MEMORANDUM OF AGREEMENT (Expense Limitations)

 

MEMORANDUM OF AGREEMENT

(Expense Limitations)

 

This Memorandum of Agreement is entered into as of the Effective Date on the attached exhibits (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 Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Exchange Fund, Invesco Management Trust and Short-Term Investments 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 or reimburse expenses of each Fund, on behalf of its respective classes as applicable, severally and not jointly, as indicated in the attached 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, the Trusts and Invesco agree as follows:

 

For the expense limitations identified on Exhibit A (“Expense Limitations”) and the boundary expense limitations on Exhibit B (“Boundary Limits”), Invesco agrees until at least the expiration date set forth on Exhibit A (each, an “Expiration Date”) for the Expense Limitations, and for an indefinite period until further notice to the Board of Trustees for the Boundary Limits, that Invesco will waive its fees or reimburse expenses to the extent that expenses of a class of a Fund (excluding (i) interest; (ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary or non-routine items, including litigation expenses; and (v) expenses that each Fund has incurred but did not actually pay because of an expense offset arrangement, if applicable) exceed the Expense Limitation or Boundary Limit rate, on an average of the daily net assets allocable to such class on an annualized basis1.

 

Expense Limitations: Neither a Trust nor Invesco may remove or amend the Expense Limitations to a Fund’s detriment prior to the Expiration Date without requesting and receiving the approval of the Board of Trustees of the applicable Fund’s Trust to remove or amend such Expense Limitations. Invesco will not have any right to reimbursement of any amount so waived or reimbursed. For the Expense Limitations, Xxxxxxx agrees to review the then-current expense limitations for each class of each Fund listed on the Exhibits on a date prior to the Expiration Date to determine whether such limitations should be amended, continued or terminated. The expense limitations will expire upon the Expiration Date unless Invesco has agreed to continue them. The Exhibits will be amended to reflect any such agreement.

 

Boundary Limits: From time to time, Invesco may establish amend and/or terminate Boundary Limits at any time in its sole discretion. Invesco will inform the Board of Trustees of any such changes. These Boundary Limits are set forth on Exhibit B. Any delay or failure by Invesco to update this Memorandum of Agreement with regards to the terminations, extensions, or expirations of the Boundary Limits shall have no effect on such Boundary Limits; the Boundary Limits are listed herein for informational purposes only.

 

It is expressly agreed that the obligations of each Trust 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 each Fund, 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 the Trusts, and this Memorandum of Agreement has been executed and delivered by an authorized officer of the Trusts 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.

 

 

1 Acquired fund fees and expenses are not fees or expenses incurred by a Fund directly but are expenses of the investment companies in which a Fund invests. These fees and expenses are incurred indirectly through the valuation of a Fund’s investment in these investment companies. Acquired fund fees and expenses are required to be disclosed and included in the total annual Fund operating expenses in the prospectus fee table. As a result, the net total annual Fund operating expenses shown in the prospectus fee table may exceed the expense limits reflected in Exhibit A.

 

 

 

 

IN WITNESS WHEREOF, each of the Trusts, on behalf of itself and its Funds listed on the Exhibits to this Memorandum of Agreement, and Invesco have entered into this Memorandum of Agreement as of the Effective Dates 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 VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

INVESCO EXCHANGE FUND

INVESCO MANAGEMENT TRUST

SHORT-TERM INVESTMENTS TRUST

on behalf of the Funds listed on the Exhibits

to this Memorandum of Agreement

 

  By:  /s/ Xxxxxxx Xxxxxxx  
  Title:  Senior Vice President  
     
  Invesco Advisers, Inc.  
     
