Invesco High Income Trust II (VLT) DEF 14A Definitive proxy

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities

Exchange Act of 1934 (Amendment No.      )

Filed by the Co-Registrants x

Filed by a Party other than the Registrant o

Check the appropriate box:

o Preliminary Proxy Statement	o Confidential, for Use of the Commission Only (as permitted byRule 14a-6(e)(2))
x Definitive Proxy Statement o Definitive Revised Materials o Soliciting Material Pursuant to Section 140.14a-12

INVESCO VAN KAMPEN MUNICIPAL TRUST
INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
INVESCO VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
INVESCO VAN KAMPEN SENIOR INCOME TRUST
INVESCO VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
INVESCO VAN KAMPEN BOND FUND
INVESCO VAN KAMPEN HIGH INCOME TRUST II

(Names of Co-Registrants as Specified in Their Charters)

Payment of Filing Fee (Check the appropriate box):

x No fee required.

o Fee computed per Exchange Act Rules 14a-6(i)(1) and 0-11.

o Fee paid previously with preliminary materials.

 INVESCO LTD. JUNE 2010 

 Important Notice To Invesco Van Kampen
 Closed-End Fund Shareholders

Questions& Answers

Although we recommend that you read the complete Joint Proxy Statement, we have provided for your convenience a brief overview of the issues to be voted on.

Q. Why is a shareholder meeting being held?

A.Each Invesco Van Kampen closed-end fund is traded on a nationally recognized stock exchange and is required to hold an annual meeting of shareholders.

Q. What proposal will be voted on?

A.You are being asked to elect nominees for the Board of Trustees.

Q. Will my vote make a difference?

A.Yes, your vote is important and will make a difference no matter how many shares you own. We encourage all shareholders to participate in the governance of their funds.

Q. How does the Board of Trustees recommend that I vote?

A.The Board recommends that you vote “FOR ALL” of the nominees on the enclosed proxy card.

Q. How do I vote my proxy?

A.You may cast your vote by mail, phone or internet. To vote by mail, please mark your vote on the enclosed proxy card and sign, date and return the card in the postage-paid envelope provided. If you choose to vote via phone or internet, please refer to the instructions found on the proxy card accompanying this Joint Proxy Statement. To vote by phone or internet, you will need the “control number” that appears on the proxy card.

Q. Why does the Joint Proxy Statement list severalclosed-end funds?

A.The funds have a similar proposal and it is cost effective to have a joint proxy statement and one meeting.

Q. Where do I call for more information?

A.Please contact us at Invesco Investment Services, Inc.’s 24-hour Automated Investor Line at1-800-341-2929 Option 1 or on the Internet at www.invesco.com.

 About the Proxy Card

Please vote on each issue using blue or black ink to mark an X in one of the boxes provided on the proxy card.

Election of Trustees — mark “FOR ALL,” “WITHHOLD” or “FOR ALL EXCEPT.”

To withhold authority to vote for any one or more individual nominee(s), check “FOR ALL EXCEPT” and write the nominee’s name in the line below.

Sign, date and return the proxy card in the enclosed postage-paid envelope. All registered owners of an account, as shown in the address, must sign the card. When signing as attorney, trustee, executor, administrator, custodian, guardian or corporate officer, please indicate your full title.

x
PLEASE MARK
VOTES AS IN
THIS EXAMPLE PROXY

INVESCO VAN KAMPEN XXXXX

JOINT ANNUAL MEETING OF SHAREHOLDERS

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

XXXXXXXXXXXXXXXXX

				FOR
		FOR		ALL
		ALL	WITHHOLD	EXCEPT
1x.	Authority to vote for the election as Class X Trustees the nominees named below:	o	o	o	2.	To transact such other business as may properly come before the Meeting.
XXXXXXXXX, XXXXXXXXX, XXXXXXXXX
	To withhold authority to vote for any one or more individual nominee check “For All Except” and write the nominee’s name on the line below.
Please be sure to sign and date this Proxy, Date
Shareholder sign here    Co-owner sign here
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

SAMPLE

INVESCO VAN KAMPEN CLOSED-END FUNDS

1555 Peachtree Street, N.E.
Atlanta, GA 30309

NOTICE OF JOINT ANNUAL MEETING OF
SHAREHOLDERS

To Be Held July 16, 2010

Notice is hereby given to the holders of common shares of beneficial interest (“Common Shares”) and, where applicable, the holders of preferred shares of beneficial interest (the “Preferred Shares”) of each of the Invesco Van Kampen Closed-End Funds listed on Annex A (the “Funds”) to the attached Joint Proxy Statement that the Joint Annual Meeting of Shareholders of the Funds (the “Meeting”) will be held at 11 Greenway Plaza, Suite 2500, Houston, TX77046-1173, on July 16, 2010 at 3:00 p.m., for the following purposes:

1.  To elect trustees in the following manner:

(a)	With respect to VKI, VCV, VPV and VMV, to elect three Class II Trustees, two by the holders of Common Shares of each such Fund and one by the holders of the Preferred Shares of each such Fund. The elected Class II Trustees will each serve for a three year term or until a successor shall have been duly elected and qualified.
(b)	With respect to VGM, VTJ, VIM, VTN, VOQ, VKQ, VMO and VVR, to elect four Class III Trustees, three by the holders of Common Shares of each such Fund and one by holders of the Preferred Shares of such Fund. The elected Class III Trustees will each serve for a three year term or until a successor shall have been duly elected and qualified.
(c)	With respect to VTA, VLT and VBF, to elect four Class III Trustees, each by the holders of Common Shares of each such Fund. The elected Class III Trustees will each serve for a three year term or until a successor shall have been duly elected and qualified.
(d)	With respect to VKL, to elect four Class I Trustees, each by the holders of the Common Shares of such Fund. The elected Class I Trustees will each serve for a three year term or until a successor shall have been duly elected and qualified.

2.  To transact such other business as may properly come before the Meeting or any adjournments thereof.

Please see Annex A for a listing of each Fund’s ticker symbols referenced above. Holders of record of the Common Shares and, where applicable, Preferred Shares of each Fund at the close of business on May 28, 2010 are entitled to notice of and to vote at the Meeting and any adjournment thereof.

By order of the Board of Trustees

John M. Zerr,

Senior Vice President, Secretary and
Chief Legal Officer

June 11, 2010

Each Fund will furnish, without charge, a copy of its most recent annual report (and the most recent semiannual report succeeding the annual report, if any) to any shareholder upon request. Any such request should be directed to the respective Fund by calling 1-800-341-2929 Option 2 or by writing to the respective Fund at 11 Greenway Plaza, Houston, TX77046-1173.

Shareholders of the Funds are invited to attend the Meeting in person. If you do not expect to attend the Meeting, please indicate your voting instructions on the enclosed proxy card with respect to each Fund in which you were a shareholder as of the record date, date and sign such proxy card(s), and return it (them) in the envelope provided, which is addressed for your convenience and needs no postage if mailed in the United States, or record your voting instructions by telephone or via the internet.

In order to avoid the additional expense of further solicitation, we ask that you mail your proxy cards(s) or record your voting instructions by telephone or via the internet promptly.

The Board of Trustees of each Fund recommends that you cast your vote:

•  FOR ALL of the nominees for the Board of Trustees listed in the Joint Proxy Statement.

Your vote is important.
Please return your proxy card(s)
or record your voting instructions by
telephone or via the internet promptly
no matter how many shares you own.

JOINT PROXY STATEMENT

INVESCO VAN KAMPEN CLOSED-END FUNDS

1555 Peachtree Street, N.E.
Atlanta, GA 30309

JOINT ANNUAL MEETING OF SHAREHOLDERS

July 16, 2010

INTRODUCTION

This Joint Proxy Statement is furnished in connection with the solicitation by the respective Board of Trustees (the “Trustees” or the “Board”) of each of the Invesco Van Kampen Closed-End Funds listed on Annex A to this Joint Proxy Statement (the “Funds”) of proxies to be voted at a Joint Annual Meeting of Shareholders of the Funds, and all adjournments thereof (the “Meeting”), to be held at 11 Greenway Plaza, Suite 2500, Houston, TX77046-1173, on July 16, 2010, at 3:00 p.m. The Meeting will be an annual meeting for each Fund. The approximate mailing date of this Joint Proxy Statement and accompanying form of proxy is June 16, 2010.

Participating in the Meeting are holders of common shares of beneficial interest (the “Common Shares”) and, where applicable, the holders of preferred shares of beneficial interest (the “Preferred Shares”) of each of the Funds as set forth in Annex A to this Joint Proxy Statement. The Common Shares and the Preferred Shares of the Funds sometimes are referred to herein collectively as the “Shares.” The Meeting is scheduled as a joint meeting of the shareholders of the Funds because the shareholders of the Funds are expected to consider and vote on similar matters. The Board has determined that the use of a joint proxy statement for the Meeting is in the best interest of the shareholders of each of the Funds. In the event that a shareholder of any Fund present at the Meeting objects to the holding of a joint meeting and moves for an adjournment of the meeting of such Fund to a time immediately after the Meeting so that such Fund’s meeting may be held separately, the persons named as proxies will vote in favor of the adjournment.

Annex A lists the abbreviated name and stock symbol by which the Funds sometimes are referred to in this Joint Proxy Statement. Please refer to Annex A for any questions you may have regarding whether your Fund is participating at the Meeting, defined terms relating to the Funds and abbreviated Fund names.

The Board has fixed the close of business on May 28, 2010 as the record date (the “Record Date”) for the determination of holders of Shares of each Fund entitled to vote at the Meeting. The number of issued and outstanding Common Shares and Preferred

Shares of each Fund as of the Record Date is shown in Annex B to this Joint Proxy Statement.

The following table summarizes the proposals to be presented at the Meeting and the shareholders entitled to vote with respect to the proposals.

Proposal/Affected Funds		Affected Shareholders
1.	Election of Trustees:
(a)	With respect to VKI, VCV, VPV and VMV, to elect
	— two Class II Trustees, each by holders of Common Shares of each such Fund	Common
	— one Class II Trustee by holders of Preferred Shares of each such Fund	Preferred
(b)	With respect to VGM, VTJ, VIM, VTN, VOQ VKQ, VMO and VVR, to elect
	— three Class III Trustees, each by holders of Common Shares of each such Fund	Common
	— one Class III Trustee by holders of Preferred Shares of such Fund	Preferred
(c)	With respect to VTA, VLT and VBF, to elect
	— four Class III Trustees, each by holders of Common Shares of each such Fund	Common
(d)	With respect to VKL, to elect
	— four Class I Trustees, each by holders of Common Shares of such Fund	Common

Each Fund will furnish, without charge, a copy of its most recent annual report (and the most recent semiannual report succeeding the annual report, if any) to any shareholder upon request. Any such request should be directed to the respective Fund by calling 1-800-341-2929 Option 2 or by writing to the respective Fund at 11 Greenway Plaza, Houston,TX 77046-1173.

Voting

Shareholders of a Fund on the Record Date are entitled to one vote per Share with respect to any proposal submitted to the shareholders of the Fund, with no Share having cumulative voting rights. The voting requirement for passage of a particular proposal depends on the nature of the proposal.

