<SEC-DOCUMENT>0000950123-11-092424.txt : 20111027
<SEC-HEADER>0000950123-11-092424.hdr.sgml : 20111027
<ACCEPTANCE-DATETIME>20111027144706
ACCESSION NUMBER:		0000950123-11-092424
CONFORMED SUBMISSION TYPE:	NSAR-A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110831
FILED AS OF DATE:		20111027
DATE AS OF CHANGE:		20111027
EFFECTIVENESS DATE:		20111027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco Van Kampen Advantage Municipal Income Trust II
		CENTRAL INDEX KEY:			0000908993
		IRS NUMBER:				367041986
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07868
		FILM NUMBER:		111161479

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL ADVANTAGE MUNICIPAL INCOME TR II
		DATE OF NAME CHANGE:	19960102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN MERRITT ADVANTAGE MUNICIPAL INCOME TRUST II
		DATE OF NAME CHANGE:	19930712
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-A
<SEQUENCE>1
<FILENAME>h85183answer.fil
<DESCRIPTION>SEMI ANNUAL REPORT
<TEXT>
<PAGE>      PAGE  1
000 A000000 08/31/2011
000 C000000 0000908993
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 INVESCO VAN KAMPEN ADV MUNI INC TRUST II
001 B000000 811-07868
001 C000000 8002415477
002 A000000 1555 PEACHTREE ST., NE
002 B000000 ATLANTA
002 C000000 GA
002 D010000 30309
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005  000000 N
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008 B000001 A
008 C000001 801-33949
008 D010001 Atlanta
008 D020001 GA
008 D030001 30309
008 A000002 Invesco Asset Management Deutschland GmbH
008 B000002 S
008 C000002 801-67712
008 D010002 Frankfurt
008 D050002 Germany
008 D060002 60313
008 A000003 Invesco Asset Management Limited
008 B000003 S
008 C000003 801-50197
008 D010003 London
008 D050003 United Kingdom
008 D060003 EC2A1AG
008 A000004 Invesco Asset Management (Japan) Ltd.
008 B000004 S
008 C000004 801-52601
008 D010004 Tokyo
008 D050004 Japan
008 D060004 105-6025
008 A000005 Invesco Australia Limited
008 B000005 S
008 C000005 801-68638
008 D010005 Melbourne
<PAGE>      PAGE  2
008 D050005 Australia
008 D060005 3000
008 A000006 Invesco Hong Kong Limited
008 B000006 S
008 C000006 801-47856
008 D010006 HONG KONG
008 D050006 HONG KONG
008 A000007 Invesco Senior Secured Management, Inc.
008 B000007 S
008 C000007 801-38119
008 D010007 NEW YORK
008 D020007 NY
008 D030007 10036
008 D040007 2727
008 A000008 Invesco Canada Ltd.
008 B000008 S
008 C000008 801-62166
008 D010008 TORONTO
008 D050008 CANADA
008 D060008 M2N 6X7
010 A000001 Invesco Management Group Inc.
010 B000001 33-67866
010 C010001 Houston
010 C020001 TX
010 C030001 77046
012 A000001 COMPUTERSHARE TRUST COMPANY, N.A.
012 B000001 85-11340
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 3078
013 A000001 PricewaterhouseCoopers, LLP
013 B010001 HOUSTON
013 B020001 TX
013 B030001 77002
013 B040001 5678
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02111
015 E010001 X
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019 B000000  161
019 C000000 INVESCOFDS
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022 A000001 J.P. MORGAN SECURITIES INC.
022 B000001 13-3299429
022 C000001     26624
022 D000001     17065
<PAGE>      PAGE  3
022 A000002 CITIGROUP GLOBAL MARKETS INC.
022 B000002 11-2418191
022 C000002     15912
022 D000002     13214
022 A000003 PNC CAPITAL MARKETS LLC
022 B000003 20-3719138
022 C000003     15000
022 D000003     10000
022 A000004 WILLIAM BLAIR AND CO. LLC
022 B000004 36-2214610
022 C000004      7980
022 D000004      7000
022 A000005 PIPER JAFFRAY & CO.
022 B000005 41-0953246
022 C000005      7200
022 D000005      6735
022 A000006 JEFFERIES & COMPANY, INC.
022 B000006 95-2622900
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022 A000007 MORGAN STANLEY & CO., INC.
022 B000007 13-2655998
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SIGNATURE   KELLI GALLEGOS
TITLE       ASST. VP & TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77C VOTES
<SEQUENCE>2
<FILENAME>h85183ex77c.txt
<DESCRIPTION>EX-99.77C
<TEXT>
                                                                   Sub-Item 77C

              SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

             INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II

An Annual Meeting ("Meeting") of Shareholders of Invesco Van Kampen Advantage
Municipal Income Trust II was held on June 17, 2011. The Meeting on June17, 2011
was held for the following purpose:

(1)  Elect four Class III Trustees, three by the holders of Common Shares and
     one by the holders of the Preferred Shares, each of whom will serve for a
     three year term or until a successor has been duly elected and qualified.

The results of the voting on the above matter were as follows (Common Shares
only):

<TABLE>
<CAPTION>
                                                Votes
Matter                       Votes For        Withheld
----------------------       ----------       ---------
<S>                          <C>              <C>
(1)   R. Craig Kennedy       39,425,954       1,220,668
      Jack E. Nelson         39,420,538       1,226,084
      Colin D. Meadows       39,466,977       1,179,645
</TABLE>

With respect to the election of a Class III Trustee by the holders of Preferred
Shares, the Meeting was adjourned until July 19, 2011, in order to solicit
further shareholder votes. The Meeting on July 19, 2011 was held for the
following purpose:

(1)  Elect four Class III Trustees, three by the holders of Common Shares and
     one by the holders of the Preferred Shares, each of whom will serve for a
     three year term or until a successor has been duly elected and qualified.

The results of the voting on the above matter were as follows (Preferred Shares
only):

<TABLE>
<CAPTION>
                                                           Votes
Matter                                 Votes For          Withheld
-----------------------------          ---------          --------
<S>                                    <C>                <C>
(1)    Hugo F. Sonnenschein(P)         5,065              1,696
</TABLE>

----------
(P) Election of trustee by preferred shareholders only.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>3
<FILENAME>h85183ex77e.txt
<DESCRIPTION>EX-99.77E
<TEXT>
                                                                   SUB-ITEM 77E

             INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II

                               LEGAL PROCEEDINGS

SETTLED REGULATORY ENFORCEMENT ACTIONS AND INVESTIGATIONS RELATED TO MARKET
TIMING

     On October 8, 2004, Invesco Advisers, Inc. (Invesco), successor by merger
to Invesco Aim Advisors, Inc. and INVESCO Funds Group, Inc. (IFG), both former
investment advisers, along with Invesco Aim Distributors, n/k/a Invesco
Distributors, Inc. (Invesco Distributors) reached final settlements with certain
regulators, including the Securities and Exchange Commission (SEC), the New York
Attorney General and the Colorado Attorney General, to resolve civil enforcement
actions and/or investigations related to market timing and related activity in
the AIM Funds (n/k/a the Invesco Funds), including those formerly advised by
IFG. As part of the settlements, a $325 million fair fund ($110 million of which
is civil penalties) was created to compensate shareholders harmed by market
timing and related activity in funds formerly advised by IFG. Additionally,
Invesco and Invesco Distributors created a $50 million fair fund ($30 million of
which is civil penalties) to compensate shareholders harmed by market timing and
related activity in funds advised by Invesco, which was done pursuant to the
terms of the settlement. The methodology of the fair funds distributions was
determined by Invesco's independent distribution consultant (IDC Plan), in
consultation with Invesco and the independent trustees of the Invesco Funds, and
approved by the SEC on May 23, 2008.

     The IDC Plan provides for distribution to all eligible investors for the
periods spanning January 1, 2000 through July 31, 2003 (for the IFG Fair Fund)
and January 1, 2001 through September 30, 2003 (for the AIM Fair Fund), their
proportionate share of the applicable Fair Fund to compensate such investors for
injury they may have suffered as a result of market timing in the affected
funds. The IDC Plan includes a provision for any residual amounts in the Fair
Funds to be distributed in the future to the affected funds. Further details
regarding the IDC Plan and distributions thereunder are available on Invesco's
Web site, available at http://www.invesco.com/us.

     On August 30, 2005, the West Virginia Office of the State Auditor -
Securities Commission (WVASC) issued a Summary Order to Cease and Desist and
Notice of Right to Hearing to Invesco and Invesco Distributors (collectively,
Invesco) (Order No. 05-1318). The WVASC made findings of fact that Invesco
allegedly entered into certain arrangements permitting market timing of the
Invesco Funds and failed to disclose these arrangements in the prospectuses for
such Funds, and conclusions of law to the effect that Invesco violated the West
Virginia securities laws. The WVASC ordered Invesco to cease any further
violations and sought to impose monetary sanctions, including restitution to
affected investors, disgorgement of fees, reimbursement of investigatory,
administrative and legal costs and an "administrative assessment" to be
determined by the Commissioner. Invesco is not aware of any further efforts by
WVASC to pursue the prosecution of this matter. Invesco settled all other
regulatory investigations related to market timing, resulting in: 1) affected
shareholders receiving restitution; 2) Invesco paying disgorgement and civil
penalties; and 3) Invesco taking remedial actions to prevent market timing.
Accordingly, Invesco considers this matter resolved.