  By:  /s/ Xxxxxx Xxxxxxxxx  
  Title:  Vice President  

 

 

 

 

EXHIBIT A1

Expense Limitations

 

AIM Counselor Series Trust (Invesco Counselor Series Trust)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Core Plus Bond Fund           
Class A Shares   0.75%  December 16, 2016  December 31, 2025
Class C Shares   1.50%  December 16, 2016  December 31, 2025
Class R Shares   1.00%  December 16, 2016  December 31, 2025
Class R5 Shares   0.50%  December 16, 2016  December 31, 2025
Class R6 Shares   0.50%  December 16, 2016  December 31, 2025
Class Y Shares   0.50%  December 16, 2016  December 31, 2025
            
Invesco NASDAQ 100 Index Fund           
Class R6 Shares   0.29%  October 13, 2020  December 31, 2025
            
Invesco Senior Floating Rate Fund           
Class A Shares   1.03%  January 1, 2025  December 31, 2025
Class C Shares   1.78%  January 1, 2025  December 31, 2025
Class R Shares   1.28%  January 1, 2025  December 31, 2025
Class R5 Shares   0.78%  January 1, 2025  December 31, 2025
Class R6 Shares   0.78%  January 1, 2025  December 31, 2025
Class Y Shares   0.78%  January 1, 2025  December 31, 2025
            
Invesco Senior Floating Rate Fund           
Class A Shares   1.02%  January 1, 2023  December 31, 2024
Class C Shares   1.77%  January 1, 2023  December 31, 2024
Class R Shares   1.27%  January 1, 2023  December 31, 2024
Class R5 Shares   0.77%  January 1, 2023  December 31, 2024
Class R6 Shares   0.77%  January 1, 2023  December 31, 2024
Class Y Shares   0.77%  January 1, 2023  December 31, 2024
            
Invesco SMA Municipal Bond Fund Shares   0.00%  February 13, 2023  None. This is a permanent expense limit.

 

AIM Funds Group (Invesco Funds Group)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco EQV International Small Company Fund           
Class A Shares   1.55%  April 26, 2024  April 30, 2026
Class C Shares   2.30%  April 26, 2024  April 30, 2026
Class R5 Shares   1.30%  April 26, 2024  April 30, 2026
Class R6 Shares   1.30%  April 26, 2024  April 30, 2026
Class Y Shares   1.30%  April 26, 2024  April 30, 2026

 

 

 

 

AIM Growth Series (Invesco Growth Series)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Income Advantage International Fund           
Class A Shares   1.28%  May 1, 2024  April 30, 2026
Class C Shares   2.03%  May 1, 2024  April 30, 2026
Class R Shares   1.53%  May 1, 2024  April 30, 2026
Class R5 Shares   1.03%  May 1, 2024  April 30, 2026
Class R6 Shares   1.03%  May 1, 2024  April 30, 2026
Class Y Shares   1.03%  May 1, 2024  April 30, 2026
            
Invesco Select Risk: Conservative Investor Fund           
Class A Shares   0.50%  May 28, 2019  April 30, 2026
Class C Shares   1.25%  May 28, 2019  April 30, 2026
Class R Shares   0.75%  May 28, 2019  April 30, 2026
Class R5 Shares   0.25%  May 1, 2022  April 30, 2026
Class R6 Shares   0.25%  May 1, 2022  April 30, 2026
Class Y Shares   0.25%  May 28, 2019  April 30, 2026
            
Invesco Select Risk: High Growth Investor Fund           
Class A Shares   0.45%  May 28, 2019  April 30, 2026
Class C Shares   1.20%  May 28, 2019  April 30, 2026
Class R Shares   0.70%  May 28, 2019  April 30, 2026
Class R5 Shares   0.20%  May 1, 2022  April 30, 2026
Class R6 Shares   0.20%  May 1, 2022  April 30, 2026
Class Y Shares   0.20%  May 28, 2019  April 30, 2026
            
Invesco Select Risk: Moderate Investor Fund           
Class A Shares   0.47%  May 28, 2019  April 30, 2026
Class C Shares   1.22%  May 1, 2022  April 30, 2026
Class R Shares   0.72%  May 28, 2019  April 30, 2026
Class R5 Shares   0.22%  May 1, 2022  April 30, 2026
Class R6 Shares   0.22%  May 1, 2022  April 30, 2026
Class S Shares   0.37%  December 9, 2019  April 30, 2026
Class Y Shares   0.22%  May 28, 2019  April 30, 2026

 

AIM International Mutual Funds (Invesco International Mutual Funds)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Advantage International Fund           
Class A Shares   1.18%  March 1, 2024  February 28, 2026
Class C Shares   1.93%  March 1, 2024  February 28, 2026
Class R Shares   1.43%  March 1, 2024  February 28, 2026
Class R5 Shares   0.93%  March 1, 2024  February 28, 2026
Class R6 Shares   0.93%  March 1, 2024  February 28, 2026
Class Y Shares   0.93%  March 1, 2024  February 28, 2026
            
