15/14		600		600,094
Standard Chartered Bank (United Kingdom)(a)		6.400	%		09/26/17		800		855,105
Standard Chartered PLC (United Kingdom)(a)		3.850	%		04/27/15		270		275,989
US Bancorp		2.000	%		06/14/13		625		634,588
VTB Bank Via VTB Capital SA (Luxembourg)(a)		6.551	%		10/13/20		875		864,121
Wells Fargo & Co.		5.625	%		12/11/17		2,570		2,862,876
									25,432,019
Diversified Capital Markets–0.5%
UBS AG Stamford Branch (Switzerland)		5.875	%		12/20/17		985		1,085,354

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

6        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Diversified Metals & Mining–2.3%
Anglo American Capital PLC (United Kingdom)(a)		9.375	%		04/08/19	$	660	$	876,112
Freeport-McMoRan Cooper & Gold, Inc.		8.375	%		04/01/17		1,320		1,458,188
Rio Tinto Finance USA Ltd. (Australia)		9.000	%		05/01/19		1,750		2,353,738
Southern Copper Corp.		5.375	%		04/16/20		230		234,144
Southern Copper Corp.		6.750	%		04/16/40		335		352,544
									5,274,726
Diversified REIT’s–0.2%
Qatari Diar Finance QSC (Qatar)(a)		5.000	%		07/21/20		545		550,855
Drug Retail–1.4%
CVS Pass-Through Trust(a)		5.773	%		01/10/33		1,690		1,681,148
CVS Pass-Through Trust		6.036	%		12/10/28		1,279		1,294,078
CVS Pass-Through Trust(a)		8.353	%		07/10/31		200		239,029
									3,214,255
Electric Utilities–3.7%
DCP Midstream LLC(a)		9.700	%		12/01/13		1,500		1,783,341
DCP Midstream LLC(a)		9.750	%		03/15/19		500		634,211
Enel Finance International SA (Luxembourg)(a)		5.125	%		10/07/19		820		812,461
Enel Finance International SA (Luxembourg)(a)		5.700	%		01/15/13		500		531,395
Entergy Gulf States Louisiana LLC		5.590	%		10/01/24		650		696,780
Ohio Power Co.		5.375	%		10/01/21		350		373,550
Progress Energy, Inc.		6.850	%		04/15/12		650		697,765
Progress Energy, Inc.		7.050	%		03/15/19		340		405,370
Southern Co.		2.375	%		09/15/15		400		394,362
Southern Power Co., Ser D		4.875	%		07/15/15		1,175		1,271,916
Virginia Electric & Power Co.		8.875	%		11/15/38		595		867,466
									8,468,617
Electrical Components & Equipment–0.0%
Polypore International, Inc.(a)		7.500	%		11/15/17		30		30,900
Electronic Components–0.3%
Corning, Inc.		6.625	%		05/15/19		140		161,420
Corning, Inc.		7.250	%		08/15/36		490		556,422
									717,842
Electronic Manufacturing Services–0.1%
Jabil Circuit, Inc.		5.625	%		12/15/20		150		148,125
Environmental & Facilities Services–0.3%
Waste Management, Inc.		5.000	%		03/15/14		645		697,560
Food Retail–1.0%
Kroger Co.		5.400	%		07/15/40		1,350		1,293,032
Safeway, Inc.		3.950	%		08/15/20		1,000		949,421
									2,242,453

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

7        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Gold–0.6%
Gold Fields Orogen Holding Ltd. (British Virgin Islands)(a)		4.875	%		10/07/20	$	1,000	$	953,715
Newmont Mining Corp.		6.250	%		10/01/39		475		515,935
									1,469,650
Health Care Equipment–0.9%
Boston Scientific Corp.		6.000	%		01/15/20		1,400		1,465,938
CareFusion Corp.		4.125	%		08/01/12		600		624,840
									2,090,778
Health Care Facilities–0.1%
HCA, Inc.		7.875	%		02/15/20		155		166,625
Tenet Healthcare Corp.		9.250	%		02/01/15		30		32,100
									198,725
Health Care Services–0.9%
Express Scripts, Inc.		5.250	%		06/15/12		1,585		1,676,201
Laboratory Corp. of America Holdings		3.125	%		05/15/16		250		246,404
									1,922,605
Health Care Technology–0.0%
MedAssets, Inc.(a)		8.000	%		11/15/18		85		85,850
Home Improvement Retail–0.7%
Home Depot, Inc.		5.875	%		12/16/36		800		835,754
Lowe’s Cos, Inc.		3.750	%		04/15/21		795		770,490
									1,606,244
Hotels, Resorts & Cruise Lines–0.6%
Hyatt Hotels Corp.(a)		6.875	%		08/15/19		155		168,751
Wyndham Worldwide Corp.		6.000	%		12/01/16		1,145		1,204,397
									1,373,148
Housewares & Specialties–0.2%
Fortune Brands, Inc.		6.375	%		06/15/14		375		405,957
Hypermarkets & Super Centers–0.2%
Wal-Mart Stores, Inc.		5.250	%		09/01/35		400		404,550
Independent Power Producers & Energy Traders–0.7%
AES Corp.		8.000	%		06/01/20		1,055		1,123,575
Indianapolis Power & Light Co.(a)		6.300	%		07/01/13		255		280,143
NRG Energy, Inc.		8.500	%		06/15/19		240		248,400
									1,652,118
Industrial Conglomerates–2.8%
General Electric Capital Corp.		5.500	%		01/08/20		320		342,073
General Electric Capital Corp.		5.875	%		01/14/38		360		375,330
General Electric Capital Corp.		6.000	%		08/07/19		1,000		1,119,750
General Electric Co.		5.250	%		12/06/17		1,330		1,431,905
Hutchison Whampoa International 10 Ltd. (Cayman Islands)(a)(b)		6.000	%		12/29/49		2,290		2,255,650

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

8        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Industrial Conglomerates–(continued)
NBC Universal, Inc.(a)		2.100	%		04/01/14	$	375	$	374,934
NBC Universal, Inc.(a)		5.950	%		04/01/41		355		356,576
									6,256,218
Integrated Oil & Gas–0.6%
Hess Corp.		5.600	%		02/15/41		450		448,767
Lukoil International Finance BV (Netherlands)(a)		6.125	%		11/09/20		960		965,057
									1,413,824
Integrated Telecommunication Services–4.7%
AT&T Corp.		8.000	%		11/15/31		86		108,616
AT&T, Inc.(a)		5.350	%		09/01/40		2,874		2,700,965
CenturyTel, Inc.		6.150	%		09/15/19		295		298,515
Deutsche Telekom International Finance BV (Netherlands)		6.000	%		07/08/19		150		170,685
Deutsche Telekom International Finance BV (Netherlands)		6.750	%		08/20/18		225		266,079
Deutsche Telekom International Finance BV (Netherlands)		8.750	%		06/15/30		440		591,506
Qtel International Finance Ltd. (Bermuda)(a)		3.375	%		10/14/16		515		495,904
Qtel International Finance Ltd. (Bermuda)(a)		4.750	%		02/16/21		250		242,994
Qwest Communications International, Inc.		7.125	%		04/01/18		25		25,875
Qwest Corp.		6.875	%		09/15/33		210		206,850
SBC Communications, Inc.		6.150	%		09/15/34		1,185		1,237,112
Telecom Italia Capital SA (Luxembourg)		6.999	%		06/04/18		1,850		1,957,344
Telecom Italia Capital SA (Luxembourg)		7.175	%		06/18/19		230		245,959
Verizon Communications, Inc.		6.400	%		02/15/38		200		222,169
Verizon Communications, Inc.		8.950	%		03/01/39		1,360		1,949,298
									10,719,871
Internet Retail–0.7%
Expedia, Inc.		5.950	%		08/15/20		1,555		1,565,545
Investment Banking & Brokerage–3.5%
Charles Schwab Corp.		4.450	%		07/22/20		875		882,524
Goldman Sachs Group, Inc.		3.700	%		08/01/15		615		627,564
Goldman Sachs Group, Inc.		6.750	%		10/01/37		1,320		1,362,359
Jefferies Group, Inc.		6.875	%		04/15/21		1,010		1,063,575
Macquarie Group Ltd. (Australia)(a)		6.000	%		01/14/20		1,095		1,104,607
Macquarie Group Ltd. (Australia)(a)		7.625	%		08/13/19		498		551,282
Morgan Stanley		3.450	%		11/02/15		1,000		981,811
Morgan Stanley		4.000	%		07/24/15		1,000		1,013,091
Schwab Capital Trust I(b)		7.500	%		11/15/37		385		399,185
									7,985,998
IT Consulting & Other Services–0.4%
SAIC, Inc.(a)		4.450	%		12/01/20		575		575,926
SAIC, Inc.(a)		5.950	%		12/01/40		380		387,063
									962,989

