<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>7
<FILENAME>h86357ex77q1e.txt
<DESCRIPTION>EX-99.77Q1
<TEXT>
                                                                Sub-Item 77Q1(e)

                                 AMENDMENT NO. 1
                                       TO
                          INVESTMENT ADVISORY AGREEMENT

   THIS Amendment dated January 23, 2012, amends the Investment Advisory
Agreement (the "Agreement") dated June 1, 2010, by and between the registered
investment companies as set forth on Appendix I (each, a "Fund" and
collectively, the "Funds"), as the same may be amended from time to time, and
Invesco Advisers, Inc., a Delaware corporation (the "Adviser").

RECITALS

   WHEREAS, the parties agree to amend the Agreement to (i) change the name of
Invesco California Insured Municipal Income Trust, Invesco Insured California
Municipal Securities, Invesco Insured Municipal Bond Trust, Invesco Insured
Municipal Income Trust, Invesco Insured Municipal Securities and Invesco Insured
Municipal Trust to Invesco California Municipal Income Trust, Invesco California
Municipal Securities, Invesco Value Municipal Bond Trust, Invesco Value
Municipal Income Trust, Invesco Value Municipal Securities and Invesco Value
Municipal Trust, respectively, and to (ii) remove Invesco Prime Income Trust;

   NOW THEREFORE, the parties agree as follows:

      1. Appendix I and II are deleted in their entirety and replaced with the
following:

                                   "APPENDIX I
                            FUNDS AND EFFECTIVE DATES

   All of the Funds referenced below are organized as Massachusetts business
                                    trusts.

<TABLE>
<CAPTION>
NAME OF FUND                                       EFFECTIVE DATE OF ADVISORY AGREEMENT
------------------------------------------------   ------------------------------------
<S>                                                <C>
Invesco California Municipal Income Trust                    June 1, 2010

Invesco California Quality Municipal Securities              June 1, 2010

Invesco California Municipal Securities                      June 1, 2010

Invesco Value Municipal Bond Trust                           June 1, 2010

Invesco Value Municipal Income Trust                         June 1, 2010

Invesco Value Municipal Securities                           June 1, 2010

Invesco Value Municipal Trust                                June 1, 2010

Invesco Municipal Income Opportunities Trust                 June 1, 2010

Invesco Municipal Income Opportunities Trust II              June 1, 2010

Invesco Municipal Income Opportunities Trust III             June 1, 2010

Invesco Municipal Premium Income Trust                       June 1, 2010

Invesco New York Quality Municipal Securities                June 1, 2010

Invesco Quality Municipal Income Trust                       June 1, 2010

Invesco Quality Municipal Investment Trust                   June 1, 2010

Invesco Quality Municipal Securities                         June 1, 2010
</TABLE>

<PAGE>

                                   APPENDIX II
                           COMPENSATION TO THE ADVISER

      Each Fund shall pay the Adviser, out of the assets of the Fund, as full
      compensation for all services rendered, an advisory fee for such Fund set
      forth below.

<TABLE>
<CAPTION>
FUND                                                                ANNUAL RATE
------------------------------------------------  --------------------------------------------------
<S>                                               <C>
Invesco California Municipal Income Trust         0.27% as a percentage of average weekly net assets*

Invesco California Quality Municipal Securities   0.27% as a percentage of average weekly net assets*

Invesco California Municipal Securities           0.27% as a percentage of average weekly net assets

Invesco Value Municipal Bond Trust                0.27% as a percentage of average weekly net assets*

Invesco Value Municipal Income Trust              0.27% as a percentage of average weekly net assets*

Invesco Value Municipal Securities                0.27% as a percentage of average weekly net assets

Invesco Value Municipal Trust                     0.27% as a percentage of average weekly net assets*

Invesco Municipal Income Opportunities Trust      0.50% as a percentage of average weekly net assets

Invesco Municipal Income Opportunities Trust II   0.50% as a percentage of average weekly net assets

Invesco Municipal Income Opportunities Trust III  0.50% as a percentage of average weekly net assets

Invesco Municipal Premium Income Trust            0.40% as a percentage of average weekly net assets*

Invesco New York Quality Municipal Securities     0.27% as a percentage of average weekly net assets*

Invesco Quality Municipal Income Trust            0.27% as a percentage of average weekly net assets*

Invesco Quality Municipal Investment Trust        0.27% as a percentage of average weekly net assets*

Invesco Quality Municipal Securities              0.27% as a percentage of average weekly net assets*"
</TABLE>

------------
*     For the purpose of calculating the advisory fee, the liquidation
      preference of any Preferred Shares issued by the Fund will not be deducted
      from the Fund's total assets. In addition, an amount up to the aggregate
      amount of any other borrowings may be included in the Fund's advisory fee
      calculation.

                                       2
<PAGE>

   IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers on the day and year first
written above.

                                    ON BEHALF OF EACH FUND LISTED IN APPENDIX I

Attest:

   /s/ Peter Davidson               By: /s/ John M. Zerr
---------------------------------   ------------------------------------
       Assistant Secretary
                                    Name: John M. Zerr
(SEAL)                              Title: Senior Vice President

Attest:                                         INVESCO ADVISERS, INC.

   /s/ Peter Davidson               By: /s/ Todd L. Spillane
---------------------------------   ------------------------------------
       Assistant Secretary
                                    Name: Todd L. Spillane
(SEAL)                              Title: Senior Vice President

                                       3
<PAGE>

</TEXT>
</DOCUMENT>
