ADVISORY CONTRACTS 3 advisorycontract.htm FOR VALIDATION PURPOSES ONLY - [928019.TX]

MEMORANDUM OF AGREEMENT

(Advisory Fee Waivers)

This Memorandum of Agreement is entered into as of the effective date on the attached Exhibit A and B (each an “Exhibit” or, collectively the “Exhibits”), 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 Advantage Municipal Income Trust II, Invesco Bond Fund, Invesco California Value Municipal Income Trust, Invesco Dynamic Credit Opportunities Fund, Invesco Exchange Fund, Invesco High Income 2023 Target Term Fund, Invesco High Income 2024 Target Term Fund, Invesco High Income Trust II, Invesco Management Trust, Invesco Municipal Income Opportunities Trust, Invesco Municipal Opportunity Trust, Invesco Municipal Trust, Invesco Pennsylvania Value Municipal Income Trust, Invesco Quality Municipal Income Trust, Invesco Securities Trust, Invesco Senior Income Trust, Invesco Trust for Investment Grade Municipals, Invesco Trust for Investment Grade New York Municipals and Invesco Value Municipal Income Trust (each a “Trust” or, collectively, the “Trusts”), on behalf of the funds listed on the Exhibits to this Memorandum of Agreement (the “Funds”), and Invesco Advisers, Inc. (“Invesco”). Invesco shall and hereby agrees to waive fees of the Funds, on behalf of their respective classes as applicable, severally and not jointly, as indicated in the Exhibits.

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, Invesco agrees that until at least the expiration date set forth on Exhibit A (the “Expiration Date”) and with respect to those Funds listed on the Exhibit, Invesco will waive its advisory fees at the rate set forth on the Exhibit.

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 Trusts and Invesco agree as follows:

 

  1.

Invesco agrees that until the expiration date, if any, of the commitment set forth on the attached Exhibit B occurs, as such Exhibit B is amended from time to time, Invesco will waive advisory fees payable by an Investing Fund (defined below) in an amount equal to 100% of the net advisory fee Invesco receives on the Uninvested Cash (defined below) from the Affiliated Money Market Fund (defined below) in which the Investing Fund invests (the “Waiver”).

 

  i.

Invesco’s Fund Accounting Group will calculate, and apply, the Waiver monthly, based upon the average investment of Uninvested Cash made by the Investing Fund during the previous month in an Affiliated Money Market Fund.

 

  ii.

The Waiver will not apply to those Investing Funds that do not charge an advisory fee, either due to the terms of their advisory agreement, or as a result of contractual or voluntary fee waivers.

 

  iii.

The Waiver will not apply to cash collateral for securities lending.

For purposes of the paragraph above, the following terms shall have the following meanings:

 

  (a)

“Affiliated Money Market Fund” - any existing or future Trust that holds itself out as a money market fund and complies with Rule 2a-7 under the Investment Company Act of 1940, as amended;

 

  (b)

“Investing Fund” - any Fund investing Cash Balances and/or Cash Collateral in an Affiliated Money Market Fund; and

 

  (c)

“Uninvested Cash” - cash available and uninvested by a Trust that may result from a variety of sources, including dividends or interest received on portfolio securities, unsettled securities transactions, strategic reserves, matured investments, proceeds from liquidation of investment securities, dividend payments, or new investor capital.

  2.

Neither a Trust nor Invesco may remove or amend the Waiver to a Trust’s detriment prior to the Expiration Date without requesting and receiving the approval of the Board of Trustee of the applicable Fund’s Trust to remove or amend such Waiver. Invesco will not have any right to reimbursement of any amount so waived.

Subject to the foregoing paragraphs, Invesco agrees to review the then-current waivers for each class of the Funds listed on the Exhibits on a date prior to the Expiration Date to determine whether such waivers should be amended, continued or terminated. The waivers will expire upon the Expiration Date unless Invesco has agreed to continue them. The Exhibits will be amended to reflect any such agreement.

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.

IN WITNESS WHEREOF, each of the Trusts, on behalf of itself and its Funds listed in Exhibit A and B to this Memorandum of Agreement, and Invesco have entered into this Memorandum of Agreement as of the Effective Date on the attached Exhibits.