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

9        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Leisure Facilities–0.1%
Universal City Development Partners Ltd.		8.875	%		11/15/15	$	150	$	160,500
Life & Health Insurance–4.0%
Aegon NV (Netherlands)		4.625	%		12/01/15		650		672,363
Aflac, Inc.		6.450	%		08/15/40		200		207,633
Aflac, Inc.		8.500	%		05/15/19		540		669,208
Farmers Insurance Exchange Surplus(a)		8.625	%		05/01/24		980		1,078,857
MetLife, Inc.		2.375	%		02/06/14		255		256,586
MetLife, Inc.		5.700	%		06/15/35		75		76,331
MetLife, Inc.		6.817	%		08/15/18		50		58,193
MetLife, Inc.		10.750	%		08/01/39		785		1,059,750
Pacific LifeCorp(a)		6.000	%		02/10/20		1,150		1,214,550
Prudential Financial, Inc.		4.750	%		09/17/15		820		873,261
Prudential Financial, Inc.		6.200	%		11/15/40		1,500		1,591,346
Prudential Financial, Inc.		6.625	%		12/01/37		390		429,635
Prudential Financial, Inc.		7.375	%		06/15/19		645		758,399
									8,946,112
Life Sciences Tools & Services–0.3%
Life Technologies Corp.		6.000	%		03/01/20		610		653,980
Managed Health Care–0.4%
UnitedHealth Group, Inc.		3.875	%		10/15/20		400		382,584
WellPoint, Inc.		5.800	%		08/15/40		450		455,189
									837,773
Metal & Glass Containers–0.1%
Ardagh Packing Finance PLC (Ireland)(a)		7.375	%		10/15/17		200		208,133
Movies & Entertainment–1.2%
AMC Entertainment, Inc.		8.750	%		06/01/19		200		214,000
News America, Inc.		6.400	%		12/15/35		325		349,768
News America, Inc.		6.650	%		11/15/37		600		667,272
Time Warner Cable, Inc.		6.750	%		07/01/18		685		797,618
Time Warner, Inc.		6.500	%		11/15/36		675		740,892
									2,769,550
Multi-Line Insurance–1.2%
American International Group, Inc.		3.650	%		01/15/14		610		617,015
AIG SunAmerica Global Financing VI(a)		6.300	%		05/10/11		795		812,093
American Financial Group, Inc.		9.875	%		06/15/19		1,055		1,271,053
									2,700,161
Multi-Utilities–0.9%
CMS Energy Corp.		6.300	%		02/01/12		50		52,250
Consumers Energy Co.		5.800	%		09/15/35		480		504,791
Dominion Resources, Inc.		2.250	%		09/01/15		500		492,452

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

10        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Multi-Utilities–(continued)
Dominion Resources, Inc.		7.000	%		06/15/38	$	315	$	382,409
Nisource Finance Corp.		6.800	%		01/15/19		535		606,985
									2,038,887
Office REIT’s–0.7%
Digital Realty Trust LP(a)		4.500	%		07/15/15		1,525		1,540,926
Oil & Gas Drilling–0.9%
Transocean, Inc. (Cayman Islands)		4.950	%		11/15/15		1,985		2,049,995
Oil & Gas Exploration & Production–3.0%
Anadarko Petroleum Corp.		6.375	%		09/15/17		1,700		1,851,236
Chesapeake Energy Corp.		6.625	%		08/15/20		70		68,862
Empresa Nacional de Petroleo (Chile)(a)		5.250	%		08/10/20		365		367,369
EnCana Corp. (Canada)		6.500	%		02/01/38		945		1,029,468
EOG Resources, Inc.		4.100	%		02/01/21		1,055		1,043,814
Gaz Capital SA (Luxembourg)(a)		6.510	%		03/07/22		265		271,625
Newfield Exploration Co.		7.125	%		05/15/18		290		306,675
Petrohawk Energy Corp.		7.250	%		08/15/18		100		101,375
Petroleos Mexicanos (Mexico)		5.500	%		01/21/21		630		640,278
Pioneer Natural Resources Co.		6.650	%		03/15/17		145		154,837
Plains Exploration & Production Co.		7.625	%		06/01/18		320		338,400
Range Resources Corp.		7.500	%		05/15/16		500		520,000
									6,693,939
Oil & Gas Refining & Marketing–0.0%
Tesoro Corp.		6.500	%		06/01/17		85		85,531
Oil & Gas Storage & Transportation–3.0%
Copano Energy LLC		8.125	%		03/01/16		110		114,400
Enterprise Products Operating LLC		5.250	%		01/31/20		250		259,887
Enterprise Products Operating LLC		5.600	%		10/15/14		720		795,031
Enterprise Products Operating LLC		6.450	%		09/01/40		1,250		1,354,962
Kinder Morgan Energy Partners LP		5.850	%		09/15/12		560		601,522
Kinder Morgan Finance Co. (Canada)		5.700	%		01/05/16		585		595,238
Regency Energy Partners LP		6.875	%		12/01/18		95		96,663
Spectra Energy Capital LLC		5.668	%		08/15/14		500		549,850
Spectra Energy Capital LLC		8.000	%		10/01/19		225		275,011
Texas Eastern Transmission LP		7.000	%		07/15/32		755		886,535
Williams Partners LP		7.250	%		02/01/17		1,000		1,163,716
									6,692,815
Other Diversified Financial Services–5.9%
Bank of America Corp.		3.700	%		09/01/15		500		497,127
Bank of America Corp.		5.650	%		05/01/18		800		827,210
Bank of America Corp.		7.625	%		06/01/19		695		802,681
Bear Stearns Cos., LLC		5.550	%		01/22/17		1,030		1,093,568
Bear Stearns Cos., LLC		6.400	%		10/02/17		315		360,212