With respect to Proposal 1(a) through (d), holders of Common Shares and Preferred Shares, where applicable, will vote as separate classes for the respective nominee(s) to be elected by such class of Shares. The affirmative vote of a plurality of the Common Shares of a Fund present at the Meeting in person or by proxy is required to elect each nominee for Trustee of such Fund designated to be elected by the holders of the Common Shares of such Fund. The affirmative vote of a plurality of the Preferred Shares of a Fund present at the Meeting in person or by proxy is required to elect such nominee for Trustee of such Fund designated to be elected by the holders of the

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Preferred Shares of such Fund. Election by plurality means those persons who receive the highest number of votes cast “FOR” up to the total number of persons to be elected as Trustees at the Meeting shall be elected.

The Board of Trustees of each Fund recommends that you cast your voteFOR ALL of the nominees for the Board of Trustees listed in the Joint Proxy Statement.

An unfavorable vote on a proposal by the shareholders of one Fund will not affect the implementation of such proposal by another Fund if the proposal is approved by the shareholders of the other Fund. An unfavorable vote on a proposal by the shareholders of a Fund will not affect such Fund’s implementation of other proposals that receive a favorable vote. There is no cumulative voting with respect to the election of Trustees.

All Shares represented by properly executed proxies received prior to the Meeting will be voted at the Meeting in accordance with the instructions marked thereon. Proxies received prior to the Meeting on which no vote is indicated will be voted “FOR” each proposal as to which they are entitled to be voted. Abstentions and broker non-votes (i.e., where a nominee, such as a broker, holding shares for beneficial owners responds but does not vote on a proposal because the nominee lacks beneficial owner direction or does not exercise discretionary authority) are not treated as votes “FOR” a proposal. With respect to Proposal 1(a) through (d), abstentions and brokernon-votes are disregarded since only votes “FOR” are considered in a plurality voting requirement. A majority of the outstanding Shares of a Fund entitled to vote must be present in person or by proxy to have a quorum for such Fund to conduct business at the Meeting. Abstentions and broker non-votes will be deemed present for quorum purposes.

Shareholders who execute proxies may revoke them at any time before they are voted by filing with the respective Fund a written notice of revocation, by delivering a duly executed proxy bearing a later date or by attending the Meeting and voting in person.

The Funds know of no business other than that mentioned in Proposal 1 of the Notice that will be presented for consideration at the Meeting. If any other matters are properly presented, it is the intention of the persons named on the enclosed proxy to vote proxies in accordance with their best judgment. In the event a quorum is present at the Meeting but sufficient votes to approve any of the proposals with respect to one or more Funds or proposals are not received, proxies (including abstentions and broker non-votes) would be voted in favor of one or more adjournments of the Meeting of the concerned Fund with respect to such proposal to permit further solicitation of proxies, provided they determine that such an adjournment and additional solicitation is reasonable and in the interest of shareholders based on a consideration of all relevant factors, including the nature of the relevant proposal, the percentage of votes then cast, the percentage of negative votes then cast, the nature of the proposed solicitation activities and the nature of the reasons for such further solicitation.

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Investment Adviser

The investment adviser for each Fund is Invesco Advisers, Inc. (the “Adviser”). The Adviser is a wholly owned subsidiary of Invesco Ltd. On April 16, 2010, shareholders of each of the Funds approved a new investment advisory agreement with the Adviser, which became effective on June 1, 2010, the closing date (the “Closing Date”) of the transaction between Morgan Stanley and Invesco Ltd., whereby Morgan Stanley sold substantially all of its retail asset management business, including Van Kampen Investments, Inc. to Invesco Ltd. The Adviser is located at 1555 Peachtree Street, N.E., Atlanta, GA 30309. The Adviser, as successor in interest to multiple investment advisers, has been an investment adviser since 1976.

VTA’s investment subadviser is Avenue Europe International Management, L.P. (the “VTA Subadviser”), a part of Avenue Capital Group, which is comprised of three registered investment advisers, including the VTA Subadviser. On April 16, 2010, shareholders of VTA approved a new investment subadvisory agreement with Avenue Europe International, L.P., which became effective on the Closing Date. The Adviser allocates a portion of VTA’s assets to be invested by the VTA Subadviser based upon market conditions and the attractiveness of available investment opportunities in European investments. The VTA Subadviser, located at 535 Madison Avenue, New York, NY 10022, has experience managing investment portfolios and private investment funds not registered under the 1940 Act.

Other Service Providers

Each Fund has entered into a master administrative services agreement with the Adviser. The principal business address of the Adviser is 1555 Peachtree Street, N.E., Atlanta, GA 30309. VVR has also entered into an additional administration agreement with the Adviser. Each Fund, except VVR and VKL, has entered into a support services agreement with Invesco Investment Services, Inc. The principal business address of Invesco Investment Services, Inc. is 11 Greenway Plaza, Suite 2500, Houston, TX77046-1173.

PROPOSAL 1: ELECTION OF TRUSTEES

Trustees are to be elected by the shareholders at the Meeting in the following manner:

(a) With respect to VKI, VCV, VPV and VMV, three Class II Trustees are to be elected at the Meeting, to serve until the later of each such Fund’s Annual Meeting of Shareholders in 2013 or until their successors have been duly elected and qualified. Previously, Linda Hutton Heagy had been designated to be elected by holders of Common Shares and Rod Dammeyer had been designated to be elected by holders of Preferred Shares; at the Meeting, each of the above referenced Funds has designated Linda Hutton Heagy to be elected by holders of Preferred Shares of such Funds and Rod Dammeyer to be elected by holders of Common Shares of such Funds, each to serve for a

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three year term or until a successor shall have been duly elected and qualified. Thus, holders of Common Shares, voting as a separate class, will vote with respect to two Class II Trustees (Rod Dammeyer and Wayne W. Whalen) designated to be elected by such class of shares. Holders of Preferred Shares, voting as a separate class, will vote with respect to one Class II Trustee (Linda Hutton Heagy) designated to be elected by such class of shares. An affirmative vote of a plurality of the Common Shares of each such Fund and a plurality of the Preferred Shares of each such Fund is required to elect the respective nominees. It is the intention of the persons named in the enclosed proxy to vote the Shares represented by them for the election of the respective nominees listed unless the proxy is marked otherwise.

(b) With respect to VGM, VTJ, VIM, VTN, VOQ, VKQ, VMO and VVR, four Class III Trustees are to be elected at the Meeting, to serve until the later of each such Fund’s Annual Meeting of Shareholders in 2013 or until a successor has been duly elected and qualified. Holders of Common Shares, voting as a separate class, will vote with respect to three Class III Trustees (R. Craig Kennedy, Jack E. Nelson and Colin D. Meadows) designated to be elected by such class of shares. Holders of Preferred Shares, voting as a separate class, will vote with respect to one Class III Trustee (Hugo F. Sonnenschein) designated to be elected by such class of shares. An affirmative vote of a plurality of the Common Shares of each such Fund and a plurality of the Preferred Shares of each such Fund is required to elect the respective nominees. It is the intention of the persons named in the enclosed proxy to vote the Shares represented by them for the election of the respective nominees listed unless the proxy is marked otherwise.

(c) With respect to VTA, VLT and VBF, four Class III Trustees are to be elected at the Meeting, to serve until the later of each such Fund’s Annual Meeting of Shareholders in 2013 or until their successors have been duly elected and qualified. Previously, Hugo F. Sonnenschein had been designated to be elected by holders of Preferred Shares of VLT; at the meeting, VLT has designated Hugo F. Sonnenschein to be elected by holders of Common Shares of VLT since there are currently no outstanding Preferred Shares of VLT to serve for a three year term or until a successor shall have been duly elected and qualified. Thus, holders of Common Shares, voting as a separate class, will vote with respect to four Class III Trustees (R. Craig Kennedy, Jack E. Nelson, Colin D. Meadows and Hugo F. Sonnenschein) designated to be elected by such class of shares. An affirmative vote of a plurality of the Common Shares of each such Fund is required to elect the respective nominees. It is the intention of the persons named in the enclosed proxy to vote the Shares represented by them for the election of the nominees listed unless the proxy is marked otherwise.

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(d) With respect to VKL, four Class I Trustees are to be elected at the Meeting, to serve until the later of such Fund’s Annual Meeting of Shareholders in 2013 or until a successor has been duly elected and qualified. Holders of Common Shares, voting as a separate class, will vote with respect to four Class I Trustees (David C. Arch, Jerry D. Choate, Howard J Kerr and Suzanne H. Woolsey) designated to be elected by such class of shares. An affirmative vote of a plurality of the Common Shares of such Fund is required to elect the respective nominees. It is the intention of the persons named in the enclosed proxy to vote the Shares represented by them for the election of the respective nominees listed unless the proxy is marked otherwise.

As in the past, only one class of Trustees is being submitted to shareholders of each Fund for election at the Meeting. The Declaration of Trust of each Fund provides that the Board of Trustees shall consist of Trustees divided into three classes, the classes to be as nearly equal in number as possible. For each Fund, the Trustees of only one class are elected at each annual meeting so that the regular term of only one class of Trustees will expire annually and any particular Trustee stands for election only once in eachthree-year period. This type of classification may prevent replacement of a majority of Trustees of a Fund for up to atwo-year period. The foregoing is subject to the provisions of the 1940 Act, applicable state law based on the state of organization of each Fund, each Fund’s Declaration of Trust and each Fund’s Bylaws.

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INFORMATION REGARDING TRUSTEES AND NOMINEES FOR ELECTION AS TRUSTEE

The business and affairs of the Funds are managed under the direction of the Board of Trustees. The tables below list the incumbent Trustees and nominees for Trustee, their principal occupations, other directorships held by them and their affiliations, if any, with the Adviser or its affiliates. The term “Fund Complex” includes each of the investment companies advised by the Adviser as of the Record Date. Trustees of the Funds generally serve three year terms or until their successors are duly elected and qualified. All nominees have consented to being named in this Joint Proxy Statement and have agreed to serve if elected.

Independent Trustees:

				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
David C. Arch1 (64) Blistex Inc. 1800 Swift Drive Oak Brook, IL 60523	Trustee	†	Chairman and Chief Executive Officer of Blistex Inc., a consumer health care products manufacturer.		35	Trustee/Managing General Partner of funds in the Fund Complex. Member of the Heartland Alliance Advisory Board, a nonprofit organization serving human needs based in Chicago. Board member of the Illinois Manufacturers’ Association. Member of the Board of Visitors, Institute for the Humanities, University of Michigan.

