11/01/2024 | Press release | Distributed by Public on 11/01/2024 11:54
Item 1. |
Reports to Stockholders
|
Semi-Annual Report to Shareholders
|
August 31, 2024
|
2
|
Trust Performance
|
|
2
|
Share Repurchase Program Notice
|
|
3
|
Dividend Reinvestment Plan
|
|
4
|
Schedule of Investments
|
|
10
|
Financial Statements
|
|
15
|
Notes to Financial Statements
|
|
20
|
Approval of Investment Advisory and Sub-Advisory Contracts
|
|
22
|
Proxy Results
|
Performance summary
|
||||
Cumulative total returns, 2/29/24 to 8/31/24
|
||||
Trust at NAV
|
2.45 | % | ||
Trust at Market Value
|
11.57 | |||
S&P Municipal Bond Index
▼
(Broad Market Index)
|
1.94 | |||
S&P Municipal Bond New York 5+ Year Investment Grade Index
▼
(Style-Specific
Index)
|
1.60 | |||
Market Price Discount to NAV as of 8/31/24
|
-5.23 | |||
Source(s):
▼
RIMES Technologies Corp.
|
||||
The performance data quoted represent past performance and cannot guarantee future results; current performance may be lower or higher. Investment return, net asset value (NAV) and common share market price will fluctuate so that you may have a gain or loss when you sell shares. Please visit invesco.com/us for the most recent
month-end
performance. Performance figures reflect Trust expenses, the reinvestment of distributions (if any) and changes in NAV for performance based on NAV and changes in market price for performance based on market price.
Since the Trust is a
closed-end
management investment company, shares of the Trust may trade at a discount or premium from the NAV. This characteristic is separate and distinct from the risk that NAV could decrease as a result of investment activities and may be a greater risk to investors expecting to sell their shares after a short time. The Trust cannot predict whether shares will trade at, above or below NAV. The Trust should not be viewed as a vehicle for trading purposes. It is designed primarily for risk-tolerant long-term investors.
The
S&P Municipal Bond Index
is a broad, market value-weighted index that seeks to measure the performance of the US municipal bond market.
The
S&P Municipal Bond New York 5+ Year Investment Grade Index
seeks to measure the performance of investment-grade, New York-issued US municipals with maturities equal to or greater than five years.
The Trust is not managed to track the performance of any particular index, including the index(es) described here, and consequently, the performance of the Trust may deviate significantly from the performance of the index(es).
A direct investment cannot be made in an index. Unless otherwise indicated, index results include reinvested dividends, and they do not reflect sales charges. Performance of the peer group, if applicable, reflects fund expenses; performance of a market index does not.
|
2
|
Invesco Trust for Investment Grade New York Municipals
|
∎
|
Add to your account:
|
∎
|
Low transaction costs:
|
∎
|
Convenience:
|
∎
|
Safekeeping:
|
1. |
Premium: If the Trust is trading at a premium - a market price that is higher than its NAV - you'll pay either the NAV or 95 percent of
|
the market price, whichever is greater. When the Trust trades at a premium, you may pay less for your reinvested shares than an investor purchasing shares on the stock exchange. Keep in mind, a portion of your price reduction may be taxable because you are receiving shares at less than market price. |
2. |
Discount: If the Trust is trading at a discount - a market price that is lower than its NAV - you'll pay the market price for your reinvested shares.
|
1. |
If you opt to continue to hold your
non-certificated
whole shares (Investment Plan Book Shares), they will be held by the Agent electronically as Direct Registration Book-Shares (Book-Entry Shares) and fractional shares will be sold at the then-current market price. Proceeds will be sent via check to your address of record after deducting applicable fees, including per share fees such as any applicable brokerage commissions the Agent is required to pay.
|
2. |
If you opt to sell your shares through the Agent, we will sell all full and fractional shares and send the proceeds via check to your address of record after deducting $2.50 per account and a brokerage charge.
|
3. |
You may sell your shares through your financial adviser through the Direct Registration System (DRS). DRS is a service within the securities industry that allows Trust shares to be held in your name in electronic format. You retain full ownership of your shares, without having to hold a share certificate. You should contact your financial adviser to learn more about any restrictions or fees that may apply.
|
3
|
Invesco Trust for Investment Grade New York Municipals
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|||||||||||
Municipal Obligations-155.09%
(a)
|
||||||||||||||
New York-152.15%
|
||||||||||||||
Albany Capital Resource Corp. (College of Siant Rose (The)); Series 2021, Ref. RB (Acquired 10/28/2021; Cost $635,790)
(b)(c)
|
4.00% | 07/01/2051 | $ | 605 | $ 319,268 | |||||||||
Albany Capital Resource Corp. (KIPP Capital Region Public Charter Schools); Series 2024, RB
|
5.00% | 06/01/2064 | 150 | 151,486 | ||||||||||
Allegany County Capital Resource Corp. (Houghton College); Series 2022 A, Ref. RB
|
5.00% | 12/01/2042 | 325 | 308,003 | ||||||||||
Amherst Development Corp. (Daemen College); Series 2018, Ref. RB
|
5.00% | 10/01/2048 | 980 | 930,649 | ||||||||||
Brookhaven Local Development Corp. (Jefferson's Ferry); Series 2016, Ref. RB
|
5.25% | 11/01/2036 | 1,010 | 1,041,328 | ||||||||||
Brooklyn Arena Local Development Corp. (Barclays Center); Series 2009, RB
(d)
|
