AMENDMENT NO. 5 TO THE AMENDED AND RESTATED MASTER INVESTMENT ADVISORY AGREEMENT OF AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

 

Exhibit 99.d(1)(f)

 

AMENDMENT NO. 5

TO THE AMENDED AND RESTATED

MASTER INVESTMENT ADVISORY AGREEMENT OF

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

 

This Amendment, effective as of July 1, 2024, amends the Amended and Restated Master Investment Advisory Agreement (the “Agreement”), dated July 1, 2020, by and between AIM Variable Insurance Funds (Invesco Variable Insurance Funds), a Delaware business trust (the “Trust”) and Invesco Advisers, Inc., a Delaware corporation (the “Adviser”).

 

W I T N E S S E T H:

 

WHEREAS, the Trust desires to amend the Agreement to change the contractual advisory fees for Invesco V.I. ▇▇▇▇▇▇▇▇ Fund and Invesco V.I. Core Equity Fund.

 

 

NOW, THEREFORE, the parties agree that:

 

1.Appendix A and Appendix B to the Agreement are hereby deleted in their entirety and replaced with the following:

 

“APPENDIX A

FUNDS AND EFFECTIVE DATES

 

  Name of Fund Effective Date of Advisory Agreement
     
  Invesco ▇▇▇▇▇▇▇▇▇▇▇ V.I. International Growth Fund May 24, 2019
  Invesco V.I. American Franchise Fund February 12, 2010
  Invesco V.I. American Value Fund February 12, 2010
  Invesco V.I. Balanced-Risk Allocation Fund January 7, 2011
  Invesco V.I. Capital Appreciation Fund May 24, 2019
  Invesco V.I. ▇▇▇▇▇▇▇▇ Fund February 12, 2010
  Invesco V.I. Core Equity Fund May 1, 2000
  Invesco V.I. Core Plus Bond Fund May 1, 2000
  Invesco V.I. Discovery Mid Cap Growth Fund May 24, 2019
  Invesco V.I. Diversified Dividend Fund February 12, 2010
  Invesco V.I. Equally-Weighted S&P 500 Fund February 12, 2010
  Invesco V.I. Equity and Income Fund February 12, 2010
  Invesco V.I. Global Core Equity Fund February 12, 2010
  Invesco V.I. Global Fund May 24, 2019
  Invesco V.I. Global Real Estate Fund April 30, 2004
  Invesco V.I. Global Strategic Income Fund May 24, 2019
  Invesco V.I. Government Money Market Fund May 1, 2000
  Invesco V.I. Government Securities Fund May 1, 2000
  Invesco V.I. Growth and Income Fund February 12, 2010
  Invesco V.I. Health Care Fund April 30, 2004
  Invesco V.I. High Yield Fund May 1, 2000

 

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  Invesco V.I. EQV International Equity Fund May 1, 2000
  Invesco V.I. Main Street Fund® May 24, 2019
  Invesco V.I. Main Street Mid Cap Fund® September 10, 2001
  Invesco V.I. Main Street Small Cap Fund® May 24, 2019
  Invesco® V.I. S&P 500 Buffer Fund – March September 7, 2021
  Invesco® V.I. S&P 500 Buffer Fund – June September 7, 2021
  Invesco® V.I. S&P 500 Buffer Fund – September September 7, 2021
  Invesco® V.I. S&P 500 Buffer Fund – December September 7, 2021
  Invesco® V.I. NASDAQ 100 Buffer Fund – March September 7, 2021
  Invesco® V.I. NASDAQ 100 Buffer Fund – June September 7, 2021
  Invesco® V.I. NASDAQ 100 Buffer Fund – September September 7, 2021
  Invesco® V.I. NASDAQ 100 Buffer Fund – December September 7, 2021
  Invesco V.I. Small Cap Equity Fund September 1, 2003
  Invesco V.I. Technology Fund April 30, 2004
  Invesco V.I. U.S. Government Money Portfolio May 24, 2019

 

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APPENDIX B

COMPENSATION TO THE ADVISOR

 

The Trust shall pay the Adviser, out of the assets of each Fund, as full compensation for all services rendered, an advisory fee for such Funds as set forth below. Such fee shall be calculated by applying the following annual rates to the average daily net assets of such Funds for the calendar year computed in the manner used for the determination of the net asset value of shares of such Funds.

 

Invesco ▇▇▇▇▇▇▇▇▇▇▇ V.I. International Growth Fund*

 

Net Assets  Annual Rate 
First $250 million   1.000%
Next $250 million   0.900%
Next $500 million   0.850%
Over $1 billion   0.820%

 

Invesco V.I. American Franchise Fund

 

Net Assets  Annual Rate 
First $250 million   0.695%
Next $250 million   0.67%
Next $500 million   0.645%
Next $550 million   0.62%
Next $3.45 billion   0.60%
Next $250 million   0.595%
Next $2.25 billion   0.57%
Next $2.5 billion   0.545%
Over $10 billion   0.52%

 

Invesco V.I. American Value Fund

 

Net Assets  Annual Rate 
First $250 million   0.695%
Next $250 million   0.67%
Next $500 million   0.645%
Next $1.5 billion   0.62%
Next $2.5 billion   0.595%
Next $2.5 billion   0.57%
Next $2.5 billion   0.545%
Over $10 billion   0.52%

 

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

 

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Invesco V.I. Capital Appreciation Fund*

 

Net Assets  Annual Rate 
First $200 million   0.750%
Next $200 million   0.720%
Next $200 million   0.690%
Next $200 million   0.660%
Next $200 million   0.600%
Over $1 billion   0.580%

 

Invesco V.I. ▇▇▇▇▇▇▇▇ Fund

 

