EX-99.H.3 17 d758704dex99h3.htm EX-99.H.3 EX-99.H.3

EIGHTH AMENDED AND RESTATED

MEMORANDUM OF AGREEMENT

(Securities Lending Administrative Fee Waiver)

This Eighth Amended and Restated Memorandum of Agreement is entered into as of the dates indicated on Exhibit “A” between AIM Counselor Series Trust (Invesco Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM Funds Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series), AIM International Mutual Funds (Invesco International Mutual Funds), AIM Investment Funds (Invesco Investment Funds), AIM Investment Securities Funds (Invesco Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds), AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust), AIM Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Management Trust, Invesco Securities Trust and Short-Term Investments Trust (each a “Fund” and collectively, the “Funds”), on behalf of the portfolios listed on Exhibit “A” to this Memorandum of Agreement (the “Portfolios”), and Invesco Advisers, Inc. (“Invesco”).

For and in consideration of the mutual terms and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Funds and Invesco agree as follows:

 

  1. Invesco agrees that until the expiration date, if any, of the commitment set forth on the attached Exhibit “A” occurs, as such Exhibit “A” is amended from time to time, Invesco will not charge any administrative fee under each Portfolio’s advisory agreement in connection with securities lending activities without prior approval from the Portfolio’s Board (such agreement is referred to as the “Waiver”).

 

  2. Neither a Fund nor Invesco may remove or amend the Waiver to a Fund’s detriment prior to requesting and receiving the approval of the Portfolio’s Board to remove or amend the Waiver. Invesco will not have any right to reimbursement of any amount so waived.

Unless a Fund, by vote of its Board of Trustees terminates the Waiver, or a Fund and Invesco are unable to reach an agreement on the amount of the Waiver to which the Fund and Invesco desire to be bound, the Waiver will continue indefinitely with respect to such Fund. Exhibit “A” will be amended to reflect the new date through which a Fund and Invesco agree to be bound.

It is expressly agreed that the obligations of the Trusts hereunder shall not be binding upon any of the Trustees, shareholders, nominees, officers, agents or employees of the Trusts personally, but shall only bind the assets and property of the Funds, as provided in each Trust’s Agreement and Declaration of Trust. The execution and delivery of this Memorandum of Agreement have been authorized by the Trustees of each Trust, and this Memorandum of Agreement has been executed and delivered by an authorized officer of each Trust acting as such; neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the assets and property of the Funds, as provided in each Trust’s Agreement and Declaration of Trust.

Nothing in this Memorandum of Agreement is intended to affect any other memorandum of agreement executed by any Fund or Invesco with respect to any other fee waivers, expense reimbursements and/or expense limitations.

IN WITNESS WHEREOF, each Fund, on behalf of itself and its Portfolios listed in Exhibit “A” to this Memorandum of Agreement, and Invesco have entered into this Memorandum of Agreement as of the dates indicated on Exhibit “A”.

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

AIM FUNDS GROUP (INVESCO FUNDS GROUP)

AIM GROWTH SERIES (INVESCO GROWTH SERIES)

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)

AIM TREASURER’S SERIES TRUST (INVESCO TREASURER’S SERIES FUNDS)

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

INVESCO MANAGEMENT TRUST

INVESCO SECURITIES TRUST

SHORT-TERM INVESTMENTS TRUST

 

  By:  

/s/ John M. Zerr

  Title:   Senior Vice President
 

INVESCO ADVISERS, INC.

  By:  

/s/ John M. Zerr

  Title:   Senior Vice President

 

2

EXHIBIT “A”

AIM Counselor Series Trust (Invesco Counselor Series Trust)

 

PORTFOLIO

   

EFFECTIVE DATE

    COMMITTED UNTIL*
Invesco American Franchise Fund    February 12, 2010   
Invesco California Tax-Free Income Fund    February 12, 2010   
Invesco Core Plus Bond Fund    June 2, 2009   
Invesco Equally-Weighted S&P 500 Fund    February 12, 2010   
Invesco Equity and Income Fund    February 12, 2010   
Invesco Floating Rate Fund    April 14, 2006   
Invesco Global Real Estate Income Fund    March 9, 2007   
Invesco Growth and Income Fund    February 12, 2010   
Invesco Low Volatility Equity Yield Fund    March 31, 2006   
Invesco Pennsylvania Tax Free Income Fund    February 12, 2010   
Invesco S&P 500 Index Fund    February 12, 2010   
Invesco Small Cap Discovery Fund    February 12, 2010   
Invesco Strategic Real Return Fund    April 30, 2014   