0.00% | 07/15/2034 | 8,315 | 5,729,778 | ||||||||||
Buffalo & Erie County Industrial Land Development Corp. (Orchard Park); Series 2015, Ref. RB
|
5.00% | 11/15/2037 | 2,465 | 2,485,965 | ||||||||||
Buffalo & Erie County Industrial Land Development Corp. (Tapestry Charter School);
|
||||||||||||||
Series 2017 A, RB
|
5.00% | 08/01/2037 | 500 | 507,139 | ||||||||||
Series 2017 A, RB
|
5.00% | 08/01/2047 | 1,500 | 1,505,144 | ||||||||||
Build NYC Resource Corp. (Children's Aid Society (The));
|
||||||||||||||
Series 2019, RB
|
4.00% | 07/01/2044 | 45 | 43,560 | ||||||||||
Series 2019, RB
|
4.00% | 07/01/2049 | 1,300 | 1,238,594 | ||||||||||
Build NYC Resource Corp. (Grand Concourse Academy Charter School); Series 2022 A, RB
|
5.00% | 07/01/2056 | 100 | 101,035 | ||||||||||
Build NYC Resource Corp. (KIPP NYC Public School) (Social Bonds); Series 2023, RB
|
5.25% | 07/01/2062 | 1,000 | 1,037,394 | ||||||||||
Build NYC Resource Corp. (Pratt Paper, Inc.); Series 2014, Ref. RB
(e)(f)
|
5.00% | 01/01/2035 | 2,700 | 2,708,965 | ||||||||||
Build NYC Resource Corp. (The Children's Aid Society); Series 2015, RB
|
5.00% | 07/01/2045 | 2,840 | 2,850,854 | ||||||||||
Build NYC Resource Corp. (Whin Music Community Charter School); Series 2022, RB (Acquired 06/23/2022; Cost $1,355,000)
(c)(e)
|
6.50% | 07/01/2057 | 1,355 | 1,368,062 | ||||||||||
Dutchess County Local Development Corp. (Marist College); Series 2022, RB
|
4.00% | 07/01/2049 | 600 | 553,438 | ||||||||||
Dutchess County Local Development Corp. (Social Bonds); Series 2023, RB (CEP - FNMA)
|
5.00% | 10/01/2040 | 420 | 446,685 | ||||||||||
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB
|
5.00% | 06/01/2045 | 3,225 | 3,004,032 | ||||||||||
Genesee County Funding Corp. (The) (Rochester Regional Health Obligated Group); Series 2022 A, Ref. RB
|
5.25% | 12/01/2052 | 725 | 756,781 | ||||||||||
Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB (INS - AGM)
(g)
|
4.00% | 02/15/2047 | 1,425 | 1,397,390 | ||||||||||
Jefferson Civic Facility Development Corp. (Samaritan Medical Center); Series 2017 A, Ref. RB
|
4.00% | 11/01/2047 | 1,245 | 909,573 | ||||||||||
Long Island (City of), NY Power Authority; Series 2017, RB
|
5.00% | 09/01/2047 | 1,000 | 1,038,598 | ||||||||||
Long Island (City of), NY Power Authority (Green Bonds);
|
||||||||||||||
Series 2023 E, RB
|
5.00% | 09/01/2048 | 500 | 547,543 | ||||||||||
Series 2023 E, RB
|
5.00% | 09/01/2053 | 1,000 | 1,088,022 | ||||||||||
Metropolitan Transportation Authority;
|
||||||||||||||
Series 2016
C-1,
RB
|
5.25% | 11/15/2056 | 150 | 152,793 | ||||||||||
Series 2017 D, Ref. RB
|
4.00% | 11/15/2042 | 2,950 | 2,912,612 | ||||||||||
Metropolitan Transportation Authority (Green Bonds);
|
||||||||||||||
Series 2017
A-1,
RB
|
5.25% | 11/15/2057 | 3,975 | 4,108,386 | ||||||||||
Series 2017
B-1,
RB
|
5.25% | 11/15/2057 | 2,065 | 2,147,061 | ||||||||||
Series 2017
C-2,
Ref. RB
(d)
|
0.00% | 11/15/2040 | 8,250 | 4,138,330 | ||||||||||
Monroe County Industrial Development Corp. (St. Ann's Community); Series 2019, Ref. RB
|
5.00% | 01/01/2050 | 850 | 733,044 | ||||||||||
Monroe County Industrial Development Corp. (St. John Fisher College);
|
||||||||||||||
Series 2014 A, RB
(h)(i)
|
5.50% | 09/22/2024 | 1,000 | 1,001,268 | ||||||||||
Series 2024, Ref. RB
|
5.25% | 06/01/2049 | 35 | 38,468 | ||||||||||
Series 2024, Ref. RB
|
5.25% | 06/01/2054 | 100 | 108,584 | ||||||||||
MTA Hudson Rail Yards Trust Obligations;
|
||||||||||||||
Series 2016 A, RB
|
5.00% | 11/15/2051 | 3,110 | 3,114,225 | ||||||||||
Series 2016 A, RB
|
5.00% | 11/15/2056 | 8,000 | 8,010,019 | ||||||||||
Nassau (County of), NY; Series 2024 A, GO Bonds
|
4.00% | 04/01/2054 | 250 | 243,674 | ||||||||||
Nassau (County of), NY Industrial Development Agency (Amsterdam at Harborside);
|
||||||||||||||
Series 2021, RB (Acquired
12/14/2007-02/28/2018;
Cost $1,420,984)
(b)(c)
|
5.00% | 01/01/2058 | 1,219 | 365,151 | ||||||||||
Series 2021, Ref. RB (Acquired 09/07/2021; Cost $600,000)
(b)(c)(e)
|
9.00% | 01/01/2041 | 600 | 600,000 | ||||||||||
Nassau County Local Economic Assistance Corp. (Catholic Health Services of Long Island Obligated Group); Series 2014, RB
|
5.00% | 07/01/2033 | 1,000 | 1,000,583 | ||||||||||
Nassau County Tobacco Settlement Corp.; Series 2006
A-3,
RB
|
5.00% | 06/01/2035 | 1,250 | 1,171,323 |
4
|
Invesco Trust for Investment Grade New York Municipals
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|||||||||||
New York-(continued)
|
||||||||||||||
New York & New Jersey (States of) Port Authority;
|
||||||||||||||
Series
2014-186,
Ref. RB
(f)
|
5.00%
|
10/15/2044
|
$
|
2,000
|
$ 2,002,711
|
|||||||||
Series 2024, Ref. RB
|
5.00%
|
07/15/2054
|
500
|
548,831
|
||||||||||
Two Hundred Thirty-First Series 2022, Ref. RB
(f)
|
5.50%
|
08/01/2047
|
8,000
|
8,745,373
|
||||||||||
Two Hundred Twenty Third Series 2021, Ref. RB
(f)
|
4.00%
|
07/15/2051
|
360
|
336,239
|
||||||||||
Two Hundredth Series 2017, Ref. RB
|
5.25%
|
10/15/2057
|
6,880
|
7,139,333
|
||||||||||
New York (City of), NY;
|
||||||||||||||
Series 2018
E-1,
GO Bonds
|
5.25%
|
03/01/2035
|
1,000
|
1,069,971
|
||||||||||
Series 2020
D-1,
GO Bonds
|
4.00%
|
03/01/2050
|
12,100
|
11,828,446
|
||||||||||
Series 2021
A-1,
GO Bonds
|
4.00%
|
08/01/2050
|
500
|
488,662
|
||||||||||
Series 2024 C, GO Bonds
|
5.25%
|
03/01/2053
|
1,500
|
1,656,438
|
||||||||||
Subseries 2010
G-4,
VRD GO Bonds
(j)
|
2.80%
|
03/01/2039
|
2,000
|
2,000,000
|
||||||||||
Subseries 2019
D-1,
GO Bonds
|
5.00%
|
12/01/2037
|
2,000
|
2,135,594
|
||||||||||
Subseries 2022
D-1,
GO Bonds
(k)
|
5.25%
|
05/01/2043
|
1,700
|
1,885,438
|
||||||||||
New York (City of), NY Industrial Development Agency (Yankee Stadium);
