EX-99.D.1.GG 2 d729423dex99d1gg.htm EX-99.D.1.GG EX-99.D.1.GG

AMENDMENT NO. 32

TO

MASTER INVESTMENT ADVISORY AGREEMENT

This amendment effective as of May 24, 2019, amends the Master Investment Advisory Agreement (the “Agreement”), dated May 1, 2000, between AIM Variable Insurance Funds (Invesco Variable Insurance Funds), a Delaware statutory trust, and Invesco Advisers, Inc., a Delaware corporation.

W I T N E S S E T H:

WHEREAS, the parties desire to amend the Agreement to add Invesco Oppenheimer V.I. Capital Appreciation Fund, Invesco Oppenheimer V.I. Conservative Balanced Fund, Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund, Invesco Oppenheimer V.I. Global Fund, Invesco Oppenheimer V.I. Global Strategic Income Fund, Invesco Oppenheimer V.I. Government Money Fund, Invesco Oppenheimer V.I. International Growth Fund, Invesco Oppenheimer V.I. Main Street Fund®, Invesco Oppenheimer V.I. Main Street Small Cap Fund® and Invesco Oppenheimer V.I. Total Return Bond Fund;

NOW, THEREFORE, the parties agree that:

 

  1.

Appendix A and Appendix B to the Agreement are hereby deleted in their entirety and replaced with the following:

APPENDIX A

FUNDS AND EFFECTIVE DATES

 

Name of Fund

  

Effective Date of Advisory Agreement

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    January 7, 2011
Invesco V.I. Comstock Fund    February 12, 2010
Invesco V.I. Core Equity Fund    May 1, 2000
Invesco V.I. Core Plus Bond Fund    May 1, 2000
Invesco V.I. Diversified Dividend Fund    February 12, 2010
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 12, 2010
Invesco V.I. Global Real Estate Fund    April 30, 2004
Invesco V.I. Government Money Market Fund    May 1, 2000
Invesco V.I. Government Securities Fund    May 1, 2000
Invesco V.I. Growth and Income Fund    February 12, 2010
Invesco V.I. Health Care Fund    April 30, 2004
Invesco V.I. High Yield Fund    May 1, 2000
Invesco V.I. International Growth Fund    May 1, 2000
Invesco V.I. Managed Volatility Fund    April 30, 2004
Invesco V.I. Mid Cap Core Equity Fund    September 10, 2001


Invesco V.I. Mid Cap Growth Fund    February 12, 2010
Invesco Oppenheimer V.I. Capital Appreciation Fund    May 24, 2019
Invesco Oppenheimer V.I. Conservative Balanced Fund    May 24, 2019
Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund    May 24, 2019
Invesco Oppenheimer V.I. Global Fund    May 24, 2019
Invesco Oppenheimer V.I. Global Strategic Income Fund    May 24, 2019
Invesco Oppenheimer V.I. Government Money Fund    May 24, 2019
Invesco Oppenheimer V.I. International Growth Fund    May 24, 2019
Invesco Oppenheimer V.I. Main Street Fund®    May 24, 2019
Invesco Oppenheimer V.I. Main Street Small Cap Fund®    May 24, 2019
Invesco Oppenheimer V.I. Total Return Bond Fund    May 24, 2019
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. Value Opportunities Fund    September 10, 2001

 

2


APPENDIX B

COMPENSATION TO THE ADVISOR

The Trust shall pay the Adviser, out of the assets of a Fund, as full compensation for all services rendered, an advisory fee for such Fund set forth below. Such fee shall be calculated by applying the following annual rates to the average daily net assets of such Fund for the calendar year computed in the manner used for the determination of the net asset value of shares of such Fund.