Invesco EQV International Equity Fund           
Class A Shares   1.30%  July 31, 2023  February 28, 2026
Class C Shares   2.05%  July 31, 2023  February 28, 2026
Class R Shares   1.55%  July 31, 2023  February 28, 2026
Class R5 Shares   1.05%  July 31, 2023  February 28, 2026
Class R6 Shares   1.05%  July 31, 2023  February 28, 2026
Class Y Shares   1.05%  July 31, 2023  February 28, 2026
            
Invesco MSCI World SRI Index Fund           
Class A Shares   0.44%  June 29, 2020  February 28, 2026
Class C Shares   1.19%  June 29, 2020  February 28, 2026
Class R Shares   0.69%  June 29, 2020  February 28, 2026
Class R5 Shares   0.19%  June 29, 2020  February 28, 2026
Class R6 Shares   0.19%  June 29, 2020  February 28, 2026
Class Y Shares   0.19%  June 29, 2020  February 28, 2026

 

 

 

 

AIM Investment Funds (Invesco Investment Funds)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Balanced-Risk Commodity Strategy Fund2           
Class A Shares   1.40% less net AFFE*   September 20, 2018  February 28, 2026
Class C Shares   2.15% less net AFFE*   September 20, 2018  February 28, 2026
Class R Shares   1.65% less net AFFE*   September 20, 2018  February 28, 2026
Class R5 Shares   1.15% less net AFFE*   September 20, 2018  February 28, 2026
Class R6 Shares   1.15% less net AFFE*   September 20, 2018  February 28, 2026
Class Y Shares   1.15% less net AFFE*   September 20, 2018  February 28, 2026
            
Invesco Core Bond Fund           
Class A Shares   0.70%  June 1, 2021  February 28, 2026
Class C Shares   1.45%  June 1, 2021  February 28, 2026
Class R Shares   0.95%  June 1, 2021  February 28, 2026
Class R5 Shares   0.45%  May 28, 2019  February 28, 2026
Class R6 Shares   0.45%  June 1, 2021  February 28, 2026
Class Y Shares   0.45%  May 28, 2019  February 28, 2026
            
Invesco Emerging Markets Local Debt Fund           
Class A Shares   1.20%  March 1, 2023  February 28, 2026
Class C Shares   1.95%  March 1, 2023  February 28, 2026
Class R Shares   1.45%  March 1, 2023  February 28, 2026
Class R5 Shares   0.95%  March 1, 2023  February 28, 2026
Class R6 Shares   0.95%  March 1, 2023  February 28, 2026
Class Y Shares   0.95%  March 1, 2023  February 28, 2026
            
Invesco Global Infrastructure Fund           
Class A Shares   1.25%  June 1, 2021  February 28, 2026
Class C Shares   2.00%  June 1, 2021  February 28, 2026
Class R Shares   1.50%  June 1, 2021  February 28, 2026
Class R5 Shares   1.00%  June 1, 2021  February 28, 2026
Class R6 Shares   1.00%  April 17, 2020  February 28, 2026
Class Y Shares   1.00%  June 1, 2021  February 28, 2026
            
Invesco International Bond Fund3           
Class A Shares   1.04%  March 1, 2023  February 28, 2026
Class C Shares   1.79%  March 1, 2023  February 28, 2026
Class R Shares   1.29%  March 1, 2023  February 28, 2026
Class R5 Shares   0.79%  March 1, 2023  February 28, 2026
Class R6 Shares   0.79%  March 1, 2023  February 28, 2026
Class Y Shares   0.79%  March 1, 2023  February 28, 2026
            
Invesco Macro Allocation Strategy Fund4           
Class A Shares   1.44%  January 1, 2017  February 28, 2026
Class C Shares   2.19%  January 1, 2017  February 28, 2026
Class R Shares   1.69%  January 1, 2017  February 28, 2026
Class R5 Shares   1.19%  January 1, 2017  February 28, 2026
Class R6 Shares   1.19%  January 1, 2017  February 28, 2026
Class Y Shares   1.19%  January 1, 2017  February 28, 2026
            
