AMENDMENT NO. 5 TO THE MUTUAL FUNDS SERVICE AGREEMENT

Exhibit (h)(1)(v)

1290 FUNDS

AMENDMENT NO. 5

TO THE

MUTUAL FUNDS SERVICE AGREEMENT

AMENDMENT NO. 5, dated as of February 27, 2017 (“Amendment No. 5”), to the Mutual Funds Service Agreement dated September 1, 2014 (the “Agreement”) between 1290 Funds, a Delaware statutory trust (“Trust”), and AXA Equitable Funds Management Group, LLC d/b/a 1290 Asset Managers, a Delaware limited liability company (“FMG LLC” or “Administrator”).

The Trust and FMG LLC agree to modify the Agreement as follows:

1. Name Change. The name of 1290 Global Allocation Fund is changed to 1290 Low Volatility Global Equity Fund.

2. Schedule A: Schedule A to the Agreement is hereby replaced in its entirety by Schedule A attached hereto.

Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 5 as of the date first above set forth.

1290 FUNDS		AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC d/b/a 1290 ASSET MANAGERS
By: /s/ Xxxxx Xxxxx                                     Xxxxx Xxxxx             Chief Financial Officer and             Treasurer		By: /s/ Xxxxx Xxxxx                                     Xxxxxx X. Xxxxx             Chairman, Chief Executive             Officer and President

SCHEDULE A

AMENDMENT NO. 5

MUTUAL FUNDS SERVICE AGREEMENT

Fees and Expenses

Trust Administration, Accounting and Compliance Fees

Fund(s)		Fee
1290 Convertible Securities 1290 DoubleLine Dynamic Allocation 1290 GAMCO Small/Mid Cap Value 1290 Low Volatility Global Equity Fund (fka, 1290 Global Allocation Fund) 1290 Global Talents Fund 1290 High Yield Bond 1290 Multi-Alternative Strategies 1290 SmartBeta Equity 1290 Unconstrained Bond Managers 1290 Retirement 2020 Fund 1290 Retirement 2025 Fund 1290 Retirement 2030 Fund 1290 Retirement 2035 Fund 1290 Retirement 2040 Fund 1290 Retirement 2045 Fund 1290 Retirement 2050 Fund 1290 Retirement 2055 Fund 1290 Retirement 2060 Fund		The greater of 0.15% of each Fund’s average daily net assets, or $30,000 per Fund (or $30,000 for each allocated portion (or sleeve) of a Fund).