A Prospectus Supplement filing for Invesco Tax-Exempt Cash Fund says, "On September 18, 2019, the Board of Trustees of AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds) (the 'Board') approved a Plan of Liquidation and Dissolution (the 'Plan'), which authorizes the termination, liquidation and dissolution of the Fund. In order to effect such liquidation, the Fund will close to investments by new accounts after the close of business on September 20, 2019. Existing shareholders will continue to be able to invest in the Fund until the Fund is liquidated as described below. The Plan is not subject to the approval of shareholders of the Fund." It adds, "To prepare for the closing and liquidation of the Fund, the Fund's portfolio managers will likely increase the Fund's assets held in cash and similar instruments in order to pay for Fund expenses and meet redemption requests. As a result, the Fund is expected to deviate from its stated investment strategies and policies and will no longer be managed to meet its investment objective. The Fund will be liquidated on or before October 30, 2019 (the 'Liquidation Date'). On or promptly after the Liquidation Date, the Fund will make a liquidating distribution to each remaining shareholder equal to the shareholder’s proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund’s shares held by the shareholder, and the Fund will be dissolved. If necessary, the Fund will declare and pay a dividend to distribute to the Fund's shareholders all of the Fund's remaining investment company taxable income and all of the Fund's net capital gain, if any (after reduction for any capital loss carry-forward) and any additional amounts necessary to avoid any excise tax. Alternatively, the Fund may treat the amounts distributed pursuant to the Plan as being paid as dividends as part of the liquidating distributions. The liquidation may be a taxable event to shareholders. Please consult your tax advisor about the potential tax consequences. Shareholders of the Fund may redeem their shares at any time prior to the Liquidation Date." For more, see: "Oppenheimer Funds Now Invesco Oppenheimer; Dreyfus Keeping Name" (6/3/19), "Aberdeen, Fido Make European Reform Changes; Oppenheimer Merging" (3/1/19) and "Invesco Buying OppenheimerFunds; DWS ESG, Northern's RAVI Advertise" (10/22/18).

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