Exhibit (a)(12)
VAN ECK FUNDS
AMENDMENT NO. 11
TO AMENDED AND RESTATED MASTER TRUST AGREEMENT
Amendment No. 11 to the Amended and Restated Master Trust Agreement dated
February 6, 1992 (amending the Master Trust Agreement dated April 3, 1985), as
amended (the "Agreement"), of Van Eck Funds (the "Trust"), made at New York, New
York, this 6th day of January, 1998.
WITNESSETH:
WHEREAS, Article VII, Section 7.3 of the Agreement provides that the
Agreement may be amended from time to time, as long as such amendment does not
adversely affect the rights of any shareholder, and as long as such amendment is
not in contravention of applicable law, including the Investment Company Act of
1940, as amended, by an instrument in writing, signed by an officer of the Trust
pursuant to a vote of a majority of the Trustees of the Trust; and
WHEREAS, Article IV, Section 4.1 of the Agreement provides that the
Trustees of the Trust may establish and designate series of Shares
("Sub-Trusts") of the Trust and classes thereof; and
WHEREAS, a majority of the Trustees have voted to establish a new
Sub-Trust of the Trust, which is designated as Global Real Estate Fund, and to
establish three classes of Shares thereof, which are designated as Class A,
Class B and Class C; and
WHEREAS, Article IV, Section 4.2 (d) of the Agreement provides that the
Trustees of the Trust may liquidate any particular Sub-Trust of the Trust,
subject to the approval of a majority of the outstanding voting Shares of that
Sub-Trust; and
WHEREAS, a majority of the Trustees approved the submission to
shareholders of a proposal to liquidate one of the Sub-Trusts, Asia
Infrastructure Fund, and, at a meeting held on
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Exhibit (a)(12)
September 4, 1997, a majority of the outstanding voting Shares of that Sub-Trust
approved the liquidation of Asia Infrastructure Fund; and
WHEREAS, a majority of the Trustees approved the submission to
shareholders of a proposal to liquidate one of the Sub-Trusts, Gold Opportunity
Fund, and, at a meeting held on October 1, 1997, a majority of the outstanding
voting Shares of that Sub-Trust approved the liquidation of Gold Opportunity
Fund; and
WHEREAS, a majority of Trustees have duly approved these amendments to the
Agreement and authorized the same to be filed with the Secretary of State of the
Commonwealth of Massachusetts.
NOW, THEREFORE, the undersigned, Xxxxx X. Xxxxx, a duly elected and
serving Assistant Secretary of the Trust, pursuant to the authorizations
described above, hereby declares that the initial paragraph of Article IV,
Section 4.2 of the Agreement is amended to read in entirety as follows:
"Section 4.2 ESTABLISHMENT AND DESIGNATION OF SUB-TRUSTS. Without limiting
the authority of the Trustees set forth in Section 4.1 to establish and
designate any further Sub-Trusts, the Trustees hereby establish and
designate the following nine Sub-Trusts: Asia Dynasty Fund (Class A and
Class B), Emerging Markets Growth Fund (Class A, Class B and Class C),
Global Balanced Fund (Class A and Class B), Global Hard Assets Fund (Class
A, Class B and Class C), Global Income Fund (Class A), Global Real Estate
Fund (Class A, Class B and Class C), Gold/Resources Fund (Class A),
International Investors Gold Fund (Class A) and U.S. Government Money
Fund. Shares of such Sub-Trusts and any Shares of any further Sub-Trusts
that may from time to time be established and designated by the Trustees
shall (unless the Trustees otherwise determine with respect to some
further Sub-Trust at the time of establishing and designating the same)
have the following relative rights and preferences:"
WITNESS my hand and seal this 6th day of January, 1998.
-------------------------------------- (SEAL)
Xxxxx X. Xxxxx, Assistant Secretary
STATE OF NEW YORK )
)
COUNTY OF NEW YORK )
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Exhibit (a)(12)
Then personally appeared the above-named Xxxxx X. Xxxxx and acknowledged
this instrument to be her free act and deed this 6th day of January, 1998.
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Notary Public
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