|
||||||||||||||
Series 2020, Ref. RB
|
4.00%
|
03/01/2045
|
500
|
481,119
|
||||||||||
Series 2020, Ref. RB (INS - AGM)
(g)
|
4.00%
|
03/01/2045
|
4,240
|
4,153,656
|
||||||||||
Series 2020, Ref. RB (INS - AGM)
(g)
|
3.00%
|
03/01/2049
|
300
|
233,473
|
||||||||||
New York (City of), NY Municipal Water Finance Authority;
|
||||||||||||||
Series 2017 DD, RB
|
5.25%
|
06/15/2047
|
3,600
|
3,747,416
|
||||||||||
Series 2020
AA-2,
RB
|
4.00%
|
06/15/2043
|
3,500
|
3,506,869
|
||||||||||
Series 2020, Ref. RB
|
5.00%
|
06/15/2050
|
500
|
532,557
|
||||||||||
Series 2021
CC-1,
RB
|
4.00%
|
06/15/2051
|
9,000
|
8,823,670
|
||||||||||
New York (City of), NY Transitional Finance Authority;
|
||||||||||||||
Series 2018
C-3,
RB
|
4.00%
|
05/01/2045
|
2,565
|
2,529,650
|
||||||||||
Series 2018
S-3,
RB
|
5.00%
|
07/15/2043
|
2,115
|
2,219,335
|
||||||||||
Series 2018
S-3,
RB
|
5.25%
|
07/15/2045
|
690
|
731,073
|
||||||||||
Series 2019 C, RB
(k)
|
4.00%
|
11/01/2042
|
8,000
|
8,009,372
|
||||||||||
Series 2019, RB
|
4.00%
|
11/01/2042
|
5,675
|
5,681,648
|
||||||||||
Series 2020
C-1,
RB
|
4.00%
|
05/01/2045
|
2,565
|
2,548,475
|
||||||||||
Series 2020, RB
|
4.00%
|
05/01/2046
|
2,000
|
1,981,633
|
||||||||||
Series 2021
B-1,
RB
|
4.00%
|
08/01/2042
|
1,000
|
1,003,944
|
||||||||||
Series 2023 A, RB
|
4.00%
|
05/01/2045
|
2,000
|
1,987,115
|
||||||||||
Series 2024, RB
|
4.13%
|
05/01/2052
|
1,000
|
993,085
|
||||||||||
Series 2024, RB
|
5.00%
|
05/01/2052
|
1,000
|
1,088,302
|
||||||||||
Subseries 2016
F-3,
RB
|
3.25%
|
02/01/2041
|
1,535
|
1,423,455
|
||||||||||
New York (State of) Dormitory Authority;
|
||||||||||||||
Series 2009 C, RB (INS - AGC)
(g)
|
5.00%
|
10/01/2024
|
35
|
35,044
|
||||||||||
Series 2011, RB
|
5.00%
|
10/01/2025
|
20
|
20,033
|
||||||||||
Series 2013 A, RB
(h)(i)
|
5.00%
|
11/25/2024
|
680
|
682,873
|
||||||||||
Series 2015 A, Ref. RB
(k)
|
5.00%
|
07/01/2048
|
10,000
|
10,112,586
|
||||||||||
Series 2018, RB
|
5.00%
|
07/01/2048
|
855
|
884,952
|
||||||||||
Series 2020 A, Ref. RB
|
4.00%
|
03/15/2048
|
3,000
|
2,956,178
|
||||||||||
Series 2020 D, Ref. RB
|
4.00%
|
02/15/2047
|
300
|
295,483
|
||||||||||
Series 2022, RB
(k)
|
4.00%
|
03/15/2049
|
6,500
|
6,405,278
|
||||||||||
Series 2024 A, RB
|
5.50%
|
05/01/2049
|
50
|
55,021
|
||||||||||
Series 2024 A, RB
|
5.00%
|
03/15/2054
|
500
|
544,734
|
||||||||||
Series 2024 A, RB
|
5.50%
|
05/01/2056
|
150
|
164,185
|
||||||||||
New York (State of) Dormitory Authority (Barnard College); Series 2015 A, Ref. RB
|
5.00%
|
07/01/2043
|
1,000
|
1,005,888
|
||||||||||
New York (State of) Dormitory Authority (Catholic Health System Obligated Group); Series 2019 A, Ref. RB
|
4.00%
|
07/01/2045
|
1,750
|
1,421,163
|
||||||||||
New York (State of) Dormitory Authority (City of New York);
|
||||||||||||||
Series 2005 A, RB (INS - AMBAC)
(g)
|
5.50%
|
05/15/2027
|
700
|
751,847
|
||||||||||
Series 2005 A, RB (INS - AMBAC)
(g)
|
5.50%
|
05/15/2030
|
1,750
|
2,005,968
|
||||||||||
Series 2005 A, RB (INS - AMBAC)
(g)
|
5.50%
|
05/15/2031
|
445
|
518,272
|
||||||||||
New York (State of) Dormitory Authority (Columbia University); Series 2018 A, RB
|
5.00%
|
10/01/2048
|
1,000
|
1,219,570
|
||||||||||
New York (State of) Dormitory Authority (Fashion Institute of Technology Student Housing Corp.); Series 2007, RB (INS - NATL)
(g)
|
5.25%
|
07/01/2028
|
2,065
|
2,138,770
|
5
|
Invesco Trust for Investment Grade New York Municipals
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|||||||||||
New York-(continued)
|
||||||||||||||
New York (State of) Dormitory Authority (Icahn School of Medicine at Mount Sinai); Series 2015, Ref. RB
|
5.00%
|
07/01/2045
|
$
|
2,835
|
$ 2,838,890
|
|||||||||
New York (State of) Dormitory Authority (Montefiore Obligated Group); Series 2018 A, Ref. RB
|
5.00%
|
08/01/2030
|
2,000
|
2,080,679
|
||||||||||
New York (State of) Dormitory Authority (New School (The)); Series 2022 A, Ref. RB
|
4.00%
|
07/01/2047
|
235
|
228,633
|
||||||||||
New York (State of) Dormitory Authority (New York University);
|
||||||||||||||
Series
2001-1,
RB (INS - BHAC)
(g)
|
5.50%
|
07/01/2031
|
1,115
|
1,247,775
|
||||||||||
Series
2001-1,
RB (INS - AMBAC)
(g)
|
5.50%
|
07/01/2031
|
2,500
|
2,797,701
|
||||||||||
New York (State of) Dormitory Authority (Orange Regional Medical Center);
|
||||||||||||||
Series 2015, Ref. RB
(e)
|
5.00%
|
12/01/2045
|
1,075
|
1,009,254
|
||||||||||
Series 2017, Ref. RB
(e)
|
5.00%
|
12/01/2036
|
900
|
885,614
|
||||||||||
Series 2017, Ref. RB
(e)
|
5.00%
|
12/01/2037
|
1,500
|
1,467,936
|
||||||||||
New York (State of) Dormitory Authority (Pace University);
|
||||||||||||||
Series 2013 A, RB
(h)(i)
|
5.00%
|
11/25/2024
|
1,120
|
1,124,732
|
||||||||||
Series 2013 A, RB
(h)(i)
|
5.00%
|
11/25/2024
|
1,270
|
1,275,366
|
||||||||||
New York (State of) Dormitory Authority (Rochester Institute of Technology);
|
||||||||||||||
Series 2019 A, RB
|
4.00%
|
07/01/2044
|
1,985
|
1,952,899
|
||||||||||
Series 2019 A, RB
|
5.00%
|
07/01/2049
|
1,410
|
1,471,911
|
||||||||||
New York (State of) Dormitory Authority (Wagner College); Series 2022, Ref. RB
|
5.00%
|
07/01/2057
|
2,280
|
2,217,827
|
||||||||||
New York (State of) Dormitory Authority (Yeshiva University); Series 2022 A, Ref. RB
|
5.00%
|
07/15/2050
|
1,000
|
1,017,286
|
||||||||||
New York (State of) Housing Finance Agency; Series 2023
E-1,
RB
|
4.95%
|
11/01/2058
|
1,415
|
1,448,142
|
||||||||||
New York (State of) Mortgage Agency (Social Bonds);
|
||||||||||||||
Series 2023 252, RB
|
4.45%
|
10/01/2043
|
75
|
76,002
|
||||||||||
Series 2023 252, RB
|
4.55%
|
10/01/2048
|
125
|
125,733
|
||||||||||
Series 2023 252, RB