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				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
Jerry D. Choate1 (71) 33971 Selva Road Suite 130 Dana Point, CA 92629	Trustee	†	From 1995 to 1999, Chairman and Chief Executive Officer of the Allstate Corporation (“Allstate”) and Allstate Insurance Company. From 1994 to 1995, President and Chief Executive Officer of Allstate. Prior to 1994, various management positions at Allstate.		18	Trustee/Managing General Partner of funds in the Fund Complex. Director since 1998 and member of the governance and nominating committee, executive committee, compensation and management development committee and equity award committee, of Amgen Inc., a biotechnological company. Director since 1999 and member of the nominating and governance committee and compensation and executive committee, of Valero Energy Corporation, a crude oil refining and marketing company. Previously, from 2006 to 2007, Director and member of the compensation committee and audit committee, of H&R Block, a tax preparation services company.
Rod Dammeyer2,4 (69) CAC, LLC 4350 LaJolla Village Drive Suite 320 San Diego, CA 92122-1243	Trustee	†	President of CAC, LLC, a private company offering capital investment and management advisory services. Prior to 2001, Managing Partner at Equity Group Corporate Investments. Prior to 1995, Chief Executive Officer of Itel Corporation. Prior to 1985, experience includes Senior Vice President and Chief Financial Officer of Household International, Inc, Executive Vice President and Chief Financial Officer of Northwest Industries, Inc. and Partner of Arthur Andersen & Co.		35	Trustee/Managing General Partner of funds in the Fund Complex. Director of Quidel Corporation and Stericycle, Inc. Prior to May 2008, Trustee of The Scripps Research Institute. Prior to February 2008, Director of Ventana Medical Systems, Inc. Prior to April 2007, Director of GATX Corporation. Prior to April 2004, Director of TheraSense, Inc. Prior to January 2004, Director of TeleTech Holdings Inc. and prior to 2002, Director of Arris Group, Inc.

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				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
Linda Hutton Heagy2,4 (61) 4939 South Greenwood Chicago, IL 60615	Trustee	†	Prior to June 2008, Managing Partner of Heidrick & Struggles, the second largest global executive search firm, and from 2001-2004, Regional Managing Director of U.S. operations at Heidrick & Struggles. Prior to 1997, Managing Partner of Ray & Berndtson, Inc., an executive recruiting firm. Prior to 1995, Executive Vice President of ABN AMRO, N.A., a bank holding company, with oversight for treasury management operations including all non-credit product pricing. Prior to 1990, experience includes Executive Vice President of The Exchange National Bank with oversight of treasury management including capital markets operations,		18	Trustee/Managing General Partner of funds in the Fund Complex. Prior to 2010, Trustee on the University of Chicago Medical Center Board, Vice Chair of the Board of the YMCA of Metropolitan Chicago and a member of the Women’s Board of the University of Chicago.
			Vice President of Northern Trust Company and an Associate at Price Waterhouse.
R. Craig Kennedy3 (58) 1744 R Street, N.W. Washington, D.C. 20009	Trustee	†	Director and President of the German Marshall Fund of the United States, an independent U.S. foundation created to deepen understanding, promote collaboration and stimulate exchanges of practical experience between Americans and Europeans. Formerly, advisor to the Dennis Trading Group Inc., a managed futures and option company that invests money for individuals and institutions. Prior to 1992, President and Chief Executive Officer, Director and member of the Investment Committee of the Joyce Foundation, a private foundation.		18	Trustee/Managing General Partner of funds in the Fund Complex. Director of First Solar, Inc.

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				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
Howard J Kerr1 (74) 14 Huron Trace Galena, IL 61036	Trustee	†	Retired. Previous member of the City Council and Mayor of Lake Forest, Illinois from 1988 through 2002. Previous business experience from 1981 through 1996 includes President and Chief Executive Officer of Pocklington Corporation, Inc., an investment holding company, President and Chief Executive Officer of Grabill Aerospace, and President of Custom Technologies Corporation. United States Naval Officer from 1960 through 1981, with responsibilities including Commanding Officer of United States Navy destroyers and Commander of United States Navy Destroyer Squadron Thirty-Three, White House experience in 1973 through 1975 as military aide to Vice Presidents Agnew and		18	Trustee/Managing General Partner of funds in the Fund Complex. Director of the Lake Forest Bank & Trust. Director of the Marrow Foundation.
			Ford and Naval Aid to President Ford, and Military Fellow on the Council of Foreign Relations in 1978-through 1979.
Jack E. Nelson3 (74) 423 Country Club Drive Winter Park, FL 32789	Trustee	†	President of Nelson Investment Planning Services, Inc., a financial planning company and registered investment adviser in the State of Florida. President of Nelson Ivest Brokerage Services Inc., a member of the Financial Industry Regulatory Authority (“FINRA”), Securities Investors Protection Corp. and the Municipal Securities Rulemaking Board. President of Nelson Sales and Services Corporation, a marketing and services company to support affiliated companies.		18	Trustee/Managing General Partner of funds in the Fund Complex.

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				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
Hugo F. Sonnenschein3,4 (69) 1126 E. 59th Street Chicago, IL 60637	Trustee	†	President Emeritus and Honorary Trustee of the University of Chicago and the Adam Smith Distinguished Service Professor in the Department of Economics at the University of Chicago. Prior to July 2000, President of the University of Chicago.		35	Trustee/Managing General Partner of funds in the Fund Complex. Trustee of the University of Rochester and a member of its investment committee. Member of the National Academy of Sciences, the American Philosophical Society and a fellow of the American Academy of Arts.
Suzanne H. Woolsey, Ph.D.1 (68) 815 Cumberstone Road Harwood, MD 20776	Trustee	†	Chief Communications Officer of the National Academy of Sciences and Engineering and Institute of Medicine/National Research Council, an independent, federally chartered policy institution, from 2001 to November 2003 and Chief Operating Officer from 1993 to 2001. Executive Director of the Commission on Behavioral and Social Sciences and Education at the National Academy of Sciences/National Research Council from 1989 to 1993. Prior to 1980, experience includes Partner of Coopers & Lybrand (from 1980 to 1989), Associate Director of the US Office of Management and Budget (from 1977 to 1980) and Program Director of the Urban Institute (from 1975 to 1977).		18	Trustee/Managing General Partner of funds in the Fund Complex. Independent Director and audit committee chairperson of Changing World Technologies, Inc., an energy manufacturing company, since July 2008. Independent Director and member of audit and governance committees of Fluor Corp., a global engineering, construction and management company, since January 2004. Director of Intelligent Medical Devices, Inc., a private company which develops symptom-based diagnostic tools for viral respiratory infections. Advisory Board member of ExactCost LLC, a private company providing activity-based costing for hospitals, laboratories, clinics, and physicians, since 2008. Chairperson of the Board of Trustees of the Institute for Defense Analyses, a federally funded research and development center, since 2000. Trustee from 1992 to 2000 and 2002 to present, current chairperson of the finance committee, current member of the audit committee, strategic growth committee and executive committee, and former Chairperson of the Board of Trustees (from 1997 to 1999), of the German Marshall

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				Number of
		Term of		Funds in
		Office and		Fund
	Position(s)	Length of		Complex
Name, Age and Address	Held with	Time		Overseen		Other Directorships
of Trustee	Funds	Served	Principal Occupation(s)	by Trustee		Held by Trustee
						Fund of the United States, a public foundation. Lead Independent Trustee of the Rocky Mountain Institute, a non-profit energy and environmental institute; Trustee since 2004. Chairperson of the Board of Trustees of the Colorado College; Trustee since 1995. Trustee of California Institute of Technology. Previously, Independent Director and member of audit committee and governance committee of Neurogen Corporation from 1998 to 2006; and Independent Director of Arbros Communications from 2000 to 2002.
Interested Trustees:
Colin D. Meadows*3 (39) 1555 Peachtree Street, N.E. Atlanta, GA 30309	Trustee Chief Administrative Officer of Invesco Advisers, Inc.	†	Chief Administrative Officer of Invesco Advisers, Inc. since 2006. Prior to 2006, Senior Vice President of business development and mergers and acquisitions at GE Consumer Finance. Prior to 2005, Senior Vice President of strategic planning and technology at Wells Fargo Bank. From 1996 to 2003, associate principal with McKinsey & Company, focusing on the financial services and venture capital industries, with emphasis in the banking and asset management sectors.		17
Wayne W. Whalen**2 (70) 155 North Wacker Drive Chicago, IL 60606	Trustee	†	Of Counsel, and prior to 2010, partner in the law firm of Skadden, Arps, Slate, Meagher & Flom LLP, legal counsel to funds in the Fund Complex.		35	Trustee/Managing General Partner of funds in the Fund Complex. Director of the Abraham Lincoln Presidential Library Foundation.

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 ¹ Designated as a Class I trustee.

 ² Designated as a Class II trustee.

 ³ Designated as a Class III trustee.

 ⁴  Mr. Sonnenschein is elected by the holders of all Funds with Preferred Shares. Currently, Mr. Dammeyer has been elected by the holders of all Funds with Preferred Shares. At the Meeting, Ms. Heagy is to be elected by the holders of Preferred Shares, and Mr. Dammeyer is to be elected by the holders of Common Shares, for each of VKL, VCV, VPV and VMV.

 *  Mr. Meadows is an interested person of the Funds in the fund complex because he is an officer of the Adviser. The Board of Trustees of the Funds appointed Mr. Meadows as Trustee of the Funds effective June 1, 2010.

 **  Mr. Whalen is an interested person (within the meaning of Section 2(a) (19) of the 1940 Act) of certain funds in the fund complex by reason of he and his firm currently providing legal services as legal counsel to such funds in the Fund Complex.

 †  Each Trustee generally serves a three-year term from the date of election. Each Trustee has served as a Trustee of each respective Fund since the year shown in Annex C.

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Board Qualifications, Diversity and Leadership Structure

The management of the Invesco Van Kampen Funds seeks to provide investors with disciplined investment teams, a research-driven culture, careful long-term perspective, and a legacy of experience. Consistent with these goals, the Board overseeing the Invesco Van Kampen Funds seeks to provide shareholders with a highly qualified, highly capable and diverse group of Board members reflecting the diversity of investor interests underlying the Invesco Van Kampen Funds and with a diversity of backgrounds, experience and skills that the Board considers desirable and necessary to its primary goal — protecting and promoting shareholders’ interests. While the Board does not require that its members meet specific qualifications, the Board has historically sought to recruit and continues to value individual Board members that add to the overall diversity of the Board — the objective is to bring varied backgrounds, experience and skills reflective of the wide range of the shareholder base and provide both contrasting and complementary skills relative to the other Board members to best protect and promote shareholders’ interests. Board diversity means bringing together different viewpoints, professional experience, investment experience, education, and other skills. As can be seen in the individual biographies above, the Board brings together a wide variety of business experience (including chairman/chief executive officer-level and director-level experience, including board committee experience, of several different types of organizations); varied public and private investment-related experience;not-for-profit experience; customer service and other back office operations experience; a wide variety of accounting, finance, legal, and marketing experience; academic experience; consulting experience; and government, political and military service experience. All of this experience together results in important leadership and management knowledge, skills and perspective that provide the Board understanding and insight into the operations of the Funds and add range and depth to the Board. As part of its governance oversight, the Board conducts an annual self-effectiveness survey which includes, among other things, evaluating the Board’s (and each committee’s) agendas, meetings and materials, conduct of the meetings, committee structures, interaction with management, strategic planning, etc., and also includes evaluating the Board’s (and each committee’s) size, composition, qualifications (including diversity of characteristics, experience and subject matter expertise) and overall performance. The Board evaluates all of the foregoing and does not believe any single factor or group of factors controls or dominates the qualifications of any individual trustee or the qualifications of the trustees as a group. After considering all factors together, the Board believes that each Trustee is qualified to serve as a Trustee of the Invesco Van Kampen Funds. For more information about the backgrounds, experience, and skills of each Trustee, see the individual biographies above.