 

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 ADVANTAGE MUNICIPAL INCOME TRUST II

INVESCO BOND FUND

INVESCO CALIFORNIA VALUE MUNICIPAL INCOME TRUST

INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND

INVESCO EXCHANGE FUND

INVESCO HIGH INCOME 2023 TARGET TERM FUND

INVESCO HIGH INCOME 2024 TARGET TERM FUND

INVESCO HIGH INCOME TRUST II

INVESCO MANAGEMENT TRUST

INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST

INVESCO MUNICIPAL OPPORTUNITY TRUST

INVESCO MUNICIPAL TRUST

INVESCO PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST

INVESCO QUALITY MUNICIPAL INCOME TRUST

INVESCO SECURITIES TRUST

INVESCO SENIOR INCOME TRUST

INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS

INVESCO TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS

INVESCO VALUE MUNICIPAL INCOME TRUST

 

 

on behalf of the Funds listed in the Exhibit

to this Memorandum of Agreement

By:  

/s/ Jeffrey H. Kupor

Title:   Senior Vice President
INVESCO ADVISERS, INC.
By:  

/s/ Jeffrey H. Kupor

Title:   Senior Vice President
Exhibit A to Advisory Fee MOA  

AIM Growth Series

(Invesco Growth Series)

   

Waiver Description

    Effective Date      Expiration
Date		  
Invesco Oppenheimer Portfolio Series: Active Allocation Fund    Invesco will waive advisory fees in the amount of 0.04% of the Fund’s average daily net assets      05/28/2019        05/31/2021  
Invesco Oppenheimer Portfolio Series: Conservative Investor Fund    Invesco will waive advisory fees in the amount of 0.10% of the Fund’s average daily net assets      05/28/2019        05/31/2021  
Invesco Oppenheimer Portfolio Series: Moderate Investor Fund    Invesco will waive advisory fees in the amount of 0.07% of the Fund’s average daily net assets      05/28/2019        05/31/2021  

AIM Investment Funds

(Invesco Investment Funds

   

Waiver Description

    Effective Date      Expiration
Date		  
Invesco Balanced-Risk Commodity Strategy Fund    Invesco will waive advisory fees in an amount equal to the advisory fees earned on underlying affiliated investments      02/24/15        06/30/2021  
Invesco Global Targeted Returns Fund    Invesco will waive advisory fees in an amount equal to the advisory fees earned on underlying affiliated investments      12/17/2013        06/30/2021  

AIM Investment Securities Funds

(Invesco Investment Securities Funds

   

Waiver Description

    Effective Date      Expiration
Date		  

Invesco Oppenheimer Government Cash Reserves Fund

    Limit Management Fees to 0.40% for each class      05/28/2019        05/31/2021  

AIM Treasurer’s Series Trust

(Invesco Treasurer’s Series Trust)

   

Waiver Description

    Effective Date      Expiration
Date		  
Invesco Premier Portfolio    Invesco will waive advisory fees in the amount of 0.07% of the Fund’s average daily net assets      2/1/2011        12/31/2020  
Invesco Premier U.S. Government Money Portfolio    Invesco will waive advisory fees in the amount of 0.07% of the Fund’s average daily net assets      2/1/2011        12/31/2020  
Invesco Premier Tax-Exempt Portfolio    Invesco will waive advisory fees in the amount of 0.05% of the Fund’s average daily net assets      06/01/2016        12/31/2020  

EXHIBIT “B”

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

 

PORTFOLIO

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco American Franchise Fund

    February 12, 2010    June 30, 2021

Invesco California Tax-Free Income Fund

    February 12, 2010    June 30, 2021

Invesco Core Plus Bond Fund

    June 2, 2009    June 30, 2021

Invesco Equally-Weighted S&P 500 Fund

    February 12, 2010    June 30, 2021

Invesco Equity and Income Fund

    February 12, 2010    June 30, 2021

Invesco Floating Rate Fund

    July 1, 2007    June 30, 2021

Invesco Global Real Estate Income Fund

    July 1, 2007    June 30, 2021

Invesco Growth and Income Fund

    February 12, 2010    June 30, 2021

Invesco Low Volatility Equity Yield Fund

    July 1, 2007    June 30, 2021

Invesco Oppenheimer Capital Appreciation Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Discovery Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Equity Income Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Master Loan Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Real Estate Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® Short Duration High Yield Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Senior Floating Rate Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Senior Floating Rate Plus Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Short Term Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Pennsylvania Tax Free Income Fund

