EXPENSE LIMITATION AGREEMENT
EXPENSE LIMITATION AGREEMENT made as of the 1st day of August 2016 by and between RidgeWorth Funds (the “Trust”), a Massachusetts business trust, RidgeWorth Capital Management LLC (the “Adviser”), and each investment subadviser listed on Schedule B (“Sub-Adviser”) with respect to the series of the Trust (the “Funds”) set forth on Schedule A.
The Adviser and each Sub-Adviser hereby agree until August 1, 2017 to waive their fees and reimburse expenses, in the proportion set forth in the applicable subadvisory agreement relating to each Fund, to the extent necessary to limit total operating expenses, based on a percentage of the average daily net assets of each share class of each Fund (excluding interest, taxes, brokerage commissions, substitute dividend expenses on securities sold short, extraordinary expenses, estimated indirect expenses attributable to investments in other investment companies, and other expenses not incurred in the ordinary course of business) as set forth on Schedule A.
If at any point before August 1, 2019, it becomes unnecessary for the Adviser and Sub-Adviser to waive fees and/or make reimbursements for a particular Fund, the Adviser and the Sub-Adviser may retain the difference between the total operating expenses of that Fund and the applicable expense limitation set forth on Schedule A to recapture any of their prior waivers and/or reimbursements. Such recapture is limited by the expense cap set forth on Schedule A and, if lower, the expense cap that was applicable at the time of the waiver of fees and/or reimbursement of expenses.
This Agreement shall terminate with respect to a Fund, without payment of any penalty, upon notice to the Adviser by the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Expense Limitation Agreement to be executed as of the day and year first written above.
| RIDGEWORTH FUNDS | RIDGEWORTH CAPITAL MANAGEMENT LLC | |||||||
| By: | /s/ Xxxxx X. Short |
By: | /s/ Xxxx Xxxxxxxx | |||||
| Name: | Xxxxx X. Short | Name: Xxxx Xxxxxxxx | ||||||
| Title: | President and CEO | Title: | Managing Director and CFO | |||||
With respect to each of the Funds listed in Schedule B for which they are the respective Subadviser:
| CEREDEX VALUE ADVISORS LLC | ||
| By: | /s/ Ashi Xxxxxx | |
| Name: | Ashi Xxxxxx | |
| Title: | CEO | |
| SILVANT CAPITAL MANAGEMENT LLC | ||
| By: | /s/ Ashi Xxxxxx | |
| Name: | Ashi Xxxxxx | |
| Title: | CEO | |
With respect to each of the Funds listed in Schedule B for which they are the respective Subadviser:
SEIX INVESTMENT ADVISORS LLC
| By: | /s/ Xxx Xxxxxx | |
| Name: | Xxx Xxxxxx | |
| Title: | CIO |
With respect to each of the Funds listed in Schedule B for which they are the respective Subadviser:
WCM INVESTMENT MANAGEMENT
| By: | /s/ Xxxx Xxxxx | |
| Name: | Xxxx Xxxxx | |
| Title: | Co-CEO |
With respect to each of the Funds listed in Schedule B for which they are the respective Subadviser:
XXXXXXXXXXX CAPITAL INVESTMENTS LLC
| By: | /s/ Xxxxxx Xxxxx | |
| Name: | Xxxxxx Xxxxx | |
| Title: | Managing Director |
With respect to each of the Funds listed in Schedule B for which they are the respective Subadviser:
