Sub-Item 77Q1(e) MEMORANDUM OF AGREEMENT (ADVISORY FEE WAIVERS) This Memorandum of Agreement is entered into as of the effective date on the attached Exhibit A and B (each an "Exhibit" or, collectively the "Exhibits"), between AIM Counselor Series...

Sub-Item 77Q1(e)

MEMORANDUM OF AGREEMENT
(ADVISORY FEE WAIVERS)

This Memorandum of Agreement is entered into as of the effective date on the
attached Exhibit A and B (each an "Exhibit" or, collectively 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 Treasurer's Series Trust (Invesco Treasurer's Series Trust), AIM
Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Advantage
Municipal Income Trust II, Invesco Bond Fund, Invesco California Value
Municipal Income Trust, Invesco Dynamic Credit Opportunities Fund, Invesco
Exchange Fund, Invesco High Income 2023 Target Term Fund, Invesco High Income
Trust II, Invesco Management Trust, Invesco Municipal Income Opportunities
Trust, Invesco Municipal Opportunity Trust, Invesco Municipal Trust, Invesco
Pennsylvania Value Municipal Income Trust, Invesco Quality Municipal Income
Trust, Invesco Securities Trust, Invesco Senior Income Trust, Invesco Trust for
Investment Grade Municipals, Invesco Trust for Investment Grade New York
Municipals and Invesco Value Municipal Income 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 of the Funds, on
behalf of their respective classes as applicable, severally and not jointly, as
indicated in the 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, Invesco agrees that until at least the expiration date
set forth on Exhibit A (the "Expiration Date") and with respect to those Funds
listed on the Exhibit, Invesco will waive its advisory fees at the rate set
forth on the Exhibit.

1. Invesco agrees that until the expiration date, if any, of the commitment
set forth on the attached Exhibit B occurs, as such Exhibit B is amended
from time to time, Invesco will waive advisory fees payable by an
Investing Fund (defined below) in an amount equal to 100% of the net
advisory fee Invesco receives on the Uninvested Cash (defined below)
from the Affiliated Money Market Fund (defined below) in which the
Investing Fund invests (the "Waiver").

i. Invesco's Fund Accounting Group will calculate, and apply, the
Waiver monthly, based upon the average investment of Uninvested
Cash made by the Investing Fund during the previous month in an
Affiliated Money Market Fund.

ii. The Waiver will not apply to those Investing Funds that do not
charge an advisory fee, either due to the terms of their advisory
agreement, or as a result of contractual or voluntary fee waivers.

iii. The Waiver will not apply to cash collateral for securities lending.

For purposes of the paragraph above, the following terms shall have the
following meanings:

(a) "Affiliated Money Market Fund" - any existing or future Trust that
holds itself out as a money market fund and complies with Rule 2a-7
under the Investment Company Act of 1940, as amended;

(b) "Investing Fund" - any Fund investing Cash Balances and/or Cash
Collateral in an Affiliated Money Market Fund; and

(c) "Uninvested Cash" - cash available and uninvested by a Trust that
may result from a variety of sources, including dividends or
interest received on portfolio securities,

unsettled securities transactions, strategic reserves, matured
investments, proceeds from liquidation of investment securities,
dividend payments, or new investor capital.

2. Neither a Trust nor Invesco may remove or amend the Waiver to a Trust's
detriment prior to the Expiration Date without requesting and receiving
the approval of the Board of Trustee of the applicable Fund's Trust to
remove or amend such Waiver. Invesco will not have any right to
reimbursement of any amount so waived.

Subject to the foregoing paragraphs, Invesco agrees to review the
then-current waivers for each class of the Funds listed on the Exhibits on a
date prior to the Expiration Date to determine whether such waivers should be
amended, continued or terminated. The waivers will expire upon the Expiration
Date unless Invesco has agreed to continue them. The Exhibits will be amended
to reflect any such agreement.

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

IN WITNESS WHEREOF, each of the Trusts, on behalf of itself and its Funds
listed in Exhibit A and B to this Memorandum of Agreement, and Invesco have
entered into this Memorandum of Agreement as of the Effective Date on the
attached Exhibits.

AIM COUNSELOR SERIES TRUST (INVESCO INVESCO CALIFORNIA VALUE MUNICIPAL
COUNSELOR SERIES TRUST) INCOME TRUST
AIM EQUITY FUNDS (INVESCO EQUITY INVESCO DYNAMIC CREDIT OPPORTUNITIES
FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP) FUND
AIM GROWTH SERIES (INVESCO GROWTH INVESCO EXCHANGE FUND
SERIES) INVESCO HIGH INCOME 2023 TARGET TERM
AIM INTERNATIONAL MUTUAL FUNDS FUND
(INVESCO INTERNATIONAL MUTUAL FUNDS) INVESCO HIGH INCOME TRUST II
AIM INVESTMENT FUNDS (INVESCO INVESCO MANAGEMENT TRUST
INVESTMENT FUNDS) INVESCO MUNICIPAL INCOME OPPORTUNITIES
AIM INVESTMENT SECURITIES FUNDS TRUST
(INVESCO INVESTMENT SECURITIES FUNDS) INVESCO MUNICIPAL OPPORTUNITY TRUST
AIM SECTOR FUNDS (INVESCO SECTOR INVESCO MUNICIPAL TRUST
FUNDS) INVESCO PENNSYLVANIA VALUE MUNICIPAL
AIM TAX-EXEMPT FUNDS (INVESCO TAX- INCOME TRUST
EXEMPT FUNDS) INVESCO QUALITY MUNICIPAL INCOME TRUST
AIM TREASURER'S SERIES TRUST (INVESCO INVESCO SECURITIES TRUST
TREASURER'S SERIES TRUST) INVESCO SENIOR INCOME TRUST
AIM VARIABLE INSURANCE FUNDS (INVESCO INVESCO TRUST FOR INVESTMENT GRADE
VARIABLE INSURANCE FUNDS) MUNICIPALS
INVESCO ADVANTAGE MUNICIPAL INCOME INVESCO TRUST FOR INVESTMENT GRADE
TRUST II NEW YORK MUNICIPALS
INVESCO BOND FUND INVESCO VALUE MUNICIPAL INCOME TRUST

on behalf of the Funds listed in the Exhibit
to this Memorandum of Agreement

By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President

INVESCO ADVISERS, INC.

By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President

EXHIBIT A TO ADVISORY FEE MOA
AIM COUNSELOR SERIES TRUST
(INVESCO COUNSELOR SERIES
TRUST) WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION DATE
-------------------------- --------------------------------------- -------------- ---------------
Invesco Strategic Real Invesco will waive advisory fees in an
Return Fund amount equal to the advisory fees
earned on underlying affiliated
investments 4/30/2014 06/30/2018

AIM INVESTMENT FUNDS
(INVESCO INVESTMENT FUNDS WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION DATE
------------------------- --------------------------------------- -------------- ---------------
Invesco Balanced-Risk Invesco will waive advisory fees in an
Commodity Strategy amount equal to the advisory fees
Fund earned on underlying affiliated
investments 02/24/15 06/30/2018
Invesco
Global Invesco will waive advisory fees in an
Targeted amount equal to the advisory fees
Returns earned on underlying affiliated
Fund............... investments 12/17/2013 06/30/2018

AIM TREASURER'S SERIES
TRUST (INVESCO TREASURER'S
SERIES TRUST) WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION DATE
-------------------------- --------------------------------------- -------------- ---------------
Premier Portfolio Invesco will waive advisory fees in the
amount of 0.07% of the Fund's average
daily net assets 2/1/2011 12/31/2017
Premier
U.S.
Government Invesco will waive advisory fees in the
Money amount of 0.07% of the Fund's average
Portfolio.......... daily net assets 2/1/2011 12/31/2017
Premier Invesco will waive advisory fees in the
Tax-Exempt amount of 0.05% of the Fund's average
Portfolio.......... daily net assets 06/01/2016 12/31/2017

EXHIBIT "B"

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- ------------------- ---------------
Invesco American Franchise Fund February 12, 2010 June 30, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund February 12, 2010 June 30, 2018
Invesco Core Plus Bond Fund June 2, 2009 June 30, 2018
Invesco Equally-Weighted S&P 500 Fund February 12, 2010 June 30, 2018
Invesco Equity and Income Fund February 12, 2010 June 30, 2018
Invesco Floating Rate Fund July 1, 2007 June 30, 2018
Invesco Global Real Estate Income Fund July 1, 2007 June 30, 2018
Invesco Growth and Income Fund February 12, 2010 June 30, 2018
Invesco Low Volatility Equity Yield Fund July 1, 2007 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund February 12, 2010 June 30, 2018
Invesco S&P 500 Index Fund February 12, 2010 June 30, 2018
Invesco Short Duration High Yield
Municipal Fund September 30, 2015 June 30, 2018
Invesco Small Cap Discovery Fund February 12, 2010 June 30, 2018
Invesco Strategic Real Return Fund April 30, 2014 June 30, 2018

AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- ------------------- ---------------
Invesco Charter Fund July 1, 2007 June 30, 2018
Invesco Diversified Dividend Fund July 1, 2007 June 30, 0000
Xxxxxxx Xxxxxx Fund July 1, 2007 June 30, 2018
AIM FUNDS GROUP (INVESCO FUNDS GROUP)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco European Small Company Fund July 1, 2007 June 30, 2018
Invesco Global Core Equity Fund July 1, 2007 June 30, 2018
Invesco International Small Company Fund July 1, 2007 June 30, 2018
Invesco Small Cap Equity Fund July 1, 2007 June 30, 2018

AIM GROWTH SERIES (INVESCO GROWTH SERIES)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Alternative Strategies Fund October 14, 2014 June 30, 2018
Invesco Convertible Securities Fund February 12, 2010 June 30, 2018
Invesco Global Low Volatility Equity
Yield Fund July 1, 2007 June 30, 2018
Invesco Mid Cap Core Equity Fund July 1, 2007 June 30, 2018
Invesco Multi-Asset Inflation Fund October 14, 2014 June 30, 2018
Invesco Quality Income Fund February 12, 2010 June 30, 2018
Invesco Small Cap Growth Fund July 1, 2007 June 30, 2018

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Asia Pacific Growth Fund July 1, 2007 June 30, 2018
Invesco European Growth Fund July 1, 2007 June 30, 2018
Invesco Global Growth Fund July 1, 2007 June 30, 2018
Invesco Global Opportunities Fund August 3, 2012 June 30, 2018
Invesco Global Responsibility Equity Fund June 30, 2016 June 30, 2018
Invesco Global Small & Mid Cap Growth Fund July 1, 2007 June 30, 2018
Invesco International Companies Fund December 21, 2015 June 30, 2018
Invesco International Core Equity Fund July 1, 2007 June 30, 2018
Invesco International Growth Fund July 1, 2007 June 30, 2018
Invesco Select Opportunities Fund August 3, 2012 June 30, 2018

AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco All Cap Market Neutral Fund December 17, 2013 June 30, 2018
Invesco Balanced-Risk Allocation Fund/1/ May 29, 2009 June 30, 2018
Invesco Balanced-Risk Commodity Strategy
Fund/2/ November 29, 2010 June 30, 2018
Invesco Developing Markets Fund July 1, 2007 June 30, 2018
Invesco Emerging Markets Equity Fund May 11, 2011 June 30, 2018
Invesco Emerging Markets Flexible Bond
Fund/3/ June 14, 2010 June 30, 2018
Invesco Endeavor Fund July 1, 2007 June 30, 2018
Invesco Global Health Care Fund July 1, 2007 June 30, 2018
Invesco Global Infrastructure Fund May 2, 2014 June 30, 2018
Invesco Global Market Neutral Fund December 17, 2013 June 30, 2018
Invesco Global Targeted Returns Fund/5/ December 17, 2013 June 30, 2018
Invesco Greater China Fund July 1, 2007 June 30, 2018
Invesco Long/Short Equity Fund December 17, 2013 June 30, 2018
Invesco Low Volatility Emerging Markets
Fund December 17, 2013 June 30, 2018
Invesco Macro Allocation Strategy Fund/4/ September 25, 2012 June 30, 2018
Invesco Macro International Equity Fund December 17, 2013 June 30, 2018
Invesco Macro Long/Short Fund December 17, 2013 June 30, 2018
Invesco MLP Fund August 29, 2014 June 30, 2018
Invesco Multi-Asset Income Fund/6/ December 13, 2011 June 30, 2018
Invesco Pacific Growth Fund February 12, 2010 June 30, 2018
Invesco Select Companies Fund July 1, 2007 June 30, 2018
Invesco World Bond Fund July 1, 2007 June 30, 2018

AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------ ---------------
Invesco Corporate Bond Fund February 12, 2010 June 30, 2018
Invesco Global Real Estate Fund July 1, 2007 June 30, 2018
Invesco Government Money Market Fund July 1, 2007 June 30, 2018
Invesco High Yield Fund July 1, 2007 June 30, 2018
Invesco Real Estate Fund July 1, 2007 June 30, 2018
Invesco Short Duration Inflation
Protected Fund July 1, 2007 June 30, 2018
Invesco Short Term Bond Fund July 1, 2007 June 30, 0000
Xxxxxxx X.X. Government Fund July 1, 2007 June 30, 2018
--------
1 Advisory fees to be waived by Invesco for Invesco Balanced-Risk Allocation
Fund also include advisory fees that Invesco receives on the Uninvested Cash
from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
I, Ltd. invests.
2 Advisory fees to be waived by Invesco for Invesco Balanced-Risk Commodity
Strategy Fund also include advisory fees that Invesco receives on the
Uninvested Cash from the Affiliated Money Market Fund in which Invesco
Cayman Commodity Fund III, Ltd. invests.
3 Advisory fees to be waived by Invesco for Invesco Emerging Markets Flexible
Bond Fund also include advisory fees that Invesco receives on the Uninvested
Cash from the Affiliated Money Market Fund in which Invesco Emerging Markets
Flexible Bond Cayman, Ltd. invests.
4 Advisory fees to be waived by Invesco for Invesco Macro Allocation Strategy
Fund also include advisory fees that Invesco receives on the Uninvested Cash
from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
V, Ltd. invests.
5 Advisory fees to be waived by Invesco for Invesco Global Targeted Returns
Fund also include advisory fees that Invesco receives on the Uninvested Cash
from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
VII, Ltd. invests.

AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------------------------- ---------------
Invesco American
Value Fund February 12, 2010 June 30, 2018
Invesco Xxxxxxxx
Fund February 12, 2010 June 30, 2018
Invesco Energy Fund July 1, 2007 June 30, 2018
Invesco Dividend
Income Fund July 1, 2007 June 30, 2018
Invesco Gold &
Precious Metals
Fund July 1, 2007 June 30, 2018
Invesco Mid Cap
Growth Fund February 12, 2010 June 30, 2018
Invesco Small Cap
Value Fund February 12, 2010 June 30, 2018
Invesco Technology
Fund July 1, 2007 June 30, 2018
Invesco Technology
Sector Fund February 12, 2010 June 30, 2018
Invesco Value
Opportunities Fund February 12, 2010 June 30, 2018

AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------------------------- ---------------
Invesco High Yield
Municipal Fund February 12, 2010 June 30, 2018
Invesco
Intermediate Term
Municipal Income
Fund February 12, 2010 June 30, 2018
Invesco Municipal
Income Fund February 12, 2010 June 30, 2018
Invesco New York
Tax Free Income
Fund February 12, 2010 June 30, 2018
Invesco Tax-Exempt
Cash Fund July 1, 2007 June 30, 2018
Invesco Limited
Term Municipal
Income Fund July 1, 2007 June 30, 2018

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------------------------- ---------------
Invesco V.I.
American
Franchise Fund February 12, 2010 June 30, 2018
Invesco V.I.
American Value
Fund February 12, 2010 June 30, 2018
Invesco V.I.
Balanced-Risk
Allocation Fund/7/ December 22, 2010 June 30, 2018
Invesco V.I.
Xxxxxxxx Fund February 12, 2010 June 30, 2018
Invesco V.I. Core
Equity Fund July 1, 2007 June 30, 2018
Invesco V.I. Core
Plus Bond Fund April 30, 2015 June 30, 2018
Invesco V.I.
Diversified
Dividend Fund February 12, 2010 June 30, 2018
Invesco V.I.
Equally-Weighted
S&P 500 Fund February 12, 2010 June 30, 2018
Invesco V.I. Equity
and Income Fund February 12, 2010 June 30, 2018
Invesco V.I. Global
Core Equity Fund February 12, 2010 June 30, 2018
Invesco V.I. Global
Health Care Fund July 1, 2007 June 30, 2018
Invesco V.I. Global
Real Estate Fund July 1, 2007 June 30, 2018
Invesco V.I.
Government Money
Market Fund July 1, 2007 June 30, 2018
Invesco V.I.
Government
Securities Fund July 1, 2007 June 30, 2018
Invesco V.I. Growth
and Income Fund February 12, 2010 June 30, 2018
Invesco V.I. High
Yield Fund July 1, 2007 June 30, 2018
Invesco V.I.
International
Growth Fund July 1, 2007 June 30, 2018
Invesco V.I.
Managed
Volatility Fund July 1, 2007 June 30, 2018
Invesco V.I. Mid
Cap Core Equity
Fund July 1, 2007 June 30, 2018
Invesco V.I. Mid
Cap Growth Fund February 12, 2010 June 30, 2018
Invesco V.I. S&P
500 Index Fund February 12, 2010 June 30, 2018
Invesco V.I. Small
Cap Equity Fund July 1, 2007 June 30, 2018
Invesco V.I.
Technology Fund July 1, 2007 June 30, 2018
Invesco V.I. Value
Opportunities Fund July 1, 2007 June 30, 2018

/7/ Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk
Allocation Fund also include advisory fees that Invesco receives on the
Uninvested Cash from the Affiliated Money Market Fund in which Invesco
Cayman Commodity Fund IV, Ltd. invests.

INVESCO EXCHANGE FUND

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Exchange Fund September 30, 2015 June 30, 2018

INVESCO SECURITIES TRUST

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Balanced-Risk Aggressive
Allocation Fund/8/ January 16, 2013 June 30, 2018

INVESCO MANAGEMENT TRUST

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Conservative Income Fund July 1, 2014 June 30, 2018

CLOSED-END FUNDS

FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------- ---------------
Invesco Advantage Municipal Income Trust
II May 15, 2012 June 30, 2018
Invesco Bond Fund August 26, 2015 June 30, 0000
Xxxxxxx Xxxxxxxxxx Value Municipal Income
Trust May 15, 2012 June 30, 2018
Invesco Dynamic Credit Opportunities Fund May 15, 2012 June 30, 2018
Invesco High Income 2023 Target Term Fund November 28, 20016 June 30, 2018
Invesco High Income Trust II May 15, 2012 June 30, 2018
Invesco Municipal Income Opportunities
Trust August 26, 2015 June 30, 2018
Invesco Municipal Opportunity Trust May 15, 2012 June 30, 2018
Invesco Municipal Trust May 15, 2012 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Value Municipal
Income Trust May 15, 2012 June 30, 2018
Invesco Quality Municipal Income Trust August 26, 2015 June 30, 2018
Invesco Senior Income Trust May 15, 2012 June 30, 2018
Invesco Trust for Investment Grade
Municipals May 15, 2012 June 30, 2018
Invesco Trust for Investment Grade New
York Municipals May 15, 2012 June 30, 2018
Invesco Value Municipal Income Trust June 1, 2010 June 30, 2018

/8/ Advisory fees to be waived by Invesco for Invesco Balanced-Risk Aggressive
Allocation Fund also include advisory fees that Invesco receives on the
Uninvested Cash from the Affiliated Money Market Fund in which Invesco
Cayman Commodity Fund VI, Ltd. invests.

Sub-Item 77Q1(e)

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 Management Trust, Invesco
Securities 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 the Contractual Limits (listed in Exhibits A - D), Invesco agrees until
at least the expiration date set forth on the attached Exhibits A - D (the
"Expiration Date") 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 rate, on an annualized basis, set forth
on the Exhibits of the average daily net assets allocable to such class.
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 Exhibits A - D. Neither a Trust nor Invesco may
remove or amend the Contractual Limits to a Trust'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 Contractual
Limits. Invesco will not have any right to reimbursement of any amount so
waived or reimbursed.

For the Contractual Limits, Invesco 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.

For the Voluntary Limits (listed in Exhibits A - D), Invesco agrees that
these are not contractual in nature and that Invesco may establish, amend
and/or terminate such expense limitations at any time in its sole discretion.
Any delay or failure by Invesco to update this Memorandum of Agreement with
regards to the terminations, extensions, or expirations of the Voluntary Limits
shall have no effect on the term of such Voluntary Limitations; the Voluntary
Limitations 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.

IN WITNESS WHEREOF, each of the Trusts 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 MANAGEMENT TRUST
INVESCO SECURITIES TRUST
SHORT-TERM INVESTMENTS TRUST
on behalf of the Funds listed in the Exhibits
to this Memorandum of Agreement

By: /s/ Xxxx X. Xxxx
--------------------------

Title: Senior Vice President

INVESCO ADVISERS, INC.

By: /s/ Xxxx X. Xxxx
--------------------------

Title: Senior Vice President

EXHIBIT "A" - RETAIL FUNDS/1/

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco American Franchise Fund
Class A Shares....................... Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares....................... Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares....................... Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares....................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares....................... Contractual 1.75% July 1, 2013 June 30, 0000

Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares....................... Contractual 2.00% July 1, 2012 June 30, 2017
Class C Shares....................... Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares...................... Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Core Plus Bond Fund
Class A Shares....................... Contractual 0.75% December 16, 2016 December 31, 2017
Class B Shares....................... Contractual 1.50% December 16, 2016 December 31, 2017
Class C Shares....................... Contractual 1.50% December 16, 2016 December 31, 2017
Class R Shares....................... Contractual 1.00% December 16, 2016 December 31, 2017
Class R5 Shares...................... Contractual 0.50% December 16, 2016 December 31, 2017
Class R6 Shares...................... Contractual 0.50% December 16, 2016 December 31, 2017
Class Y Shares....................... Contractual 0.50% December 16, 2016 December 31, 2017

Invesco Equally-Weighted S&P 500 Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Equity and Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Floating Rate Fund
Class A Shares....................... Contractual 1.50% April 14, 2006 June 30, 2017
Class C Shares....................... Contractual 2.00% April 14, 2006 June 30, 2017
Class R Shares....................... Contractual 1.75% April 14, 2006 June 30, 2017
Class R5 Shares...................... Contractual 1.25% April 14, 2006 June 30, 2017
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares....................... Contractual 1.25% October 3, 2008 June 30, 2017

Invesco Global Real Estate Income Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------- ------------------

Invesco Growth and Income Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.......................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Low Volatility Equity Yield Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.......................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares.................... Contractual 2.00% July 1, 2012 June 30, 0000

Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund
Class A Shares........................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares........................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco S&P 500 Index Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Short Duration High Yield Municipal
Fund
Class A Shares........................... Contractual 0.79% September 30, 2015 April 30, 2018
Class C Shares........................... Contractual 1.54% September 30, 2015 April 30, 2018
Class R5 Shares.......................... Contractual 0.54% September 30, 2015 April 30, 2018
Class R6 Shares.......................... Contractual 0.54% April 4, 2017 April 30, 2018
Class Y Shares........................... Contractual 0.54% September 30, 2015 April 30, 2018

1Invesco Small Cap Discovery Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Strategic Real Return Fund
Class A Shares........................... Contractual 0.82% less net AFFE* April 30, 2014 December 31, 2017
Class C Shares........................... Contractual 1.57% less net AFFE* April 30, 2014 December 31, 2017
Class R Shares........................... Contractual 1.07% less net AFFE* April 30, 2014 December 31, 2017
Class R5 Shares.......................... Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class R6 Shares.......................... Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class Y Shares........................... Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017

See page 17 for footnotes to Exhibit A.

AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------
Invesco Charter Fund
Class A Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 1.75% September 24, 2012 June 30, 2017
Class S Shares........................ Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2009 June 30, 2017

Invesco Diversified Dividend Fund
Class A Shares........................ Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares........................ Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares....................... Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2013 June 30, 2017
Investor Class Shares................. Contractual 2.00% July 1, 2013 June 30, 0000

Xxxxxxx Xxxxxx Fund
Class A Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class P Shares........................ Contractual 1.85% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 1.75% April 4, 2017 June 30, 2017
Class S Shares........................ Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2009 June 30, 2017

AIM FUNDS GROUP (INVESCO FUNDS GROUP)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------
Invesco European Small Company Fund
Class A Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017

Invesco Global Core Equity Fund
Class A Shares........................ Contractual 1.22% January 1, 2017 April 30, 2018
Class B Shares........................ Contractual 1.97% January 1, 2017 April 30, 2018
Class C Shares........................ Contractual 1.97% January 1, 2017 April 30, 2018
Class R Shares........................ Contractual 1.47% January 1, 2017 April 30, 2018
Class R5 Shares....................... Contractual 0.97% January 1, 2017 April 30, 2018
Class R6 Shares....................... Contractual 0.97% April 4, 2017 April 30, 2018
Class Y Shares........................ Contractual 0.97% January 1, 2017 April 30, 2018

Invesco International Small Company Fund
Class A Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ------------------- ---------------

Invesco Small Cap Equity Fund
Class A Shares.......................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares.......................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares.......................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares.......................... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares......................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares.......................... Contractual 1.75% July 1, 2009 June 30, 2017

AIM GROWTH SERIES (INVESCO GROWTH SERIES)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ------------------- ---------------
Invesco Alternative Strategies Fund
Class A Shares.......................... Contractual 1.44% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares.......................... Contractual 2.19% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares.......................... Contractual 1.69% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares......................... Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares......................... Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares.......................... Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018

Invesco Balanced-Risk Retirement 2020 Fund
Class A Shares.......................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares......................... Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares......................... Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares.......................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares......................... Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares......................... Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares......................... Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares.......................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Balanced-Risk Retirement 2030 Fund
Class A Shares.......................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares......................... Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares......................... Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares.......................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares......................... Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares......................... Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares......................... Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares.......................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Balanced-Risk Retirement 2040 Fund
Class A Shares.......................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares......................... Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares.......................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares......................... Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares.......................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares......................... Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares......................... Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares......................... Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares.......................... Contractual 0.00% November 4, 2009 April 30, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------

Invesco Balanced-Risk Retirement 2050 Fund
Class A Shares............................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.............................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.............................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares............................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.............................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.............................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.............................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares............................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Balanced-Risk Retirement Now Fund
Class A Shares............................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.............................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.............................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares............................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.............................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.............................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.............................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares............................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Conservative Allocation Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class S Shares............................... Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Convertible Securities Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Global Low Volatility Equity Yield Fund
Class A Shares............................... Contractual 2.00% May 1, 2016 June 30, 2017
Class B Shares............................... Contractual 2.75% May 1, 2016 June 30, 2017
Class C Shares............................... Contractual 2.75% May 1, 2016 June 30, 2017
Class R Shares............................... Contractual 2.25% May 1, 2016 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% May 1, 2016 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.75% May 1, 2016 June 30, 2017

Invesco Growth Allocation Fund
Class A Shares............................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% April 4, 2017 June 30, 2017
Class S Shares............................... Contractual 1.90% July 1, 2012 June 30, 2017
Class Y Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ------------------- ---------------

Invesco Income Allocation Fund
Class A Shares..................... Contractual 0.25% May 1, 2012 April 30, 2018
Class B Shares..................... Contractual 1.00% May 1, 2012 April 30, 2018
Class C Shares..................... Contractual 1.00% May 1, 2012 April 30, 2018
Class R Shares..................... Contractual 0.50% May 1, 2012 April 30, 2018
Class R5 Shares.................... Contractual 0.00% May 1, 2012 April 30, 2018
Class R6 Shares.................... Contractual 0.00% April 4, 2017 April 30, 2018
Class Y Shares..................... Contractual 0.00% May 1, 2012 April 30, 2018

Invesco International Allocation Fund
Class A Shares..................... Contractual 2.25% May 1, 2012 June 30, 2017
Class B Shares..................... Contractual 3.00% May 1, 2012 June 30, 2017
Class C Shares..................... Contractual 3.00% May 1, 2012 June 30, 2017
Class R Shares..................... Contractual 2.50% May 1, 2012 June 30, 2017
Class R5 Shares.................... Contractual 2.00% May 1, 2012 June 30, 2017
Class R6 Shares.................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares..................... Contractual 2.00% May 1, 2012 June 30, 2017

Invesco Mid Cap Core Equity Fund
Class A Shares..................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares..................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares..................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares..................... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares..................... Contractual 1.75% July 1, 2009 June 30, 2017

Invesco Moderate Allocation Fund
Class A Shares..................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares..................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares..................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares..................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares.................... Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.................... Contractual 1.25% April 4, 2017 June 30, 2017
Class S Shares..................... Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares..................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Multi-Asset Inflation Fund
Class A Shares..................... Contractual 1.02% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares..................... Contractual 1.77% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares..................... Contractual 1.27% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares.................... Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares.................... Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares..................... Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018

Invesco Quality Income Fund
Class A Shares..................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares..................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares..................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.................... Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.................... Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares..................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Small Cap Growth Fund
Class A Shares..................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares..................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares..................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares..................... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares..................... Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares.............. Contractual 2.00% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ------------------

Invesco Asia Pacific Growth Fund
Class A Shares.......................... Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class R6 Shares......................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares.......................... Contractual 2.00% July 1, 2009 June 30, 2017

Invesco European Growth Fund
Class A Shares.......................... Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares.......................... Contractual 3.00% July 1, 2009 June 30. 2017
Class C Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class R Shares.......................... Contractual 2.50% July 1, 2009 June 30, 2017
Class R6 Shares......................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares.......................... Contractual 2.00% July 1, 2009 June 30, 2017
Investor Class Shares................... Contractual 2.25% July 1, 2009 June 30, 2017

Invesco Global Growth Fund
Class A Shares.......................... Contractual 1.22% January 1, 2017 February 28, 2018
Class B Shares.......................... Contractual 1.97% January 1, 2017 February 28, 2018
Class C Shares.......................... Contractual 1.97% January 1, 2017 February 28, 2018
Class R5 Shares......................... Contractual 0.97% January 1, 2017 February 28, 2018
Class R6 Shares......................... Contractual 0.97% January 1, 2017 February 28, 2018
Class Y Shares.......................... Contractual 0.97% January 1, 2017 February 28, 2018

Invesco Global Opportunities Fund
Class A Shares.......................... Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares.......................... Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares.......................... Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares......................... Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares......................... Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares.......................... Contractual 0.77% January 1, 2017 February 28, 2018

Invesco Global Small & Mid Cap Growth Fund
Class A Shares.......................... Contractual 2.25% July 1, 2009 June 30. 2017
Class B Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares......................... Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares......................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares.......................... Contractual 2.00% July 1, 2009 June 30, 2017

Invesco Global Responsibility Equity Fund
Class A Shares.......................... Contractual 0.85% June 30, 2016 February 28, 2018
Class C Shares.......................... Contractual 1.60% June 30, 2016 February 28, 2018
Class R Shares.......................... Contractual 1.10% June 30, 2016 February 28, 2018
Class R5 Shares......................... Contractual 0.60% June 30, 2016 February 28, 2018
Class R6 Shares......................... Contractual 0.60% June 30, 2016 February 28, 2018
Class Y Shares.......................... Contractual 0.60% June 30, 2016 February 28, 2018

Invesco International Companies Fund
Class A Shares.......................... Contractual 1.12% January 1, 2017 February 28, 2018
Class C Shares.......................... Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares.......................... Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares......................... Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares......................... Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares.......................... Contractual 0.87% January 1, 2017 February 28, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco International Core Equity Fund
Class A Shares................................ Contractual 1.12% January 1, 2017 February 28, 2018
Class B Shares................................ Contractual 1.87% January 1, 2017 February 28, 2018
Class C Shares................................ Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares................................ Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares............................... Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares............................... Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares................................ Contractual 0.87% January 1, 2017 February 28, 2018
Investor Class Shares......................... Contractual 1.12% January 1, 2017 February 28, 2018

Invesco International Growth Fund
Class A Shares................................ Contractual 2.25% July 1, 2013 June 30, 2017
Class B Shares................................ Contractual 3.00% July 1, 2013 June 30, 2017
Class C Shares................................ Contractual 3.00% July 1, 2013 June 30, 2017
Class R Shares................................ Contractual 2.50% July 1, 2013 June 30, 2017
Class R5 Shares............................... Contractual 2.00% July 1, 2013 June 30, 2017
Class R6 Shares............................... Contractual 2.00% July 1, 2013 June 30, 2017
Class Y Shares................................ Contractual 2.00% July 1, 2013 June 30, 2017

Invesco Select Opportunities Fund
Class A Shares................................ Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares................................ Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares................................ Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares............................... Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares............................... Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares................................ Contractual 0.77% January 1, 2017 February 28, 2018

AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco All Cap Market Neutral Fund
Class A Shares................................
Class C Shares................................ Contractual 1.50% January 1, 2017 February 28, 2018
Class R Shares................................ Contractual 2.25% January 1, 2017 February 28, 2018
Class R5 Shares............................... Contractual 1.75% January 1, 2017 February 28, 2018
Class R6 Shares............................... Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares................................ Contractual 1.25% January 1, 2017 February 28, 2018
Contractual 1.25% January 1, 2017 February 28, 2018

Invesco Balanced-Risk Allocation Fund/2/
Class A Shares................................ Contractual 2.00% July 1, 2012 June 30. 2017
Class B Shares................................ Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................................ Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares................................ Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares............................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares................................ Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Balanced-Risk Commodity Strategy Fund/3/
Class A Shares................................ Contractual 2.00% July 1, 2014 June 30. 2017
Class B Shares................................ Contractual 2.75% July 1, 2014 June 30, 2017
Class C Shares................................ Contractual 2.75% July 1, 2014 June 30, 2017
Class R Shares................................ Contractual 2.25% July 1, 2014 June 30, 2017
Class R5 Shares............................... Contractual 1.75% July 1, 2014 June 30, 2017
Class R6 Shares............................... Contractual 1.75% July 1, 2014 June 30, 2017
Class Y Shares................................ Contractual 1.75% July 1, 2014 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco Developing Markets Fund
Class A Shares........................... Contractual 2.25% July 1, 2012 June 30. 2017
Class B Shares........................... Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 3.00% July 1, 2012 June 30, 2017
Class R5 Shares.......................... Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Emerging Markets Equity Fund
Class A Shares........................... Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares........................... Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares........................... Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares.......................... Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares.......................... Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares........................... Contractual 1.08% January 1, 2017 February 28, 2018

Invesco Emerging Markets Flexible Bond Fund
Class A Shares........................... Contractual 1.24% June 14, 2010 February 28, 2018
Class B Shares........................... Contractual 1.99% June 14, 2010 February 28, 2018
Class C Shares........................... Contractual 1.99% June 14, 2010 February 28, 2018
Class R Shares........................... Contractual 1.49% June 14, 2010 February 28, 2018
Class R5 Shares.......................... Contractual 0.99% June 14, 2010 February 28, 2018
Class R6 Shares.......................... Contractual 0.99% September 24, 2012 February 28, 2018
Class Y Shares........................... Contractual 0.99% June 14, 2010 February 28, 2018

Invesco Endeavor Fund
Class A Shares........................... Contractual 2.00% July 1, 2009 June 30. 2017
Class B Shares........................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares........................... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.......................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2009 June 30, 2017

Invesco Global Health Care Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30. 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares........................... Contractual 1.75% April 4, 2017 June 30, 2017
Investor Class Shares.................... Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Global Infrastructure Fund
Class A Shares........................... Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares........................... Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares........................... Contractual 1.53% January 1, 2017 February 28, 2018
Class R5 Shares.......................... Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares.......................... Contractual 1.03% January 1, 2017 February 28, 2018
Class Y Shares........................... Contractual 1.03% January 1, 2017 February 28, 2018

Invesco Global Market Neutral Fund
Class A Shares........................... Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares........................... Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares........................... Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares.......................... Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares.......................... Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares........................... Contractual 1.25% January 1, 2017 February 28, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EFFECTIVE DATE OF
FUND VOLUNTARY EXPENSE LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ------------------ ------------------

Invesco Global Targeted Returns Fund/4/
Class A Shares............................ Contractual 1.44% less net AFFE* January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.19% less net AFFE* January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.69% less net AFFE* January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018

Invesco Greater China Fund
Class A Shares............................ Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares............................ Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares............................ Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares........................... Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares........................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares............................ Contractual 2.00% July 1, 2009 June 30, 2017

Invesco Long/Short Equity Fund
Class A Shares............................ Contractual 1.59% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.34% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.84% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.34% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.34% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.34% January 1, 2017 February 28, 2018

Invesco Low Volatility Emerging Markets Fund
Class A Shares............................ Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.08% January 1, 2017 February 28, 2018

Invesco MLP Fund
Class A Shares............................ Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.53% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.03% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.03% January 1, 2017 February 28, 2018

Invesco Macro Allocation Strategy Fund/5/
Class A Shares............................ Contractual 1.44% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.19% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.69% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.19% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.19% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.19% January 1, 2017 February 28, 2018

Invesco Macro International Equity Fund
Class A Shares............................ Contractual 1.43% December 17, 2013 February 28, 2018
Class C Shares............................ Contractual 2.18% December 17, 2013 February 28, 2018
Class R Shares............................ Contractual 1.68% December 17, 2013 February 28, 2018
Class R5 Shares........................... Contractual 1.18% December 17, 2013 February 28, 2018
Class R6 Shares........................... Contractual 1.18% December 17, 2013 February 28, 2018
Class Y Shares............................ Contractual 1.18% December 17, 2013 February 28, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco Macro Long/Short Fund
Class A Shares............... Contractual 1.87% December 17, 2013 February 28, 2018
Class C Shares............... Contractual 2.62% December 17, 2013 February 28, 2018
Class R Shares............... Contractual 2.12% December 17, 2013 February 28, 2018
Class R5 Shares.............. Contractual 1.62% December 17, 2013 February 28, 2018
Class R6 Shares.............. Contractual 1.62% December 17, 2013 February 28, 2018
Class Y Shares............... Contractual 1.62% December 17, 2013 February 28, 2018

Invesco Multi-Asset Income Fund
Class A Shares............... Contractual 0.85% January 1, 2017 February 28, 2018
Class C Shares............... Contractual 1.60% January 1, 2017 February 28, 2018
Class R Shares............... Contractual 1.10% January 1, 2017 February 28, 2018
Class R5 Shares.............. Contractual 0.60% January 1, 2017 February 28, 2018
Class R6 Shares.............. Contractual 0.60% January 1, 2017 February 28, 2018
Class Y Shares............... Contractual 0.60% January 1, 2017 February 28, 2018

Invesco Pacific Growth Fund
Class A Shares............... Contractual 2.25% July 1, 2012 June 30. 2017
Class B Shares............... Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares............... Contractual 3.00% July 1, 2012 June 30, 2017
Class R Shares............... Contractual 2.50% July 1, 2012 June 30, 2017
Class R5 Shares.............. Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares.............. Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares............... Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Select Companies Fund
Class A Shares............... Contractual 2.00% July 1, 2009 June 30. 2017
Class B Shares............... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares............... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares............... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.............. Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.............. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares............... Contractual 1.75% July 1, 2009 June 30, 2017

Invesco World Bond Fund
Class A Shares............... Contractual 0.94% December 1, 2016 February 28, 2018
Class B Shares............... Contractual 1.69% December 1, 2016 February 28, 2018
Class C Shares............... Contractual 1.69% December 1, 2016 February 28, 2018
Class R5 Shares.............. Contractual 0.69% December 1, 2016 February 28, 2018
Class R6 Shares.............. Contractual 0.69% December 1, 2016 February 28, 2018
Class Y Shares............... Contractual 0.69% December 1, 2016 February 28, 2018

AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------
Invesco Corporate Bond Fund
Class A Shares............... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares............... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares.............. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............. Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares............... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Global Real Estate Fund
Class A Shares............... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares............... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares............... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares............... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.............. Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.............. Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares............... Contractual 1.75% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------

Invesco High Yield Fund
Class A Shares............................... Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class Shares........................ Contractual 1.50% July 1, 2013 June 30, 2017

Invesco Short Duration Inflation Protected Fund
Class A Shares............................... Contractual 0.55% December 31, 2015 June 30, 2017
Class A2 Shares.............................. Contractual 0.45% December 31, 2015 June 30, 2017
Class R5 Shares.............................. Contractual 0.30% December 31, 2015 June 30, 2017
Class R6 Shares.............................. Contractual 0.30% December 31, 2015 June 30, 2017
Class Y Shares............................... Contractual 0.30% December 31, 2015 June 30, 2017

Invesco Real Estate Fund
Class A Shares............................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares........................ Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Short Term Bond Fund
Class A Shares............................... Contractual 1.40% July 1, 2013 June 30, 2017
Class C Shares............................... Contractual 1.75%/6/ July 1, 2013 June 30, 2017
Class R Shares............................... Contractual 1.75% July 1, 2013 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2013 June 30, 0000

Xxxxxxx X.X. Government Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017
Investor Class Shares........................ Contractual 1.50% July 1, 2012 June 30, 2017

AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------
Invesco American Value Fund
Class A Shares............................... Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares............................... Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares............................... Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares............................... Contractual 1.75% July 1, 2013 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------

Invesco Xxxxxxxx Fund
Class A Shares................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.................. Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Energy Fund
Class A Shares................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares.................. Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.................. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares............ Contractual 2.00% July 1, 2009 June 30, 2017

Invesco Dividend Income Fund
Class A Shares................... Contractual 2.00% September 1, 2016 June 30, 2017
Class B Shares................... Contractual 2.75% September 1, 2016 June 30, 2017
Class C Shares................... Contractual 2.75% September 1, 2016 June 30, 2017
Class R5 Shares.................. Contractual 1.75% September 1, 2016 June 30, 2017
Class R6 Shares.................. Contractual 1.75% September 1, 2016 June 30, 2017
Class Y Shares................... Contractual 1.75% September 1, 2016 June 30, 2017
Investor Class Shares............ Contractual 2.00% September 1, 2016 June 30, 2017

Invesco Gold & Precious Metals Fund
Class A Shares................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R6 Shares.................. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares............ Contractual 2.00% July 1, 2009 June 30, 2017

Invesco Mid Cap Growth Fund
Class A Shares................... Contractual 2.00% August 1, 2015 June 30, 2017
Class B Shares................... Contractual 2.75% August 1, 2015 June 30, 2017
Class C Shares................... Contractual 2.75% August 1, 2015 June 30, 2017
Class R Shares................... Contractual 2.25% August 1, 2015 June 30, 2017
Class R5 Shares.................. Contractual 1.75% August 1, 2015 June 30, 2017
Class R6 Shares.................. Contractual 1.75% August 1, 2015 June 30, 2017
Class Y Shares................... Contractual 1.75% August 1, 2015 June 30, 2017

Invesco Small Cap Value Fund
Class A Shares................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R6 Shares.................. Contractual 1.75% February 7, 2017 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Technology Fund
Class A Shares................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares.................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.................. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares............ Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Technology Sector Fund
Class A Shares................... Contractual 2.00% February 12, 2010 June 30, 2017
Class B Shares................... Contractual 2.75% February 12, 2010 June 30, 2017
Class C Shares................... Contractual 2.75% February 12, 2010 June 30, 2017
Class Y Shares................... Contractual 1.75% February 12, 2010 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ---------------

Invesco Value Opportunities Fund
Class A Shares............................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017

AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ---------------
Invesco High Yield Municipal Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Intermediate Term Municipal Income Fund
Class A Shares............................... Contractual 0.84% July 1, 2016 April 30, 2018
Class B Shares............................... Contractual 1.59% July 1, 2016 April 30, 2018
Class C Shares............................... Contractual 1.59% July 1, 2016 April 30, 2018
Class R6 Shares.............................. Contractual 0.59% April 4, 2017 April 30, 2018
Class Y Shares............................... Contractual 0.59% July 1, 2016 April 30, 2018

Invesco Municipal Income Fund
Class A Shares............................... Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class............................... Contractual 1.50% July 15, 2013 June 30, 2017

Invesco New York Tax Free Income Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017

Invesco Limited Term Municipal Income Fund
Class A Shares...............................
Class A2 Shares.............................. Contractual 1.50% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 2.25% June 30, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares............................... Contractual 1.25% April 4, 2017 June 30, 2017
Contractual 1.25% July 1, 2012 June 30, 2017

See page 17 for footnotes to Exhibit A.

INVESCO MANAGEMENT TRUST

INVESCO SECURITIES TRUST

* 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.
/1/ The 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.
/2/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
/3/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
/4/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund VII, Ltd.
/5/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund V, Ltd.
/6/ The expense limit shown is the expense limit after Rule 12b-1 fee
waivers by Invesco Distributors, Inc.

EXHIBIT "B" - INSTITUTIONAL MONEY MARKET FUNDS/1,2/

SHORT-TERM INVESTMENTS TRUST

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ------------------
Government & Agency Portfolio
Cash Management Class........... Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.34% June 1, 2016 December 31, 2017

Liquid Assets Portfolio
Cash Management Class........... Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.38% June 1, 2016 December 31, 2017

STIC Prime Portfolio
Cash Management Class........... Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.34% June 1, 2016 December 31, 2017

Tax-Free Cash Reserve Portfolio/2/
Cash Management Class........... Contractual 0.28% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.23% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.20% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.75% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.45% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.07% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.36% June 1, 2016 December 31, 2017

Treasury Obligations Portfolio
Cash Management Class........... Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.43% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.34% June 1, 2016 December 31, 2017

Treasury Portfolio
Cash Management Class........... Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class....... Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class........ Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class.................. Contractual 0.34% June 1, 2016 December 31, 2017

/1/ The expense rate excluding 12b-1 fees of any class of shares established
after the date of this Memorandum of Agreement will be the same as existing
classes.
/2/ The expense limitation also excludes Trustees' fees and federal
registration expenses.