    February 12, 2010    June 30, 2021

Invesco S&P 500 Index Fund

    February 12, 2010    June 30, 2021

Invesco Short Duration High Yield Municipal Fund

    September 30, 2015    June 30, 2021

Invesco Small Cap Discovery Fund

    February 12, 2010    June 30, 2021

AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

 

PORTFOLIO

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Charter Fund

    July 1, 2007    June 30, 2021

Invesco Diversified Dividend Fund

    July 1, 2007    June 30, 2021

Invesco Oppenheimer Dividend Opportunity Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Main Street All Cap Fund®

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Main Street Fund®

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rising Dividends Fund

    May 28, 2019    June 30, 2021

Invesco Summit Fund

    July 1, 2007    June 30, 2021

AIM FUNDS GROUP (INVESCO FUNDS GROUP)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco European Small Company Fund

    July 1, 2007    June 30, 2021

Invesco Global Core Equity Fund

    July 1, 2007    June 30, 2021

Invesco International Small Company Fund

    July 1, 2007    June 30, 2021

Invesco Small Cap Equity Fund

    July 1, 2007    June 30, 2021

AIM GROWTH SERIES (INVESCO GROWTH SERIES)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Convertible Securities Fund

    February 12, 2010    June 30, 2021
Invesco Global Low Volatility Equity Yield Fund    July 1, 2007    June 30, 2021

Invesco Mid Cap Core Equity Fund

    July 1, 2007    June 30, 2021

Invesco Oppenheimer Main Street Mid Cap Fund®

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Main Street Small Cap Fund®

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Master Event-Linked Bond Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Mid Cap Value Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Portfolio Series: Active Allocation Fund

    May 28, 2019    June 30, 2021

Invesco Quality Income Fund

    February 12, 2010    June 30, 2021
Invesco Small Cap Growth Fund    July 1, 2007    June 30, 2021

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Asia Pacific Growth Fund

    July 1, 2007    June 30, 2021

Invesco European Growth Fund

    July 1, 2007    June 30, 2021

Invesco Global Growth Fund

    July 1, 2007    June 30, 2021

Invesco Global Opportunities Fund

    August 3, 2012    June 30, 2021

Invesco Global Responsibility Equity Fund

    June 30, 2016    June 30, 2021

Invesco Global Small & Mid Cap Growth Fund

    July 1, 2007    June 30, 2021

Invesco International Select Equity Fund

    December 21, 2015    June 30, 2021

Invesco International Core Equity Fund

    July 1, 2007    June 30, 2021

Invesco International Growth Fund

    July 1, 2007    June 30, 2021

Invesco Oppenheimer Global Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Global Focus Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Global Multi-Asset Growth Fund1

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Global Opportunities Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer International Equity Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer International Growth Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer International Small-Mid Company Fund

    May 28, 2019    June 30, 2021

Invesco Select Opportunities Fund

    May 28, 2019    June 30, 2021

AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL
Invesco All Cap Market Neutral Fund    December 17, 2013    June 30, 2021
Invesco Balanced-Risk Allocation Fund2    May 29, 2009    June 30, 2021
Invesco Balanced-Risk Commodity Strategy Fund3    November 29, 2010    June 30, 2021
Invesco Developing Markets Fund    July 1, 2007    June 30, 2021
Invesco Emerging Markets Select Equity Fund    May 11, 2011    June 30, 2021
Invesco Endeavor Fund    July 1, 2007    June 30, 2021
Invesco Global Infrastructure Fund    May 2, 2014    June 30, 2021
Invesco Global Market Neutral Fund    December 17, 2013    June 30, 2021
Invesco Global Targeted Returns Fund4    December 17, 2013    June 30, 2021
Invesco Greater China Fund    July 1, 2007    June 30, 2021
Invesco Health Care Fund    July 1, 2007    June 30, 2021
Invesco Long/Short Equity Fund    December 17, 2013    June 30, 2021
Invesco Low Volatility Emerging Markets Fund    December 17, 2013    June 30, 2021
Invesco Macro Allocation Strategy Fund5    September 25, 2012    June 30, 2021
Invesco Multi-Asset Income Fund6    December 13, 2011    June 30, 2021

Invesco Oppenheimer Capital Income Fund7

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Developing Markets Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Discovery Mid Cap Growth Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Emerging Markets Innovators Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Emerging Markets Local Debt Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Fundamental Alternatives Fund8

    May 28, 2019    June 30, 2021

 

 

1 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Global Multi-Asset Growth Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Global Multi-Asset Growth Fund (Cayman) Ltd. invests.