|
4.65%
|
10/01/2053
|
150
|
151,003
|
||||||||||
New York (State of) Power Authority (Green Bonds); Series 2020 A, Ref. RB
|
4.00%
|
11/15/2060
|
3,300
|
3,211,715
|
||||||||||
New York (State of) Power Authority (Green Transmission) (Green Bonds);
|
||||||||||||||
Series 2022, RB (INS - AGM)
(g)
|
4.00%
|
11/15/2061
|
4,000
|
3,869,613
|
||||||||||
Series 2023, RB (INS - AGM)
(g)
|
5.13%
|
11/15/2063
|
1,380
|
1,524,939
|
||||||||||
New York (State of) Thruway Authority;
|
||||||||||||||
Series 2019 B, RB
|
4.00%
|
01/01/2050
|
2,000
|
1,943,093
|
||||||||||
Series 2020 N, RB
|
5.00%
|
01/01/2040
|
2,000
|
2,173,496
|
||||||||||
New York (State of) Utility Debt Securitization Authority (Green Bonds);
|
||||||||||||||
Series 2022, Ref. RB
|
5.00%
|
12/15/2049
|
550
|
603,348
|
||||||||||
Series 2022, Ref. RB
|
5.00%
|
09/15/2052
|
250
|
273,291
|
||||||||||
New York City Housing Development Corp. (Sustainable Development Bonds); Series 2023, RB
|
4.80%
|
02/01/2053
|
1,620
|
1,639,125
|
||||||||||
New York Convention Center Development Corp. (Hotel Unit Fee Secured);
|
||||||||||||||
Series 2015, Ref. RB
|
5.00%
|
11/15/2040
|
1,965
|
1,987,075
|
||||||||||
Series 2016 B, RB
(d)
|
0.00%
|
11/15/2044
|
1,730
|
660,204
|
||||||||||
Series 2016, RB
(d)
|
0.00%
|
11/15/2056
|
5,000
|
980,775
|
||||||||||
New York Counties Tobacco Trust IV; Series 2010 A, RB
(e)
|
6.25%
|
06/01/2041
|
870
|
870,126
|
||||||||||
New York Counties Tobacco Trust V;
|
||||||||||||||
Series 2005
S-1,
RB
(d)
|
0.00%
|
06/01/2038
|
8,430
|
3,740,592
|
||||||||||
Series 2005
S-2,
RB
(d)
|
0.00%
|
06/01/2050
|
14,850
|
2,386,763
|
||||||||||
New York Liberty Development Corp. (3 World Trade Center);
|
||||||||||||||
Series 2014, Class 1, Ref. RB
(e)
|
5.00%
|
11/15/2044
|
4,895
|
4,899,098
|
||||||||||
Series 2014, Class 3, Ref. RB
(e)
|
7.25%
|
11/15/2044
|
1,085
|
1,088,345
|
||||||||||
New York Liberty Development Corp. (Bank of America Tower at One Bryant Park); Series 2019, Ref. RB
|
2.80%
|
09/15/2069
|
2,785
|
2,565,185
|
||||||||||
New York Liberty Development Corp. (Goldman Sachs Headquarters); Series 2007, RB
|
5.50%
|
10/01/2037
|
2,845
|
3,413,946
|
||||||||||
New York Liberty Development Corp. (Green Bonds);
|
||||||||||||||
Series 2021 A, Ref. RB
|
2.75%
|
11/15/2041
|
925
|
731,390
|
||||||||||
Series 2021 A, Ref. RB
|
2.88%
|
11/15/2046
|
3,325
|
2,492,463
|
||||||||||
New York State Environmental Facilities Corp. (New York City Municipal Water Finance Authority Projects - 2nd Resolution Bonds); Series 2017 E, RB
|
5.00%
|
06/15/2042
|
575
|
598,246
|
||||||||||
New York State Urban Development Corp.; Series 2020 C, Ref. RB
|
5.00%
|
03/15/2050
|
1,410
|
1,497,837
|
||||||||||
New York State Urban Development Corp. (Bidding Group 3);
|
||||||||||||||
Series 2021, Ref. RB
|
4.00%
|
03/15/2044
|
615
|
612,209
|
||||||||||
Series 2021, Ref. RB
|
4.00%
|
03/15/2046
|
1,320
|
1,301,836
|
||||||||||
Series 2021, Ref. RB
(k)
|
4.00%
|
03/15/2046
|
9,000
|
8,876,152
|
||||||||||
New York State Urban Development Corp. (Bidding Group 4); Series 2020 E, Ref. RB
|
4.00%
|
03/15/2046
|
2,500
|
2,471,041
|
6
|
Invesco Trust for Investment Grade New York Municipals
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|||||||||||
New York-(continued)
|
||||||||||||||
New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport);
|
||||||||||||||
Series 2023, RB
(f)
|
5.38%
|
06/30/2060
|
$
|
1,500
|
$ 1,565,274
|
|||||||||
Series 2024, RB
(f)
|
5.50%
|
06/30/2054
|
700
|
750,839
|
||||||||||
Series 2024, RB (INS - AGM)
(f)(g)
|
5.25%
|
06/30/2060
|
250
|
265,329
|
||||||||||
New York Transportation Development Corp. (American Airlines, Inc.);
|
||||||||||||||
Series 2016, Ref. RB
(f)
|
5.00%
|
08/01/2026
|
1,015
|
1,016,542
|
||||||||||
Series 2016, Ref. RB
(f)
|
5.00%
|
08/01/2031
|
800
|
800,900
|
||||||||||
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment);
|
||||||||||||||
Series 2018, RB
(f)
|
5.00%
|
01/01/2034
|
805
|
830,473
|
||||||||||
Series 2018, RB
(f)
|
5.00%
|
01/01/2036
|
5,455
|
5,609,415
|
||||||||||
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
|
||||||||||||||
Series 2016 A, RB
(f)
|
5.00%
|
07/01/2041
|
2,500
|
2,499,889
|
||||||||||
Series 2016 A, RB
(f)(k)(l)
|
5.00%
|
07/01/2046
|
7,000
|
6,999,727
|
||||||||||
New York Transportation Development Corp. (Terminal 4 JFK International Airport);
|
||||||||||||||
Series 2020 A, Ref. RB
(f)
|
5.00%
|
12/01/2031
|
200
|
215,191
|
||||||||||
Series 2022, RB
(f)
|
5.00%
|
12/01/2041
|
2,000
|
2,105,900
|
||||||||||
Niagara Area Development Corp. (Catholic Health System, Inc.); Series 2022, RB
|
5.00%
|
07/01/2052
|
450
|
413,304
|
||||||||||
Niagara Area Development Corp. (Covanta); Series 2018 A, Ref. RB
(e)(f)
|
4.75%
|
11/01/2042
|
1,820
|
1,745,024
|
||||||||||
Niagara Frontier Transportation Authority (Buffalo Niagara International Airport); Series 2014 A, Ref. RB
(f)
|
5.00%
|
04/01/2028
|
1,000
|
1,000,510
|
||||||||||
Niagara Tobacco Asset Securitization Corp.; Series 2014, Ref. RB
|
5.25%
|
05/15/2040
|
1,725
|
1,725,052
|
||||||||||
Oneida County Local Development Corp. (Mohawk Valley Health System); Series 2019, Ref. RB (INS - AGM)
(g)
|
4.00%
|
12/01/2049
|
2,000
|
1,916,148
|
||||||||||
Oneida County Local Development Corp. (Utica College); Series 2019, Ref. RB
|
4.00%
|
07/01/2039
|
150
|
132,608
|
||||||||||
Onondaga (County of), NY Trust for Cultural Resources (Syracuse University); Series 2019, Ref. RB
|
4.00%
|
12/01/2049
|
4,260
|
4,169,930
|
||||||||||
Rockland Tobacco Asset Securitization Corp.;
|
||||||||||||||
Series 2001, RB
|
5.75%
|
08/15/2043
|
1,375
|
1,393,281
|