EXHIBIT "C" - VARIABLE INSURANCE FUNDS

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ----------------- ---------------

Invesco V.I. American Franchise Fund
Series I Shares............................ Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares........................... Contractual 2.25% July 1, 2014 June 30, 2017

Invesco V.I. American Value Fund
Series I Shares............................ Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017

Invesco V.I. Balanced-Risk Allocation Fund/1/
Series I Shares............................ Contractual 0.80% less net AFFE* May 1, 2014 April 30, 2018
Series II Shares........................... Contractual 1.05% less net AFFE* May 1, 2014 April 30, 2018

Invesco V.I. Xxxxxxxx Fund
Series I Shares............................ Contractual 0.78% May 1, 2013 April 30, 2018
Series II Shares........................... Contractual 1.03% May 1, 2013 April 30, 2018

Invesco V.I. Core Equity Fund
Series I Shares............................ Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares........................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Core Plus Bond Fund
Series I Shares............................ Contractual 0.61% April 30, 2015 April 30, 2018
Series II Shares........................... Contractual 0.86% April 30, 2015 April 30, 2018

Invesco V.I. Diversified Dividend Fund
Series I Shares............................ Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares........................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares............................ Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares........................... Contractual 2.25% July 1, 2012 June 30, 2017

Invesco V.I. Equity and Income Fund
Series I Shares............................ Contractual 1.50% July 1, 2012 June 30, 2017
Series II Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017

Invesco V.I. Global Core Equity Fund
Series I Shares............................ Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares........................... Contractual 2.50% July 1, 2012 June 30, 2017

Invesco V.I. Global Health Care Fund
Series I Shares............................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares........................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Global Real Estate Fund
Series I Shares............................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares........................... Contractual 2.25% May 1, 2013 June 30, 2017

/1/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ---------------

Invesco V.I. Government Money Market Fund
Series I Shares........................ Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares....................... Contractual 1.75% May 1, 2013 June 30, 2017

Invesco V.I. Government Securities Fund
Series I Shares........................ Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares....................... Contractual 1.75% May 1, 2013 June 30, 2017

Invesco V.I. Growth and Income Fund
Series I Shares........................ Contractual 0.78% May 1. 2013 April 30, 2018
Series II Shares....................... Contractual 1.03% May 1, 2013 April 30, 2018

Invesco V.I. High Yield Fund
Series I Shares........................ Contractual 1.50% May 1, 2014 June 30, 2017
Series II Shares....................... Contractual 1.75% May 1, 2014 June 30, 2017

Invesco V.I. International Growth Fund
Series I Shares........................ Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares....................... Contractual 2.50% July 1, 2012 June 30, 2017

Invesco V.I. Managed Volatility Fund
Series I Shares........................ Contractual 2.00% May 1, 2015 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2015 June 30, 2017

Invesco V.I. Mid Cap Core Equity Fund
Series I Shares........................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Mid Cap Growth Fund
Series I Shares........................ Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares....................... Contractual 2.25% July 1, 2014 June 30, 2017

Invesco V.I. S&P 500 Index Fund
Series I Shares........................ Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares....................... Contractual 2.25% July 1, 2012 June 30, 2017

Invesco V.I. Small Cap Equity Fund
Series I Shares........................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Technology Fund
Series I Shares........................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Value Opportunities Fund
Series I Shares........................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2013 June 30, 2017

* 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.

Sub-Item 77Q1(e)

MEMORANDUM OF AGREEMENT
(EXPENSE LIMITATIONS)

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.

IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.

By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President

Invesco Advisers, Inc.

By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President

EXHIBIT "A" - RETAIL FUNDS/1 /

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco American Franchise Fund
Class A Shares....................... Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares....................... Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares....................... Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares....................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares....................... Contractual 1.75% July 1, 2013 June 30, 0000

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY EXPENSE LIMITATION CURRENT LIMIT DATE
---- ------------ --------------------- ------------------ -----------------

Invesco Small Cap Discovery Fund
Class A Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares........................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class R6 Shares.......................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017

See page 17 for footnotes to Exhibit A.

AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------ ---------------
Invesco Charter Fund
Class A Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 1.75% September 24, 2012 June 30, 2017
Class S Shares........................ Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Diversified Dividend Fund
Class A Shares........................ Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares........................ Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares....................... Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2013 June 30, 2017
Investor Class Shares................. Contractual 2.00% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 2.75% July 1, 2009 June 30, 2017
Class P Shares........................ Contractual 1.85% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 1.75% April 4, 2017 June 30, 2017
Class S Shares........................ Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares........................ Contractual 1.75% July 1, 2009 June 30, 2017

AIM FUNDS GROUP (INVESCO FUNDS GROUP)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------ ---------------
Invesco European Small Company Fund
Class A Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Global Core Equity Fund
Class A Shares........................ Contractual 1.22% January 1, 2017 April 30, 2018
Class B Shares........................ Contractual 1.97% January 1, 2017 April 30, 2018
Class C Shares........................ Contractual 1.97% January 1, 2017 April 30, 2018
Class R Shares........................ Contractual 1.47% January 1, 2017 April 30, 2018
Class R5 Shares....................... Contractual 0.97% January 1, 2017 April 30, 2018
Class R6 Shares....................... Contractual 0.97% April 4, 2017 April 30, 2018
Class Y Shares........................ Contractual 0.97% January 1, 2017 April 30, 2018
Invesco International Small Company Fund
Class A Shares........................ Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares........................ Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares....................... Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares....................... Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares........................ Contractual 2.00% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ --------------------- ------------------ ---------------

Invesco Small Cap Equity Fund
Class A Shares................... Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares................... Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares.................. Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares.................. Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2009 June 30, 2017

AIM GROWTH SERIES (INVESCO GROWTH SERIES)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ --------------------- ------------------ ---------------
Invesco Alternative Strategies Fund
Class A Shares................... Contractual 1.44% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares................... Contractual 2.19% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares................... Contractual 1.69% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares.................. Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares.................. Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares................... Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018

Invesco Balanced-Risk Retirement 2020 Fund
Class A Shares................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Balanced-Risk Retirement 2030 Fund
Class A Shares................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares................... Contractual 0.00% November 4, 2009 April 30, 2018

Invesco Balanced-Risk Retirement 2040 Fund
Class A Shares................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares................... Contractual 0.00% November 4, 2009 April 30, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------ ---------------

Invesco Balanced-Risk Retirement 2050 Fund......
Class A Shares............................... Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares.............................. Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares............................... Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares.............................. Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares............................... Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares.............................. Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares.............................. Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares.............................. Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares............................... Contractual 0.00% November 4, 2009 April 30, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EFFECTIVE DATE OF
FUND VOLUNTARY EXPENSE LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ --------------------- ------------------ ---------------

See page 17 for footnotes to Exhibit A.

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ------------------
Invesco Asia Pacific Growth Fund
Class A Shares.......................... Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares.......................... Contractual 3.00% July 1, 2009 June 30, 2017
Class R6 Shares......................... Contractual 2.00% April 4, 2017 June 30, 2017
Class Y Shares.......................... Contractual 2.00% July 1, 2009 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco International Core Equity Fund
Class A Shares................................. Contractual 1.12% January 1, 2017 February 28, 2018
Class B Shares................................. Contractual 1.87% January 1, 2017 February 28, 2018
Class C Shares................................. Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares................................. Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares................................ Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares................................ Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares................................. Contractual 0.87% January 1, 2017 February 28, 2018
Investor Class Shares.......................... Contractual 1.12% January 1, 2017 February 28, 2018

Invesco International Growth Fund
Class A Shares................................. Contractual 2.25% July 1, 2013 June 30, 2017
Class B Shares................................. Contractual 3.00% July 1, 2013 June 30, 2017
Class C Shares................................. Contractual 3.00% July 1, 2013 June 30, 2017
Class R Shares................................. Contractual 2.50% July 1, 2013 June 30, 2017
Class R5 Shares................................ Contractual 2.00% July 1, 2013 June 30, 2017
Class R6 Shares................................ Contractual 2.00% July 1, 2013 June 30, 2017
Class Y Shares................................. Contractual 2.00% July 1, 2013 June 30, 2017

Invesco Select Opportunities Fund
Class A Shares................................. Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares................................. Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares................................. Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares................................ Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares................................ Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares................................. Contractual 0.77% January 1, 2017 February 28, 2018

AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------
Invesco All Cap Market Neutral Fund
Class A Shares................................. Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares................................. Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares................................. Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares................................ Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares................................ Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares................................. Contractual 1.25% January 1, 2017 February 28, 2018

Invesco Balanced-Risk Allocation Fund/2 /
Class A Shares................................. Contractual 2.00% July 1, 2012 June 30. 2017
Class B Shares................................. Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................................. Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares................................. Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares................................ Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares................................ Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares................................. Contractual 1.75% July 1, 2012 June 30, 2017

Invesco Balanced-Risk Commodity Strategy Fund/3 /
Class A Shares................................. Contractual 2.00% July 1, 2014 June 30. 2017
Class B Shares................................. Contractual 2.75% July 1, 2014 June 30, 2017
Class C Shares................................. Contractual 2.75% July 1, 2014 June 30, 2017
Class R Shares................................. Contractual 2.25% July 1, 2014 June 30, 2017
Class R5 Shares................................ Contractual 1.75% July 1, 2014 June 30, 2017
Class R6 Shares................................ Contractual 1.75% July 1, 2014 June 30, 2017
Class Y Shares................................. Contractual 1.75% July 1, 2014 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

Invesco Developing Markets Fund
Class A Shares............................ Contractual 2.25% July 1, 2012 June 30. 2017
Class B Shares............................ Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares............................ Contractual 3.00% July 1, 2012 June 30, 2017
Class R5 Shares........................... Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares........................... Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares............................ Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Emerging Markets Equity Fund
Class A Shares............................ Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.08% January 1, 2017 February 28, 2018

Invesco Emerging Markets Flexible Bond Fund
Class A Shares............................ Contractual 1.24% June 14, 2010 February 28, 2018
Class B Shares............................ Contractual 1.99% June 14, 2010 February 28, 2018
Class C Shares............................ Contractual 1.99% June 14, 2010 February 28, 2018
Class R Shares............................ Contractual 1.49% June 14, 2010 February 28, 2018
Class R5 Shares........................... Contractual 0.99% June 14, 2010 February 28, 2018
Class R6 Shares........................... Contractual 0.99% September 24, 2012 February 28, 2018
Class Y Shares............................ Contractual 0.99% June 14, 2010 February 28, 2018

Invesco Endeavor Fund
Class A Shares............................ Contractual 2.00% July 1, 2009 June 30. 2017
Class B Shares............................ Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares............................ Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares............................ Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares........................... Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares........................... Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares............................ Contractual 1.75% July 1, 2009 June 30, 2017

Invesco Global Health Care Fund
Class A Shares............................ Contractual 2.00% July 1, 2012 June 30. 2017
Class B Shares............................ Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares............................ Contractual 2.75% July 1, 2012 June 30, 2017
Class R6 Shares........................... Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares............................ Contractual 1.75% April 4, 2017 June 30, 2017
Investor Class Shares..................... Contractual 2.00% July 1, 2012 June 30, 2017

