Company: VVR
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271170
Chunk: 35

Company: Invesco Senior Income Trust
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 35
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 and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusivefee structures, which are not easily un-bundled. The Board also considered the services that may be provided by the Affiliated Sub-Adviserspursuant to the sub-advisorycontracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Adviserspursuant to the sub-advisorycontracts.

The Board noted that Invesco Advisers retains overall responsibility for, and provides services to, sub-advisedInvesco Funds, including oversight of the Affiliated Sub-Advisersas well as the additional services described herein other than day-to-dayportfolio management.

| D. | Economies of Scale and Breakpoints |

The Board noted that most closed-endfunds do not have fund level breakpoints because closed-endfunds generally do not experience substantial asset growth after the initial public offering. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that the Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers’ ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers’ management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

| E. | Profitability and Financial Resources |

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fundbasis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco