AMENDMENT NO. 25
AMENDMENT NO. 25
TO
MASTER INVESTMENT ADVISORY AGREEMENT
This Amendment dated as of May 15, 2020, amends the Master Investment Advisory Agreement (the "Agreement") dated June 5, 2000, between AIM Growth Series (Invesco Growth Series), 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 remove (i) reduce the contractual advisory fee schedule of Invesco Oppenheimer Main Street Mid Cap Fund® and Invesco Quality Income Fund (ii) remove Invesco Mid Cap Core Equity Fund, Invesco International Allocation Fund and Invesco Moderate Allocation Fund (iii) change the name of Invesco Conservative Allocation Fund to Invesco Select Risk: Moderately Conservative Investor Fund, Invesco Growth Allocation Fund to Invesco Select Risk: Growth Investor Fund, Invesco Oppenheimer Portfolio Series: Active Allocation Fund to Invesco Active Allocation Fund, Invesco Oppenheimer Portfolio Series: Conservative Investor Fund to Invesco Select Risk: Conservative Investor Fund, Invesco Oppenheimer Portfolio Series: Growth Investor Fund to Invesco Select Risk: High Growth Investor Fund and Invesco Oppenheimer Portfolio Series: Moderate Investor Fund to Invesco Select Risk: Moderate Investor 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
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Name of Fund |
Effective Date of Advisory Agreement |
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Invesco Balanced-Risk Retirement Now Fund |
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January 31, 2007 |
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Invesco Balanced-Risk Retirement 2020 Fund |
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January 31, 2007 |
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Invesco Balanced-Risk Retirement 2030 Fund |
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January 31, 2007 |
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Invesco Balanced-Risk Retirement 2040 Fund |
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January 31, 2007 |
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Invesco Balanced-Risk Retirement 2050 Fund |
|
January 31, 2007 |
|
Invesco Global Low Volatility Equity Yield Fund |
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November 4, 2003 |
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Invesco Select Risk: Growth Investor Fund |
|
April 30, 2004 |
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Invesco Income Allocation Fund |
|
October 31, 2005 |
|
Invesco Select Risk: Moderately Conservative Investor Fund |
April 29, 2005 |
|
|
Invesco Small Cap Growth Fund |
|
September 11, 2000 |
|
Invesco Oppenheimer International Diversified Fund |
|
May 24, 2019 |
|
Invesco Oppenheimer Main Street Mid Cap Fund® |
|
May 24, 2019 |
|
Invesco Oppenheimer Main Street Small Cap Fund® |
May 24, 2019 |
|
Invesco Oppenheimer Master Event-Linked Bond Fund |
May 24, 2019 |
|
Invesco Active Allocation Fund |
May 24, 2019 |
|
Invesco Select Risk: Conservative Investor Fund |
May 24, 2019 |
|
Invesco Select Risk: High Growth Investor Fund |
May 24, 2019 |
|
Invesco Select Risk: Moderate Investor Fund |
May 24, 2019 |
|
Invesco Peak Retirement™ 2015 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2020 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2025 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2030 Fund |
December 18, 2017 |
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Invesco Peak Retirement™ 2035 Fund |
December 18, 2017 |
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Invesco Peak Retirement™ 2040 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2045 Fund |
December 18, 2017 |
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Invesco Peak Retirement™ 2050 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2055 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2060 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ 2065 Fund |
December 18, 2017 |
|
Invesco Peak Retirement™ Now Fund |
December 18, 2017 |
|
Invesco Convertible Securities Fund |
February 12, 2010 |
|
Invesco Quality Income Fund |
February 12, 2010 |
2
APPENDIX B
COMPENSATION TO THE ADVISOR
The Trust shall pay the Advisor, 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 Balanced-Risk Retirement Now Fund
Invesco Balanced-Risk Retirement 2020 Fund
Invesco Balanced-Risk Retirement 2030 Fund
Invesco Balanced-Risk Retirement 2040 Fund
Invesco Balanced-Risk Retirement 2050 Fund
Invesco Select Risk: Moderately Conservative Investor Fund
Invesco Select Risk: Growth Investor Fund
Invesco Income Allocation Fund
These eleven funds do not pay an advisory fee.