OTHER  ACTIONS  INVOLVING INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II

CLIFFORD T. ROTZ, JR., DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN
KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II, ROBERT FAST, DERIVATIVELY ON BEHALF
OF NOMINAL DEFENDANT INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST, GENE
TURBAN, DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN KAMPEN MUNICIPAL
TRUST, LEON MCDERMOTT, DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN
KAMPEN HIGH INCOME TRUST II AND MARILYN MORRISON, HARRY SULESKI AND JOHN
JOHNSON, DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN KAMPEN SENIOR
INCOME TRUST, PLAINTIFF, V. VAN KAMPEN ASSET MANAGEMENT, EDWARD C. WOOD, III,
STUART N. SCHULDT, JOHN L. SULLIVAN, STEFANI V. CHANG YU, KEVIN KLINGERT,

                                        1
<PAGE>

                                                                    SUB-ITEM 77E

JERRY W. MILLER, RONALD E. ROBISON, AMY R. DOBERMAN, DENNIS SHEA, THOMAS BYRON,
ROBERT J. STRYKER, ROBERT W. WIMMEL, WILLIAM BLACK, MARK PARIS, WAYNE D. GODLIN,
CHRISTINA JAMIESON, ANDREW FINDLING, DENNIS M. SCANEY, GERALD FOGARTY, JEFFREY
SCOTT, PHILIP YARROW, STEVEN K. KREIDER, HOWARD TIFFEN AND MORGAN STANLEY,
DEFENDANTS, AND INVESCO VAN KAMPEN ADVTANTAGE MUNICIPAL INCOME TRUST II, INVESCO
VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST, INVESCO VAN KAMPEN MUNICIPAL TRUST,
INVESCO VAN KAMPEN HIGH INCOME TRUST II AND INVESCO VAN KAMPEN SENIOR INCOME
TRUST, NOMINAL DEFENDANTS. On January 17, 2011, a Consolidated Amended
Shareholder Derivative Complaint was filed in the Supreme Court of New York, New
York County, on behalf of Invesco Van Kampen High Income Trust II, Invesco Van
Kampen Advantage Municipal Income Trust II, Invesco Van Kampen Municipal
Opportunity Trust, Invesco Van Kampen Municipal Trust and Invesco Van Kampen
Senior Income Trust (the Trusts) against Van Kampen Asset Management, Morgan
Stanley and certain current and former executive officers of the Trusts
(collectively, the Defendants) alleging that they breached their fiduciary
duties to common shareholders by causing the Trusts to redeem Auction Rate
Preferred Securities (ARPS) at their liquidation value. Specifically, the
shareholders claim that the Board and officers had no obligation to provide
liquidity to the ARPS shareholders, the redemptions were improperly motivated to
benefit the prior adviser by preserving business relationships with the ARPS
holders, i.e., institutional investors, and the market value and fair value of
the ARPS were less than par at the time they were redeemed. The Complaint
alleges that the redemption of the ARPS occurred at the expense of the Trusts
and their common shareholders. This Complaint amends and consolidates two
separate complaints that were filed by Clifford T. Rotz, Jr., Robert Fast and
Gene Turban on July 22, 2010, and by Harry Suleski, Leon McDermott, Marilyn
Morrison and John Johnson on August 3, 2010. Each of the Trusts initially
received a demand letter from the plaintiffs on April 8, 2010. Plaintiffs seek
judgment that: 1) orders Defendants to refrain from redeeming any ARPS at their
liquidation value using Trust assets; 2) awards monetary damages against all
Defendants, individually, jointly or severally, in favor of the Trusts, for all
losses and damages allegedly suffered as a result of the redemptions of ARPS at
their liquidation value; 3) grants appropriate equitable relief to remedy the
Defendants' breaches of fiduciary duties; and 4) awards to Plaintiffs the costs
and disbursements of the action. The Board formed a Special Litigation Committee
(SLC) to investigate these claims and make a recommendation to the Board
regarding whether maintenance of these claims is in the best interests of the
Trusts. Expert reports on behalf of Plaintiffs and Defendants were generated and
presented to the SLC for review. After reviewing the findings of the SLC's
evaluation of the claims, the Board announced on July 12, 2011, that it had
adopted the SLC's recommendation to seek dismissal of the complaint. The parties
agreed to a third amendment to the Stipulation and Proposed Order for Stay of
Litigation, which rescheduled the date the stay was to be lifted to September
20, 2011. On Sept. 2, 2011, the Plaintiffs determined to proceed with litigation
after reviewing the SLC report. The status hearing has been rescheduled for
October 3, 2011.

At  the  present time, management of Invesco and the Invesco Funds are unable to
estimate  the  impact,  if any, that the outcome of the matters described herein
may  have  on  Invesco,  Invesco  Distributors  or  the  Invesco  Funds.

                                        2
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
