<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>4
<FILENAME>e77q1e1.txt
<TEXT>
                                                                SUB-ITEM 77Q1(E)

                                AMENDMENT NO. 11

                                       TO

                      MASTER INVESTMENT ADVISORY AGREEMENT

     This Amendment dated as of March 31, 2006, amends the Master Investment
Advisory Agreement (the "Agreement"), dated September 11, 2000, between AIM
Investment Funds, a Delaware statutory trust, and A I M Advisors, Inc., a
Delaware corporation.

                                   WITNESSETH:

     WHEREAS, the parties desire to amend the Agreement to add four portfolios,
AIM China Fund, AIM Enhanced Short Bond Fund, AIM International Bond Fund and
AIM Japan Fund, to the Agreement;

     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

<TABLE>
<CAPTION>
NAME OF FUND                       EFFECTIVE DATE OF ADVISORY AGREEMENT
------------                       ------------------------------------
<S>                                <C>
AIM China Fund                                March 31, 2006

AIM Developing Markets Fund                  September 1, 2001

AIM Enhanced Short Bond Fund                  March 31, 2006

AIM Global Health Care Fund                  September 1, 2001

AIM International Bond Fund                   March 31, 2006

AIM Japan Fund                                March 31, 2006

AIM Trimark Endeavor Fund                    November 3, 2003

AIM Trimark Fund                             November 3, 2003

AIM Trimark Small Companies Fund             November 3, 2003"
</TABLE>

<PAGE>

                                   "APPENDIX B
                           COMPENSATION TO THE ADVISOR

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

                                 AIM CHINA FUND
                                 AIM JAPAN FUND

<TABLE>
<CAPTION>
NET ASSETS              ANNUAL RATE
----------              -----------
<S>                     <C>
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%
</TABLE>

                           AIM DEVELOPING MARKETS FUND

<TABLE>
<CAPTION>
NET ASSETS                    ANNUAL RATE
----------                    -----------
<S>                           <C>
First $500 million .....         0.975%
Next $500 million ......          0.95%
Next $500 million ......         0.925%
On amounts thereafter ..          0.90%
</TABLE>

                          AIM ENHANCED SHORT BOND FUND

<TABLE>
<CAPTION>
NET ASSETS            ANNUAL RATE
----------            -----------
<S>                   <C>
First $1 billion ..       0.45%
Next $4 billion ...      0.425%
Over $5 billion ...       0.40%
</TABLE>

                           AIM INTERNATIONAL BOND FUND

<TABLE>
<CAPTION>
NET ASSETS              ANNUAL RATE
----------              -----------
<S>                     <C>
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%
</TABLE>


                                        2

<PAGE>

                           AIM GLOBAL HEALTH CARE FUND

<TABLE>
<CAPTION>
NET ASSETS              ANNUAL RATE
----------              -----------
<S>                     <C>
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%
</TABLE>

                            AIM TRIMARK ENDEAVOR FUND

<TABLE>
<CAPTION>
NET ASSETS                 ANNUAL RATE
----------                 -----------
<S>                        <C>
First $1 billion .......      0.80%
On amounts thereafter ..      0.75%
</TABLE>

                                AIM TRIMARK FUND
                        AIM TRIMARK SMALL COMPANIES FUND

<TABLE>
<CAPTION>
NET ASSETS                 ANNUAL RATE
----------                 -----------
<S>                        <C>
First $1 billion .......      0.85%
On amounts thereafter ..      0.80%"
</TABLE>

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


                                        3

<PAGE>

     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


Attest: /s/ Ofelia M. Mayo              By: /s/ Robert H. Graham
        -----------------------------       ------------------------------------
        Assistant Secretary                 Robert H. Graham
                                            President


(SEAL)


                                        A I M ADVISORS, INC.


Attest: /s/ Ofelia M. Mayo              By: /s/ Mark H. Williamson
        -----------------------------       ------------------------------------
        Assistant Secretary                 Mark H. Williamson
                                            President


(SEAL)


                                        4
</TEXT>
</DOCUMENT>