HOUSTON, July 22, 2011 /PRNewswire/ -- Invesco Van Kampen Dynamic Credit Opportunities Fund (VTA) (the "Fund") announced today that Invesco Advisers, Inc. ("Invesco") and its affiliates will assume sole responsibility for management of the Fund portfolio. Invesco and Avenue Europe International Management, L.P. ("Avenue") will end their investment sub-advisory agreement relating to the Fund effective September 19, 2011 (or such other date as may be mutually agreed by Invesco and Avenue). There will be no change in the management fee that the Fund pays to Invesco.

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In its role as sub-adviser to the Fund, Avenue has been responsible primarily for managing the portion of the Fund's portfolio allocated for investment in securities of European issuers and other Euro-denominated investments. Invesco and its affiliates have extensive experience in European credit markets, including dedicated investment professionals in London who will support the Fund's portfolio management team. The Invesco Senior Loan Team manages $18 billion in Senior Loan assets in over 30 funds including over $3.5 billion in European Loan Portfolios.

The Invesco Senior Loan team is comprised of 31 investment professionals dedicated to the Senior Loan asset class with a five-person Senior Investment Committee each averaging more than 20 years of experience. Additionally, Invesco has dedicated investment professionals in London who can support the Fund's portfolio management team. The Senior Loan team in London includes five investment professionals and an operations specialist, each with over 10 years of experience.

Invesco believes that by unifying management of the Fund's portfolio under Invesco, as investment adviser, and its affiliates, the portfolio management team will be better able to apply a single cohesive investment philosophy and investment process in selecting and allocating the Fund's investments more efficiently among different categories of investments and different parts of the world during different periods in the credit cycle (i.e., the cycle between positive economic environments and less positive economic environments for credit securities).

The portfolio managers who will remain jointly and primarily responsible for the day-to-day management of the Fund will be:

Scott Baskind, portfolio manager, is manager of the Fund. He has been responsible for the Fund since 2010. Mr. Baskind has been associated with Invesco or its investment advisory affiliates since 1999. He earned a B.S. in business administration, with majors in finance and management information systems, from the University at Albany, State University of New York.

Greg Stoeckle, portfolio manager, is manager of the Fund. He has been responsible for the Fund since 2010. Mr. Stoeckle has been associated with Invesco or its investment advisory affiliates since 1999. He earned a B.S. in applied mathematics and economics from Ursinus College and an M.B.A. in finance from St. Joseph's University.

Phil Yarrow, Chartered Financial Analyst, portfolio manager, is manager of the Fund. Mr. Yarrow was associated with Van Kampen Asset Management or its investment advisory affiliates in an investment capacity from 2005 until joining Invesco in 2010. He has managed the Fund since 2007. He earned a B.S. in mathematics and economics from the University of Nottingham and an M.B.A. in finance from Northwestern University.

"By bringing the mandate completely in-house, we will now be able to fully leverage the breadth of Invesco's considerable credit research and proprietary modeling resources to coordinate and optimize investment allocations within the fund more effectively," said Mr. Stoeckle.

The Fund will continue to pursue its primary investment objective to seek a high level of current income, and its secondary objective of capital appreciation. No changes are being made to the Fund's overall investment policies or restrictions. However, as a result of Avenue ceasing to act as investment sub-adviser and consistent with the Fund's broad investment mandate, the investment restrictions described as the "Avenue Credit Thresholds" in the investment sub-advisory agreement and the Fund's prospectus will no longer apply to the portion of the Fund formerly managed by Avenue.

About Invesco

Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Certain affiliates of Invesco Advisers, Inc. are also registered investment advisers and may provide subadvisory services pursuant to a master investment subadvisory agreement with Invesco Advisers, Inc. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for its STIC Global Funds. Both are wholly owned, indirect subsidiaries of Invesco Ltd.

*All information as of 6/30/2011

The Chartered Financial Analyst® (CFA®) designation is globally recognized and attests to a charterholder's success in a rigorous and comprehensive study program in the field of investment management and research analysis.

SOURCE Invesco