AMENDMENT NO. 28 TO MASTER INVESTMENT ADVISORY AGREEMENT
AMENDMENT NO. 28
TO
MASTER INVESTMENT ADVISORY AGREEMENT
This Amendment dated as of April 22, 2014, 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 parties agree to amend the Agreement to add Invesco Global Infrastructure Fund, Invesco MLP Fund and Invesco Strategic 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 ▇▇▇▇▇▇▇▇ ▇▇▇▇ |
▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇ | |
| ▇▇▇▇▇▇▇ ▇▇▇▇▇ Fund |
March 31, 2006 | |
| Invesco Developing Markets Fund |
September 1, 2001 | |
| Invesco Emerging Market Local Currency Debt 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 Markets Strategy Fund |
September 25, 2012 | |
| Invesco Global Targeted Returns Fund |
December 16, 2013 | |
| Invesco International Total Return Fund |
March 31, 2006 |
| Invesco Long/Short Equity Fund |
December 16, 2013 | |
| Invesco Low Volatility Emerging Markets Fund |
December 16, 2013 | |
| Invesco Macro International Equity Fund |
December 16, 2013 | |
| Invesco Macro Long/Short Fund |
December 16, 2013 | |
| Invesco MLP Fund |
April 22, 2014 | |
| Invesco Pacific Growth Fund |
February 12, 2010 | |
| Invesco Premium Income Fund |
December 14, 2011 | |
| Invesco Select Companies Fund |
November 3, 2003 | |
| Invesco Strategic Income Fund |
April 22, ▇▇▇▇ |
▇▇▇▇▇▇▇▇ ▇
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 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 Market Local Currency Debt 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 Global Markets 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 International Total Return 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 Strategic Income Fund
| Net Assets |
Annual Rate | |
| First $1 billion |
0.60% | |
| Next $3.5 billion |
0.55% | |
| Over $4.5 billion |
0.45% |
Invesco Pacific Growth Fund
| Net Assets |
Annual Rate | |
| First $1 billion |
0.87% | |
| Next $1 billion |
0.82% | |
| Over $2 billion |
0.77% |
Invesco Premium 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/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ |
By: | /s/ ▇▇▇▇ ▇. ▇▇▇▇ | |||||
| Assistant Secretary | ▇▇▇▇ ▇. ▇▇▇▇ | |||||||
| Senior Vice President | ||||||||
| (SEAL) | ||||||||
| INVESCO ADVISERS, INC. | ||||||||
| Attest: | /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ |
By: | /s/ ▇▇▇▇ ▇. ▇▇▇▇ | |||||
| Assistant Secretary | ▇▇▇▇ ▇. ▇▇▇▇ | |||||||
| Senior Vice President | ||||||||
| (SEAL) | ||||||||