Invesco Multi-Asset Income Fund5           
Class A Shares   0.90%  March 1, 2023  February 28, 2025
Class C Shares   1.65%  March 1, 2023  February 28, 2025
Class R Shares   1.15%  March 1, 2023  February 28, 2025
Class R5 Shares   0.65%  March 1, 2023  February 28, 2025
Class R6 Shares   0.65%  March 1, 2023  February 28, 2025
Class Y Shares   0.65%  March 1, 2023  February 28, 2025
            
Invesco SteelPath MLP Alpha Fund           
Class A Shares   1.57%  April 1, 2024  March 31, 2026
Class C Shares   2.32%  April 1, 2024  March 31, 2026
Class R Shares   1.82%  April 1, 2024  March 31, 2026
Class R5 Shares   1.32%  April 1, 2024  March 31, 2026
Class R6 Shares   1.32%  April 1, 2024  March 31, 2026
Class Y Shares   1.32%  April 1, 2024  March 31, 2026
            
Invesco SteelPath MLP Alpha Plus Fund           
Class A Shares   1.83%  April 1, 2024  March 31, 2026
Class C Shares   2.58%  April 1, 2024  March 31, 2026
Class R Shares   2.08%  April 1, 2024  March 31, 2026
Class R5 Shares   1.58%  April 1, 2024  March 31, 2026
Class R6 Shares   1.58%  April 1, 2024  March 31, 2026
Class Y Shares   1.58%  April 1, 2024  March 31, 2026
            
Invesco SteelPath MLP Income Fund           
Class A Shares   1.42%  April 1, 2024  March 31, 2026
Class C Shares   2.17%  April 1, 2024  March 31, 2026
Class R Shares   1.67%  April 1, 2024  March 31, 2026
Class R5 Shares   1.17%  April 1, 2024  March 31, 2026
Class R6 Shares   1.17%  April 1, 2024  March 31, 2026
Class Y Shares   1.17%  April 1, 2024  March 31, 2026
            
Invesco SteelPath MLP Select 40 Fund           
Class A Shares   1.11%  April 1, 2024  March 31, 2025
Class C Shares   1.86%  April 1, 2024  March 31, 2025
Class R Shares   1.36%  April 1, 2024  March 31, 2025
Class R5 Shares   0.86%  April 1, 2024  March 31, 2025
Class R6 Shares   0.86%  April 1, 2024  March 31, 2025
Class Y Shares   0.86%  April 1, 2024  March 31, 2025

 

 

 

 

AIM Investment Securities Funds (Invesco Investment Securities Funds)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Intermediate Bond Factor Fund           
Class A Shares   0.52%  February 28, 2020  June 30, 2026
Class C Shares   1.27%  February 28, 2020  June 30, 2026
Class R Shares   0.77%  February 28, 2020  June 30, 2026
Class R5 Shares   0.27%  February 28, 2020  June 30, 2026
Class R6 Shares   0.27%  February 28, 2020  June 30, 2026
Class Y Shares   0.27%  February 28, 2020  June 30, 2026
            
Invesco Short Duration Inflation Protected Fund           
Class A Shares   0.55%  December 31, 2015  June 30, 2026
Class A2 Shares   0.45%  December 31, 2015  June 30, 2026
Class R5 Shares   0.30%  December 31, 2015  June 30, 2026
Class R6 Shares   0.30%  December 31, 2015  June 30, 2026
Class Y Shares   0.30%  December 31, 2015  June 30, 2026
            
Invesco SMA High Yield Bond Fund           
Shares   0.00%  March 1, 2023  None. This is a permanent expense limit.
            
Invesco U.S. Government Money Portfolio           
Class C Shares   1.58%  May 28, 2019  June 30, 2026
Class R Shares   1.08%  May 28, 2019  June 30, 2026
Class R6 Shares   0.48%  May 28, 2019  June 30, 2026
Class Y Shares   0.58%  May 28, 2019  June 30, 2026
Invesco Cash Reserve Shares   0.73%  May 28, 2019  June 30, 2026

 

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

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Environmental Focus Municipal Fund           
Class A Shares   0.81%  July 1, 2024  June 30, 2026
Class C Shares   1.56%  July 1, 2024  June 30, 2026
Class Y Shares   0.56%  July 1, 2024  June 30, 2026
Class R6 Shares   0.56%  July 1, 2024  June 30, 2026

 

 

 

 

Invesco Exchange Fund

 

Fund   Expense Limitation   Effective Date of
Current Limit		  Expiration Date
Invesco Exchange Fund      0.69%  September 13, 2024   December 31, 2024

 

Invesco Management Trust

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Conservative Income Fund           
Class A Shares   0.40%  April 2, 2018  December 31, 2025
Class R6 Shares   0.30%  June 1, 2021  December 31, 2025
Class Y shares   0.30%  June 1, 2021  December 31, 2025
Institutional Class   0.30%  January 1, 2018  December 31, 2025

 

Short-Term Investments Trust

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco Government & Agency Portfolio           
Cash Management Class   0.26%  June 1, 2016  December 31, 2025
CAVU Securities Class   0.18%  December 18, 2020  December 31, 2025
Corporate Class   0.21%  June 1, 2016  December 31, 2025
Institutional Class   0.18%  June 1, 2016  December 31, 2025
Personal Investment Class   0.73%  June 1, 2016  December 31, 2025
Private Investment Class   0.48%  June 1, 2016  December 31, 2025
Reserve Class   1.05%  June 1, 2016  December 31, 2025
Resource Class   0.34%  June 1, 2016  December 31, 2025
Premier Class   0.12%  May 28, 2024  December 31, 2025
            
Invesco Treasury Obligations Portfolio           
Cash Management Class   0.26%  June 1, 2016  December 31, 2025
Corporate Class   0.21%  June 1, 2016  December 31, 2025
Institutional Class   0.18%  June 1, 2016  December 31, 2025
Personal Investment Class   0.73%  June 1, 2016  December 31, 2025
Private Investment Class   0.43%  June 1, 2016  December 31, 2025
Reserve Class   1.05%  June 1, 2016  December 31, 2025
Resource Class   0.34%  June 1, 2016  December 31, 2025
            
Invesco Treasury Portfolio           
Cash Management Class   0.26%  June 1, 2016  December 31, 2025
CAVU Securities Class   0.18%  December 18, 2020  December 31, 2025
Corporate Class   0.21%  June 1, 2016  December 31, 2025
Institutional Class   0.18%  June 1, 2016  December 31, 2025
Personal Investment Class   0.73%  June 1, 2016  December 31, 2025
Private Investment Class   0.48%  June 1, 2016  December 31, 2025
Reserve Class   1.05%  June 1, 2016  December 31, 2025
Resource Class   0.34%  June 1, 2016  December 31, 2025

 

 

 

 

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

 

Fund  Expense
Limitation		   Effective Date of
Current Limit		  Expiration
Date
Invesco V.I. Capital Appreciation Fund           
Series I Shares   0.80%  May 28, 2019  April 30, 2026
Series II Shares   1.05%  May 28, 2019  April 30, 2026
            
Invesco Xxxxxxxxxxx V.I. International Growth Fund           
Series I Shares   1.00%  May 28, 2019  April 30, 2026
Series II Shares   1.25%  May 28, 2019  April 30, 2026
            
Invesco V.I. Main Street Fund®           
Series I Shares   0.80%  May 28, 2019  April 30, 2026
Series II Shares   1.05%  May 28, 2019  April 30, 2026
            
Invesco V.I. Balanced-Risk Allocation Fund6           
Series I Shares   0.88% less net AFFE*   May 1, 2022  April 30, 2026
Series II Shares   1.13% less net AFFE*   May 1, 2022  April 30, 2026
            
Invesco V.I. Core Plus Bond Fund           
Series I Shares   0.61%  April 30, 2015  April 30, 2026
Series II Shares   0.86%  April 30, 2015  April 30, 2026
            
Invesco V.I. NASDAQ 100 Buffer Fund – March           
Series I Shares   0.70%  March 31, 2022  April 30, 2026
Series II Shares   0.95%  March 31, 2022  April 30, 2026
            
Invesco V.I. NASDAQ 100 Buffer Fund – June           
Series I Shares   0.70%  June 30, 2022  April 30, 2026
Series II Shares   0.95%  June 30, 2022  April 30, 2026
            