The Board’s leadership structure consists of a Chairman of the Board and three standing committees, each described below (and ad hoc committees when necessary), with each committee staffed by Independent Trustees and an Independent Trustee as Committee Chairman. The Chairman of the Board is not the principal executive officer

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of the Funds. The Chairman of the Board is not an “interested person” (as that term is defined by the 1940 Act) of the Adviser. However, the Chairman of the Board is an “interested person” (as that term is defined by the 1940 Act) of the Funds for the reasons described above in the Trustee biographies. The Board, including the independent trustees, periodically reviews the Board’s leadership structure for the Invesco Van Kampen Funds, including the interested person status of the Chairman, and has concluded the leadership structure is appropriate for the Funds. In considering the chairman position, the Board has consideredand/or reviewed (i) the Funds’ organizational documents, (ii) the role of a chairman (including, among other things, setting the agenda and managing information flow, running the meeting and setting the proper tone), (iii) the background, experience and skills of the Chairman (including his independence from the Adviser), (iv) alternative structures (including combined principal executive officer/chairman, selecting one of the Independent Trustees as chairmanand/or appointing an independent lead trustee), (v) rule proposals in recent years that would have required all fund complexes to have an independent chairman, (vi) the Chairman’s past and current performance, and (vii) the potential conflicts of interest of the Chairman (and noted their periodic review as part of their annual self-effectiveness survey and as part of an independent annual review by the Funds’ audit committee of fund legal fees related to such potential conflict). In conclusion, the Board and the Independent Trustees have expressed their continuing support of Mr. Whalen as Chairman.

Board Role in Risk Oversight

As noted above, the management of the fund complex seeks to provide investors with disciplined investment teams, a research-driven culture, careful long-term perspective and a legacy of experience. Thus, the goal for each fund is attractive long-term performance consistent with the objectives and investment policies and risks for such fund, which in turn means, among other things, good security selection, reasonable costs and quality shareholder services. An importantsub-component of delivering this goal is risk management — understanding, monitoring and controlling the various risks in making investment decisions at the individual security level as well as portfolio management decisions at the overall fund level. The key participants in the risk management process of the Funds are each fund’s portfolio managers, the Adviser’s senior management, the Adviser’s risk management group, the Adviser’s compliance group, the Funds’ chief compliance officer, and the various support functions (i.e. the custodian, the Funds’ accountants (internal and external), and legal counsel). While funds are subject to other risks such as valuation, custodial, accounting, shareholder servicing, etc., a fund’s primary risk is understanding, monitoring and controlling the various risks in making portfolio management decisions consistent with the fund’s objective and policies. The Board’s role is oversight of management’s risk management process. At regular quarterly meetings, the Board reviews Fund performance and factors, including risks, affecting such performance by fund with the Adviser’s senior

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management, and the Board typically meets at least once a year with the portfolio managers of each fund. At regular quarterly meetings, the Board reviews reports showing monitoring done by the Adviser’s risk management group, by the Adviser’s compliance group, the Funds’ chief compliance officer and reports from the Funds’ support functions.

Remuneration of Trustees

The compensation of Trustees and executive officers that are affiliated persons (as defined in 1940 Act) of the Adviser is paid by the respective affiliated entity. The Funds pay the non-affiliated Trustees an annual retainer and meeting fees for services to such funds.

Each Trustee has served as a member of each Fund’s Board of Trustees since the year of such Trustee’s appointment or election as set forth on Annex C to this Proxy Statement.

Additional information regarding compensation and benefits for Trustees is set forth below. As indicated in the notes accompanying the table, the amounts relate to either the respective Fund’s most recently completed fiscal year ended in 2009 or the most recently completed calendar year ended December 31, 2009.

Compensation Table

			Invesco Van Kampen Funds
					Aggregate
					Estimated
			Aggregate		Maximum		Total
			Pension or		Annual		Compensation
			Retirement		Benefits from		Before
			Benefits		the Fund		Deferral from
	Aggregate		Accrued as		Complex		Invesco
	Compensation		Part of		Upon		Van Kampen
Name	from Each Fund(1)(4)		Expenses(2)(4)		Retirement(3)(4)		Funds(5)
Independent Trustees
David C. Arch		(1)	$	42,315	$	105,000	$	227,131
Jerry D. Choate		(1)		111,454		105,000		227,131
Rod Dammeyer		(1)		86,550		105,000		227,131
Linda Hutton Heagy		(1)		28,549		105,000		227,131
R. Craig Kennedy		(1)		19,253		105,000		227,131
Howard J Kerr		(1)		30,608		157,741		227,131
Jack E. Nelson		(1)		38,437		105,000		227,131
Hugo F. Sonnenschein		(1)		87,154		105,000		227,131
Suzanne H. Woolsey		(1)		72,965		105,000		227,131
Interested Trustees
Colin D. Meadows(6)		(1)		0		0
Wayne W. Whalen		(1)		82,190		105,000		227,131

(1)  The amount of aggregate compensation payable by each Fund for its most recently completed fiscal year ended in 2009 before deferral by the Trustees under the

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deferred compensation plan is shown in Annex D. Certain Trustees deferred all or a portion of the aggregate compensation payable by each Fund for its most recently completed fiscal year ended in 2009 as shown in Annex E. The deferred compensation plan allowed trustees to defer receipt of compensation so that amounts deferred were retained by the respective Fund and earned a rate of return determined by reference to either the return on the Common Shares of the Fund or the common shares of other funds in the Fund Complex as selected by the respective Trustee. To the extent permitted by the 1940 Act, the Fund invested in securities of these funds selected by the Trustees in order to match the deferred compensation obligation. The cumulative deferred compensation (including earnings accrued thereon for each trustee) for each Fund as of the end of its most recently completed fiscal year ended in 2009 is shown in Annex F.

(2)	The amounts shown in this column represent the sum of the retirement benefits accrued by the operating funds in the Fund Complex for each of the trustees for the funds’ respective fiscal years ended in 2009. Each Fund had previously adopted a retirement plan. Under the retirement plan, a non-affiliated Trustee who had been receiving Trustee’s compensation from a Fund prior to such non-affiliated Trustee’s retirement, had at least 10 years of service (including years of service prior to adoption of the retirement plan) for such Fund and retires at or after attaining the age of 60, was eligible to receive a retirement benefit each year for ten years following such Trustee’s retirement from such Fund. Non-affiliated Trustees retiring prior to the age of 60 or with fewer than 10 years but more than 5 years of service were entitled to reduced retirement benefits from a Fund.
(3)	For each trustee, this is the sum of the estimated maximum annual benefits payable by the funds in the Fund Complex as of the calendar year ended December 31, 2009 for each year of the10-year period commencing in the year of such trustee’s anticipated retirement. The retirement plan that had previously been in place is described above.
(4)	Prior to June 1, 2010, the Board of the Funds and the Boards of many of other funds formerly advised by Van Kampen Asset Management had the same members in common across all such Board, and these Boards had common director/trustee compensation and benefit arrangements, including deferred compensation plans and retirement plans, across all of those Boards and their respective underlying funds. Other than the new member added to the Board on June 1, 2010, the other members of the Board of the Funds did not change, however, the Boards of most of the other funds formerly advised by Van Kampen Asset Management did change and in connection with these changes, among other things, the Fund terminated its deferred compensation plan and retirement plan and paid out the amounts deferredand/or accrued on the Funds’ books through the date of such termination and additional amounts not accrued to date in the amount of the net present value of the benefits the Board members would have received had they served until their normal retirement date on all such funds plus an amount equal to taxes on such payment. Such additional amounts payable to any Board members were not borne by the Funds’ shareholders.
(5)	The amounts shown in this column represent the aggregate compensation paid by all of the funds in the Fund Complex as of December 31, 2009 before deferral by the trustees under the deferred compensation plan. Because the funds in the Fund Complex have different fiscal year ends, the amounts shown in this column are presented on a calendar year basis.

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(6)  Mr. Meadows was not a member of the Board as of the most recently completed fiscal year end of each Fund or the calendar year ended December 31, 2009.

Board Committees and Meetings

Each Fund’s Board of Trustees has three standing committees (an audit committee, a brokerage and services committee and a governance committee). Each committee is comprised solely of “Independent Trustees”, which is defined for purposes herein as trustees who: (1) are not “interested persons” of the Fund as defined by the 1940 Act and (2) are “independent” of the respective Fund as defined by the New York Stock Exchange, American Stock Exchange and Chicago Stock Exchange listing standards.

Each Board’s audit committee consists of Messrs. Choate, Dammeyer and Kennedy. In addition to being Independent Trustees as defined above, each of these Trustees also meets the additional independence requirements for audit committee members as defined by the New York Stock Exchange, American Stock Exchange and Chicago Stock Exchange listing standards. The audit committee makes recommendations to the Board of Trustees concerning the selection of each Fund’s independent registered public accounting firm, reviews with such independent registered public accounting firm the scope and results of each Fund’s annual audit and considers any comments which the independent registered public accounting firm may have regarding each Fund’s financial statements, accounting records or internal controls. Each Board of Trustees has adopted a formal written charter for the audit committee which sets forth the audit committee’s responsibilities. The audit committee charter for each of the Funds is available at www.invesco.com. The audit committee has reviewed and discussed the financial statements of each Fund with management as well as with the independent registered public accounting firm of each Fund, and discussed with the independent registered public accounting firm the matters required to be discussed under the Statement of Auditing Standards No. 61. The audit committee has received the written disclosures and the letter from the independent registered public accounting firm required under Independence Standard Board Standard No. 1 and has discussed with the independent registered public accountants their independence. Based on this review, the audit committee recommended to the Board of Trustees of each Fund that each Fund’s audited financial statements be included in each Fund’s annual report to shareholders for the most recent fiscal year for filing with the Securities and Exchange Commission (“SEC”). Each member of the Fund’s audit committee is deemed an audit committee financial expert.

Each Board’s brokerage and services committee consists of Mesdames Heagy and Woolsey and Mr. Sonnenschein. The brokerage and services committee reviews each Fund’s allocation of brokerage transactions and soft-dollar practices and reviews the transfer agency and shareholder servicing arrangements.

Each Board’s governance committee consists of Messrs. Arch, Kerr and Nelson. In addition to being Independent Trustees as defined above, each of these Trustees also

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meets the additional independence requirements for nominating committee members as defined by the New York Stock Exchange, American Stock Exchange and Chicago Stock Exchange listing standards. The governance committee identifies individuals qualified to serve as Independent Trustees on the Board and on committees of the Board, advises the Board with respect to Board composition, procedures and committees, develops and recommends to the Board a set of corporate governance principles applicable to the respective Fund, monitors corporate governance matters and makes recommendations to the Board, and acts as the administrative committee with respect to Board policies and procedures, committee policies and procedures and codes of ethics. The governance committee charter for each of the Funds, which includes each Fund’s nominating policies, is available at www.invesco.com. The Independent Trustees of the respective Fund select and nominate any other nominee Independent Trustees for the respective Fund. While the Independent Trustees of the respective Fund expect to be able to continue to identify from their own resources an ample number of qualified candidates for the Board of Trustees as they deem appropriate, they will consider nominations from shareholders to the Board. Nominations from shareholders should be in writing and sent to the Independent Trustees as described below.

