Company: VMO
Filing Date: 2025-05-02
Form Type: N-CSR
Source: 0001193125-25-111525
Chunk: 18

Company: Invesco Municipal Opportunity Trust
Filing Date: 2025-05-02
Form: N-CSR
Chunk 18
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 purpose of leverage (whether or not such borrowed amounts are reflected in the Trust’s financial statements for purposes of GAAP). Under the terms of a master sub-advisoryagreement between the Adviser and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the “Affiliated Sub-Advisers”)the Adviser, not the Trust, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s)that provide(s) discretionary investment management services to the Trust based on the percentage of assets allocated to such Affiliated Sub-Adviser(s). The Adviser has contractually agreed, through at least August 31, 2026, to waive the advisory fee payable by the Trust in an amount equal to the advisory fees earned on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Trust of uninvested cash in such affiliated money market funds. For the year ended February 28, 2025, the Adviser waived advisory fees of $3,183. The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Trust has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Trust. For the year ended February 28, 2025, expenses incurred under this agreement are shown in the Statement of Operations as Administrative services fees.Invesco has entered into a sub-administrationagreement whereby State Street Bank and Trust Company (“SSB”) serves as fund accountant and provides certain administrative services to the Trust. Pursuant to a custody agreement with the Trust, SSB also serves as the Trust’s custodian. Certain officers and trustees of the Trust are officers and directors of Invesco. NOTE 3–Additional Valuation Information GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices