AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
This is an Amendment to the Investment Advisory Agreement made and entered
into between INVESCO Specialty Funds, Inc. a Maryland corporation (the
"Company") and INVESCO Funds Group, Inc., a Delaware corporation (the "Adviser")
on the 28th day February, 1997 (the "Agreement").
WHEREAS, the Company and the Adviser are affiliated companies; and
WHEREAS, the Company desires to add additional breakpoints to the existing
advisory fees that it pays to the Adviser for the management of the Company's
separate portfolios of investments, the INVESCO Asian Growth Fund, the INVESCO
European Small Company Fund, the INVESCO Latin American Growth Fund, the INVESCO
Realty Fund and the S&P 500 Index Fund (Classes I & II), the INVESCO Worldwide
Capital Goods Fund, and the INVESCO Worldwide Communication Fund (each a
"Portfolio");
NOW, THEREFORE, in consideration of the premises and mutual covenants
contained in the Agreement, it is agreed that the first paragraph of the
provisions in paragraph 4 of the Agreement entitled "Compensation of the
Adviser" is hereby amended to read as follows:
For the services rendered and the charges and expenses to be assumed
by the Adviser hereunder, the Company shall pay to the Adviser an advisory
fee which will be computed on a daily basis and paid as of the last day of
each month, using for each daily calculation the most recently determined
net asset value of each Fund of the Company, as determined by valuations
made in accordance with each Fund's procedure for calculating the Fund's
net asset value as described in the Fund(s)' Prospectus and/or Statement
of Additional Information. On an annual basis, the advisory fee applicable
to each of the Funds shall be as follows:
(a) INVESCO Worldwide Capital Goods Fund and INVESCO Worldwide
Communications Fund: 0.65% of the first $500 million of each Fund's
average net assets, 0.55% of the next $500 million of each Fund's
average net assets, 0.45% of each Fund's average net assets from $1
billion, 0.40% of each Fund's average net assets from $4 billion,
0.375% of each Fund's average net assets from $6 billion, and 0.35% of
each Fund's average net assets over $8 billion.
(b) INVESCO Latin American Growth Fund, INVESCO European Small Company
Fund and INVESCO Asian Growth Fund: 0.75% of the first $500 million of
each Fund's average net assets, 0.65% of the next $500 million of each
Fund's average net assets, 0.55% of each Fund's average net assets
from $1 billion, 0.45% of each Fund's average net assets from $2
billion, 0.40% of each Fund's average net assets from $4 billion,
0.375% of each Fund's average net assets from $6 billion, and 0.35% of
each Fund's average net assets over $8 billion.
(c) INVESCO Realty Fund: 0.75% of the first $500 million of the Fund's
average net assets, 0.65% of the next $500 million of the Fund's
average net assets, 0.55% of the Fund's average net assets from $1
billion, 0.45% of the Fund's average net assets from $2 billion, 0.40%
of the Fund's average net assets from $4 billion, 0.375% of the Fund's
average net assets from $6 billion, and 0.35% of the Fund's average
net assets over $8 billion.
(d) INVESCO S&P 500 Index Fund (Classes I & II): 0.25% of all of each
Fund's average net assets.
IN WITNESS WHEREOF, the parties have executed this Agreement effective as of
the 13th day of May, 1999.
INVESCO FUNDS GROUP, INC.
By: /s/ Xxxx X. Xxxxxxxxxx
----------------------
Xxxx X. Xxxxxxxxxx
President
ATTEST:
/s/ Xxxx X. Xxxxx
-----------------
Xxxx X. Xxxxx
Secretary
INVESCO SPECIALTY FUNDS, INC.
By: /s/ Xxxxxx X. Xxxxxx
---------------------------
Xxxxxx X. Xxxxxx
Treasurer & Chief Financial
Officer & Accounting Officer
ATTEST:
/s/ Xxxx X. Xxxxx
-----------------
Xxxx X. Xxxxx
Secretary