Invesco V.I. NASDAQ 100 Buffer Fund – September           
Series I Shares   0.70%  September 30, 2021  April 30, 2026
Series II Shares   0.95%  September 30, 2021  April 30, 2026
            
Invesco V.I. NASDAQ 100 Buffer Fund – December           
Series I Shares   0.70%  December 31, 2021  April 30, 2026
Series II Shares   0.95%  December 31, 2021  April 30, 2026
            
Invesco V.I. S&P 500 Buffer Fund – March           
Series I Shares   0.70%  March 31, 2022  April 30, 2026
Series II Shares   0.95%  March 31, 2022  April 30, 2026
            
Invesco V.I. S&P 500 Buffer Fund – June           
Series I Shares   0.70%  June 30, 2022  April 30, 2026
Series II Shares   0.95%  June 30, 2022  April 30, 2026
            
Invesco V.I. S&P 500 Buffer Fund – September           
Series I Shares   0.70%  September 30, 2021  April 30, 2026
Series II Shares   0.95%  September 30, 2021  April 30, 2026
            
Invesco V.I. S&P 500 Buffer Fund – December           
Series I Shares   0.70%  December 31, 2021  April 30, 2026
Series II Shares   0.95%  December 31, 2021  April 30, 2026

 

*Acquired Fund Fees and Expenses (“AFFE”) will be calculated as of the Fund’s fiscal year end according to Instruction 3(f) of Item 3 of Form N-1A. “Net AFFE” will be calculated by subtracting any waivers by Invesco associated with investments in affiliated funds, such as investments in affiliated money market funds, from the AFFE calculated in accordance with the preceding sentence. For clarity, the NET AFFE calculated as of the Fund’s fiscal year end will be used throughout the waiver period in establishing the Fund’s waiver amount, regardless of whether actual AFFE is more or less during the waiver period.

 

1The total operating expenses of any class of shares established after the date of this Memorandum of Agreement will be limited to the amount established for Class A Shares plus the difference between the new class 12b-1 rate and the Class A 12b-1 rate.

2Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund III, Ltd.

3Includes waived fees or reimbursed expenses that Invesco receives from Invesco International Bond Fund (Cayman) Ltd.

4Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund V, Ltd.

5Includes waived fees or reimbursed expenses that Invesco receives from Invesco Multi-Asset Income Fund Cayman Ltd.

6Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund IV, Ltd.

 

 

 

 

EXHIBIT B

Boundary Limits

 

Fund Name Limits
Global and International-Regional-Emerging Funds
Invesco Developing Markets Fund Invesco Global Core Equity Fund Invesco International Small-Mid Company Fund

Class A: 2.25%

Class C: 3.00%

Class R: 2.50%

Class R5: 2.00%

Class R6: 2.00%

Class Y: 2.00%

Investor: 2.25%

Series I: 2.25%

Series II: 2.50%

Invesco EQV Asia Pacific Equity Fund Invesco Global Focus Fund Invesco Xxxxxxxxxxx International Growth Fund
Invesco EQV Emerging Markets All Cap Fund Invesco Global Fund Invesco V.I. EQV International Equity Fund
Invesco EQV European Equity Fund Invesco Global Opportunities Fund Invesco V.I. Global Core Equity Fund
Invesco EQV European Small Company Fund Invesco Greater China Fund Invesco V.I. Global Fund
Invesco Global Allocation Fund Invesco International Diversified Fund  
Large-Multi, Small-Mid, Risk Parity and Sector Funds
Invesco American Franchise Fund Invesco Growth and Income Fund  Invesco Technology Fund