Invesco V.I. Balanced-Risk Allocation Fund

 

Net Assets

   Annual Rate*  

First $250 million

     0.95

Next $250 million

     0.925

Next $500 million

     0.90

Next $1.5 billion

     0.875

Next $2.5 billion

     0.85

Next $2.5 billion

     0.825

Next $2.5 billion

     0.80

Over $10 billion

     0.775

 

*

To the extent Invesco V.I. Balanced-Risk Allocation Fund invests its assets in Invesco Cayman Commodity Fund IV Ltd., a direct wholly-owned subsidiary of Invesco V.I. Balanced-Risk Allocation Fund, the Adviser shall not collect the portion of the advisory fee that the Adviser would otherwise be entitled to collect from Invesco V.I. Balanced-Risk Allocation Fund, in an amount equal to 100% of the advisory fee that the Adviser receives from Invesco Cayman Commodity Fund IV Ltd.

Invesco V.I. Value Opportunities Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.695

Next $250 million

     0.67

Next $500 million

     0.645

Next $1.5 billion

     0.62

Next $2.5 billion

     0.595

Next $2.5 billion

     0.57

Next $2.5 billion

     0.545

Over $10 billion

     0.52

Invesco V.I. Core Equity Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.65

Over $250 million

     0.60

Invesco V.I. Core Plus Bond Fund

 

Net Assets

   Annual Rate  

First $500 million

     0.450

Next $500 million

     0.425

Next $1.5 billion

     0.400

Next $2.5 billion

     0.375

Over $5 billion

     0.350

Invesco V.I. Small Cap Equity Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.745

Next $250 million

     0.73

Next $500 million

     0.715

Next $1.5 billion

     0.70

Next $2.5 billion

     0.685

Next $2.5 billion

     0.67

Next $2.5 billion

     0.655

Over $10 billion

     0.64

 

3


Invesco V.I. Health Care Fund

Invesco V.I. Global Real Estate Fund

Invesco V.I. Technology Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.75

Next $250 million

     0.74

Next $500 million

     0.73

Next $1.5 billion

     0.72

Next $2.5 billion

     0.71

Next $2.5 billion

     0.70

Next $2.5 billion

     0.69

Over $10 billion

     0.68

Invesco V.I. Government Securities Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.50

Over $250 million

     0.45

Invesco V.I. High Yield Fund

 

Net Assets

   Annual Rate  

First $200 million

     0.625

Next $300 million

     0.55

Next $500 million

     0.50

Over $1 billion

     0.45

Invesco V.I. International Growth Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.75

Over $250 million

     0.70

Invesco V.I. Mid Cap Core Equity Fund

 

Net Assets

   Annual Rate  

First $500 million

     0.725

Next $500 million

     0.700

Next $500 million

     0.675

Over $1.5 billion

     0.65

Invesco V.I. Government Money Market Fund

 

Net Assets

   Annual Rate  

All Assets

     0.15

Invesco V.I. Managed Volatility Fund

 

Net Assets

   Annual Rate  

All Assets

     0.60

Invesco V.I. Diversified Dividend Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.545

Next $750 million

     0.42

Next $1 billion

     0.395

Over $2 billion

     0.37

 

4


Invesco V.I. Global Core Equity Fund

 

Net Assets

   Annual Rate  

First $1 billion

     0.67

Next $500 million

     0.645

Next $1 billion

     0.62

Next $1 billion

     0.595

Next $1 billion

     0.57

Over $4.5 billion

     0.545

Invesco V.I. S&P 500 Index Fund

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

 

Net Assets

   Annual Rate  

First $2 billion

     0.12

Over $2 billion

     0.10

Invesco V.I. American Franchise Fund

 

Net Assets

   Annual Rate  

First $250 million

     0.695

Next $250 million

     0.67

Next $500 million

     0.645

Next $550 million

     0.62

Next $3.45 billion

     0.60

Next $250 million

     0.595

Next $2.25 billion

     0.57

Next $2.5 billion

     0.545

Over $10 billion

     0.52

Invesco V.I. Comstock Fund

Invesco V.I. Growth and Income Fund

 

Net Assets

   Annual Rate  

First $500 million

     0.60

Over $500 million

     0.55

Invesco V.I. Equity and Income Fund

 