During the fiscal year ended October 31, 2009, the Board of Trustees of VCV, VMV, VPV, VKI, VGM, VIM, VTJ, VTN, VMO, VKL, VKQ and VOQ each held 17 meetings. During each such Fund’s last fiscal year, the audit committee of each such Board held 4 meetings, the brokerage and services committee of each such Board held 5 meetings and the governance committee of each such Board held 1 meeting. During the last fiscal year, each of the Trustees of such Funds during the period such Trustee served as a Trustee attended at least 75% of the meetings of the respective Board of Trustees and all committee meetings thereof of which such Trustee was a member.

During the fiscal year ended July 31, 2009, the Board of Trustees of VVR and VTA each held 13 meetings. During such Fund’s last fiscal year, the audit committee of such Board held 4 meetings, the brokerage and services committee of such Board of such Fund held 5 meetings and the governance committee of such Board held 2 meetings. During the last fiscal year, each of the Trustees of such Fund during the period such Trustee served as a Trustee attended at least 75% of the meetings of such Fund’s Board of Trustees and all committee meetings thereof of which such Trustee was a member.

During the fiscal year ended June 30, 2009, the Board of Trustees of VBF held 12 meetings. During such Fund’s last fiscal year, the audit committee of such Board held 4 meetings, the brokerage and services committee of such Board of such Fund held 5 meetings and the governance committee of such Board held 2 meetings. During the last fiscal year, each of the Trustees of such Fund during the period such Trustee served as a Trustee attended at least 75% of the meetings of such Fund’s Board of Trustees and all committee meetings thereof of which such Trustee was a member.

During the fiscal year ended December 31, 2009, the Board of Trustees of VLT held 16 meetings. During such Fund’s last fiscal year, the audit committee of such Board

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held 4 meetings, the brokerage and services committee of such Board of such Fund held 5 meetings and the governance committee of such Board held 1 meeting. During the last fiscal year, each of the Trustees of such Fund during the period such Trustee served as a Trustee attended at least 75% of the meetings of such Fund’s Board of Trustees and all committee meetings thereof of which such Trustee was a member.

Shareholder Communications

Shareholders may send communications to each Fund’s Board of Trustees. Shareholders should send communications intended for the Board by addressing the communication directly to the Board (or individual Board members) and/or otherwise clearly indicating in the salutation that the communication is for the Board (or individual Board members) and by sending the communication to either the applicable Fund’s office or directly to such Board member(s) at the address specified for such Trustee above. Other shareholder communications received by any Fund not directly addressed and sent to the Board will be reviewed and generally responded to by management, and will be forwarded to the Board only at management’s discretion based on the matters contained therein.

Shareholder Approval

With respect to Proposal 1(a) through (d), the holders of Common Shares and Preferred Shares, where applicable, voting as a separate class, will vote on the respective nominees designated to be elected by such class of shares. The affirmative vote of a plurality of the Common Shares of each Fund present at the Meeting in person or by proxy is required to elect each nominee for Trustee designated to be elected by the Common Shares and, where applicable, the affirmative vote of a plurality of the Preferred Shares of each Fund present at the Meeting in person or by proxy is required to elect each nominee for Trustee designated to be elected by the Preferred Shares.The Board of Trustees recommends a vote “FOR ALL” of the nominees.

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OTHER INFORMATION

Executive Officers of the Funds

The following information relates to the executive officers of the Funds. Each officer also serves in the same capacity for all or a number of the other investment companies advised by the Adviser or affiliates of the Adviser. The officers of the Funds are appointed annually by the Trustees and serve for one year or until their respective successors are chosen and qualified. The Funds’ officers receive no compensation from the Funds but may also be officers or employees of the Adviser or officers of affiliates of the Adviser and may receive compensation in such capacities.

Name, Year of Birth
and Position(s) Held	Principal Occupation(s)
with the Trust	During Past 5 Years
Russell C. Burk - 1958 Senior Vice President and Senior Officer	Senior Vice President and Senior Officer, The Invesco Funds
John M. Zerr - 1962 Senior Vice President, Chief Legal Officer and Secretary	Director, Senior Vice President, Secretary and General Counsel, Invesco Management Group, Inc. (formerly known as Invesco Aim Management Group, Inc.), Senior Vice President, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser); Senior Vice President and Secretary, Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.); Director, Vice President and Secretary, Invesco Investment Services, Inc. (formerly known as Invesco Aim Investment Services, Inc.) and IVZ Distributors, Inc. (formerly known as INVESCO Distributors, Inc.); Director and Vice President, INVESCO Funds Group, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The Invesco Funds; and Manager, Invesco PowerShares Capital Management LLC.
	Formerly: Director, Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.); Director, Senior Vice President, General Counsel and Secretary, Invesco Advisers, Inc.; Director, Vice President and Secretary, Fund Management Company; Director, Senior Vice President, Secretary, General Counsel and Vice President, Invesco Aim Capital Management, Inc.; Chief Operating Officer and General Counsel, Liberty Ridge Capital, Inc. (an investment adviser); Vice President and Secretary, PBHG Funds (an investment company) and PBHG Insurance Series Fund (an investment company); Chief Operating Officer, General Counsel and Secretary, Old Mutual Investment Partners (a broker-dealer); General Counsel and Secretary, Old Mutual Fund Services (an administrator) and Old Mutual Shareholder

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Name, Year of Birth
and Position(s) Held	Principal Occupation(s)
with the Trust	During Past 5 Years
	Services (a shareholder servicing center); Executive Vice President, General Counsel and Secretary, Old Mutual Capital, Inc. (an investment adviser); and Vice President and Secretary, Old Mutual Advisors Funds (an investment company).
Lisa O. Brinkley - 1959 Vice President	Global Compliance Director, Invesco Ltd.; Chief Compliance Officer, Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.) and Invesco Investment Services, Inc.(formerly known as Invesco Aim Investment Services, Inc.); and Vice President, The Invesco Funds.
	Formerly: Senior Vice President, Invesco Management Group, Inc.; Senior Vice President and Chief Compliance Officer, Invesco Advisers, Inc. and The Invesco Funds; Vice President and Chief Compliance Officer, Invesco Aim Capital Management, Inc. and Invesco Distributors, Inc.; Vice President, Invesco Investment Services, Inc. and Fund Management Company.
Kevin M. Carome - 1956 Vice President	General Counsel, Secretary and Senior Managing Director, Invesco Ltd.; Director, Invesco Holding Company Limited and INVESCO Funds Group, Inc.; Director and Executive Vice President, IVZ, Inc., Invesco Group Services, Inc., Invesco North American Holdings, Inc. and Invesco Investments (Bermuda) Ltd.; Director and Secretary, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser); Vice President, The Invesco Funds; and Trustee, PowerShares Exchange-Traded Fund Trust, PowerShares Exchange-Traded Fund Trust II, PowerShares India Exchange-Traded Fund Trust and PowerShares Actively Managed Exchange-Traded Fund Trust.
	Formerly: Senior Managing Director and Secretary, Invesco North American Holdings, Inc.; Vice President and Secretary, IVZ, Inc. and Invesco Group Services, Inc.; Senior Managing Director and Secretary, Invesco Holding Company Limited; Director, Senior Vice President, Secretary and General Counsel, Invesco Management Group, Inc. and Invesco Advisers, Inc.; Senior Vice President, Invesco Distributors, Inc.; Director, General Counsel and Vice President, Fund Management Company; Vice President, Invesco Aim Capital Management, Inc. and Invesco Investment Services, Inc.; Senior Vice President, Chief Legal Officer and Secretary, The Invesco Funds; Director and Vice President, IVZ Distributors, Inc. (formerly known as INVESCO Distributors, Inc.; and Chief Executive Officer and President, INVESCO Funds Group, Inc.

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Name, Year of Birth
and Position(s) Held	Principal Occupation(s)
with the Trust	During Past 5 Years
Sheri Morris - 1964 Vice President, Treasurer and Principal Financial Officer	Vice President, Treasurer and Principal Financial Officer, The Invesco Funds; and Vice President, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser).
	Formerly: Vice President, Invesco Advisers, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc.; Assistant Vice President and Assistant Treasurer, The Invesco Funds and Assistant Vice President, Invesco Advisers, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc.
Karen Dunn Kelley - 1960 Vice President	Head of Invesco’s World Wide Fixed Income and Cash Management Group; Senior Vice President, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser); Executive Vice President, Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.); Senior Vice President, Invesco Management Group, Inc. (formerly known as Invesco Aim Management Group, Inc.); and Director, Invesco Mortgage Capital Inc.; Vice President, The Invesco Funds (other than AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust) and Short-Term Investments Trust); and President and Principal Executive Officer, The Invesco Funds (AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust) and Short-Term Investments Trust only).
	Formerly: Vice President, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.); Director of Cash Management and Senior Vice President, Invesco Advisers, Inc. and Invesco Aim Capital Management, Inc.; President and Principal Executive Officer, Tax-Free Investments Trust; Director and President, Fund Management Company; Chief Cash Management Officer, Director of Cash Management, Senior Vice President, and Managing Director, Invesco Aim Capital Management, Inc.; Director of Cash Management, Senior Vice President, and Vice President, Invesco Advisers, Inc. and The Invesco Funds (AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust), Short-Term Investments Trust and Tax-Free Investments Trust only).
Lance A. Rejsek - 1967 Anti-Money Laundering Compliance Officer	Anti-Money Laundering Compliance Officer, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser); Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.), Invesco Investment Services, Inc. (formerly known as Invesco Aim Investment Services, Inc.), The Invesco Funds, PowerShares Exchange-Traded Fund Trust, PowerShares Exchange-Traded Trust II, PowerShares India Exchange-Traded Fund Trust and PowerShares Actively Managed Exchange-Traded Fund Trust. Formerly: Anti-Money Laundering Compliance Officer, Fund Management Company, Invesco Advisers, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc.

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Name, Year of Birth
and Position(s) Held	Principal Occupation(s)
with the Trust	During Past 5 Years
Todd L. Spillane - 1958 Chief Compliance Officer	Senior Vice President, Invesco Management Group, Inc. (formerly known as Invesco Aim Management Group, Inc.); Senior Vice President and Chief Compliance Officer, Invesco Advisers, Inc. (registered investment adviser) (formerly known as Invesco Institutional (N.A.), Inc.); Chief Compliance Officer, The Invesco Funds, PowerShares Exchange-Traded Fund Trust, PowerShares Exchange-Traded Trust II, PowerShares India Exchange-Traded Fund Trust and PowerShares Actively Managed Exchange-Traded Fund Trust, INVESCO Private Capital Investments, Inc. (holding company), Invesco Private Capital, Inc. (registered investment adviser) and Invesco Senior Secured Management, Inc. (registered investment adviser); Vice President, Invesco Distributors, Inc. (formerly known as Invesco Aim Distributors, Inc.) and Invesco Investment Services, Inc. (formerly known as Invesco Aim Investment Services, Inc.)
	Formerly: Senior Vice President and Chief Compliance Officer, Invesco Advisers, Inc. and Invesco Aim Capital Management, Inc.; Chief Compliance Officer, Invesco Global Asset Management (N.A.), Inc.; Vice President, Invesco Aim Capital Management, Inc. and Fund Management Company.