Class A: 2.00%

Class C: 2.75%

Class R: 2.25%

Class R5: 1.75%

Class R6: 1.75%

Class P: 1.85%

Class S: 1.90%

Class Y: 1.75%

Investor: 2.00%

Series I: 2.00%

Series II: 2.25%

Invesco Balanced-Risk Allocation Fund Invesco Health Care Fund  Invesco V.I. American Franchise Fund
Invesco Capital Appreciation Fund Invesco Income Advantage U.S. Fund  Invesco V.I. American Value Fund
Invesco Charter Fund Invesco Main Street All Cap Fund  Invesco V.I. Xxxxxxxx Fund
Invesco Xxxxxxxx Fund Invesco Main Street Fund  Invesco V.I. Core Equity Fund
Invesco Comstock Select Fund Invesco Main Street Mid Cap Fund  Invesco V.I. Discovery Mid Cap Growth Fund
Invesco Discovery Fund Invesco Main Street Small Cap Fund  Invesco V.I. Diversified Dividend Fund
Invesco Discovery Mid Cap Growth Fund Invesco Real Estate Fund  Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco Diversified Dividend Fund Invesco Rising Dividends Fund  Invesco V.I. Global Real Estate Fund
Invesco Dividend Income Fund Invesco S&P 500 Index Fund  Invesco V.I. Growth And Income Fund
Invesco Energy Fund Invesco Select Risk: Growth Investor Fund  Invesco V.I. Health Care Fund
Invesco Equally-Weighted S&P 500 Fund Invesco Small Cap Equity Fund  Invesco V.I. Main Street Mid Cap Fund
Invesco Fundamental Alternatives Fund Invesco Small Cap Growth Fund  Invesco V.I. Main Street Small Cap Fund
Invesco Global Real Estate Fund Invesco Small Cap Value Fund  Invesco V.I. Small Cap Equity Fund
Invesco Global Real Estate Income Fund Invesco SteelPath MLP Select 40 Fund5  Invesco V.I. Technology Fund
Invesco Gold & Special Minerals Fund  Invesco Summit Fund Invesco Value Opportunities Fund
Balanced and Fixed Income Funds
Invesco Active Allocation Fund Invesco Income Allocation Fund Invesco Rochester New York Municipals Fund

Class A: 1.50%

Class A2: 1.25%

Class C: 2.25%

Class R: 1.75%

Class R5: 1.25%

Class R6: 1.25%

Class S: 1.40%

Class Y: 1.25%

Investor: 1.50%

Class AX: 1.40%

Class CX: 2.15%

Cash Res.: 1.40%

Series I: 1.50%

Series II: 1.75%

Invesco AMT-Free Municipal Income Fund Invesco Intermediate Term Municipal Income Fund  Invesco Select Risk: Moderately Conservative Investor Fund
Invesco California Municipal Fund Invesco Limited Term California Municipal Fund  Invesco Short Duration High Yield Municipal Fund
Invesco Convertible Securities Fund Invesco Limited Term Municipal Income Fund  Invesco Short Term Bond Fund4
Invesco Corporate Bond Fund  Invesco Multi-Asset Income Fund6  Invesco Short Term Municipal Fund
Invesco Equity and Income Fund  Invesco Municipal Income Fund Invesco V.I. Equity and Income Fund
Invesco Floating Rate ESG Fund1  Invesco New Jersey Municipal Fund3  Invesco V.I. Global Strategic Income Fund
Invesco Global Strategic Income Fund  Invesco Pennsylvania Municipal Fund3  Invesco V.I. Government Money Market Fund
Invesco Government Money Market Fund2  Invesco Quality Income Fund  Invesco V.I. Government Securities Fund
Invesco High Yield Fund  Invesco Rochester Amt-Free New York Municipal Fund  Invesco V.I. High Yield Fund
Invesco High Yield Municipal Fund  Invesco Rochester Limited Term New York Municipal Fund Invesco V.I. U.S. Government Money Portfolio
Invesco Income Fund  Invesco Rochester Municipal Opportunities Fund3  

 

1Invesco Floating Rate ESG Fund Class C expense limit is 2.00%.

2Invesco Government Money Market Fund expense limit for Class A, C, R, and Investor Class are 1.45%, 2.00%, 1.65%, and 1.25%, respectively.

3Invesco New Jersey Municipal Fund, Invesco Pennsylvania Municipal Fund and Invesco Rochester Municipal Opportunities Fund, Class C expense limit is 2.15%.

4Invesco Short Term Bond expense limit for Class A and C is 1.40% and 1.75% respectively. The Class C expense limit shown is the expense limit after Rule 12b-1 fee waivers by Invesco Distributors, Inc.

5Boundary Limit will be effective April 1, 2025.

6Boundary Limit will be effective March 1, 2025.

 

 

 

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Filed: December 19th, 2024
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