|
|
Invesco Global Low Volatility Equity Yield Fund |
|
Net Assets |
Annual Rate |
|
First $250 million |
.......................................................................................................................... 0.80% |
|
Next $250 million |
.......................................................................................................................... 0.78% |
|
Next $500 million |
.......................................................................................................................... 0.76% |
|
Next $1.5 billion |
............................................................................................................................0.74% |
|
Next $2.5 billion |
............................................................................................................................0.72% |
|
Next $2.5 billion |
............................................................................................................................0.70% |
|
Next $2.5 billion |
............................................................................................................................0.68% |
|
Over $10 billion |
............................................................................................................................0.66% |
|
|
Invesco Small Cap Growth Fund |
|
Net Assets |
Annual Rate |
|
First $500 million |
.......................................................................................................................... 0.725% |
|
Next $500 million |
.......................................................................................................................... 0.70% |
|
Next $500 million |
.......................................................................................................................... 0.675% |
|
Over $1.5 billion |
0.65% |
|
|
Invesco Convertible Securities Fund |
|
Net Assets |
Annual Rate |
|
First $750 million |
.......................................................................................................................... 0.52% |
|
Next $250 million |
.......................................................................................................................... 0.47% |
|
Next $500 million |
.......................................................................................................................... 0.42% |
|
Next $500 million |
.......................................................................................................................... 0.395% |
|
Next $1 billion |
...............................................................................................................................0.37% |
|
Over $3 billion |
..............................................................................................................................0.345% |
0
|
|
Xxxxxxx Xxxxxxxxxxx Xxxx Xxxxxx Xxx Xxx Fund®* |
|
Net Assets |
Annual Rate |
|
First $200 million |
.......................................................................................................................... 0.735% |
|
Next $200 million |
.......................................................................................................................... 0.73% |
|
Next $200 million |
.......................................................................................................................... 0.69% |
|
Next $200 million |
.......................................................................................................................... 0.66% |
|
Next $4.2 billion |
............................................................................................................................0.60% |
|
Over $5 billion |
..............................................................................................................................0.58% |
|
|
Invesco Oppenheimer Main Street Small Cap Fund®* |
|
Net Assets |
Annual Rate |
|
First $200 million |
.......................................................................................................................... 0.75% |
|
Next $200 million |
.......................................................................................................................... 0.72% |
|
Next $200 million |
.......................................................................................................................... 0.69% |
|
Next $200 million |
.......................................................................................................................... 0.66% |
|
Next $4.2 billion |
............................................................................................................................0.60% |
|
Over $5 billion |
..............................................................................................................................0.58% |
|
|
Invesco Oppenheimer Master Event-Linked Bond Fund* |
|
Net Assets |
Annual Rate |
|
All Assets |
......................................................................................................................................0.40% |
|
|
Invesco Active Allocation Fund* |
|
Net Assets |
Annual Rate |
|
First $3 billion |
...............................................................................................................................0.10% |
|
Over $3 billion |
..............................................................................................................................0.08% |
Invesco Oppenheimer International Diversified Fund
Invesco Select Risk: Conservative Investor Fund
Invesco Select Risk: High Growth Investor Fund
Invesco Select Risk: Moderate Investor Fund
These four funds do not pay an advisory fee.
*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.
4
Invesco Peak Retirement™ 2015 Fund
Invesco Peak Retirement™ 2020 Fund
Invesco Peak Retirement™ 2025 Fund
Invesco Peak Retirement™ 2030 Fund
Invesco Peak Retirement™ 2035 Fund
Invesco Peak Retirement™ 2040 Fund
Invesco Peak Retirement™ 2045 Fund
Invesco Peak Retirement™ 2050 Fund
Invesco Peak Retirement™ 2055 Fund
Invesco Peak Retirement™ 2060 Fund
Invesco Peak Retirement™ 2065 Fund
Invesco Peak Retirement™ Now Fund
These twelve funds do not pay an advisory fee.
|
|
Invesco Quality Income Fund |
|
Net Assets |
Annual Rate |
|
First $100 million |
0.47% |
|
Next $150 million |
0.44% |
|
Next $250 million |
0.4125% |
|
Next $2 billion |
0.3825% |
|
Next $2.5 billion |
0.38% |
|
Next $2.5 billion |
0.365% |
|
Next $2.5 billion |
0.34% |
|
Next $2.5 billion |
0.295% |
|
Over $12.5 billion |
0.27%" |
2.In all other respects, the Agreement is hereby confirmed and remains in full force and effect.
5
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective officers on the date first written above.
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AIM GROWTH SERIES |
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(INVESCO GROWTH SERIES) |
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Attest: |
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By: |
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Assistant Secretary |
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Xxxxxxx X. Xxxxx |
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Secretary, Senior Vice President and |
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Chief Legal Officer |
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INVESCO ADVISERS, INC. |
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Attest: |
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By: |
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Assistant Secretary |
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Xxxxxxx X. Xxxxx |
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Senior Vice President & Secretary |
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