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

11        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Other Diversified Financial Services–(continued)
Bear Stearns Cos., LLC		7.250	%		02/01/18	$	680	$	807,116
Citigroup, Inc.		5.875	%		05/29/37		1,095		1,083,900
Citigroup, Inc.		6.125	%		05/15/18		1,450		1,589,620
Citigroup, Inc.		8.125	%		07/15/39		745		951,555
ERAC USA Finance LLC(a)		2.750	%		07/01/13		555		564,591
ERAC USA Finance LLC(a)		5.800	%		10/15/12		200		214,270
ING Bank NV (Netherlands)(a)		3.000	%		09/01/15		510		499,977
International Lease Finance Corp.		8.250	%		12/15/20		450		466,875
JPMorgan Chase Capital XXVII		7.000	%		11/01/39		2,165		2,254,218
Merrill Lynch & Co., Inc.		7.750	%		05/14/38		765		819,361
National Rural Utilities Cooperative Finance Corp.		1.900	%		11/01/15		500		484,292
									13,316,573
Packaged Foods & Meats–1.3%
Grupo Bimbo SAB de CV (Mexico)(a)		4.875	%		06/30/20		505		509,747
Kraft Foods, Inc.		6.875	%		02/01/38		1,255		1,457,018
Kraft Foods, Inc.		6.875	%		01/26/39		850		992,790
									2,959,555
Paper Products–1.1%
International Paper Co.		7.500	%		08/15/21		715		843,596
International Paper Co.		7.950	%		06/15/18		1,000		1,190,317
International Paper Co.		9.375	%		05/15/19		375		482,465
									2,516,378
Pharmaceuticals–0.1%
Wyeth		6.450	%		02/01/24		120		141,410
Property & Casualty Insurance–0.9%
CNA Financial Corp.		7.350	%		11/15/19		1,100		1,207,639
WR Berkley Corp.		5.375	%		09/15/20		90		88,784
XL Group PLC (Ireland)		5.250	%		09/15/14		710		737,777
									2,034,200
Publishing–0.1%
Gannett Co., Inc.		9.375	%		11/15/17		110		122,650
Railroads–1.0%
Canadian Pacific Railway Co. (Canada)		4.450	%		03/15/23		225		217,619
CSX Corp.		5.500	%		04/15/41		1,250		1,228,524
CSX Corp.		6.150	%		05/01/37		770		820,359
									2,266,502
Regional Banks–1.5%
CIT Group, Inc.		7.000	%		05/01/17		210		211,050
Nationwide Building Society (United Kingdom)(a)		6.250	%		02/25/20		1,030		1,081,380
Regions Financial Corp.		5.750	%		06/15/15		2,080		2,054,000
									3,346,430

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

12        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Reinsurance–0.3%
Reinsurance Group of America, Inc.		6.450	%		11/15/19	$	625	$	663,297
Research & Consulting Services–0.5%
Novant Health, Inc.		5.850	%		11/01/19		1,000		1,060,377
Restaurants–0.4%
Yum! Brands, Inc.		6.875	%		11/15/37		780		894,551
Retail REIT’s–0.5%
WEA Finance LLC(a)		6.750	%		09/02/19		1,050		1,168,814
Soft Drinks–0.3%
Coca-Cola Enterprises, Inc.		1.125	%		11/12/13		750		743,038
Specialized Finance–0.8%
Moody’s Corp.		5.500	%		09/01/20		1,120		1,107,058
NASDAQ OMX Group, Inc.		5.550	%		01/15/20		730		734,416
									1,841,474
Specialized REIT’s–1.2%
Entertainment Properties Trust(a)		7.750	%		07/15/20		1,250		1,326,417
Health Care REIT, Inc.		4.950	%		01/15/21		1,000		966,275
Plum Creek Timberlands, LP		4.700	%		03/15/21		510		486,240
									2,778,932
Specialty Chemicals–0.0%
PolyOne Corp.		7.375	%		09/15/20		45		46,800
Steel–1.7%
ArcelorMittal (Luxembourg)		3.750	%		08/05/15		970		978,324
ArcelorMittal (Luxembourg)		7.000	%		10/15/39		625		647,492
ArcelorMittal (Luxembourg)		9.850	%		06/01/19		770		976,486
Vale Overseas Ltd. (Cayman Islands)		5.625	%		09/15/19		545		583,224
Vale Overseas Ltd. (Cayman Islands)		6.875	%		11/10/39		580		632,709
									3,818,235
Systems Software–0.3%
Allen Systems Group, Inc.(a)		10.500	%		11/15/16		120		123,000
Symantec Corp.		4.200	%		09/15/20		535		494,447
									617,447
Technology Distributors–0.5%
Avnet, Inc.		5.875	%		06/15/20		1,200		1,205,997
Textiles–0.1%
Levi Strauss & Co.		7.625	%		05/15/20		260		269,750
Tobacco–0.9%
Altria Group, Inc.		4.125	%		09/11/15		1,000		1,047,502
Altria Group, Inc.		9.700	%		11/10/18		340		448,497
Altria Group, Inc.		10.200	%		02/06/39		410		590,922
									2,086,921