24

Shareholder Information

As of May 28, 2010, to the knowledge of the Funds, no shareholder owned beneficially more than 5% of a class of a Fund’s outstanding Shares except as set forth on Annex J. As of May 28, 2010, certain Trustees and executive officers owned, directly or beneficially, the number of Common Shares of each Fund as set forth in Annex G. Except as indicated on Annex G, as of May 28, 2010, the Trustees and executive officers of the Funds individually and as a group owned less than 1% of the outstanding Shares of each Fund. Trustees and executive officers who do not own any Common Shares of the Funds or Funds which are not owned by any Trustee or executive officers have been omitted from the table in Annex G. As of May 28, 2010, no Trustees or executive officers owned any Preferred Shares of the Funds. As of May 28, 2010, each Trustee beneficially owned equity securities of the Funds and other funds in the Fund Complex overseen by the Trustees in the dollar range amounts as specified in Annex H.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 30(f) of the 1940 Act and Section 16(a) of the Securities Exchange Act of 1934, as amended, require each of the Funds’ Trustees, officers, investment adviser, affiliated persons of the investment adviser and persons who own more than 10% of a registered class of the Fund’s equity securities to file forms with the SEC and the New York Stock Exchange or American Stock Exchange, as applicable, reporting their affiliation with the Fund and reports of ownership and changes in ownership of Fund Shares. These persons and entities are required by SEC regulations to furnish the Fund with copies of all such forms they file. Based on a review of these forms furnished to each Fund, each Fund believes that during its last fiscal year, its Trustees, officers, the Adviser and affiliated persons of the Adviser complied with the applicable filing requirements except as follows: Form 4 Filings relating to common shares of each of VKQ, VMO, VLT, VBF, and VKL on behalf of Craig Kennedy, a Trustee of the Funds, inadvertently was not filed in a timely manner; Form 4 Filings relating to common shares of VVR and VBF on behalf of Hugo F. Sonnenschein, a Trustee of the Funds, inadvertently was not filed in a timely manner; and a Form 4 Filing relating to common shares of VVR on behalf of Linda Hutton Heagy, a Trustee of the Funds, inadvertently was not filed in a timely manner.

Independent Registered Public Accounting Firm

The Board of Trustees of each Fund, including a majority of the Trustees who are not “interested persons” of any Fund (as defined by the 1940 Act), have appointed, effective June 1, 2010, PricewaterhouseCoopers, LLP (“PWC”) as the independent registered public accounting firm of each Fund for each Fund’s fiscal year following May 31, 2010. Each Fund’s independent registered public accounting firm prior to May 31, 2010 was Deloitte & Touche LLP (“D&T” or the “Prior Auditor”). The audit committee of each Fund recommended and approved the decision to change each Fund’s independent

25

registered public accounting firm and such decision was approved by each Fund’s Board, including a majority of the Trustees who are not “interested persons” of any Fund (as defined by the 1940 Act) in connection with the change in control of the Fund’s investment adviser, and Invesco Advisers becoming investment adviser to each Fund (“Change in Control”). The Change in Control resulted in the Prior Auditor being prohibited from being engaged by the Funds as independent registered public accountants for the Funds’ fiscal years ended after May 31, 2010 because of certain business relationships between the accountants and certain affiliates of the Funds’ new investment adviser, Invesco Advisers, or its affiliated companies that are not permitted under the auditor independence requirements inRule 2-01 ofRegulation S-X. The Funds’ Board of Trustees believes that there are operational efficiencies in having one auditor for all Invesco Funds.

Concurrent with the effective date of the Change in Control, the Prior Auditor resigned as the independent registered public accounting firm of each Fund.

The Prior Auditor’s report on the financial statements of each Fund for the past two years did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principles. During the period the Prior Auditor was engaged, there were no disagreements with the Prior Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which would have caused it to make reference to that matter in connection with its report for any Fund.

Audit and Other Fees

Each Fund and certain “covered entities” were billed the amounts listed on Annex I by D&T during such Fund’s most recent two fiscal years.

The audit committee of each Board has considered whether the provision of non-audit services performed by D&T to the Funds and “covered entities” is compatible with maintaining D&T’s independence in performing audit services. The audit committee also is required to pre-approve services to “covered entities” to the extent that the services are determined to have a direct impact on the operations or financial reporting of the Funds and 100% of such services were pre-approved by the audit committee pursuant to the audit committee’s pre-approval policies and procedures. The Board’s pre-approval policies and procedures are included as part of the Board’s audit committee charter, which is available at www.invesco.com.

It is not expected that representatives of D&T or PricewaterhouseCoopers, LLP will attend the Meeting. In the event representatives of D&T or PricewaterhouseCoopers, LLP do attend the Meeting, they will have the opportunity to make a statement if they desire to do so and will be available to answer appropriate questions.

26

Expenses

The expenses of preparing, printing and mailing the enclosed form of proxy, the accompanying Notice and this Proxy Statement, and all other costs in connection with the solicitation of proxies will be borne by the Funds. These expenses will be allocated among each of the Funds in a fair and equitable manner. The Funds will also reimburse banks, brokers and others for their reasonable expenses in forwarding proxy solicitation material to the beneficial owners of the shares of the Funds. In order to obtain the necessary quorum at the Meeting, additional solicitation may be made by mail, telephone, facsimile or personal interview by representatives of the Funds, the Adviser or its affiliates, by the transfer agents of the Funds and by dealers or their representatives. The Funds may also retain Computershare Fund Services, a professional proxy solicitation firm, to assist in additional proxy solicitation. The estimated cost of solicitation by Computershare Fund Services is approximately $3,000 per Fund.

Shareholder Proposals

To be considered for presentation at a shareholders’ meeting, rules promulgated by the SEC generally require that, among other things, a shareholder’s proposal must be received at the offices of the relevant Fund a reasonable time before a solicitation is made. Shareholder proposals intended to be presented at the year 2011 annual meeting of shareholders for a Fund pursuant toRule 14a-8 under the Exchange Act of 1934, as amended (the “Exchange Act”), must be received by the Fund at the Fund’s principal executive offices by March 18, 2011. In order for proposals made outside ofRule 14a-8 under the Exchange Act to be considered “timely” within the meaning ofRule 14a-4(c) under the Exchange Act, such proposals must be received by the Fund at the Fund’s principal executive offices not later than May 2, 2011. Timely submission of a proposal does not necessarily mean that such proposal will be included. Any shareholder who wishes to submit a proposal for consideration at a meeting of such shareholder’s Fund should send such proposal to the respective Fund at the principal executive offices of the Fund at 1555 Peachtree Street, N.E., Atlanta, GA 30309, Attn: President and General Counsel.

Important Notice Regarding the Availability of Proxy Materials for the Meeting to be held on July 16, 2010.

This Joint Proxy Statement is available on the Internet at:
https://www.proxy-direct.com/inv21514

General

Management of each Fund does not intend to present and does not have reason to believe that others will present any other items of business at the Meeting. However, if other matters are properly presented to the Meeting for a vote, the proxies will be voted upon such matters in accordance with the judgment of the persons acting under the proxies.

27

A list of shareholders of each Fund entitled to be present and vote at the Meeting will be available at the offices of the respective Fund, 11 Greenway Plaza, Suite 2500, Houston, TX 77046-1173, for inspection by any shareholder during regular business hours for ten days prior to the date of the Meeting.

Failure of a quorum to be present at the Meeting for any Fund may necessitate adjournment and may subject such Fund to additional expense.

If you cannot be present in person, you are requested to fill in, sign and return the enclosed proxy card, for which no postage is required if mailed in the United States, or record your voting instructions by telephone or via the internet promptly.

John M. Zerr,

Senior Vice President, Secretary and
Chief Legal Officer

June 11, 2010

28

ANNEX A

Invesco Van Kampen Closed-End Funds

The following list sets forth the Invesco Van Kampen closed-end investment companies (the “Funds”) participating in the Joint Annual Meeting of Shareholders to be held at 11 Greenway Plaza, Suite 2500, Houston, TX 77046 on July 16, 2010, at 3:00 p.m. The name in the first column below is the legal name for each Fund. The name in the second column is the abbreviated name of each Fund and the designation in the third column is the stock symbol of each Fund; the abbreviated name or ticker symbol are sometimes used to identify a specific Fund in the Joint Proxy Statement. Each of the Funds has issued common shares of beneficial interest and such common shares of the Funds are referred to herein as the “Common Shares.” Each of the Funds, except VBF, VTA and VLT, have issued preferred shares of beneficial interest with a liquidation preference per share as designated in the fourth column below, and such preferred shares of such Funds are referred to herein as the “Preferred Shares.”

			Preferred Shares
Legal Name	Abbreviated Name	Ticker Symbol	Outstanding
Invesco Van Kampen Select Sector Municipal Trust	Select Sector Municipal Trust	VKL	Remarketed Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Municipal Trust	Municipal Trust	VKQ	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Ohio Quality Municipal Trust	Ohio Quality Municipal Trust	VOQ	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Trust for Insured Municipals	Trust for Insured Municipals	VIM	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Trust for Investment Grade Municipals	Trust for Investment Grade Municipals	VGM	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Trust for Investment Grade New York Municipals	Trust for Investment Grade New York Municipals	VTN	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Trust for Investment Grade New Jersey Municipals	Trust for Investment Grade New Jersey Municipals	VTJ	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Municipal Opportunity Trust	Municipal Opportunity Trust	VMO	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Massachusetts Value Municipal Income Trust	Massachusetts Value Municipal Income Trust	VMV	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen California Value Municipal Income Trust	California Value Municipal Income Trust	VCV	Auction Preferred Shares, liquidation preference $25,000 per share

A-1

			Preferred Shares
Legal Name	Abbreviated Name	Ticker Symbol	Outstanding
Invesco Van Kampen Pennsylvania Value Municipal Income Trust	Pennsylvania Value Municipal Income Trust	VPV	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Advantage Municipal Income Trust II	Advantage Municipal Income Trust II	VKI	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Senior Income Trust	Senior Income Trust	VVR	Auction Preferred Shares, liquidation preference $25,000 per share
Invesco Van Kampen Bond Fund	Bond Fund	VBF	None
Invesco Van Kampen Dynamic	Dynamic Credit	VTA	None
Credit Opportunities Fund	Opportunities Fund
Invesco Van Kampen High Income Trust II	High Income Trust II	VLT	None

A-2

ANNEX B

Invesco Van Kampen Closed-End Funds

The following list sets forth the number of issued and outstanding Common Shares and Preferred Shares, where applicable, for each Fund as of May 28, 2010, the Record Date.

Fund Name	Common Shares		Preferred Shares
Select Sector Municipal Trust		15,190,715		3,354
Municipal Trust		38,955,629		8,450
Ohio Quality Municipal Trust		5,798,716		1,400
Trust for Insured Municipals		9,677,749		2,340
Trust for Investment Grade Municipals		53,922,422		13,936
Trust for Investment Grade New York Municipals		15,173,674		3,480
Trust for Investment Grade New Jersey Municipals		6,052,886		1,820
Municipal Opportunity Trust		33,738,681		8,840
Massachusetts Value Municipal Income Trust		2,703,755		690
California Value Municipal Income Trust		22,078,816		5,200
Pennsylvania Value Municipal Income Trust		23,782,179		6,160
Advantage Municipal Income Trust II		44,227,104		10,920
Senior Income Trust		179,999,900		8,000
Bond Fund		11,330,647		None
Dynamic Credit Opportunities Fund		74,013,275		None
High Income Trust II		3,770,265		None

B-1

ANNEX C

     The table below sets forth the year in which each of the Trustees initially was elected or appointed to the Board of Trustees of each Fund.

	Independent Trustees																		Interested Trustees
	Arch		Choate		Dammeyer		Heagy		Kennedy		Kerr		Nelson		Sonnenschein		Woolsey		Meadows		Whalen
Municipal Trust (VKQ)		1991		2003		1991		2003		2003		1992		2003		1994		2003		2010		1991
Ohio Quality Municipal Trust (VOQ)		1991		2003		1991		2003		2003		1992		2003		1994		2003		2010		1991
Trust for Insured Municipals (VIM)		1991		2003		1991		2003		2003		1992		2003		1994		2003		2010		1991
Trust for Investment Grade Municipals (VGM)		1991		2003		1991		2003		2003		1992		2003		1994		2003		2010		1991
Municipal Opportunity Trust (VMO)		1992		2003		1992		2003		2003		1992		2003		1994		2003		2010		1992
Trust for Investment Grade New Jersey Municipals (VTJ)		1992		2003		1992		2003		2003		1992		2003		1994		2003		2010		1992
Trust for Investment Grade New York Municipals (VTN)		1992		2003		1992		2003		2003		1992		2003		1994		2003		2010		1992
Advantage Municipal Income Trust II (VKI)		1993		2003		1993		2003		2003		1993		2003		1994		2003		2010		1993
California Value Municipal Income Trust (VCV)		1993		2003		1993		2003		2003		1993		2003		1994		2003		2010		1993
Massachusetts Value Municipal Income Trust (VMV)		1993		2003		1993		2003		2003		1993		2003		1994		2003		2010		1993
Pennsylvania Value Municipal Income Trust (VPV)		1993		2003		1993		2003		2003		1993		2003		1994		2003		2010		1993
Select Sector Municipal Trust (VKL)		1993		2003		1993		2003		2003		1993		2003		1994		2003		2010		1993
Senior Income Trust (VVR)		1998		2006		1998		2006		2006		1998		2006		1998		2006		2010		1998
Bond Fund (VBF)		1997		2003		1997		2003		2003		1997		2003		1997		2003		2010		1997
Dynamic Credit Opportunities Fund (VTA)		2007		2007		2007		2007		2007		2007		2007		2007		2007		2010		2007
High Income Trust II (VLT)		1989		2003		1989		2003		2003		1992		2003		1994		2003		2010		1989

C-1

ANNEX D

2009 Aggregate Compensation before Deferral from each Fund

			Independent Trustees																		Interested Trustees
Name of Fund	Fiscal Year-End		Arch		Choate		Dammeyer		Heagy		Kennedy		Kerr		Nelson		Sonnenschein		Woolsey		Meadows		Whalen
Advantage Municipal Income Trust II		10/31	$	2,805	$	2,805	$	2,805	$	2,805	$	2,805	$	2,805	$	2,805	$	2,805	$	2,805	$	0	$	2,805
California Value Municipal Income Trust		10/31		1,596		1,596		1,596		1,596		1,596		1,596		1,596		1,596		1,596		0		1,596
Massachusetts Value Municipal Income Trust		10/31		555		555		555		555		555		555		555		555		555		0		555
Municipal Opportunity Trust		10/31		2,418		2,418		2,418		2,418		2,418		2,418		2,418		2,418		2,418		0		2,418
Municipal Trust		10/31		2,530		2,530		2,530		2,530		2,530		2,530		2,530		2,530		2,530		0		2,530
Ohio Quality Municipal Trust		10/31		756		756		756		756		756		756		756		756		756		0		756
Pennsylvania Value Municipal Income Trust		10/31		1,819		1,819		1,819		1,819		1,819		1,819		1,819		1,819		1,819		0		1,819
Select Sector Municipal Trust		10/31		1,185		1,185		1,185		1,185		1,185		1,185		1,185		1,185		1,185		0		1,185
Trust for Insured Municipals		10/31		964		964		964		964		964		964		964		964		964		0		964
Trust for Investment Grade Municipals		10/31		3,671		3,671		3,671		3,671		3,671		3,671		3,671		3,671		3,671		0		3,671
Trust for Investment Grade New Jersey Municipals		10/31		821		821		821		821		821		821		821		821		821		0		821
Trust for Investment Grade New York Municipals		10/31		1,330		1,330		1,330		1,330		1,330		1,330		1,330		1,330		1,330		0		1,330
Senior Income Trust		7/31		3,918		3,918		3,918		3,918		3,918		3,918		3,918		3,918		3,918		0		3,918
Dynamic Credit Opportunities Fund		7/31		3,227		3,227		3,227		3,227		3,227		3,227		3,227		3,227		3,227		0		3,227
Bond Fund		6/30		705		705		705		705		705		705		705		705		705		0		705
High Income Trust II		12/31		605		605		605		605		605		605		605		605		605		0		605

D-1

ANNEX E

2009 Aggregate Compensation Deferred for each Fund

			Independent Trustees												Interested Trustees
Name of Fund	Fiscal Year-End		Choate		Dammeyer		Heagy		Kennedy		Nelson		Sonnenschein		Meadows		Whalen
Advantage Municipal Income Trust II		10/31	$	2,805	$	2,805	$	464	$	1,403	$	2,805	$	2,805	$	0	$	2,805
California Value Municipal Income Trust		10/31		1,596		1,596		284		798		1,596		1,596		0		1,596
Massachusetts Value Municipal Income Trust		10/31		555		555		116		278		555		555		0		555
Municipal Opportunity Trust		10/31		2,418		2,418		404		1,209		2,418		2,418		0		2,418
Municipal Trust		10/31		2,530		2,530		425		1,265		2,530		2,530		0		2,530
Ohio Quality Municipal Trust		10/31		756		756		146		378		756		756		0		756
Pennsylvania Value Municipal Income Trust		10/31		1,819		1,819		307		910		1,819		1,819		0		1,819
Select Sector Municipal Trust		10/31		1,185		1,185		214		593		1,185		1,185		0		1,185
Trust for Insured Municipals		10/31		964		964		178		482		964		964		0		964
Trust for Investment Grade Municipals		10/31		3,671		3,671		597		1,836		3,671		3,671		0		3,671
Trust for Investment Grade New Jersey Municipals		10/31		821		821		155		411		821		821		0		821
Trust for Investment Grade New York Municipals		10/31		1,330		1,330		234		665		1,330		1,330		0		1,330
Senior Income Trust		7/31		3,918		3,918		2,114		1,959		3,918		3,918		0		3,918
Dynamic Credit Opportunities Fund		7/31		3,227		3,227		1,657		1,614		3,227		3,227		0		3,227
Bond Fund		6/30		705		705		296		353		705		705		0		705
High Income Trust II		12/31		605		605		0		303		605		605		0		605
Total				28,905		28,905		7,591		14,457		28,905		28,905		0		28,905

E-1

ANNEX F

Cumulative Compensation Deferred from each Fund

			Independent Trustees																Interested Trustees
Name of Fund	Fiscal Year-End		Arch		Choate		Dammeyer		Heagy		Kennedy		Kerr		Nelson		Sonnenschein		Meadows		Whalen
Advantage Municipal Income Trust II		10/31	$	28,310	$	47,585	$	196,573	$	39,722	$	8,882	$	81,179	$	53,302	$	242,647	$	0	$	193,674
California Value Municipal Income Trust		10/31		42,465		33,558		213,310		28,388		5,375		104,607		37,974		263,504		0		206,216
Massachusetts Value Municipal Income Trust		10/31		0		8,320		37,387		6,941		2,114		25,811		9,193		47,028		0		36,474
Municipal Opportunity Trust		10/31		14,155		38,860		138,285		32,332		7,639		55,010		43,373		170,960		0		137,538
Municipal Trust		10/31		14,155		40,189		140,671		33,394		7,887		55,314		44,859		173,900		0		140,089
Ohio Quality Municipal Trust		10/31		14,155		14,264		90,956		12,033		2,771		51,699		16,034		112,941		0		87,679
Pennsylvania Value Municipal Income Trust		10/31		42,465		36,253		217,829		30,571		6,035		104,838		40,940		268,971		0		210,883
Select Sector Municipal Trust		10/31		14,155		20,780		103,390		17,424		4,065		52,565		23,277		128,183		0		100,771
Trust for Insured Municipals		10/31		0		13,375		48,498		11,046		3,283		26,623		14,813		60,669		0		48,199
Trust for Investment Grade Municipals		10/31		40,668		66,648		295,538		55,892		12,525		134,097		74,462		363,299		0		288,172
Trust for Investment Grade New Jersey Municipals		10/31		0		11,804		67,938		9,779		2,822		51,801		13,062		85,544		0		65,996
Trust for Investment Grade New York Municipals		10/31		28,310		26,089		156,040		22,004		4,560		78,376		29,411		192,980		0		151,015
Senior Income Trust		7/31		0		13,112		132,618		10,333		7,052		8,446		14,603		161,413		0		136,857
Dynamic Credit Opportunities Fund		7/31		0		5,576		6,140		3,722		2,928		—		6,012		6,185		0		5,754
Bond Fund		6/30		0		10,358		23,739		8,758		2,153		2,133		11,459		30,042		0		24,801
High Income Trust II		12/31		15,688		14,978		97,615		12,587		2,786		55,723		17,110		120,202		0		96,740

F-1

ANNEX G

TRUSTEE OWNERSHIP OF COMMON SHARES OF THE FUNDS

     The table below indicates the number of Common Shares of the respective Funds listed below owned by each Trustee listed below as of May 28, 2010, and the percentage of such Trustee’s Common Shares to the total Common Shares outstanding for such Fund is shown in parenthesis when such ownership individually exceeds 1% of the total Common Shares outstanding.

	Independent Trustees												Interested Trustees
	Arch		Dammeyer		Heagy		Kennedy		Sonnenschein		Woolsey		Whalen
Advantage Municipal Income Trust II(1)		500		692,500		0		0		1,385		0		1,122
California Value Municipal Income Trust		0		95,605		0		0		0		0		0
Municipal Opportunity Trust		595		23,400		198		0		1,007		0		1,931
Municipal Trust		1,126		22,135		162		0		688		0		1,539
Select Sector Municipal Trust		1,011		23,600		100		0		678		0		553
Senior Income Trust		0		24,066		0		0		1,151		0		566
Trust for Insured Municipals(2)		300		172,360		0		50		0		0		1,004
Trust for Investment Grade Municipals		637		0		58		58		247		685		1,563
Bond Fund		0		0		0		0		0		0		558
Dynamic Credit Opportunities Fund		0		0		0		0		0		0		641
High Income Trust II		216		28,178		0		30		0		0		2,599

(1)	The Trustees as a group own 1.57% of the total Common Shares outstanding of Advantage Municipal Income Trust II.
(2)	The Trustees as a group own 1.79% of the total Common Shares outstanding of Trust for Insured Municipals.

G-1

ANNEX H

TRUSTEE BENEFICIAL OWNERSHIP OF SECURITIES

     The table below indicates the aggregate dollar range of equity securities of the respective Funds listed below owned by each Trustee listed below as of May 28, 2010.