Net Assets  Annual Rate 
First $500 million   0.60%
Next $1.5 billion   0.55%
Over $2 billion   0.53%

 

Invesco V.I. Growth and Income Fund

 

Net Assets  Annual Rate 
First $500 million   0.60%
Over $500 million   0.55%

 

Invesco V.I. Core Equity Fund

 

Net Assets  Annual Rate 
First $250 million   0.65%
Next $1.75 billion   0.60%
Over $2 billion   0.58%

 

Invesco V.I. Core Plus Bond Fund

 

Net Assets  Annual Rate 
First $500 million   0.450%
Next $500 million   0.425%
Next $1.5 billion   0.400%
Next $2.5 billion   0.375%
Over $5 billion   0.350%

 

Invesco V.I. Discovery Mid Cap Growth Fund*

 

Net Assets  Annual Rate 
First $200 million   0.750%
Next $200 million   0.720%
Next $200 million   0.690%
Next $200 million   0.660%
Next $700 million   0.600%
Over $1.5 billion   0.580%

 

Invesco V.I. Diversified Dividend Fund

 

Net Assets  Annual Rate 
First $250 million   0.545%
Next $750 million   0.42%
Next $1 billion   0.395%
Over $2 billion   0.37%

 

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Invesco V.I. Equity and Income Fund

 

Net Assets  Annual Rate 
First $150 million   0.50%
Next $100 million   0.45%
Next $100 million   0.40%
Over $350 million   0.35%

 

Invesco V.I. Global Core Equity Fund

 

Net Assets  Annual Rate 
First $1 billion   0.67%
Next $500 million   0.645%
Next $1 billion   0.62%
Next $1 billion   0.595%
Next $1 billion   0.57%
Over $4.5 billion   0.545%

 

InvescoV.I.GlobalFund*

 

Net Assets  Annual Rate 
First $200 million   0.750%
Next $200 million   0.720%
Next $200 million   0.690%
Next $200 million   0.660%
Next $4.2 billion   0.600%
Over $5 billion   0.580%

 

Invesco V.I. Global Strategic Income Fund*

 

Net Assets  Annual Rate** 
First $200 million   0.750%
Next $200 million   0.720%
Next $200 million   0.690%
Next $200 million   0.660%
Next $200 million   0.600%
Next $4 billion   0.500%
Over $5 billion   0.480%

 

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

 

Invesco V.I. Government Money Market Fund

 

Net Assets  Annual Rate 
All Assets   0.15%

 

Invesco V.I. Government Securities Fund

 

Net Assets  Annual Rate 
First $250 million   0.50%
Over $250 million   0.45%

 

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Invesco V.I. Health Care Fund

Invesco V.I. Global Real Estate Fund

Invesco V.I. Technology Fund

 

Net Assets  Annual Rate 
First $250 million   0.75%
Next $250 million   0.74%
Next $500 million   0.73%
Next $1.5 billion   0.72%
Next $2.5 billion   0.71%
Next $2.5 billion   0.70%
Next $2.5 billion   0.69%
Over $10 billion   0.68%

 

Invesco V.I. High Yield Fund

 

Net Assets  Annual Rate 
First $200 million   0.625%
Next $300 million   0.55%
Next $500 million   0.50%
Over $1 billion   0.45%

 

Invesco V.I. EQV International Equity Fund

 

Net Assets  Annual Rate 
First $250 million   0.75%
Over $250 million   0.70%

 

Invesco V.I. Main Street Fund®*

Invesco V.I. Main Street Small Cap Fund®*

 

First $200 million   0.750%
Next $200 million   0.720%
Next $200 million   0.690%
Next $200 million   0.660%
Next $200 million   0.600%
Next $4 billion   0.580%
Over $5 billion   0.560%

 

Invesco V.I. Main Street Mid Cap Fund®

 

Net Assets  Annual Rate 
First $500 million   0.725%
Next $500 million   0.700%
Next $500 million   0.675%
Over $1.5 billion   0.65%

 

Invesco V.I. Equally-Weighted S&P 500 Fund

 

Net Assets  Annual Rate 
First $2 billion   0.12%
Over $2 billion   0.10%

 

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Invesco® V.I. S&P 500 Buffer Fund – March

Invesco® V.I. S&P 500 Buffer Fund – June

Invesco® V.I. S&P 500 Buffer Fund – September

Invesco® V.I. S&P 500 Buffer Fund – December

Invesco® V.I. NASDAQ 100 Buffer Fund – March

Invesco® V.I. NASDAQ 100 Buffer Fund – June

Invesco® V.I. NASDAQ 100 Buffer Fund – September

Invesco® V.I. NASDAQ 100 Buffer Fund – December

 

Net Assets  Annual Rate 
First $2B   0.42%
Over $2B   0.40%

 

Invesco V.I. Small Cap Equity 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 V.I. U.S. Government Money Portfolio*

 

Net Assets  Annual Rate 
First $500 million   0.450%
Next $500 million   0.425%
Next $500 million   0.400%
Over $1.5 billion   0.375%

 

* The advisory fee payable by the Fund shall be reduced by any amounts paid by such Fund under the Administrative Services Agreement between such Fund and Invesco Advisers, Inc.”

 

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

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed in duplicate by their respective officers on the day and year first written above.

 

  INVESCO ADVISERS, INC.
   
  By: /s/ ▇▇▇▇ ▇▇▇▇ 
    ▇▇▇▇ ▇▇▇▇
    Senior Vice President
   
  AIM VARIABLE INSURANCE FUNDS
  (INVESCO VARIABLE INSURANCE FUNDS)
   
  By:  /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
    ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
    Secretary, Senior Vice President and Chief Legal Officer

 

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Filed: April 29th, 2025