EX-99.(D)(1)(D) 3 tm2210812d1_ex-d1d.htm EXHIBIT 99.(D)(1)(D)

 

Exhibit (d)(1)(d)

 

AMENDMENT NO. 3 

TO THE AMENDED AND RESTATED

MASTER INVESTMENT ADVISORY AGREEMENT OF

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

 

This Amendment, effective as of April 29, 2022, 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 name of Invesco V.I. International Growth Fund to Invesco V.I. EQV International Equity Fund and to remove Invesco V.I. Core Bond Fund and Invesco V.I. S&P 500 Index Fund, each a series portfolio of AIM Variable Insurance Funds (Invesco Variable Insurance Funds) (“AVIF”), effective April 29, 2022.

 

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. Oppenheimer 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. Comstock Fund   February 12, 2010
Invesco V.I. Conservative Balanced Fund   May 24, 2019
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
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

1

 

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 Oppenheimer 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.

2

 

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. Comstock Fund

Invesco V.I. Growth and Income Fund

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

 

Invesco V.I. Conservative Balanced 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%
Over $800 million   0.600%

 

Invesco V.I. Core Equity Fund

Net Assets  Annual Rate 
First $250 million   0.65%
Over $250 million   0.60%

 

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%

 

 

* 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.

3

 

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%

 

Invesco V.I. Global 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 $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 Oppenheimer Global Strategic Income Fund invests its assets in Invesco Oppenheimer Global Strategic Income Fund (Cayman) Ltd., a direct wholly-owned subsidiary of Invesco Oppenheimer 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 Oppenheimer Global Strategic Income Fund, in an amount equal to 100% of the advisory fee that the Adviser receives from Invesco Oppenheimer 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%

 

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%

4

 

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%

 

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%

5

 

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%”

 

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

6

 

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/ Jeffrey H. Kupor
  Jeffrey H. Kupor
  Senior Vice President & Secretary

 

  AIM VARIABLE INSURANCE FUNDS
(INVESCO VARIABLE INSURANCE FUNDS)
     
  By:  /s/ Jeffrey H. Kupor
    Jeffrey H. Kupor
    Secretary, Senior Vice President and Chief Legal Officer

7