	Independent Trustees						Interested Trustees
	Arch	Dammeyer	Heagy	Kennedy	Sonnenschein	Woolsey	Whalen
Advantage Municipal Income Trust II	$1-$10,000	Over $100,000	None	None	$10,001-$50,000	None	$10,001-$50,000
California Value Municipal Trust	None	Over $100,000	None	None	None	None	None
Municipal Opportunity Trust	$1-$10,000	Over $100,000	$1-$10,000	None	$10,001-$50,000	None	$10,001-$50,000
Municipal Trust	$10,001-$50,000	Over $100,000	$1-$10,000	None	$1-$10,000	None	$10,001-$50,000
Select Sector Municipal Trust	$10,001-$50,000	Over $100,000	$1-$10,000	None	$1-$10,000	None	$1-$10,000
Senior Income Trust	None	Over $100,000	None	None	$1-$10,000	None	$1-$10,000
Trust for Insured Municipals	$1-$10,000	Over $100,000	None	$1-$10,000	None	None	$10,001-$50,000
Trust for Investment Grade Municipals	$1-$10,000	None	$1-$10,000	$1-$10,000	$1-$10,000	$1-$10,000	$10,001-$50,000
Bond Fund	None	None	None	None	None	None	$10,001-$50,000
Dynamic Credit Opportunities Fund	None	None	None	None	None	None	$1-$10,000
High Income Trust II	$1-$10,000	Over $100,000	None	$1-$10,000	None	None	$10,001-$50,000
Aggregate Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Trustee in the Invesco Fund Complex

H-1

ANNEX I

Fiscal Year End 2009 Audit and Other Fees

					Non-Audit Fees
Name of Fund	Fiscal Year-End		Audit Fees		Audit-Related(2)			Tax(4)		All Other		Total Non-Audit		Total
Advantage Municipal Income Trust II		10/31	$	31,435	$	415		$	2,750	$	0	$	3,165	$	34,600
California Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Massachusetts Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Municipal Opportunity Trust		10/31		37,945		415			2,750		0		3,165		41,110
Municipal Trust		10/31		37,945		415			2,750		0		3,165		41,110
Ohio Quality Municipal Trust		10/31		31,435		415			2,750		0		3,165		34,600
Pennsylvania Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Select Sector Municipal Trust		10/31		31,435		415			2,750		0		3,165		34,600
Trust for Insured Municipals		10/31		37,945		415			2,750		0		3,165		41,110
Trust for Investment Grade Municipals		10/31		37,945		415			2,750		0		3,165		41,110
Trust for Investment Grade New Jersey Municipals		10/31		31,435		415			2,750		0		3,165		34,600
Trust for Investment Grade New York Municipals		10/31		31,435		415			2,750		0		3,165		34,600
Senior Income Trust		7/31		80,625		18,300	(3)		3,720		0		22,020		102,645
Bond Fund		6/30		33,260		0			2,750		1,400		4,150		37,410
Dynamic Credit Opportunities Fund		7/31		79,500		0			3,720		0		3,720		83,220
High Income Trust II		12/31		51,745		830			2,750		0		3,580		55,325
Covered Entities(1)				N/A		1,100,000			0		0		1,100,000		1,100,000

N/A - Not applicable.

(1)	Covered Entities include Van Kampen Asset Management, the adviser to the Funds during the last fiscal year of such Funds (the “Former Adviser”) (excluding sub-advisers) and any entity controlling, controlled by or under common control with the Former Adviser that provides ongoing services to the Funds.
(2)	Audit-Related Fees represent assurance and related services provided that are reasonably related to the performance of the audit of the financial statements of the Covered Entities and funds advised by the Former Adviser or its affiliates, specifically attestation services provided in connection with SAS 70 reports of Covered Entities.
(3)	Audit-Related Fees represent agreed upon procedures provided that are reasonably related to the performance of the audit of the financial statements of the fund.
(4)	Tax Fees represent tax advice and compliance services provided in connection with the review of the Funds’ tax returns.

I-1

Fiscal Year End 2008 Audit and Other Fees

					Non-Audit Fees
Name of Fund	Fiscal Year-End		Audit Fees		Audit-Related(2)			Tax(4)		All Other		Total Non-Audit		Total
Advantage Municipal Income Trust II		10/31	$	37,945	$	415		$	2,750	$	0	$	3,165	$	41,110
California Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Massachusetts Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Municipal Opportunity Trust		10/31		37,945		415			2,750		0		3,165		41,110
Municipal Trust		10/31		37,945		415			2,750		0		3,165		41,110
Ohio Quality Municipal Trust		10/31		31,435		415			2,750		0		3,165		34,600
Pennsylvania Value Municipal Income Trust		10/31		31,435		415			2,750		0		3,165		34,600
Select Sector Municipal Trust		10/31		31,435		415			2,750		0		3,165		34,600
Trust for Insured Municipals		10/31		37,945		415			2,750		0		3,165		41,110
Trust for Investment Grade Municipals		10/31		37,945		415			2,750		0		3,165		41,110
Trust for Investment Grade New Jersey Municipals		10/31		31,435		415			2,750		0		3,165		34,600
Trust for Investment Grade New York Municipals		10/31		31,435		415			2,750		0		3,165		34,600
Senior Income Trust		7/31		82,830		17,850	(3)		3,250		0		21,100		103,930
Bond Fund		6/30		35,015		0			1,650		0		1,650		36,665
Dynamic Credit Opportunities Fund		7/31		81,255		0			3,000		0		3,000		84,255
High Income Trust II		12/31		51,745		830			1,650		0		2,480		54,225
Covered Entities(1)				N/A		215,000			0		0		215,000		215,000

N/A - Not applicable.

(1)	Covered Entities include Van Kampen Asset Management, the adviser to the Funds during the last fiscal year of such Funds (the “Former Adviser”) (excluding sub-advisers) and any entity controlling, controlled by or under common control with the Former Adviser that provides ongoing services to the Funds.
(2)	Audit-Related Fees represent assurance and related services provided that are reasonably related to the performance of the audit of the financial statements of the Covered Entities and funds advised by the Former Adviser or its affiliates, specifically attestation services provided in connection with a SAS 70 report.
(3)	Audit-Related Fees represent agreed upon procedures provided that are reasonably related to the performance of the audit of the financial statements of the fund.
(4)	Tax Fees represent tax advice and compliance services provided in connection with the review of the Funds’ tax returns.

I-2

ANNEX J

To the knowledge of the Funds, the following table shows the holders of 5% or more of a Fund’s common shares as of May 28, 2010.

		Approximate
		Percentage of
		Shares Owned on
Fund	Name and Address of Holder	May 28, 2010
Trust for Investment Grade Municipals	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	6.7%
Municipal Opportunity Trust	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	5.7%
California Value Municipal Income Trust	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	8.8%
Advantage Municipal Income Trust II	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	6.6%
Senior Income Trust	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	16.2%
Bond Fund	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	11.2%
Dynamic Credit Opportunities Fund	First Trust 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187	16.0%

To the knowledge of the Funds, the following table shows the holders of 5% or more of a Fund’s Auction Preferred Shares (APS) as of May 28, 2010.

		Approximate
		Percentage of
		APS Owned on
Fund	Name and Address of Holder	May 28, 2010
Municipal Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	21.4%
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	6.3%

J-1

		Approximate
		Percentage of
		APS Owned on
Fund	Name and Address of Holder	May 28, 2010
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	8.2%
Ohio Quality Municipal Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	35.5%
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	5.2%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	15.62%
Trust for Insured Municipals	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	17.7%
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	10.3%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	10.1%
Trust for Investment Grade Municipals	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	21.2%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	5.7%
Trust of Investment Grade New York Municipals	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	31.8%

J-2

		Approximate
		Percentage of
		APS Owned on
Fund	Name and Address of Holder	May 28, 2010
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	14.9%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	7.6%
Trust for Investment Grade New Jersey Municipals	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	27.0%
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	25.0%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	11.5%
Massachusetts Value Municipal Income Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	16.7%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	38.31%
California Value Municipal Income Trust	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	13.1%
Pennsylvania Value Municipal Income Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	29.9%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	11.5%

J-3

		Approximate
		Percentage of
		APS Owned on
Fund	Name and Address of Holder	May 28, 2010
Municipal Opportunity Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	23.6%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	12.1%
Advantage Municipal Income Trust II	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	15.03%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	9.1%
Select Sector Municipal Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	44.9%
	UBS AG Bahnhofstrasse 45 PO Box CH-8021 Zurich, Switzerland	11.7%
Senior Income Trust	Bank of America Corporation 100 North Tryon Street Charlotte, North Carolina 28255	8.4%
	Citigroup, Inc. 399 Park Avenue New York, NY 10043	29.9%

J-4

Invesco
11 Greenway Plaza
Houston, Texas 77046-1173
www.invesco.com

Member FINRA/SIPC.

x  PLEASE MARK

    VOTES AS IN

    THIS EXAMPLE

FORM OF PROXY

INVESCO VAN KAMPEN XXXXX TRUST

JOINT ANNUAL MEETING OF SHAREHOLDERS

PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned holder of XXXXXX Shares of INVESCO VAN KAMPEN XXXXX TRUST, a XXXXX business trust (the “Fund”), hereby appoints Colin D. Meadows, Sheri Morris and John M. Zerr and each of them or their respective designees, with full power of substitution and revocation, as proxies to represent the undersigned at the Joint Annual Meeting of Shareholders to be held at 11 Greenway Plaza, Suite 2500, Houston, TX 77046-1173, on July 16, 2010 at 3:00 p.m., and any and all adjournments thereof (the “Meeting”), and thereat to vote all XXXXX Shares which the undersigned would be entitled to vote, with all powers the undersigned would possess if personally present, in accordance with the instructions indicated herein.

1.	Authority to vote for the election as Trustees, the nominees named below: Class X Trustees: (01) XXXXX, (02) XXXXX (03) XXXXX and (04) XXXXX	FOR ALL o	WITHHOLD o	FOR ALL EXCEPT o
	To withhold authority to vote for any individual nominee, check “For All Except” and write the nominee’s name on the line below.
2.	To transact such other business as may properly come before the Meeting.

Important Notice Regarding the Availability of Proxy Materials for the Meeting of Shareholders to be held on July 16, 2010. The following material is available at https://www.proxy-direct.com/[          ]:

Proxy Statement

If more than one of the proxies, or their substitutes, are present at the Meeting or any adjournment thereof, they jointly (or, if only one is present and voting then that one) shall have authority and may exercise all powers granted hereby. This Proxy, when properly executed, will be voted in accordance with the instructions marked by the undersigned on the reverse side.If no specification is made, this Proxy will be voted “FOR” the proposal described herein and in the discretion of the proxies upon such other business as may properly come before the Meeting.

The undersigned hereby acknowledges receipt of the accompanying Notice of Meeting and Joint Proxy Statement for the Meeting to be held on July 16, 2010.

PLEASE VOTE, DATE AND SIGN ON REVERSE SIDE AND RETURN PROMPTLY IN ENCLOSED ENVELOPE
HAS YOUR ADDRESS CHANGED?		Date ­ ­
	Shareholder signature
		Date ­ ­
	Co-owner signature (if applicable)
	Mark box at right if an address change has been noted on the reverse side of this card.  o
	Please sign this Proxy exactly as your name or names appear on the books of the Fund. When signing as attorney, trustee, executor, administrator, custodian, guardian or corporate officer, please give full title. If common shares are held jointly, each holder must sign.