2 

Advisory fees to be waived by Invesco for Invesco Balanced-Risk Allocation Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund I, Ltd. invests.

3 

Advisory fees to be waived by Invesco for Invesco Balanced-Risk Commodity Strategy Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund III, Ltd. invests.

4 

Advisory fees to be waived by Invesco for Invesco Global Targeted Returns Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund VII, Ltd. invests.

5 

Advisory fees to be waived by Invesco for Invesco Macro Allocation Strategy Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund V, Ltd. invests.

6 

Advisory fees to be waived by Invesco for Invesco Multi-Asset Income Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Multi-Asset Income Cayman, Ltd. invests.

7 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Capital Income Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Capital Income Fund (Cayman) Ltd. invests.

8 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Fundamental Alternatives Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Fundamental Alternatives Fund (Cayman) Ltd. invests.

Invesco Oppenheimer Global Allocation Fund9

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Global Multi-Asset Income Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Global Strategic Income Fund10

    May 28, 2019    June 30, 2021

Invesco Oppenheimer International Bond Fund11

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Macquarie Global Infrastructure Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer SteelPath MLP Alpha Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer SteelPath MLP Alpha Plus Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer SteelPath MLP Income Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer SteelPath MLP Select 40 Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Total Return Bond Fund

    May 28, 2019    June 30, 2021
Invesco Pacific Growth Fund    February 12, 2010    June 30, 2021
Invesco Select Companies Fund    July 1, 2007    June 30, 2021
Invesco U.S. Managed Volatility Fund    December 18, 2017    June 30, 2021
Invesco World Bond Fund    July 1, 2007    June 30, 2021

AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Corporate Bond Fund

    February 12, 2010    June 30, 2021

Invesco Global Real Estate Fund

    July 1, 2007    June 30, 2021

Invesco Government Money Market Fund

    July 1, 2007    June 30, 2021

Invesco High Yield Fund

    July 1, 2007    June 30, 2021

Invesco Income Fund

    July 1, 2007    June 30, 2021

Invesco Oppenheimer Global High Yield Fund12

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Government Cash Reserves Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Government Money Market Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Intermediate Income Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Limited-Term Bond Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Limited-Term Government Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Master Inflation Protected Securities Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Ultra-Short Duration Fund

    May 28, 2019    June 30, 2021

Invesco Real Estate Fund

    July 1, 2007    June 30, 2021

Invesco Short Duration Inflation Protected Fund

    July 1, 2007    June 30, 2021

Invesco Short Term Bond Fund

    July 1, 2007    June 30, 2021

 

9 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Global Allocation Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Global Allocation Fund (Cayman) Ltd. invests.

10 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Global Strategic Income Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Global Strategic Income Fund (Cayman) Ltd. invests.

11 

Advisory fees to be waived by Invesco for Invesco Oppenheimer International Bond Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer International Bond Fund (Cayman) Ltd. invests.

12 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Global High Yield Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Global High Yield Fund (Cayman) Ltd. invests.

AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco American Value Fund

    February 12, 2010    June 30, 2021

Invesco Comstock Fund

    February 12, 2010    June 30, 2021
Invesco Energy Fund    July 1, 2007    June 30, 2021
Invesco Dividend Income Fund    July 1, 2007    June 30, 2021
Invesco Gold & Precious Metals Fund    July 1, 2007    June 30, 2021

Invesco Mid Cap Growth Fund

    February 12, 2010    June 30, 2021

Invesco Oppenheimer Gold & Special Minerals Fund13

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Small Cap Value Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Value Fund

    May 28, 2019    June 30, 2021

Invesco Small Cap Value Fund

    February 12, 2010    June 30, 2021
Invesco Technology Fund    July 1, 2007    June 30, 2021
Invesco Technology Sector Fund    February 12, 2010    June 30, 2021

Invesco Value Opportunities Fund

    February 12, 2010    June 30, 2021

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

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco High Yield Municipal Fund

    February 12, 2010    June 30, 2021

Invesco Intermediate Term Municipal Income Fund

    February 12, 2010    June 30, 2021

Invesco Municipal Income Fund

    February 12, 2010    June 30, 2021

Invesco New York Tax Free Income Fund

    February 12, 2010    June 30, 2021

Invesco Oppenheimer Intermediate Term Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® AMT-Free Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® AMT-Free New York Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® California Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® High Yield Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® Limited Term California Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® Limited Term New York Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® Municipals Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® New Jersey Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer Rochester® Pennsylvania Municipal Fund

    May 28, 2019    June 30, 2021

Invesco Limited Term Municipal Income Fund

    July 1, 2007    June 30, 2021

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Oppenheimer V.I. Capital Appreciation Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Conservative Balanced Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Global Fund

    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Global Strategic Income Fund14

    May 28, 2019    June 30, 2021

 

13 

Advisory fees to be waived by Invesco for Invesco Oppenheimer Gold & Special Minerals Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer Gold & Special Minerals Fund (Cayman) Ltd. invests.