Invesco Global Infrastructure Fund
Class A Shares............................ Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.53% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.03% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.03% January 1, 2017 February 28, 2018

Invesco Global Market Neutral Fund
Class A Shares............................ Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.25% January 1, 2017 February 28, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ------------------ ------------------

Invesco Global Targeted Returns Fund/4 /
Class A Shares............................ Contractual 1.44% less net AFFE* January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.19% less net AFFE* January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.69% less net AFFE* January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018

Invesco Macro Allocation Strategy Fund/5 /
Class A Shares............................ Contractual 1.44% January 1, 2017 February 28, 2018
Class C Shares............................ Contractual 2.19% January 1, 2017 February 28, 2018
Class R Shares............................ Contractual 1.69% January 1, 2017 February 28, 2018
Class R5 Shares........................... Contractual 1.19% January 1, 2017 February 28, 2018
Class R6 Shares........................... Contractual 1.19% January 1, 2017 February 28, 2018
Class Y Shares............................ Contractual 1.19% January 1, 2017 February 28, 2018

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ------------------

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------

Invesco U.S. Government Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares............................... Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017
Investor Class Shares........................ Contractual 1.50% July 1, 2012 June 30, 2017
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNT ARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------
Invesco American Value Fund
Class A Shares............................... Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares............................... Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares............................... Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares............................... Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares.............................. Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares.............................. Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares............................... Contractual 1.75% July 1, 2013 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ------------------- ---------------

Invesco Comstock Fund
Class A Shares................... Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares................... Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares................... Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares.................. Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares.................. Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares................... Contractual 1.75% July 1, 2012 June 30, 2017

See page 17 for footnotes to Exhibit A.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ---------------

Invesco Limited Term Municipal Income Fund
Class A Shares............................... Contractual 1.50% July 1, 2012 June 30, 2017
Class A2 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class C Shares............................... Contractual 2.25% June 30, 2013 June 30, 2017
Class R5 Shares.............................. Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares.............................. Contractual 1.25% April 4, 2017 June 30, 2017
Class Y Shares............................... Contractual 1.25% July 1, 2012 June 30, 2017

See page 17 for footnotes to Exhibit A.

INVESCO MANAGEMENT TRUST

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- -------------- ---------- ----------------- ------------------
Invesco
Conservative
Income Fund

Institutional
Class......... Contractual 0.28% July 1, 2014 December 31, 2017
INVESCO SECURITIES TRUST

* 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.
/1 /The 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.
/2 /Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
/3 /Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
/4 /Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund VII, Ltd.
/5 /Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund V, Ltd.
/6 /The expense limit shown is the expense limit after Rule 12b-1 fee
waivers by Invesco Distributors, Inc.

EXHIBIT "B" - INSTITUTIONAL MONEY MARKET FUNDS/1,2 /

SHORT-TERM INVESTMENTS TRUST

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ------------------

Government & Agency Portfolio
Cash Management Class............ Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.34% June 1, 2016 December 31, 2017

Liquid Assets Portfolio
Cash Management Class............ Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.38% June 1, 2016 December 31, 2017

STIC Prime Portfolio
Cash Management Class............ Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.34% June 1, 2016 December 31, 2017

Tax-Free Cash Reserve Portfolio/2 /
Cash Management Class............ Contractual 0.28% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.23% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.20% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.75% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.45% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.07% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.36% June 1, 2016 December 31, 2017

Treasury Obligations Portfolio
Cash Management Class............ Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.43% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.34% June 1, 2016 December 31, 2017

Treasury Portfolio
Cash Management Class............ Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class.................. Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class.............. Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class........ Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class......... Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class.................... Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class................... Contractual 0.34% June 1, 2016 December 31, 2017

/1 /The expense rate excluding 12b-1 fees of any class of shares established
after the date of this Memorandum of Agreement will be the same as existing
classes.
/2 /The expense limitation also excludes Trustees' fees and federal
registration expenses.

EXHIBIT "C" - VARIABLE INSURANCE FUNDS

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ -------------------- ----------------- ---------------

Invesco V.I. American Franchise Fund
Series I Shares............................. Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares............................ Contractual 2.25% July 1, 2014 June 30, 2017

Invesco V.I. American Value Fund
Series I Shares............................. Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares............................ Contractual 2.25% July 1, 2012 June 30, 2017

Invesco V.I. Balanced-Risk Allocation Fund/1 /
Series I Shares............................. Contractual 0.80% less net AFFE* May 1, 2014 April 30, 2018
Series II Shares............................ Contractual 1.05% less net AFFE* May 1, 2014 April 30, 2018

Invesco V.I. Comstock Fund
Series I Shares............................. Contractual 0.78% May 1, 2013 April 30, 2018
Series II Shares............................ Contractual 1.03% May 1, 2013 April 30, 2018

Invesco V.I. Core Equity Fund
Series I Shares............................. Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares............................ Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Core Plus Bond Fund
Series I Shares............................. Contractual 0.61% April 30, 2015 April 30, 2018
Series II Shares............................ Contractual 0.86% April 30, 2015 April 30, 2018

Invesco V.I. Diversified Dividend Fund
Series I Shares............................. Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares............................ Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares............................. Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares............................ Contractual 2.25% July 1, 2012 June 30, 2017

Invesco V.I. Equity and Income Fund
Series I Shares............................. Contractual 1.50% July 1, 2012 June 30, 2017
Series II Shares............................ Contractual 1.75% July 1, 2012 June 30, 2017

Invesco V.I. Global Core Equity Fund
Series I Shares............................. Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares............................ Contractual 2.50% July 1, 2012 June 30, 2017

Invesco V.I. Global Health Care Fund
Series I Shares............................. Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares............................ Contractual 2.25% May 1, 2013 June 30, 2017

Invesco V.I. Global Real Estate Fund
Series I Shares............................. Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares............................ Contractual 2.25% May 1, 2013 June 30, 2017

/1 /Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.

CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF
FUND VOLUNTARY LIMITATION CURRENT LIMIT EXPIRATION DATE
---- ------------ ---------- ----------------- ---------------

Invesco V.I. High Yield Fund
Series I Shares........................ Contractual 1.50% May 1, 2014 June 30, 2017
Series II Shares....................... Contractual 1.75% May 1, 2014 June 30, 2017

Invesco V.I. Technology Fund
Series I Shares........................ Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares....................... Contractual 2.25% May 1, 2013 June 30, 2017

Sub-Item 77Q1(e)

AMENDMENT NO. 34
TO
MASTER INVESTMENT ADVISORY AGREEMENT

This Amendment dated as of December 1, 2016, amends the Master Investment
Advisory Agreement (the "Agreement"), dated September 11, 2000, between AIM
Investment Funds (Invesco Investment Funds), a Delaware statutory trust, and
Invesco Advisers, Inc., a Delaware corporation.

WITNESSETH:

WHEREAS, the Trust desires to amend the Agreement to change the name of
Invesco International Total Return Fund to Invesco World Bond Fund;

NOW, THEREFORE, the parties agree as follows;

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 All Cap Market Neutral Fund December 16, 2013

Invesco Balanced-Risk Allocation Fund May 29, 2009

Invesco Balanced-Risk Commodity
Strategy Fund November 29, 2010

Invesco Greater China Fund March 31, 2006

Invesco Developing Markets Fund September 1, 2001

Invesco Emerging Markets Flexible
Bond Fund June 14, 2010

Invesco Emerging Markets Equity Fund May 31, 2011

Invesco Endeavor Fund November 3, 2003

Invesco Global Health Care Fund September 1, 2001

Invesco Global Infrastructure Fund April 22, 2014

Invesco Global Market Neutral Fund December 16, 2013

Invesco Global Targeted Returns Fund December 16, 2013

Invesco Long/Short Equity Fund December 16, 2013

Invesco Low Volatility Emerging
Markets Fund December 16, 2013

Invesco Macro Allocation Strategy Fund September 25, 2012

Invesco Macro International Equity
Fund December 16, 2013

Invesco Macro Long/Short Fund December 16, 2013

Invesco MLP Fund April 22, 2014

Invesco Multi-Asset Income Fund December 14, 2011

Invesco Pacific Growth Fund February 12, 2010

Invesco Select Companies Fund November 3, 2003

Invesco World Bond Fund March 31, 2006

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 ALL CAP MARKET NEUTRAL FUND
INVESCO GLOBAL MARKET NEUTRAL FUND
INVESCO LONG/SHORT EQUITY FUND
INVESCO MACRO LONG/SHORT FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $10 billion................................. 1.25%
Over $10 billion.................................. 1.15%

INVESCO 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 Balanced-Risk Allocation Fund invests its assets in
Invesco Cayman Commodity Fund I Ltd., a direct wholly-owned subsidiary of
Invesco 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 Balanced-Risk Allocation Fund, in an amount equal to
100% of the advisory fee that the Adviser receives from Invesco Cayman
Commodity Fund I Ltd.

INVESCO BALANCED-RISK COMMODITY STRATEGY FUND

NET ASSETS ANNUAL RATE*
---------- ------------

First $250 million................................ 1.050%
Next $250 million................................. 1.025%
Next $500 million................................. 1.000%
Next $1.5 billion................................. 0.975%
Next $2.5 billion................................. 0.950%
Next $2.5 billion................................. 0.925%
Next $2.5 billion................................. 0.900%
Over $10 billion.................................. 0.875%

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

INVESCO GREATER CHINA FUND
INVESCO DEVELOPING MARKETS FUND
INVESCO EMERGING MARKETS EQUITY FUND
INVESCO LOW VOLATILITY EMERGING MARKETS FUND
INVESCO MACRO INTERNATIONAL EQUITY FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $250 million................................ 0.935%
Next $250 million................................. 0.91%
Next $500 million................................. 0.885%
Next $1.5 billion................................. 0.86%
Next $2.5 billion................................. 0.835%
Next $2.5 billion................................. 0.81%
Next $2.5 billion................................. 0.785%
Over $10 billion.................................. 0.76%

INVESCO EMERGING MARKETS FLEXIBLE BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $500 million................................ 0.75%
Next $500 million................................. 0.70%
Next $500 million................................. 0.67%
Over $1.5 billion................................. 0.65%

INVESCO GLOBAL HEALTH CARE FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $350 million................................ 0.75%
Next $350 million................................. 0.65%
Next $1.3 billion................................. 0.55%
Next $2 billion................................... 0.45%
Next $2 billion................................... 0.40%
Next $2 billion................................... 0.375%
Over $8 billion................................... 0.35%

INVESCO GLOBAL INFRASTRUCTURE FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $2.5 billion................................ 0.840%
Next $2 billion................................... 0.800%
Next $3.5 billion................................. 0.785%
Over $8 billion................................... 0.770%

INVESCO MACRO ALLOCATION STRATEGY FUND
INVESCO GLOBAL TARGETED RETURNS FUND

NET ASSETS ANNUAL RATE*
---------- ------------

First $10 billion................................. 1.500%
Over $10 billion.................................. 1.250%

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

INVESCO WORLD BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $250 million................................ 0.65%
Next $250 million................................. 0.59%
Next $500 million................................. 0.565%
Next $1.5 billion................................. 0.54%
Next $2.5 billion................................. 0.515%
Next $5 billion................................... 0.49%
Over $10 billion.................................. 0.465%

INVESCO MLP FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $1 billion.................................. 1.00%
Next $1.5 billion................................. 0.95%
Next $2 billion................................... 0.93%
Next $3.5 billion................................. 0.91%
Over $8 billion................................... 0.90%

INVESCO ENDEAVOR FUND
INVESCO SELECT COMPANIES 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%

INVESCO PACIFIC GROWTH FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $1 billion.................................. 0.87%
Next $1 billion................................... 0.82%
Over $2 billion................................... 0.77%

INVESCO MULTI-ASSET INCOME FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $500 million................................ 0.650%
Next $500 million................................. 0.600%
Next $500 million................................. 0.550%
Over $1.5 billion................................. 0.540%"

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

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

AIM INVESTMENT FUNDS
(INVESCO INVESTMENT FUNDS)

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
---------------------------
Assistant Secretary John M. Zerr
Senior Vice President

(SEAL)

INVESCO ADVISERS, INC.