AIM Equity Funds (Invesco Equity Funds)

 

PORTFOLIO

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco Charter Fund    June 21, 2000   
Invesco Diversified Dividend Fund    December 28, 2001   
Invesco Summit Fund    July 24, 2000   

AIM Funds Group (Invesco Funds Group)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco European Small Company Fund    August 30, 2000   
Invesco Global Core Equity Fund    December 27, 2000   
Invesco International Small Company Fund    August 30, 2000   
Invesco Small Cap Equity Fund    August 30, 2000   

AIM Growth Series (Invesco Growth Series)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco Convertible Securities Fund    February 12, 2010   
Invesco Global Low Volatility Equity Yield Fund    September 1, 2001   
Invesco Mid Cap Core Equity Fund    September 1, 2001   
Invesco Multi-Asset Inflation Fund    April 30, 2014   
Invesco Small Cap Growth Fund    September 11, 2000   
Invesco U.S. Mortgage Fund    February 12, 2010   

 

 

*  Committed until the Fund or Invesco requests and receives the approval of the Fund’s Board to remove or amend such fee waiver. Such commitments are evergreen until amended and apply to each Portfolio of a Fund.

A-1

AIM International Mutual Funds (Invesco International Mutual Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco Asia Pacific Growth Fund    June 21, 2000   
Invesco European Growth Fund    June 21, 2000   
Invesco Global Growth Fund    June 21, 2000   
Invesco Global Opportunities Fund    August 1, 2012   
Invesco Global Small & Mid Cap Growth Fund    June 21, 2000   
Invesco International Core Equity Fund    November 25, 2003   
Invesco International Growth Fund    June 21, 2000   
Invesco Select Opportunities Fund    August 1, 2012   

AIM Investment Funds (Invesco Investment Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco All Cap Market Neutral Fund    December 17, 2013   
Invesco Balanced-Risk Allocation Fund    May 29, 2009   
Invesco Balanced-Risk Commodities Strategy Fund    November 29, 2010   
Invesco China Fund    March 31, 2006   
Invesco Developing Markets Fund    September 1, 2001   
Invesco Emerging Market Local Currency Debt Fund    June 14, 2010   
Invesco Emerging Markets Equity Fund    May 11, 2011   
Invesco Endeavor Fund    November 4, 2003   
Invesco Global Health Care Fund    September 1, 2001   
Invesco Global Infrastructure Fund    May 2, 2014   
Invesco Global Market Neutral Fund    December 17, 2013   
Invesco Global Markets Strategy Fund    September 26, 2012   
Invesco Global Targeted Returns Fund    December 17, 2013   
Invesco International Total Return Fund    March 31, 2006   
Invesco Long/Short Equity Fund    December 17, 2013   
Invesco Low Volatility Emerging Markets Fund    December 17, 2013   
Invesco MLP Fund    April 30, 2014   
Invesco Macro International Equity Fund    December 17, 2013   
Invesco Macro Long/Short Fund    December 17, 2013   
Invesco Pacific Growth Fund    February 12, 2010   
Invesco Premium Income Fund    December 13, 2011   
Invesco Select Companies Fund    November 4, 2003   
Invesco Strategic Income Fund    May 2, 2014   

AIM Investment Securities Funds (Invesco Investment Securities Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco Corporate Bond Fund    February 12, 2010   
Invesco Global Real Estate Fund    April 29, 2005   
Invesco High Yield Fund    June 1, 2000   
Invesco Limited Maturity Treasury Fund    June 1, 2000   
Invesco Money Market Fund    June 1, 2000   
Invesco Real Estate Fund    September 11, 2000   
Invesco Short Term Bond Fund    August 29, 2002   
Invesco U.S. Government Fund    June 1, 2000   

 

 

*  Committed until the Fund or Invesco requests and receives the approval of the Fund’s Board to remove or amend such fee waiver. Such commitments are evergreen until amended and apply to each Portfolio of a Fund.

A-2

AIM Sector Funds (Invesco Sector Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco American Value Fund    February 12, 2010   
Invesco Comstock Fund    February 12, 2010   
Invesco Dividend Income Fund    November 25, 2003   
Invesco Energy Fund    November 25, 2003   
Invesco Gold & Precious Metals Fund    November 25, 2003   
Invesco Mid Cap Growth Fund    February 12, 2010   
Invesco Small Cap Value Fund    February 12, 2010   
Invesco Technology Fund    November 25, 2003   
Invesco Technology Sector Fund    February 12, 2010   
Invesco Value Opportunities Fund    February 12, 2010   

AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco High Yield Municipal Fund    February 12, 2010   
Invesco Intermediate Term Municipal Income Fund    February 12, 2010   
Invesco Municipal Income Fund    February 12, 2010   
Invesco New York Tax Free Income Fund    February 12, 2010   
Invesco Tax-Exempt Cash Fund    June 1, 2000   
Invesco Tax-Free Intermediate Fund    June 1, 2000   

AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Premier Portfolio    November 25, 2003   
Premier Tax-Exempt Portfolio    November 25, 2003   
Premier U.S. Government Money Portfolio    November 25, 2003   

AIM Variable Insurance Funds (Invesco Insurance Funds)

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco V.I. American Franchise Fund    February 12, 2010   
Invesco V.I. American Value Fund    February 12, 2010   
Invesco V.I. Balanced-Risk Allocation Fund    May 1, 2000   
Invesco V.I. Comstock Fund    February 12, 2010   
Invesco V.I. Core Equity Fund    May 1, 2000   
Invesco V.I. Diversified Dividend Fund    February 9, 2010   
Invesco V.I. Diversified Income Fund    May 1, 2000   
Invesco V.I. Equally-Weighted S&P 500 Fund    February 12, 2010   
Invesco V.I. Equity and Income Fund    February 12, 2010   
Invesco V.I. Global Core Equity Fund    February 10, 2010   
Invesco V.I. Global Health Care Fund    April 30, 2004   
Invesco V.I. Global Real Estate Fund    April 30, 2004   

 

*  Committed until the Fund or Invesco requests and receives the approval of the Fund’s Board to remove or amend such fee waiver. Such commitments are evergreen until amended and apply to each Portfolio of a Fund.

A-3

Invesco V.I. Government Securities Fund    May 1, 2000   
Invesco V.I. Growth and Income Fund    February 12, 2010   
Invesco V.I. High Yield Fund    May 1, 2000   
Invesco V.I. International Growth Fund    May 1, 2000   
Invesco V.I. Mid Cap Core Equity Fund    September 10, 2001   
Invesco V.I. Mid Cap Growth Fund    February 12, 2010   
Invesco V.I. Money Market Fund    May 1, 2000   
Invesco V.I. S&P 500 Index Fund    February 12, 2010   
Invesco V.I. Small Cap Equity Fund    September 1, 2003   
Invesco V.I. Technology Fund    April 30, 2004   
Invesco V.I. Managed Volatility Fund    April 30, 2004   
Invesco V.I. Value Opportunities Fund    September 10, 2001   

INVESCO MANAGEMENT TRUST

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Invesco Conservative Income Fund    June 26, 2014   

INVESCO SECURITIES TRUST

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL*
Invesco Balanced-Risk Aggressive Allocation Fund    January 16, 2013   

Short-Term Investments Trust

 

FUND

   

EFFECTIVE DATE

   

COMMITTED UNTIL*

Government & Agency Portfolio    June 1, 2000   
Government TaxAdvantage Portfolio    June 1, 2000   
Liquid Assets Portfolio    June 1, 2000   
STIC Prime Portfolio    June 1, 2000   
Tax-Free Cash Reserve Portfolio    June 1, 2000   
Treasury Portfolio    June 1, 2000   

 

*  Committed until the Fund or Invesco requests and receives the approval of the Fund’s Board to remove or amend such fee waiver. Such commitments are evergreen until amended and apply to each Portfolio of a Fund.

 

A-4