CAPITAL INNOVATIONS, LLC
| By: | /s/ Xxxxx Xxxxxxxxx | |
| Name: | Xxxxx Xxxxxxxxx | |
| Title: | Managing Partner |
SCHEDULE A
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||||||
| Allocation Strategies |
||||||||
| Aggressive Growth Allocation Strategy |
I | 0.50% | ||||||
| Aggressive Growth Allocation Strategy |
A | 0.70% | ||||||
| Aggressive Growth Allocation Strategy |
C | 1.30% | ||||||
| Conservative Allocation Strategy |
I | 0.30% | ||||||
| Conservative Allocation Strategy |
A | 0.60% | ||||||
| Conservative Allocation Strategy |
C | 1.30% | ||||||
| Growth Allocation Strategy |
I | 0.50% | ||||||
| Growth Allocation Strategy |
A | 0.70% | ||||||
| Growth Allocation Strategy |
C | 1.30% | ||||||
| Moderate Allocation Strategy |
I | 0.50% | ||||||
| Moderate Allocation Strategy |
A | 0.70% | ||||||
| Moderate Allocation Strategy |
C | 1.30% | ||||||
| Equity Funds |
||||||||
| Ceredex Large Cap Value Equity Fund |
IS | 0.85% | ||||||
| Ceredex Large Cap Value Equity Fund |
I | 0.97% | ||||||
| Ceredex Large Cap Value Equity Fund |
A | 1.24% | ||||||
| Ceredex Large Cap Value Equity Fund |
C | 1.90% | ||||||
| Ceredex Mid-Cap Value Equity Fund |
IS | 0.95% | ||||||
| Ceredex Mid-Cap Value Equity Fund |
I | 1.15% | ||||||
| Ceredex Mid-Cap Value Equity Fund |
A | 1.38% | ||||||
| Ceredex Mid-Cap Value Equity Fund |
C | 1.95% | ||||||
| Ceredex Small Cap Value Equity Fund |
I | 1.30% | ||||||
| Ceredex Small Cap Value Equity Fund |
A | 1.55% | ||||||
| Ceredex Small Cap Value Equity Fund |
C | 2.15% | ||||||
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||||||
| International Equity Fund |
IS | 1.10% | ||||||
| International Equity Fund |
I | 1.25% | ||||||
| International Equity Fund |
A | 1.48% | ||||||
| Silvant Large Cap Growth Stock Fund |
IS | 0.95% | ||||||
| Silvant Large Cap Growth Stock Fund |
I | 0.97% | ||||||
| Silvant Large Cap Growth Stock Fund |
A | 1.23% | ||||||
| Silvant Large Cap Growth Stock Fund |
C | 1.95% | ||||||
| Silvant Small Cap Growth Stock Fund |
IS | 1.10% | ||||||
| Silvant Small Cap Growth Stock Fund |
I | 1.30% | ||||||
| Silvant Small Cap Growth Stock Fund |
A | 1.50% | ||||||
| Silvant Small Cap Growth Stock Fund |
C | 2.15% | ||||||
| Innovative Growth Stock Fund |
I | 1.30% | ||||||
| Innovative Growth Stock Fund |
A | 1.50% | ||||||
| Infrastructure Fund |
||||||||
| Capital Innovations Global Resources and Infrastructure Fund |
I | 1.15% | ||||||
| Capital Innovations Global Resources and Infrastructure Fund |
A | 1.40% | ||||||
| Capital Innovations Global Resources and Infrastructure Fund |
C | 2.15% | ||||||
| Fixed Income Funds |
||||||||
| Seix Core Bond Fund |
IS | 0.44% | ||||||
| Seix Core Bond Fund |
I | 0.54% | ||||||
| Seix Core Bond Fund |
A | 0.75% | ||||||
| Seix Core Bond Fund |
R | 1.05% | ||||||
| Seix Corporate Bond Fund |
I | 0.70% | ||||||
| Seix Corporate Bond Fund |
A | 0.95% | ||||||
| Seix Corporate Bond Fund |
C | 1.65% | ||||||
| Seix Limited Duration Fund |
I | 0.35% | ||||||
| Seix U.S. Mortgage Fund |
I | 0.70% | ||||||
| Seix U.S. Mortgage Fund |
A | 0.90% | ||||||
