Invesco Value Municipal Income Trust is a closedended fixed income mutual fund launched by Invesco Ltd The fund is comanaged by Invesco Advisers Inc INVESCO Asset Management Japan Limited INVESCO Asset Management Deutschland GmbH INVESCO Asset Management Limited Invesco Canada Ltd Invesco Hong Kong Limited and INVESCO Senior Secured Management Inc It invests in the fixed income markets of the United States The fund primarily invests in investment grade municipal securities which include municipal bonds municipal notes municipal commercial paper and lease obligations It employs fundamental analysis with bottomup security selection approach to create its portfolio The fund was previously known as Invesco Insured Municipal Income Trust Invesco Value Municipal Income Trust was formed on February 26 1993 and is domiciled in the United States