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

13        Invesco Van Kampen Bond Fund

						Par
						Amount
	Coupon			Maturity		(000)		Value
Trucking–0.0%
Avis Budget Car Rental LLC(a)		8.250	%		01/15/19	$	30	$	30,375
Hertz Corp.(a)		7.375	%		01/15/21		35		35,875
									66,250
Wireless Telecommunication Services–1.1%
American Tower Corp.		4.500	%		01/15/18		515		510,011
Cricket Communications, Inc.(a)		7.750	%		10/15/20		95		91,200
Crown Castle Towers LLC(a)		4.883	%		08/15/20		1,215		1,169,437
MetroPCS Wireless, Inc.		7.875	%		09/01/18		20		20,713
SBA Telecommunications, Inc.		8.250	%		08/15/19		250		273,750
Sprint Capital Corp.		6.900	%		05/01/19		205		204,744
Wind Acquisition Finance SA (Luxembourg)(a)		11.750	%		07/15/17		150		168,750
									2,438,605
Total Corporate Bonds–91.6%									207,448,592
Municipal Bonds–2.8%
California–0.3%
Alameda County CA Joint Powers		7.046	%		12/01/44		530		526,301
California State Taxable Various Purpose 3		5.950	%		04/01/16		230		243,657
									769,958
Georgia–0.4%
Municipal Electric Authority of GA		6.637	%		04/01/57		1,000		985,290
Kentucky–0.4%
Kentucky Asset / Liability Commission Funding Notes		3.165	%		04/01/18		870		850,303
New Jersey–0.5%
New Jersey State Transportation Trust Fund Authority		5.754	%		12/15/28		1,040		1,019,907
New York–0.2%
New York, NY City Transitional Finance Authority		5.572	%		11/01/38		525		521,430
Ohio–0.5%
American Municipal Power OH Inc., Ser B		8.084	%		02/15/50		1,100		1,187,659
Texas–0.5%
Texas State Transportation Commission Taxable-First Tier, Ser B		5.178	%		04/01/30		1,075		1,077,258
Total Municipal Bonds–2.8%									6,411,805
Collateralized Mortgage Obligations–2.2%
Bear Stearns Commercial Mortgage Securities(b)		5.471	%		01/12/45		700		748,154
Commercial Mortgage Pass Through Certificates(a)(b)		0.350	%		06/15/22		953		929,426
GS Mortgage Securities Corp. II(a)(b)		5.635	%		08/10/43		1,000		999,479
LB-UBS Commercial Mortgage Trust		5.372	%		09/15/39		760		814,183
PNC Mortgage Acceptance Corp.		6.360	%		03/12/34		751		751,207
TIAA Seasoned Commercial Mortgage Trust(b)		5.768	%		08/15/39		635		668,042
Total Collateralized Mortgage Obligations–2.2%									4,910,491
Total Long-Term Investments–96.6% (Cost $208,224,951)									218,770,888

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

14        Invesco Van Kampen Bond Fund

	Shares		Value
Money Market Funds–2.4%
Liquid Assets Portfolio–Institutional Class(c)	$	2,653,611	$	2,653,611
Premier Portfolio–Institutional Class(c)		2,653,611		2,653,611
Total Money Market Funds–2.4% (Cost $5,307,222)				5,307,222
United States Government Agency Obligations–0.1%
United States Treasury Bills ($225,000 par, yielding 6.007%, 04/28/11 Maturity) (Cost $224,876)(d)				224,912
TOTAL INVESTMENTS–99.1% (Cost $213,757,049)				224,303,022
OTHER ASSETS IN EXCESS OF LIABILITIES–0.9%				2,108,868
NET ASSETS–100.0%			$	226,411,890

Percentages are calculated as a percentage of net assets.

Investment Abbreviation:

REIT – Real Estate Investment Trust

Notes to Schedule of Investments:

(a)	144A-Private Placement security which is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers.
(b)	Interest or dividend rate is determined periodically. Rate shown is the rate in effect on December 31, 2010.
(c)	The money market fund and the Fund are affiliated by having the same investment adviser.
(d)	All or a portion of this security has been physically segregated in connection with open futures contracts.

Futures Contracts Outstanding as of December 31, 2010:
	Number		Unrealized
	of		Appreciation
	Contracts		(Depreciation)
Long Contracts:
U.S. Treasury Bonds 30-Year Futures, March 2011 (Current Notional Value of $122,125 per contract)		11	$	(39,726	)
U.S. Treasury Bonds Ultra Long Futures, March 2011 (Current Notional Value of $127,094 per contract)		17		(31,247	)
U.S. Treasury Notes 5-Year Futures, March 2011 (Current Notional Value of $117,719 per contract)		497		(897,975	)
Total Long Contracts		525		(968,948	)
Short Contracts:
U.S. Treasury Notes 10-Year Futures, March 2011 (Current Notional Value of $120,438 per contract)		351		1,063,724
Total Futures Contracts		876	$	94,776

Portfolio Composition

By security type, based on net assets

as of December 31, 2010

Corporate Bonds	91.6	%
United States Government Agency Obligations	0.1
Municipal Bonds	2.8
Collateralized Mortgage Obligations	2.2
Money Market Funds Plus Other Assets Less Liabilities	3.3

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

15        Invesco Van Kampen Bond Fund

Statement of Assets and Liabilities

December 31, 2010

(Unaudited)

