Van Kampen Closed-End Funds to Seek Shareholder Approval of New Investment Advisory Agreements with Invesco Ltd.
25 Enero 2010 - 8:06AM
Business Wire
On October 19, 2009, Morgan Stanley, the parent company of Van
Kampen Investments Inc., announced that it has reached a definitive
agreement to sell substantially all of its retail asset management
business to Invesco Ltd. ("Invesco"). The transaction
(“Transaction”) includes a sale of the part of the asset management
business that advises funds, including the Van Kampen family of
funds. The Transaction is subject to certain approvals and other
conditions to closing, and is currently expected to close in
mid-2010.
The affected closed-end funds, each a "Fund," are Van Kampen
Advantage Municipal Income Trust II (NYSE: VKI), Van Kampen Bond
Fund (NYSE: VBF), Van Kampen Dynamic Credit Opportunities Fund
(NYSE: VTA), Van Kampen Municipal Opportunity Trust (NYSE: VMO),
Van Kampen Municipal Trust (NYSE: VKQ), Van Kampen Select Sector
Municipal Trust (NYSE: VKL), Van Kampen Trust for Insured
Municipals (NYSE: VIM), Van Kampen High Income Trust II (NYSE:
VLT), Van Kampen Trust for Investment Grade Municipals (NYSE: VGM),
Van Kampen California Value Municipal Income Trust (NYSE: VCV), Van
Kampen Massachusetts Value Municipal Income Trust (NYSE: VMV), Van
Kampen Ohio Quality Municipal Trust (NYSE: VOQ), Van Kampen
Pennsylvania Value Municipal Income Trust (NYSE: VPV), Van Kampen
Senior Income Trust (NYSE: VVR), Van Kampen Trust for Investment
Grade New Jersey Municipals (NYSE: VTJ) and Van Kampen Trust for
Investment Grade New York Municipals (NYSE: VTN).
Under the Investment Company Act of 1940, the closing of the
Transaction will cause each Fund’s current investment advisory
agreement with Van Kampen Asset Management, a subsidiary of Van
Kampen Investments Inc., to terminate. In connection with the
Transaction, each Fund’s Board of Trustees (together the “Boards”)
has approved a new investment advisory agreement (which includes a
master subadvisory agreement) with Invesco Advisers, Inc., a
subsidiary of Invesco. The Board of Van Kampen Dynamic Credit
Opportunities Fund has also approved a new investment subadvisory
agreement between Invesco Advisers, Inc. and Avenue Europe
International L.P. The new advisory agreement for each Fund and the
subadvisory agreement for Van Kampen Dynamic Credit Opportunities
Fund (collectively, the “Agreements”) are subject to shareholder
approval. The Agreements will be presented to shareholders of the
Funds at a special meeting of shareholders.
Van Kampen Investments Inc. is one of the nation’s largest
investment management companies, with more than $99 billion in
assets under management or supervision as of December 31, 2009.
With roots in money management dating back to 1927, Van Kampen has
helped more than four generations of investors work toward their
financial goals. For more information, visit Van Kampen’s web site
at www.vankampen.com.
Copyright ©2010 Van Kampen Funds Inc. All rights reserved.
Member FINRA/SIPC.
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