Net Assets

   Annual Rate  

First $150 million

     0.50

Next $100 million

     0.45

Next $100 million

     0.40

Over $350 million

     0.35

Invesco V.I. Mid Cap Growth Fund

 

Net Assets

   Annual Rate  

First $500 million

     0.75

Next $500 million

     0.70

Over $1 billion

     0.65

Invesco V.I. American Value Fund

 

Net Assets

   Annual Rate  

First $1 billion

     0.72

Over $1 billion

     0.65 %” 

 

5


Invesco Oppenheimer V.I. Capital Appreciation Fund*

 

Net Assets

   Annual Rate  

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Next $200 million

     0.600

Over $1 billion

     0.580

Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund*

 

Net Assets

   Annual Rate  

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Next $700 million

     0.600

Over $1.5 billion

     0.580

Invesco Oppenheimer V.I. Conservative Balanced Fund*

 

Net Assets

   Annual Rate  

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Over $800 million

     0.600

Invesco Oppenheimer V.I. Global Fund*

 

Net Assets

   Annual Rate  

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Next $4.2 billion

     0.600

Over $5 billion

     0.580

Invesco Oppenheimer V.I. Global Strategic Income Fund*

 

Net Assets

   Annual Rate**  

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Next $200 million

     0.600

Next $4 billion

     0.500

Over $5 billion

     0.480

 

**

To the extent Invesco Oppenheimer Global Strategic Income Fund invests its assets in Invesco Oppenheimer Global Strategic Income Fund (Cayman) Ltd., a direct wholly-owned subsidiary of Invesco Oppenheimer Global Strategic Income Fund, the Adviser shall not collect the portion of the advisory fee that the Adviser would otherwise be entitled to collect from Invesco Oppenheimer Global Strategic Income Fund, in an amount equal to 100% of the advisory fee that the Adviser receives from Invesco Oppenheimer Global Strategic Income Fund (Cayman) Ltd.

 

*

The advisory fee payable by the Fund shall be reduced by any amounts paid by such Fund under the Administrative Services Agreement between such Fund and Invesco Advisers, Inc.

 

6


Invesco Oppenheimer V.I. Government Money Fund*

 

Net Assets

   Annual Rate  

First $500 million

     0.450

Next $500 million

     0.425

Next $500 million

     0.400

Over $1.5 billion

     0.375

Invesco Oppenheimer V.I. International Growth Fund*

 

Net Assets

   Annual Rate  

First $200 million

     1.000

Next $300 million

     0.900

Next $500 million

     0.850

Over $1 billion

     0.820

Invesco Oppenheimer V.I. Main Street Fund®*

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

 

First $200 million

     0.750

Next $200 million

     0.720

Next $200 million

     0.690

Next $200 million

     0.660

Next $200 million

     0.600

Next $4 billion

     0.580

Over $5 billion

     0.560

Invesco Oppenheimer V.I. Total Return Bond Fund*

 

Net Assets

   Annual Rate  

First $1 billion

     0.600

Over $1 billion

     0.500 %” 

 

  2.

In all other respects, the Agreement is hereby confirmed and remains in full force and effect.

 

 

*

The advisory fee payable by the Fund shall be reduced by any amounts paid by such Fund under the Administrative Services Agreement between such Fund and Invesco Advisers, Inc.

 

7


IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers on the date first written above.

 

   

AIM VARIABLE INSURANCE FUNDS

   

(INVESCO VARIABLE INSURANCE FUNDS)

Attest:  

/s/ Peter Davidson

  By:  

/s/ Jeffrey H. Kupor

 

    Assistant Secretary

        (Jeffrey H. Kupor)
          Senior Vice President
    INVESCO ADVISERS, INC.
Attest:  

/s/ Peter Davidson

  By:  

/s/ Jeffrey H. Kupor

 

    Assistant Secretary

        (Jeffrey H. Kupor)
     

    Senior Vice President

 

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