Assets:
Investments, at value (Cost $208,449,827)	$	218,995,800
Investments in affiliated money market funds, at value and cost		5,307,222
Receivables:
Interest		2,904,153
Variation margin		38,391
Dividends		453
Other assets		1,052
Total assets		227,247,071
Liabilities:
Payables:
Investments purchased		621,681
Affiliates		37,755
Income distributions		34,393
Custodian bank		10,941
Accrued expenses		130,411
Total liabilities		835,181
Net assets	$	226,411,890
Net asset value ($226,411,890 divided by 11,335,939 shares outstanding)	$	19.97
Net assets consist of:
Shares of beneficial interest ($1.00 par value with 15,000,000 shares authorized, 11,335,939 shares issued and outstanding)	$	218,509,250
Net unrealized appreciation		10,640,749
Accumulated undistributed net investment income (loss)		(692,668	)
Accumulated net realized gain (loss)		(2,045,441	)
Net assets	$	226,411,890

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

16        Invesco Van Kampen Bond Fund

Statement of Operations

For the six months ended December 31, 2010

(Unaudited)

Investment income:
Interest	$	5,803,137
Dividends from affiliated money market funds		11,399
Total income		5,814,536
Expenses:
Investment advisory fee		484,369
Professional fees		43,209
Custody		30,471
Transfer agent fees		28,982
Administrative services fees		26,525
Trustees’ and officers’ fees and benefits		9,178
Other		20,193
Total expenses		642,927
Fees waived		9,499
Net expenses		633,428
Net investment income		5,181,108
Realized and unrealized gain (loss):
Realized gain (loss):
Investments		7,945,345
Futures contracts		(641,628	)
Net realized gain		7,303,717
Unrealized appreciation (depreciation):
Beginning of the period		14,816,514
End of the period:
Investments		10,545,973
Futures contracts		94,776
		10,640,749
Net unrealized appreciation (depreciation) during the period		(4,175,765	)
Net realized and unrealized gain		3,127,952
Net increase in net assets from operations	$	8,309,060

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

17        Invesco Van Kampen Bond Fund

Statements of Changes in Net Assets

(Unaudited)

	For the six months ended			For the year ended
	December 31,			June 30,
	2010			2010
From operations:
Net investment income	$	5,181,108		$	11,786,074
Net realized gain		7,303,717			5,512,962
Net unrealized appreciation (depreciation) during the period		(4,175,765	)		14,668,622
Change in net assets from operations		8,309,060			31,967,658
Distributions from net investment income		(5,610,513	)		(11,609,494	)
Net change in net assets from operations		2,698,547			20,358,164
From capital transactions:
Value of common shares issued through dividend reinvestment		107,791			261,395
Total increase in net assets		2,806,338			20,619,559
Net assets:
Beginning of the period		223,605,552			202,985,993
End of the period (including accumulated undistributed net investment income (loss) of $(692,668) and $(263,263), respectively)	$	226,411,890		$	223,605,552

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

18        Invesco Van Kampen Bond Fund

Financial Highlights

(Unaudited)

The following schedule presents financial highlights for one share of the Fund outstanding throughout the periods indicated.

	Six months ended
	December 31,			Year ended June 30,
	2010			2010			2009			2008			2007			2006
Net asset value, beginning of the period	$	19.73		$	17.94		$	18.33		$	18.70		$	18.59		$	19.69
Net investment income(a)		0.46			1.04			0.95			0.92			0.90			0.89
Net realized and unrealized gain (loss)		0.28			1.78			(0.22	)		(0.37	)		0.15			(1.03	)
Total from investment operations		0.74			2.82			0.73			0.55			1.05			(0.14	)
Less distributions from net investment income		0.50			1.03			1.12			0.92			0.94			0.96
Net asset value, end of the period	$	19.97		$	19.73		$	17.94		$	18.33		$	18.70		$	18.59
Common share market price at end of the period	$	18.64		$	19.65		$	17.12		$	16.62		$	16.84		$	16.40
Total return at net asset value(b)		3.76	%
Total return at market value(c)		(2.75	)%		21.02	%		10.29	%		4.17	%		8.38	%		(2.59	)%
Net assets at end of the period (in millions)	$	226.4		$	223.6		$	203.0		$	207.3		$	211.4		$	211.2
Ratio of expenses to average net assets		0.55	%(d)		0.59	%		0.58	%		0.61	%		0.57	%		0.59	%
Ratio of net investment income to average net assets		4.49	%(d)		5.40	%		5.54	%		4.82	%		4.72	%		4.61	%
Portfolio turnover(e)		60	%		77	%		59	%		111	%		188	%		64	%

(a)	Based on average shares outstanding.
(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable.
(c)	Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Fund’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable.
(d)	Ratios are based on average net assets (000’s omitted) of $228,786.
(e)	Portfolio turnover is not annualized for periods less than one year, if applicable.

Notes to Financial Statements

December 31, 2010

(Unaudited)

NOTE 1—Significant Accounting Policies

Invesco Van Kampen Bond Fund (the “Fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company.

  The Fund’s investment objective is to seek interest income while conserving capital.

  The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

A.	Security Valuations — Securities, including restricted securities, are valued according to the following policy.
	Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations, including commercial paper, having 60 days or less to maturity are recorded at amortized cost which approximates value. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and/or principal payments.
	A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued by an independent pricing service they may be considered fair valued. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange (“NYSE”).