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
---------------------------
Assistant Secretary John M. Zerr
Senior Vice President
(SEAL)

Sub-Item 77Q1(e)

AMENDMENT NO. 35
TO
MASTER INVESTMENT ADVISORY AGREEMENT

This Amendment dated as of January 1, 2017, amends the Master Investment
Advisory Agreement (the "Agreement"), dated September 11, 2000, between AIM
Investment Funds (Invesco Investment Funds), a Delaware statutory trust, and
Invesco Advisers, Inc., a Delaware corporation.

WITNESSETH:

WHEREAS, the Trust desires to amend the Agreement to reduce the advisory fee
payable by Invesco All Cap Market Neutral Fund, Invesco Global Market Neutral
Fund, Invesco Global Targeted Returns Fund, Invesco Long/Short Fund, Invesco
Macro Allocation Strategy Fund and Invesco Multi-Asset Income Fund;

NOW, THEREFORE, the parties agree as follows;

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 All Cap Market Neutral Fund December 16, 2013

Invesco Balanced-Risk Allocation Fund May 29, 2009

Invesco Balanced-Risk Commodity
Strategy Fund November 29, 2010

Invesco Greater China Fund March 31, 2006

Invesco Developing Markets Fund September 1, 2001

Invesco Emerging Markets Flexible
Bond Fund June 14, 2010

Invesco Emerging Markets Equity Fund May 31, 2011

Invesco Endeavor Fund November 3, 2003

Invesco Global Health Care Fund September 1, 2001

Invesco Global Infrastructure Fund April 22, 2014

Invesco Global Market Neutral Fund December 16, 2013

Invesco Global Targeted Returns Fund December 16, 2013

Invesco Long/Short Equity Fund December 16, 2013

Invesco Low Volatility Emerging
Markets Fund December 16, 2013

Invesco Macro Allocation Strategy Fund September 25, 2012

Invesco Macro International Equity
Fund December 16, 2013

Invesco Macro Long/Short Fund December 16, 2013

Invesco MLP Fund April 22, 2014

Invesco Multi-Asset Income Fund December 14, 2011

Invesco Pacific Growth Fund February 12, 2010

Invesco Select Companies Fund November 3, 2003

Invesco World Bond Fund March 31, 2006

APPENDIX B
COMPENSATION TO THE ADVISOR

INVESCO ALL CAP MARKET NEUTRAL FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $250 million................................ 0.85%
Next $250 million................................. 0.82%
Next $500 million................................. 0.80%
Next $1.5 billion................................. 0.77%
Next $2.5 billion................................. 0.75%
Next $2.5 billion................................. 0.72%
Next $2.5 billion................................. 0.70%
Over $10 billion.................................. 0.67%

INVESCO BALANCED-RISK ALLOCATION FUND

NET ASSETS ANNUAL RATE*
---------- ------------

to 100% of the advisory fee that the Adviser receives from Invesco Cayman
Commodity Fund I Ltd.

INVESCO BALANCED-RISK COMMODITY STRATEGY FUND

NET ASSETS ANNUAL RATE*
---------- ------------

INVESCO GREATER CHINA FUND
INVESCO DEVELOPING MARKETS FUND
INVESCO EMERGING MARKETS EQUITY FUND
INVESCO LOW VOLATILITY EMERGING MARKETS FUND
INVESCO MACRO INTERNATIONAL EQUITY FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO EMERGING MARKETS FLEXIBLE BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL HEALTH CARE FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL INFRASTRUCTURE FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL MARKET NEUTRAL FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $250 million................................ 0.95%
Next $250 million................................. 0.93%
Next $500 million................................. 0.91%
Next $1.5 billion................................. 0.89%
Next $2.5 billion................................. 0.87%
Next $2.5 billion................................. 0.85%
Next $2.5 billion................................. 0.83%
Over $10 billion.................................. 0.81%

INVESCO GLOBAL TARGETED RETURNS FUND
INVESCO MACRO ALLOCATION STRATEGY FUND

NET ASSETS ANNUAL RATE*
---------- ------------

First $250 million................................ 1.10%
Next $250 million................................. 1.08%
Next $500 million................................. 1.05%
Next $1.5 billion................................. 1.03%
Next $2.5 billion................................. 1.00%
Next $2.5 billion................................. 0.98%
Next $2.5 billion................................. 0.95%
Over $10 billion.................................. 0.93%

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

INVESCO LONG/SHORT EQUITY FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $250 million................................ 0.80%
Next $250 million................................. 0.77%
Next $500 million................................. 0.75%
Next $1.5 billion................................. 0.72%
Next $2.5 billion................................. 0.70%
Next $2.5 billion................................. 0.67%
Next $2.5 billion................................. 0.65%
Over $10 billion.................................. 0.62%

INVESCO MACRO LONG/SHORT FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $10 billion................................. 1.25%
Over $10 billion.................................. 1.15%

INVESCO WORLD BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO MLP FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO ENDEAVOR FUND
INVESCO SELECT COMPANIES FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO PACIFIC GROWTH FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $1 billion.................................. 0.87%
Next $1 billion................................... 0.82%
Over $2 billion................................... 0.77%

INVESCO MULTI-ASSET INCOME FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $500 million................................ 0.50%
Next $500 million................................. 0.45%
Next $500 million................................. 0.40%
Over $1.5 billion................................. 0.39%"

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

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

AIM INVESTMENT FUNDS
(INVESCO INVESTMENT FUNDS)

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
------------------------------------- ---------------------------
Assistant Secretary John M. Zerr
Senior Vice President

(SEAL)

INVESCO ADVISERS, INC.

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
------------------------------------- ---------------------------
Assistant Secretary John M. Zerr
Senior Vice President

(SEAL)

Sub-Item 77Q1(e)

AMENDMENT NO. 36
TO
MASTER INVESTMENT ADVISORY AGREEMENT

This Amendment dated as of February 27, 2017, amends the Master Investment
Advisory Agreement (the "Agreement"), dated September 11, 2000, between AIM
Investment Funds (Invesco Investment Funds), a Delaware statutory trust, and
Invesco Advisers, Inc., a Delaware corporation.

W I T N E S S E T H:

WHEREAS, the Trust desires to remove Invesco Macro International Equity Fund
and Invesco Macro Long/Short Fund;

NOW, THEREFORE, the parties agree as follows;

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 All Cap Market Neutral Fund December 16, 2013

Invesco Balanced-Risk Allocation Fund May 29, 2009

Invesco Balanced-Risk Commodity
Strategy Fund November 29, 2010

Invesco Greater China Fund March 31, 2006

Invesco Developing Markets Fund September 1, 2001

Invesco Emerging Markets Flexible
Bond Fund June 14, 2010

Invesco Emerging Markets Equity Fund May 31, 2011

Invesco Endeavor Fund November 3, 2003

Invesco Global Health Care Fund September 1, 2001

Invesco Global Infrastructure Fund April 22, 2014

Invesco Global Market Neutral Fund December 16, 2013

Invesco Global Targeted Returns Fund December 16, 2013

Invesco Long/Short Equity Fund December 16, 2013

Invesco Low Volatility Emerging
Markets Fund December 16, 2013

Invesco Macro Allocation Strategy Fund September 25, 2012

Invesco MLP Fund April 22, 2014

Invesco Multi-Asset Income Fund December 14, 2011

Invesco Pacific Growth Fund February 12, 2010

Invesco Select Companies Fund November 3, 2003

Invesco World Bond Fund March 31, 2006

APPENDIX B
COMPENSATION TO THE ADVISOR

INVESCO ALL CAP MARKET NEUTRAL FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO BALANCED-RISK ALLOCATION FUND

NET ASSETS ANNUAL RATE*
---------- ------------

INVESCO BALANCED-RISK COMMODITY STRATEGY FUND

NET ASSETS ANNUAL RATE*
---------- ------------

INVESCO GREATER CHINA FUND
INVESCO DEVELOPING MARKETS FUND
INVESCO EMERGING MARKETS EQUITY FUND
INVESCO LOW VOLATILITY EMERGING MARKETS FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO EMERGING MARKETS FLEXIBLE BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL HEALTH CARE FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL INFRASTRUCTURE FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL MARKET NEUTRAL FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO GLOBAL TARGETED RETURNS FUND
INVESCO MACRO ALLOCATION STRATEGY FUND

NET ASSETS ANNUAL RATE*
---------- ------------

INVESCO LONG/SHORT EQUITY FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO WORLD BOND FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO MLP FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO ENDEAVOR FUND
INVESCO SELECT COMPANIES FUND

NET ASSETS ANNUAL RATE
---------- -----------

INVESCO PACIFIC GROWTH FUND

NET ASSETS ANNUAL RATE
---------- -----------

First $1 billion.................................. 0.87%
Next $1 billion................................... 0.82%
Over $2 billion................................... 0.77%

INVESCO MULTI-ASSET INCOME FUND

NET ASSETS ANNUAL RATE
---------- -----------

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

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

AIM INVESTMENT FUNDS
(INVESCO INVESTMENT FUNDS)

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
------------------------------------- ---------------------------
Assistant Secretary John M. Zerr
Senior Vice President

(SEAL)

INVESCO ADVISERS, INC.

Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
------------------------------------- ---------------------------
Assistant Secretary John M. Zerr
Senior Vice President

(SEAL)

Sub-Item 77Q1(e)

AMENDMENT NO. 20
TO
MASTER INTERGROUP SUB-ADVISORY CONTRACT FOR MUTUAL FUNDS

This Amendment dated as of December 1, 2016, amends the Master Intergroup
Sub-Advisory Contract for Mutual Funds (the "Contract"), dated May 1, 2008,
between Invesco Advisers, Inc. (the "Adviser"), on behalf of AIM Investment
Funds (Invesco Investment Funds), and each of Invesco Canada Ltd., Invesco
Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco
Asset Management (Japan) Ltd., Invesco Hong Kong Limited, and Invesco Senior
Secured Management, Inc. (each a "Sub-Adviser" and, collectively, the
"Sub-Advisers").

W I T N E S S E T H:

WHEREAS, the Trust desires to amend the Agreement to change the name of
Invesco International Total Return Fund to Invesco World Bond Fund;

NOW, THEREFORE, the parties agree as follows;

1. Exhibit A to the Contract is hereby deleted in its entirety and replaced
with the following:

"EXHIBIT A

Invesco All Cap Market Neutral Fund
Invesco Balanced-Risk Allocation Fund
Invesco Balanced-Risk Commodity Strategy Fund
Invesco Greater China Fund
Invesco Developing Markets Fund
Invesco Emerging Markets Flexible Bond Fund
Invesco Emerging Markets Equity Fund
Invesco Endeavor Fund
Invesco Global Health Care Fund
Invesco Global Infrastructure Fund
Invesco Global Market Neutral Fund
Invesco Global Targeted Returns Fund
Invesco Long/Short Equity Fund
Invesco Low Volatility Emerging Markets Fund
Invesco Macro Allocation Strategy Fund
Invesco Macro International Equity Fund
Invesco Macro Long/Short Fund
Invesco MLP Fund
Invesco Multi-Asset Income Fund
Invesco Pacific Growth Fund
Invesco Select Companies Fund
Invesco World Bond Fund"

2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.