||||||||||
Series 2005 A, RB
(d)(e)
|
0.00%
|
08/15/2045
|
7,890
|
2,345,981
|
||||||||||
Series 2005 C, RB
(d)(e)
|
0.00%
|
08/15/2060
|
96,000
|
6,517,133
|
||||||||||
Suffolk County Economic Development Corp. (Catholic Health Services); Series 2014 C, RB
|
5.00%
|
07/01/2032
|
1,085
|
1,086,102
|
||||||||||
Suffolk Regional
Off-Track
Betting Co.;
|
||||||||||||||
Series 2024, RB
|
5.75%
|
12/01/2044
|
500
|
523,433
|
||||||||||
Series 2024, RB
|
6.00%
|
12/01/2053
|
500
|
525,500
|
||||||||||
Suffolk Tobacco Asset Securitization Corp.; Series 2021, Ref. RB
|
4.00%
|
06/01/2050
|
915
|
914,807
|
||||||||||
Tompkins County Development Corp. (Tompkins Cortland Community College Foundation, Inc.);
|
||||||||||||||
Series 2013 A, RB
(b)
|
5.00%
|
07/01/2027
|
1,000
|
300,000
|
||||||||||
Series 2013 A, RB
(b)
|
5.00%
|
07/01/2032
|
750
|
225,000
|
||||||||||
Series 2013 A, RB
(b)
|
5.00%
|
07/01/2038
|
2,000
|
600,000
|
||||||||||
Triborough Bridge & Tunnel Authority;
|
||||||||||||||
Series 2013 A, Ref. RB
(d)
|
0.00%
|
11/15/2032
|
2,000
|
1,506,902
|
||||||||||
Subseries 2021
B-1,
Ref. RB
|
4.00%
|
05/15/2056
|
1,000
|
976,560
|
||||||||||
Triborough Bridge & Tunnel Authority (Green Bonds); Series 2022
D-2,
RB
|
5.25%
|
05/15/2047
|
5,545
|
6,132,120
|
||||||||||
Triborough Bridge & Tunnel Authority (MTA Brdiges & Tunnels) (Green Bonds); Subseries 2022
D-2,
RB
|
5.50%
|
05/15/2052
|
350
|
390,156
|
||||||||||
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
|
||||||||||||||
Series 2020 A, RB
|
5.00%
|
11/15/2054
|
3,120
|
3,304,921
|
||||||||||
Series 2022, RB
(k)
|
5.25%
|
05/15/2062
|
8,000
|
8,708,475
|
||||||||||
Triborough Bridge & Tunnel Authority( MTA Brdiges & Tunnels); Series 2023 A, RB
(k)
|
4.25%
|
05/15/2058
|
10,000
|
10,011,692
|
||||||||||
TSASC, Inc.;
|
||||||||||||||
Series 2016 B, Ref. RB
|
5.00%
|
06/01/2045
|
2,070
|
1,873,816
|
||||||||||
Series 2017 A, Ref. RB
|
5.00%
|
06/01/2036
|
2,885
|
2,976,216
|
||||||||||
Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities); Series 2017 A, RB
(e)(f)
|
7.00%
|
06/01/2046
|
1,030
|
1,059,024
|
||||||||||
Westchester County Local Development Corp.; Series 2014 A, RB
(h)(i)
|
5.50%
|
11/25/2024
|
100
|
100,535
|
||||||||||
Westchester County Local Development Corp. (Betheal Methodist);
|
||||||||||||||
Series 2020 A, Ref. RB
|
5.00%
|
07/01/2040
|
150
|
132,138
|
||||||||||
Series 2020 A, Ref. RB
|
5.13%
|
07/01/2055
|
520
|
430,014
|
||||||||||
Westchester County Local Development Corp. (Kendal on Hudson); Series 2022, Ref. RB
|
4.25%
|
01/01/2045
|
420
|
412,125
|
7
|
Invesco Trust for Investment Grade New York Municipals
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|||||||||||||
New York-(continued)
|
||||||||||||||||
Westchester County Local Development Corp. (Purchase Senior Learning Community, Inc.);
|
||||||||||||||||
Series 2021, Ref. RB
(e)
|
5.00%
|
07/01/2046
|
$
|
350
|
$
|
353,402
|
||||||||||
Series 2021, Ref. RB
(e)
|
4.50%
|
07/01/2056
|
600
|
552,422
|
||||||||||||
Series 2021, Ref. RB
(e)
|
5.00%
|
07/01/2056
|
200
|
199,985
|
||||||||||||
Westchester County Local Development Corp. (Westchester Medical Center Obligated Group);
|
||||||||||||||||
Series 2023, RB (INS - AGM)
(g)
|
5.75%
|
11/01/2048
|
150
|
170,515
|
||||||||||||
Series 2023, RB (INS - AGM)
(g)
|
5.75%
|
11/01/2053
|
1,250
|
1,409,827
|
||||||||||||
Westchester Tobacco Asset Securitization Corp.;
|
||||||||||||||||
Series 2016 C, Ref. RB
|
5.00%
|
06/01/2045
|
575
|
563,258
|
||||||||||||
Series 2016 C, Ref. RB
|
5.13%
|
06/01/2051
|
2,705
|
2,652,667
|
||||||||||||
Western Regional
Off-Track
Betting Corp.; Series 2021, Ref. RB
(e)
|
4.13%
|
12/01/2041
|
275
|
252,469
|
||||||||||||
356,837,352
|
||||||||||||||||
Puerto Rico-2.64%
|
||||||||||||||||
Children's Trust Fund;
|
||||||||||||||||
Series 2002, RB
|
5.50%
|
05/15/2039
|
605
|
608,128
|
||||||||||||
Series 2002, RB
|
5.63%
|
05/15/2043
|
145
|
146,684
|
||||||||||||
Series 2005 A, RB
(d)
|
0.00%
|
05/15/2050
|
3,000
|
579,642
|
||||||||||||
Puerto Rico (Commonwealth of); Series 2021
A-1,
GO Bonds
|
4.00%
|
07/01/2046
|
1,125
|
1,044,601
|
||||||||||||
Puerto Rico (Commonwealth of) Electric Power Authority; Series 2007 VV, Ref. RB (Acquired 07/19/2018; Cost $518,497) (INS - NATL)
(c)(g)
|
5.25%
|
07/01/2030
|
500
|
491,602
|
||||||||||||
Puerto Rico Sales Tax Financing Corp.;
|
||||||||||||||||
Series 2018
A-1,
RB
(d)
|
0.00%
|
07/01/2029
|
565
|
470,863
|
||||||||||||
Series 2018
A-1,
RB
(d)
|
0.00%
|
07/01/2031
|
650
|
499,121
|
||||||||||||
Series 2018
A-1,
RB
(d)
|
0.00%
|
07/01/2046
|
1,000
|
337,193
|
||||||||||||
Series 2018
A-1,
RB
|
5.00%
|
07/01/2058
|
2,000
|
2,008,845
|
||||||||||||
6,186,679
|
||||||||||||||||
Virgin Islands-0.30%
|
||||||||||||||||
Virgin Islands (Government of) Port Authority; Series 2014 B, Ref. RB
|
5.00%
|
09/01/2044
|
785
|
719,662
|
||||||||||||
TOTAL INVESTMENTS IN SECURITIES
(m)
-155.09% (Cost $362,563,803)
|
363,743,693
|
|||||||||||||||
FLOATING RATE NOTE OBLIGATIONS-(17.55)%
|
||||||||||||||||
Notes with interest and fee rates ranging from 3.47% to 3.48% at 08/31/2024 and contractual maturities of collateral ranging from 11/01/2042 to 05/15/2062 (See Note 1J)
(n)
|
(41,155,000
|
)
|
||||||||||||||
VARIABLE RATE MUNI TERM PREFERRED SHARES-(38.51)%
|
(90,315,752
|
)
|
||||||||||||||
OTHER ASSETS LESS LIABILITIES-0.97%
|
2,259,552
|
|||||||||||||||
NET ASSETS APPLICABLE TO COMMON SHARES-100.00%
|
$
|
234,532,493
|
||||||||||||||
AGC
|
- Assured Guaranty Corp.
|
|
AGM
|
- Assured Guaranty Municipal Corp.
|
|
AMBAC
|
- American Municipal Bond Assurance Corp.
|
|
BHAC
|
- Berkshire Hathaway Assurance Corp.
|
|
CEP
|
- Credit Enhancement Provider
|
|
FNMA
|
- Federal National Mortgage Association
|
|
GO
|
- General Obligation
|
|
INS
|
- Insurer
|
|
NATL
|
- National Public Finance Guarantee Corp.
|
|
RB
|
- Revenue Bonds
|
|
Ref.
|
- Refunding
|
|
VRD
|
- Variable Rate Demand
|
8
|
Invesco Trust for Investment Grade New York Municipals
|
(a)
|
Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust's use of leverage.
|
(b)
|
Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at August 31, 2024 was $2,409,419, which represented 1.03% of the Trust's Net Assets.
|
(c)
|
Restricted security. The aggregate value of these securities at August 31, 2024 was $3,144,083, which represented 1.34% of the Trust's Net Assets.
|
(d)
|
Zero coupon bond issued at a discount.
|
(e)
|
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2024 was $27,922,840, which represented 11.91% of the Trust's Net Assets.
|
(f)
|
Security subject to the alternative minimum tax.
|
(g)
|
Principal and/or interest payments are secured by the bond insurance company listed.
|
(h)
|
Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.
|
(i)
|
Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
|
(j)
|
Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2024.
|
(k)
|
Underlying security related to TOB Trusts entered into by the Trust. See Note 1J.
|
(l)
|
Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $4,670,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.
|
(m)
|
Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each.
|
(n)
|
Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at August 31, 2024. At August 31, 2024, the Trust's investments with a value of $61,008,720 are held by TOB Trusts and serve as collateral for the $41,155,000 in the floating rate note obligations outstanding at that date.
|
Revenue Bonds
|
92.70
|
%
|
||
General Obligation Bonds
|
5.60
|
|||
Pre-Refunded
Bonds
|
1.15
|
|||
Other
|
0.55
|
9
|
Invesco Trust for Investment Grade New York Municipals
|
Assets:
|
||||
Investments in unaffiliated securities, at value (Cost $362,563,803)
|
$
|
363,743,693
|
||
Receivable for:
|
||||
Interest
|
3,734,720
|
|||
Investment for trustee deferred compensation and retirement plans
|
13,490
|
|||
Total assets
|
367,491,903
|
|||
Liabilities:
|
||||
Floating rate note obligations
|
41,155,000
|
|||
Variable rate muni term preferred shares ($0.01 par value, 904 shares issued with liquidation preference of $100,000 per share)
|
90,315,752
|
|||
Payable for:
|
||||
Dividends
|
67,978
|
|||
Amount due custodian
|
768,711
|
|||
Accrued fees to affiliates
|
22,022
|
|||
Accrued interest expense
|
338,079
|
|||
Accrued trustees' and officers' fees and benefits
|
560
|
|||
Accrued other operating expenses
|
276,169
|
|||
Trustee deferred compensation and retirement plans
|
15,139
|
|||
Total liabilities
|
132,959,410
|
|||
Net assets applicable to common shares
|
$
|
234,532,493
|
||
Net assets applicable to common shares consist of:
|
||||
Shares of beneficial interest - common shares
|
$
|
263,157,856
|
||
Distributable earnings (loss)
|
(28,625,363
|
)
|
||
$
|
234,532,493
|
|||
Common shares outstanding, no par value, with an unlimited number of common shares authorized:
|
||||
Common shares outstanding
|
19,477,753
|
|||
Net asset value per common share
|
$
|
12.04
|
||
Market value per common share
|
$
|
11.41
|
||
10
|
Invesco Trust for Investment Grade New York Municipals
|
Investment income:
|
||||
Interest
|
$
|
8,022,942
|
||
Expenses:
|
||||
Advisory fees
|
1,015,542
|
|||
Administrative services fees
|
17,538
|
|||
Custodian fees
|
2,917
|
|||
Interest, facilities and maintenance fees
|
2,953,945
|
|||
Transfer agent fees
|
11,336
|
|||
Trustees' and officers' fees and benefits
|
11,414
|
|||
Registration and filing fees
|
11,948
|
|||
Reports to shareholders
|
141,489
|
|||
Professional services fees
|
91,064
|
|||
Other
|
621
|
|||
Total expenses
|
4,257,814
|
|||
Net investment income
|
3,765,128
|
|||
Realized and unrealized gain (loss) from:
|
||||
Net realized gain (loss) from unaffiliated investment securities
|
(966,290
|
)
|
||
Change in net unrealized appreciation of unaffiliated investment securities
|
2,256,602
|
|||
Net realized and unrealized gain
|
1,290,312
|
|||
Net increase in net assets resulting from operations applicable to common shares
|
$
|
5,055,440
|
||
11
|
Invesco Trust for Investment Grade New York Municipals
|
August 31,
2024
|
February 29,
2024
|
|||||||
Operations:
|
||||||||
Net investment income
|
$
|
3,765,128
|
$
|
7,518,232
|
||||
Net realized gain (loss)
|
(966,290
|
)
|
(7,041,491
|
)
|
||||
Change in net unrealized appreciation
|
2,256,602
|
15,918,101
|
||||||
Net increase in net assets resulting from operations applicable to common shares
|
5,055,440
|
16,394,842
|
||||||
Distributions to common shareholders from distributable earnings
|
(6,304,949
|
)
|
(7,330,295
|
)
|
||||
Return of capital applicable to common shares
|
-
|
(458,858
|
)
|
|||||
Total distributions
|
(6,304,949
|
)
|
(7,789,153
|
)
|
||||
Net increase (decrease) in net assets applicable to common shares
|
(1,249,509
|
)
|
8,605,689
|
|||||
Net assets applicable to common shares:
|
||||||||
Beginning of period
|
235,782,002
|
227,176,313
|
||||||
End of period
|
$
|
234,532,493
|
$
|
235,782,002
|
||||
12
|
Invesco Trust for Investment Grade New York Municipals
|
Cash provided by operating activities:
|
||||
Net increase in net assets resulting from operations applicable to common shares
|
$
|
5,055,440
|
||
Adjustments to reconcile the change in net assets applicable to common shares from operations to net cash provided by operating activities:
|
||||
Purchases of investments
|
(17,900,519
|
)
|
||
Proceeds from sales of investments
|
19,529,337
|
|||
Purchases of short-term investments, net
|
(1,999,999
|
)
|
||
Amortization (accretion) of premiums and discounts, net
|
(319,457
|
)
|
||
Net realized loss from investment securities
|
966,290
|
|||
Net change in unrealized appreciation on investment securities
|
(2,256,602
|
)
|
||
Change in operating assets and liabilities:
|
||||
Decrease in receivables and other assets
|
48,547
|
|||
Increase in accrued expenses and other payables
|
144,657
|
|||
Net cash provided by operating activities
|
3,267,694
|
|||
Cash provided by (used in) financing activities:
|
||||
Increase in payable for amount due custodian
|
768,711
|
|||
Dividends paid to common shareholders from distributable earnings
|
(6,266,905
|
)
|
||
Proceeds from TOB Trusts
|
(830,000
|
)
|
||
Net cash provided by (used in) financing activities
|
(6,328,194
|
)
|
||
Net decrease in cash and cash equivalents
|
(3,060,500
|
)
|
||
Cash and cash equivalents at beginning of period
|
3,060,500
|
|||
Cash and cash equivalents at end of period
|
$
|
-
|
||
Supplemental disclosure of cash flow information:
|
||||
Cash paid during the period for interest, facilities and maintenance fees
|
$
|
2,933,568
|
||
13
|
Invesco Trust for Investment Grade New York Municipals
|
Six Months Ended
|
Year Ended
|
Years Ended
|
Year Ended
|
|||||||||||||||||||||
August 31,
|
February 29,
|
February 28,
|
February 29,
|
|||||||||||||||||||||
2024
|
2024
|
2023
|
2022
|
2021
|
2020
|
|||||||||||||||||||
Net asset value per common share, beginning of period
|
$ 12.11
|
$ 11.66
|
$ 13.67
|
$ 14.22
|
$ 15.03
|
$ 13.90
|
||||||||||||||||||
Net investment income
(a)
|
0.19
|
0.39
|
0.45
|
0.55
|
0.58
|
0.57
|
||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized)
|
0.06
|
0.46
|
(1.97)
|
(0.53)
|
(0.84)
|
1.16
|