19        Invesco Van Kampen Bond Fund

	Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded.
	Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economical upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.
	Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The last bid price may be used to value equity securities. The mean between the last bid and asked prices is used to value debt obligations, including Corporate Loans.
	Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value.
	Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. 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 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. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes.
	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.
	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 net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund’s net asset value and, accordingly, they reduce the 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 Fund and the investment adviser.
C.	Country Determination — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser 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 — The Fund declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally paid annually and are distributed on a pro rata basis to common and preferred shareholders. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.
E.	Federal Income Taxes — The Fund intends 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 Fund’s taxable earnings to shareholders. As such, the Fund 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.
F.	Accounting Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) 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.

20        Invesco Van Kampen Bond Fund

G.	Indemnifications — Under the Fund’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 Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund’s servicing agreements that contain a variety of indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.
H.	Futures Contracts — The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between two parties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying financial instrument. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund’s basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures contracts. Futures contracts have minimal counterparty risk since the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.
I.	Collateral — To the extent the Fund has pledged or segregated a security as collateral and that security is subsequently sold, it is the Fund’s practice to replace such collateral no later than the next business day.

NOTE 2—Advisory Fees and Other Fees Paid to Affiliates

The Fund has entered into a master investment advisory agreement with Invesco Advisers, Inc. (the “Adviser” or “Invesco”). Under the terms of the investment advisory agreement, the Fund pays an advisory fee to the Adviser based on the annual rate of the Fund’s average daily net assets as follows:

Average Net Assets	Rate
First $500 million		0	.42%
Over $500 million		0	.35%

  Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Australia Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Trimark Ltd. (collectively, the “Affiliated Sub-Advisers”) the Adviser, not the Fund, may pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

  The Adviser has contractually agreed, through at least June 30, 2012, to waive advisory fees and/or reimburse expenses to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) to 0.58%. In determining the Adviser’s obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the Fund’s operating expenses after fee waiver and/or expense reimbursement to exceed the limit reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items; and (5) expenses that the Trust has incurred but did not actually pay because of an expense offset arrangement. Unless the Board of Trustees and Invesco mutually agree to amend or continue the fee waiver agreement, it will terminate on June 30, 2012. The Adviser did not waive fees and/or reimburse expenses during the period under this expense limitation.

  Further, the Adviser has contractually agreed, through at least June 30, 2011, to waive the advisory fee payable by the Fund in an amount equal to 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash in such affiliated money market funds. For the six months ended, the Adviser waived advisory fee of $9,499.

  The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the six months ended December 31, 2010, expenses incurred under the agreement are shown in the Statement of Operations as administrative services fees.

  Also, Invesco has entered into service agreements whereby State Street Bank and Trust Company (“SSB”) serves as the custodian, fund accountant and provides certain administrative services to the Fund.

  Certain officers and trustees of the Fund are officers and directors of Invesco, IIS and/or IDI.

NOTE 3—Additional Valuation Information

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

21        Invesco Van Kampen Bond Fund

(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, yield curves, loss severities, default rates, discount rates, volatilities 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 December 31, 2010. 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.

  During the six months ended December 31, 2010, there were no significant transfers between investment levels.

	Level 1			Level 2		Level 3		Total
Investment in an Asset Position
Corporate Bonds	$	—		$	207,448,592	$	—	$	207,448,592
Collateralized Mortgage Obligations		—			4,910,491		—		4,910,491
Municipal Bonds		—			6,411,805		—		6,411,805
United States Government Agency Obligations		—			224,912		—		224,912
Money Market Funds		5,307,222			—		—		5,307,222
Futures Contracts		1,063,724			—		—		1,063,724
Total Investments in an Asset Position	$	6,370,946		$	218,995,800	$	—	$	225,366,746
Investments in a Liability Position
Futures Contracts	$	(968,948	)	$	—	$	—	$	(968,948	)

NOTE 4—Derivative Investments

The Fund has implemented the required disclosures about derivative instruments and hedging activities in accordance with GAAP. This disclosure is intended to improve financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity’s financial position and financial performance. The enhanced disclosure has no impact on the results of operations reported in the financial statements.

Value of Derivative Instruments at Period-End

The Table below summarizes the value of the Fund’s derivative instruments, detailed by primary risk exposure, held as of December 31, 2010:

	Value
Risk Exposure/ Derivative Type	Assets		Liabilities
Interest rate risk
Futures contracts(a)	$	1,063,724	$	(968,948	)

^(a) Includes cumulative appreciation (depreciation) of futures contracts. Only current day’s variation margin receivable (payable) is reported within the Statement of Assets & Liabilities.

Effect of Derivative Instruments for the six months ended December 31, 2010

The table below summarizes the gains (losses) on derivative instruments, detailed by primary risk exposure, recognized in earnings during the period:

	Location of Gain (Loss) on
	Statement of Operations
	Futures Contracts*
Realized Gain (Loss)
Interest rate risk	$	(641,628	)
Change in Unrealized Appreciation (Depreciation)
Interest rate risk		469,679
Total	$	(171,949	)

*  The average value of futures contracts outstanding during the period was $13,750,000.

22        Invesco Van Kampen Bond Fund

NOTE 5—Trustees’ and Officers’ Fees and Benefits

“Trustees’ and Officers’ Fees and Benefits” include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund.

  For the six months ended December 31, 2010, the Fund paid legal fees of $4,330 for services rendered by Skadden, Arps, Slate, Meagher & Flom LLP as counsel to the Independent Trustees. A member of that firm is a Trustee of the Fund.

NOTE 6—Cash Balances

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

NOTE 7—Tax Information

The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. Reclassifications are made to the Fund’s capital accounts to reflect income and gains available for distribution (or available capital loss carryforward) under income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Fund’s fiscal year-end.

  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 Fund 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 Fund had a capital loss carryforward as of June 30, 2010 which expires as follows:

	Capital Loss
Expiration	Carryforward*
June 30, 2017	$	9,703,123

*  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—Investment Securities

The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the six months ended December 31, 2010 was $142,481,166 and $127,707,280, respectively. The cost of purchases and proceeds from sales of long-term U.S. Government securities, including paydowns on mortgage-backed securities for the period were $0 and $855,004, respectively. Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed Federal income tax reporting period-end.

Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis
Aggregate unrealized appreciation of investment securities	$	11,705,611
Aggregate unrealized (depreciation) of investment securities		(1,484,603	)
Net unrealized appreciation of investment securities	$	10,221,008
Cost of investments for tax purposes is $214,082,014.

NOTE 9—Shares of beneficial Interest

Transactions in shares of beneficial interest were as follows:

	Six months ended		Year ended
	December 31, 2010		June 30, 2010
Beginning shares		11,330,647		11,317,176
Shares issued through dividend reinvestment		5,292		13,471
Ending shares		11,335,939		11,330,647

NOTE 10—Dividends

The Fund declared the following dividends from net investment income subsequent to December 31, 2010:

Declaration Date	Amount Per Share		Record Date		Payable Date
January 3, 2011	$	0.08		January 14, 2011		January 31, 2011
February 1, 2011		0.08		February 15, 2011		February 28, 2011

23        Invesco Van Kampen Bond Fund

Proxy Results

An Annual Meeting (“Meeting”) of Shareholders of Invesco Van Kampen Bond Fund was held on Friday, July 16, 2010. The Meeting was held for the following purpose:

(1)  Elect four Class III Trustees, each by the holders of Common Shares, each of whom will serve for a three year term or until a successor has been duly elected and qualified.

The results of the voting on the above matters were as follows:

				Votes
	Matter	Votes For		Withheld
(1)	R. Craig Kennedy		10,453,197		58,431
	Jack E. Nelson		10,337,316		174,312
	Colin D. Meadows		10,457,898		53,730
	Hugo F. Sonnenschein		10,410,444		101,184

24        Invesco Van Kampen Bond Fund

Invesco privacy policy

You share personal and financial information with us that is necessary for your transactions and your account records. We take very seriously the obligation to keep that information confidential and private.

     Invesco collects nonpublic personal information about you from account applications or other forms you complete and from your transactions with us or our affiliates. We do not disclose information about you or our former customers to service providers or other third parties except to the extent necessary to service your account and in other limited circumstances as permitted by law. For example, we use this information to facilitate the delivery of transaction confirmations, financial reports, prospectuses and tax forms.

     Even within Invesco, only people involved in the servicing of your accounts and compliance monitoring have access to your information. To ensure the highest level of confidentiality and security, Invesco maintains physical, electronic and procedural safeguards that meet or exceed federal standards. Special measures, such as data encryption and authentication, apply to your communications with us on our website. More detail is available to you at invesco.com/privacy.

Fund holdings and proxy voting information

The Fund provides a complete list of its holdings four times in each fiscal year, at the quarter-ends. For the second and fourth quarters, the lists appear 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. Shareholders can also look up the Fund’s Forms N-Q on the SEC website at sec.gov. Copies of 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 202 551 8090 or 800 732 0330, or by electronic request at the following email address: publicinfo@sec.gov. The SEC file number for the Fund is 811-02090.

     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 800 341 2929 or at invesco.com/proxyguidelines. 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, 2010, is available at invesco.com/proxysearch. In addition, this information is available on the SEC website at sec.gov.

     Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.’s retail mutual funds, exchange-traded funds and institutional money market funds. Both are wholly owned, indirect subsidiaries of Invesco Ltd.

VK-CE-BOND-SAR-1      Invesco 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”). The Code was amended in June, 2010, to (i) add an individual to Exhibit A and (ii) update the names of certain legal entities. 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.

          Not applicable.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

          Not applicable.

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 INVESTMENT 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 December 14, 2010, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (“PEO”) and Principal Financial Officer (“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 December 14, 2010,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 the report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12. EXHIBITS.

12(a)(1)	Not applicable.
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: Invesco Van Kampen Bond Fund

By:	/s/ Colin D. Meadows
	Colin D. Meadows
	Principal Executive Officer

Date: March 11, 2011

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/ Colin D. Meadows
	Colin D. Meadows
	Principal Executive Officer

Date: March 11, 2011

By:	/s/ Sheri Morris
	Sheri Morris
	Principal Financial Officer

Date: March 11, 2011

EXHIBIT INDEX

12(a) (1)	Not applicable.
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.