14 

Advisory fees to be waived by Invesco for Invesco Oppenheimer V.I. Global Strategic Income Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Oppenheimer V.I. Global Strategic Income Fund (Cayman) Ltd. invests.

Invesco Oppenheimer V.I. Government Money Fund

    May 28, 2019    June 30, 2021
Invesco Oppenheimer V.I. International Growth Fund    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Main Street Fund®

    May 28, 2019    June 30, 2021

Invesco Oppenheimer V.I. Main Street Small Cap Fund®

    May 28, 2019    June 30, 2021
Invesco Oppenheimer V.I. Total Return Bond Fund    May 28, 2019    June 30, 2021

Invesco V.I. American Franchise Fund

    February 12, 2010    June 30, 2021

Invesco V.I. American Value Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Balanced-Risk Allocation Fund15

    December 22, 2010    June 30, 2021

Invesco V.I. Comstock Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Core Equity Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Core Plus Bond Fund

    April 30, 2015    June 30, 2021

Invesco V.I. Diversified Dividend Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Equally-Weighted S&P 500 Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Equity and Income Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Global Core Equity Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Global Real Estate Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Government Money Market Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Government Securities Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Growth and Income Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Health Care Fund

    July 1, 2007    June 30, 2021

Invesco V.I. High Yield Fund

    July 1, 2007    June 30, 2021

Invesco V.I. International Growth Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Managed Volatility Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Mid Cap Core Equity Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Mid Cap Growth Fund

    February 12, 2010    June 30, 2021

Invesco V.I. S&P 500 Index Fund

    February 12, 2010    June 30, 2021

Invesco V.I. Small Cap Equity Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Technology Fund

    July 1, 2007    June 30, 2021

Invesco V.I. Value Opportunities Fund

    July 1, 2007    June 30, 2021

INVESCO EXCHANGE FUND

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Exchange Fund

    September 30, 2015    June 30, 2021

INVESCO SECURITIES TRUST

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Balanced-Risk Aggressive Allocation Fund16

    January 16, 2013    June 30, 2021

INVESCO MANAGEMENT TRUST

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL

Invesco Conservative Income Fund

    July 1, 2014    June 30, 2021

CLOSED-END FUNDS

 

FUND

    EFFECTIVE DATE    COMMITTED UNTIL
Invesco Advantage Municipal Income Trust II    May 15, 2012    June 30, 2021
Invesco Bond Fund    August 26, 2015    June 30, 2021
Invesco California Value Municipal Income Trust    May 15, 2012    June 30, 2021

 

15 

Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk Allocation Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund IV, Ltd. invests.

16 

Advisory fees to be waived by Invesco for Invesco Balanced-Risk Aggressive Allocation Fund also include advisory fees that Invesco receives on the Uninvested Cash from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund VI, Ltd. invests.

Invesco Dynamic Credit Opportunities Fund    May 15, 2012    June 30, 2021
Invesco High Income 2023 Target Term Fund    November 28, 20016    June 30, 2021
Invesco High Income 2024 Target Term Fund    November 30, 2017    June 30, 2021
Invesco High Income Trust II    May 15, 2012    June 30, 2021
Invesco Municipal Income Opportunities Trust    August 26, 2015    June 30, 2021
Invesco Municipal Opportunity Trust    May 15, 2012    June 30, 2021
Invesco Municipal Trust    May 15, 2012    June 30, 2021
Invesco Pennsylvania Value Municipal Income Trust    May 15, 2012    June 30, 2021
Invesco Quality Municipal Income Trust    August 26, 2015    June 30, 2021
Invesco Senior Income Trust    May 15, 2012    June 30, 2021
Invesco Trust for Investment Grade Municipals    May 15, 2012    June 30, 2021
Invesco Trust for Investment Grade New York Municipals    May 15, 2012    June 30, 2021

Invesco Value Municipal Income Trust

    June 1, 2010    June 30, 2021