||||||||||||||||||
Total from investment operations
|
0.25
|
0.85
|
(1.52)
|
0.02
|
(0.26)
|
1.73
|
||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Dividends paid to common shareholders from net investment income
|
(0.32
|
)
|
(0.38)
|
(0.46)
|
(0.57)
|
(0.55)
|
(0.56)
|
|||||||||||||||||
Return of capital
|
-
|
(0.02)
|
(0.03)
|
-
|
-
|
(0.04)
|
||||||||||||||||||
Total distributions
|
(0.32
|
)
|
(0.40)
|
(0.49)
|
(0.57)
|
(0.55)
|
(0.60)
|
|||||||||||||||||
Net asset value per common share, end of period
|
$ 12.04
|
$ 12.11
|
$ 11.66
|
$ 13.67
|
$ 14.22
|
$ 15.03
|
||||||||||||||||||
Market value per common share, end of period
|
$ 11.41
|
$ 10.53
|
$ 10.09
|
$ 12.21
|
$ 13.00
|
$ 13.58
|
||||||||||||||||||
Total return at net asset value
(b)
|
2.37
|
%
|
8.08
|
%
|
(10.65)
|
%
|
0.30
|
%
|
(1.13)%
|
13.00%
|
||||||||||||||
Total return at market value
(c)
|
11.57
|
%
|
8.61
|
%
|
(13.43)
|
%
|
(2.00)
|
%
|
0.03%
|
9.50%
|
||||||||||||||
Net assets applicable to common shares, end of period (000's omitted)
|
$234,532
|
$235,782
|
$227,176
|
$266,293
|
$276,922
|
$292,817
|
||||||||||||||||||
Portfolio turnover rate
(d)
|
5
|
%
|
26
|
%
|
23
|
%
|
1
|
%
|
14%
|
12%
|
||||||||||||||
Ratios/supplemental data based on average net assets applicable to common shares outstanding:
|
||||||||||||||||||||||||
Ratio of expenses:
|
||||||||||||||||||||||||
With fee waivers and/or expense reimbursements
|
3.62%
|
(e)
|
3.44
|
%
|
2.56
|
%
|
1.48
|
%
|
1.79%
|
2.45%
|
||||||||||||||
With fee waivers and/or expense reimbursements excluding interest, facilities and maintenance fees
|
1.11%
|
(e)
|
0.97
|
%
|
0.98
|
%
|
0.95
|
%
|
0.98%
|
1.00%
|
||||||||||||||
Without fee waivers and/or expense reimbursements
|
3.62%
|
(e)
|
3.44
|
%
|
2.56
|
%
|
1.48
|
%
|
1.79%
|
2.45%
|
||||||||||||||
Ratio of net investment income to average net assets
|
3.20%
|
(e)
|
3.30
|
%
|
3.79
|
%
|
3.79
|
%
|
4.15%
|
3.93%
|
||||||||||||||
Senior securities:
|
||||||||||||||||||||||||
Total amount of preferred shares outstanding (000's omitted)
|
$ 90,400
|
$ 90,400
|
$ 90,400
|
$ 90,400
|
$ 90,400
|
$ 90,400
|
||||||||||||||||||
Asset coverage per preferred share
(f)
|
$359,439
|
$360,821
|
$351,301
|
$394,572
|
$406,330
|
$423,912
|
||||||||||||||||||
Liquidating preference per preferred share
|
$100,000
|
$100,000
|
$100,000
|
$100,000
|
$100,000
|
$100,000
|
||||||||||||||||||
(a)
|
Calculated using average shares outstanding.
|
(b)
|
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable.
|
(c)
|
Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust's dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable.
|
(d)
|
Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.
|
(e)
|
Annualized.
|
(f)
|
Calculated by subtracting the Trust's total liabilities (not including preferred shares, at liquidation value) from the Trust's total assets and dividing this by the total number of preferred shares outstanding.
|
14
|
Invesco Trust for Investment Grade New York Municipals
|
A.
|
Security Valuations
- Securities, including restricted securities, are valued according to the following policy.
|
B.
|
Securities Transactions and Investment Income
- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.
Pay-in-kind
interest income and
non-cash
dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the
ex-dividend
date.
|
C.
|
Country Determination
- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.
|
D.
|
Distributions
- The Trust declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally declared and paid annually and are distributed on a pro rata basis to common and preferred shareholders.
|
E.
|
Federal Income Taxes -
The Trust intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Trust's taxable earnings to shareholders. As such, the Trust will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.
|
15
|
Invesco Trust for Investment Grade New York Municipals
|
F.
|
Interest, Facilities and Maintenance Fees
- Interest, Facilities and Maintenance Fees include interest and related borrowing costs such as commitment fees, rating and bank agent fees, administrative expenses and other expenses associated with establishing and maintaining the line of credit and Variable Rate Muni Term Preferred Shares ("VMTP Shares"). In addition, interest and administrative expenses related to establishing and maintaining floating rate note obligations, if any, are included.
|
G.
|
Accounting Estimates -
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the
period-end
date and before the date the financial statements are released to print.
|
H.
|
Indemnifications
- Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts, including the Trust's servicing agreements, that contain a variety of indemnification clauses. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.
|
I.
|
Cash and Cash Equivalents -
For the purposes of the Statement of Cash Flows, the Trust defines Cash and Cash Equivalents as cash (including foreign currency), restricted cash, money market funds and other investments held in lieu of cash and excludes investments made with cash collateral received.
|
J.
|
Floating Rate Note Obligations
- The Trust invests in inverse floating rate securities, such as Tender Option Bonds ("TOBs"), for investment purposes and to enhance the yield of the Trust. Such securities may be purchased in the secondary market without first owning an underlying bond but generally are created through the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer or by the Trust ("TOB Trusts") in exchange for cash and residual interests in the TOB Trusts' assets and cash flows, which are in the form of inverse floating rate securities. The TOB Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The floating rate notes issued by the TOB Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the TOB Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate securities) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the TOB Trust to the Trust, thereby collapsing the TOB Trust. Inverse floating rate securities tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable.
|
K.
|
Other Risks
- The risk of a municipal obligation generally depends on the financial and credit status of the issuer. Constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives, and the issuer's regional economic conditions may affect the municipal security's value, interest payments, repayment of principal and the Trust's ability to sell the security. Failure of a municipal security issuer to comply with applicable tax requirements may make income paid thereon taxable, resulting in a decline in the security's value. In addition, there could be changes in applicable tax laws or tax
|
16
|
Invesco Trust for Investment Grade New York Municipals
|
treatments that reduce or eliminate the current federal income tax exemption on municipal securities or otherwise adversely affect the current federal or state tax status of municipal securities. |
Level 1 - | Prices are determined using quoted prices in an active market for identical assets. | |
Level 2 - | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service. | |
Level 3 - | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
17
|
Invesco Trust for Investment Grade New York Municipals
|
Capital Loss Carryforward*
|
||||||||||||||
Expiration
|
Short-Term
|
Long-Term
|
Total
|
|||||||||||
Not subject to expiration
|
$10,565,822
|
$16,144,500
|
$26,710,322
|
|||||||||||
* |
Capital loss carryforward is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.
|
Unrealized Appreciation (Depreciation) of Investments on a Tax Basis
|
||||
Aggregate unrealized appreciation of investments
|
$
|
11,531,205
|
||
Aggregate unrealized (depreciation) of investments
|
(9,931,134
|
)
|
||
Net unrealized appreciation of investments
|
$
|
1,600,071
|
||
Six Months Ended
August 31, |
Year Ended
February 29, |
|||||||||||
2024
|
2024
|
|||||||||||
Beginning shares
|
19,477,753
|
19,477,753
|
||||||||||
Shares issued through dividend reinvestment
|
-
|
-
|
||||||||||
Ending shares
|
19,477,753
|
19,477,753
|
||||||||||
Issue Date
|
Shares Issued
|
Term Redemption Date
|
Extension Date
|
|||||||
05/09/2012
|
904
|
06/04/2029
|
12/01/2023
|
|||||||
18
|
Invesco Trust for Investment Grade New York Municipals
|
Declaration Date
|
Amount per Share
|
Record Date
|
Payable Date
|
|||||||||||||||
September 3, 2024
|
$0.0685
|
September 17, 2024
|
September 30, 2024
|
|||||||||||||||
October 1, 2024
|
$0.0685
|
October 16, 2024
|
October 31, 2024
|
|||||||||||||||
19
|
Invesco Trust for Investment Grade New York Municipals
|
A.
|
Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated
Sub-Advisers
|
B.
|
Fund Investment Performance
|
20
|
Invesco Trust for Investment Grade New York Municipals
|
C.
|
Advisory and
Sub-Advisory
Fees and Fund Expenses
|
D.
|
Economies of Scale and Breakpoints
|
E.
|
Profitability and Financial Resources
|
F.
|
Collateral Benefits to Invesco Advisers and its Affiliates
|
21
|
Invesco Trust for Investment Grade New York Municipals
|
Matter
|
Votes For
|
Votes Against/
Withheld |
||||||||
(1)
|
Elizabeth Krentzman
|
16,311,900.57
|
1,141,754.41
|
|||||||
Robert C. Troccoli
|
16,289,292.57
|
1,164,362.41
|
||||||||
Carol Deckbar
|
16,284,372.34
|
1,169,282.64
|
||||||||
Douglas Sharp
|
16,284,509.57
|
1,169,145.41
|
||||||||
(2)
|
Elizabeth Krentzman
|
904.00
|
0.00
|
|||||||
Robert C. Troccoli
|
904.00
|
0.00
|
||||||||
Carol Deckbar
|
904.00
|
0.00
|
||||||||
Douglas Sharp
|
904.00
|
0.00
|
Matter
|
Votes For
|
Votes
Against/Withheld
|
Votes Abstain
|
|||||||||||
(a)
|
To amend the fundamental investment restriction regarding diversification
|
9,968,922.86
|
903,585.62
|
306,719.50
|
||||||||||
(b)
|
To amend the fundamental investment restriction regarding borrowing
|
9,846,348.02
|
1,006,115.62
|
326,765.34
|
||||||||||
(c)
|
To amend the fundamental investment restriction regarding issuing senior securities
|
9,858,857.02
|
1,004,093.46
|
316,278.50
|
||||||||||
(d)
|
To amend the fundamental investment restriction regarding underwriting securities issued by other persons
|
9,839,891.02
|
988,317.46
|
351,020.50
|
||||||||||
(e)
|
To amend the fundamental investment restriction regarding lending
|
9,843,594.02
|
998,964.46
|
336,669.50
|
||||||||||
(f)
|
To amend the fundamental investment restriction regarding purchasing and selling real estate
|
9,835,228.29
|
1,045,935.19
|
298,064.50
|
||||||||||
(g)
|
To amend the fundamental investment restriction regarding purchasing and selling commodities
|
9,853,515.86
|
1,007,471.62
|
318,240.50
|
||||||||||
(h)
|
To amend the fundamental investment restriction regarding industry concentration
|
9,892,691.86
|
997,385.62
|
289,150.50
|
Matter
|
Votes For
|
Votes
Against/Withheld
|
Votes Abstain
|
|||||||||||
(a)
|
To remove the fundamental investment restriction regarding purchasing on margin
|
9,780,477.59
|
1,124,064.89
|
274,687.50
|
||||||||||
(b)
|
To remove the fundamental investment restriction(s) regarding making short sales, writing, purchasing or selling puts or calls or purchasing futures or options
|
9,792,217.59
|
1,099,496.89
|
287,514.50
|
||||||||||
(c)
|
To remove the fundamental investment restriction regarding investing for control or management
|
9,798,317.02
|
1,050,807.46
|
330,105.50
|
||||||||||
(d)
|
To remove the fundamental investment restriction regarding investing in other investment companies
|
9,860,284.02
|
997,839.19
|
321,105.77
|
||||||||||
(e)
|
To remove the fundamental investment restriction regarding investing in oil, gas or mineral exploration or development programs
|
9,841,475.59
|
1,036,865.62
|
300,888.77
|
||||||||||
(f)
|
To remove the fundamental investment restriction regarding investing for short-term profit
|
10,168,713.59
|
725,064.89
|
285,449.50
|
22
|
Invesco Trust for Investment Grade New York Municipals
|
SEC file number(s):
811-06537
|
VK-CE-IGNYM-SAR-1
|
(b) Not applicable.
Item 2. |
Code of Ethics |
Not applicable for a semi-annual report.
Item 3. |
Audit Committee Financial Expert |
Not applicable.
Item 4. |
Principal Accountant Fees and Services |
Not applicable.
Item 5. |
Audit Committee of Listed Registrants |
Not applicable.
Item 6. |
Investments |
Investments in securities of unaffiliated issuers is filed under Item 1 of this Form.
Item 7. |
Financial Statements and Financial Highlights for Open-EndManagement Investment Companies |
Not applicable.
Item 8. |
Changes in and Disagreements with Accountants for Open-EndManagement Investment Companies |
Not applicable.
Item 9. |
Proxy Disclosures for Open-EndManagement Investment Companies |
Not applicable.
Item 10. |
Remuneration Paid to Directors, Officers, and Others for Open-EndManagement Investment Companies |
Not applicable.
Item 11. |
Statement Regarding Basis for Approval of Investment Advisory Contract |
Not applicable.
Item 12. |
Disclosure of Proxy Voting Policies and Procedures for Closed-EndManagement Investment Companies. |
Not applicable.
Item 13. |
Portfolio Managers of Closed-EndManagement Investment Companies |
Not applicable.
Item 14. |
Purchases of Equity Securities by Closed-EndManagement Investment Company and Affiliated Purchasers |
Not applicable.
Item 15. |
Submission of Matters to a Vote of Security Holders |
None.
Item 16. |
Controls and Procedures |
(a) |
As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"), to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c)under the Investment Company Act of 1940 (the "Act"), as amended. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSRis recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. |
(b) |
There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d)under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. |
Item 17. |
Disclosure of Securities Lending Activity for Closed-EndManagement Investment Companies |
Not applicable.
Item 18. |
Recovery of Erroneously Awarded Compensation |
Not applicable.
Item 19. |
Exhibits |
19(a)(1) Not applicable.
19(a)(2) Not applicable.
19(a)(3) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002.
19(b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: Invesco Trust for Investment Grade New York Municipals
By: |
/s/ Glenn Brightman |
|
Glenn Brightman | ||
Principal Executive Officer | ||
Date: | November 1, 2024 |
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: |
/s/ Glenn Brightman |
|
Glenn Brightman | ||
Principal Executive Officer | ||
Date: | November 1, 2024 | |
By: |
/s/ Adrien Deberghes |
|
Adrien Deberghes | ||
Principal Financial Officer | ||
Date: | November 1, 2024 |