INVESCO ADVISERS, INC.

Adviser

By: /s/ John M. Zerr
------------------------------
Name: John M. Zerr
Title: Senior Vice President

INVESCO CANADA LTD.

Sub-Adviser

By: /s/ Harsh Damani
------------------------------
Name: Harsh Damani
Title: Chief Financial Officer,
Funds & Senior Vice President
Fund Administration

By: /s/ David C. Warren
------------------------------
Name: David C. Warren
Title: Executive Vice President &
Chief Financial Officer

INVESCO ASSET MANAGEMENT
DEUTSCHLAND GMBH

Sub-Adviser

By: /s/ Sybille Hofmann /s/ Leif Baumann
------------------------------------
Name: Sybille Hofmann Leif Baumann
Title: Director Head of Legal Germany

INVESCO ASSET MANAGEMENT LIMITED

Sub-Adviser

By: /s/ Colin Fitzgerald
------------------------------
Name: Colin Fitzgerald
Title: Director

INVESCO ASSET MANAGEMENT (JAPAN) LTD.

Sub-Adviser

By: /s/ Masakazu Hasegawa
------------------------------
Name: Masakazu Hasegawa
Title: Managing Director

INVESCO HONG KONG LIMITED

Sub-Adviser

By: /s/ Lee Siu Mei /s/ Pang Sin Chu
--------------------------------
Name: Lee Siu Mei Pang Sin Chu
Title: Authorised Signatory

INVESCO SENIOR SECURED MANAGEMENT, INC.

Sub-Adviser

By: /s/ Stephen Swanson
----------------------------------------
Name: Stephen Swanson
Title: Secretary & General Counsel

Sub-Item 77Q1(e)

AMENDMENT NO. 21
TO
MASTER INTERGROUP SUB-ADVISORY CONTRACT FOR MUTUAL FUNDS

This Amendment dated as of February 27, 2017, amends the Master Intergroup
Sub-Advisory Contract for Mutual Funds (the "Contract"), dated May 1, 2008,
between Invesco Advisers, Inc. (the "Adviser"), on behalf of AIM Investment
Funds (Invesco Investment Funds), and each of Invesco Canada Ltd., Invesco
Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco
Asset Management (Japan) Ltd., Invesco Hong Kong Limited, and Invesco Senior
Secured Management, Inc. (each a "Sub-Adviser" and, collectively, the
"Sub-Advisers").

W I T N E S S E T H:

WHEREAS, the Trust desires to amend the Agreement to remove Invesco Macro
International Equity Fund and Invesco Macro Long/Short Fund;

NOW, THEREFORE, the parties agree as follows;

1. Exhibit A to the Contract is hereby deleted in its entirety and replaced
with the following:

"EXHIBIT A

Invesco All Cap Market Neutral Fund
Invesco Balanced-Risk Allocation Fund
Invesco Balanced-Risk Commodity Strategy Fund
Invesco Greater China Fund
Invesco Developing Markets Fund
Invesco Emerging Markets Flexible Bond Fund
Invesco Emerging Markets Equity Fund
Invesco Endeavor Fund
Invesco Global Health Care Fund
Invesco Global Infrastructure Fund
Invesco Global Market Neutral Fund
Invesco Global Targeted Returns Fund
Invesco Long/Short Equity Fund
Invesco Low Volatility Emerging Markets Fund
Invesco Macro Allocation Strategy Fund
Invesco MLP Fund
Invesco Multi-Asset Income Fund
Invesco Pacific Growth Fund
Invesco Select Companies Fund
Invesco World Bond Fund"

2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.

INVESCO ADVISERS, INC.

Adviser

By: /s/ John M. Zerr
------------------------------
Name: John M. Zerr
Title: Senior Vice President

INVESCO CANADA LTD.

Sub-Adviser

By: /s/ Harsh Damani
------------------------------
Name: Harsh Damani
Title: Chief Financial Officer,
Funds & Senior Vice President Fund
Administration

By: /s/ David C. Warren
------------------------------
Name: David C. Warren
Title: Executive Vice President &
Chief Financial Officer

INVESCO ASSET MANAGEMENT
DEUTSCHLAND GMBH

Sub-Adviser

By: /s/ Sybille Hofmann /s/ Leif Baumann
------------------------------------
Name: Sybille Hofmann Leif Baumann
Director Head of Legal
Title: Germany

INVESCO ASSET MANAGEMENT LIMITED

Sub-Adviser

By: /s/ Graeme Proudfoot
------------------------------
Name: Graeme Proudfoot
Title: Director

INVESCO ASSET MANAGEMENT (JAPAN) LTD.

Sub-Adviser

By: /s/ Masakazu Hasegawa
------------------------------
Name: Masakazu Hasegawa
Title: Managing Director

INVESCO HONG KONG LIMITED

Sub-Adviser

By: /s/ Lee Siu Mei /s/ Pang Sin Chu
--------------------------------
Name: Lee Siu Mei Pang Sin Chu
Title: Authorised Signatory

INVESCO SENIOR SECURED MANAGEMENT,
INC.

Sub-Adviser

By: /s/ Stephen Swanson
------------------------------
Name: Stephen Swanson
Title: Secretary & General Counsel

Sub-Item 77Q1(e)

AMENDMENT NO. 13
TO
SUB-ADVISORY CONTRACT

This Amendment dated as of October 28, 2016, amends the Sub-Advisory
Contract (the "Contract") between Invesco Advisers, Inc. (the "Advisor") and
Invesco PowerShares Capital Management LLC (the "Sub-Advisor").

WHEREAS, the parties agree to amend the Contract to remove Invesco
Unconstrained Bond Fund and Invesco Strategic Income Fund, series portfolios of
AIM Investment Funds (Invesco Investment Funds) (the "Fund");

NOW THEREFORE, in consideration of the promises and the mutual covenants
herein contained, it is agreed between the parties hereto as follows:

1. The Contract is hereby amended to add the Fund to the Contract as a
recipient of the sub-advisory services by revising recital A) at the
beginning of the Agreement to read as follows:

The Advisor has entered into an investment advisory agreement with AIM
Counselor Series Trust (Invesco Counselor Series Trust) ("ACST"), AIM
Growth Series (Invesco Growth Series) ("AGS"), AIM Investment Funds
(Invesco Investment Funds) ("AIF"), AIM International Mutual Funds
(Invesco International Mutual Funds) ("AIMF"), Invesco Management Trust
("IMT") and Invesco Securities Trust ("IST") (collectively, the
"Trusts"), open-end management investment companies registered under the
Investment Company Act of 1940, as amended (the "1940 Act"), with
respect to, among others, the Invesco Short Duration High Yield
Municipal Fund and Invesco Strategic Real Return (series portfolios of
ACST), Invesco Alternative Strategies Fund and Invesco Multi-Asset
Inflation Fund (series portfolios of AGS), Invesco Multi-Asset Income
Fund, Invesco Macro Allocation Strategy Fund, Invesco Macro
International Equity Fund, Invesco Macro Long/Short Fund, Invesco Global
Market Neutral Fund, Invesco Global Targeted Returns Fund, Invesco Low
Volatility Emerging Markets Fund, Invesco All Cap Market Neutral Fund,
Invesco Long/Short Equity Fund, Invesco Global Infrastructure Fund and
Invesco MLP Fund (series portfolios of AIF), the Invesco Global
Opportunities Fund, Invesco Global Responsibility Equity Fund, Invesco
International Companies Fund and the Invesco Select Opportunities Fund
(series portfolios of AIMF), Invesco Balanced-Risk Aggressive Allocation
Fund (a series portfolio of IST) and the Invesco Conservative Income
Fund (a series portfolio of IMT) (collectively, the "Funds"); and

2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.

INVESCO ADVISERS, INC.

ADVISOR

BY: /S/ JOHN M. ZERR
--------------------------
NAME: JOHN M. ZERR
TITLE: SENIOR VICE PRESIDENT

INVESCO POWERSHARES CAPITAL MANAGEMENT LLC

Sub-Advisor

BY: /S/ DANIEL E. DRAPER
-----------------------------------
NAME: DAN DRAPER
TITLE: MANAGING DIRECTOR - INVESCO
POWERSHARES GLOBAL ETFS

Sub-Item 77Q1(e)

AMENDMENT NO. 14
TO
SUB-ADVISORY CONTRACT

This Amendment dated as of February 27, 2017, amends the Sub-Advisory
Contract (the "Contract") between Invesco Advisers, Inc. (the "Advisor") and
Invesco PowerShares Capital Management LLC (the "Sub-Advisor").

WHEREAS, the parties agree to amend the Contract to remove Invesco Macro
International Equity Fund and Invesco Macro Long/Short Fund, series portfolios
of AIM Investment Funds (Invesco Investment Funds) (the "Fund");

NOW THEREFORE, in consideration of the promises and the mutual covenants
herein contained, it is agreed between the parties hereto as follows:

1. The Contract is hereby amended to add the Fund to the Contract as a
recipient of the sub-advisory services by revising recital A) at the
beginning of the Agreement to read as follows:

The Advisor has entered into an investment advisory agreement with AIM
Counselor Series Trust (Invesco Counselor Series Trust) ("ACST"), AIM
Growth Series (Invesco Growth Series) ("AGS"), AIM Investment Funds
(Invesco Investment Funds) ("AIF"), AIM International Mutual Funds
(Invesco International Mutual Funds) ("AIMF"), Invesco Management Trust
("IMT") and Invesco Securities Trust ("IST") (collectively, the
"Trusts"), open-end management investment companies registered under the
Investment Company Act of 1940, as amended (the "1940 Act"), with
respect to, among others, the Invesco Short Duration High Yield
Municipal Fund and Invesco Strategic Real Return (series portfolios of
ACST), Invesco Alternative Strategies Fund and Invesco Multi-Asset
Inflation Fund (series portfolios of AGS), Invesco Multi-Asset Income
Fund, Invesco Macro Allocation Strategy Fund, Invesco Global Market
Neutral Fund, Invesco Global Targeted Returns Fund, Invesco Low
Volatility Emerging Markets Fund, Invesco All Cap Market Neutral Fund,
Invesco Long/Short Equity Fund, Invesco Global Infrastructure Fund and
Invesco MLP Fund (series portfolios of AIF), the Invesco Global
Opportunities Fund, Invesco Global Responsibility Equity Fund, Invesco
International Companies Fund and the Invesco Select Opportunities Fund
(series portfolios of AIMF), Invesco Balanced-Risk Aggressive Allocation
Fund (a series portfolio of IST) and the Invesco Conservative Income
Fund (a series portfolio of IMT) (collectively, the "Funds"); and

2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.

INVESCO ADVISERS, INC.

ADVISOR

BY: /S/ JOHN M. ZERR
--------------------------
NAME: JOHN M. ZERR
TITLE: SENIOR VICE PRESIDENT

INVESCO POWERSHARES CAPITAL MANAGEMENT LLC

Sub-Advisor

BY: /S/ DANIEL E. DRAPER
-----------------------------------
NAME: DAN DRAPER
TITLE: MANAGING DIRECTOR - INVESCO
POWERSHARES GLOBAL ETFS

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Table of Contents

Sub-Item 77Q1(e) MEMORANDUM OF AGREEMENT (ADVISORY FEE WAIVERS) This Memorandum of Agreement is entered into as of the effective date on the attached Exhibit A and B (each an "Exhibit" or, collectively the "Exhibits"), between AIM Counselor Series...

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