| Seix U.S. Mortgage Fund |
C | 1.65% | ||||||
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||
| Seix Total Return Bond Fund |
IS | 0.44% | ||
| Seix Total Return Bond Fund |
I | 0.54% | ||
| Seix Total Return Bond Fund |
A | 0.75% | ||
| Seix Total Return Bond Fund |
R | 1.15% | ||
| Seix High Income Fund |
IS | 0.70% | ||
| Seix High Income Fund |
I | 0.85% | ||
| Seix High Income Fund |
A | 1.10% | ||
| Seix High Income Fund |
R | 1.50% | ||
| Seix Floating Rate High Income Fund |
IS | 0.60% | ||
| Seix Floating Rate High Income Fund |
I | 0.72% | ||
| Seix Floating Rate High Income Fund |
A | 1.00% | ||
| Seix Floating Rate High Income Fund |
C | 1.60% | ||
| Seix High Yield Fund Seix High Yield Fund |
IS I |
0.64% 0.70% | ||
| Seix High Yield Fund |
A | 0.90% | ||
| Seix High Yield Fund |
R | 1.30% | ||
| Seix Georgia Tax-Exempt Bond Fund |
I | 0.65% | ||
| Seix Georgia Tax-Exempt Bond Fund |
A | 0.80% | ||
| Seix High Grade Municipal Bond Fund |
I | 0.65% | ||
| Seix High Grade Municipal Bond Fund |
A | 0.80% | ||
| Seix Investment Grade Tax-Exempt Bond Fund |
I | 0.65% | ||
| Seix Investment Grade Tax-Exempt Bond Fund |
A | 0.80% | ||
| Seix Short-Term Municipal Bond Fund |
I | 0.48% | ||
| Seix Short-Term Municipal Bond Fund |
A | 0.68% | ||
| Seix North Carolina Tax-Exempt Bond Fund |
I | 0.65% | ||
| Seix North Carolina Tax-Exempt Bond Fund |
A | 0.80% | ||
| Seix Virginia Intermediate Municipal Bond Fund |
I | 0.65% | ||
| Seix Virginia Intermediate Municipal Bond Fund |
A | 0.80% |
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||
| Seix Short-Term Bond Fund |
I | 0.60% | ||
| Seix Short-Term Bond Fund |
A | 0.80% | ||
| Seix Short-Term Bond Fund |
C | 1.58% | ||
| Seix Ultra-Short Bond Fund |
I | 0.46% | ||
| Seix U.S. Government Securities Ultra-Short Bond Fund |
IS | 0.40% | ||
| Seix U.S. Government Securities Ultra-Short Bond Fund |
I | 0.46% |
SCHEDULE B
LIST OF SUBADVISERS
| Equity Funds |
SUBADVISER | |
| Capital Innovations Global Resources and Infrastructure Fund Ceredex Large Cap Value Equity Fund Ceredex Mid-Cap Value Equity Fund Ceredex Small Cap Value Equity Fund Silvant Large Cap Growth Stock Fund Silvant Small Cap Growth Stock Fund International Equity Fund Innovative Growth Stock Fund |
Capital Innovations, LLC Ceredex Value Advisors LLC Ceredex Value Advisors LLC Ceredex Value Advisors LLC Silvant Capital Management LLC Silvant Capital Management LLC WCM Investment Management Xxxxxxxxxxx Capital Investments LLC |
| Fixed Income Funds |
SUBADVISER | |
| Seix Core Bond Fund Seix Corporate Bond Fund Seix High Income Fund Seix Limited Duration Fund Seix U.S. Mortgage Fund Seix Floating Rate High Income Fund Seix High Yield Fund Seix Total Return Bond Fund Seix Georgia Tax-Exempt Bond Fund Seix High Grade Municipal Bond Fund Seix Investment Grade Tax-Exempt Bond Fund Seix North Carolina Tax-Exempt Bond Fund Seix Short-Term Bond Fund Seix Short-Term Municipal Bond Fund Seix Ultra-Short Bond Fund Seix U.S. Government Securities Ultra-Short Bond Fund Seix Virginia Intermediate Municipal Bond Fund |
Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC |
