SUB-ITEM 77M
MERGERS
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO V.I. HIGH YIELD SECURITIES FUND TO INVESCO V.I. HIGH YIELD FUND
On December 5, 2012, the Board of Trustees of AIM Variable Insurance Funds
(Invesco Variable Insurance Funds) ("AVIF") approved an Agreement and Plan of
Reorganization (the "Agreement"). On March 28, 2013, at a Special Meeting for
shareholders of Invesco V.I. High Yield Securities Fund (the "Target Fund"),
shareholders approved the Agreement that provided for the combination of the
Target Fund with Invesco V.I. High Yield Fund, (the "Acquiring Fund"), an
investment portfolio of AVIF (the "Reorganization"). Pursuant to the Agreement,
on April 29, 2013, all of the assets of the Target Fund were transferred to the
Acquiring Fund. The Acquiring Fund assumed all of the liabilities of the Target
Fund, and AVIF issued Series I shares of the Acquiring Fund to the Target
Fund's Series I shareholders and Series II shares of the Acquiring Fund to the
Target Fund's Series II shareholders. The total value of the Acquiring Fund
shares of each class that shareholders received in the Reorganization was the
same as the total value of shares of the corresponding class of the Target Fund
that shareholders held immediately prior to the Reorganization. The
Reorganization was structured as a tax-free transaction. No sales charges or
redemption fees were imposed in connection with the Reorganization.
FOR A MORE DETAILED DISCUSSION ON THE REORGANIZATION, PLEASE SEE THE AGREEMENT
AND PLAN OF REORGANIZATION FILED HEREIN UNDER ITEM 77Q1(g).
