Karen Dunn Kelley

Karen Dunn Kelley is chief executive offi cer of Invesco Fixed Income, with responsibility for its fixed income and cash management business, which employs 119 investment professionals and with $153.4 billion1 in assets as of December 31, 2009.

In addition to Ms. Dunn Kelley's current position, she is also a member of Invesco's Executive Management and Worldwide Institutional Strategy Committees. She is president and principal executive offi cer of Short-Term Investments Trust and AIM Treasurer's Series Trust and serves on the board for the Short-Term Investments Company (Global Series) plc, AIM Global Management Company, Ltd and Invesco Mortgage Capital Inc. 

Ms. Dunn Kelley has been in the investment business since 1982, and has a vast amount of experience in both sales and asset  management in the short and long term areas of the fi xed income market. She began her career at Drexel Burnham Lambert on the Fixed Income High Grade Retail Desk, which included trading and brokering of high grade corporate, government, hybrid, mortgage and money market securities to the retail distribution network. In 1985, she was promoted to vice president and assistant manager of Drexel Burnham Lambert's Fixed Income High Yield Retail Desk, which included expanded responsibilities for the daily trading and brokering operations of the high yield retail desk. During this time, she structured swaps, hedges, arbitrages, as well as, risk positions. In 1986, Ms. Dunn Kelley joined Federated Investors (Pittsburgh) and became involved in the asset management business aspect of the fi xed income division. She was responsible for the cash management of the entire Federated family of funds which consisted of over 40 different mutual fund products. Funds managed were governed by the Investment Company Act of 1940 and she gained signifi cant experience with SEC Rule 2a-7 which governs money market funds. She also managed U.S. long duration government securities portfolios and held positions in various capacities including government bond trader, repo trader and federal funds trader. During her tenure at Federated she managed the back offi ce operations staff and was responsible for daily interaction with securities custodians for all portfolios. This position covered the settlement process of fi xed income holdings, foreign equities, currencies, and repurchase agreements.

Ms. Dunn Kelley joined Invesco in 1989 as a money market portfolio manager with initial responsibilities for all money market operations from portfolio administration to portfolio management for taxable, tax-free and treasury portfolios. In 1992, her responsibilities were expanded to include longer term government portfolios and was named chief money market and government offi cer. In 1994,

Ms. Dunn Kelley was responsible for the creation of Invesco's Short-Term Investments Company (Global Series) plc portfolios domiciled in Ireland, which evolved to include U.S. Dollar, Sterling and Euro denominated portfolios. Other portfolios created and managed under her leadership include private trusts; U.S. ERISA portfolios and Canadian domiciled money market funds. Under Ms. Dunn Kelly's direction, Invesco has built one of the world's most respected cash management organizations in the industry. In April 2007, she was named chief executive offi cer of Invesco's newly combined fi xed income and cash managementteams. The combined team creates one of the largest fi xed income operations in the world, with a comprehensive range of products and operations in key markets globally. A native of Brooklyn, New York, Ms. Dunn Kelley graduated magna cum laude with a Bachelor of Science degree from the Villanova University, College of Commerce and Finance.